Bookbuilding IPO | ₹198 Cr | Listed at NSE SME | Tue, Oct 22, 2024 - Thu, Oct 24, 2024
Danish Power IPO is a book build issue of ₹197.90 crores. The issue is entirely a fresh issue of 0.52 crore shares of ₹197.90 crore.
Danish Power IPO bidding started from Oct 22, 2024 and ended on Oct 24, 2024. The allotment for Danish Power IPO was finalized on Oct 25, 2024. The shares got listed on NSE SME on Oct 29, 2024.
Danish Power IPO price band is set at ₹380 per share. The lot size for an application is 300. The minimum amount of investment required by an retail is ₹1,14,000 (300 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (600 shares), amounting to ₹2,28,000.
The issue includes a reservation of up to 64,500 shares for employees offered at a discount of ₹0.00 to the issue price.
Hem Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Danish Power IPO RHP for detailed Information.
IPO Open
Tue, Oct 22, 2024
IPO Close
Thu, Oct 24, 2024
Issue Price
₹380 per share
Market Cap (Pre-IPO)
₹748.28 Cr
| IPO Date | 22 to 24 Oct, 2024 |
| Listed on | Tue, Oct 29, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹360 to ₹380 |
| Issue Price | ₹380 per share |
| Lot Size | 300 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 52,08,000 shares (agg. up to ₹198 Cr) |
| Reserved for Market Maker | 2,60,700 shares Hem Finlease Pvt.Ltd. (agg. up to ₹10 Cr) |
| Fresh Issue (Ex Market Maker) | 49,47,300 shares (agg. up to ₹188 Cr) |
| Net Offered to Public | 49,47,300 shares (agg. up to ₹188 Cr) |
| Share Holding Pre Issue | 1,44,83,610 shares |
| Share Holding Post Issue | 1,96,91,610 shares |
| NSE Symbol | DANISH |
| ISIN | INE0YU901016 |
Danish Power IPO comprises a total issue size of 52,08,000 shares. The net offer to the public is 48,82,800 shares, after excluding 2,60,700 shares allotted on a firm basis and 64,500 shares under a preferential allotment. Of the Net offer 24,40,500 (49.98%) are allocated to QIB, 7,32,900 (15.01%) allocated to NII 17,09,400 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 24,40,500 | 49.98% | 46.86% |
| − Anchor Investor Shares Offered | 14,64,000 | 28.11% | |
| − QIB (Ex. Anchor) Shares Offered | 9,76,500 | 18.75% | |
| NII (HNI) Shares Offered | 7,32,900 | 15.01% | 14.07% |
| Retail Shares Offered | 17,09,400 | 35.01% | 32.82% |
| Preferential Reservations | |||
| Employee Shares Offered | 64,500 | 1.24% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,60,700 | 5.01% | |
| Total Shares Offered | 52,08,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 300 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 300 | ₹1,14,000 |
| Retail (Max) | 1 | 300 | ₹1,14,000 |
| HNI (Min) | 2 | 600 | ₹2,28,000 |
Danish Power IPO raises ₹55.63 crore from anchor investors. Danish Power IPO Anchor bid date is October 21, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Oct 21, 2024 |
| Shares Offered | 14,64,000 |
| Anchor Portion (₹ Cr.) | 55.63 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Nov 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jan 23, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Founded in July 1985, Danish Power Limited manufactures various types of transformers, including inverter duty transformers for use in renewable power projects such as solar power plants and wind farms. They also produce oil and dry type power and distribution transformers, control relay panels, and offer substation automation services.
The product portfolio of the company can be categorized as follows:
The company operates two manufacturing plants in Jaipur, one located in the Sitapura Industrial Area and the other in Mahindra World City.
The Mahindra World City manufacturing facility is certified for 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.
The company's clients include Tata Power Solar System Ltd, Waaree Renewable Technologies Limited, Jakson Green Private Limited, ABB India Limited, and Torrent Power Limited.
Competitive Strength
As of March 31, 2024, the company had 343 full-time employees and also employed personnel on a contractual basis.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 |
|---|---|---|
| Assets | 206.39 | 159.78 |
| Total Income | 72.73 | 334.64 |
| Profit After Tax | 9.98 | 38.07 |
| NET Worth | 92.01 | 82.13 |
| Reserves and Surplus | 77.53 | 80.52 |
| Total Borrowing | 23.93 | 10.12 |
| Amount in ₹ Crore | ||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards expansion of the manufacturing facility of the Company by building of factory shed and installation of additional plant and machinery therein | 36.99 |
| 2 | To meet working capital requirements | 85.00 |
| 3 | Repayment of certain borrowing availed by our Company, in part or full | 20.00 |
| 4 | General Corporate Purpose | 38.38 |
| KPI | Jun 30, 2024 |
|---|---|
| ROE | 11.94% |
| ROCE | 12.30% |
| Debt/Equity | 0.27 |
| RoNW | 10.85% |
| PAT Margin | 14.58% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 26.29 | 20.28 |
| P/E (x) | 14.46 | 18.74 |
| Promoter Holding | 99.99% | 73.55% |
| Market Cap | ₹748.28 Cr. |
The Danish Power IPO is subscribed 126.65 times on October 24, 2024 6:20:01 PM (Day 3). The public issue subscribed 79.88 times in the retail category, 104.79 times in the QIB category, and 275.92 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 104.79 | 9,76,500 | 10,23,32,100 | 0 |
| NII* | 275.92 | 7,32,900 | 20,22,20,100 | 0 |
| Retail | 79.88 | 17,09,400 | 13,65,50,400 | 0 |
| Total | 126.65 | 34,83,300 | 44,11,45,800 | 4,55,168 |
Total Application : 4,55,168
*Market Maker portion is not included to NII/HNI.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Standalone | Standalone | |
| Assets | 10,813.19 | 11,645.27 |
| Revenue | 18,943.79 | 14,917.12 |
| Profit After Tax | 857.09 | 524.88 |
| Net Worth | 4,244.96 | 3,387.87 |
| Reserves & Surplus | 4,244.96 | 3,387.87 |
| Total Borrowing | 1,389.15 | 2,832.05 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including Underwriting fees | 9.90 |
| 2 | Fees Payable to Registrar to the Issue | 0.04 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.33 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.19 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.22 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, Uploading fees and Miscellaneous Expenses) | 6.82 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹380.00 |
| Open | ₹570.00 |
| Low | ₹541.50 |
| High | ₹598.50 |
| Last Trade | ₹598.50 |
Lead Manager Reports
Danish Power IPO is a SME IPO of 52,08,000 equity shares of the face value of ₹10 aggregating up to ₹198 Crores. The issue is priced at ₹380 per share. The minimum order quantity is 300.
The IPO opens on Tue, Oct 22, 2024, and closes on Thu, Oct 24, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Danish Power IPO using UPI as a payment gateway. Zerodha customers can apply in Danish Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Danish Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Danish Power IPO opens on Tue, Oct 22, 2024 and closes on Thu, Oct 24, 2024.
Danish Power IPO lot size is 300, and the minimum amount required for application is ₹1,14,000.
You can apply in Danish Power IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Danish Power IPO will be done on Friday, October 25, 2024, and the allotted shares will be credited to your demat account by Mon, Oct 28, 2024. Check the Danish Power IPO allotment status.
The Danish Power IPO listing date is on Tue, Oct 29, 2024.
