DEE Development Engineers revises EGM notice for ₹300 crore issue

DEE Development Engineers Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice dated June 03, 2026, following observations from BSE Limited and the National Stock Exchange of India Limited. The company seeks shareholder approval for a preferential issue of equity shares to raise ₹300 crore. The EGM is scheduled to be held on June 27, 2026, at 01:00 P.M. IST via video conferencing.

The Fund-Raising Committee of the Board approved the issuance of up to 59,76,096 equity shares with a face value of ₹10 each at an issue price of ₹502 per share. The total issue size aggregates to ₹300,00,00,192, and the allotment will be made on a private placement basis. The corrigendum details the revised shareholding structure and the list of proposed allottees, which includes institutional investors and individuals. The company published the corrigendum in the Financial Express (All India editions) and Satyajay Times (Palwal edition) on June 20, 2026.

Shareholding Pattern

The preferential issue will alter the company's shareholding structure. Promoters and Promoter Group holding will decrease from 70.18% to 65.13%, while Non-Promoter Holding will increase from 29.82% to 34.87%. The post-preferential share capital will be ₹75,23,94,380 divided into 7,52,39,438 Equity Shares.

Category	Pre-Issue %	Post Issue %
Promoters and Promoter Group	70.18	65.13
Non-Promoter Holding	29.82	34.87
Total	100.00	100.00

Proposed Allottees

The company has identified 24 proposed allottees. Key investors include Krishan Lalit Bansal (Promoter), Kotak Mahindra Trustee Co Limited, WhiteOak Capital Equity Fund, and ValueQuest India G.I.F.T. Fund. Other notable names include 360 ONE PIPE Fund, Finavenue Capital Trust – Finavenue Growth Fund, and Ashoka WhiteOak ICAV – Ashoka Whiteoak Emerging Markets Equity Fund.

Key Issue Details

Particulars	Details
Type of securities	Equity Shares of ₹10 each
Total number of shares	Up to 59,76,096
Issue price	₹502 per Equity Share
Total issue amount	₹300,00,00,192
Nature of consideration	Cash
Purpose	Preferential issue on a private placement basis

The issue price was determined in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Kapil Kumar & Co., Practicing Company Secretaries, has certified that the preferential issue complies with regulatory requirements. The company noted that a valuation report is not required as the conditions of Regulation 166A of SEBI ICDR Regulations, 2018, are not triggered.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE841L01016/53623bc24fef4f50.pdf

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.53%	+12.41%	+47.59%	+224.14%	+134.35%	+109.67%

dee development engineers reported a total order book of ₹2,433.90 crore as of May 31, 2026, driven by new orders across its piping and heavy fabrication segments. The company secured new orders worth ₹631.91 crore in May 2026, while executing orders worth ₹107.83 crore during the same period. The cumulative order inflow for FY 2026-27 reached ₹681.85 crore, with cumulative execution totaling ₹177.51 crore as of May 31, 2026.

Order Position Details

The order book data encompasses activities across various entities including DEE India, DEE Thailand, DEE Fabricom India, and Molsieve Designs Ltd. The table below details the order inflow, execution, and closing positions for the period from May 1, 2026, to May 31, 2026.

Nature of Activity:	Name of Company	Customer's Industry	Opening as on 1st May, 2026 (₹ Crore)	Order Inflow during May 2026 (₹ Crore)	Executed during May 2026 (₹ Crore)	Closing as on 31st May, 2026 (₹ Crore)
Piping	DEE India $	Power	1,011.53	274.79	34.90	1,251.42
Piping	DEE India $	Oil & Gas	562.84	358.49	40.15	881.18
Piping	DEE India $	Others*	19.51	-6.49	10.72	2.29
Piping	DEE Thailand##	Power	191.35	3.22	9.81	184.76
Piping	DEE Thailand##	Oil & Gas	9.39	-6.48	2.07	0.84
Heavy Fabrication	DEE Fabricom India	Power	112.03	2.84	4.67	110.20
Gas Plants	Molsieve Designs Ltd	Others*	3.17	0.09	0.05	3.22
Power	DEE India**	-	-	3.24	3.24	-
Power	Malwa Power**	Power generation unit	-	0.65	0.65	-
Power	Malwa Power**	Pellet unit	-	1.57	1.57	-
Total			1,909.82	631.91	107.83	2,433.90

Regulatory and Operational Updates

The filing provided updates on tariff regulations affecting the company's power division. The Punjab State Electricity Regulatory Commission (PSERC) fixed the tariff for Malwa Power Private Limited at ₹5.224 per kWh for FY 2025-26, with a 5% annual escalation on variable cost, setting the FY 2026-27 tariff at ₹5.437 per kWh. The company indicated it may file an appeal before the Appellate Tribunal for Electricity (APTEL) to challenge this order. The projected revenue for FY 27 is approximately ₹47.71 crore, which includes ₹23.4 crore from the pellet plant.

Regarding the power division of DEE Development Engineers Limited, the PSERC had revised the tariff to ₹5.877 per unit in August 2025. However, the company filed an appeal before the Hon'ble High Court of Punjab & Haryana, which stayed the commission's order in October 2025. Consequently, the company continues to supply electricity to PSPCL at the prevailing tariff of ₹7.47 per unit. Any recovery claims by PSPCL regarding tariff differentials remain withheld pending the final disposal of the matter by the court.

The company noted that the total value of orders executed represents the aggregate amount of invoices raised. Revenue recognized under Indian GAAP (Ind AS 115) may differ from the invoiced amount due to Incoterms and performance obligations. Exchange rates for export orders from DEE Thailand were considered at 1 THB = 2.90908 INR.