After closing the public issue last week, road construction company Udayshivakumar Infra is going to finalise its share allotment, which is eagerly awaited by investors, on March 28. The participants can check their application status either on the BSE portal or the website of the IPO registrar by following a few simple steps.
On the IPO registrar portal,
a) Select and accordingly enter "DPID/Client ID" or "PAN"
b) Finally click on the "Search" button
Alternatively, on the BSE website,
a) Select issue type "Equity" and issue name "Udayshivakumar Infra Limited"
b) Enter either "Application number" or "PAN"
c) Check the box "I'm not a robot"; and finally click on the "Search" button
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Unsuccessful investors will get refunds in their bank accounts by March 29 and equity shares will be credited to the demat accounts of eligible investors by March 31.
Finally, Udayshivakumar Infra will get listed on the BSE and NSE next month on April 3 as per the schedule provided in the prospectus. The delay is due to market holiday on March 30 for Ram Navami.
This will be the first new listing in the new financial year 2023-24.
Grey Market Premium
Currently, Udayshivakumar Infra IPO shares traded with a massive 35-40 percent premium over its expected final issue price of Rs 35, in the grey market, an unofficial trading platform, analysts on anonymity said.
Generally, participants look at the grey market platform to know the expected listing price for an IPO.
Also read: Avalon Tech's Rs 865-crore IPO opens for subscription on April 3
The Karnataka-based construction company launched its Rs 66-crore IPO, which is entirely a fresh issue, for subscription during March 20-23. The offer received a robust response from investors, subscribing 30.63 times backed by all categories of investors.
High net worth individuals and qualified institutional investors have bought 60.42 times and 40.5 times the allotted quota, respectively, while retail have bid 14 times the portion set aside for them.
The funds will be utilised by company for incremental working capital requirements and general corporate purposes.
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