Jaipur (Rajasthan) [India] October 17: Founded in July 1985, Danish Power Limited manufactures and supplies various types of transformers, including inverter duty transformers for use in renewable power projects such as solar power plants or wind farms and dry type power and distribution transformers, control relay panel along with substation automation services.
The company is poised for its initial public offering (IPO), with plans to raise INR 197.90 crores through the issuance of 52.08 lakh new shares.
For its SME Initial Public Offering (IPO), Danish Power Limited has established a price band of Rs. 360 to Rs. 380 per share. The company’s shares will open for subscription on Tuesday, October 22, 2024 and closes on Thursday, October 24, 2024. These will be listed on the NSE SME, with a projected listing date of Tuesday, October 29, 2024.
Hem Securities Limited is the book running lead manager of the Danish Power Limited IPO, while Link Intime India Private Ltd is the registrar for the issue.
The issue proceeds will be utilized for funding capital expenditure towards the expansion of the manufacturing facility of the Company by the building of factory shed and installation of additional plant and machinery, repayment in full or in part, of certain of the outstanding borrowings, to meet working capital requirements and general corporate purposes.
The shares for the Danish Power IPO are anticipated to be allotted on Friday, October 25, 2024, and credited to the demat accounts of the allottees on Monday, October 28, 2024. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs. 1.14 lakh considering the minimum lot size for an application is 300 shares. For HNIs, the minimum bidding size is two lots, or 600 shares, for a total investment of Rs 2.28 lakh at the upper price band.
The product portfolio of the company can be categorized such as Inverter Duty Transformers (multi-winding) upto 20 MVA 33 kV Class for Solar Plants, Transformers for Wind Turbine Generator, Distribution Transformers upto 5 MVA 33 kV Class, Power Transformers upto 63 MVA 132 kV Class, The Panel range includes Control Relay Panels up to 400 kV Class, Substation Automation (SCADA), Bus Bar Protection Panels, LT Panels, and APFC Panels.
The company operates two manufacturing plants in Jaipur, one located in the Sitapura Industrial Area and the other in Mahindra World City with installed capacity of 4681 MVA for transformers and 576 units of control relay panel.
At the Mahindra World City facility, the company designs and manufactures power transformers up to 50MVA – 66KV class, while the Sitapura facility handles power and distribution transformers up to 30MVA – 33KV class, among other products.