Divine Power Energy IPO Closed
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Schedule of Divine Power Energy
| Issue open date | 25 Jun 2024 |
| Issue close date | 27 Jun 2024 |
| UPI mandate deadline | 27 Jun 2024 (5 PM) |
| Allotment finalization | 28 Jun 2024 |
| Refund initiation | 01 Jul 2024 |
| Share credit | 01 Jul 2024 |
| Listing date | 02 Jul 2024 |
| Mandate end date | 12 Jul 2024 |
| Lock-in end date for anchor investors (50%) | 28 Jul 2024 |
| Lock-in end date for anchor investors (remaining) | 26 Sep 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Divine Power Energy
Divine Power Energy Limited’s IPO is launching on June 25, 2024, with subscriptions closing on June 27, 2024. Originally incorporated as ‘PDRV Enterprises Private Limited’ on August 24, 2001, the company underwent name changes to become ‘Divine Power Energy Limited’ after converting from a private to a public limited company in 2023. They specialize in manufacturing and supplying various types of winding wires and strips essential for transformers, critical components in power distribution. Their products include innovations like fiberglass-covered wires, and they cater to national markets and support infrastructure upgrades aimed at reducing power losses and enhancing operational efficiency.
Financials of Divine Power Energy
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹22.76 crores |
| Fresh Issue | ₹22.76 crores |
| Offer for sale | – |
*All figures except EPS are in ₹ Crores
Risks
- Vulnerability To Raw Material Price Fluctuations: Production costs are highly sensitive to changes in copper rod, aluminium rod, paper, cotton, and fibreglass prices. They procure these materials primarily from the spot market, lacking long-term supply agreements, thus exposing them to significant financial risks from unpredictable price variations.
- Impact of Copper and Aluminium Prices on Company Profit Margins: The company’s primary raw materials, Copper and Aluminium rods, crucial for manufacturing winding wires and strips, are highly influenced by their cyclical pricing nature tied to global demand and economic factors like geopolitics. This cyclicality significantly impacts our raw material costs, thereby affecting our profit margins.
- Dependency on Third-Party Transportation Providers: The company manufactures copper and aluminium wires in Sahibabad, Uttar Pradesh, relying on third-party transportation for raw materials and finished goods across India. Potential transportation strikes or cost increases could significantly impact operations.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by July 01, 2024, on the Registrar’s website and the NSE website.