The Danish Power Limited IPO is set to open for subscription from October 22, 2024, and close on October 24, 2024. This IPO, worth ₹197.90 crores, is entirely a fresh issue of 52.08 lakh shares, with a price band set between ₹360 and ₹380 per share. The IPO aims to raise funds to expand the company’s manufacturing facilities, meet working capital needs, and for general corporate purposes. Danish Power, known for its production of transformers and substation automation services, is targeting investors with a minimum lot size of 300 shares, translating to an investment of ₹114,000 for retail investors.
Danish Power IPO 2024
Danish Power Limited has established a strong position in the power sector with its diverse product offerings, including inverter duty transformers for solar and wind power projects, along with distribution and power transformers. The company also provides substation automation services. As of now, the company holds substantial market share in India and has clients like Tata Power Solar, Waaree Renewable Technologies, and ABB India. The IPO listing will be done on NSE SME, with a tentative listing date of October 29, 2024.
Danish Power IPO Opening and Closing Dates
Attribute | Dates |
IPO Open Date | October 22, 2024 |
IPO Close Date | October 24, 2024 |
Basis of Allotment | October 25, 2024 |
Listing Date | October 29, 2024 |
Danish Power IPO Price Band and Lot Size
Attribute | Details |
Price Band | ₹360 to ₹380 per share |
Minimum Lot Size | 300 shares |
Retail Minimum Investment | ₹114,000 |
HNI Minimum Investment | ₹228,000 (600 shares) |
Danish Power IPO Issue Size and Composition
Issue Type | Data |
Total Issue Size | 5,208,000 shares (₹197.90 Cr) |
Fresh Issue | 5,208,000 shares (₹197.90 Cr) |
Market Maker Portion | 260,700 shares |
Pre-Issue Shareholding | 14,483,610 shares |
Post-Issue Shareholding | 19,691,610 shares |
Danish Power IPO Shareholder Reservation
Investor Category | Shares Offered |
Anchor Investor | 1,464,000 (28.11%) |
Market Maker | 260,700 (5.01%) |
QIB | 976,500 (18.75%) |
NII (HNI) | 732,900 (14.07%) |
Retail | 1,709,400 (32.82%) |
Anchor Investor Details
Bid Date | Year |
Anchor Bid Date | October 21, 2024 |
Shares Offered | 1,464,000 shares |
Anchor Portion Size | ₹55.63 Cr |
Lock-in Period for 50% shares | November 24, 2024 |
Lock-in Period for Remaining 50% shares | January 23, 2025 |
IPO Timeline (Tentative)
Event | Dates |
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 |
Minimum Investment for Retail and HNI Investors
Investor Type | Shares | Amount |
Retail (Minimum) | 300 shares | ₹114,000 |
Retail (Maximum) | 300 shares | ₹114,000 |
HNI (Minimum) | 600 shares | ₹228,000 |
Promoter Holdings
Shareholding Pre-Issue | Shareholding Post-Issue |
99.99% | 73.55% |
Danish Power Product Portfolio
Category | Details |
Inverter Duty Transformers | Up to 20 MVA 33 kV for Solar Plants |
Wind Turbine Generators | Transformers for Wind Power |
Power Transformers | Up to 63 MVA 132 kV Class |
Distribution Transformers | Up to 5 MVA 33 kV Class |
Control Relay Panels | Up to 400 kV Class |
Substation Automation (SCADA) | Bus Bar Protection Panels, LT Panels |
Danish Power Financial Highlights
Period | Revenue (₹ Lakhs) | Profit After Tax (₹ Lakhs) | Net Worth (₹ Lakhs) | Total Borrowing (₹ Lakhs) |
June 30, 2024 | 7,273.29 | 998.21 | 9,201.38 | 2,393.07 |
March 31, 2024 | 33,463.84 | 3,807.27 | 8,213.16 | 1,011.6 |
Key Performance Indicators
KPI | Values |
ROE (Return on Equity) | 11.94% |
ROCE (Return on Capital Employed) | 12.30% |
Debt/Equity Ratio | 0.27 |
RoNW (Return on Net Worth) | 10.85% |
PAT Margin | 14.58% |
IPO Comparison Pre and Post Issue
Metric | Pre-IPO | Post-IPO |
EPS (Earnings Per Share) | ₹26.29 | ₹20.28 |
P/E Ratio | 14.46x | 18.74x |
Objective of the Issue
Use of Proceeds | Facts |
Capital Expenditure | Expansion of manufacturing facility |
Working Capital Requirements | Meet current operational needs |
Repayment of Borrowings | Repayment of specific loans |
General Corporate Purpose | Other general expenses |
Company Overview Danish Power Limited
Attribute | Details |
Founded | July 1985 |
Business | Manufacturing of transformers and substation automation services |
Key Products | Inverter duty transformers, power transformers, control relay panels |
Clients | Tata Power Solar, ABB India, Torrent Power |
Manufacturing Facilities | Jaipur (Sitapura Industrial Area & Mahindra World City) |
Certifications | ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 |
IPO Subscription Information
Category | Shares Offered | Shares Bid For | Subscription (Times) |
QIB | 976,500 | 0 | 0.00x |
NII (HNI) | 732,900 | 348,600 | 0.48x |
Retail | 1,709,400 | 1,716,600 | 1.00x |
Total | 3,483,300 | 2,067,300 | 0.59x |
IPO Review Details
Review By | Recommendation |
Brokers | Subscribe |
Members | No Clear Opinion |
Danish Power Summary
The Danish Power IPO is a fresh issue worth ₹197.90 crores, opening on October 22, 2024, and closing on October 24, 2024. The price band is set between ₹360 to ₹380 per share, and the company is offering a minimum lot size of 300 shares. The proceeds will be used for capital expansion, working capital, and debt repayment. Investors can apply for this IPO through the NSE SME platform, with a tentative listing date of October 29, 2024. The IPO offers investors a chance to participate in the growth of a company engaged in power generation equipment manufacturing with a strong clientele in the renewable energy sector.