Premium Plast IPO allotment expected today: Step-by-step guide to check your allotment status online

Premium Plast IPO Allotment: The allotment for Premium Plast IPO is expected to be finalised today. Investors can check their allotment status 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 healthy response from investors, being oversubscribed by 38 times.

Specifically, the retail investors segment was oversubscribed 65 times, while the non-institutional portion was oversubscribed 19.56 times. The QIB portion has also been booked at 6.74 times, as per the exchange data. The IPO price was set between ₹46 and ₹49 per share.

Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on October 25, 2024.

Shares allotted will be credited to investors' demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of October 28, 2024.

The company plans to use the net proceeds from the offer for the expansion of its existing manufacturing facility in Pithampur, Madhya Pradesh, purchasing machinery, funding capital expenditure for setting up a rooftop grid solar power plant at the current manufacturing facility, prepaying or repaying a portion of certain outstanding borrowings, covering general corporate purposes, and meeting offer-related expenses.

Here are the steps to check allotment status online on the register website:

Since Bigshare Services is the registrar for the SME IPO, investors can check the allotment status online on Bigshare Services' website:

Step 1: Go to the registrar Bigshare Services Pvt Ltd's website by clicking on this link: https://www.bigshareonline.com/ipo_Allotment.html

Step 2: Select any of the three servers on the Bigshare website to check the allocation status.

Step 3: Click on company selection, and thereafter, from the dropdown, select the company name 'Premium Plast'.

Step 4: Select from among any one of the following options it asks for: application number, demat account, or PAN number.

Step 5: Enter the details pertaining to the option selected.

Step 6: Hit the Search button and don't forget to enter the Captcha code.

On NSE’s website:

Open the IPO allotment page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Log in with your credentials.

Select Premium Plast., enter your PAN details and application number, and click ‘Submit.’

About Premium Plast

The company is a tier-1 (tier-1 companies are companies that directly supply to original equipment manufacturers automotive component group. It designs, manufactures, and supplies exterior plastic components, interior cabin components, and under-the-hood components to commercial vehicle OEMs directly.

The company manufactures a wide variety of injection and blow-molded plastic articles for a broad group of industries and applications. Its products broadly include automotive parts, plastic industrial components, and packaging components, which cater to a diverse range of industries.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.