The much-anticipated Initial Public Offering (IPO) of BikeWo GreenTech has officially concluded, and investors are now eager to learn about their share allotment status. This IPO generated significant interest and saw robust subscriptions from the public.
BikeWo GreenTech’s IPO was valued at ₹24.09 crore and opened for bidding on September 20. It closed on September 24, with a price band set between ₹59 and ₹62 per share. The IPO is a fresh issue of 38.86 lakh shares, which means that no shares were sold by existing shareholders.
The minimum lot size for this IPO was 2,000 shares, requiring a minimum investment of ₹1.24 lakh for retail investors. This IPO was met with strong demand, subscribing a total of 41.82 times within the three days of bidding. This indicates that investors were very interested in purchasing shares, with bids received for 15.43 crore shares against the 36.90 lakh shares available.
Subscription Details
The IPO saw varied interest across different investor categories. The retail investor segment was particularly strong, with a subscription of 61.04 times, meaning that for every share available, over 61 were requested. Non-institutional investors (NIIs) also showed significant interest, subscribing 22.48 times. Meanwhile, qualified institutional buyers (QIBs) were highly engaged, with their quota subscribed 43.03 times.
How to Check Allotment Status
Investors who applied for shares in the BikeWo GreenTech IPO can check their allotment status online. Here’s a straightforward guide on how to do it:
- Visit the Registrar’s Website: Go to the official portal of the IPO registrar, Bigshare Services Private Ltd.
- Select the IPO: From the menu, choose BikeWo GreenTech IPO.
- Choose Your Checking Method: You can check your status using your PAN (Permanent Account Number), Demat account number, or application number.
- Enter Your Details: Input the required information, such as your application number, PAN, or Demat account number.
- Complete the Captcha: Fill in the captcha to verify you are not a robot.
- Submit and View Status: Click the “submit” button to see your allotment status.
If you have been allotted shares, you will receive a confirmation email or SMS from the registrar. The shares will be credited to your Demat account on Thursday, September 26, 2024. For those whose applications were not successful, refunds will also be processed on the same day.
The shares of BikeWo GreenTech are set to list on the NSE SME on Friday, September 27, 2024. The expected listing price is closely tied to the Grey Market Premium (GMP). Currently, the GMP for BikeWo GreenTech shares is ₹7 per share, suggesting an expected listing price of ₹69. This is about 11.29 percent higher than the issue price of ₹62.
About BikeWo GreenTech
Founded in December 2006, BikeWo GreenTech has become a leading retailer of electric two-wheelers in India. The company operates in several states, including Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. With plans to expand into more cities, such as Raipur, Indore, and Delhi, BikeWo GreenTech is focused on its premium EV retail business, featuring brands like Ola Electric, Quantum e-scooters, Bounce, and GT-Force.
The BikeWo GreenTech IPO has generated significant interest among investors. With the allotment process now complete, all eyes are on the upcoming listing and how the shares will perform in the market. Before investing in any IPO, it’s essential to conduct thorough research on it.
