Chamunda IPO Allotment Status: The Chamunda Electrical IPO allocation status is accessible as the allocation basis has been decided. Let’s learn more about the Chamunda IPO allotment status and its key details.
Overview of Chamunda Electricals
Their business involves testing and commissioning electrical substations up to 220 KV (kilovolt) as well as solar power generation parks with a 1.5 MW (megawatt) capacity. They also operate and maintain substations up to 66 KV (kilovolt). As part of their scope, they erect EHV class equipment, structures, and equipment; earthing; control cable works; and other related works for substations up to 220 KV (D Class). Chamunda Electricals have developed extensive knowledge over the years to create services and solutions for their business verticals, which are listed below:
- Maintenance & Operation of Electrical Substations
- EHV class equipment erection
- Solar power generation park
- Commissioning & Testing of electrical substations
Chamunda IPO Allotment Status & Other Details
Chamunda IPO allotment status is live to check now, and all other key details are listed below:
| Opening Date of the IPO | 4 February 2025 |
| Closing Date of the IPO | 6 February 2025 |
| Listing Date of the IPO | 11 February 2025 |
| Listed at | NSE SME |
| Face Value | ₹ 10 per share |
| Lot Size | 3000 |
| Issue Band | ₹ 47 to ₹ 50 per share |
| Total Issue Size | ₹ 14.6 crore |
| Issue Type | Book-built issue |
Chamunda IPO Allotment Status: Goals of the Issue
These are the issues’ objects:
- To finance the company’s working capital needs;
- To pay off term loans and cash credit;
- To cover the capital expenditure for the purchase of new testing equipment and kits;
- To cover issue costs;
- To fulfill general corporate objectives.
Chamunda IPO Allotment Status Details
As the subscription period for the Chamunda Electrical IPO closed on Thursday, February 6, 2025. From Friday, investors who submitted applications for the IPO are free to verify the status of their allocation to the Chamunda Electrical IPO. They can use the websites of KFin Technologies Limited and the NSE to check the allocation online. In total, the IPO received 737.95 subscriptions. Following the conclusion of the subscription, the IPO GMP dropped to about ₹12.
Chamunda IPO Allotment Status & Review
With a total subscription of 737.95 times, the IPO was significantly oversubscribed. There were 1,943.07 subscriptions to the NII section and 554.09 subscriptions to the retail portion. The company offers specialized O&M and testing services for sub-stations and it has ongoing O&M contracts worth over Rs. 64 crore. Its top and bottom lines have grown, but the sudden increase in its bottom lines from FY24 onward raises questions. The issue looks fully priced based on its recent financial performance, and investors may park funds for the medium to long term.
Conclusion
All things considered, investors responded favorably to Chamunda Electricals’ initial public offering (IPO), which is anticipated to list at a premium. Before investing, it is crucial to thoroughly evaluate the risks and financial standing of the business.
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