Shreedhar Spinners IPO share allotment is expected to be finalised today, Monday, 29 June. The SME IPO opened for public subscription on Tuesday, 23 June, and concluded on Thursday, 25 June, with an overall subscription of nearly 7 times.
As the SME IPO concluded on Thursday, share allotment is expected to be finalised on the next business day, Monday, 29 June, as Friday was a holiday on account of Muharram.
Successful bidders can expect the shares to be credited to their demat accounts on Tuesday, 30 June, while unsuccessful bidders will likely receive refunds on the same day. The stock is scheduled for a debut on the NSE SME on Wednesday, 1 July.
Shreedhar Spinners IPO was an entirely fresh issue of 57,88,000 shares. The price band of the issue was ₹51 to ₹53 per share. Thus, the public issue aimed to raise about ₹30.68 crore, which will be used for meeting working capital requirements, the purchase of machinery in the existing manufacturing facility at Amravati, Maharashtra, and for general corporate purposes.
Shreedhar Spinners is engaged in the manufacturing of compact spun cotton yarn of various counts. It operates exclusively in the business-to-business (B2B) segment.
How to check Shreedhar Spinners IPO allotment status online?
Investors who bet on the IPO can check the share allotment status online on the registrar’s website. They can also check the share allotment status on the official websites of the NSE.
MUFG Intime India Private Limited was the official registrar of the SME IPO.
How to check Shreedhar Spinners IPO share allotment status on the registrar’s website?
One can follow these steps to check the share allotment status:
Step 1: Visit the registrar’s website with this direct weblink
Step 2: Select the company’s name
Step 3: Insert either the PAN, the application number, the client ID, or the bank account number with the IFSC code
Your Shreedhar Spinners IPO allotment status will appear on your computer monitor or mobile phone screen.
How to check Shreedhar Spinners IPO allotment status on NSE?
Step 1: Go to the official website of NSE using the following link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Step 2: Select the “Equity & SME IPO bid details” option
Step 3: Enter your PAN and application number and hit “submit”.
Shreedhar Spinners IPO GMP today
According to market sources, the grey market premium (GMP) of Shreedhar Spinners’ stock on Monday morning was nil. This indicates the stock could list at par with the issue price of ₹53.
Disclaimer: This story is for educational purposes only and does not constitute investment advice. 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.
