Tipco Engineering IPO allotment to be finalised today. Check steps to track status, GMP, and other details

Tipco Engineering IPO allotment: The allotment for Tipco Engineering's initial public offering (IPO) is all set to be finalised on Friday, March 27. The SME IPO was open for subscription from March 23 to March 25.

Investors who placed their bid can check their allotment status today. Meanwhile, the shares of Tipco Engineering will list on BSE SME on April 1.

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

Tipco Engineering India IPO was subscribed 1.5 times overall. By the end of day 3, the issue 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.

How to check the allotment status of Tipco Engineering IPO?

Investors can check the IPO allotment status on the registrar Maashitla’s website or through the BSE website.

Steps to check IPO allotment on Maashitla

1. Open the Maashitla Securities Pvt. Ltd. website: https://www.maashitla.com/allotment-status/public-issues
2. Choose the IPO name ‘Tipco Engineering’ from the drop-down menu on the page.
3. Enter the required details such as your PAN, application number, or demat account number.
4. Click on the ‘Search’ button to view your allotment status on the screen.

Steps to check IPO allotment on BSE

1. Go to the BSE India IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx
2. Choose the issue type (equity or debt).
3. Select ‘Tipco Engineering’ from the drop-down list.
4. Enter the required details, such as your PAN or application number.
5. Click on the ‘Search’ button to view your allotment status on the screen.

Tipco Engineering IPO GMP today

The shares of Tipco Engineering IPO were trading at a premium of ₹0 in the grey market. This means that the GMP of Tipco Engineering IPO is +0, according to Investorgain.

The estimated listing price of Tipco Engineering IPO is likely to be the same as the IPO price.

Tipco Engineering IPO details

The ₹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.

The company intends to utilise ₹30 crore from the fresh issue proceeds toward repayment or prepayment of certain borrowings, ₹7.66 crore for working capital requirements, and the remaining amount for general corporate purposes.

Smart Horizon Capital Advisors is acting as the book-running lead manager for the issue, while Maashitla Securities has been appointed as the registrar.

Tipco Engineering is engaged in the manufacturing and supply of a wide range of plants and machinery, with its offerings primarily spanning the Mill Series, Disperser Series, and Homogeniser Series.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.