Danish Power IPO fully booked within hours of launch; check subscription status so far and other key details

Danish Power IPO was fully subscribed within a few hours of launch on the first day of bidding on Tuesday, October 22, driven by high demand from retail investors.

The NSE SME issue was booked 1.15 times as investors placed bids for over 40.2 lakh shares against the 34.83 lakh shares on offer, the NSE data till 1:45 pm showed.

On the first day of subscription retail individual investors led the demand for the IPO by applying for over 31.51 lakh shares against the 17.09 lakh shares set aside for the category. The retail portion of the IPO was booked 1.84 times. The NSE SME issue was subscribed 92% in the Non-Institutional Investors’ (NIIs) category with applications for more than 6.8 lakh shares against the 7.32 lakh shares set aside for them.

The Qualified Institutional Buyers (QIBs) placed bids for over 1.84 lakh shares compared to the 9.76 lakh shares set aside for the category. The QIBs booked 18% of their quota.

Employees of the company have placed bids for 3,300 shares.

Danish Power IPO: Offer size, price band and other details

Retail investors interested in applying for Danish Power IPO can place bids for a minimum lot size of 300 shares, which aggregates to an investment of ₹1,14,000. On the other hand, High Net-worth Individuals (HNIs) can place bids for a minimum lot size of 2 lots, or 600 shares, amounting to ₹2,28,000.

Danish Power IPO dates

The share allotment status is likely to be finalised on Friday, October 25. The company will initiate refunds for unsuccessful bidders on Monday, October 28, and the allottees will receive shares of Danish Power in their Demat accounts on the same day.

Shares of Danish Power will list on the NSE SME platform, Emerge. The tentative listing date for Danish Power shares is Tuesday, October 29.

Danish Power key financials

Danish Power’s revenue for Q1FY25 stood at ₹72.73 crore and its Profit-After-Tax (PAT) stood at ₹9.98 crore. The company’s net-worth was ₹92 crore at the end of the June quarter of the current fiscal.

In FY24, Danish Power reported a revenue of ₹334.63 crore and its net profit stood at ₹38.07 crore. At the end of the fiscal ended March 31, 2024, the company’s net-worth stood at ₹82.13 crore.

Danish Power IPO registrar

The registrar for Danish Power IPO is Link Intime India Private Ltd. The book running lead manager for the SME issue is Hem Securities Limited and the market maker is Hem Finlease.

Danish Power Promoters

The promoters of the company are Dinesh Talwar, Shivam Talwar and Puneet Sandhu Talwar. The promoters collectively held 99.99% stake in the company before the issue. After the public offer, the stake of the promoters will be reduced to 73.55%.

Danish Power IPO objective

Danish Power plans to use the money raised via the public issue for funding the expansion of the manufacturing facility of the company by building a factory shed and installing additional plant and machinery. Additionally, a portion of the funds will also be used for working capital requirements, repayment of borrowings and general corporate purposes.

About Danish Power Limited

Danish Power Limited was founded in July 1985. The company manufactures various types of transformers. The products made by the company are used in renewable power projects such as solar power plants and wind farms. They also produce other components such as oil and dry type power distribution transformers and control relay panels. The company also offers substation automation services.

The company has two manufacturing plants in Jaipur, Rajasthan.

Key clients of the company include Tata Power Solar System Ltd, Waaree Renewable Technologies Limited, Jakson Green Private Limited, ABB India Limited, and Torrent Power Limited. The company had 343 full-time employees as of March 31, 2024.