Divine Power Energy IPO price band fixed at ₹36-40: check issue size, key dates and other details
₹36-40. The Issue opens for subscription on Tuesday 25 June 2024 The Small and Medium Enterprises (SME) IPO that opens on 25 June'2024, will be available for subscription for investors till 27 June 2024. Opening day for Anchor Book is Monday, June 24.' 2024.On Friday, June 28, 2024, the allotment for the Divine Power IPO is anticipated to be completed.
The NSE SME will host the Divine Power IPO, with a provisional listing date of Tuesday, July 2, 2024.Also Read- Petro Carbon and Chemicals IPO to open on June 25; price band fixed at ₹162-171 apieceSince the issue has a set price range of Rs. 36 to Rs. 40 per share, with a lot size of 3,000 equity shares, the retail investors need to invest ₹120,000.
HNI investments require a minimum lot size of two lots, or 6,000 shares, totaling ₹240,000.Not less than 35% of the Net Issue is reserved for retail investors. i.e at least 18,90,000 Equity Shares are being offered to retail investors from a total of ) 56,88,000 Equity Shares.The Divine Power Energy Limited’s IPO consists of a new offering of Equity Shares with a face value of Rs. 10 per share, up to a total of Rs.
22.76 crore.Also Read- Sylvan Plyboard IPO price band set at ₹55 per share; issue to open on June 24Of the net IPO proceeds, Divine Power Energy Ltd says it would use Rs. 18 crore to cover its working capital needs and intends to use the remaining funds for general corporate reasons. Discoms and transformer makers purchase copper and aluminum wires and strips that are insulated with paper, crepe paper, and fiberglass from Divine Power Energy Ltd.Super enameled wires and strips, which are frequently used in transformer installation and repair, are also traded by the company.
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