IValue Infosolutions is likely to finalize the basis of allotment of its shares on Tuesday, September 23. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Wednesday, September 24. The IT and digital solutions player saw a muted response from the investors.
The IPO of iValue Infosolutions was open for bidding between September 18 and September 22. It had offered its shares in the price band of Rs 284-299 per share with a lot size of 50 shares. The company raised a total of Rs 560.29 crore via IPO, which was entirely a offer-for-sale (OFS) 1,87,38,958 equity shares.
The issue was overall subscribed only 1.82 times fetching only 1.3 akh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed 3.18 times, while the portion for non-institutional investors’ (NIIs) saw bids for 1.26 times. However, the retail investors’ quota was booked at 1.28 times.
The grey market premium (GMP) of iValue Infosolutions has seen a sharp correction, thanks to a dull bidding and selling in the broader markets. Last heard, the company was commanding no premium in the unofficial market, suggesting flat listing for the investors. The GMP stood at Rs 15 when the issue had opened for bidding.
Incorporated in 2008, Bengaluru-based iValue Infosolutions is a technology services and solutions provider specializing in enterprise digital transformation. The company operates across India, the SAARC region, and Southeast Asia. It offers comprehensive, purpose-built solutions for securing and managing digital applications and data.
IIFL Capital Services and Motilal Oswal Financial Services is the book running lead manager for the iValue Infosolutions IPO and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE, with Thursday, September 25 as the tentative date of listing.
Investors, who had bid for the issue of iValue Infosolutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select iValue Infosolutions Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit search button
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.