Danish Power IPO allotment: Latest GMP, steps to check status online for largest SME issue of 2024 | Stock Market News
Source: Live Mint
Danish Power IPO allotment: As the bidding for Danish Power’s initial public offer (IPO) closed, the focus has now shifted to the share allotment. Danish Power IPO allotment status is expected to be finalised on Friday, October 25.
The IPO worth ₹ ₹197.90 crore is the largest SME issue of 2024 as of yet. The company’s IPO which ran between October 22-24 was priced in the range of ₹360-380 per share. The IPO was a fresh issue of 52.08 lakh shares with no offer-for-sale component.
Danish Power IPO’s subscription status at the end of the three-day bidding process stood at 126.65 times, reflecting strong investor demand. Non-institutional investor (NII) category was subscribed the most at 275.92 times, followed by the qualified institutional buyers (QIB) category at 104.79 times. The retail portion was booked 79.88 times.
The heavy demand suggests proportional allotment of shares to retail investors. Those investors who have received allotment can expect credit of shares to their Demat accounts on Monday, October 28. Those who have not received the allotment can expect a refund on the same day. Danish Power IPO listing is expected to take place on Tuesday, October 29.
Step-by-step guide on how to check allotment status
Investors can check the allotment status for Danish Power IPO either on NSE or by logging on to the website of the registrar to the issue – Link Intime India Private Ltd.
Danish Power IPO GMP
The grey market premium or GMP for Danish Power IPO signals a strong listing for the SME issue. The company has seen a steady increase in its GMP. Currently, it is commanding a premium of ₹300 apiece in the grey market over the IPO price of ₹380, suggests data from InvestorGain. This means that Danish Power shares could list at ₹680, a premium of 78.95 per cent, potentially offering solid gains to investors.
