CLN Energy IPO Day 2: Check GMP, Subscription Status, Offer Size, Price Band And More
The latest grey market premium on CLN Energy IPO is Rs 0 indicating a flat listing for the shares of CLN Energy Ltd.
CLN Energy Ltd. that launched its initial public offering to raise Rs 72.3 crore from the primary market on Thursday was fully subscribed on Day 1. The company is engaged in the manufacturing of customised lithium-ion batteries and other components for electric vehicles.
The SME issue was booked 1.79 times on Thursday with Non-Institutional Buyers subscribing 2.43 times the shares offered whereas Retail Investors subscribed the issue 1.96 times the shares offered.
Those interested in this BSE SME issue can opt for a subscription till Jan. 27. Here's everything you need to know about CLN Energy IPO.
CLN Energy IPO: All You Need To Know
CLN Energy IPO is an entirely fresh issuance of 28.92 lakh shares offered at a price band of Rs 235 to Rs 250 apiece. The BSE SME issue is valued at Rs 72.3 crore at the upper price band.
Retail investors can bid in the CLN Energy IPO with a minimum lot size of 600 shares amounting to an investment of Rs 1.5 lakh.
As per the company's RHP document, of the 28,92,000 shares offered:
5,47,200 (18.92%) is reserved for Qualified Institutions
4,10,400 (14.19%) for Non-institutional investors
9,57,600 (33.11%) for Retail investors
8,20,800 (28.38%) for Anchor investors
The company has appointed Aryaman Financial Services Ltd. as the sole book-running leader manager for its issue whereas Bigshare Service Pvt. is its registrar.
Allotment of shares in the offer is expected to be done on Jan. 28. Credit of shares into the demat account of successful bidders is proposed to be done on Jan. 29 along with initiation of refunds for the non-allottees.
Shares of CLN Energy Ltd. are scheduled to be listed on the BSE SME platform on Jan. 30.
CLN Energy IPO Subscription Status: Day 2
The IPO has been subscribed 2.38 times as of 1:59 p.m. on Friday, as per Chittorgarh.
Qualified institutions: 1 times
Non-institutional investors: 2.33 times
Retail investors: 3.19 times
*The subscription status will be updated at regular intervals
CLN Energy IPO GMP
The latest grey market premium on CLN Energy IPO is Rs 0 as the bidding on Day 2 continues. According to InvestorGain, the current GMP trends indicate a flat listing for the shares of CLN Energy Ltd.
CLN Energy IPO: Business And Financials
CLN Energy Ltd. is a manufacturer of customised lithium-ion batteries, motors and other EV components. It sells its product under the brand CLN Energy.
The company, incorporated in 2019, offers B2B solutions for electric vehicles and stationary applications like solar, energy storage systems (ESS), and telecommunications.
Financials
CLN Energy Ltd. posted a revenue of Rs 75.84 crore in the first half of FY25 with a net profit of Rs 4.64 crore. In FY24, the company's revenue increased 3% year-on-year to Rs 132.86 crore from Rs 128.88 crore in FY23. Net profit during the period jumped to Rs 9.79 crore from Rs 73 lakh in FY23.
Use Of Proceeds
CLN Energy Ltd. has proposed to use the net proceeds from the IPO to purchase machinery and equipment, fund working capital requirements and general corporate purposes.
