Danish Power's IPO has achieved a remarkable 117.9 times subscription, making it the largest-ever SME IPO, with investors purchasing 44.14 crore equity shares against an offer of 37.44 lakh shares. The Jaipur-based transformer manufacturer opened its share sale on October 22, aiming to raise Rs 197.9 crore at a price band of Rs 360-380 per share. Notably, the company secured Rs 55.63 crore from 19 anchor investors prior to the IPO launch.
Danish Power's IPO has seen a remarkable response, with its grey market premium (GMP) reaching Rs 265 on the second day of subscription, indicating potential listing gains of nearly 70%. The company plans to utilize Rs 37 crore from the net proceeds to construct a factory shed and enhance its machinery. With a total issue size of Rs 197.90 crore, this IPO marks the largest in the SME segment to date.
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