KP Green Engineering, a provider of engineering and steel structure manufacturing services, will finalize the allotment of shares on Wednesday, following a robust response from investors during the IPO bidding. The subscription window for the issue closed on March 19, with an impressive oversubscription rate of 27.51 times.
With attention now turning to the allotment of shares and the listing of the company’s scrip on the BSE SME platform, investors are eager to know their allotment status.
Here’s how investors can check the status of KP Green Engineering IPO allotment through two different methods:
Checking Allotment Status on the BSE Website:
- Visit the BSE website: https://www.bseindia.com/index.html
- Navigate to the ‘Investors’ section.
- Select ‘Investor Services’.
- Click on ‘Status of Issue Application’.
- Choose ‘Application Status Check’, which will lead to a new page.
- Select the Issue Type as ‘Equity’.
- Locate the Issue Name ‘KP Green Engineering Ltd’ from the dropdown list.
- Enter either the Application No. or PAN.
- Complete the captcha verification.
- Press the ‘Search’ button to view the allotment status.
Alternatively, investors can follow these steps to check allotment status on the Bigshare Services Pvt Ltd portal:
- Visit the Bigshare Services website: https://www.bigshareonline.com/
- Select the IPO allotment status option on the homepage.
- Choose any of the three servers displayed.
- Select the company from the dropdown list.
- Enter the Application No/CAF No/Beneficiary ID/PAN No.
- Complete the captcha verification.
- Click on the ‘Search’ button to retrieve the IPO allotment status.
It’s important to note that only investors who have been allotted shares by the company will be able to view the allotment status, and this will be accessible after the basis of allotment is finalized. Successful bidders will also be able to see the number of shares allotted to them against their applied shares.
Also Read: Royal Sense IPO allotment status: How to check status online on registrar website
KP Green Engineering IPO Subscription Details:
On the final day of bidding on March 19, KP Green Engineering Ltd’s IPO, valued at ₹189.50 crore as a book-build issue, witnessed a subscription rate of 27.51 times. The SME public offer commenced on March 15.
The BSE SME public offer, which consisted of a complete fresh issue of 1.31 crore shares, attracted a total of 25,88,46,000 bids against the 94,10,000 shares available for subscription, resulting in a substantial oversubscription.
In the non-institutional investors’ (NIIs) category, the IPO received applications for 9,11,34,000 shares against the 25,34,000 shares reserved, resulting in an oversubscription of 35.96 times. Qualified institutional buyers (QIBs) subscribed for 7,96,48,000 shares over 25,00,000 shares allotted to them, resulting in a 31.86 times oversubscription.
Retail investors also participated actively, bidding for 8,80,64,000 shares against the 43,76,000 shares offered to them, resulting in an oversubscription of 20.12 times.
KP Green Engineering Ltd allocated 37,50,000 shares (28.50% of the issue size) to anchor investors on March 13, raising ₹54 crore. Additionally, 6,58,000 shares (5% of the issue size) were reserved for the market maker of the IPO, ‘Spread X Securities’.
The IPO price band was fixed at ₹137 to ₹144 per share, with a minimum lot size of 1,000 shares. Retail investors were required to invest a minimum of ₹1,44,000, while high net worth individuals were asked to invest in a minimum of 2 lots or 2,000 shares, totaling ₹2,88,000.
KP Green Engineering will commence refunds for non-allottees on March 21, with shares scheduled to be credited to successful bidders’ Demat accounts on the same day. The company is expected to list its shares on the BSE SME platform on March 22.
Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the KP Green Engineering public offer.
