Chamunda Electricals is likely to finalise the basis of allotment of its shares on Friday, February 7. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or latest by Monday, February 10. The SME IPO of the substations player saw a bumper response from the investors.
The IPO of Palanpur-based Chamunda Electricals was open for bidding between February 4 and February 6. It had offered its shares in the price band of Rs 47-50 per share with a lot size of 3,000 shares. The company raised a total of Rs 14.60 crore via IPO, which was entirely a fresh share sale of up to 29,19,000 equity shares.
The SME issue was overall subscribed a solid 737.97 times. The allocation for the non-institutional investors (NIIs) was subscribed a stellar 1,943.09 times The portion allocated for retail investors was subscribed 554.13 times. However, the portion reserved for qualified institutional bidders (QIBs) was booked 155.85 times.
Chamunda Electricals saw bids for 1,42,57,62,000 equity shares for a net issue of 19,32,000 equity shares, amounting to Rs 7,128.81 crore. Nearly 1.97 lakh applications came for the issue, wherein 1.78 lakh retail investors participated for the issue. About 18,400 NIIs made their bids for the issue.
The grey market premium of Chamunda Electricals has seen sharp rise following a strong demand for the issue. Last heard, the company was commanding a premium of Rs 27 in the unofficial market, suggesting a listing gains of around 54 per cent for the investors. However, the premium in the grey market stood around Rs 21 on the last day of the bidding.
Incorporated in June 2013, Chamunda Electricals specializes in operating and maintaining up to 66 KV substations, testing and commissioning for up to 220 KV substations, and 1.5 MW solar power generation. Its services include erecting EHV class equipment, structures, earthing, control cable works, and other associated tasks for up to 220 KV (D Class) substations.
GYR Capital Advisors is the book running lead manager of the Chamunda Electricals IPO, while Kfin Technologies is the registrar for the issue. The market maker for Chamunda Electricals IPO is Wiinance Financial Services. Shares of the company are likely to be listed on NSE SME platform on Tuesday, February 11, 2025.
Investors, who had bid for the issue of Chamunda Electricals, can check the allotment status on the National Stock Exchange (NSE) website:
1) Visit https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2) Sign up with all the requisite details if you are not register already.
3) Log in with your username and password.
4) Check I am not a robot.
5) Ensure IPO bid details column is checked.
6) Select the symbol/company in the dropdown.
7) Check your PAN number and enter your application number.
8) Hit the 'get data' button and get your allotment status.
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.