Chamunda Electricals IPO Listing: The shares of Chamunda Electricals are listed on the NSE SME for ₹70, which is 40% more than the IPO price. Let’s unleash all the details related to Chamunda Electricals IPO listing.
Brief Background of Chamunda Electricals
Chamunda Electricals Limited was founded in June 2013 and focuses on commissioning and taxing services for substations as well as the operation and maintenance of substations up to 66 KV. Additionally, the business generates 1.5 MW of solar power. For substations up to 220 KV, it has experience with the installation of EHV class structures, equipment, earthing, control cable work, and other associated duties.
Objectives of Chamunda Electricals IPO Listing
The company plans to use the issue’s proceeds for a number of important goals, such as covering its working capital needs, repaying cash credit and term loans, and making capital expenditures to buy new testing kits and equipment. Additionally, some of the money will go toward paying for issue-related expenses and other company objectives once the company is done with its listing.
Chamunda Electricals IPO Listing Details
Chamunda Electricals’ initial public offering (IPO) closed with 737.97 times bids after three days of bidding. 19.32 lakh shares were offered at the IPO, but offers for shares of 142.57 crore were received. Non-institutional investors (NII) were subscribed to 1,943.09 times, and the retail investor group was booked 554.13 times. Throughout the three days of bidding, the quota of QIB (Qualified Institutional Buyers) was bid on 155.13 times.
The book-running lead manager for the Chamunda Electricals IPO is GYR Capital Advisors Private Limited, while the issue’s registrar is Kfin Technologies Limited. For Chamunda Electricals’ initial public offering (IPO), Wiinance Financial Services Private Limited is the market maker.
Markey Situation Post Chamunda Electricals IPO Listing
After launching at a 40% premium over the IPO price, Chamunda Electricals’ shares experienced a 5% decline in value. Shortly after listing, 11.31 lakh shares were exchanged on the NSE. The entire trade value was 7.9 crore rupees. ₹73.18 crore was the company’s market capitalization. A lot of equity shares purchased by IPO investors at the listing price of ₹70 each were worth ₹2,10,000 (₹70 x 3,000). With a minimum investment of ₹1,41,000 (₹50 x 3,000) for a single lot, the investors of IPO would have profited by ₹69,000.
Conclusion
With a strong 738 subscriptions, the NSE SME issue ended on February 6. Out of the 19.32 shares available, 142.4 crore shares were applied for in the IPO. Moreover, if we analyze the Chamunda Electricals IPO listing details, the listing was successful, but the shares hit the power circuit soon after the listing was completed. Profit booking caused the stock to plummet up to 5%, reaching the lower circuit limit of ₹66.5 per share.
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