Chamunda Electricals IPO Day 1: Subscription Status, Price Band, GMP And Other Key Details
Chamunda Electricals IPO GMP (grey market premium) was Rs 11 as of 2:28 p.m. on Tuesday, showing a potential listing gain of 22% over the upper end of the price band of Rs 50.
The initial public offering of Chamunda Electricals Ltd. opened for subscription on Tuesday. The NSE SME IPO aims to raise Rs 14.6 crore from the primary market. The company, established in 2013, offers operation and maintenance services for electric substations.
Interested investors must check these details before bidding for the issue:
Chamunda Electricals IPO: Key Details
Chamunda Electricals IPO will remain open for subscription between Feb. 4 and Feb. 6. The company aims to raise funds worth Rs 14.6 crore via a fresh issue of 29.19 shares.
Share allotment for the issue will be done on Friday, Feb. 7. The shares will be credited to the Demat accounts of successful bidders on Monday, Feb. 10. Refunds for non-allottees will also be initiated on the same day.
Chamunda Electricals shares are expected to be listed on the NSE SME platform Emerge on Tuesday, Feb. 11.
The Chamunda Electricals IPO price band has been set at Rs 47 to Rs 50 per share. Retail investors have to buy 3,000 shares in one lot, implying that the minimum investment amount will be Rs 1,50,000 on the upper end of the price band.
The company has reserved 50% of the net offer size for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
KFin Technologies Ltd. has been selected as the registrar for the Chamunda Electricals IPO whereas GYR Capital Advisors Pvt. is its lone book-running lead manager. Wiinance Financial Services Pvt. is the market maker for Chamunda Electricals IPO.
Chamunda Electricals IPO Subscription Status: Day 1
The IPO has been subscribed 11.7 times as of 3:04 p.m. on Tuesday, as per the market tracking site Chittorgarh:
Qualified Institutions: 6.02 times
Non-Institutional Buyers: 5.15 times
Retail Investors: 17.75 times
*The subscription status will be updated soon
Chamunda Electricals IPO GMP Today
Chamunda Electricals IPO GMP (grey market premium) was Rs 11 as of 2:28 p.m. on Tuesday, showing a potential listing gain of 22% over the upper end of the price band of Rs 50.
According to InvestorGain, shares of Chamunda Electrical Ltd. are likely to make their debut at a listing price of Rs 61 per share on the NSE if the current GMP trends are sustained.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Chamunda Electricals: Business And Financials
Chamunda Electricals Ltd. operates and maintains up to 66 KV electrical substations. The company further specialises in testing and commissioning up to 220 KV substations, as well as 1.5 MW solar power generation.
Use Of Proceeds
Chamunda Electricals will use the proceeds from the IPO for capital expenditure on new testing kits and equipment, funding working capital needs and repaying certain loans. The rest of the funds will go towards general corporate purposes and issue expenses.
Financials
As of the period ended Dec. 31, 2024, Chamunda Electricals’ revenue was clocked at Rs 18.43 crore, while the net profit stood at Rs 2.81 crore. In FY24, Chamunda Electricals Ltd. reported a revenue of Rs 20.07 crore, marking a 43% year-on-year rise from Rs 14.01 crore in the year-ago period. Net profit stood at Rs 2.44 crore in FY24, up multi-fold from Rs 31 lakh in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
