Analysts had noted that while the company’s fundamentals were strong, the valuation appeared stretched. Progressive Share Brokers said that sentiment towards the IPO had also dampened a bit due to Chinese investments as well as from the fact that Satyam founders hold a stake in the company.
As per the IPO prospectus, the basis of allotment for the IPO is likely on Tuesday while the refund process would be initiated on Wednesday. The credit of shares to demat account will be done on Thursday and a stock listing is likely by Friday.
Those who had bid for the issue can check the subscription status on the online portal of Link Intime India Private, the registrar to the IPO. The registrar to an issue is a Sebi-registered entity, qualified to act as such, and which electronically processes all applications and carries out the allotment process as per the prospectus.
On Link Intime India’s web portal (https://linkintime.co.in/MIPO/Ipoallotment.html), one needs to select the IPO whose data will be populated only when the basis of allotment is declared. One also needs PAN ID or application ID or client ID and DPID (depository participant identification) to arrive at information.
The registrar is responsible for complying with the time deadlines for updating the electronic credit of shares to successful applicants, dispatch and uploading of refunds and attending to all investor-related queries after the issue is completed.
Another way of checking the allotment status is via stock exchange. On BSE, one can click here
The IPO had received bids for 6.22 crore shares as against the issue size of 3.02 crore shares. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 6.39 times. Retail investors bid for 23.6 per cent of the shares set aside for them while non-institutional investors’ portion was subscribed 50.5 per cent.
The issue consisted of a mix of a fresh issue of Rs 1,250 crore worth shares and an offer for sale of up to 3.49 crore shares. On the block were 1.9 crore shares by Fosun Pharma Industrial Pte and 1 crore shares by Gland Celsus Bio Chemicals. Empower Discretionary Trust and Nilay Discretionary Trust are two other shareholders offloading 35.73 lakh and 18.45 lakh shares, respectively.