Tipco Engineering IPO Allotment to be Finalized Today: Key Details and Tracking Steps

Tipco Engineering IPO Allotment Finalised

Key Highlights:

• Tipco Engineering's initial public offering (IPO) allotment is set to be finalised on Friday, March 27.
• The SME IPO was open for subscription from March 23 to March 25.
• Investors can check their allotment status today on the Maashitla Securities Pvt. Ltd. website or through the BSE website.

Allotment Details:

• The 1.5 times subscribed IPO saw 0.57 times subscription in the retail individual investors segment, 3.2 times in the QIB (excluding anchor investors) category, and 1.46 times in the NII segment.
• Tipco Engineering will list on BSE SME on April 1.

Refund and Credit Process:

• Once the basis of share allotment is fixed, the company will credit the equity shares into the demat accounts of eligible allotment holders and initiate refunds to unsuccessful bidders on March 30.

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IPO Listing Price:

• The shares of Tipco Engineering were trading at a premium of ₹0 in the grey market, with an estimated listing price likely to be the same as the IPO price.

IPO Details:

• ₹60.55-crore Tipco Engineering IPO was a book-built issue comprising a fresh issue of 0.54 crore shares worth ₹48.49 crore and an offer for sale (OFS) of 0.14 crore shares aggregating to ₹12.06 crore.
• The price band for the IPO was fixed at ₹84 to ₹89 per share.
• Investors can bid in lots of 1,600 shares, with retail participants required to apply for a minimum of two lots, translating into a minimum investment of ₹2,84,800.