New Delhi-based Divine Power Energy Ltd launches a Rs 22.76 crore IPO on NSE Emerge at Rs 36-40.

Divine Power Energy Ltd, a New Delhi-based manufacturer of insulated wires and strips, has launched a Rs 22.76 crore IPO on NSE Emerge at a price band of Rs 36-40. The IPO opens on June 25 and closes on June 27, with a fresh issue of 56,88,000 shares. DPEL plans to utilize ₹18 crore of the net IPO proceeds for working capital requirements and general corporate purposes.