Schedule of Danish Power
| Issue open date | 22 Oct 2024 |
| Issue close date | 24 Oct 2024 |
| UPI mandate deadline | 24 Oct 2024 (5 PM) |
| Allotment finalization | 25 Oct 2024 |
| Refund initiation | 28 Oct 2024 |
| Share credit | 28 Oct 2024 |
| Listing date | 29 Oct 2024 |
| Mandate end date | 08 Nov 2024 |
| Lock-in end date for anchor investors (50%) | 24 Nov 2024 |
| Lock-in end date for anchor investors (remaining) | 23 Jan 2025 |
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 Danish Power
Established in 1985, Danish Power specializes in the manufacturing of a wide range of transformers, including inverter duty transformers for renewable energy projects like solar power plants and wind farms, as well as oil and dry-type power and distribution transformers. The company also offers control relay panels and substation automation services. These products and services are utilized across various sectors to ensure the efficient transmission and distribution of electrical power, supporting projects such as solar and wind power installations, power generation plants, electricity substations, and power utilities. Danish Power’s esteemed clientele includes Tata Power Solar System Ltd, Waaree Renewable Technologies Limited, Jakson Green Private Limited, ABB India Limited, and Torrent Power Limited.
Financials of Danish Power
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹197.90 crores |
| Fresh Issue | ₹197.90 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 37 (18.70%) |
| Working capital requirements | 85 (42.95%) |
| Debt reduction | 20 (10.11%) |
| General corporate purposes | 49.48 (25%) |
| Other expenses | 6.42 (3.24%) |
Strengths
- The company has a diversified product base which enables it to serve clients from various industries.
- The company’s manufacturing units are well-equipped with the required machinery, equipment, and infrastructure to carry out the requisite manufacturing activities in compliance with the manufacturing standards.
- The company is accredited with various quality management-related ISOs. Its focus on quality has made them retain existing customers and attract new customers.
Risks
- Nearly 87% of the company’s revenues are dependent on the top 10 clients. The loss of any one or more of the major customers would have a material adverse effect on the business.
- The company’s operations require a significant amount of working capital for continuing growth. Any inability to meet its working capital requirements may adversely affect the results of operations.
- It may not be able to realize the amounts, partly or at all, reflected in the order book which may materially and adversely affect the business, prospects, reputation, and profitability.
- Underutilization of its manufacturing capacities and an inability to effectively utilize the existing manufacturing capacities could adversely affect the business.