Danish Power IPO

About Danish Power IPO

Danish Power is set to launch its IPO, aiming to raise ₹197.90 crore through a fresh issue of 52.08 lakh shares. The IPO opens for subscription on October 22, 2024, and will close on October 24, 2024. The allotment results are expected to be finalised by Friday, October 25, 2024. Following this, the shares will be listed on the NSE SME, with a tentative listing date scheduled for Tuesday, October 29, 2024.

The price band for the Danish Power IPO is set between ₹360 and ₹380 per share. Retail investors can participate by applying for a minimum lot size of 300 shares, requiring a minimum investment of ₹1,14,000. High Net Worth Individuals (HNIs) must apply for at least two lots, which is equivalent to 600 shares, totaling ₹2,28,000.

Hem Securities Limited serves as the book running lead manager for the IPO, while Link Intime India Private Ltd will act as the registrar for the issue. Hem Finlease is designated as the market maker for the Danish Power IPO, ensuring a smooth trading experience post-listing.

Industry Outlook:

1. In FY23, power consumption in India increased by 9.5%, reaching 1,503.65 billion units, up from 1,374.02 billion units in FY22. This growing demand is expected to continue as industrial activities expand and the population increases.
2. India ranked fourth globally in renewable energy investments, with US$ 77.7 billion allocated between 2015 and 2022. As of January 2023, India’s renewable energy capacity stood at 135.12 GW, excluding large hydro.
3. The Indian government is actively supporting the power sector through various initiatives, including 100% FDI allowance, which has led to significant foreign investments. The recent budget allocated 50% more funds for 14 power sector initiatives, focusing on green hydrogen, solar power, and energy corridors.

Danish Power IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. The funds will be used to support the construction of a new factory shed and the installation of additional machinery
2. Allocate funds to address the company's working capital requirements, ensuring smooth day-to-day operations and financial stability.
3. The proceeds will also be used for the prepayment or repayment of outstanding borrowings.
4. The remaining funds will be allocated towards general corporate purposes.

About Danish Power Limited

Danish Power Limited is a leading transformer manufacturing company established in 1985, renowned for its commitment to quality, sustainability, and innovation. Certified with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, the company produces a diverse range of products, including inverter duty transformers for renewable energy projects, distribution transformers, power transformers, and advanced control relay panels.

Operating from two state-of-the-art manufacturing facilities in Jaipur, Danish Power boasts a combined capacity of approximately 4681 MVA for transformer manufacturing and 576 units for control relay panels. These facilities are equipped with advanced machinery, including foil winding machines and vacuum drying ovens, and feature a NABL-accredited testing centre that ensures compliance with rigorous industry standards.

The company’s leadership, spearheaded by industry veterans Mr. Dinesh Talwar and Managing Director Shivam Talwar, has played a crucial role in its growth and innovation. Danish Power maintains strong relationships with suppliers and customers, sourcing high-quality raw materials like CRGO electrical steel and copper wire to produce reliable products.

Its diverse client base includes industry leaders such as Tata Power Solar System Ltd, Waaree Renewable Technologies Limited, Jakson Green Private Limited, ABB India Limited, and Torrent Power Limited. Danish Power's commitment to quality and timely delivery has earned it a stellar reputation and recognition as a one-star export house by the Government of India.

The company has also won the EEPC National Award for export excellence in the product group of transformers for 3 consecutive years. With a focus on renewable energy solutions and operational excellence, Danish Power Limited is poised for continued growth and success in the power sector.

Peer Details

According to RHP, The following are the listed peers of Danish Power Limited:

1. Indo Tech Transformers Limited
2. Shilchar Technologies Limited
3. Voltamp Transformers Limited

How to Check the Allotment Status of the Danish Power Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Danish Power IPO online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Danish Power IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Danish Power IPO

• Registered office: DTA-02-07-08, DTA Phase-II, PO, Mahindra World City, Mahindra World City (Jaipur), Jaipur, Sanganer, Rajasthan, India, 302037
• Phone: +91- 9001829230
• E-mail: cs@danish.co.in