Transformer manufacturer Danish Power is about to make the largest initial public offering (IPO) in the SME sector. With a price range of Rs 360 to Rs 380 per share, the Rs 197.90 crore IPO will be available for subscription from Tuesday, October 22, through Thursday, October 24.
52.08 lakh equity shares are being offered as the first public offering. On October 21, the anchor investor bidding will be held for one day.
KP Green Engineering had the biggest SME IPO before Danish Power, with a Rs 189.5 crore issue size.
Lot size and minimum bid
A minimum of one lot size, comprising 300 shares valued at Rs 1,14,000, is available to investors. The minimum investment for wealthy people is two lots worth Rs 2,28,000.
#Danish Power Limited (SME) IPO
The Co. Engaged in Transformer, etc. Business. pic.twitter.com/Y9p5z1B5tk— IPO DELIVER (@IPODELIVER) October 13, 2024
Qualified institutional buyers (QIBs) will receive half of the net issue, (RIIs) retail investors will receive 35 per cent, and non-institutional investors (NIIs) will receive the remaining 15 per cent.
Subscription and listing timeline
The subscription period for the company's shares will begin on Tuesday, October 22, 2024, and end on Thursday, October 24, 2024. It is anticipated that these will go public on the NSE SME on Tuesday, October 29, 2024.
It is expected that successful bidders will receive their shares for the Danish Power IPO on Friday, October 25, 2024, and that the allottees' demat accounts will be credited on Monday, October 28, 2024.
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Company financials
For the fiscal year 2023–2024 (FY24), the company reported a consolidated profit after tax (PAT) of Rs 38.07 crore and revenue of Rs 332.5 crore. In Q1 of FY25, the revenue was Rs 71.93 crore, while the PAT was Rs 9.98 crore.