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16 Nov 2024
Divine Power Energy Limited IPO
Divine Power Energy Limited manufactures Bare Copper/ Aluminium Wire, Bare Copper/ Aluminium Strip, etc. Winding wires/strips are manufactured by annealing and insulating wires/strips and covering them with paper, cotton, fiberglass, etc. Winding wires/ strips covered with paper, crepe paper, and cotton are sold to power distribution companies and transformer manufacturers to manufacture transformers and fix normal wear and tear. In the current calendar year, their company started manufacturing wires/strips covered with fiberglass which are used in manufacturing electromagnetic coils, like the one used in lifting magnets which are used to lift heavy objects like containers, machinery, etc. Divine Power IPO is a book-built issue of Rs 22.76 crores.
The issue is entirely a fresh issue of 56.9 lakh shares. Divine Power IPO opens for subscription on June 25, 2024 and closes on June 27, 2024. The allotment for the Divine Power IPO is expected to be finalized on Friday, June 28, 2024. Divine Power IPO price band is set at ₹36 to ₹40 per share. The minimum lot size for an application is 3000 Shares. Khambatta Securities Limited is the book-running lead manager of the Divine Power IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Divine Power IPO is Nikunj Stock Brokers.
Divine Power IPO Overview
| Detail | Description |
|---|---|
| IPO Date | June 25, 2024 to June 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹36 to ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 5,690,000 shares (aggregating up to ₹22.76 Cr) |
| Fresh Issue | 5,690,000 shares (aggregating up to ₹22.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 15,779,080 |
| Shareholding post issue | 21,469,080 |
| Market Maker portion | 288,000 shares Nikunj Stock Brokers |
Divine Power IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, June 25, 2024 |
| IPO Close Date | Thursday, June 27, 2024 |
| Basis of Allotment | Friday, June 28, 2024 |
| Initiation of Refunds | Monday, July 1, 2024 |
| Credit of Shares to Demat | Monday, July 1, 2024 |
| Listing Date | Tuesday, July 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2024 |
Divine Power IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
Divine Power IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Divine Power IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Divine Power IPO Anchor Investors Details
| Bid Date | June 24, 2024 |
| Shares Offered | 1,620,000 |
| Anchor Portion Size (In Cr.) | 6.48 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 26, 2024 |
Company & Financials
Incorporated in 2001, Divine Power Energy Limited manufactures Bare Copper/Aluminum Wire, Bare Copper/Aluminum Strip, Winding Copper/Aluminum Wire, and Winding Copper/Aluminum Strip. Winding wires/strips are produced by annealing and insulating wires/strips and covering them with materials like paper, cotton, fiberglass, etc. The company has sent fiberglass-covered wires/strips to markets in Punjab, Bengaluru, and Ahmedabad. It sees potential in markets like Maharashtra. The company primarily sells winding wires to power distribution companies and transformer manufacturers. The company's clients include TATA Power Limited, Paschimanchal Vidyut Vitran Nigam Limited, BSES, Madhyanchal Vidyut Vitaran Nigam Limited, Dakshinanchal Vidyut Vitran Nigam Limited, Purvanchal Vidyut Vitaran Nigam Limited, Uttarakhand Power Corporation Limited, etc.
Divine Power Energy Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 8,889.24 | 7,253.31 | 6,276.46 | |||||||||||||||||||||||||||||||||||||
| Revenue | 22,272.00 | 15,084.20 | 12,290.38 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | 640.59 | 284.94 | 80.51 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 2,556.53 | 1,915.94 | 1,246.00 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 978.62 | 338.03 | 1,231.72 | |||||||||||||||||||||||||||||||||||||
| Total Borrowing | 5,785.44 | 4,763.84 | 4,466.34 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 25.06% |
| ROCE | 16.25% |
| Debt/Equity | 2.26 |
| RoNW | 25.06% |
| PAT Margin (%) | 2.88 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.06 | 2.98 |
| P/E (x) | 9.85 | 13.41 |
Objectives of Divine Power IPO
The company intend to utilize the proceeds of the Issue to meet the following objectives: -
- 1. To meet the working capital requirements of the Company.
- 2. General Corporate Purpose.
Divine Power IPO Review
The company is operating in a highly competitive and fragmented segment of bare copper/aluminum wires/strips etc. It marked growth in top lines for the reported periods, but the sudden boost in its bottom line for FY24 raised eyebrows. Based on FY24 super earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the long term.
FAQs for Divine Power IPO
-
What is Divine Power IPO?
Divine Power IPO is an NSE SME IPO. They are going to raise ₹22.76 Crores via IPO. The issue is priced at ₹36 to ₹40 per equity share. The IPO is to be listed on NSE.
-
When will the Divine Power IPO open?
The IPO is to open on June 25, 2024 for QIB, NII, and Retail Investors.
-
What is Divine Power IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Divine Power's IPO Size?
Divine Power's IPO size is ₹22.76 crores.
-
What is the Divine Power IPO Price Band?
Divine Power IPO Price Band is ₹36 to ₹40 per equity share.
-
What is Divine Power IPO Minimum and Maximum Lot Size?
The IPO bid is 3000 shares with ₹120,000.
-
What is Divine Power IPO Allotment Date?
Divine Power IPO allotment date is June 28, 2024.
-
What is Divine Power IPO Listing Date?
Divine Power's IPO listing date is July 2, 2024. The IPO to list on NSE SME.
RHP:
RHP of Divine Power Energy Limited IPO
DRHP:
DRHP of Divine Power Energy Limited IPO
Anchor Investor Link:
Anchor Investor Link of Divine Power Energy Limited IPO
-
What is Divine Power IPO?
Divine Power IPO is an NSE SME IPO. They are going to raise ₹22.76 Crores via IPO. The issue is priced at ₹36 to ₹40 per equity share. The IPO is to be listed on NSE.
-
When will the Divine Power IPO open?
The IPO is to open on June 25, 2024 for QIB, NII, and Retail Investors.
-
What is Divine Power IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Divine Power's IPO Size?
Divine Power's IPO size is ₹22.76 crores.
-
What is the Divine Power IPO Price Band?
Divine Power IPO Price Band is ₹36 to ₹40 per equity share.
-
What is Divine Power IPO Minimum and Maximum Lot Size?
The IPO bid is 3000 shares with ₹120,000.
-
What is Divine Power IPO Allotment Date?
Divine Power IPO allotment date is June 28, 2024.
-
What is Divine Power IPO Listing Date?
Divine Power's IPO listing date is July 2, 2024. The IPO to list on NSE SME.
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