Danish Power IPO allotment finalised: How to check status online on NSE, Link Intime

Danish Power IPO allotment status finalised: Danish Power Ltd finalised the IPO share allotment on Friday, October 25, and investors can check the details online on NSE and Link Intime India Pvt Ltd. The IPO was open for subscription from October 22 to October 24.

IPO investors can easily check the share allotment status by following simple steps.

How to check Danish Power IPO allotment on Link Intime India website

• Go to Link Intime India Pvt Ltd website at https://www.linkintime.co.in/
• Click on Investor Services link on the main menu and select ‘Public Issues’
• Select Danish Power Ltd from the list of company names
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Submit to check the allotment status

Steps to check Danish Power allotment status online on NSE

• Open the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (New investors need to create Login & Password)
• Select Danish Power Ltd from the list for issue names
• Verify PAN
• Enter IPO application Number
• Click on Submit

Danish Power IPO subscription and other details

According to exchange data, the Danish Power Ltd IPO was booked more than 126 times. Bids for 44.14 equity shares were received against the net issue size of 34.83 lakh.

The Qualified Institutional Buyers (QIB) portion was booked 104 times, while the non-institutional investors’ (NIIs) portion was booked 275 times. The retail individual investors booked their quota 79 times.

The ₹197.9-crore initial public offering of Danish Power Ltd was a book-built issue. The IPO comprised a fresh issue of 52.08 lakh shares and no Offer-for-Sale (OFS) component. The company set the price band at ₹360 to ₹380 per share. The minimum lot size was 300 shares. The minimum investment required was ₹1,14,000 for retail investors.

Hem Securities Limited is the book-running lead manager.

Danish Power will initiate refunds and credit of shares to Demat accounts on Monday, October 28. The company has proposed to list shares on the NSE SME platform on Tuesday, October 29.

Danish Power IPO objectives

According to Danish Power RHP, the company will utilise ₹36.99 crore of the IPO proceeds to fund capital expenditure towards expanding its manufacturing facility in Jaipur. It plans to install additional plants and machinery.

The company will utilise ₹85 crore to meet working capital requirements and ₹20 crore for repayment of certain borrowing availed by the company, in part or full. As of September 30, 2024, its outstanding fund-based borrowings amounted to ₹ 21.25 crore.

About Danish Power

Danish Power Limited is engaged in the manufacturing of different types of transformers. It produces inverter duty transformers used in renewable power projects like solar power plants or wind farms, oil and dry type power and distribution transformers, control relay panels and substation automation services.