February 5, 2025
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What was the last grey market premium of Chamunda Electricals IPO?
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Subscription status of Chamunda Electricals IPO
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Chamunda Electricals Limited IPO Price Rs. 50 Lot 3000 shares, Rs. 14.60 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 6.02 | 7.40 | 24.28 | 15.45 | 8,124 |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Chamunda Electricals?
Chamunda Electricals Limited, established in June 2013, specializes in the operation and maintenance of substations up to 66 KV, testing and commissioning of substations up to 220 KV, and 1.5 MW solar power generation. The company offers a comprehensive range of services, including the installation of EHV class equipment, structures, earthing, control cables, and other related tasks for substations up to 220 KV (D Class).
With a skilled team of over 600 engineers, supervisors, and support staff, Chamunda Electricals is well-equipped to manage complex projects with precision and reliability.
The company’s operations are focused on the following key areas:
- Operation, Maintenance, Testing, and Commissioning of Electrical Substations
- Establishment of Solar Power Generation Parks
- Installation and Commissioning of Electrical Equipment for voltages up to 220 kV
As of December 31, 2024, Chamunda Electricals employed 637 full-time staff members.
Get more information about the company @ https://www.chamundaconst.com/
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Chamunda Electricals IPO Details |
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| IPO opens on | 4 February 2025 |
| IPO closes on | 6 February 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2919000 Shares / Rs 14.60 Crore |
| * Fresh Issue | 2919000 Shares / Rs 14.60 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 165000 Shares |
| Net offer to Public | 2754000 Shares/ Rs 13.77 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 47-50 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 3000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 1377000 | 6.88 |
| HNI (15%) | 413100 | 2.07 |
| RII (35%) | 963900 | 4.82 |
| Total Shares | 2754000 | 13.77 |
| Retail portion will be oversubscribed by |
321 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 3000 Shares | Rs.150000 |
| Min HNI Application | 6000 Shares | Rs. 300000 |
Who are the Promoters of Chamunda Electricals?
The Promoters of the company are Mr. Chiragkumar Natvarlal Patel, Mr. Natvarbhai K Rathod and Mrs. Purnikaben C Patel.
What are the Objects of Chamunda Electricals IPO?
The Offer comprises of fresh issue of shares.
The objects of the Issue are: –
- To meet the Capital Expenditure for Purchase of New Testing Kit and Equipments;
- Funding the working capital requirements of the company;
- Repayment of Term Loans and Cash Credit;
- To meet General Corporate Purposes;
- To meet out the Issue Expenses.
Tentative timetable |
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| IPO opens on | 4 February 2025 |
| IPO Closes on | 6 February 2025 |
| IPO Allotment on | 7 February 2025 |
| Refund Initiation | 10 February 2025 |
| Credit of Shares | 10 February 2025 |
| Listing on | 11 February 2025 |
| Registered Office of the Company Chamunda Electricals Limited Shop No.113,114, Sakar Building Opp. Petrol Pump Near Railway Fatak, Palanpur-385001 |
| Who is the Lead Manager of this IPO? GYR Capital Advisors Pvt Ltd |
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Who is the Registrar to IPO? |
Chamunda Electricals IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Chamunda Electricals IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 11.32 | -.51 | -0.78 | (16.46) |
| 2022-23 | 14.01 | 0.31 | 0.47 | 9.10 |
| 2023-24 | 20.07 | 2.44 | 3.69 | 41.54 |
| Book Value of the Share on 31.03.2024 |
8.89 | |||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 50 | ||
Key Performance
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| Price/EPS of 23-24 | 13.55 |
| Price/BV Ratio | 5.62 |
| Debt/Equity Ratio | 2.04 |
How Chamunda Electricals IPO compares with the Peers?
The company believes that there is no listed company which is specifically comparable to it w.r.t. to its business model, size and financials.
| As per RHP | FV | PE | RoNW |
| Ratio | Ratio | ||
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chamunda Electricals IPO Review by Paresh Gordhandas, CA & Research Analyst.
Chamunda Electricals Limited, established in June 2013, specializes in the operation and maintenance of substations up to 66 KV, testing and commissioning of substations up to 220 KV, and 1.5 MW solar power generation.
The Company have set-up a solar power-generation at Survey no. 1085, Village-Bhatib, Taluka-Dhanera, District-Banaskantha, Gujarat 385310 which has a capacity of 1.5 MW in which the Company have signed a 25-years Purchase Power Agreement with Uttar Gujarat Vij Company Limited.
The company has incurred loss of Rs. 51 lacs during 2021-22 on turnover of Rs. 11.32 crore. Whereas during 2023-24, a year prior to the IPO, it has earned net profit of Rs 2.44 crore on the total income of Rs. 20.07 crore. Apparently, the company has shown EPS of Rs. 3.69 during 2023-24. The company has issued 450180 shares subsequent to 31 March 2024 on conversion of loan. 5635414 shares have been issued as bonus shares and accordingly its capital has increased to Rs. 8.08 crore. The reworked EPS comes to Rs. 3.01.
The company has huge trade receivable as on 31 March 2024 and also as on 31. Dec. 2024. The Trade-receivable as on 31.12.2024 was Rs. 6.42 crore as compared to total income of Rs. 18.29 crore. So, trade receivables are equivalent to about 3 months revenue. During year 2021-22, the direct expenses/total income ratio was 28.71 % and in the year 2023-24, the ratio of Direct expenses/total income has declined to 7.62%. We donot know why ratio of direct expenses have declined so sharply.
The lead manager: GYR Capital Advisors has good track record.
+ from fundamental angle: s
+ from grey market angle:
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