Best Defense IPO: The listing of shares of Paras Defense, a company that manufactures private defense and space engineering products and provides solutions, may happen on October 1 next week. Prior to the listing, there has been a tremendous increase in the GMP (Grey Market Premium) of the company’s shares.
In the gray market, unlisted shares of Paras Defense are trading at a premium of Rs 405-425 over the GMP issue price. The upper price band of the company’s issue is Rs 175. Accordingly, the unlisted shares of Paras Defense are trading at Rs 600 (175+425). That is, the company is trading 143% above its issue price. If you estimate on the basis of GMP, then the listing of the company’s shares can be strong.
The issue of the company opened on September 21 and closed on September 23. Its issue was subscribed 304.26 times. This is the highest subscription since 2007.
The bids are for 217.26 crore equity shares in lieu of 71.40 lakh shares of the company. According to the company’s upper price band of Rs 175, bids of Rs 38,000 crore have been received. The reserve portion for retail investors has attracted 112.81 times the bid. Whereas Non-Institutional Investors (NIIs or HNIs) have bid 927.70 times their share. The reserve portion for Qualified Institutional Buyers (QIBs) has subscribed 169.65 times.
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The company is raising Rs 179.77 crore from IPO. The company has already raised Rs 51.23 crore from anchor investors. The allotment of shares of the company is scheduled to take place on September 28. If you have also invested in this issue, then know how to check allotment status.
How to check through BSE
First of all click on https://www.bseindia.com/investors/appli_check.aspx.
After clicking on this link a page of Status of Issue Application will open. Select Equity option on it.
Select the name of the company for which you want to check the allotment of IPO.
After that enter your application number.
Below this you have to enter the details of your PAN.
After this, verify you by clicking on the box of I am not a robot.
After this press the search button and the status will be in front of you.
If you want to check allotment through registrar company KFin Technologies then you can check like this
First of all click on this link.
https://ris.kfintech.com/ipostatus/ipos.aspx
After this, select the name of the IPO in Dropbox whose allotment status is to be checked.
Below this, you can check the status by giving any one of these three information-
application number
client id
PAN
After that select the type of your application. That is, choose between ASBA or Non-ASBA.
According to the mode you will select, you will have to give information below it.
After that fill the captcha and submit.
Your allotment status will be in front of you.
Those who do not get the shares, their money will be returned by September 22. Whereas the shares of 23 September will start appearing in the demat account of the people to whom the shares will be allotted. The company’s shares are listed on BSE and NSE on 24 September.
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