Pratham EPC Projects will start refunds to non-allottees and credit shares to the Demat accounts of successful IPO applicants on March 15. The shares of Pratham EPC Projects will be listed on NSE SME on March 18, 2024.
Pratham EPC Projects IPO closed on Wednesday after a bumper response from investors during its three-day subscription. Investors will now focus on Pratham EPC Projects IPO allotment status, which is likely to be finalized on Thursday, March 14.
The public offer, a book build issue of ₹36 crore, opened for bidding on Monday, March 11. The public offer is an out-and-out fresh issue of 48 lakh shares.
Pratham EPC Projects Limited IPO garnered an overwhelming response from subscribers, with oversubscription of 178.61 times. The issue received bids for 57,04,30,400 shares against the 3,193,600 shares on offer, according to NSE data.
The subscription levels soared over 320 times in the non-institutional investors’ (NIIs) category, with bids totaling 21,97,37,600 shares against the 6,84,800 shares offered. The portion reserved for retail investors witnessed a 179 times oversubscription, as bids poured in for 28,66,00,000 shares over the 15,96,800 shares set aside. In the qualified institutional buyers (QIBs) category, the issue was oversubscribed by 70.28 times, with bids totaling 6,40,92,800 shares against the 9,12,000 shares reserved for this segment.
Pratham EPC Projects raised ₹10.25 crore from anchor investors by issuing 1,366,400 shares (28.47% of the total offer) on March 13, 2024.
The IPO allotment status, which will be finalized today, can be checked online through the registrar’s website. Link Intime India is the registrar to the issue.
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Steps to check Pratham EPC Projects IPO allotment status on Link Intime India website:
- Visit https://www.linkintime.co.in/
- Go to ‘Investor Services’ section
- Select ‘Public Issues’ from the drop-down list
- Select ‘Company’
- Enter PAN/Application Number/DP Client ID/Account No./IFSC
- Click ‘Submit’ button
Steps to check Pratham EPC Projects IPO allotment status on NSE:
- Go to the NSE website – https://www.nseindia.com
- Register and get username and password.
- Log in to the portal
- Select company name from the dropdown list
- Verify PAN Numaber and enter Application Number
- Click ‘Submit’ button
Pratham EPC Projects IPO Details:
The IPO’s price band was fixed at ₹71 to ₹75 per share, with a minimum lot size of 1,600 shares per applicant. Retail investors were required to invest a minimum amount of ₹120,000 for one lot. High net worth individuals (HNIs) had a minimum lot size of 2 lots or 3,200 shares, amounting to ₹2,40,000.
The company will initiate refunds to non-allottees of shares on March 15. Shares will be credited to the Demat accounts of successful applicants on the same day. Pratham EPC Projects’ shares will be listed on NSE SME on March 18, 2024.
Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager of the IPO, while Spread X Securities acts as the market maker for the public issue.
Nayankumar Manubhai Pansuriya and Pratikkumar Maganlal Vekariya are the promoters of the company. Post-IPO, the promoters’ shareholding will decrease to 72.97% from the existing 100%.
About Pratham EPC Projects Ltd
Set up in 2014, Pratham EPC Projects Limited is into end-to-end services to oil and gas utilities in the country, Its specializations lie in integrated engineering, procurement, construction and commissioning.
