In-principle approval for preferential issue of 59.76 lakh shares at Rs 502

Fund Raising View source PDF Explain this filing

DEEDEV · price

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Price reactionminutes from the announcement price · days from the prior close

+5.0%Reaction day

₹675.55

prior close

₹709.30

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.9%+4.1% vs market

On the reaction day the stock moved 4.1 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

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AI summary

DEE Development Engineers has received in-principle approval from BSE and NSE to issue 59,76,096 equity shares at Rs 502 each (face value Rs 10, premium Rs 492) on a preferential basis to promoters and non-promoters. Total issue size is about Rs 300 crore. The company must now complete allotment and apply for listing within 20 days of allotment.

Likely market impact

Potential dilution of existing shareholders as new shares will be issued; equity base will expand post-allotment.