Final Day — Chamunda Electricals IPO: GMP, Subscription Status, Allotment Date And More
The latest grey market premium (GMP) for Chamunda Electricals IPO is Rs 22, indicating an expected gain of 44% over the upper price band.
Chamunda Electricals IPO Day 3: The initial public offering of Chamunda Electricals that opened for bidding on Feb. 4 will close for subscription on Thursday, Feb. 6. The SME IPO has so far received a tremendous response from the investors. The issue has been booked over 46 times at the end of Day 2. The demand for the IPO was led by retail investors who bid for 6,75,00,000 shares against the 9,66,000 offered.
Non-institutional investors placed bids for 1,68,21,000 shares against the 4,14,000 shares offered. This was followed by Qualified institutions who bid for 47,34,000 shares against the 5,52,000 shares offered.
As bidding for the Chamunda Electricals IPO enters its final day, here's all you need to know about the issue including its GMP, latest subscription status, price band, allotment date, listing date and more.
Chamunda Electricals IPO Day 3 Subscription Status
The IPO of Chamunda Electricals has been subscribed 293.93 times as of 1:49 p.m. on Thursday.
Qualified Institutions: 91.92 times
Non-Institutional Buyers: 615.59 times
Retail Investors: 271.52 times
Subscription status will be updated at regular intervals.
Chamunda Electricals IPO Latest GMP
The latest grey market premium (GMP) for Chamunda Electricals IPO is Rs 22, recorded at 1:13 p.m. on Feb. 6. Considering today's GMP and issue price, shares of Chamunda Electricals are expected to list on NSE at Rs 72, up 44% over IPO price - as per InvestorGain.com.
The unlisted shares of Chamunda Electricals were trading at Rs 11 when the issue opened for subscription before climbing to Rs 13 at the end of day 1. Going by the GMP trends, investors can look forward to a strong listing when the shares hit the market next week.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Chamunda Electricals IPO Day 2 Subscription Status
The IPO of Chamunda Electricals was subscribed 46.09 times on Wednesday.
Qualified Institutions: 8.58 times
Non-Institutional Buyers: 40.63 times
Retail Investors: 69.88 times
Chamunda Electricals IPO: All You Need To Know
Total Issue Size: Rs 14.6 crore
Shares on offer: 29,19,000 shares
Price Band: Rs 47 to Rs 50 per share
Lot Size: 3,000 shares
IPO Closing date: Thursday, Feb. 6
Company promoters: Mr. Chiragkumar Natvarlal Patel, Mr. Natvarbhai K Rathod and Mrs. Purnikaben C Patel
As per the company's RHP document, of the 29,19,000 shares offered
5,52,000 (18.91%) is reserved for qualified institutional buyers
4,14,000 (14.18%) for non-institutional investors
9,66,000 (33.09%) for retail investors
8,22,000 (28.16%) for Anchor investors
Chamunda Electricals IPO Allotment and Listing Details
The allotment for the Chamunda Electricals IPO is expected to be finalised on Friday, Feb. 7. Investors who are successfully allotted the shares of Chamunda Electricals can expect the credit in their Demat account by Monday, Feb. 10. Shares of Chamunda Electricals IPO are expected to list on NSE SME on Tuesday, Feb. 12.
About Chamunda Electricals
The Palanpur-based 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.
The company 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 remaining funds will go towards general corporate purposes and issue expenses.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
