Danish Power IPO Subscription Status

Danish Power's initial public offering (IPO) has garnered exceptional investor interest, with subscription rates increasing dramatically over the three-day period. Starting strongly on day one, the IPO witnessed substantial growth in demand, resulting in a 70.02 times oversubscription by 2:20:01 PM on day three. This robust response underscores the overwhelming market appetite for Danish Power's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 22nd October 2024, has seen significant growth in investor participation across all categories. The Non-Institutional Investors (NII) segment, in particular, has shown overwhelming demand, followed by strong interest from Retail Investors and Qualified Institutional Buyers (QIB).

This enthusiastic response to Danish Power's IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the power and renewable energy sector. The company's specialization in transformers for renewable power projects appears to have strongly resonated with investors.
 

Subscription Status of Danish Power IPO for Days 1, 2, and 3:

Here are the subscription details for Danish Power IPO as of Day 3 (24th October 2024, 2:20:01 PM):

Total Applications: 362,887

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Danish Power IPO is currently subscribed 70.02 times, with exceptional demand across all investor categories.
• Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 119.85 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 63.69 times.
• Qualified Institutional Buyers (QIB) have shown substantial interest, with a subscription ratio of 48.28 times.
• The overall subscription trend shows dramatic increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Danish Power IPO - Day 2 Subscription at 21.34 Times

Key Highlights:

• Overall subscription surged to 21.34 times, showing strong momentum.
• Retail investors showed significantly increased interest with a subscription ratio of 28.27 times.
• Non-Institutional Investors (NII) demonstrated strong enthusiasm with 25.43 times subscription.
• Qualified Institutional Buyers (QIB) improved to 7.51 times subscription.
• The subscription trend indicated building momentum across all categories.

Danish Power IPO - Day 1 Subscription at 4.19 Times

Key Highlights:

• The IPO opened with a strong overall subscription of 4.19 times.
• Retail investors showed solid initial interest with a subscription ratio of 4.88 times.
• Non-Institutional Investors (NII) demonstrated good demand with 3.62 times subscription.
• Qualified Institutional Buyers (QIB) showed strong first-day participation at 3.67 times.
• The strong first-day response laid a solid foundation for the remaining days.

About Danish Power Limited

Danish Power Limited, founded in July 1985, specializes in manufacturing various types of transformers, including inverter duty transformers for renewable power projects such as solar power plants and wind farms. The company also produces oil and dry type power and distribution transformers, control relay panels, and offers substation automation services.

The company's financial performance for FY 2024 showed revenue of ₹33,463.84 lakhs, and a Profit After Tax (PAT) of ₹3,807.27 lakhs. As of 30th June 2024, key performance indicators highlight the company's financial health, with a Return on Equity (ROE) of 11.94%, Return on Capital Employed (ROCE) of 12.30%, and a PAT Margin of 14.58%. The company maintains a healthy Debt/Equity ratio of 0.27.

Danish Power operates two manufacturing plants in Jaipur, located in the Sitapura Industrial Area and Mahindra World City. The company serves notable clients including Tata Power Solar System Ltd, Waaree Renewable Technologies Limited, and ABB India Limited. As of 31st March 2024, the company had 343 full-time employees.

Highlights of the Danish Power IPO

• IPO Date: 22nd October 2024 to 24th October 2024
• Listing Date: 29th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹360 to ₹380 per share
• Lot Size: 300 Shares
• Total Issue Size: 5,208,000 shares (aggregating up to ₹197.90 Cr)
• Fresh Issue: 5,208,000 shares (aggregating up to ₹197.90 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Hem Securities Limited
• Registrar: Link Intime India Private Ltd
• Market Maker: Hem Finlease