Danish Power announces IPO dates, price band in largest SME offering this year
Danish Power, which is the largest in the SME segment this year, will open for subscription on October 22. Investors can bid for the offer till October 24.
The company plans to raise nearly Rs 198 crore through the IPO, which is completely a fresh equity sale of 52.08 lakh shares. The IPO is priced in the range of 360-380 per share.
Part of the proceeds from the IPO will be used for funding capital expenditure towards the expansion of the manufacturing facility by building of factory shed and installation of additional plant. The remaining funds will be utilised for working capital requirements, repayment of debt and other general corporate purposes.
Danish Power is engaged in the business of manufacturing of different types of transformers including inverter duty transformers used in renewable power projects like solar power plant or wind farms, oil and dry type power and distribution transformers, control relay panel along with substation automation services.
These transformers and panels are used across various sectors and industries to facilitate the efficient transmission and distribution of electrical power such as renewable power EPC projects like solar power plant, wind power farms, other power generation plants, power transmission, electricity sub-stations, power utilities, etc.
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