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
- 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.
- 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:
- A portion of the net proceeds will be used for investment in new testing kits and equipment to improve service quality and operational efficiency.
- The funds will also support working capital needs, ensuring smooth business operations and future growth.
- A portion of the proceeds will be used to repay term loans and cash credit, reducing financial liabilities and improving stability.
- 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:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Chamunda Electricals IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Chamunda Electricals IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- 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 |
|
Anchor Investor Shares Offered |
8,22,000 (28.16%) |
|
Market Maker Shares Offered |
1,65,000 (5.65%) |
|
QIB Shares Offered |
5,52,000 (18.91%) |
|
NII (HNI) Shares Offered |
4,14,000 (14.18%) |
|
Retail Shares Offered |
9,66,000 (33.09%) |
|
Total Shares Offered |
29,19,000 (100%) |
Chamunda Electricals IPO Anchor Investors Details
|
Bid Date |
February 3, 2025 |
|
Shares Offered |
8,22,000 |
|
Anchor Portion Size (In Cr.) |
4.11 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
March 9, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
May 8, 2025 |
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
- Contact Number: 04067162222, 04079611000
- Email Address: cel.ipo@kfintech.com
Chamunda Electricals IPO Registrar
Financial Performance of Chamunda Electricals Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 1,994.93 | 1,394.24 |
| Profit After Tax (PAT) (in ₹ lakh) | 243.63 | 31.21 |
| EPS (Earnings per Share in ₹) | 3.69 | 0.47 |
| Total Borrowings (in ₹ lakh) | 460.84 | 368.55 |
| Return on equity (%) | 52.43 | 9.54 |
| Return on capital employed (%) | 36.82 | 12.04 |
| EBITDA (in ₹ lakh) | 471.58 | 178.42 |
| Current Ratio (x) | 1.19 | 1.02 |
Know before investing
Strengths
8Chamunda Electricals Limited has over a decade of experience in executing complex power sector projects.
Strong promoters and an experienced board provide strategic direction and industry expertise.
Advanced testing and commissioning equipment ensure precision and reliability in power solutions.
A scalable business model with operations across 77 substations strengthens market presence.
Expansion into EHV testing and commissioning unlocks new market opportunities.
Investment in NABL-certified labs enhances testing capabilities and attracts high-value contracts.
Geographical expansion and customer diversification reduce dependency on specific markets.
Operational efficiency improvements drive profitability and optimise resource utilisation.
Risks
8Over 85% of revenue comes from electrical substation projects, posing concentration risk.
Top 10 customers contributed 100% of revenue, increasing dependency on key clients.
Business heavily relies on government tenders, making revenue uncertain.
Intense competition in bidding may impact contract awards and profitability.
Working capital-intensive operations face risks from delays and cost overruns.
Failure to renew required permits and licenses may disrupt operations.
Loss of key management personnel could impact business continuity.
Over 85% of revenue comes from Gujarat, making regional risks significant.
