DEE Development Engineers Limited announced that its Board of Directors, in a meeting held on June 3, 2026, approved the issuance of equity shares on a preferential basis, subject to shareholder and other necessary approvals. The company plans to issue up to 59,76,096 equity shares of face value ₹10 each, at an issue price of ₹502 each (including a premium of ₹492 per share), aggregating to approximately ₹300.00 crore. This issuance will be made under the Promoter & Promoter Group category and the Non-Promoter Category. Specifically, up to 3,98,406 shares will be issued to the Promoter & Promoter Group, including Krishan Lalit Bansal, for an aggregate consideration of ₹19.99 crore. Post-allotment, Krishan Lalit Bansal's shareholding will be approximately 47.31%. Additionally, up to 55,77,690 shares will be issued to the Non-Promoter Group, comprising entities like Mutual Funds, Alternative Investment Funds, Foreign Portfolio Investors, and other corporate bodies, for an aggregate consideration of ₹280.00 crore. The list of non-promoter allottees includes prominent names such as Kotak Mahindra Trustee Co Limited, WhiteOak Capital Equity Fund, and ValueQuest India GIF Fund, among others. The Board also approved convening an Extraordinary General Meeting (EGM) on Saturday, June 27, 2026, at 1:00 PM, to seek shareholder approval for this preferential issue. Saturday, June 20, 2026, has been fixed as the cut-off date for determining shareholder eligibility for the e-voting process. Furthermore, the company approved the appointment of Mr. Kapil Kumar as the scrutinizer for the e-voting process and constituted a Fund-Raising Committee. The Board also approved the re-constitution of the Stakeholders' Relationship Committee (SRC) and Corporate Social Responsibility (CSR) committee, including Mr. Bhisham Kumar Gupta and Mr. Ashwani Kumar Prabhakar as new members. Revisions to the sitting fees payable to Independent Directors were also approved, effective from June 3, 2026. The Board took note of the appointment and report of the Registered Valuer, Mr. Rajneesh Sharma, for the valuation of equity shares for the proposed preferential allotment. The Board meeting commenced at 9:00 AM and concluded at 9:38 AM.
