Kolkata: Chamunda Electricals IPO has triggered big investor response on the very first day of bidding which began on Tuesday, February 4. The SME issue was overall subscribed 15.45 times — a huge 24.28 times in the retail category, 6.02 times in QIB and 7.4 times in the NII category by the end of the first day of the bidding process.
The issue is a book-built one designed to raise Rs 14.60 crores from the market. It consists entirely of fresh issue of 29.19 lakh shares. The price band of Chamunda Electricals is Rs 47-50. The GMP of Chamunda Electricals IPO which stood rock steady at Rs 11 for a few days climbed up to Rs 13 a listing gain of 26%. Bidding for the issue is set to close on February 6 and the allotment of shares will take place on February 7.
Chamunda Electricals IPO GMP rises, lot size
According to investorgain, Chamunda Electricals IPO GMP stood at Rs 11 between January 30 and February 3. On February 4, the first day of bidding the GMP climbed up to Rs 13, where it stood on the morning of February 5 too. Assuming the upper end of the price band of Rs 50, this GMP of Rs 13 indicates a listing gain of 26%. However, it must be remembered that GMP is an unofficial indicator and does not guarantee listing gain or loss and can change with time. The price of each equity share of Chamunda Electricals IPO has been priced at Rs 47-50. The minimum investible lot for a retail applicant consists of 3,000 shares, for which one has to commit an application money of Rs 1.5 lakh. For the HNI segment, the minimum application amount is Rs 3 lakh as he/she has to pitch for 6,000 shares.
Chamunda Electricals IPO refund date, allotment date
The issue closes for bidding on February 6. The allotment of shares will be decided on Friday, February 7. The refund of application money to unsuccessful applicants will be done on February 10. On the same day shares will be credited to demat accounts of successful applicants. GYR Capital Advisors Private Limited is the book running lead manager of the Chamunda Electricals IPO, while Kfin Technologies Limited is the registrar for the issue.
Chamunda Electricals is a Palanpur-bsed company (in Gujarat). It offers specialised services for operations and maintenance of electrical substations of up to 66 KV and testing/commissioning of substations up to 220 KV. The company also has a solar power generation park in Gujarat of capacity of 1.5 MW capacity. The firm has signed a 25-year purchase power agreement with Uttar Gujarat Vij Company.
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Chamunda Electricals IPO, an SME issue, generated significant investor response on the first day of the subscription process opening by garnering 15.45 times subscription overall. The GMP of Chamunda Electricals IPO also rose from Rs 11 to Rs 13 on February 5, the second day of bidding. is a book-built issue that is designed to raise Rs 14.60 crores and entirely consists of fresh issue of 29.19 lakh shares. The the date of allotment of shares is February 7. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
