DEE Development Engineers Limited has announced a $2.4 million investment in its subsidiary, DEE Piping Systems (Thailand) Co. Ltd. The funds will be used to assist the Thai unit in repaying its debt, the company stated.
On the NSE, DEE Development Engineers Limited’s shares closed at ₹259.10 today, up by ₹6.32 or 2.50%.
The investment will involve the acquisition of 161,61,616 equity shares, representing 24.51% of the existing paid-up equity share capital of the Thai subsidiary. Following the transaction, DEE Development Engineers will maintain its 100% ownership with a total stake of 8,20,92,974 equity shares of THB 5 each.
Established in October 2014, DEE Piping Systems (Thailand) specializes in fabricating pipe spools and components for industrial piping systems. Despite achieving a turnover of 8,239.01 lakh rupees (approximately $9.5 million) in the fiscal year 2023-2024, the subsidiary reported a loss of 433.48 lakh rupees with a negative net worth of 1,181.04 lakh rupees as of March 31, 2024.
The Thai unit has demonstrated consistent revenue growth in recent years, with turnover increasing from 4,098.39 lakh rupees in 2021-2022 to 6,410.78 lakh rupees in 2022-2023 before reaching its current level.
Published on March 21, 2025.
