The allotment for the Paramount Speciality Forgings Initial Public Offering (IPO) is set to be finalized today. Investors who took part in the IPO can check their allotment status through various easy methods.
The Paramount Speciality Forgings IPO opened for subscription from September 17 to September 20, 2024. It attracted a lot of attention from investors, being oversubscribed by an impressive 73.88 times. Specifically, the non-institutional investor (NII) segment was oversubscribed 220.24 times, while the retail portion saw a subscription of 41.35 times. The IPO price was set between ₹57 and ₹59 per share.
Given the high demand, shares will be allocated to retail individual investors (RIIs) on a proportional basis. This means that not all investors may receive shares, but those who do will benefit from the company’s growth potential. For those who do not receive an allotment, refunds are expected to start on September 24, 2024. Shares that are allocated will be added to investors’ demat accounts on the same day that refunds are issued.
The IPO is expected to be listed on the NSE SME platform, with a tentative listing date of September 25, 2024.
How to Check Allotment Status
Investors can easily check their allotment status using several methods:
- Through the Registrar’s Website:
- Visit the website of Purva Sharegistry India Pvt Ltd, the registrar for the IPO.
- Go to the IPO allotment section.
- Enter your application number, PAN number, or Demat account details.
- Press the “Search” button to check your allotment status.
- Through BSE/NSE Websites:
- Navigate to the official website of either the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE).
- Find the IPO allotment section.
- Input your application number, PAN number, and any other required details.
- Click “Submit” to see your status.
Investors are keenly awaiting the allotment results, hoping for a successful allocation that could lead to potential capital gains. However, it’s important to remember that investing in IPOs involves risks, and investors should conduct their own research before making investment decisions.
About Paramount Speciality Forgings: The company specializes in manufacturing high-quality forged components primarily for the automotive industry. Established in 1996, it has grown significantly and expanded its operations through investment in advanced machinery and technology. The funds raised from the IPO will be used for further expansion and other corporate purposes.
As the allotment results are announced, investors will gain clarity on their investment status. Whether they receive shares or not, they will have a better understanding of their involvement in this promising opportunity.
