CLN Energy Ltd
CLN Energy Limited, established in 2019, is set to launch its Initial Public Offering (IPO) on January 23, 2025. The company specializes in manufacturing customized lithium-ion batteries, motors, and powertrain components for electric vehicles (EVs), including controllers, throttles, DC-DC converters, displays, and differentials. Additionally, CLN Energy offers B2B solutions for stationary applications such as solar energy storage systems (ESS) and telecommunications.
Company Overview
With state-of-the-art manufacturing facilities in Noida and Pune, CLN Energy is ISO certified with QMS 9001:2015, EMS 14001:2015, and OHSAS 45001:2018 certifications. The company markets its products under the “CLN Energy” brand and has an in-house Research and Development team dedicated to providing customized solutions. As of September 30, 2024, CLN Energy employed 155 permanent employees and 286 contract-based employees.
IPO Timeline
The CLN Energy IPO will open for subscription on January 23, 2025, and close on January 27, 2025. The allotment is expected to be finalized on January 28, 2025, with shares credited to demat accounts by January 29, 2025. The company is scheduled to list on the BSE SME platform on January 30, 2025.
Price Band and Lot Size
The IPO price band is set between ₹235 to ₹250 per equity share, with a face value of ₹10 per share. Investors can bid for a minimum lot size of 600 shares, amounting to a minimum investment of ₹1,50,000. Retail investors can apply for up to 1 lot, while High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (1,200 shares) amounting to ₹3,00,000.
Key Dates
| Event | Date |
|---|---|
| IPO Opening Date | January 23, 2025 |
| IPO Closing Date | January 27, 2025 |
| Basis of Allotment Finalization | January 28, 2025 |
| Initiation of Refunds | January 29, 2025 |
| Credit of Shares to Demat | January 29, 2025 |
| Listing Date | January 30, 2025 |
Financials
| Financial Year | Revenue (₹ Crores) | Profit After Tax (₹ Crores) |
|---|---|---|
| 2021-2022 | 121.70 | 3.64 |
| 2022-2023 | 128.88 | 0.73 |
| 2023-2024 | 132.86 | 9.79 |
| H1 2024-2025 | 75.84 | 4.64 |
Strengths
- Advanced manufacturing facilities in Pune and Noida.
- Experienced team of professionals.
- Long-term relationships with customers.
- In-house Research and Development team.
- Consistent financial performance.
Risks
- Dependence on the EV and energy sectors for business growth.
- High competition in the EV components manufacturing market.
- Limited global presence compared to larger industry players.
- Potential reliance on raw material imports impacting costs.
- Employee mix of contract and permanent staff may affect organizational consistency.
IPO Anchor Investors Details
CLN Energy IPO has raised ₹20.52 crore from anchor investors. The anchor bid date was January 22, 2025, with 8,20,800 shares offered. The anchor lock-in period ends on February 27, 2025, for 50% of the shares and on April 28, 2025, for the remaining shares.
IPO Promoter Holding
| Promoter | Pre-Issue Holding | Post-Issue Holding |
|---|---|---|
| CLN Energy Pte. Ltd. | 99.99% | 72.54% |
| Rajiv Seth | – | – |
IPO Grey Market Premium (GMP)
As of January 20, 2025, the Grey Market Premium for CLN Energy IPO was ₹15 per share. Please note that GMP is subject to change and should not be solely relied upon for investment decisions.
Final Thoughts
CLN Energy Limited’s IPO presents an opportunity to invest in a company operating in the rapidly growing electric vehicle and energy storage sectors. With a strong financial track record, advanced manufacturing capabilities, and a focus on innovation, CLN Energy is well-positioned for future growth. However, potential investors should consider the associated risks and conduct thorough research before making investment decisions.