1) Danish Power IPO size
The IPO is entirely a fresh equity sale of 52.08 lakh shares and through the issue the company raised Rs. 197 crore planned to be raised.
2) Danish Power IPO Price Band
The company sold its shares at Rs. 360-380 and investors can bid for 300 shares in 1 lot.
3) Danish Power GMP
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In the unlisted market, the GMP of the company’s shares stood at Rs. 265, which represents a premium of 70% over the issue price.
4) About Danish power
Danish Power is engaged in the business of manufacturing various types of transformers including inverter duty transformers used in renewable power projects including solar power plants or wind farms, oil and dry type power and distribution transformers, control relay panels along with substation automation services.
5) Industry overview
In FY23, India’s production of heavy electrical equipment stood at Rs. 2.44 lakh crore was. The electrical machinery segment grew by nearly 13% with shipments surging to $10.19 billion in the April-December 2023 period.
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6) Danish Power financial performance
For the year ended March 2024, the company’s revenue from operations stood at Rs. 335 crore, while profit after tax was Rs. 38.07 crores.
7) Items of Offer
Danish Power is engaged in the business of manufacturing a wide variety of transformers including inverter duty transformers used in renewable power projects including solar power plants or wind farms, oil and dry type power and distribution transformers, control relay panels along with substation automation services.
8) Lead Manager and Registrar
Ham Securities is acting as the lead manager of the issue and Link Intime India is the registrar.
9) Structure of the issue
About 50% of the offering is reserved for qualified institutional buyers, 35% for retail investors and another 15% for non-institutional investors.
10) Important dates
The IPO opened on October 22 and will close on October 24. The final allotment will be done on October 25. The shares of the company are likely to be listed on October 29.
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