Chamunda Electricals IPO subscribed over 28 instances to this point on Day 2: Test GMP, value band and different particulars

The retail portion of the problem was subscribed 43.2 instances, whereas the problem was subscribed 24.1 instances within the non-institutional traders’ class on the second day of bidding. In the meantime, the certified institutional consumers had subscribed by 6.02 instances the allotted portion.
Chamunda Electricals IPO’s GMP on Day 2
Forward of itemizing, the corporate’s shares had been buying and selling at a gray market premium (GMP) of Rs 13 within the unlisted market on Wednesday, reflecting a 26% premium over the higher finish of the IPO value band of Rs 50.
Proceeds from the IPO
The online proceeds from the IPO shall be allotted for capital expenditure to accumulate new testing kits and gear, assist working capital, repay debt, and fund different normal company functions.
Chamunda Electricals IPO value band
The value band for Chamunda Electricals IPO is about at Rs 47-50 per share, with lots measurement of three,000 shares. The IPO allocation reserves 50% for institutional traders, 35% for retail traders, and the remaining 15% for non-institutional traders.
Chamunda Electricals IPO allotment and itemizing date
Chamunda Electricals is more likely to finalize the share allotment course of for the IPO on February 7, and the shares are scheduled to be listed on the NSE SME platform on February 11.
About Chamunda Electricals
The corporate is engaged within the enterprise of offering specialised companies of operation and upkeep of sub-station as much as 66 KV (kilovolt), testing and commissioning {of electrical} sub-station as much as 220 KV (kilovolt) and solar energy technology park of 1.5 MW (Megawatts) capability.
Throughout the photo voltaic scope, the companies embrace the erection of EHV class gear, buildings and gear, earthing, management cable works and different related works for substations as much as 220 KV (D Class). Over time we have now constructed deep experience to develop options and repair choices throughout our enterprise verticals
Throughout FY10-FY23, energy technology in India elevated at a CAGR of 4.75% with the identical witnessing its highest development price in over 30 years in FY23.
For the interval ended November 2024, the corporate clocked income from operations of Rs 18 crore with a revenue after tax (PAT) of Rs 2.81 crore.
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