HomeBusiness ›Divine Power Energy Limited Announces IPO Opening on June 25

Divine Power Energy Limited Announces IPO Opening on June 25

Divine Power Energy Limited (DPEL), a manufacturer of insulated wires and strips, has announced the launch of its initial public offering (IPO), set to open for subscription on June 25, 2024.

June 20, 2024. By News Bureau

Divine Power Energy Limited (DPEL), a manufacturer of insulated wires and strips, has announced the launch of its initial public offering (IPO), set to open for subscription on June 25, 2024. The anchor portion of the IPO will be available a day earlier, on June 24, 2024, with the issue set to conclude on June 27, 2024.

DPEL aims to raise approximately INR 22.76 crore at the upper price band from the IPO, with plans to list on NSE Emerge. The price band for the issue has been fixed at INR 36/- to INR 40/- per share, and the minimum lot size will be 3,000 equity shares. Khambatta Securities Limited is the Book Running Lead Manager for the offering, and Bigshare Services Private Limited has been appointed as the Registrar.

The IPO consists of a fresh issue of 56,88,000 equity shares at the cap price of the price band. Allocation details include 2.88 lakh equity shares reserved for Market Maker, 16.2 lakh for anchor investors, 10.8 lakh for Qualified Institutional Buyers (QIBs), 8.1 lakh for High Net-worth Individuals (HNIs), and 18.9 lakh for Retail Individual Investors (RIIs).

According to the Red Herring Prospectus (RHP), DPEL plans to utilise INR 18 crore from the IPO proceeds to meet its working capital requirements, with the remaining funds earmarked for general corporate purposes.

Financially, DPEL has shown considerable growth, posting a revenue of INR 222.08 crore and a profit after tax (PAT) of INR 6.4 crore for the financial year 2023-24. This marks a significant increase from the previous year’s revenue of INR 150.59 crore and PAT of INR 2.84 crore for FY2022-23.

DPEL, headquartered in New Delhi, specialises in manufacturing copper and aluminium wires and strips insulated with materials such as paper, crepe paper, and fibreglass. These products are primarily supplied to power distribution companies (discoms) and transformer manufacturers. The company also trades super-enamelled wires and strips, which are commonly used in transformer assembly and repair.

DPEL operates a state-of-the-art manufacturing facility in Ghaziabad, boasting an installed capacity of 300 metric tonnes of aluminium and 400 metric tonnes of copper per month. The company has a significant market presence in North India, including regions such as Uttar Pradesh, Delhi, Uttarakhand, Haryana, Punjab, and Bihar.

The company’s client portfolio includes prominent names like TATA Power Limited, BSES, Uttar Pradesh Power Corporation Limited, and Uttarakhand Power Corporation Limited. It sources raw materials from reputed suppliers such as Birla Copper, Hindalco Aluminium, and NALCO.

Please share! Email Buffer Digg Facebook Google LinkedIn Pinterest Reddit Twitter
If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.
 
 
Next events
 
 
Last interviews
 
Follow us