CLN Energy IPO: Check key dates, price band, GMP and other details

CLN Energy IPO, through which the company is raising around Rs 72 crore, opened for subscription earlier today. The issue, which is completely a fresh equity sale of 28.92 lakh shares, will be available for bidding till January 27.

Net proceeds from the IPO will be used for purchase of machinery and equipment, funding of working capital requirements and other general corporate purposes.

What is CLN Energy IPO price band

The price band for CLN Energy IPO is fixed at Rs 235-250 apiece, and investors can bid for 600 shares in one lot. In the public offer, 50% is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.

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Check GMP of CLN Energy IPO

In the unlisted market, CLN Energy doesn't have any GMP ahead of the issue opening. This does not mean that the IPO has muted demand and it is entirely possible that there will be some grey market activity in the coming days.

CLN Energy IPO details

The company manufactures custom lithium-ion batteries, motors, and powertrain components for EVs, including controllers and converters. It offers B2B solutions for mobility and stationary applications under the brand.
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The global lithium-ion battery market, valued at $54.4 billion in 2023, is expected to grow at a 20.3% CAGR through 2030, driven by rising EV registrations.

For the period ended September 2024, the company clocked revenue from operations of Rs 75 crore with a profit after tax (PAT) of Rs 4.63 crore.

Aryaman Financial Services is the book running lead manager of the CLN Energy IPO, while Bigshare Services is the registrar for the issue.

When is the allotment and listing date of CLN Energy IPO

CLN Energy is likely to finalise the share allotment process for the IPO on January 28 and the listing date is scheduled for January 30.

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