Srinibas Pradhan Constructions IPO: The allotment of Srinibas Pradhan Constructions IPO is all set to be finalised today, March 11. The SME IPO was open for subscription from March 6 to March 10.
The IPO allottees are expected to receive their shares on Thursday, March 12, while refunds for unsuccessful applicants will also be initiated on the same day. The stock is scheduled to debut on the NSE SME platform on Friday, March 13.
Srinibas Pradhan Constructions Limited is an Odisha-based infrastructure company engaged in projects such as building roads, highways, bridges, and other civil structures, as well as constructing industrial facilities and carrying out maintenance work.
Srinibas Pradhan Constructions IPO GMP today
The shares of Srinibas Pradhan Constructions IPO are currently trading at a premium of ₹0 in the grey market. This means that the current GMP of Srinibas Pradhan Constructions IPO is ₹0, according to Investorgain.
The estimated listing price of Srinibas Pradhan Constructions IPO is likely to be same as the IPO price of ₹98.
Srinibas Pradhan Constructions IPO allotment status
Investors who applied for the IPO can check their allotment status through the official portals of the NSE, BSE, or the registrar – Maashitla Securities -once the basis of allotment is finalised.
How to check allotment status on NSE?
- Visit the NSE IPO allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
2. Select Equity under the issue type and choose Srinibas Pradhan Constructions Limited from the list of IPOs.
3. Then enter your PAN number along with the application details
4. Submit the information to check your allotment status.
How to check allotment status on BSE?
- Visit the BSE allotment page: https://www.bseindia.com/investors/appli_check.aspx
2. Select Equity as the issue type and choose Srinibas Pradhan Constructions Limited from the company list.
3. Enter your application number or PAN to complete the verification process.
4. Click on submit to check your allotment status.
How to check allotment status on Maashitla Securities?
- Visit the registrar’s portal at https://maashitla.com/allotment-status/public-issues
2. Select Srinibas Pradhan Constructions Limited IPO from the dropdown menu
3. Then enter your PAN, application number, or DP/Client ID
4. Click on submit to check your allotment status.
Srinibas Pradhan Constructions IPO details
The company planned to raise ₹20.38 crore through its initial public offering (IPO), which comprises a mix of a fresh issue of shares and an offer for sale (OFS). The issue includes a fresh issue of 17 lakh shares worth ₹16.79 crore, along with an OFS of 4 lakh shares aggregating ₹3.53 crore.
The net proceeds from the IPO will primarily be used to support the company’s operational and financial requirements. Of the estimated proceeds of ₹12.55 crore, around ₹11.55 crore will be utilised to meet working capital needs, while ₹1 crore will be allocated toward partial repayment of the company’s existing borrowings. The remaining amount will be used for general corporate purposes.
Novus Capital Advisors Private Limited is the book-running lead manager for the issue, while Maashitla Securities Pvt Ltd has been appointed as the registrar. Rikhav Securities Ltd is the market maker.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
