The second week of July has proved to be a busy one in terms of companies going public and their share allotments being disclosed. Initial public offering (or IPO) dealings are in full swing, and this week is crucial for those interested in understanding the status of the share allotment for IPOs brought forth by Clean Science and Technology and GR Infraprojects Ltd., respectively.
Clean Science and Technology is set to finalize the status of its shares allotment by the end of the week. Known for its specialty chemicals, it made itself open in the form of subscriptions from the 7th to the 9th of this month. It was subscribed 93.41 times.
GR Infraprojects Ltd. was also open for subscription during the aforementioned period i.e., July 7th to July 9th. The price range applicable for each individual share fell between the range of INR 828 and INR 837 wherein investors were required to invest in a minimum lot size amounting to 17 shares. Its share allotment status is expected during the mid to later portion of this week. Data made available by the Bombay Stock Exchange (or BSE) indicates that GR Infraprojects was subscribed 102.58 times.
The robust demand for each of these IPOs is promising.
Examining IPO Facts for Clean Science & GR Infraprojects
1. Clean Science and Technology
As per data made available via the Bombay Stock Exchange, the IPO for Clean Science and Technology received bids on their shares that numbered 114.92 Crore (or 1,14,92,30,160) in their entirety. This contracts with their issue size which amounted to 1.23 Crore (or 1,23,02,673) shares.
An examination of the share allocation made available for qualified institutional buyers (or QIBs) saw a subscription that amounted to 156.37 times. Shares allocated to non-institutional investors were subscribed 206.43 times. Finally, shares allocated to retail individual investors (or RIIs) saw a subscription amounting to 9.00 times.
Valued at INR 1,546.6 Crores, Clean Science and Technology saw its shares fall in the price range of INR 880 – INR 900 per share. The chemical firm finally raised INR 464 Crores via funds brought in by 41 investors who collectively amassed 51,55,404 equity shares which were each purchased for a price of INR 900.
2. GR Infraprojects Ltd.
When looking at GR Infraprojects Ltd., they acquired bids amounting to over 83.33 Crore shares (or 83,33,04,538). This is set against an issue size that amounted to 81.23 Lakh shares (or 81,23,594).
Shares allocated for QIBs saw a subscription amounting to 168.58 times whereas non-institutional investors subscribed 238.04 times. RIIs subscribed to their allocated shares on 12.57 occasions. Apart from this, when looking at shares subscribed via the employees’ segment, they saw a subscription amounting to 1.37 times.
Valued at INR 963 Crores, this infrastructure company was able to surpass the INR 283 Crore mark in terms of funds raised with funds brought in from 47 investors who collectively purchased 33,85,110 equity shares each of which were priced at INR 837.
Checking Share Allotment Status
Those interested in checking the share allotment status of either of these two companies (Clean Science and Technology and GR Infraprojects Ltd.), can partake in the following steps.
- Visit the Bombay Stock Exchange Website
Visit the BSE Website.
Select the option ‘Equity and Issue Name’ and key out either of the companies.
Fill out the appropriate application number along with digits pertaining to the PAN involved.
Click the ‘search’ button in order to know the application status.
- Visit the IPO Registrar Website
- Interested parties can alternatively check the allotment status by visiting the IPO registrar’s website.
- Select one of the following – Application number, DP client ID, or PAN.
- Select the appropriate company.
- Keeping in mind the previous points, fill out either the application number, DP client ID, or PAN.
- Click the ‘search’ button in order to know the application status.
Other Pertinent Information
Following the share allotment being formally finalized, each of these companies will begin the process of refunding.
In the case of each of these companies (i.e., Clean Science and Technology, and GR Infraprojects Ltd respectively), this process will begin on the 15th of the month.
Those eligible to avail of shares will receive the same in their Depository (or Demat) accounts by July 16 and can expect to trade with the same by July 19, 2021.
The fact that each of these companies was met with significant demand is promising. Their performance over time will reveal their true worth.