As Sharvaya Metals’ initial public offering (IPO) closed for bidding on Tuesday, September 9, investor focus has shifted to its allotment status, which is slated to be out on Wednesday, September 10.
The SME IPO witnessed a decent demand for its public offer, closing with 4.83 times bids. The qualified institutional buyer (QIB) quota was booked 1.28 times, the non-institutional investor (NII) portion was subscribed 6.09 times while the retail segment saw 6.31 times bids.
Sharvaya Metals IPO, worth ₹58.80 crore, was a mix of offer for sale of ₹9.80 crore and a fresh issue of ₹49 crore. The issue price band was set ₹192 to ₹196 per share, requiring investors to apply in lots of 600 shares.
The company plans to use the proceeds from fresh share sale for meeting capital expenditure needs for civil construction, electrification and purchase of plant and machinery. Additionally, funds will also be used for meeting working capital needs and general corporate purposes.
Sharvaya Metals IPO Allotment Status
Now, to check the allotment for Sharvaya Metals IPO online, investors have the option to head to the registrar’s website (Bigshare Services) or the exchange (BSE).
Steps to check Sharvaya Metals IPO allotment on BSE
Since the shares of Sharvaya Metals IPO will list on the BSE SME platform, investors can check allotment online on the BSE by following these steps:
⦁ Head to the BSE allotment status page using this https://www.bseindia.com/investors/appli_check.aspx
⦁ Select Equity as issue type
⦁ Pick Sharvaya Metals as issue name from the dropdown
⦁ Enter application or PAN number
⦁ Click on ‘I’m not a robot’
Steps to check Sharvaya Metals IPO allotment on registrar’s website
⦁ Head to the registrar’s website using this link: https://www.bigshareonline.com/ipo_allotment.html
⦁ Select any of the three servers
⦁ From the dropdown, select company name
⦁ Select application number, beneficiary ID or PAN nuber
⦁ Enter details related to the option picked
Sharvaya Metals IPO GMP
Sharvaya Metals IPO’s grey market premium (GMP) has declined significantly over the last few sessions. On Wednesday, Sharvaya Metals IPO GMP was ₹2.5 apiece. This means shares of Sharvaya Metals were trading ₹2.5 above its issue price of ₹196. At this rate, Sharvaya Metals IPO listing price could be ₹198.5, a premium of 1.28%.
About Sharvaya Metals
Sharvaya Metals is an aluminium products manufacturer, catering to both domestic and international customers. It has an extensive product range, which includes the manufacturing of Aluminium Alloyed Ingots, Aluminium Billets, Aluminium Slabs, Aluminium Sheets, Aluminium Circles and Electric Vehicle (EV) battery housing, also known as a battery case or battery enclosure, that protects the battery cells from damage and provides structural support.
Its products find application across various industries, including cookware, consumer appliances, electric vehicles, LED, aviation, defence, automotive, extrusions, constructions, etc.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
