The initial public offer (IPO) of Chamunda Electricals received an overwhelming response on Tuesday from investors as it was reportedly subscribed 46.09 times. Today, bidding for public issue entered its second day. As per reports available till 6:30 pm, the SME IPO’s retail segment was subscribed 69.88 times, Qualified Institutional Buyers or QIBs subscribed 8.58 times, and Non-institutional investors or NIIs category subscribed 40.63 times, according to chittorgarh.com. Retail investors bid for 6,75,00,000 shares against 9,66,000 offered.
Chamunda Electricals IPO Latest GMP
The SME IPO’s latest GMP or Grey Market Premium stood at Rs 7 as on 7.00 pm on February 5, 2025. With the price band of Rs 50.00 per share, the IPO’s expected listing price is Rs 57 apiece (cap price + latest GMP). The likely percentage gain/loss per share is 14.00%, according to details available at Investorgain.com.
The initial public offer (IPO) of Chamunda Electricals opened on February 4 and will close on February 6, 2025. The goal of the company is to raise Rs 14.6 crore through a fresh issue of 29.19 shares. The share allotment of Chamunda Electricals will get completed on February 7, 2025.
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.
Meanwhile, Chamunda Electricals managed to raise Rs 4.11 crore from anchor investors during the bidding process finalised on February 3, 2025. Kfin Technologies serves as the registrar for the IPO, while GYR Capital Advisors is the book-running lead manager.
It is worth noting here the basis of allotment is likely to be completed by February 7, 2025 wherein successful will get shares in the demat account by February 10, 2025. It will be listed on NSE SME platform on February 11, 2025.
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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