• corporate

Ghaziabad-based Divine Power Energy Limited aims to surpass Rs. 400 crore revenue by 2026; plans to float IPO soon 

• nationalherald
• January 3, 2024

by Prashant Kapadia/NHN

• Company manufactures insulated and bare wires as well as strips with copper and aluminum

• Targets to double the revenue to Rs. 300 crore by 2025 from Rs. 150 crore in FY23

• Set to tap capital markets to fund capacity expansion and broaden its product portfolio

• Appoints Khambatta Securities as the Book Running Lead Manager 

Ghaziabad, January 2, 2024: Divine Power Energy Limited (The company or DPEL), a leading manufacturer of insulated wires and strips, aims to achieve Rs. 400 crore in revenue by March 2026. The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO). It has appointed Khambatta Securities as the Book Running Lead Manager for the issue.

DPEL manufactures insulated and bare wires as well as strips with copper and aluminum for its customers in India. Its product line includes Paper Covered Conductors, Fiber-Glass Insulation, Double Cotton Covered and Super-Enameled Insulation, widely used in transformers, motors and other electrical devices.

Elaborating on the company’s expansion plans, Mr. Rajesh Giri, Managing Director, Divine Power Energy Limited, said, “We aspire to be a market leader in the manufacturing of insulated copper and aluminum wires and strips, setting benchmarks for quality and sustainability. We are planning to raise funds from the capital markets to unlock our full potential by expanding our manufacturing capacity, broadening our product portfolio and exploring new geographies. Embarking on this ambitious journey, we are confident of doubling our revenue by 2025 to Rs. 300 crore and surpassing the Rs. 400 crore mark by March 2026.”

The company has been manufacturing and supplying superior quality products, consistently meeting customer demand and rigorous industry standards at competitive prices for the last two decades. DPEL operates a manufacturing unit spread across 40,000 Sq Ft in Ghaziabad.

DPEL supplies its products to both public and private companies, including Tata Power, BSES, Uttarakhand Power Corporation Limited, Jharkhand Bijli Vitran Nigam Limited, Pashchimanchal Vidyut Vitran Nigam Limited, South Bihar Power Distribution Company Limited, Purvanchal Vidyut Vitran Nigam Limited, Dakshinanchal Vidyut Vitran Nigam Limited and many others. The company gets its raw materials from market leaders like NALCO, Aditya Birla’s Hindalco and Balco.