Share allotment by Paras Defence and Space Technologies was finalised on September 28.
How to check allotment status
Investors can check the share allotment status either on the BSE website or on the IPO registrar's website.
On the BSE website, investors need to follow these steps:
a) Select issue type "Equity" and issue name "Paras Defence and Space Technologies Limited".
b) Enter Application Number and PAN.
c) Finally check box "I'm not a robot" and click on Search.
Alternatively, the allotment can also be checked on the website of the IPO registrar:
a) Select either PAN, Application Number or DP Client ID.
b) Select "Paras Defence and Space Technologies Limited – IPO."
c) Enter either PAN, Application Number or DP Client ID.
d) Finally click on Search button, to know the allotment status.
Investors not allotted the shares will get the refund in their bank accounts by September 29, while those allotted will get the shares in their demat accounts by September 30.
Trading will commence from October 1, as per the schedule available in the prospectus.
The IPO, though small in size, saw overwhelming response from Day One of bidding (September 21). On the final day (September 23), it was subscribed 304.26 times -- the highest among IPOs, at least since 2007.
The offer received bids for more than 217.26 crore equity shares against the IPO size of 71.4 lakh shares, garnering bids worth Rs 38,021 crore, against the issue size of Rs 170.78 crore. The price band was fixed at Rs 165-175 per share.
Qualified institutional buyers (QIBs) had put in bids 169.65 times the portion set aside for them, and non-institutional investors bought 927.70 times of their reserved portion.
Retail investors subscribed for 112.81 times their portion.
The IPO comprised a fresh issue of Rs 140.6 crore and an offer for sale of up to 1.72 million shares by promoters Sharad Virji Shah and Munjal Sharad Shah, and individual shareholders Ami Munjal Shah, Shilpa Amit Mahajan and Amit Navin Mahajan.
The company will utilise the net proceeds from the fresh issue for purchasing machinery and equipment, incremental working capital requirements, repayment of certain borrowings and general corporate purposes.