Insulated wires and strips maker Divine Power Energy on Tuesday announced its plan to go public this year and raise funds from capital market to expand capacity as the company aims to increase turnover to Rs 400 crore by 2026. The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO), which is likely to take place in mid-February or early March of this year, Divine Power Energy Ltd ((DPEL) said in a statement.
According to the statement, DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23.
