Danish Power IPO Allotment Today; Steps To Check Status Online And GMP Details

The initial public offering of Danish Power Ltd. received a massive response from investors as the SME IPO was subscribed 126.65 times on the third and final day of bidding on Thursday. Notably, the Rs 197.90-crore IPO is the largest ever in the SME segment.

Danish Power IPO received bids for 44,11,45,800 shares against 34,83,300 shares for offer, as per the market tracking site Chittorgarh.

The category for non-institutional investors (NIIs) received 275.92 times subscription while the part for qualified institutional buyers was subscribed 104.79 times. Also, the retail individual investors portion got 79.88 times subscription.

Danish Power IPO was subscribed 21.34 times on day two of the subscription on Oct. 23. It was subscribed 4.19 times on Oct. 22, the first day of subscription.

The IPO comprised an entirely fresh issue of 52.08 lakh shares worth Rs 197.90 crore. The Danish Power IPO price band was set at Rs 360-380 per share. Retail investors were required to buy at least 300 shares in a single lot, totalling a minimum investment of Rs 1.14 lakh per application.

The allotment of shares in the Danish Power IPO will take place on Oct. 25. The shares will be credited to the demat accounts of successful bidders on Oct. 28. Shares of Danish Power are likely to list on Oct. 29 on the NSE SME platform, Emerge.

Investors can check the Danish Power IPO allotment status through Link Intime India Pvt. Ltd.– the registrar for the issue.

• Visit the official website of Link Intime India here

• Select 'Danish Power Limited' from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.

• Enter the required information as per your selection above.

• Click the 'Submit' button to check your allotment status.

The grey market premium (GMP) on the Danish Power IPO was Rs 300 as of 9:30 a.m. on Oct. 25, indicating a listing at a premium of 78.95% over the issue price. As per InvestorGain, shares of Danish Power Ltd. are expected to list at Rs 680 apiece.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

• IPO Open Date: Tuesday, October 22

• IPO Close Date: Thursday, October 24

• Basis of Allotment: Friday, October 25

• Initiation of Refunds: Monday, October 28

• Credit of Shares to Demat: Monday, October 28

• Listing Date: Tuesday, October 29

Danish Power Limited, founded in July 1985, manufactures transformers and provides substation automation services. Their products include inverter duty transformers for solar and wind projects, as well as power and distribution transformers, control relay panels, and SCADA systems.

They operate two factories in Jaipur, certified for quality, environment, and safety standards. Key clients include Tata Power Solar, Waaree, and ABB India. With a strong product range, advanced facilities, and experienced management, the company serves industries like renewable energy, power transmission, and utilities.

As of March 31, 2024, they had 343 employees, plus additional contract staff.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.