India Pesticides IPO allotment status: The initial public offering (IPO) of India Pesticides (IPL) was subscribed 29.04 times over the 1.93 crore shares that were on offer during the subscription period from June 23-25, 2021. The price band was fixed at Rs 290-296 per share.
India Pesticides IPO received bids of over 56.07 crore (56,07,48,250) shares against the total issue size of over 1.93 crore (1,93,10,345) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 42.95 times, while those of non institutional investors was subscribed 51.88 times and that of retail individual investors (RIIs) was subscribed 11.30 times, the data showed.
The Uttar Pradesh-based firm is an R&D-focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. The funds raised through the IPO will be used towards funding the working capital requirements and general corporate purposes.
Investors are now looking forward to the share allotment date of the India Pesticides IPO. The dairy firm was initially supposed to finalise the allotment by Wednesday, June 30, 2021, as per the timeline provided in the red herring prospectus. However, the registrar’s website now shows that the shares will be allotted on Thursday, July 1, 2021. In case you have applied for the India Pesticides IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select INDIA PESTICIDES LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select INDIA PESTICIDES LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of India Pesticides is likely to take place on Monday, July 5, 2021, on both the NSE and BSE. The issue size of the IPO was Rs 800 crore.
Axis Capital and JM Financial were the book-running lead managers to the offer.