CLN Energy Ltd. was incorporated on October 1, 2019. The company specializes in manufacturing customized Lithium-ion batteries, motors, and powertrain components for electric vehicles, including controllers, throttles, DC-DC converters, and displays. It provides B2B solutions for mobility applications like electric two, three, and four-wheelers, as well as stationary applications in solar, energy storage systems (ESS), and telecommunications
| Bidding Dates |
|---|
| 23 Jan 2025 - 27 Jan 2025 |
| Subscription |
|---|
| 5.09x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,41,000 | 1 | 1 | 600 | 2.9 M | ₹235 - ₹250 | 72.6 % | ₹679.6 M - ₹723.0 M | RHP DOC |
CLN Energy Ltd. IPO SUBSCRIPTION STATUS
27 Jan '25CLN Energy Ltd. IPO overall subscription rate was 5.09 times the total available shares
CLN Energy Ltd. IPO retail subscription rate was 8.65 times in the retail segment
CLN Energy Ltd. IPO non-institutional investor subscription rate was 11.86 times in the non-institutional investor category
CLN Energy Ltd. IPO Qualified Institutional Bidder subscription rate was 0.57 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Jan 2025 (Day 3) | 8.65x | 11.86x | 0.57x |
24 Jan 2025 (Day 2) | 4.93x | 4.44x | 0.57x |
23 Jan 2025 (Day 1) | 2.59x | 3.21x | 0.53x |
CLN Energy Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 46.4 | 748.3 | -86.0 | -88.6 | 14.2% |
| FY24 | 97.9 | 1,327.1 | 67.7 | 21.1 | 14.1% |
| FY23 | 7.3 | 1,288.2 | 150.2 | 36.5 | 5.2% |
| FY22 | 36.4 | 1,216.9 | 79.3 | -13.6 | 5.2% |
CLN Energy Ltd. IPO SUBSCRIPTION STATUS DETAILS
CLN Energy Ltd. had 2.9 M shares on offer
CLN Energy Ltd. IPO offer price was in the range ₹235 - ₹250
CLN Energy Ltd. IPO minimum Investment was ₹141000
CLN Energy Ltd. IPO issue size was ₹ 679.6 M - ₹ 723.0 M
CLN Energy Ltd. had a minimum lot size of 600 Shares per application
CLN Energy Ltd. NUMBER OF SHARES ON OFFER
CLN Energy Ltd. IPO IMPORTANT DATES
| Issue Open Date | 23 Jan 2025 |
| Issue close Date | 27 Jan 2025 |
| Allotment Date | 28 Jan 2025 |
| Refund Date | 29 Jan 2025 |
| Demat Account Credit Date | 29 Jan 2025 |
| Listing Date | 30 Jan 2025 |
| Listing on Exchange(s) | BSE |
| CLN Energy Ltd. Allotment Status | Exchange |
CLN Energy Ltd. IPO subscription opened on 23 Jan 2025, and closed on 27 Jan 2025
IPO allotment for CLN Energy Ltd. was finalized on Tuesday, 28 Jan 2025
IPO listing for CLN Energy Ltd. was on BSE on Thursday, 30 Jan 2025
CLN Energy Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 250.0 |
| Listing Open Price | 256.0 |
| Listing Close Price | 254.2 |
| Listing Gain% | 2.4% |
| Current Gain% | 91.8% |
CLN Energy Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CLN Energy Ltd. | 479.6 | 506.1 | 24.6 | 1.4 | 17.9 | 8 | 351.3 | 20.5 | 19.5 | ||||
| Havells India Ltd. | 1285 | 80562 | 49.3 | 3.1 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2701 | 77694.6 | 20.4 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16448 | 66094.1 | 55.9 | 1.6 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1044.1 | 47397.1 | 28.5 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 38035 | 33628.6 | 61 | 7.9 | 7.2 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
CLN Energy Ltd. INFORMATION ON IPO ISSUE
About CLN Energy Ltd.
CLN Energy Ltd. was incorporated on October 1, 2019. The company specializes in manufacturing customized Lithium-ion batteries, motors, and powertrain components for electric vehicles, including controllers, throttles, DC-DC converters, and displays. It provides B2B solutions for mobility applications like electric two, three, and four-wheelers, as well as stationary applications in solar, energy storage systems (ESS), and telecommunications
Object of the Issue
- Purchase of machinery and equipment
- Funding working capital requirements
- General corporate purposes
CLN Energy Ltd. - PROMOTERS
| Name |
|---|
| Rajiv Seth |
| CLN ENERGY PTE. LTD |
CLN Energy Ltd. Lead Manager of the Issue
Aryaman Financial Services Limited
ipo@afsl.co.in
CLN Energy Ltd. Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
CLN Energy Ltd. Strengths
State-of-the-art manufacturing facilities
The company operates two manufacturing facilities located in Noida and Pune, equipped with an in-house R&D lab, laser welding machines, automatic welding, cell grading machines, and end-of-line testing. Both facilities are recognized as Custom Bonded Warehouses under the MOOWR Scheme by the Customs Department
Research and development team
The company prioritizes innovation, investing heavily in R&D to develop new solutions, enhance existing products, and offer customer-specific customizations. This focus aims to improve product performance and maintain a competitive edge in the market
Manufacturing customised products
The company offers tailored solutions for customers requiring lithium-ion batteries with specific power capacities. Each requirement undergoes research, design, prototyping, and validation to meet the customer’s exact needs
CLN Energy Ltd. Risks
Dependent on batteries sales
A major portion of the company’s revenue comes from the sale of batteries, cells, motors, and controllers. A decline in demand or production of these products could negatively impact its business, operations, and financial health
Agreement risks
The company has no formal agreements with machinery and equipment suppliers for the specified objectives of the Issue. The allocation for these purchases is based on quotations received from suppliers
Dependent on third party vendors
The company relies on a few suppliers for raw materials, and any significant disruption in their timely or adequate supply could negatively impact its operations, financial performance, and overall business
IPO FAQs
The promoters of the company are Rajiv Seth and CLN ENERGY PTE. LTD.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 235.0 - 250.0.
The IPO application opens on Jan 23, 2025 and closes on Jan 27, 2025.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 141,000.0, the maximum value for this IPO is Rs 150,000.0.
This IPO will be allotted on Jan 28, 2025.
The refund will be credited to your account on Jan 29, 2025.
The allotted shares will be credited to your demat on Jan 29, 2025.
CLN Energy Ltd.’s shares listed on the stock exchanges on Jan 30, 2025.