The much-awaited Abha Power and Steel Limited IPO, which closed for subscription on November 29, 2024, has received a strong response, with the issue being subscribed 18 times. As investors eagerly await the allotment status, here’s a simple guide on how to check it online and understand key aspects like the Grey Market Premium (GMP) and the listing date.
How to Verify the Allotment Status for Abha Power and Steel IPO Online
Abha Power and Steel’s allotment process is being managed by Skyline Financial Services Pvt Ltd, the registrar for this IPO. If you’ve applied for the IPO, you can easily check if you’ve been allotted shares through Skyline’s official website. Here are the steps to follow:
- Visit the Registrar’s Website
Go to the Skyline Financial Services website by clicking here. - Select the IPO
Once you are on the page, select ‘Abha Power and Steel’ from the drop-down list under the ‘Select IPO’ section. The company’s name will only appear once the allotment process is completed. - Choose the Detail Type
You’ll be asked to select one of the following options to search for your allotment status:- Application Number
- Demat Account Number
- PAN Number
- Enter the Details
Enter the relevant information based on the option you selected. Double-check your details to avoid any errors. - Submit
After entering the required information, click Submit. The system will display your allotment status, confirming whether or not you’ve been allotted shares.
Alternative Option: Check Through the NSE Website
Investors can also view their allotment status directly on the official website of the National Stock Exchange (NSE).
- Visit the NSE IPO page
Go to the NSE IPO login page. - Login or Register
If you’re already registered, simply sign in using your username and password. If you haven’t registered yet, you will need to sign up with the necessary details. - Select the IPO
Select Abha Power and Steel from the list of options. - Enter Your PAN and Application Number
Enter your PAN number and application number to verify your allotment status.
The provisional listing date for Abha Power and Steel shares on the NSE SME (Small and Medium Enterprises) platform is set for December 4, 2024. This means that the company’s shares are expected to start trading on the stock exchange on this date. Investors should keep an eye on the listing announcement for any updates or changes.
As the listing date approaches, investors are closely monitoring the Grey Market Premium (GMP) for Abha Power and Steel shares. The GMP shows the difference between the anticipated listing price of the shares and the issue price in the gray market.
Currently, the GMP for Abha Power and Steel IPO is at ₹15, which indicates that the shares are being traded in the grey market at a premium of ₹15 above the issue price of ₹75. This suggests that investors are expecting the shares to list at around ₹90, which represents a 20% premium over the upper band of the issue price.
Investors should also be prepared for the volatility of the stock market, as share prices can fluctuate significantly. It’s always advisable to approach IPO investments with a long-term perspective, considering the company’s fundamentals and growth prospects.
With the allotment date nearing, Abha Power and Steel IPO has attracted significant attention from investors. Checking the allotment status is easy and can be done online through the registrar’s website or the NSE portal. Keep an eye on the GMP and be prepared for market fluctuations once the shares list on December 4, 2024. By staying informed and understanding the IPO process, investors can make better decisions and potentially maximize their returns.
