The issue opened for bidding on Tuesday (04 February 2025) and it will close on Thursday (06 February 2025). The price band of the IPO is fixed between Rs 47 to Rs 50 per share. The minimum order quantity is 3,000 equity shares. The equity shares will list on NSE’s SME platform.

The IPO comprises fresh issue of 20,97,000 equity shares. About 2,33,600 equity shares will be reserved for subscription by market makers to the issue. The net issue comprises of 18,63,400 equity shares.

The company intends to utilize the net proceeds to meet out the capital expenditures for the purchase of new testing kits and equipment, funding the working capital requirements, repayment of term loans and cash credit, to meet out the issue expenses and general corporate purposes.

Ahead of the Chamunda Electrical on Monday, 03 February 2025, raised Rs 4.11 crore from anchor investors. The board allotted 8,22,000 lakh shares at Rs 50 per share to 3 anchor investors.

Chamunda Electrical engaged in the business of providing specialized services in the operation and maintenance of substations up to 66 KV, along with the testing and commissioning of electrical substations up to 220 KV. The company is also involved in solar power generation, specifically operating a park with a capacity of 1.5 MW. Their scope of work includes the erection of EHV-class equipment, structures, earthing, control cable installation, and other associated tasks for substations up to 220 KV (D Class). Over the years, the company has developed deep expertise in creating solutions and service offerings across these business areas. As of 31 December 2024, the company has 637 permanent employees.

The company recorded revenue from operations of Rs 18.29 crore and net profit of Rs 2.81 crore for the period ended 31, December 2024.