Chamunda Electrical IPO Review, Price, Date & GMP Details

Chamunda Electricals IPO-Complete Overview

Chamunda Electricals IPO under the SME IPO category is a book build issue of Rs.14.60 Cr (29.19 lac Shares) by Chamunda Electricals Limited, which was incorporated in June 2013. The firm commenced its business activities from very low operational voltage levels, extending them to the maintenance of 66 KV electrical substations and testing and commissioning of substations up to 220 KV along with solar power generation for 1.5 MV.

It comprises a team of more than 600 engineers, supervisors, and other auxiliary staff who are trained to execute complex projects with a high degree of precision.

Chamunda's businesses can be defined into the following 'Business Units': 

• The operation, maintenance, testing, and commissioning of Electrical substation systems and equipment.

• Construction of solar power generation parks.

• Commissioning and Installation of electrical equipment up to 220 kV.

 

Chamunda Electricals IPO Overview

This Chamunda Electricals IPO date is 04 February 2025, and its ‘initial public offering’ will end on 06 February 2025.    

This Rs.14.60 crore new SME IPO comprises a wholly fresh issue of 29.19 lac Shares. 

This upcoming IPO date is on 04 Feb 2025. The Chamunda Electricals IPO Price is Rs.47 to Rs.50 for each Share. 

The expected IPO listing date is 11 Feb 2025, and the listing at NSE and SME.

The GMP of current IPOs can be viewed on our Live IPO GMP page, where you can get SME IPO GMP and current SME IPO GMP of all open IPOs.

The SME IPO GMP Today can also be viewed on the above link.

Click to open a Demat account  and apply for the IPO.

 

Company Financial

(Amount in Cr)

Period	31 Mar 2024	31 Mar 2023	31 Mar 2022
Total Assets	12.13	8.71	8.74
Total Revenue	20.07	14.01	11.32
PAT	2.44	0.31	-0.51
Net Worth	5.86	3.43	3.12
Reserves & Surplus	3.86	1.43	1.12
Borrowings	4.61	3.69	4.65

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in lac)

Net Cash Flow In Multiple Activities	31 Mar 2024	31 Mar 2023	31 Mar 2022
Net Cash Flow Operating Activities	172.78	209.63	(239.02)
Net Cash Flow Investing Activities	(124.92)	(60.29)	(110.74)
Net Cash Flow Financing Activities	48.45	(145.17)	356.83

 

Business-wise Revenue Breakdown 

(Amount in lac)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Operation, Maintenance,Testing and Commissioning of Electrical Sub-stations	1922.70	1293.58	1092.10
Solar Power generation plants	60.74	73.75	23.95
EHV class equipment erection and commissioning of Substations	11.49	26.91	7.26
Total	1,994.93	1,394.24	1,123.31

 

Operations-wise Revenue Breakdown 

(Amount in lac)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Government Bodies	1992.68	1394.24	1122.07
Private Sector	2.25	-	1.24
Total	1994.93	1394.24	1123.31

 

State-wise Revenue Breakdown 

(Amount in lac)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Gujarat	1708.42	1207.91	1123.30
Dadra and Nagar Haveli	286.51	186.33	-
Total	1994.93	1394.24	1123.30

 

(Source: RHP)

The Objective of The Issue

• To cover the capital cost of buying new testing supplies and equipment.

• Financing the business's operating capital needs.

• Repayment of cash credit and term loans.

• To cover the costs of the issue.

• General corporate purposes.

 Peers of Chamunda Electricals Ltd.

There are no listed companies in India engaged in the same business of comparable size.

Evaluation

The IPO price is Rs.47 to Rs.50 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs.3.73 from the last year, the resulting P/E ratio is 13.40x.

Considering the weighted EPS of Rs.1.89 for the last three years, the P/E ratio is 26.45x.

IPO's Strengths

• Strong execution capabilities with great industry experience spanning over decades.

• Strong promoters and board of directors supported by able senior management.

• Modern machinery and a competent manual workforce for precision work.

• Scalable business with a huge work order book.
  
  

IPO’s Weaknesses

• Dependence on Government Contracts: This company has a very heavy reliance on the government sector for its operation. A significant ratio of non-accepted or non-awarded bids could negatively influence revenues and profits.

• Working Capital Intensive Business: There is a risk to the company’s liquidity since everything depends on the ‘working capital’ being available-collection delays or cost surges would cause operational activities to ‘stop’ or be completed very late in the planned schedule.

• Customer Concentration Risk: The total sales revenue of the company relies entirely on a few customers. 100% of the revenue comes from ten customers. The loss of any key customers on their part or inability to perform in an expected manner will greatly affect business operations.

 

Chamunda Electricals IPO GMP 

Chamunda Electricals IPO GMP has not started yet as of 29 January 2025.

IPO Timetable (Tentative)

The IPO opening date is February 04, with allotment on February 07, refund initiation on February 10, and listing on 11 February 2025.

Events	Date
IPO Opening Date	Feb 04, 2025
IPO Closing Date	Feb 06, 2025
IPO Allotment Date	Feb 07, 2025
Refund Initiation	Feb 10, 2025
IPO Listing Date	Feb 11, 2025

Chamunda Electricals IPO Details 

The IPO with a Face Value of Rs.10 per share offers a total issue size of 29,19,000 Shares (Rs.14.60 Cr).

IPO Opening & Closing date	February 04, 2025 to February 06, 2025
Face Value	Rs.10 per Share
Issue Price	Rs.47 to Rs.50 per Share.
Lot Size	3000 Shares
Issue Size	29,19,000 Shares (Rs.14.60 Cr)
Offer for Sale	-
Fresh Issue	29,19,000 Shares (Rs.14.60 Cr)
Listing at	NSE, SME
Issue Type	Book-Built Issue IPO
Registrar	Kfin Technologies Limited

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (3000 Shares) amounting to Rs.1,50,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (6000 Shares) amounting to Rs.3,00,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

 

IPO Lead Managers

GYR Capital Advisors Private Limited.

Dividend Policy

The company has not declared a dividend since its inception.

Conclusion

Chamunda Electricals IPO presents a new issue of 14.60 crore. The company has execution capabilities, besides risks of customer concentration and delays in capital expenditures. Consideration of financials, growth prospects, and market risks is necessary before making an investment. 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

DISCLAIMER: This is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions. 

 

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