The allotment for the Premium Plast IPO is likely to be finalized today. Investors who applied for shares can check if they received an allotment through the registrar, Bigshare Services, or on the NSE website. The IPO, which was open for subscription from October 21 to October 23, saw a strong response, with an oversubscription rate of 38 times.
Retail investors were especially enthusiastic, with the retail portion being oversubscribed 65 times. The non-institutional investor segment was oversubscribed 19.56 times, and the Qualified Institutional Buyers (QIB) segment saw 6.74 times the available shares subscribed. The price range for the IPO was set between ₹46 and ₹49 per share.
Due to the high retail demand, shares will be allocated to retail investors on a proportional basis. Investors who do not receive shares will have their refund process begin on October 25, 2024. The shares will be credited to the demat accounts of successful applicants on the same day. The IPO is expected to list on the NSE SME platform around October 28, 2024.
How the Company Plans to Use IPO Proceeds
The funds raised from the IPO will be used for several purposes, including expanding the company’s manufacturing facility in Pithampur, Madhya Pradesh, purchasing new machinery, setting up a solar power plant, repaying some outstanding loans, and covering general corporate expenses and offer-related costs.
How to Check Premium Plast IPO Allotment Status
You can check the status of your allotment using either the Bigshare Services website or the NSE website:
On Bigshare Services’ website:
- Visit the Bigshare Services IPO allotment page here.
- Choose any of the three servers listed to check your status.
- Select ‘Premium Plast’ from the company dropdown list.
- Enter one of the following: application number, demat account details, or PAN number.
- Input the required details and the Captcha code.
- Press ‘Search’ to view your allotment status.
On NSE’s website:
- Open the IPO allotment page on the NSE website here.
- Log in with your credentials.
- Select ‘Premium Plast,’ enter your PAN and application number, then click ‘Submit.’
About Premium Plast
Premium Plast is a tier-1 supplier of automotive components. The company designs, manufactures, and supplies exterior, interior, and under-the-hood plastic parts to commercial vehicle manufacturers. Premium Plast also makes a variety of plastic products through injection and blow molding for various industries. These include automotive parts, industrial plastic components, and packaging products, serving a wide range of industries.
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