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Business News/ Markets / Ipo/  SAR Televenture IPO allotment finalised: Here's how to check status
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SAR Televenture IPO allotment finalised: Here's how to check status

Investors can check their allotment status on the issue's registrar Skyline Financial Services' website. Since this is an NSE SME IPO, there is no method to check on the exchange website. BSE only offers allotment status in the case of mainboard IPOs and for BSE SME IPOs.

Investors can check their allotment status on the issue's registrar Skyline Financial Services' website. (iStock)Premium
Investors can check their allotment status on the issue's registrar Skyline Financial Services' website. (iStock)

The allotment for the initial public offer (IPO) of SAR Televenture is being finalised today, November 7. Investors can check their allotment status on the issue's registrar Skyline Financial Services' website. Since this is an NSE SME IPO, there is no method to check on the exchange website. BSE only offers allotment status in the case of mainboard IPOs and for BSE SME IPOs.

The 24.75 crore issue was open for subscription between November 1 and November 3 at a price band in the range of 52-55.

The IPO subscription rate was 288.09 times. The portion for non-institutional investors (NII) was booked about 715.77 times, while the retail investors' category was subscribed to 222.10 times. The quota reserved for qualified institutional bidders (QIBs) was subscribed to 77 times during the bidding process.

Here's how you can check the allotment status on the registrar's website:

1) Go to the website of Skyline Financial Services Private.

2) Click on ‘Company Selection’ and then select the IPO name.

3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.

4) Click on ‘Search’.

The status will only appear after allotment if the details are entered correctly. Bidders who could not get allotment in the IPO will see the initiation of refunds. Others, who would be allotted shares, will see the credit of shares in the Demat accounts. It is likely to be listed on NSE SME Emerge segment on November 8.

SAR Televenture IPO is completely a fresh issue of 4,500,000 equity shares; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP). MG Metalloy Private Limited is the promoter of the company.

The net proceeds of the issue will be used by the company to finance the installation of 5G/4G towers, the full or partial repayment and/or prepayment of some outstanding secured borrowings, the financing of the company's working capital needs, and general corporate purposes.

The SAR Televenture IPO's book-running lead manager is Pantomath Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd.

SAR Televenture Limited provides telecom network operators with telecom solutions. The company's operations include tower installation and commissioning for 4G and 5G networks, sales of network equipment, and optical fibre cable (OFC) systems. As per the Red Herring Prospectus (RHP), SAR Televenture IPO's listed peers are Suyog Telematics Ltd (with P/E of 17.65), and Kore Digital Ltd (with P/E of 27.39).

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Published: 07 Nov 2023, 06:45 PM IST
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