India Pesticides has finalised the share allotment of its Rs 800-crore IPO on 1 July 2021. The public issue was subscribed 15 times and was sold in a price band of Rs 290-296 per share. In the grey market on Thursday, India Pesticides shares were quoting at a premium of Rs 33 over the issue price. The shares were trading at Rs 329 apiece, implying a premium of over 11 per cent, over the IPO price, according to the people who deal in shares of unlisted companies. India Pesticides is expected to make its stock market debut on 5 July 2021. According to India Pesticides RHP, the initiation of refunds or unblocking of funds from ASBA accounts will take place on Thursday. While the equity shares will be credited to depository accounts on 2 July 2021.
Before heading into the IPO, India Pesticides raised Rs 240 crore from 16 anchor investors in lieu of 81.08 lakh equity shares at Rs 296 each. Investors who had applied for the IPO, can check their application status on the registrar (KFin Technologies Private Ltd) and BSE’s websites. KFin Technologies is a SEBI-registered entity, responsible for the IPO allotment and refund processing. India Pesticides is well-positioned in the business which is reflected in its financial performance, said an analyst. “There is a possibility that the stock may list around Rs 320-350 which may look marginal given the combination of reasonable valuations and growth. However, it would be interesting to watch how the market assigns the value post listing,” Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares, told Financial Express Online.
How to check India Pesticides share allotment status via KFin Tech Private Ltd website
Investors can check the allotment status on KFin Technologies website under the ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/). After that, select the IPO and enter either your application number or DPID/Client ID or PAN. In the case of the application number box, select the application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit. This will show the number of shares that have been applied and allotted to the investor.
Check India Pesticides share allotment status via BSE website
Another way to check the allotment status in India Pesticides is through the BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘India Pesticides Limited’ from the drop-down list. After that enter the application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.
(The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)