Chamunda Electricals IPO Day 3: Check subscription status, GMP and other details about ₹15 crore SME issue

Chamunda Electricals IPO: The initial public offer (IPO of Chamunda Electricals kicked off for subscription on Tuesday, February 4. The issue witnessed a strong investor on day 1 of the bidding process, managing to sail through in nearly an hour of opening. In the grey market, the company's shares are witnessing a steady demand as well.

Chamunda Electricals IPO Subscription Status

On the final day of the book-building process, Chamunda Electricals IPO was subscribed 737.95 times, with the retail investor portion booked 554.09 times and the non-institutional investor (NII) portion subscribed 1,943.07 times. Meanwhile, the qualified institutional buyer (QIB) segment was booked 155.85 times.

Chamunda Electricals IPO Details

Here are key details about the Chamunda Electricals IPO:

Chamunda Electricals IPO Subscription Dates: The three-day public offer opened for subscription on Tuesday, February 4 and closed on Thursday, February 6.

Chamunda Electricals IPO Price Band: The price band for Chamunda Electricals IPO has been fixed at ₹47-50 apiece.

Chamunda Electricals IPO Size: The issue is entirely a fresh issue of 29.19 lakh shares, aiming to raise ₹14.60 crore.

Chamunda Electricals IPO Lot Size: The minimum lot size for Chamunda Electricals IPO is 3000 shares. Retail investors need to invest at least ₹1,50,000 to apply for one lot of the IPO.

Chamunda Electricals IPO GMP: The grey market premium or GMP today for Chamunda Electricals IPO is ₹27. Considering this GMP and issue price, shares of Chamunda Electricals could list at ₹77, up 54% over IPO price.

Chamunda Electricals IPO Reservation: In the IPO, 50% of the offer is reserved for QIBs, 35% for retail investors and 15% for NIIs.

Chamunda Electricals IPO Objective: The company plans to use the funds raised via the IPO to meet capex for the purchase of new testing kits and equipments, fund working capital requirements, repay debt, fund general corporate purposes and meet issue expenses.

Chamunda Electricals IPO Listing Date: Chamunda Electricals IPO will list on NSE SME with the likely listing date fixed as February 11, 2025.

Chamunda Electricals IPO BLRM: The book-running lead manager of the issue is GYR Capital Advisors while Kfin Technologies is the registrar to the issue.

About Chamunda Electricals: The company provides specialized services of operation and maintenance of substations up to 66 KV (kilovolt), testing and commissioning of electrical substations up to 220 KV (kilovolt) and solar power generation park of 1.5 MW (Megawatts) capacity. The scope of business includes the erection of EHV class equipments, structures and equipments, earthing, control cable works and other associated works for substations up to 220 KV (D Class).