Chamunda Electricals IPO: Strong Demand and 22% Listing Gain Expected

Chamunda Electricals’ IPO, open from February 4 to February 6, has already seen significant interest, with the retail segment oversubscribed by 10.31 times. The company aims to raise ₹14.6 crore by offering 29.19 lakh shares at ₹47-50 per share. With a Grey Market Premium (GMP) of ₹11, shares are expected to list at ₹61, signaling a 22% potential gain. The IPO will list on the NSE SME platform on February 11.

CONTENTS:

• Chamunda Electricals IPO: Key Details, Subscription Dates, and Market Outlook
• This Week’s SME IPOs: Fresh Investment Opportunities in the Stock Market
• Chamunda Electricals IPO: Strong Investor Interest as Subscription Opens
• Chamunda Electricals IPO Opens: Strong Interest and Promising Listing Ahead

Chamunda Electricals IPO: Strong Demand and 22% Listing Gain Expected

Chamunda Electricals IPO: Key Details, Subscription Dates, and Market Outlook

Chamunda Electricals IPO: Strong Demand and 22% Listing Chamunda Electricals Ltd is launching its IPO, which opens on February 4 and closes on February 6, with a price range of ₹47 to ₹50 per share. The company plans to raise ₹14.60 crore to fund working capital, repay loans, and support capital expenditures. Chamunda Electricals, established in 2013, focuses on operating and maintaining substations up to 66 KV and testing those up to 220 KV, as well as solar power generation. They also specialize in the installation of EHV equipment, earthing, control cable installation, and other substation-related tasks.

The IPO consists of a fresh issue of 29,19,000 equity shares, with no offer for sale. The company’s objective is to use the funds for capital expenditure, loan repayments, and corporate purposes. The book running lead manager for the IPO is GYR Capital Advisors, and Kfin Technologies is the registrar.

The current grey market premium (GMP) for the IPO is +₹11, suggesting a potential listing price of ₹61 per share, which is a 22% increase over the upper price band of ₹50. This premium indicates strong market interest and a promising debut.

This Week’s SME IPOs: Fresh Investment Opportunities in the Stock Market

Chamunda Electricals IPO: Strong Demand and 22% Listing This week, the stock market will witness the launch of five SME IPOs, providing fresh investment opportunities. While the mainboard IPO space is on hold, these new SME offerings are gaining attention. Here’s a quick overview:

1. Chamunda Electricals IPO: Opening from February 4 to February 6, with a price range of ₹47 to ₹50 per share. The company plans to raise ₹14.6 crore through the issuance of 29.19 lakh shares, with proceeds going towards capital expenditures, purchasing testing kits, and reducing debt.
2. Ken Enterprises IPO: This IPO will be open from February 5 to February 7, with a price band of ₹94 per share. The company is aiming to raise ₹83.65 crore through a combination of a fresh issue and an offer for sale.
3. Amwill Healthcare IPO: Subscriptions will be accepted from February 5 to February 7, with shares priced between ₹105 and ₹111 per share. Unistone Capital is handling the lead manager role for this IPO.
4. Readymix Construction IPO: Scheduled for subscription from February 6 to February 10, priced between ₹121 and ₹123 per share. The company plans to raise ₹37.66 crore through this fresh issue.
5. Eleganz Interiors IPO: This IPO will be available for subscription from February 7 to February 11, with shares priced between ₹123 and ₹130 each. The IPO will list on the NSE SME platform, with a tentative listing date of February 14.

Additionally, there are two recent IPO listings to watch: Dr Agarwal’s Healthcare IPO, set to list on February 5, and Malpani Pipes IPO, expected to list on February 4.

Chamunda Electricals IPO: Strong Investor Interest as Subscription Opens

Chamunda Electricals IPO: Strong Demand and 22% Listing Chamunda Electricals IPO opened for subscription on February 4 and is receiving strong investor interest. By 12:50 pm on the first day, the issue was oversubscribed 5.71 times, with retail investors subscribing 10.31 times and non-institutional investors (NII) subscribing 3 times. The qualified institutional buyer (QIB) segment had yet to receive any bids.

Key details about the IPO:

• Subscription Dates: February 4 to February 6, 2025
• Price Band: ₹47-50 per share
• IPO Size: The company is offering 29.19 lakh shares, aiming to raise ₹14.60 crore through this fresh issue.
• Lot Size: The minimum lot size is 3,000 shares, requiring an investment of ₹1,50,000 for retail investors to apply for one lot.
• Grey Market Premium (GMP): The GMP is ₹11, indicating the shares could list at ₹61, which is 22% higher than the issue price.
• Reservation: 50% of the offer is reserved for QIBs, 35% for retail investors, and 15% for NIIs.
• Objective: The funds will be used for capital expenditure on new testing kits, working capital, debt repayment, general corporate purposes, and issue expenses.
• Listing Date: The shares are expected to list on the NSE SME platform on February 11, 2025.

Chamunda Electricals offers specialized services for the operation and maintenance of substations up to 66 KV and testing of substations up to 220 KV. The company also operates a 1.5 MW solar power generation park.

Chamunda Electricals IPO Opens: Strong Interest and Promising Listing Ahead

Chamunda Electricals IPO: Strong Demand and 22% Listing Chamunda Electricals IPO has officially opened for subscription on February 4 and will close on February 6. The company aims to raise ₹14.6 crore through a fresh issue of 29.19 lakh shares. The allotment of shares will take place on February 7, and successful bidders will have their shares credited to Demat accounts by February 10. The shares will be listed on the NSE SME platform on February 11.

The IPO’s price band is ₹47-50 per share, and the minimum investment for retail buyers is ₹1,50,000, requiring the purchase of 3,000 shares in a single lot. The issue is reserved as follows: 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).

The grey market premium (GMP) of the IPO is ₹11, suggesting a potential listing price of ₹61 per share, a 22% gain from the upper end of the price band. The funds raised will be used for capital expenditure, purchasing new testing kits and equipment, working capital requirements, debt repayment, and general corporate purposes.

Chamunda Electricals specializes in the operation and maintenance of electrical substations up to 66 KV, as well as testing and commissioning substations up to 220 KV. The company also manages a 1.5 MW solar power generation plant. For FY24, Chamunda Electricals reported a revenue of ₹20.07 crore, a 43% increase from the previous year, and a net profit of ₹2.44 crore.