Royalarc Electrodes IPO allotment expected today. Steps to check status and latest GMP | Stock Market News
Source: Live Mint
Royalarc Electrodes IPO: The allotment for the initial public offering (IPO) of Royalarc Electrodes, which closed for subscription on Tuesday, is expected to be out on Wednesday, February 19.
Royalarc Electrodes IPO was priced at ₹114 to ₹120 per share, with the company looking to raise ₹36 crore at the upper price band.
The minimum lot size for the public offer was 1200 shares, requiring an investment of at least ₹1,36,800 by the retail investors.
Following the three-day bidding period, which was from February 14 till February 18, Royalarc Electrodes IPO was booked 1.6 times, with the retail portion garnering 2.2 times bids, the NII portion 0.92 times bids and the QIB portion 1.04 times bids.
Given the oversubscription for the IPO, retail investors can expect allotment on a proportional basis. The shares are expected to be credited on Thursday, February 20, while a refund is likely on the same day to those who would miss out on the allotment.
Royalarc Electrodes IPO: Steps to check allotment status online
Since Kfin Technologies is the registrar to the issue, you can check the allotment status on its website. Alternatively, you can also check the same on NSE’s website.
Steps to check status on registrar’s website
1. Head to KfinTechnologies Ltd’s website – https://www.kfintech.com
2. Go to the Products sections
3. Click on IPO share allotment
4. Click on Select Company and from the dropdown pick Royalarc Electrodes
5. Enter the application number or PAN number, or client ID
6. Enter the captcha code and click Submit
Steps to check allotment status on NSE
1. Open the NSE IPO allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
2. Login with username and password (Investors need to create Login & Password)
3. Select Royalarc Electrodes
5. Enter IPO application No
Royalarc Electrodes IPO GMP today
The grey market premium or GMP for Royalarc Electrodes IPO is NIL. This means the company shares could list at par with the issue price of ₹120.
About the company
The company specializes in manufacturing welding consumables, including welding electrodes, flux-cored wire, and MIG/TIG wires. These products are used for welding applications in tanks, boilers, heavy structures, beams, pipes, cylinders, pressure vessels, and more. They serve a wide range of industries such as railways, roadways, airports, refineries, shipyards, mining, sugar, telecom, thermal power stations, and the PEB sector.
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