Chamunda Electricals IPO: Check Latest GMP, Price Band, And Key Details

The initial public offer (IPO) of Chamunda Electricals opened today and will close on February 6, 2025. The key goal of the firm is to raise approximately Rs 14.6 crore via a fresh issue of 29.19 shares. The share allotment of Chamunda Electricals will be completed on February 7, 2025.

Latest Subscription Status

The issue of Chamunda Electricals was reportedly subscribed 16.7 times. In the retail segment, the public issue was subscribed 26.57 times, Qualified Institutional Buyers or QIBs subscribed 6.02 times, and Non-institutional investors or NIIs category subscribed 7.91 times, according to chittorgarh.com.

Price Band

The price band of the IPO has been fixed at Rs 47-Rs 50 apiece. The minimum lot size application for an application is 3000 shares. Minimum investment amount needed by retail investors is Rs 1,50,000 while minimum lot size investment for HNI is 2 lots or 6000 shares that will amount to Rs 300,000. The IPO allocation has reportedly reserved 50% for institutional investors, 35% for retail investors, and 15% for non-institutional investors.

Latest GMP

The SME IPO’s latest GMP or Grey Market Premium is Rs 13 as on 10:29 pm on February 4, 2025. With the price band of Rs 50.00 apiece, the IPO’s likely listing price is Rs 63 apiece (cap price + latest GMP). The estimated percentage gain/loss per share is 26.00%, as per latest details available at Investorgain.com.

Book Running Lead Manager

Chamunda Electricals IPO’s book running lead manager is GYR Capital Advisors Private Limited and Kfin technologies is the registrar. Its market maker is Wiinance Financial Services Private Limited. Promoters of Chamunda Electricals are Natvarbhai K Rathod, Purnikaben C Patel, and Chiragkumar Natvarlal Patel. It is totally a fresh issue of 29.19 lakh shares.

About Chamunda Electricals

The company came into existence in 2013. Chamunda Electricals achieved specialisation in, maintenance, operation, testing, and commissioning of electrical substations up to 220 KV. It gained expertise in erecting Extra High Voltage (EHV) class equipment, earthing, control cable works, and ensuring trustoworthy power transmission and distribution, among others. It operates a 1.5 MW solar power generation park in Banaskantha, Gujarat, and obtained a 25-year Purchase Power Agreement (PPA) with Uttar Gujarat Vij Company Limited. Chamunda Electricals Limited offers customised solutions tailored to client requirements across industries.

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