Vinit Mobile IPO allotment: Latest GMP, steps to check allotment status online for SME IPO

Vinit Mobile IPO Allotment: The initial public offering (IPO) of Vinit Mobile saw robust investor participation, and attention has now turned to the IPO allotment date, which is expected to be finalised today, July 3.

The issue was open for subscription from June 30 to July 2. With the allotment likely to be completed today, the company is gearing up for its listing on Tuesday, July 7. The company has set price band for the issue at ₹150 to ₹158 per share. Vinit Mobile shares are set to debut on NSE SME.

Once the basis of allotment is determined today, equity shares will be credited to the demat accounts of successful bidders, while refunds for applicants who did not receive an allotment will be processed on Monday, July 6.

Investors can check the Vinit Mobile IPO allotment status online either through the NSE website or via Bigshare Services, the registrar to the issue.

A few simple steps must be followed to access the Vinit Mobile IPO allotment status online.

On NSE

Step 1] Visit allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2] Select 'Equity & SME IPO bid details' on NSE

Step 3] Choose ‘Vinit Mobile’ from the Issue Name dropdown menu

Step 4] Enter your PAN and Application Number

Step 5] Click on Submit.

Your allotment status will be displayed.

On Bigshare Services

Step 1] Visit the web portal of the registrar here - https://www.bigshareonline.com/ipo_allotment.html

Step 2] Select ‘Vinit Mobile’ in the Select Company dropbox

Step 3] Choose among - Application Number/CAF No, Beneficiary ID, or PAN

Step 4] Enter the details as per the option selected

Step 5] Fill the captcha and hit on ‘Search’

Your IPO allotment status will appear on the screen.

Vinit Mobile IPO GMP Today

Vinit Mobile shares are showing moderate activity in the grey market. According to market trackers, the grey market premium (GMP) stands at ₹1 per share today. Based on this premium, the stock is estimated to list at around ₹159 apiece, reflecting just a 0.63% gain over the IPO price of ₹158.

Vinit Mobile IPO Subscription Status,

The IPO was subscribed 1.62 times by end of Day 3. The retail portion was subscribed 2.18 times, while NII portion was booked 0.80 times, and the Qualified Institutional Buyers (QIBs) portion received 1.00 times bids.

The company has received bids for 33.14 lakh shares against 20.52 lakh shares on offer.

Vinit Mobile IPO Details

Vinit Mobile IPO is a book-built issue of ₹34.13 crore. The issue is entirely a fresh issue of 0.22 crore shares aggregating to ₹34.13 crore.

The SME IPO has a price band of ₹150 to ₹158 per share. The lot size for an application is 800 shares. The minimum investment required by an individual retail investor is ₹2,52,800 (1,600 shares), based on the upper end of the price band.

The company proposes to utilise the net proceeds from the issue towards the following objectives - ₹0.62 crore for setting up new stores, ₹23.75 crore towards working capital requirements, and other general corporate purposes.

Comfort Securities Ltd. is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. is the registrar. Comfort Securities Ltd. is also the market maker for the issue.

Incorporated in 2011, Vinit Mobile is a multi-brand mobile retail business. The company offers a wide range of mobile phones from leading brands such as Apple, Samsung, Vivo, Oppo, Xiaomi, Realme, Motorola, and OnePlus. In addition, its stores sell tablets, data cards, and mobile accessories, including earphones, chargers, power banks, screen guards, and mobile covers.

As of the date of its Red Herring Prospectus (RHP), the company operates 35 company-owned and company-operated (COCO) retail stores across the Surat district, including Pandesara, Kadodara, Sachin, Amroli, Hazira, Sayan, Saroli, and Nilgiri.

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