Chamunda Electricals IPO to Open for Subscription on February 4

Chamunda Electricals Ltd is set to open its initial public offering (IPO) on February 4, 2025, making it the first SME IPO of the month. The issue will close on February 6, 2025. The IPO has a price band of ₹47 to ₹50 per share.

Particulars Details
IPO Dates Feb 4, 2025 to Feb 6, 2025
Price Band ₹47 to ₹50 per share
Issue Size ₹14.6 crore
Fresh Issue 29.19 lakh shares
Listing Date February 11, 2025

Issue Size and Structure

The company plans to raise ₹14.6 crore through a fresh issue of 29.19 lakh shares. There is no offer-for-sale (OFS) component, meaning all proceeds will go directly to the company. GYR Capital Advisors Pvt. Ltd. is managing the IPO as the book-running lead manager, while KFin Technologies Ltd. is the registrar.

Listing and Allotment

The basis of allotment will be finalised on February 7, 2025, followed by refunds and share credit to demat accounts by February 10, 2025. The shares are expected to be listed on the NSE SME platform on February 11, 2025.

Background

Chamunda Electricals Ltd, based in Gujarat, provides services in the operation, maintenance, testing, and commissioning of electrical substations up to 220 KV. It also operates a 1.5 MW solar power generation park.

IPO Fund Utilization

The company plans to use the IPO proceeds for:

  • Buying new testing kits and equipment
  • Working capital requirements
  • Repayment of loans and cash credit

Lot Size and Investment 

The minimum investment required for retail investors is ₹1,50,000, with a lot size of 3,000 shares. High Net-worth Individuals (HNIs) must apply for at least 2 lots (6,000 shares), amounting to ₹3,00,000.

Shareholding and Market Making

Before the IPO, promoters hold 97.46% of the company’s shares. Post-issue, the public shareholding will increase. Wiinance Financial Services Pvt. Ltd. is the market maker for this issue.

Reservation Split

  • QIB (Qualified Institutional Buyers): Up to 50%
  • Retail Investors: Minimum 35%
  • HNI/NII (Non-Institutional Investors): Minimum 15%

Chamunda Electricals will be listed on the NSE SME platform post-issue.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

SEBI Grants IPO Approvals to Varindera Constructions, Ellenbarrie Industrial Gases, and Sambhv Steel

In a significant development for the Indian capital markets, the Securities and Exchange Board of India (SEBI) has recently approved the initial public offerings (IPOs) of three companies: Varindera Constructions Ltd, Ellenbarrie Industrial Gases Ltd, and Sambhv Steel Ltd. This move is anticipated to bolster the companies’ growth trajectories and provide investors with new opportunities.

Varindera Constructions Ltd

Varindera Constructions Ltd, a prominent player in the construction sector, has received SEBI’s nod to proceed with its IPO. It plans to raise ₹1,200 crore through the issue, of which Rs 900 crore is a fresh issue, while ₹300 crore is from an offer for sale (OFS) by existing promoter members.

The company plans to utilise the capital raised to fund ongoing projects, reduce debt, and expand its operational capabilities. 

Ellenbarrie Industrial Gases Ltd 

Ellenbarrie Industrial Gases Ltd, a key supplier in the industrial gases industry will offer a fresh issue of equity shares worth ₹400 crore, along with an offer for sale (OFS) of 1.44 crore shares by existing shareholders.

The company plans to use the funds raised to repay debt and establish a new air separation unit at its Uluberia-II facility.

Sambhv Steel Ltd

Sambhv Steel Ltd, a notable entity in the steel manufacturing sector, has also secured SEBI’s approval for their respective IPO in which they plan a comprised of a fresh issue of ₹440 crore and an OFS of ₹100 crore by existing shareholders.

The net proceeds from the fresh issue, totalling ₹390 crores, will be allocated to debt repayment and general corporate purposes.

