Investors who participated in the Usha Financial Services Initial Public Offering (IPO) are eagerly waiting for the allotment results, set to be released today. Usha Financial Services, a well-established non-banking finance company (NBFC), recently offered its IPO, which received strong interest from investors across the board. The IPO, which raised ₹98.45 crore, saw high demand, with an overall subscription rate of about 19 times, while retail and non-institutional segments showed even higher interest.
Here’s a breakdown of what investors need to know about checking the allotment status, key dates, and important updates on the Usha Financial Services IPO.
Steps to Verify the IPO Allotment Status for Usha Financial Services
Investors who applied for the Usha Financial Services IPO can easily check their allotment status online. The company’s IPO registrar, Skyline Financial Services Private Ltd, provides an online portal to check the allotment status using the investor’s PAN number, application number, or Demat Account (DP ID). Here’s a step-by-step guide to help investors check their allotment status on the registrar’s website:
- Go to Skyline Financial Services Website: Visit the official website of Skyline Financial Services Private Ltd, which is handling the IPO allotment.
- Select Usha Financial Services IPO: From the dropdown menu, choose the Usha Financial Services IPO option.
- Choose Mode of Search: Select either PAN number, application number, or Demat Account (DP ID) to check your status.
- Enter Details: Based on your selected mode, enter the relevant details, such as your PAN, application number, or DP ID.
- Complete the CAPTCHA: To verify your entry, complete the CAPTCHA and click ‘Submit.’
Investors can also check their allotment status through their brokers’ websites if they applied via a broker. Additionally, the National Stock Exchange (NSE) website provides another option to view the allotment status by logging into their IPO section. For this, you’ll need to register on the NSE portal and log in to check the allocation.
The Grey Market Premium (GMP) is a helpful indicator of the demand for IPO shares in the informal market before the listing date. For the Usha Financial Services IPO, the GMP has been around ₹10 per share, suggesting positive demand and investor sentiment for the IPO. The GMP of ₹10 over the upper issue price of ₹168 per share implies that the shares could potentially list at around ₹178, offering a gain of approximately 5.95% for investors. This premium can change as the listing day approaches, so it serves as an unofficial indicator of expected stock performance on the listing date.
Key Dates for Usha Financial Services IPO
For those following the timeline of this IPO, here are the essential dates to remember:
- IPO Open Date: October 24, 2024
- IPO Close Date: October 28, 2024
- Allotment Date: October 29, 2024
- Refund Date: October 30, 2024
- Listing Date: October 31, 2024
These dates outline the important phases from IPO application to listing. Investors who do not receive allotments can expect refunds by October 30, and shares for those allotted will be credited to their Demat accounts on the same date. The IPO will officially list on the NSE SME platform on October 31.
Usha Financial Services is a recognized non-banking finance company (NBFC) in India, known for offering a variety of financial services, such as loans, investments, and insurance. The company’s solid track record and focus on customer service have made it a reputable choice in the financial market. This IPO aims to fuel further growth, and the positive investor response indicates confidence in the company’s future prospects.
The Usha Financial Services IPO has been met with high investor interest, resulting in substantial oversubscription. Investors can check their allotment status through Skyline Financial Services or NSE’s website. With a positive GMP, the IPO listing may bring a premium gain to investors, marking a strong debut in the stock market.
