The price for the IPO of Divine Power Energy Ltd, based in New Delhi, is set at ₹36-40 per share. The IPO will open for investors on Tuesday, 25 June 2024, and will be available for subscription until Thursday, 27 June 2024. The anchor book, for larger institutional investors, opens on Monday, 24 June 2024.
The allotment of shares for this IPO is expected to be completed by Friday, 28 June 2024, and the shares are scheduled to start trading on the NSE SME on Tuesday, 2 July 2024.
Divine Power Energy IPO: Application Details
Retail investors need to buy at least one lot of 3,000 shares, costing ₹120,000. High Net Worth Individuals (HNIs) must buy at least two lots, or 6,000 shares, for a total of ₹240,000. The IPO reserves at least 35% of the total shares, which is 18,90,000 shares, for retail investors.
Objectives of the Divine Power Energy IPO
Divine Power Energy Ltd plans to raise ₹22.76 crore through this IPO. Out of this, ₹18 crore will be used for working capital, and the rest will go towards general corporate expenses.
About Divine Power Energy Ltd
Divine Power Energy Ltd supplies copper and aluminium wires and strips insulated with materials like paper and fibreglass to distribution companies (Discoms) and transformer manufacturers. They also trade super enameled wires and strips used in transformer installation and repair. Their products are mainly sold in North India, including Delhi, Uttarakhand, Punjab, Haryana, and Bihar.
Lead Managers and Registrar
Khambatta Securities Limited is the lead manager for this IPO, and Bigshare Services Private Limited will handle the registrar services.
Divine Power Energy IPO Grey Market Premium (GMP)
As per Investorgain.com, the grey market premium for Divine Power Energy’s shares is currently ₹25 per share. This means that in the grey market, Divine Power Energy’s shares are trading at ₹62.50 each, which is a 62.5% premium over the issue price of ₹40.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
