Chamunda Electricals IPO opens on February 4 with price band set at Rs 47- Rs 50 per share
The company is aiming to raise Rs 14.60 crore via a fresh issue of 29.19 lakh shares.
GYR Capital Advisors Private Limited is the book-running lead manager of the Chamunda Electricals IPO, while Kfin Technologies Limited is the registrar for the issue.
The proceeds will be utilised to meet the capital expenditure for the purchase of new testing kits and equipment, along with funding working capital requirements of the company, repayment of term loans and cash credit, to meet general corporate purposes and the issue expenses.
Founded in June 2013, Chamunda Electricals Limited specializes in operating and maintaining up to 66 KV substations, testing and commissioning for up to 220 KV substations, and 1.5 MW solar power generation.
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