Fri Oct 25 07:59:54 UTC 2024: **Summary of Danish Power IPO News:**
– Danish Power’s IPO opened for investment on Tuesday, October 22, and will be available until October 24.
– On the first day, the issue was subscribed 1.18 times.
– This is the largest IPO for an SME company to date, with a size of ₹198 crores.
– The IPO sets a price band of ₹360-380 per share, with a lot size of 300 shares.
– Minimum investment per lot is ₹1,08,000 and maximum is ₹1,14,000.
– In the grey market, shares are priced at a premium of ₹265, indicating a potential profit of up to 70% upon listing.
– Prior record for SME IPO size was held by KP Green Engineering at ₹189.5 crores in March 2023.
– The year 2024 has already seen nine SME IPOs over ₹100 crores, compared to one in 2023.
– Danish Power competes with companies like Indo Tech Transformers and provides transformers and panels to major clients such as Tata Power, ABB India, and Torrent Power.
– The IPO is managed by Hem Securities, with Link Intime India as the registrar.
This IPO reflects a growing trend in the SME segment, indicating increased investor interest in such offerings.
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