The much-awaited allotment results for the Pranik Logistics Initial Public Offering (IPO) are expected to be finalized today. This news is exciting for many investors who participated in the IPO. If you’re one of those investors, you’ll want to know how to check if you received shares.
The Pranik Logistics IPO was open for subscription from October 10 to October 14. It generated a strong interest from investors and was oversubscribed by 218 times. This means that for every share available, many more investors wanted to buy it.
- The non-institutional investor (NII) segment saw a whopping 744 times oversubscription.
- The retail portion was oversubscribed 97.21 times.
- The Qualified Institutional Buyer (QIB) portion was booked at 35.67 times.
The price band for the shares was set between ₹73 and ₹77 each. Given the high demand from retail investors, shares will be allocated on a proportional basis.
How to Check Your Allotment Status
You can check your Pranik Logistics IPO allotment status online through the registrar, Maashitla Securities Private Limited, or on the NSE website. Here’s a simple guide to help you check your status:
1. Checking Through Maashitla Securities:
- Visit the Maashitla Securities website: Maashitla Securities Allotment Status.
- Please choose “Pranik Logistics Limited” from the dropdown menu on the Check Application Status page.
- Please input your PAN number, Demat Account Number, or Application Number.
- Click the “SUBMIT” button.
- Your allotment status will appear on the screen.
2. Checking Through NSE:
- Go to the IPO allotment page: NSE IPO Allotment.
- Log in with your credentials.
- Select Pranik Logistics, enter your PAN details and application number, and click “Submit.”
Once the allotment results are out, successful investors will need to pay any remaining subscription amount. The shares will then be credited to their Demat accounts. If you do not receive an allotment, you can expect a refund of your application money, which will begin processing on October 16, 2024.
Shares allotted to investors will be credited to their accounts on the same day as the refunds. The shares of Pranik Logistics are expected to be listed on the NSE SME platform on October 17, 2024.
Pranik Logistics plans to use the funds raised from the IPO for several important purposes. This includes investing in technological advancements, fulfilling capital expenditure requirements, and addressing working capital needs. Additionally, the funds will be used for general corporate purposes and to cover issue expenses.
The Pranik Logistics IPO allotment is an exciting event for many investors. By following the steps outlined above, you can easily check your allotment status and plan your next moves. With the shares being oversubscribed significantly, many investors are eager to see how their investments will perform in the market.
