IPO Details

Bidding Dates

04 Feb '25 - 06 Feb '25

Minimum Investment

₹1,50,000 / 1 Lot (3,000 Shares)

Price Range

₹47-₹50

Maximum Investment

₹1,50,000 / 1 Lot (3,000 Shares)

Retail Discount

To be announced

Issue Size

₹14.60 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Chamunda Electricals IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Feb 04, 25

IPO Closing Date

Feb 06, 25

Basis of Allotment

Feb 07, 25

Initiation of Refunds

Feb 10, 25

IPO Listing Date

Feb 11, 25

About Chamunda Electricals IPO

Chamunda Electricals Limited is launching its IPO with a fresh issue of 29.19 lakh shares, raising ₹14.60 crore. The subscription window will open from February 4 to February 6, 2025, with the allotment expected on February 7, 2025. 

The IPO is set to list on NSE SME on February 11, 2025. The price band is fixed between ₹47 and ₹50 per share, with a minimum lot size of 3,000 shares. Retail investors need to invest at least ₹1,50,000, while HNIs must apply for a minimum of two lots, amounting to ₹3,00,000. 

GYR Capital Advisors Private Limited is the lead manager, Kfin Technologies Limited is the registrar, and Wiinance Financial Services Private Limited is the market maker. Chamunda Electricals specialises in substation operations up to 66 KV, testing and commissioning for up to 220 KV substations, and 1.5 MW solar power generation. 

The IPO aims to support business expansion and strengthen financial stability. Investors looking for opportunities in the power and infrastructure sector may find this IPO worth considering.

Industry Outlook

  1. India's power sector is expanding rapidly, with a total generation capacity of 442.85 GW, making it the third-largest electricity producer globally. In FY23, power generation grew by 8.87% to 1,624.15 billion kWh, marking the highest growth rate in over 30 years. 
  2. India's renewable energy sector is growing at a CAGR of 15.4%, with installed capacity reaching 125.15 GW in FY23. The government aims to meet 50% of electricity needs from renewable sources by 2030. This transition creates significant opportunities for Chamunda Electricals Limited to contribute through solar power generation and substation projects.

Chamunda Electricals IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. A portion of the net proceeds will be used for investment in new testing kits and equipment to improve service quality and operational efficiency.
  2. The funds will also support working capital needs, ensuring smooth business operations and future growth.
  3. A portion of the proceeds will be used to repay term loans and cash credit, reducing financial liabilities and improving stability.
  4. The remaining funds will be used for general corporate purposes.

About Chamunda Electricals Limited 

Chamunda Electricals Limited specialises in the operation, maintenance, testing, and commissioning of electrical substations up to 220 KV. The company has developed expertise in erecting Extra High Voltage (EHV) class equipment, control cable works, and earthing, ensuring reliable power transmission and distribution.

The company operates a 1.5 MW solar power generation park in Banaskantha, Gujarat, and has secured a 25-year Purchase Power Agreement (PPA) with Uttar Gujarat Vij Company Limited. This reflects its commitment to renewable energy and aligns with India's growing focus on clean energy solutions.

With a strong technical foundation, Chamunda Electricals Limited provides customised solutions tailored to client needs across industries. Its client-centric approach has enabled it to build long-term relationships and expand service offerings.

With India's power sector witnessing rapid expansion, Chamunda Electricals Limited is well-positioned to capitalise on emerging opportunities in both traditional and renewable energy segments. Its expertise in power infrastructure and commitment to quality services make it a key player in the industry.

How To Check the Allotment Status of Chamunda Electricals IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Chamunda Electricals IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Chamunda Electricals IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Chamunda Electricals IPO 

Registered office: Shop No.113, 114, Sakar Building Opp. Petrol Pump, Near Railway Fatak, Palanpur, Gujarat, India, 385001

Phone: +91 99789 12471

E-mail: info@chamundaconst.com

Chamunda Electricals IPO Reservation

Investor Category

Shares Offered

QIB Shares

Not more than 50% of the offer

Retail Shares

Not less than 35% of the net issue

NII (HNI) Shares

Not Less than 15% of the net issue

Chamunda Electricals IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

3,000

₹1,50,000

Retail (Max)

1

3,000

₹1,50,000

HNI (Min)

2

6,000

₹3,00,000

Chamunda Electricals IPO Promoter Holding

The promoters of the company are Mr. Chiragkumar Natvarlal Patel, Mr. Natvarbhai K Rathod and Mrs. Purnikaben C Patel.

