Investors who applied for the Rajesh Power Services IPO are excited as the allotment results are expected to be finalized today, November 28, 2024. This IPO received an overwhelming response from investors, being oversubscribed 59 times, reflecting strong demand.
The IPO was open for subscription from November 25 to November 27, 2024, with the price band set between ₹319 and ₹335 per share. The minimum lot size for retail investors was 400 shares, making it an attractive option for a wide range of investors.
How to Check Your IPO Allotment Status
Investors can verify their allotment status online through two straightforward methods:
1. Using the Registrar’s Website
Bigshare Services Pvt Ltd is the registrar for this IPO. Follow these steps to check your status:
- Visit the Bigshare Services IPO allotment page.
- From the dropdown menu, select the IPO name, “Rajesh Power Services.”
- Enter your application number, demat account information, or PAN.
- Complete the captcha code and click Submit.
- Your allotment details will appear on the screen.
2. Using the BSE Website
You can also verify your allotment status on the Bombay Stock Exchange (BSE) website:
- Go to the BSE IPO allotment page.
- Select “Equity” under the “Issue Type” section.
- Select “Rajesh Power Services IPO” from the dropdown list.
- Enter your PAN or application number.
- Solve the captcha and click Submit.
- The next page will display your allotment status.
What Happens After Allotment?
- For Allotted Shares: The shares will be credited to your demat account by the end of November 28, 2024.
- For Non-Allotted Shares: Refunds will begin on November 29, 2024, with the amount transferred back to your bank account shortly thereafter.
Listing Details
The shares of Rajesh Power Services are expected to be listed on the BSE SME platform on December 2, 2024. This marks the start of the company’s trading journey in the market.
Subscription Information
The IPO received an overwhelming response across all investor categories:
- Non-Institutional Investors (NII): Subscribed 138.46 times.
- Qualified Institutional Buyers (QIB): Subscribed 46.39 times.
- Retail Investors: Subscribed 31.96 times.
Due to the high demand, the allotment for retail investors will follow a proportional system, meaning not all applicants may receive shares.
The grey market premium (GMP) for Rajesh Power Services IPO is currently around ₹70 per share. Based on this, the estimated listing price could be approximately ₹405 per share, reflecting a 21% premium over the issue price. Keep in mind that GMP is an informal indicator and may not reflect the stock’s actual performance.
The Rajesh Power Services IPO has generated significant market interest, suggesting it could make a notable impact on listing day. However, it is important to remember that investing in any IPO should always be done after thorough research.
