Today, July 18, 2024, is a big day for investors who applied for the Three M Paper Boards Limited initial public offering (IPO). The share allotment process is being finalized, and investors can now check the status of their applications to see if they’ve been allocated any shares.
The Three M Paper IPO received a very positive response from investors, with the issue being subscribed a whopping 171.33 times according to data from chittorgarh.com. This high subscription level indicates strong investor interest in the company.
Checking Your Allotment Status
If you applied for the Three M Paper IPO, you can now check the status of your application to see if you’ve been allotted any shares. Here’s a step-by-step guide:
- Visit the website of the registrar for the IPO, which is Bigshare Services Pvt Ltd. You can find the link on the company website or through online brokers.
- Look for the section on IPO allotment status.
- “Choose Three M Paper Boards Limited from the company list.”
- Enter your PAN number, application number, or DP client ID (any one of these will work).
- Click on “Search” to view your allotment status.
The allotment status will show you how many shares, if any, have been allotted to you. It will also provide details on the basis of allotment, which is a process used to determine which applications receive shares when there are more applications than available shares.
If you’ve been allotted shares, the next step is for the shares to be credited to your demat account. This will typically happen within a few days after the allotment is finalized. Once the shares are credited to your account, you will be able to buy and sell them on the stock exchange, which is expected to be on July 22nd for Three M Paper Boards.
Due to the high subscription for the IPO, it’s quite likely that many investors won’t be allotted any shares. This is a standard step in the IPO process. If you don’t receive any shares in this IPO, you’ll still have the money you invested returned to your bank account within a few business days.
You may have come across the term “GMP” while researching the Three M Paper IPO. GMP stands for “Grey Market Premium.” It’s an unofficial estimate of the price at which a company’s shares might trade in the grey market after the IPO allotment but before the official listing on the stock exchange. It’s important to note that GMP is not an accurate predictor of the actual listing price, and investors should not base their investment decisions solely on GMP.
Final Thoughts
Today’s allotment finalization for the Three M Paper IPO is an exciting moment for investors. If you applied for the IPO, be sure to check your allotment status using the steps mentioned above. Remember, even if you don’t receive any shares this time, there will be plenty of other IPO opportunities in the future.