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Danish Power IPO: Biggest SME Issue Launches on Oct 22 – Check Out the Details!

Danish Power's ₹197.90 crore SME IPO opens from October 22-24 with a price band of ₹360-₹380 per share, marking the largest IPO in the SME segment.

Danish Power, a prominent transformer manufacturer, is preparing to launch the biggest-ever initial public offering (IPO) in the SME segment. Valued at ₹197.90 crore, the IPO will be open for subscription from Tuesday, October 22, to Thursday, October 24, with a price band set between ₹360-₹380 per share.

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IPO Details: Fresh Issue of Equity Shares

The IPO will consist of an entirely fresh issue of 52.08 lakh equity shares. Anchor investors will have the opportunity to bid on October 21, a day before the public subscription opens. The funds raised will be allocated for purchasing new plant and machinery, building a factory shed, repaying debt, and general corporate purposes.

Danish Power IPO: Key Dates and Listing

  • IPO Subscription Closes: October 24, 2024
  • Allotment Date : Expected on October 25, 2024
  • Listing Date: October 29, 2024

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About Danish Power

Danish Power specialises in manufacturing a wide range of transformers, including inverter duty transformers used in renewable energy projects such as wind farms and solar power plants. The company also offers control relay panels and substation automation services, serving major power generation and distribution sectors.

Company’s Financial Performance

Danish Power reported a profit after tax (PAT) of ₹38.07 crore and revenue of ₹332.5 crore for FY 23-24. In the first quarter of FY25, the company posted a PAT of ₹9.98 crore and revenue of ₹71.93 crore, highlighting its strong financial growth.

Also read: SEBI Allows Demat Accounts for Associations of Persons, Explore!

Lot Size, Investment, and IPO Allocation

Investors can apply for a minimum of one lot, which includes 300 shares worth ₹1,14,000. For high-net-worth individuals, the minimum investment is two lots, amounting to ₹2,28,000. Half of the net issue is allocated to qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors.

Hem Securities Limited is the book-running lead manager for the IPO, while Link Intime India has been appointed as the registrar for the issue.

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