The Danish Power IPO is structured as a book-built issue, amounting to ₹197.90 crores, consisting entirely of a fresh issue of 52.08 lakh shares.
The IPO will open for subscription from October 22, 2024, to October 24, 2024, with the allotment expected to be finalized on Friday, October 25, 2024. The tentative listing date on the NSE SME is set for Tuesday, October 29, 2024.
The price band for the Danish Power IPO has been established between ₹360 and ₹380 per share. A minimum lot size of 300 shares is required for an application, with the minimum investment amount set at ₹114,000 for retail investors. For high-net-worth individuals (HNIs), the minimum investment requirement is two lots, totaling 600 shares, which amounts to ₹228,000.
Read Danish Power IPO RHP for detailed information.
| IPO Date | October 22, 2024 to October 24, 2024 |
| Listing Date | October 29, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 360 to ₹ 380 / Share |
| Lot Size | 300 Shares |
| Total Issue Size | ₹197.90 Cr |
| Fresh Issue | ₹197.90 Cr |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,483,610 |
| Share holding post issue | 19,691,610 |
| Market Maker portion | 260,700 shares |
Danish Power Limited IPO opens on October 22, 2024, and closes on October 24, 2024.
| IPO Open Date | October 22, 2024 |
| IPO Close Date | October 24, 2024 |
| Basis of Allotment | October 25, 2024 |
| Initiation of Refunds | October 28, 2024 |
| Credit of Shares to Demat | October 28, 2024 |
| Listing Date | October 29, 2024 |
| Cut-off time for UPI mandate confirmation | October 24, 2024 |
A minimum bid of 300 shares, and in multiples thereof, is permitted for investors. The table below illustrates the minimum and maximum investment amounts for retail investors and high-net-worth individuals (HNIs) in terms of the number of shares and the corresponding investment amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 300 | Rs.114,000 |
| Retail (Max) | 1 | 300 | Rs.114,000 |
| S-HNI (Min) | 2 | 600 | Rs.228,000 |
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) |
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 73.55% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
|
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Founded in July 1985, Danish Power Limited is engaged in the manufacturing of various types of transformers, including inverter duty transformers designed for renewable power projects such as solar power plants and wind farms. The company also produces oil and dry-type power and distribution transformers, control relay panels, and offers substation automation services.
The product portfolio of the company is categorized as follows:
The company operates two manufacturing plants in Jaipur, located in the Sitapura Industrial Area and Mahindra World City. The Mahindra World City facility is certified for the Quality Management System ISO 9001:2015, Environmental Management System ISO 14001:2015, and Occupational Health and Safety Management System ISO 45001:2018 for design, development, and manufacturing.
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.
Competitive strengths include:
| KPI | Values |
|---|---|
| ROE | 11.94% |
| ROCE | 12.30% |
| Debt/Equity | 0.27 |
| RoNW | 10.85 |
| P/BV | 14.58 |
| PAT Margin (%) |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 26.29 | 20.28 |
| P/E (x) | 14.46 | 18.74 |
The net proceeds are proposed to be utilized for the following purposes:
Danish Power Limited DTA-02-07-08, DTA Phase-II, , PO, Mahindra World City, Mahindra World City Sanganer Jaipur-302037 Phone: +91- 9001829230 Email: cs@danish.co.in Website: https://www.danish.co.in/ |
Phone: +91-22-4918 6270 Email: danishpower.smeipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
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