Divine Power IPO will open for subscription from 25 June 2024. The company aims for an issue size of ₹22.76 Cr through this IPO.
Company Overview
| Full name | Divine Power Energy Limited |
| Sector | Non – Ferrous Metals |
| Industry | Metal – Non-Ferrous |
| Company Website | https://www.dpel.in/ |
About Company
Divine Power Energy manufactures Bare Copper and Aluminium Wire, Bare Copper and Aluminium Strip, Winding Copper and Aluminium Wire, and Winding Copper and Aluminium Strip. Winding wires and strips undergo a process that includes annealing, insulation, and covering with materials such as paper, cotton, and fibreglass.
The company has distributed fiberglass-covered wires and strips to various markets, including Punjab, Bengaluru, and Ahmedabad, with promising opportunities in Maharashtra. Not able clients of the company include TATA Power, BSES, Madhyanchal Vidyut Vitaran Nigam, Purvanchal Vidyut Vitaran Nigam, Uttarakhand Power Corporation, and more operating in states such as Uttar Pradesh, Haryana, and Rajasthan.
As of June 2024, the company’s manufacturing facility boasts an installed capacity to process 300 metric tonnes of aluminum and 400 metric tonnes of copper each month. The company has a total of 40 permanent employees.
The Objectives of the Issue
- To meet the working capital requirements of the Company; and
- General Corporate Purpose
Divine Power IPO Timetable
| IPO Opening date | 25 June 2024 |
| IPO Closing | 27 June 2024 |
| Basis of Allotment | 28 June 2024 |
| Initiation Refund | 01 July 2024 |
| Credit to Demat Account | 01 July 2024 |
| Listing Date | 02 July 2024 |
Divine Power IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹22.76 Cr – 5,690,000 shares |
| Fresh Issue | ₹22.76 Cr – 5,690,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹36 to ₹40 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 288,000 shares |
| Shareholding pre-issue | 15,779,080 |
| Shareholding post-issue | 21,469,080 |
| Listing Exchange | NSE SME |
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 Offer Documents
Divine Power IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,620,000 (26.37%) |
| Market Maker Shares Offered | 288,000 (4.69%) |
| QIB Shares Offered | 1,217,110 (19.82%) |
| NII (HNI) Shares Offered | 905,134 (14.74%) |
| Retail Shares Offered | 2,111,978 (34.38%) |
| Total Shares Offered | 6,142,222 (100%) |
Divine Power Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 122.49 | 150.59 | 222.08 |
| Expenses | 121.66 | 146.20 | 214.56 |
| Net income | 0.90 | 2.85 | 6.41 |
Divine Power Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 0.66 | 2.31 | 4.06 |
| PE ratio | – | – | 8.87 – 9.85 |
| RONW (%) | 6.46 | 14.87 | 25.06 |
| NAV | 10.15 | 15.51 | 16.20 |
| ROCE (%) | 8.87 | 14.77 | 18.05 |
| EBITDA (%) | 4.66 | 6.87 | 6.76 |
| Debt/Equity | 3.57 | 2.46 | 2.24 |
Company Promoters
- Mr Rajesh Giri
- Mr Vikas Talwar
- Ms Dali Giri.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Divine Power Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 27 June 2024 | 60 | – | 1,31,000 |
| 26 June 2024 | 58 | – | 1,28,000 |
| 25 June 2024 | 51 | – | 1,07,500 |
| 24 June 2024 | 50 | – | 1,05,000 |
| 22 June 2024 | 40 | – | 93,000 |
| 21 June 2024 | 40 | – | 93,000 |
| 20 June 2024 | 25 | – | 62,500 |
Divine Power IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 12,17,110 | 9,05,134 | 21,11,978 | 42,34,222 |
| 27 Jun 2024 | 135.84 | 474.06 | 507.94 | 393.74 |
| 26 Jun 2024 | 0.14 | 63.07 | 102.54 | 64.67 |
| 25 Jun 2024 | 0.06 | 15.36 | 22.18 | 14.37 |
Divine Power IPO Allotment Status
Divine Power IPO allotment status will be available on the Bigshare Services website. Click on this link to get allotment status.
Divine Power IPO Listing Details
| Listing Date | |
| BSE Scrip Code | |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Divine Power IPO Listing Day Update
| Listing Exchange | |
| Final Issue Price | |
| Open | |
| Low | |
| High | |
| Last Trade |
Divine Power Lead Manager(s)
KHAMBATTA SECURITIES LIMITED
806, 8th Floor, Tower-B, World Trade Tower, Noida
Sector-16, Uttar Pradesh-201301, India
Phone: +91-9953989693
Email: ipo@khambattasecurities.com
Website: www.khambattasecurities.com
Divine Power Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Divine Power Contact Details
DIVINE POWER ENERGY LIMITED
Unit No. Offices, 1st Floor, CSC-II, B-Block, Surajmal
Vihar, New Delhi-110092, India
Phone: 011-36001992/ 2842
E-mail: info@dpel.in
Website: www.dpel.in
Divine Power IPO FAQs
What is the Divine Power offer size?
Divine Power’s offer size is ₹ 20.48 – 22.76 crores.
What is the Divine Power offer price band?
Divine Power’s public offer price is ₹ 36 – 40 per share.
What is the lot size of the Divine Power Offer?
Divine Power offer a lot size is 3,000 shares.
What is Divine Power Offer GMP today?
Divine Power IPO GMP today is ₹ 60 per share.
What is the Divine Power kostak rate today?
Divine Power kostak rate today is ₹ NA per application.
What is Divine Power Subject to the Sauda rate today?
Divine Power is Subject to the Sauda rate today is ₹ 1,31,000 per application.
Final thoughts
Divine Power IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
