Danish Power share price lists with a decent 50% premium at ₹570 on the NSE SME

Danish Power share price listed with decent 50% premium at ₹570 on NSE SME on Tuesday. The IPO subscription and grey market premium had also indicated towards strong listing expectations by investors.

The Danish Power share price nevertheless fell 5% thereafter to hit lower price band.

Danish power IPO subscription that closed on 24 October had seen strong response The Initial Public offer was subscribed Danish 126.65 times. By October 24, 2024 (Day 3), the public offering had been subscribed to 79.88 times in the retail category, 104.79 times in the QIB category, and 275.92 times in the NII category.

The The GMP for Danish Power IPO stood at ₹246 according to data from Investorgain.com. This implies that the shares of Danish Power IPO can be purchased for ₹246 more than the issue price in the grey market.

According to the current GMP, investors of Danish power IPO anticipate that the company's shares will list at ₹ 626 apiece, which represents a 64.74% premium over the upper end of the issue price of ₹380.

The Danish Power IPO is a ₹197.90 crore book-built offering. A total of 52.08 lakh shares are being offered and being issued fresh.

Bidding for the Danish Power IPO began on October 22, 2024, and closed on October 24, 2024.

Danish Power Limited was established in July 1985 and produces a range of transformers, including inverter duty transformers for use in wind farms and solar power plants, among other renewable energy projects. In addition, they manufacture control relay panels, substation automation services, and power and distribution transformers of the dry and oil types.

The company's product line can be divided into the following categories:

Wind turbine generator transformers and multi-winding inverter duty transformers up to 20 MVA 33 kV class for solar plants

Power Transformers up to 63 MVA 132 kV Class Transformer Distribution up to 5 MVA 33 kV Class

Bus Bar Protection Panels, LT Panels, APFC Panels, Substation Automation (SCADA), and Control Relay Panels up to 400 kV Class are all included in the panel range.

The Danish Power IPO's book running lead manager is Hem Securities Limited, and the issue's registrar is Link Intime India Private Ltd. Hem Finlease is the market maker for the Danish Power IPO.

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