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DEE DEVELOPMENT ENGINEERS LIMITED — Capital/Financing Update 2025
Mar 21, 2025
62378_rns_2025-03-21_8a3a02d3-5464-4424-8119-fc42534485f1.pdf
Capital/Financing Update
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Date: 21[st] March, 2025
Listing Compliance Department
| BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400001 ScripCode:544198 |
The National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400051 Symbol:DEEDEV |
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Sub: Intimation of investment in DEE Piping Systems (Thailand) Co., Wholly Owned Subsidiary of the Company - Intimation under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)
Dear Sir/ Madam,
Pursuant to the provision of Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, the following investment made by the Company in its Wholly owned Subsidiary Company–DEE Piping Systems (Thailand) Co. Limited. The detailed disclosure is enclosed in “ Annexure-A”.
This is for your information and records please.
Thanking you,
Yours faithfully,
For DEE Development Engineers Limited
Digitally signed by RANJAN KUMAR RANJAN KUMAR SARANGI SARANGI Date: 2025.03.21 14:45:54 +05'30'
__________ Ranjan Kumar Sarangi Company Secretary and Compliance Officer Membership No.: F8604 Address: Unit 1, Prithla - Tatarpur Road, Village Tatarpur Dist. Palwal, Faridabad, Haryana – 121 102
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA
“Annexure-A”
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Disclosures in terms of Regulation 30 of the Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
| Sr. No | Particulars | Details | Details | |
|---|---|---|---|---|
| 1. | Name of the Target Company, details in brief such as size, turnover, etc. |
DEE Piping Systems (Thailand) Co. Ltd. (“DEE Thai”). It was incorporated as a Private company on October 7, 2014 under Thailand’s Civil and Commercial Code. Its registered office is situated at Nos. 59 and 59/8, Moo 6, Thakham Sub - district, Bangpakong District, Chachoengsao Province Presently, the Company holds 100% paid-up equity share capital of DEE Thai. Other details of DEE Thai as on March 31, 2024 are as follows: Particulars Details (INR in Lacs) Turnover 8,239.01 PAT (433.48) Net worth (1,181.04) |
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| Particulars | Details (INR in Lacs) |
|||
| Turnover | 8,239.01 | |||
| PAT | (433.48) | |||
| Net worth | (1,181.04) | |||
| 2. | Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” |
The transaction involves subscription of equity shares of DEE Thai, which is an existing wholly owned subsidiary of the Company. Transactions between a holding company and its wholly owned subsidiary whose accounts are consolidated with such holding company are exempt under related party transactions. The Company is the Promoter of DEE Thai. Save and except as mentioned above, the Company is not interested in any other manner. |
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| 3. | Industry to which the entity being acquired belongs |
Engineering Industry | ||
| 4. | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, |
The investment amount will be used by DEE Piping Systems (Thailand) Co. Limited to repayits debt. |
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA
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| if its business is outside the main line of business of the listed entity) |
Further, DEE Piping Systems (Thailand) Co. Limited is in same line of business as of holdingCompany. |
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| 5. | Brief details of any governmental or regulatory approvals required for the acquisition |
Not Applicable |
| 6. | Indicative time period for completion of the acquisition |
Not Applicable |
| 7. | Nature of consideration - whether cash consideration or share swap and details of the same |
Cash Consideration |
| 8. | Cost of acquisition or the price at which the shares are acquired |
Cost of Acquisition is USD $ 24,00,000 Conversion of USD $ 1 to INR is Rs. 86.5903 as on 19.03.2025 |
| 9. | Percentage of shareholding / control acquired and / or number of shares acquired |
DEE Development Engineers Limited (“The Company”) is a holding Company of DEE Piping Systems (Thailand) Co. Limited holding 6,59,31,358 equity share of THB 5/- each. The Company proposes to further invest in DEE Piping Systems (Thailand) Co. Limited through 1,61,61,616 Equity Shares, representing 24.51% of the existing paid-up Equity Share capital. Hence, the Post Transaction Equity Shares will be 8,20,92,974 equity shares of THB 5/- each. |
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA
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| 10. | Brief background about the entity acquired in terms of products / line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
DEE Piping Systems (Thailand) Co. Limited is a wholly owned subsidiary of DEE Development Engineers Limited. It was incorporated on October 7, 2014 under Thailand’s Civil and Commercial Code. Its registered office is situated at Nos. 59 and 59/8, Moo. 6, Thakham Sub -district, Bangpakong District, Chachoengsao Province. It is engaged in the business of fabrication (including prefabrication and on-site fabrication) of pipe spool and other components for assembling industrial piping systems used in various industries. The details of turnover for the last three financial years are as follows: Financial Year Turnover (INR in Lacs) 2023-2024 8,239.01 2022-2023 6,410.78 2021-2022 4098.39 |
DEE Piping Systems (Thailand) Co. Limited is a wholly owned subsidiary of DEE Development Engineers Limited. It was incorporated on October 7, 2014 under Thailand’s Civil and Commercial Code. Its registered office is situated at Nos. 59 and 59/8, Moo. 6, Thakham Sub -district, Bangpakong District, Chachoengsao Province. It is engaged in the business of fabrication (including prefabrication and on-site fabrication) of pipe spool and other components for assembling industrial piping systems used in various industries. The details of turnover for the last three financial years are as follows: Financial Year Turnover (INR in Lacs) 2023-2024 8,239.01 2022-2023 6,410.78 2021-2022 4098.39 |
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|---|---|---|---|---|---|
| Financial Year | Turnover (INR in Lacs) |
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| 2023-2024 | 8,239.01 | ||||
| 2022-2023 | 6,410.78 | ||||
| 2021-2022 | 4098.39 | ||||
DEE DEVELOPMENT ENGINEERS LIMITED
Regd. Office: Unit 1, Prithla-Tatarpur Road, Village Tatarpur, Dist. Palwal, Haryana- 121102, India Works: Unit 1, 2 & 3, Village Tatarpur, Dist. Palwal, Haryana- 121102, India T: +91 1275 248200, F: +91 1275 248314, E: [email protected], W: www.deepiping.com CIN: L74140HR1988PLC030225 GST Registration No . 06AACCD0207H1ZA