The CLN Energy IPO, which aims to raise Rs 72 crore, launched for subscriptions earlier today. The issue will remain open until January 27, offering an entirely new equity sale of 28.92 lakh shares. The proceeds from this IPO will be used for purchasing machinery and equipment, fulfilling working capital requirements, and other general business purposes.
CLN Energy IPO Grey Market Premium
Before the IPO opened, CLN Energy had no Grey Market Premium (GMP), according to various GMP tracking websites. However, this doesn’t indicate lack of interest. It’s likely that the grey market activity will increase in the coming days as the IPO continues.
CLN Energy IPO Details
CLN Energy specializes in manufacturing lithium-ion batteries, motors, and powertrain components for electric vehicles (EVs), including controllers and converters. The company primarily offers B2B solutions for both mobile and fixed applications.
The global lithium-ion battery market was valued at $54.4 billion in 2023 and is expected to grow at a 20.3% compound annual growth rate (CAGR) through 2030, driven by the increasing number of EV registrations.
For the fiscal year ending September 2024, CLN Energy has projected revenues of Rs 75 crore from its operations, with a profit after tax (PAT) of Rs 4.63 crore.
CLN Energy IPO Price Band
The IPO allows investors to bid for 600 shares per lot within a price range of Rs 235–250 per share. The offering is split into three categories: 50% of the issue is allocated to Qualified Institutional Buyers (QIBs), 35% to retail investors, and 15% to non-institutional investors.
CLN Energy IPO Allotment and Listing Dates
The share allotment for CLN Energy is expected to be completed on January 28, with the stock listing slated for January 30.
Disclaimer:
The information provided in this article is intended for informational purposes only and should not be construed as investment advice. CoreStory does not endorse or recommend any specific IPO or investment opportunity. Readers are strongly advised to consult with a qualified financial advisor or investment professional before making any investment decisions. The performance of IPOs is subject to market risks, and past performance does not guarantee future results.
