Srinibas Pradhan Constructions IPO Allotment Status to be Released Today
Srinibas Pradhan Constructions IPO Update
The allotment of Srinibas Pradhan Constructions Limited IPO is scheduled to be finalized on March 11. The SME IPO was open for subscription from March 6 to March 10. The IPO allottees are expected to receive their shares on Thursday, March 12, while refunds for unsuccessful applicants will also be initiated on the same day.
Key Details
- Issue Size: ₹20.38 crore
- Fresh Issue: 17 lakh shares worth ₹16.79 crore
- Offer for Sale (OFS): 4 lakh shares aggregating ₹3.53 crore
- Net Proceeds: ₹12.55 crore
The net proceeds from the IPO will primarily be used to support the company's operational and financial requirements. Of the estimated proceeds of ₹12.55 crore, around ₹11.55 crore will be utilised to meet working capital needs, while ₹1 crore will be allocated toward partial repayment of the company's existing borrowings.
Listing and Trading
The stock is scheduled to debut on the NSE SME platform on Friday, March 13. The shares of Srinibas Pradhan Constructions IPO are currently trading at a premium of ₹0 in the grey market, with an estimated listing price likely to be the same as the IPO price of ₹98.
Allotment Status
Investors can check their allotment status through the official portals of the NSE, BSE, or the registrar - Maashitla Securities - once the basis of allotment is finalized.
Checking Allotment Status
- NSE: Visit the NSE IPO allotment page and follow the steps outlined.
- BSE: Visit the BSE allotment page and follow the steps outlined.
- Maashitla Securities: Visit the registrar's portal and follow the steps outlined.
Issue Team
- Book-running lead manager: Novus Capital Advisors Private Limited
- Registrar: Maashitla Securities Pvt Ltd
- Market maker: Rikhav Securities Ltd
Investor Takeaway
Monitor the allotment status and potential listing price of Srinibas Pradhan Constructions IPO.
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