Divine Power Energy Limited- IPO

NiftyTrader • June 25, 2024

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Divine Power Energy Limited’s (IPO) opens on June 25, 2024, and closes on June 27, 2024. The allotment for the Divine Power IPO is anticipated to be completed on Friday, June 28, 2024. The IPO will be listed on the NSE and SME, with a tentative listing date set for Tuesday, July 2, 2024.

The price band for the Divine Power IPO is set at Rs 36 to 40 per share. The IPO is a book-built issue of Rs 22.76 crores, entirely a fresh issue of 56.9 lakh shares.

Divine Power IPO Details

IPO Date	June 25, 2024 to June 27, 2024
Listing Date	[.]
Face Value	Rs 10 per share
Price	Rs 36 to Rs 40 per share
Lot Size	3000 Shares
Total Issue Size	5,690,000 shares (aggregating up to Rs 22.76 Cr)
Fresh Issue	5,690,000 shares (aggregating up to Rs 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

Divine Power IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	3000	Rs 120,000
Retail (Max)	1	3000	Rs 120,000
HNI (Min)	2	6000	Rs 240,000

Divine Power IPO Objectives

The objectives of the Issue are:

To meet its working capital requirements
Capital for general corporate purposes

About Divine Power Energy Limited

Divine Power Energy Limited (formerly known as PDRV Enterprises Pvt Limited), incorporated in 2001, is a leading manufacturer of insulated and bare copper and aluminum wires and strips in India.

The company has supplied fiberglass-covered wires and strips to markets in Punjab, Bangalore, and Ahmedabad. It also sees potential in markets like Maharashtra.

Divine Power Energy Limited’s clients include Tata Power Limited, Paschimanchal Vidyut Vitran Nigam Limited, BSES, Madhyanchal Vidyut Vitran Nigam Limited, Dakshinanchal Vidyut Vitran Nigam Limited, Purvanchal Vidyut Vitran Nigam Limited, and Uttarakhand Power Corporation Limited.

The company’s manufacturing facility is located in Sahibabad, Ghaziabad.

Divine Power Energy Limited Financial Information

Divine Power Energy Limited’s revenue increased by 47.65% and profit after tax (PAT) rose by 124.82% between the financial year ending with March 31, 2024 and March 31, 2023.

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

Divine Power IPO Timeline

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

Conclusion

Divine Power Energy Limited’s IPO opens on June 25, 2024, and closes on June 27, 2024, with a price band of Rs 36 to Rs 40 per share. The IPO aims to raise Rs 22.76 crores through a fresh issue of 5.69 million shares. The company, which manufactures insulated and bare copper and aluminum wires and strips, plans to use the funds for working capital and general corporate purposes. The IPO will be listed on the NSE SME, with the tentative listing date set for July 2, 2024. Divine Power Energy Limited has shown strong financial growth, with a 47.65% increase in revenue and a 124.82% rise in profit after tax from FY 2023 to FY 2024.