Shringar House of Mangalsutra is scheduled to finalize the basis of allotment of its shares on Monday, September 15 and bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, September 16. The jewellery player a strong response from the investors.
The IPO of Shringar House of Mangalsutra was open for bidding between September 10 and September 12. It had offered its shares in the price band of Rs 155-165 per share with a lot size of 90 shares. It raised a total of Rs 400.95 crore from its IPO, which was entirely a fresh share sale of 2,43,00,000 equity shares.
The issue was overall subscribed a 60.29 times, fetching over 23.85 lakh applications, attracting bids for more than Rs 16,925 crore. The portion for qualified-institutional bidders (QIBs) was subscribed a solid 101.41 times. The quota for non-institutional investors (NIIs) was booked a 82.58 times. The portion for retail investors and employees were booked 27.22 times and 69.90 times, respectively.
Based on the bidding, here are the odds of allotment for IPO of Shringar House of Mangalsutra:
- Big HNI category: 1 investors out of 17 investors will get 1,260 shares (Probability: 5.88 per cent)
- Small HNI category: 1 investor out of 77 investors will get 364 shares (Probability:1.30 per cent)
- Retail category: 1 investor out of 23 investors will get 90 shares. (Probability: 4.35 per cent)
Incorporated in January 2009, Shringar House of Mangalsutra manufactures and designs Mangalsutra in India. It designs, manufactures, and markets a diverse collection of Mangalsutra featuring various stones like American diamonds, cubic zirconia, pearls, and semi-precious stones, using 18k and 22k gold for its business-to-business (B2B) clients.
The grey market premium (GMP) of Urban Company has seen inched higher thanks strong bidding and rebound in the market sentiments. Last heard, the company was commanding a premium of Rs 30-32 per share in the unofficial market, suggesting a listing of up to 17-18 per cent to the investors. The GMP stood around Rs 25-28, when the issue was running for bidding.
Choice Capital Advisors is the sole book running lead manager for the Shringar House of Mangalsutra IPO and MUFG Intime India is the registrar of the issue. Initiation of refunds and credit of shares will be done on Tuesday, September 16. Shares of the company shall be listed on both BSE and NSE on September 17, Wednesday.
Investors, who had bid for the issue of Shringar House of Mangalsutra, 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 Shringar House of Mangalsutra 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 MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), 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. It 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 post issue.
1) Go to the web portal of MUFG Intime India Limited
2) Select the IPO/FPO 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.