Divine Power Energy IPO Hits 287.50% Premium Upon Listing

Divine Power Energy IPO - Lists at Big Premium of 287.50%

Divine Power Energy had a very strong listing on July 2, 2024, debuting at ₹155.00 per share, which marks a substantial premium of 287.50% over the issue price of ₹40 per share in its SME IPO on the NSE. Below is the pre-open price discovery summary for Divine Power Energy IPO on the NSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: NSE

The SME IPO of Divine Power Energy was a book built IPO in the price band of ₹36 to ₹40 per share. Considering the strong subscription response at over 393X and the anchor allocation being done at the upper end of the band, the price discovery of the IPO also happened at the upper end of the price band at ₹40 per share. On 02nd July 2024, the stock of Divine Power Energy listed at ₹155.00 per share, a premium of 287.50% over the IPO issue price of ₹40.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹162.75 and the lower circuit price has been set at ₹147.25. 

As of 10.08 am, the volumes were 22.35 lakh shares while the turnover (value) was at ₹3,504 lakhs. The opening market cap of the stock stands at ₹326.30 crore. The equity shares of Divine Power Energy (Symbol: DPEL) shall be in Series ST (Trade for Trade Surveillance Segment (TFTS) – Settlement Type W) and subsequently be shifted to Series SM (Normal Rolling Segment – Settlement Type N). At 10.08 am, the stock is trading at ₹150.20, which is -3.10 below the listing price of ₹155.00 per share and the stock is trading slightly tepid after a very strong listing on Tuesday. The stock of Divine Power Energy has a face value of ₹10 per share and the market lot comprises of 3,000 shares. The stock trades under the NSE symbol (DPEL) and the ISIN code for demat credits will be (INE0SCO01019).

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