Conclusion

SEBI’s recent approvals for the IPOs of Varindera Constructions Ltd, Ellenbarrie Industrial Gases Ltd, and Sambhv Steel Ltd underscore the regulator’s confidence in these companies’ prospects. The forthcoming public listings are poised to provide these firms with the necessary capital to pursue their strategic objectives and offer investors fresh avenues for participation in India’s dynamic economic landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata Mutual Fund Announces Change in Fund Management for Tata Multicap Fund

Tata Mutual Fund has announced a change in the fund management structure of its Tata Multicap Fund, effective January 27, 2025. The fund, previously co-managed by Murthy Nagarajan (Debt), Rahul Singh (Equity), and Tejas Gutka (Co-Fund Manager Equity), will now be co-managed by Murthy Nagarajan (Debt) and Meeta Shetty. 

Management Changes in Tata Multicap Fund

Effective January 27, 2025, the Tata Multicap Fund will have the following fund management structure.

The fund, previously co-managed by Murthy Nagarajan (Debt), Rahul Singh (Equity), and Tejas Gutka (Co-Fund Manager Equity), will now be co-managed by Murthy Nagarajan (Debt) and Meeta Shetty.

About the Fund Managers

Murthy Nagarajan: Serving as the Debt Fund Manager, Murthy Nagarajan has been with Tata Mutual Fund for several years, bringing extensive experience in managing fixed-income investments.

Meeta Shetty: As the new Equity Fund Manager, Meeta Shetty has a strong background in equity markets and has been associated with Tata Mutual Fund in various capacities.

Conclusion

The restructuring of the Tata Multicap Fund’s management team aims to enhance the fund’s performance by leveraging the expertise of its seasoned managers. Investors are encouraged to stay informed about these changes and monitor the fund’s performance accordingly.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Bajaj Healthcare Gets Approval from DCGI to Manufacture Pimavanserin in India

Bajaj Healthcare Limited (BHL) has received approval from the Drug Controller General of India (DCGI) to manufacture Pimavanserin, including both its Active Pharmaceutical Ingredient (API) and drug formulation in the form of a 34 mg capsule.

The company has also extended manufacturing offers for Pimavanserin to several Indian pharmaceutical companies, ensuring that the drug is available in the domestic market.

What is Pimavanserin?

Pimavanserin is an atypical antipsychotic used to treat hallucinations and delusions in patients with Parkinson’s disease psychosis. It is marketed globally under the brand name Nuplazid and has gained recognition as a treatment option in the US antipsychotic drug market.

Presence and Global Sales

Acadia Pharmaceuticals, which sells Nuplazid, recently projected that combined net sales of Nuplazid and its other brand, Daybue, will exceed $1 billion in 2025. The drug has established itself in the US market as a preferred treatment in its category.

Background

Bajaj Healthcare was established in 1993 and manufactures APIs, intermediates, formulations, and nutraceuticals. It has operations in Europe, the US, Australia, the Middle East, and South America. The company has a market capitalization of over ₹2,100 crore.

Regulatory Disclosure

As per SEBI’s (Prohibition of Insider Trading) Regulations, 2015, the company’s trading window remains closed for directors and designated employees following its prior disclosure dated December 27, 2024.

The approval allows Bajaj Healthcare to produce Pimavanserin for the Indian market, making it available as a treatment option for Parkinson’s disease psychosis.

Market Reaction

Following the announcement, as of January 30, 12:49 PM, Bajaj Healthcare Ltd is trading at ₹637.30, down 2.90% (₹19.00) for the day, but has gained 66.38% over the past six months and 89.59% over the past year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

L&T Wins Major Order for Freight Handling Facilities in GCC

L&T, a USD 27 billion Indian multinational enterprise, Minerals & Metals division has secured a major contract to set up state-of-the-art freight handling facilities in the Gulf Cooperation Council (GCC) region, further strengthening its position in global infrastructure projects.

L&T Secures Key Project in the GCC Region  

Larsen & Toubro’s Minerals & Metals (M&M) division has won a major order to set up freight handling facilities in the GCC region. This order is a repeat contract from a prominent railway company in the GCC, which plans to expand its capacity in stages. The project will involve several phases including advanced automation and control systems at two different locations along with additional components.

