CLN Energy IPO closes today; check subscription status, GMP, listing date

The three-day subscription window to bid for the CLN Energy IPO, which opened on Thursday, January 23, 2025, is set to close today, Monday, January 27, 2025

Customised lithium-ion batteries and motors maker CLN Energy's initial public offering (IPO), which opened for subscription on Thursday, January 23, 2025, is set to close today, Monday, January 27, 2025. CLN Energy IPO has garnered a decent response from investors, getting oversubscribed by 2.81 times by the end of the second day of subscription on January 24. 

CLN Energy seeks to raise Rs 72.30 crore from the public offering by divesting a fresh issue of 28,92,000 equity shares. The company has announced that it has already raised Rs 20.52 crore from anchor investors in the bidding concluded on January 22, 2025.  ALSO READ: Denta Water IPO allotment today

 

The public offering is available at a price band of Rs 235-250 apiece and a lot size of 600 shares. Accordingly, investors can bid for a minimum of 600 shares and in multiples thereof. The minimum amount of investment required by retail investors to bid for the CLN Energy IPO is Rs 1,50,000, whereas for a High Net-Worth Individual (HNI) it is Rs 3,00,000 for 2 lots or 1,200 shares.

 

Meanwhile, the unlisted shares of CLN Energy continue to trade flat at Rs 250 apiece in the grey markets, as per sources tracking unofficial market activities. Thus, the grey market premium (GMP) for CLN Energy IPO stands at nil as of Monday, January 27, 2025.

 

Bigshare Services serves as the registrar for the issue. Aryaman Financial Services is the sole book-running lead manager of the CLN Energy IPO.

 

CLN Energy proposes to utilise the net proceeds from the issue towards funding the purchase of machinery and equipment and funding working capital requirements. The company will further use the proceeds for general corporate purposes.

 

As the public offering closes today, the basis of allotment for CLN Energy IPO shares is likely to be finalised on Tuesday, January 28, 2025. Successful allottees will receive shares in their demat accounts by Wednesday, January 29, 2025.

 

CLN Energy shares are scheduled to be listed on the BSE SME on Monday, January 20, 2025.

 

CLN Energy is engaged in the manufacturing of customised lithium-ion batteries, motors, and deals in powertrain components of electric vehicles such as controllers, throttles, DC-DC converters, displays, differentials, etc. The company offers B2B solutions for both mobility applications such as electric two, three, and four-wheelers, including traction applications, as well as stationary applications such as solar, ESS, and telecommunications.

 

Presently, the company operates two manufacturing facilities: one located in Noida, Uttar Pradesh, and the other in Pune, Maharashtra. CLN Energy has in-house R&D capabilities to design and integrate various powertrain and power systems to offer complete solutions for mobility and energy storage applications like UPS, Telecom, etc.