The titled dye of DBPI gives amplified spontaneous emission (ASE) with maximum at 580 nm upon pumping by nitrogen laser (${lambda}_{ex};=;337.1;nm$). The ground state absorption cross section (${sigma}_A$) and emission cross section (${sigma}_E$) as well as effective emission cross section(${sigma}^*_E$) have been determined. The electronic absorption spectra of DBPI were measured in ethanol and tetrahydrofuran at room and low temperature. DBPI displays molecular aggregation in water. The photochemical reactivity of DBPI was also studied in carbon tetrachloride upon irradiation with 525 nm light. The electrochemical investigation of DBPI dye has been carried out using cyclic voltammetry and convolution deconvolution voltammetry combined with digital simulation technique at a platinum electrode in 0.1 mol/L tetrabutyl ammonium perchlorate (TBAP) in two different solvents acetonitrile ($CH_3CN$) and dimethylformamide (DMF). The species were reduced via consumption of two sequential electrons to form radical anion and dianion (EE mechanism). In switching the potential to positive direction, the compound was oxidized by loss of two sequential electrons, which were followed by a fast dimerization and/or aggregation process i.e $EC_{dim1}EC_{dim2}$ mechanism. The electrode reaction pathway and the chemical and electrochemical parameters of the investigated compound were determined using cyclic and convolutive voltammetry. The extracted electrochemical parameters were verified and confirmed via digital simulation method.