Chamunda Electricals IPO subscribed over 28 times so far on Day 2: Check GMP, price band and other details
Chamunda Electricals was fully subscribed on Wednesday with an overall subscription of 28.5 times as of 12:22 pm on the second day of bidding. The IPO, a book-built issue of Rs 14.60 crores, offering a fresh issue of 29.19 lakh shares, will be available for investors to bid till February 6.
The retail portion of the issue was subscribed 43.2 times, while the issue was subscribed 24.1 times in the non-institutional investors’ category on the second day of bidding. Meanwhile, the qualified institutional buyers had subscribed by 6.02 times the allotted portion.
Chamunda Electricals IPO’s GMP on Day 2
Ahead of listing, the company's shares were trading at a grey market premium (GMP) of Rs 13 in the unlisted market on Wednesday, reflecting a 26% premium over the upper end of the IPO price band of Rs 50.
Proceeds from the IPO
The net proceeds from the IPO will be allocated for capital expenditure to acquire new testing kits and equipment, support working capital, repay debt, and fund other general corporate purposes.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
