CLN Energy IPO subscribed over 2 times so far on Day 2: Check GMP, price band and other details

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The SME initial public offering (IPO) of CLN Energy was fully subscribed on Friday with an overall subscription of 2.09 times as of 11:30 AM on the second day of bidding. The company aims to raise Rs 72 crore through the SME IPO, with the shares set to list on the BSE SME platform.

The retail portion of the issue was subscribed by 2.82 times, while the issue was subscribed by 1.89 times in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had fully subscribed to their allotted portion with a 100% subscription.


CLN Energy IPO’s GMP on Day 2


In the unlisted market, CLN Energy doesn't have any GMP yet. This does not mean that the IPO has muted demand and it is entirely possible that there will be some grey market activity in the coming days.

CLN Energy IPO issue structure


CLN Energy IPO is a fresh equity sale of 28.92 lakh shares, and the issue will be available for bidding till January 27.

Proceeds from IPO


Net proceeds from the IPO will be used for purchase of machinery and equipment, funding of working capital requirements and other general corporate purposes.

CLN Energy IPO price band


The price band for CLN Energy IPO is fixed at Rs 235-250 apiece, and investors can bid for 600 shares in one lot. In the public offer, 50% is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.

Listing and allotment date for the IPO


CLN Energy is likely to finalise the share allotment process for the IPO on January 28 and the listing date is scheduled for January 30.

CLN Energy IPO details


The company manufactures custom lithium-ion batteries, motors, and powertrain components for EVs, including controllers and converters. It offers B2B solutions for mobility and stationary applications under the brand.

The global lithium-ion battery market, valued at $54.4 billion in 2023, is expected to grow at a 20.3% CAGR through 2030, driven by rising EV registrations.

For the period ended September 2024, the company clocked revenue from operations of Rs 75 crore with a profit after tax (PAT) of Rs 4.63 crore.

IPO’s lead manager and registrar


Aryaman Financial Services is the book running lead manager of the CLN Energy IPO, while Bigshare Services is the registrar for the issue.

Also read | GB Logistics IPO opens for subscription. Check GMP, key dates, price band and other details

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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