Danish Power IPO Subscription Status

Danish Power IPO subscription started on 22 October 2024 and will close on 24 October 2024. Danish Power plans to raise INR 197.90 crores via the IPO. The price band is fixed at INR 360 – 380 per share. Danish Power IPO market lot has 300 shares and the minimum application amount is INR 1,14,000. The retail quota is 35%, QIB is 50% and NII is 15%.

Check Danish Power IPO subscription status here. The subscription figures are taken from NSE SME and are updated at regular intervals. Here you can find Danish Power IPO subscription status segregated by days and investor categories.

Danish Power IPO Subscription Status – Live Updates

The market maker reservation portion of 2,60,700 equity shares and anchor allocation of 14,64,000 shares are not included in the above calculations.

Danish Power – Business Background

Danish Power is a manufacturer of a wide range of transformers, including inverter duty transformers for renewable energy projects such as solar power plants and wind farms. The company also produces oil and dry-type power and distribution transformers, along with control relay panels and offers substation automation services. The company’s client base includes prominent companies such as Tata Power Solar System, Waaree Renewable Technologies, Jakson Green, ABB India, and Torrent Power.

The company operates two manufacturing facilities located in Sitapura Industrial Area and Mahindra World City, Jaipur. These facilities have a combined transformer production capacity of approximately 4681 MVA and can produce around 576 control relay panels annually. As of 31 March 2024, Danish Power employs a workforce of approximately 343 people across its operations.

Investor Categories in Danish Power IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Danish Power IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

Read Also: Jaipur-based SK Finance IPO out of SEBI abeyance

Danish Power IPO Subscription Status FAQs