NEW DELHI: Investors, especially high-net worth individuals (HNIs) and retail investors, are keenly awaiting share allotment in Chemcon Speciality Chemicals – the issue that received 149.30 times bids last week.
The basis of share allotment for Chemcon Speciality Chemicals initial public offer (IPO) is likely to be finalised on Tuesday. The issue, which was sold between September 21 and 23 in the price band of Rs 338-340, saw non institutional investor (NII) quota (which includes HNIs) getting subscribed 449.14 times. The quota for qualified institutional bidders (QIBs) was subscribed 113.54 times and the retail investors’ quota 41.15 times.
The unofficial market for unlisted shares is already reflecting bullish sentiment, with the premium on the stock staying at 107 per cent at Rs 365 on Friday.
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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 issue.
A 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. 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.
Note that the name of the company appears only when the allotment is made.
An easier way of searching the allotment status is via stock exchanges. On BSE, one can click here https://www.bseindia.com/investors/appli_check.aspx. All one needs is ‘select’ equity and in the dropbox search for Chemcon. The investor needs to produce the application number and PAN ID before the status is populated.
