CLN Energy IPO Subscribed 3.4 Times: GMP, Price Band, and Key Details
CLN Energy's SME IPO has generated significant attention, with the subscription reaching 3.4 times on the final day, January 27, 2025. The company is looking to raise Rs 72 crore through this offering, with shares priced between Rs 235-250 per share. The IPO closes on January 27, with allotment finalization on January 28 and listing scheduled for January 30 on the BSE SME platform.
Subscription Details
- Retail investors: Oversubscribed by 4.92 times.
- Non-institutional investors (NIIs): Subscribed by 2.87 times.
- Qualified institutional buyers (QIBs): Fully subscribed at 1.07 times.
The IPO comprises a fresh equity sale of 28.92 lakh shares, with the minimum bid size set at 600 shares per lot. The allocation structure is divided as follows:
- 50% for QIBs
- 35% for retail investors
- 15% for NIIs
Use of Proceeds
The net proceeds from the IPO will be utilized for:
- Purchasing machinery and equipment.
- Funding working capital requirements.
- General corporate purposes.
CLN Energy's Business Overview
CLN Energy specializes in manufacturing custom lithium-ion batteries, motors, and powertrain components for electric vehicles (EVs). Their products include controllers and converters, catering to both mobility and stationary applications under a B2B model. The company’s focus aligns with the booming global lithium-ion battery market, valued at $54.4 billion in 2023, with an expected CAGR of 20.3% through 2030.
Financial Performance
For the period ending September 2024, CLN Energy reported:
- Revenue: Rs 75 crore
- Profit After Tax (PAT): Rs 4.63 crore
Key Dates and Additional Information
- IPO Closing Date: January 27, 2025
- Allotment Finalization: January 28, 2025
- Listing Date: January 30, 2025
The IPO is managed by Aryaman Financial Services as the lead manager and Bigshare Services as the registrar.
Currently, CLN Energy does not have any Grey Market Premium (GMP) activity. However, this does not imply a lack of demand, as the grey market may see activity post-closure.
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.
0 comments:
Post a Comment