Danish Power IPO Day 2: Issue subscribed 12 times so far; check price band, lot size, key dates and more

The initial public offering of transformer manufacturer Danish Power has received a good response from investors. The IPO has been subscribed 12.01 times so far on Wednesday, the second day of bidding.

The initial share sale is solely a fresh issuance of 52.08 lakh shares without an offer-for-sale component.

The net proceeds from the issue will be used to expand the manufacturing facility and machinery, build a factory shed, repay debt, and serve general corporate purposes.

Danish Power IPO: Lot size

Interested investors can bid for at least one lot size, consisting of 300 shares, taking transaction value to ₹1,08,000. High-net-worth individuals can bid for a minimum of two lots worth ₹2,16,000.

The company has set aside 50% of the offer for QIBs, 35% for retail investors and 15% for NIIs.

Hem Securities Ltd is the book-running lead manager of the IPO, while Link Intime India is the registrar.

Danish Power IPO: Allotment, refund and listing date

• Subscription period: October 22 to October 24
• Allotment finalisation: October 25
• Refund initiation: October 28
• Demat transfer: October 28
• Listing on NSE SME: October 29

About Danish Power

The company manufactures various transformers, including inverter duty transformers for renewable power projects like wind farms and solar power plants and oil and dry power and distribution transformers.

The company's clients include Tata Power Solar System Ltd, ABB India Ltd, Waaree Renewable Technologies Ltd, Jakson Green Pvt Ltd and Torrent Power Ltd.