Chamunda Electricals IPO Closes with 56x Subscription, Grey Market Premium Hits 30%

The Chamunda Electricals IPO, which closes today, February 6, 2025, has been oversubscribed by 56.10 times. Shares are trading at a 30% premium in the grey market, signaling strong demand. The listing is scheduled for February 11, 2025, on the NSE SME platform.

CONTENTS:

• Chamunda Electricals IPO Closes Today with 56.10x Subscription; Grey Market Premium at 30%
• Upcoming IPOs: Arisinfra, Ather Energy, Dorf Ketal Chemicals, and More Set to Raise Billions
• Chamunda Electricals IPO Oversubscribed 56 Times; Strong Grey Market Premium Signals Strong Listing
• Chamunda Electricals IPO Receives Strong Response, Trades at 22% Premium in Grey Market

Chamunda Electricals IPO Closes with 56x Subscription, Grey Market Premium Hits 30%

Chamunda Electricals IPO Closes Today with 56.10x Subscription; Grey Market Premium at 30%

Chamunda Electricals IPO Closes with 56x Subscription The initial public offering (IPO) of Chamunda Electricals, which opened on February 4, 2025, will close today, February 6, 2025. The IPO, available at a price band of Rs 47-50 per share with a minimum lot size of 3,000 shares, has garnered significant investor interest. As of Thursday morning, the offering was oversubscribed by 56.10 times, according to data from the National Stock Exchange (NSE). The IPO consists of a fresh issue of 29,19,000 equity shares, and retail investors must invest a minimum of Rs 1,50,000 for one lot, while high-net-worth individuals (HNIs) need to bid for two lots, totaling Rs 3,00,000.

Chamunda Electricals’ shares are currently trading at a premium in the grey market, with a price of Rs 65 per share, reflecting a 30% premium over the upper price band. The basis of allotment is expected to be finalized on February 7, 2025, and successful applicants should receive their shares in their demat accounts by February 10, 2025. The company is scheduled to list on the NSE SME platform on February 11, 2025.

The IPO proceeds will be used for various purposes, including acquiring new testing equipment, meeting working capital needs, repaying loans, and covering issue-related expenses. Chamunda Electricals is involved in the operation and maintenance of substations, testing and commissioning of electrical substations, and solar power generation, among other services.

Upcoming IPOs: Arisinfra, Ather Energy, Dorf Ketal Chemicals, and More Set to Raise Billions

Chamunda Electricals IPO Closes with 56x Subscription Several mainboard initial public offerings (IPOs) are set to launch soon, with Arisinfra Solutions leading the pack. The company is looking to raise ₹600 crore, though the launch date and price band have yet to be announced. Other major IPOs expected include Ather Energy, Dorf Ketal Chemicals, Kalpataru Ltd, WeWork India, and SK Finance, among others.

Dorf Ketal Chemicals, a specialty chemicals company, aims to raise ₹5,000 crore, with ₹1,500 crore coming from a fresh issue and ₹3,500 crore from an offer-for-sale. Ather Energy, backed by Hero MotoCorp, plans to raise ₹4,500 crore, primarily for a new manufacturing unit, debt repayment, and R&D. Meanwhile, SK Finance is set to raise ₹2,200 crore, focusing on expanding lending operations and augmenting its capital base.

Other upcoming IPOs include Kalpataru Ltd, a real estate giant, which plans to raise ₹1,590 crore for debt repayment and general corporate purposes. WeWork India also has plans to launch an IPO, with a focus on an offer-for-sale, though details are still awaited.

In addition to these, several small and medium enterprise (SME) IPOs are scheduled to open this week, such as Ken Enterprises, Amwill Healthcare, Readymix Construction, Solarium Green, and Eleganz Interiors, with varying price bands and lot sizes.

Chamunda Electricals IPO Oversubscribed 56 Times; Strong Grey Market Premium Signals Strong Listing

Chamunda Electricals IPO Closes with 56x Subscription The Chamunda Electricals Ltd IPO, which closes on February 6, 2025, has attracted a strong response from investors. By 10:09 AM on its final day of bidding, the ₹14.60-crore NSE SME IPO had been subscribed 56.16 times, with 10.85 crore shares bid for, compared to 19.32 lakh shares on offer. The retail category saw 81.77 times subscription, the NII category 59.85 times, and the QIB category 8.58 times.

In the grey market, shares of Chamunda Electricals are trading at ₹66, reflecting a 32% premium over the upper IPO price of ₹50, suggesting a potential strong listing gain on February 11, 2025.

The IPO comprises entirely of a fresh issue of 29.19 lakh shares, with the price band set between ₹47 and ₹50 per share. Retail investors are required to invest a minimum of ₹1.5 lakh, while HNI investors must apply for at least two lots (6,000 shares), totaling ₹3 lakh.

The IPO allotment will be finalized on February 7, and the listing is scheduled for February 11 on the NSE SME platform.

Chamunda Electricals IPO Receives Strong Response, Trades at 22% Premium in Grey Market

Chamunda Electricals IPO Closes with 56x Subscription The IPO of Chamunda Electricals, which launched for public subscription on February 4, 2025, has garnered an exceptional response from investors. By 2:30 PM on the first day, the ₹14.60 crore offering had been oversubscribed 10 times. The price band for the IPO is ₹47-50 per share, and it offers a lot size of 3,000 shares.

The grey market has reflected strong demand, with Chamunda Electricals’ unlisted shares trading around ₹61, a 22% premium over the upper IPO price of ₹50.

The IPO comprises a fresh issue of 2,919,000 equity shares and is open until February 6, 2025. Retail investors need to invest a minimum of ₹1,50,000 for one lot (3,000 shares), while HNIs must apply for two lots (6,000 shares), totaling ₹3,00,000.

The allotment process is expected to conclude by February 7, and shares will likely be listed on the NSE SME platform by February 11, 2025.

Ahead of the IPO, Chamunda Electricals raised ₹4.11 crore from anchor investors. The funds raised will be used for capital expenditure, including purchasing new testing kits, working capital, term loan repayment, and other general corporate purposes. The company specializes in services related to electrical substations and solar power generation.