The allotment process for Shubhshree Biofuels Energy IPO is scheduled to be finalized today. Investors can check their allotment status through the registrar, Bigshare Services.
The IPO, which was open for subscription from September 9 to September 11, saw an impressive response from investors, being oversubscribed by 132 times. Specifically, the non-institutional investor (NII) segment was oversubscribed 245 times, while the retail portion was oversubscribed 135 times. The issue price ranged between ₹113 and ₹119 per share.
Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on September 13, 2024.
Shares that are allotted will be credited to investors' demat accounts on the same day as the refunds. The SME IPO is anticipated to be listed on the NSE SME platform around September 16, 2024.
The company plans to use the proceeds from the IPO for funding capital expenditure for additional plant and machinery, meeting working capital needs, and general corporate purposes.
Step 1: Please visit the following link: https://ipo.bigshareonline.com/ipo_status.html to input your login details for the Shubhshree Biofuels Energy IPO allotment.
Step 2: Choose the 'Shubhshree Biofuels Energy' from the company list.
Step 3: Please select either 'PAN Number, Beneficiary ID, or Application No/CAF No.'
Step 4: Click on ‘Search.’ Your Shubhshree Biofuels Energy IPO will appear on your computer monitor or the display of your cell phone.
The company is engaged in the business of supplying of biomass fuels, which include biomass pellets and briquettes. These biomass fuels are an alternative source of energy that are basically used in commercial and industrial heating, cooking fuel, industrial burning, and electricity generation as an alternative to fossil fuels like coal, firewood, lignite,Agri-waste etc.
The briquettes are mostly used for industrial purposes like running boilers, etc., and the pellets are mostly used as cooking fuel or for commercial purposes.
It is currently selling these pellets and briquettes to customers who are engaged in the business of recycling material, textile processing, pharmaceuticals, metal, etc.
Today, the grey market premium (GMP) for the Shubhshree Biofuels IPO is reported at ₹0 per share, suggesting that the shares are anticipated to list flat. The GMP represents the gap between an IPO’s issue price and its expected unofficial market price, reflecting investor sentiment and demand prior to the official trading debut.
However, it is crucial to recognize that GMP is merely an initial indicator of the potential listing price and should not be relied upon exclusively for making investment decisions.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