Scope of Work and Execution  

The project involves the engineering, procurement, construction and commissioning (EPCC) of freight-handling facilities. These facilities will feature the latest automation and control technologies. L&T has a strong track record in completing similar freight handling projects both in India and the Middle East, showcasing its capabilities in delivering high-quality projects.

Strengthening M&M’s Reputation  

This new project reinforces M&M’s standing as a leader in freight handling facilities. According to Mr D K Sen, Executive Committee Member and Advisor to the CMD at L&T, the repeat order from the GCC’s largest railway company is a clear indication of L&T’s ability to consistently meet international standards in terms of quality, safety and timely project completion.

Project Classification and Value

The order is classified as a “Significant” project, valued between ₹1,000 crore and ₹2,500 crore.  

 

L&T’s project classification includes the following categories: 

  • Large (₹2,500 to ₹5,000 crore)
  • Major (₹5,000 to ₹10,000 crore)
  • Mega (₹10,000 to ₹15,000 crore)
  • Ultra-Mega (over ₹15,000 crore).  

L&T’s Industry Presence  

Larsen & Toubro, a $27 billion multinational company, is involved in various sectors like EPC projects, high-tech manufacturing and services. The company’s focus on customer satisfaction and maintaining top-quality standards has helped it maintain a leadership position in its key business areas for over 80 years.

L&T’s Share Performance 

As of January 30, 2025, at 12:45 PM, L&T’s shares are trading at ₹3,432.05 per share, down 0.51% from yesterday’s closing price. Over the last month, the stock has fallen by 4.10% and over the past year, it has declined by 6.42%. The stock has a 52-week high and 52-week low of ₹3,963.50 per share and ₹3,175.05 per share respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

USFDA Approves NATCO Pharma Everolimus Tablets

NATCO Pharma Ltd has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Everolimus tablets for oral suspension (TFOS) in 2mg, 3mg, and 5mg strengths. The drug is a generic version of AFINITOR DISPERZ, manufactured by Novartis Pharmaceutical Corporation.

NATCO Pharma Ltd is trading at ₹1,163.80, down ₹7.20 (0.61%) today as of January 30, 12:35 PM; the stock has dropped 16.71% in the past month but remains up 33.71% over the past year.

Usage and Indication

Everolimus TFOS is used in adults and children aged one year and older who have tuberous sclerosis complex (TSC), a condition that can cause subependymal giant cell astrocytoma (SEGA). The drug is prescribed for cases where the tumour cannot be removed surgically and requires medical treatment.

Market Size and Competition

According to industry sales data, Everolimus tablets for oral suspension generated approximately $112 million in the US for the 12 months ending September 2024. NATCO’s version enters a limited-competition market, offering a lower-cost alternative to the existing brand-name drug.

NATCO’s marketing partner, Breckenridge Pharmaceutical, Inc., plans to launch the drug immediately in the US market.

Company Overview

Headquartered in Hyderabad, India, NATCO Pharma develops generic and speciality pharmaceuticals, active pharmaceutical ingredients (APIs), and crop protection products. It operates nine manufacturing facilities and two R&D centres in India. 

The company’s plants are approved by regulatory authorities such as the USFDA, Health Canada, Brazil ANVISA, and the WHO, and it supplies products to over 50 countries.

Regulatory Disclosure

The announcement was made in a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed BSE and NSE about the approval.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Unifi Dynamic Asset Allocation Fund Filed Draft With SEBI

Unifi Mutual Fund has filed the Scheme Information Document (SID) for its new offering, the Unifi Dynamic Asset Allocation Fund. This is an open-ended hybrid scheme that allocates assets across equity, debt, and money market instruments to generate income and capital appreciation over the medium to long term, but there is no guarantee of returns.

