Shining Tools IPO allotment: Following the closure of Shining Tools’ initial public offering (IPO), the investor focus has shifted to its allotment status. Shining Tools IPO allotment date is today, November 12.
Shining Tools IPO was open for bidding from November 7 to November 11. The allotment is generally finalised a day after the offer period ends. The issue garnered a tepid response for its ₹17 crore offering, garnering just 1.15 times bids. The non-institutional investor (NII) quota was booked 0.43 times, and the retail investor quota was subscribed 1.87 times.
Overall, the IPO garnered bids for 16,35,600 shares as against 14,25,200 shares on offer.
Shining Tools IPO Details
The SME IPO was a fixed price issue consisting entirely of a fresh share sale of 0.15 crore shares amounting to ₹17.10 crore. The issue price was set at ₹114. Investors could apply for Shining Tools IPO in lots of 1200 shares, and multiples thereof.
Retail investors needed to apply for at least two lots amounting to ₹2,73,600.
The company, which produces high-performing solid carbide cutting tools, plans to use the process for the purchase and installation of plant and machinery for Carbide Precision Tools at the premises, funding working capital needs and general corporate needs.
Shining Tools IPO Allotment
Now, with the investor focus shifting to allotment, investors can check the same on the BSE SME platform or with the registrar, which is Maashitla Securities.
Steps to check Shining Tools IPO allotment on BSE
Steps to check Shining Tools IPO allotment with registrar
- Head to the registrar’s website using this link: https://maashitla.com/allotment-status/public-issues
- Select company name from the dropdown
- Pick any of the options: PAN/Application Number/DEMAT Account Number
- Enter details pertaining to the option selected
- Hit Submit
Shares of Shining Tools will list on the BSE SME platform on Friday, November 14.
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.
