Divine Power Energy IPO allotment to be finalised today: Here’s how to check status

The initial public offering (IPO) of Divine Power, a manufacturer of wires and strips of copper and aluminium, generated significant investor interest, oversubscribing by 393.67 times. On the last day of bidding, June 27, according to the NSE, the issue was subscribed 394.16 times. Overall investors bid for 166 crore shares, far surpassing the 42.3 lakh shares available for subscription.

Divine Power IPO allotment is scheduled for today (June 28). Investors participating in the IPO can check their allotment status through the official website of the IPO’s registrar, Bigshare Services Pvt Ltd. Alternatively, they can also check it through their bank and demat accounts.

How to check Divine Power IPO allotment status on Bigshare:

• Visit the allotment page for Divine Power IPO at Bigshare.com — https://ipo.bigshareonline.com/ipo_status.html
• Choose ‘Divine Power’ from the dropdown menu
• Choose your preferred identification method, which could be PAN number, application number or demat account number
• Enter the corresponding details based on your choice
• Click the ‘Search’ button
• Your Divine Power IPO allotment status will be displayed on your screen

How to check Divine Power IPO allotment status on NSE

• Log on to the NSE website and head to the IPO allotment status page - https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• To check the allotment status on the NSE website, investors must create a new registration using details
• Log in to your account using the 'User ID' and 'Password' received in your e-mail
• Enter 'PAN' and bank details to proceed with your request
• The allotment status of Divine Power IPO will appear on the screen

Divine Power IPO category-wise subscription

Interest across all categories for the Divine Power IPO was strong. Retail investors exhibited the strongest enthusiasm, subscribing 508.69 times, bidding for 1,07,43,45,000 shares against the available 21,11,978 shares. Non-Institutional Investors (NIIs) also showed significant interest, subscribing 474.31 times, with bids received for 42,93,21,000 shares against 9,05,134 shares available. The Qualified Institutional Buyers (QIBs) category saw a subscription rate of 135.84 times, with bids received for 16,53,36,000 shares out of 12,17,110 available.

Divine Power IPO price band

The Divine Power IPO, valued at ₹22.76 crore, consists entirely of a fresh issue of 56.9 lakh shares. The price band for the IPO was set between ₹36 and ₹40 per share. Retail investors needed to apply for a minimum of 3,000 shares, requiring an investment of at least ₹1,20,000. High Net Worth Individuals (HNIs) had to apply for at least two lots, or 6,000 shares, which equated to an investment of ₹2,40,000. Additional shares could be subscribed for in multiples of 3,000.

Divine Power IPO key dates and other details

The Divine Power IPO was open for subscription from June 25 to June 27. Refunds for applicants who did not receive an allotment are expected to be processed by July 1, and on the same day, successful investors will see their shares credited to their demat accounts. The IPO is set to be listed on the NSE SME platform on July 2.

Khambatta Securities Limited is the book-running lead manager for the IPO, with Bigshare Services Pvt Ltd serving as the registrar. Nikunj Stock Brokers is acting act as the market maker for this offering.

About Divine Power

Divine Power Energy Limited is a manufacturer of bare copper and aluminium wires, strips and winding wires. The company was established in 2001. It also manufactures fiberglass-covered wires and strips. Some of its prominent clients include TATA Power Limited, BSES, Purvanchal Vidyut Vitaran Nigam Limited and Madhyanchal Vidyut Vitaran Nigam Limited.

To know more about IPOs listing, schedule and upcoming IPOs, click here