Indian Phosphate IPO Allotment: The initial public offering (IPO) of Indian Phosphate Ltd ended with strong subscription. As the bidding period has ended, investors now await the Indian Phosphate IPO allotment which is expected to be finalised today.
Indian Phosphate IPO allotment date is August 30 and the listing date is September 3. Indian Phosphate IPO is an SME IPO and the equity shares of the company will be listed on NSE SME.
The company is expected to fix the basis of allotment today. It will credit the shares into the demat accounts of eligible investors on September 2 and initiate refunds to the unsuccessful bidders on the same day.
Indian Phosphate IPO allotment status can be checked online through the website of NSE or the official portal of IPO registrar. Bigshare Services Pvt Ltd is the Indian Phosphate IPO registrar.
Investors can check their Indian Phosphate IPO allotment status online by following few steps mentioned below:
Step 1] Visit IPO registrar’s website on this link -https://ipo.bigshareonline.com/ipo_status.html
Step 2] Select ‘Indian Phosphate Limited’ in the Company Selection dropdown menu
Step 3] Choose among Application No., Beneficiary Id and PAN in the Selection Type
Step 4] Enter the details as per the option selected
Step 5] Enter the Captcha code and click on Search
Your Indian Phosphate IPO allotment status will be displayed on the screen.
Indian Phosphate shares are trading at a strong premium in the unlisted market. Indian Phosphate GMP today, or grey market premium today, is ₹100 per share. This indicates that Indian Phosphate shares are trading higher by ₹100 in the grey market than their issue price.
Considering the Indian Phosphate IPO GMP today and the issue price, the estimated Indian Phosphate IPO listing price is ₹199 apiece, which is at a premium of 101.01% to the IPO price of ₹99 per share.
Indian Phosphate IPO opened for subscription on August 26 and closed on August 29. The Indian Phosphate IPO allotment date is today, August 30, and the IPO listing date is September 3. The equity shares of Indian Phosphate will be listed on NSE SME.
Indian Phosphate IPO price band was set at ₹94 to ₹99 per share. At the upper-end of the price band, the company raised ₹67.36 crore from the book-built issue which was entirely a fresh issue of 68.04 lakh equity share.
The company plans to use the net issue proceeds for setting up a new manufacturing facility, meet working capital requirements and for general corporate purposes.
Indian Phosphate IPO has been subscribed 267.89 times in total. The public issue received 243.02 times subscription in the retail category, and 181.58 times subscription in the Qualified Institutional Buyers (QIB) category. The Non-Institutional Investors (NII) portion was booked 441.01 times.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Indian Phosphate IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
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