Divine Power Energy
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Jun 2024 – 27 Jun 2024
- Listing date
- 02 Jul 2024
- Face value
- ₹10 per share
- Issue price
- ₹40 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹22.75 Cr
- Market cap at offer price
- ₹85.88 Cr
- Promoter holding
- 100.00% → 73.50% pre-issue → post-issue
- ISIN
- INE0SCO01019
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Khambatta Securities Ltd.
- Registered office
- Unit No.Offices, 1st Floor, CSC-II, B-Block, Surajmal Vihar, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 16,20,000 | — | — |
| Market maker | 2,88,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹40
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.06 | 2.98 |
| P/E (×) | 9.85 | 13.42 |
| Price to book (×) | 2.47 | — |
| Market cap | — | ₹85.88 Cr |
Key performance indicators
- Return on net worth
- 25.06%
- ROCE
- 16.25%
- Debt / equity
- 2.26
- PAT margin
- 2.88%
- NAV per share
- ₹16.20
- Price to book
- 2.47
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Divine Power Energy
Divine Power Energy Limited (DPEL), incorporated on August 24, 2001 in Delhi as 'PDRV Enterprises Private Limited', was renamed 'Dee Power and Electricals Private Limited' (May 2023), then 'Divine Power Energy Private Limited' (July 2023), and became Divine Power Energy Limited upon conversion to a public company in August 2023. It is a manufacturer of Bare Copper/Aluminium Wire, Bare Copper/Aluminium Strip, Winding Copper/Aluminium Wire and Winding Copper/Aluminium Strip, with over twenty years of experience in winding wires. Winding wires/strips are made by annealing and insulating wires/strips and covering them with paper, crepe paper, cotton or fiberglass; these are sold mainly to power distribution companies and transformer manufacturers for making transformer coils and fixing normal wear and tear. In the current calendar year the company began manufacturing fiberglass-covered wires/strips used in electromagnetic coils for lifting magnets, and in the recent past it began trading in super enamelled wires and strips. It operates one owned plant at Plot No. 56/1 & 56/2, Site-IV Industrial Area, Sahibabad, Ghaziabad, Uttar Pradesh, with installed monthly capacity of 400 metric tonnes of copper and 300 metric tonnes of aluminium (combined annual installed capacity of 8,400 metric tonnes), sourcing rods mainly from Hindalco, NALCO and Birla Copper, and counting clients such as TATA Power, BSES, Pashchimanchal Vidyut Vitran Nigam, Madhyanchal/Dakshinanchal/Purvanchal Vidyut Vitaran Nigam and Uttarakhand Power Corporation. Revenue is earned largely through government tenders and private purchase orders (with some job-work income), delivering FY2023 revenue from operations of Rs. 15,058.53 Lakhs and profit after tax of Rs. 285.08 Lakhs (six months ended September 30, 2023: Rs. 10,262.91 Lakhs and Rs. 219.42 Lakhs respectively). The IPO is an entirely fresh issue of up to Rs. 2,250.00 Lakhs for listing on NSE Emerge, primarily to fund working capital (up to Rs. 1,700.00 Lakhs) and general corporate purposes.
Company Analysis
from DRHPDivine Power Energy Limited manufactures bare and insulated (paper-, cotton- and fiberglass-covered) copper and aluminium wires and winding wires/strips used in transformers and electromagnetic coils for India's power distribution and electrical equipment sectors, and also trades in super enamelled wires and strips.
Divine Power Energy Limited (DPEL), incorporated on August 24, 2001 in Delhi as 'PDRV Enterprises Private Limited', was renamed 'Dee Power and Electricals Private Limited' (May 2023), then 'Divine Power Energy Private Limited' (July 2023), and became Divine Power Energy Limited upon conversion to a public company in August 2023. It is a manufacturer of Bare Copper/Aluminium Wire, Bare Copper/Aluminium Strip, Winding Copper/Aluminium Wire and Winding Copper/Aluminium Strip, with over twenty years of experience in winding wires. Winding wires/strips are made by annealing and insulating wires/strips and covering them with paper, crepe paper, cotton or fiberglass; these are sold mainly to power distribution companies and transformer manufacturers for making transformer coils and fixing normal wear and tear. In the current calendar year the company began manufacturing fiberglass-covered wires/strips used in electromagnetic coils for lifting magnets, and in the recent past it began trading in super enamelled wires and strips. It operates one owned plant at Plot No. 56/1 & 56/2, Site-IV Industrial Area, Sahibabad, Ghaziabad, Uttar Pradesh, with installed monthly capacity of 400 metric tonnes of copper and 300 metric tonnes of aluminium (combined annual installed capacity of 8,400 metric tonnes), sourcing rods mainly from Hindalco, NALCO and Birla Copper, and counting clients such as TATA Power, BSES, Pashchimanchal Vidyut Vitran Nigam, Madhyanchal/Dakshinanchal/Purvanchal Vidyut Vitaran Nigam and Uttarakhand Power Corporation. Revenue is earned largely through government tenders and private purchase orders (with some job-work income), delivering FY2023 revenue from operations of Rs. 15,058.53 Lakhs and profit after tax of Rs. 285.08 Lakhs (six months ended September 30, 2023: Rs. 10,262.91 Lakhs and Rs. 219.42 Lakhs respectively). The IPO is an entirely fresh issue of up to Rs. 2,250.00 Lakhs for listing on NSE Emerge, primarily to fund working capital (up to Rs. 1,700.00 Lakhs) and general corporate purposes.
Objects of the Issue
- To meet the working capital requirements of the Company (deployment of Rs. 1,000.00 lakhs in Fiscal 2024 and Rs. 700.00 lakhs in Fiscal 2025) Upto Rs. 1,700.00 Lakhs p.78
- General Corporate Purpose (including capital expenditure if any, brand building and marketing activities, and ongoing general corporate exigencies) p.77
Issue Structure
- Total Issue
- Upto Rs. 2,250.00 Lakhs
- Fresh Issue
- Up to [●] Equity Shares of face value of Rs.10/- each fully paid for cash at a price of Rs. [●] per Equity Share aggregating Rs. 2,250.00 Lakhs
- Offer for Sale
- N.A.
- Face Value
- Rs. 10.00 each
Business Model
The company earns revenue primarily by manufacturing and selling bare and insulated copper/aluminium winding wires and strips to power distribution companies and transformer manufacturers, with the majority of business won through participation in government tenders supplemented by private purchase orders, and more recently by trading in super enamelled wires/strips and earning job-work income.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Rajesh Giri | Promoter (Managing Director) | 48.65% | — |
| Mr. Vikas Talwar | Promoter (Director) | 20.31% | — |
| Ms. Dali Giri | Promoter (Non-Executive Non-Independent Director) | 17.04% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.