2 days ago
3
Divine Power Energy stock terms made a bumper debut connected NSE SME today. Divine Power Energy stock terms opened astatine ₹155, which is 287.5% higher than the contented terms of ₹40. However, the banal slipped into reddish station beardown listing.
Subscriptions for Divine Power Energy Ltd.'s IPO opened connected Tuesday, June 25, and concluded connected Thursday, June 27. 3,000 shares made up the batch size for the Divine Power IPO. With a look worth of Rs. 10, the Divine Power IPO terms set was acceptable betwixt Rs. 36 and Rs. 40 per equity share. Divine Power IPO subscription presumption was 393.67 times, connected time 3.
Divine Power Energy Limited produces winding copper/aluminum wire, bare copper/aluminum wire, and winding copper/aluminum strip. The steps progressive successful making winding wires oregon strips see annealing, insulating, and coating them with materials similar paper, cotton, fiberglass, etc. Winding wires/strips coated successful paper, crepe paper, and fabric are purchased by transformer manufacturers and powerfulness organisation utilities to repair communal deterioration and teardrop and conception caller transformers.
The company's listed peers see Shera Energy Ltd (P/E of 34.17), Bhagyanagar India Ltd (P/E of 7.63), Rajnandini Metal Ltd (P/E of 19.49), Ram Ratna Wires Ltd (P/E of 32.83), and Precision Wires India Ltd (P/E of 33.60), according to the reddish herring prospectus (RHP).
Divine Power Energy's nett aft taxation (PAT) grew by 124.82% and gross accrued by 47.65% betwixt March 31, 2024, and March 31, 2023.
Divine Power IPO details
The Divine Power IPO, worthy ₹22.76 crore, consists of a caller issuance of 5,690,000 equity shares astatine look worth of ₹10. There is nary offer-for-sale component.
The corp intends to usage the proceeds of the offering for moving superior requirements arsenic good arsenic wide firm purposes.
Bigshare Services Pvt Ltd is the registrar for the Divine Power IPO, portion Khambatta Securities Limited is the publication moving pb manager. The marketplace shaper for the Divine Power IPO is Nikunj Stock Brokers.
Divine Power IPO GMP today
Divine Power IPO GMP contiguous is +61. This indicates Divine Power stock terms were trading astatine a premium of ₹61 successful the grey market, according to investorgain.com.
The Divine Power IPO estimated listing terms was suggested astatine ₹101 apiece, which is 152.5% much than the IPO terms of ₹40, taking into relationship the precocious extremity of the IPO pricing set and the contiguous premium connected the grey market.
'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.
Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.
Catch each the
Events and
Updates connected Live Mint. Download The
to get Daily Market Updates.
MoreLess
English (US)