CLN Energy IPO allotment today; check status, GMP, listing schedule

CLN Energy IPO allotment status: The basis of allotment for shares of CLN Energy is expected to be finalised today, January 28, 2025, following the closure of its initial public offering (IPO) subscription window. Rs 72.30 crore SME IPO, consisting entirely of a fresh issue of 2.89 million equity shares, was priced in a band of Rs 235-250 per share, with a minimum lot size of 600 shares.

 

The public offering was oversubscribed by 5.42 times by the end of the subscription period.

 

How to Check CLN Energy IPO allotment status?

Once the basis of allotment for CLN Energy IPO shares is finalised, investors who applied for the public offering can check the allotment status on the official websites of BSE, and Bigshare Services, the registrar of the issue.

 

Investors can also use the following direct links to check the CLN Energy IPO allotment status:

 

Check CLN Energy IPO allotment status on BSE:

https://www.bseindia.com/investors/appli_check.aspx

 

Check CLN Energy IPO allotment status on Bigshare Services:

https://ipo.bigshareonline.com/IPO_Status.html

 

CLN Energy IPO grey market premium (GMP)

In the grey market, the unlisted shares of CLN Energy continue to trade flat at Rs 250 apiece, which is also the upper end of the IPO price band, according to sources tracking unofficial market activities. As a result, the grey market premium (GMP) for CLN Energy IPO stands at nil as of Tuesday, January 28, 2025. This indicates a potentially lackluster listing for the company’s shares on BSE SME, scheduled for Thursday, January 30, 2025.

 

However, it is worth noting that GMP trends in unregulated grey markets may not accurately predict listing performance. Consequently, actual results may differ from projections.

 

CLN Energy IPO objective

As outlined in the company’s Red Herring Prospectus (RHP), CLN Energy will utilise the net proceeds from the issue to fund the purchase of machinery and equipment and working capital requirements. Additionally, the proceeds will be used for general corporate purposes.

 

About CLN Energy

CLN Energy is a manufacturer of customized lithium-ion batteries and motors for electric vehicles. The company offers B2B solutions for mobility applications such as electric two-wheelers, three-wheelers, and four-wheelers, including traction applications, as well as stationary applications like solar, ESS (Energy Storage Systems), and telecommunications. CLN Energy operates two manufacturing facilities located in Noida and Pune, Maharashtra. Its products are sold under the ‘CLN Energy’ brand.