Danish Power Makes Strong Market Debut With 50% Premium On NSE SME
Date
10/29/2024 2:09:15 PM
(MENAFN- KNN India)
New Delhi, Oct 29 (KNN)
Danish Power, the Rajasthan-based company, marked a significant milestone today as its shares debuted on the National Stock Exchange's SME platform at Rs 570, recording a premium of 50 percent over its issue price of Rs 380 per share.
The initial public offering (IPO), which opened for subscription on October 22, garnered substantial investor interest with an oversubscription of 126.65 times.
The company successfully raised Rs 197.90 crore through this offering, establishing itself as the largest issue in the SME segment to date, surpassing KP Green Engineering's Rs 189.5-crore issue from March and Sahasra Electronics Solutions' Rs 186.2-crore IPO launched in September.
During the subscription period, the company had set a price band of Rs 360-380 per share, with a minimum lot size of 300 shares. This structure positioned the investment range between Rs 108,000 and Rs 114,000 for potential investors.
This successful listing underscores the growing investor confidence in the SME sector and marks another milestone in the evolution of India's small and medium enterprise marketplace.
(KNN Bureau)
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