On the last day of bidding for the Divine Power IPO, the total subscription reached 393.67 times led by retail investors subscribing 507.94 times. Non-institutional buyers subscribed the issue 473.74 times and qualified institutions subscribed 135.84 times, as per chittogarh.com.
The SME IPO valued at Rs 22.76 crore, involved the fresh issue of 56.9 lakh shares. Bidding for the IPO began on June 25, and ended on June 27. The price band for the IPO was set between Rs 36 to Rs 40 per share, with a minimum application size of 3000 shares, requiring at least Rs 1,20,000 for retail investors.
The allotment for Divine Power Energy IPO is likely to be finalised on Friday, June 28.
Investors can check Divine Power Energy's IPO allotment status on Bigshare Services Pvt Ltd, the registrar for the issue.
Give below are the steps to check allotment status.
How to check Divine Power Energy IPO allotment status on Bigshare Services
Visit the official website of Bigshare Services here: https://www.bigshareonline.com/ipo_Allotment.html
Select any one server to check your IPO Allotment Status.
Choose "Divine Power Energy Limited" from the list of companies.
In the Selection Type dropdown, choose Application number, Beneficiary ID, or PAN ID.
Enter the required information, that could be your application number, PAN (Permanent Account Number), or Beneficiary ID.
Complete the 'captcha' to verify that you are not a robot.
Finally, click the "Search" button to check your allotment status.
Divine Power Energy IPO Listing Date
Shares of Divine Power Energy Limited are set to be listed on NSE's Emerge Platform on Tuesday, July 2.
Divine Power Energy IPO Timeline (Tentative Schedule)
IPO Open Date: Tuesday, June 25
IPO Close Date: Thursday, June 27
Basis of Allotment: Friday, June 28
Initiation of Refunds: Monday, July 1
Credit of Shares to Demat: Monday, July 1
Listing Date: Tuesday, July 2
About Divine Power Energy Limited
Divine Power Energy Limited, founded in 2001, makes various types of copper and aluminium wires and strips. These include bare and insulated winding wires/strips, often covered with fibreglass, paper, or cotton. The company sells fiberglass-covered products in places like Punjab, Bengaluru, and Ahmedabad. They mainly supply power distribution companies and transformer manufacturers, including big names like TATA Power and various regional power companies. Their factory in Sahibabad, Ghaziabad, spans 1,777 square meters and can process 300 metric tonnes of aluminum and 400 metric tonnes of copper each month. With an ISO 9001:2015 certification, the company employs 40 people as of June 2024.
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