34.1 C
Ghaziabad
Thursday, July 25, 2024

Divine Power Energy’s Rs 23-crore IPO to open on June 25; details here | IPO News

Date:

Share post:



Divine Power Energy IPO details: Delhi-based Divine Power Energy Limited will open its initial public offer (IPO) on Tuesday, June 25, 2024. The manufacturer of insulated wires and strips aims to raise Rs 22.76 crore via the public offering of its shares in a price band of Rs 36-40 per share.


About Divine Power Energy Ltd


Incorporated in 2001, Delhi-based Divine Power Energy manufactures copper and aluminium wires/strips insulated with paper, crepe paper, and fiberglass, and supplies them to discoms and transformer manufacturers.


Divine Power Energy also sells super enamelled wires and strips, which are commonly used in transformer assembly and repair. It has a significant presence in North India, including Uttar Pradesh, Delhi, Uttarakhand, Haryana, Punjab, and Bihar.


Divine Power Energy’s manufacturing plant has an installed capacity of 300 metric tonnes for aluminium and 400 metric tonnes for copper per month. DPEL aims to boost the production of existing products and extend its product portfolio to meet growing demand in both existing and new markets.

That apart, Divine Power Energy’s clientele includes TATA Power, BSES, Uttar Pradesh Power Corporation, and Uttarakhand Power Corporation. It sources its raw materials from Birla Copper, Hindalco Aluminium, and Nalco.


Divine Power Energy IPO date


The company’s IPO will open on June 25, 2024 and close on June 27, 2024.


Divine Power Energy IPO Price


Divine Power Energy Ltd has fixed the price band for the IPO at Rs 36-40 per share.


Divine Power Energy IPO size


At the upper end of the price band of Rs 40, Divine Power Energy aims to raise Ra 2276 crore.


Divine Power Energy IPO type


The New Delhi-headquartered company’s IPO comprises a fresh issue of 5.68 million equity shares. As many as 1.62 million equity shares have been set aside for anchor investors, 1.08 million equity shares for QIBs, 8.1 Lakh equity shares for HNIs, and the Retail (RII) portion accounts for 1.89 million equity shares.


Investors may bid in the lots of 3,000 shares, and in multiples thereof.


Divine Power Energy IPO objective


According to the RHP document, Divine Power Energy aims to utilise Rs 18 crore of the IPO proceeds to meet the working capital requirements and plans to use the remaining capital for general corporate purposes.


Divine Power Energy Financials


According to the company’s RHP, Divine Power Energy posted a revenue of Rs 222.08 crore and a net profit of Rs. 6.4 crore in financial year 2023-24 (FY24) compared to a revenue of Rs 150.59 crore and a PAT of Rs 2.84 crore in FY23.


Exchange to be listed on


Divine Power Energy aims to get listed with the NSE Emerge index. 

First Published: Jun 19 2024 | 1:36 PM IST


LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Pro Kabaddi League 2024: PKL auction date, time, live streaming details | Pro Kabaddi League 2023-24

Pro Kabaddi League 2024 auction date and time2 min read Last Updated : Jul 25 2024...

Google Maps to allow direct booking of Metro tickets in Kochi, Chennai | Tech News

3 min read Last Updated : Jul 25 2024 | 3:33 PM IST Tech giant Google on...

Personality Test: What is your hidden love language? |

Ever wondered whether your feelings for your partner could be affection, attraction, or true love? Personality tests...

Can’t get over Wamiqa Gabbi’s netted veil at Couture Week 2024? Revisit celebrity looks that aced the aesthetic

Although Wamiqa Gabbi and Taha Shah Badussha's chemistry almost took over the sartorial regalia that...