Fund Category and Benchmark

The fund falls under the Dynamic Asset Allocation category and will be benchmarked against the CRISIL Hybrid 50 + 50 Moderate Index. This benchmark consists of a 50% allocation to BSE 200 and 50% to the CRISIL Composite Bond Fund Index, providing a reference for equity and debt performance.

Investment Strategy and Asset Allocation

The fund follows a flexible asset allocation approach. Depending on market conditions, the fund can invest 0% to 100% in equity and equity-related instruments and 0% to 100% in debt and money market instruments. 

The risk-o-meter indicates that the fund is a high-risk investment, meaning it is suitable for investors willing to take market fluctuations into account.

NFO and Subscription Details

    • Minimum Investment: ₹5,000 for lump sum and ₹500 for SIP
  • Minimum Application Amount: ₹5,000 (During NFO)
  • Entry Load: Nil
  • Exit Load: 1.5% on redemptions within 12 months (except for 20% of units which are exempt). No exit load applies after 12 months.
  • Liquidity: The fund will be open for redemption and repurchase on all business days.

Fund Management

The scheme will be managed by:

  • Saravanan V N – Chief Investment Officer 
  • Aejas Lakhani – Equity Fund Manager 
  • Karthik Srinivas – Debt Fund Manager 

Their role will be to actively adjust the portfolio based on market movements.

Expenses and Taxation

The total expense ratio (TER) is capped at 2.25% for an equity-oriented portfolio and 2% for other allocations.

Taxation will depend on the holding period. If equity exposure is more than 65%, gains will be taxed at 10% (LTCG above ₹1 lakh) or 15% (STCG). If equity exposure is lower, debt fund taxation rules will apply.

Additional Features

The fund offers:

  • Systematic Investment Plan (SIP) – ₹500 minimum investment
  • Systematic Transfer Plan (STP) – Monthly transfers between schemes
  • Systematic Withdrawal Plan (SWP) – Periodic withdrawals

Investors should assess their risk appetite and investment goals before considering this fund.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

GR Infraprojects Bags Western Railway Gauge Conversion Order Worth ₹262.28 Crore

GR Infraprojects Ltd, a distinguished Indian infrastructure enterprise, is renowned for its expertise in the construction and development of transportation infrastructure, with a primary focus on road projects, including highways, expressways, and urban infrastructure.

GR Infrastructure has the Lowest Bidder 

On January 29, 2025, GR Infraprojects announced that it has emerged as the lowest (L-1) bidder for a prestigious ₹262.28 crore railway infrastructure project under the auspices of Western Railway. The contract entails the gauge conversion of a 38.90 km track between Kosamba and Umarpada in the Vadodara division.

“We are delighted to inform you that our company has secured the position of L-1 bidder in the financial bid opening dated January 29, 2025, for the following tender issued by Western Railway,” GR Infraprojects stated in a regulatory filing.

This project, awarded under the EPC model, involves a variety of works, including earthworks, blanketing, ballast supply, bridge construction, station amenities, office buildings, and water and sanitation systems. 

It also includes the construction of 30 Road Under Bridges (RUBs) and complete track linking, excluding new rail supply. The financial bid was opened on January 29, 2025, with a completion timeline of 24 months from the appointed date.

GR Infraprojects Received a Letter of Intent (LoI)

In addition, GR Infraprojects revealed last month that it had received a Letter of Intent (LoI) from PFC Consulting Ltd for a prominent “transmission scheme” designed to integrate the Bijapur Renewable Energy Zone (REZ). 

Share Price Performance 

On January 30, 2025, at 9:37 AM, G R Infraprojects Ltd shares traded at ₹1,291.40 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Sona Comstar Signs MOU for Evtol and Drone Powertrains

Sona Comstar’s expertise in electric powertrains encompassing motors, inverters, and gearboxes aligns seamlessly with ePlane Co.’s vision to revolutionise air mobility. This strategic partnership will accelerate the development of cutting-edge technologies, further supporting the launch of eVTOLs (Electric Vertical Take-Off and Landing) and drones in India.

