Kolkata: Chamunda Electricals IPO has triggered big investor response on the very first day of bidding which began on Tuesday, February 4. The SME issue was overall subscribed 15.45 times — a huge 24.28 times in the retail category, 6.02 times in QIB and 7.4 times in the NII category by the end of the first day of the bidding process.

The issue is a book-built one designed to raise Rs 14.60 crores from the market. It consists entirely of fresh issue of 29.19 lakh shares. The price band of Chamunda Electricals is Rs 47-50. The GMP of Chamunda Electricals IPO which stood rock steady at Rs 11 for a few days climbed up to Rs 13 a listing gain of 26%. Bidding for the issue is set to close on February 6 and the allotment of shares will take place on February 7.

According to investorgain, Chamunda........

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