CLN Energy IPO subscribed overall 5.42 times on the last day, while A retail quota subscribed 6.55 times, QIB quota subscribed 1.07 times, and NII quota subscribed 8.6 times respectively.
Details About CLN Energy
CLN Energy got approval from SEBI for an IPO of ₹72.30 crores via IPO that comprises a fresh issue of ₹72.30 crores to raise funds and maintain financial stability. The face value of each share was Rs 10. Moreover, the company has set up a price band between ₹235 to ₹250 per share. In this IPO total of 600 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 600 shares in 1 lot size, while HNI total of 1200 shares in 2 lot size.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹1,50,000 and maximum investment of ₹1,50,000.
- Small HNI (S-HNI): Minimum investment of ₹3,00,000.
Subscription duration of CLN Energy
The opening date of the CLN Energy IPO subscription was January 23, 2025, and the closing date was January 27, 2025. The CLN Energy Services IPO allotment was finalized on January 28, 2025, and the IPO listing is on January 30, 2025.
Funds Deployment of This Company
The company plans to use the money raised from the new shares for the following purposes:
- The company will utilize the raised funds for the Purchase of machinery and equipment
- They will make use of their funds for the company’s Working capital requirements.
- At last, the remaining funds will go to the company’s General Corporate Purposes.
About CLN Energy IPO
One of the growing companies, CLN Energy Limited incorporated in 2019 is renowned for manufacturing electric components while offering high-quality solutions regarding electric vehicles & stationary applications like energy storage systems and telecommunications. CLN Energy started its business by manufacturing lithium-ion batteries and motors, and over the years, they expanded its business by selling electric vehicles such as DC, DC converters, displays, and differentials. Moreover, the company decided to expand its business by providing international and national-level services to provide quality services and products to its clients. Noida (42,000 sqft) and Pune (20,000 sqft) are some of the areas where they have established their manufacturing facilities in India having annual capacity is over 1GWh of battery packs and 120,000 motors for L2, L3, and L5 vehicles.
CLN Energy IPO Financial Background
In FY2024, CLN Energy generated a revenue of ₹132.86 crore compared to ₹128.88 crore in 2023. Whereas in 2024, the company generated a profit of ₹9.79 crores in 2024 compared to a profit of ₹0.73 crores in 2023.