Signed MoU with Ubifly Technologies

Sona BLW Precision Forgings Ltd has recently notified the exchanges of its signing of a Memorandum of Understanding (MoU) with Ubifly Technologies Private Limited (The ePlane Co.) in Chennai. The collaboration will centre on the creation of advanced powertrains for eVTOL aircraft and drones, focusing on essential components such as gearboxes, motors, inverters, and other related systems.

 

With India’s Urban Air Mobility sector poised for rapid expansion, ePlane Co. is leading the charge, pioneering eVTOL applications for air ambulances, charter flights, and aerial cargo. The company’s recent type approval from the Directorate General of Civil Aviation (DGCA) further solidifies its position as an industry leader.

Statement From Sona Comstar

Mr. Vivek Vikram Singh, MD and Group CEO of Sona Comstar, expressed enthusiasm about the partnership, highlighting that it perfectly aligns with the company’s broader vision for mobility and their unwavering commitment to EPIC (Electric, Powertrain, Inverter, and Control) technologies. 

 

This MoU marks a pivotal step towards advancing India’s domestic air mobility capabilities and delivering “Made in India” solutions for the global market.

Sona BLW Precision Forgings Q2 FY25 Results

Sona BLW Precision Forgings Ltd. reported a strong 16% YoY growth in Profit After Tax (PAT) for Q2 FY25, reaching ₹143.57 crore, up from ₹124.06 crore in Q2 FY24. Revenue rose 17% to ₹922.18 crore, compared to ₹787.46 crore last year. 

The Battery Electric Vehicle (BEV) segment saw a 53% increase, now contributing 36% to total revenue. The company’s net order book as of September 30, 2024, stood at ₹23,100 crore. Additionally, Sona Comstar plans to acquire the Railway Equipment Division of Escorts Kubota Ltd. for ₹1,600 crore.

Share Price Performance 

On January 30, 2025, at 9:30 AM, Sona Blw Precision Forgings Ltd shares traded at ₹503.15 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Garden Reach Shipbuilders and Engineers and Apollo Micro Systems Signed MoU

Established in 1884 and headquartered in Kolkata, West Bengal, GRSE boasts a rich legacy of excellence in designing and constructing warships and specialised vessels for the Indian Navy, Coast Guard, and other maritime stakeholders.

GRSE signed MoU with AMS

Garden Reach Shipbuilders & Engineers Ltd (GRSE), a distinguished shipbuilding enterprise and one of India’s premier Defence Public Sector Undertakings (DPSUs), has signed a landmark Memorandum of Understanding (MoU) with Hyderabad-based Apollo Micro Systems Ltd (AMS) on January 29, 2025 in Kolkata.

The Memorandum of Understanding (MoU) was signed to establish a collaboration for the joint development and supply of Advanced Weapons and Electronic Systems. 

About Apollo Micro Systems Ltd (AMS)

AMS, renowned for its expertise in developing customised electronic hardware and software solutions for mission-critical applications, has an impressive clientele, including Bharat Electronics Ltd and other key players in the aerospace, defence, and homeland security sectors.

Key Highlights of the MoU

The agreement was formalised by Commander Shantanu Bose (IN Retd), Director (Shipbuilding) at GRSE, and Mr Karunakar Reddy Baddam, Managing Director of AMS Ltd, in the esteemed presence of Commodore P R Hari (IN Retd), Chairman and Managing Director of GRSE, and Subrato Ghosh, DIG (ICG Retd), alongside other senior officials.

Strengthening Indigenous Defence Capabilities

GRSE has made significant strides in advanced maritime technologies. The company recently delivered Jaldoot, an Autonomous Surface Vessel (ASV), to the Defence Research and Development Organisation (DRDO) and is set to deliver an Autonomous Underwater Vehicle (AUV) shortly. Additionally, GRSE has forayed into the production of Naval Surface Guns, with the Indian Navy placing orders for ten systems.

Share Price Performance 

On January 30, 2025, at 9:30 AM, Garden Reach Shipbuilders & Engineers Ltd shares traded at ₹1,537.95 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.