Share Holding Pre-Issue

97.46%

Share Holding Post Issue

-

Key Performance Indicators for Chamunda Electricals IPO

As of March 31, 2024, the market capitalisation of Chamunda Electricals's IPO is ₹55.02 crore. Here are the KPIs of Chamunda Electricals:

KPI

Value

RoE (%)

52.43

RoCE (%)

36.82

Debt/Equity

0.78

Price to Book Value

10.59

PAT Margin

12.21

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

3.01

3.41

P/E (x)

16.59

14.66

Note: Pre-IPO EPS is based on the pre-issue shareholding as per RHP and FY earnings as of March 31, 2024. Post-Issue EPS is calculated using post-issue shareholding and annualised FY earnings as of December 31, 2024, as stated in RHP.

Chamunda Electricals IPO Prospectus

Chamunda Electricals IPO Registrar and Lead Managers

Chamunda Electricals IPO Lead Managers

  • GYR Capital Advisors Private Limited

Registrar for Chamunda Electricals IPO

 Kfin Technologies Limited

Chamunda ElectricalsIPO Registrar

Financial Performance of Chamunda Electricals Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 1,994.93 1,394.24 1,123.31
Profit After Tax (PAT) (in ₹ lakh) 243.63 31.21 (51.28)
EPS (Earnings per Share in ₹) 3.69 0.47 (0.78)
Total Borrowings (in ₹ lakh) 460.84 368.55 464.88
Return on equity (%) 52.43 9.54 (15.21)
Return on capital employed (%) 36.82 12.04 (5.49)
EBITDA (in ₹ lakh) 471.58 178.42 46.51
Current Ratio (x) 1.19 1.02 0.70

Know before investing

Strengths

5

  1. Chamunda Electricals Limited has over a decade of experience in executing complex power sector projects.

  2. Strong promoters and an experienced board provide strategic direction and industry expertise.

  3. Advanced testing and commissioning equipment ensure precision and reliability in power solutions.

  4. A scalable business model with operations across 77 substations strengthens market presence.

  5. Expansion into EHV testing and commissioning unlocks new market opportunities.

Risks

5

  1. Over 85% of revenue comes from electrical substation projects, posing concentration risk.

  2. Top 10 customers contributed 100% of revenue, increasing dependency on key clients.

  3. Business heavily relies on government tenders, making revenue uncertain.

  4. Intense competition in bidding may impact contract awards and profitability.

  5. Working capital-intensive operations face risks from delays and cost overruns.

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Chamunda Electricals IPO FAQs

What is the Chamunda Electricals IPO?

Chamunda Electricals IPO is a book-built issue IPO. It will be open from February 4, 2025, to February 6, 2025.

When will Chamunda Electricals IPO be allotted?

The Basis of Allotment will happen on Friday, February 7, 2025.

When will Chamunda Electricals IPO open for subscription?

The IPO subscription window will open on  February 4, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 3,000 shares.

When will Chamunda Electricals and Infra Solutions Limited list on exchanges?

The listing date for Chamunda Electricals Limited is Tuesday, February 11, 2025.

What is the issue size of Chamunda Electricals IPO?

The issue size of the Chamunda Electricals IPO is up to ₹14.60 crore, with a complete fresh issue of ₹14.60 crore.

What are the open and close dates of the Chamunda Electricals IPO?

The open and close dates for Chamunda Electricals IPO are from February 4, 2025, to February 6, 2025.

What would be the listing gains on Chamunda Electricals IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Chamunda Electricals IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Chamunda Electricals IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Chamunda Electricals Limited using one PAN?

You can submit only one application using your PAN card.

How to read Chamunda Electricals and Infra Solutions Limited's financial statements?

To read Chamunda Electricals and Infra Solutions Limited’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for the Chamunda Electricals IPO?

Pre-apply allows investors to apply for the  Chamunda Electricals IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Chamunda Electricals Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Chamunda Electricals Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Chamunda Electricals IPO?

Kfin Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is Chamunda Electricals IPO getting listed?

Chamunda Electricals IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).