Divine Power Energy Ltd (DPEL), a manufacturer of insulated wires and strips, has launched ₹22.76 crore IPO Emerge on NSE at a price band of ₹36-40. The initial public offering will open on June 25 and conclude on June 27. The New Delhi-headquartered company’s IPO comprises a fresh issue of 56,88,000 shares
DPEL proposes to utilise ₹18 crore of the net IPO proceeds to meet its working capital requirements and plans to use the remaining capital for general corporate purposes. The company manufactures insulated and bare wires as well as strips with copper and aluminium; operates a cutting-edge manufacturing facility at Ghaziabad.
Khambatta Securities Ltd is the Book Running Lead Manager, and Bigshare Services Pvt Ltd is the Registrar to the offer.
DPEL supplies its products to reputed clients such as Tata Power, BSES, Uttar Pradesh Power Corporation Ltd and Uttarakhand Power Corporation Ltd.