Danish Power Limited’s SME IPO witnessed robust demand on its first day of subscription, with bids reaching 11.85 times the shares on offer as of 1.50 PM today. The company received bids for 4.43 crore shares against the 37.44 lakh shares available.
Retail investors led the subscription drive with 91,528 applications for 2.74 crore shares, of which bids for 1.82 crore shares were at cut-off price. Non-institutional investors followed with 5,651 applications for 1.07 crore shares, with individual investors in this category bidding for 1.04 crore shares.
Qualified institutional buyers (QIBs) submitted seven applications for 67.38 lakh shares, all under the ‘Others’ subcategory. The employee portion received modest participation with 21 applications for 12,000 shares.
The IPO, which opened on October 22, will close on October 24, 2024. No bids were recorded from foreign institutional investors, domestic financial institutions, or mutual funds during this period.