CLN Energy Ltd. launched its initial public offering to raise Rs 72.3 crore from the primary market on Thursday. The company is engaged in the manufacturing of customised lithium-ion batteries and other components for electric vehicles. 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: Key Details
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.
The company has reserved 50% of the net issue for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
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.
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.
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.
CLN Energy IPO Subscription Status: Day 1
The IPO has been subscribed 1.67 times as of 2:39 p.m. on Thursday, as per Chittorgarh.
QIB: 1 times
Non-institutional investors: 2.17 times
Retail investors: 1.85 times
*The subscription status will be updated at regular intervals
CLN Energy IPO GMP
The grey market premium on CLN Energy IPO is Rs 0 on the opening day of the issue. 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.
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.
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.
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