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The scrip was listed at 256, at a premium of 2.4% compared with the initial public offer (IPO) price. The counter hit a high of Rs 268.80 and a low of Rs 252.50. About 4.52 lakh shares of the company changed hands at the counter. CLN Energy's IPO was subscribed 5.09 times.. The issue opened for bidding on 23 January 2025 and it closed on 27 January 2025. The price band of the IPO was set at Rs 235 to Rs 250 per share. The IPO comprised fresh issue of 20,71,200 equity shares. The promoter and promoter group shareholding diluted to 72.54% from 99.99% pre-issue. The company intends to utilize the net proceeds to meet working capital requirements, purchase of machinery and equipment and general corporate purposes. Ahead of the CLN Energy on 22 January 2024, raised Rs 20.52 crore from anchor investors. The board allotted 8.20 lakh shares at Rs 250 per share to 3 anchor investors. CLN Energy specializes in the manufacturing of customized lithium-ion batteries, motors, and powertrain components for electric vehicles, including controllers, throttles, DC-DC converters, displays, and differentials. The company provides B2B solutions for a variety of applications, including electric two, three-, and four-wheelers, with a focus on traction applications, as well as stationary solutions for solar, energy storage systems (ESS), and telecommunications. Additionally, CLN Energy offers tailored solutions for diverse applications where lithium-ion battery packs are utilized. The company's products, including lithium-ion battery packs, motors, and powertrain components, are sold under the CLN Energy brand. As on 30 September 2024, the company had 155 employees on payroll and 286 employees on contract basis. The company recorded revenue from operations of Rs 74.82 crore and net profit of Rs 4.63 crore for the period as of 30 September 2024. Powered by Capital Market - Live News |