Share allotment by Paras Defence and Space Technologies, after the initial public offering (IPO), will be finalised today, 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.
Paras Defence shares were available at Rs 420-445 in the grey market, which is a premium of Rs 245-270, or 140-154 percent, over the expected final issue price of Rs 175 per share, IPO Watch and IPO Central data showed.
Grey market is an unofficial platform where the trading starts in shares at the time of IPO price band announcement and the same continues till listing of shares.
Paras Defence designs, develops, manufactures and tests the defence and space engineering products and solutions, catering to five major defence segments - space optics, defence electronics, electromagnetic pulse (EMP) protection solution, heavy engineering, and niche technologies.
The Rs 170.77-crore public issue was subscribed 304.26 times during September 21-23, the highest subscription among IPOs, at least since 2007. The offer garnered bids worth Rs 38,021 crore.
Among investors, qualified institutional buyers (QIBs) bought 169.65 times of their reserved portion, and non-institutional investors had put in bids 927.70 times the portion set aside for them. Retail investors subscribed for 112.81 times their portion.Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.