Divine Power IPO subscribed 14 times on Day 1: Check price band, lot size and other key details

The initial public offering (IPO) of Divine Power, a manufacturer of wires and strips of copper and aluminium, opened to strong investor interest, with the issue being fully subscribed on the first day of bidding, June 25. The SME IPO was subscribed 14.36 times, with bids for 6.08 crore shares, compared to 42.3 lakh shares on offer.

To know more and apply for Divine Power IPO, CLICK HERE

Divine Power IPO category-wise subscriptions

Retail investors showed enthusiasm with a subscription rate of 22.18 times, bidding for 4,68,48,000 shares against the available 21,11,978 shares. Non-Institutional Investors (NIIs) also demonstrated significant interest, subscribing to their allocation 15.35 times. NIIs bid for 1,39,02,000 shares against 9,05,134 shares available.

The Qualified Institutional Buyers (QIBs) category, however, saw minimal subscription at 0.06 times, with bids received for only 78,000 shares against 12,17,110 available.

Divine Power IPO has already raised ₹6.48 crore from anchor investors.

Divine Power IPO price band

The Divine Power IPO, valued at ₹22.76 crore, comprises entirely of a fresh issue of 56.9 lakh shares.

The price band for the Divine Power IPO has been set in the range of ₹36 to ₹40, with a lot size of 3,000 shares, requiring a minimum investment of ₹1,20,000 from retail investors. High Net Worth Individuals (HNI) are required to apply for a minimum of two lots, or 6,000 shares, requiring an investment of ₹2,40,000.

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