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Business News/ Markets / Stock Markets/  Thaai Casting IPO allotment finalised; here's how to check allotment status of your shares
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Thaai Casting IPO allotment finalised; here's how to check allotment status of your shares

Thaai Casting IPO: The firm specializing in automobile components, saw robust IPO response. Estimated listing price at ₹147 per share, 91% higher than issue price.

Thai Casting Limited is an automobile auxiliary firm that specialises in precision machining of ferrous and non-ferrous materials, induction heating and quenching, and high-pressure die casting.Premium
Thai Casting Limited is an automobile auxiliary firm that specialises in precision machining of ferrous and non-ferrous materials, induction heating and quenching, and high-pressure die casting.

Thaai Casting IPO Allotment: Thaai Casting's initial public offering (IPO) witnessed robust investor participation throughout the three-day bidding period from February 15 to February 20. The IPO garnered an exceptional response across all investor categories, witnessing a subscription rate of 375 times. 

The allotment for Thaai Casting IPO has been finalised. Investors can check their allotment status on the registrar, Purva Sharegistry India website. The book-running lead manager is GYR Capital Advisors Private Limited. Market makers Giriraj Stock Broking and Commodity Mandi are in charge of the Thaai Casting IPO.

Given the oversubscription in the retail category, the allocation of shares to Retail Individual Investors (RII) will be done on a proportionate basis. For those investors who don't receive an allotment, Thaai Casting will initiate the refund process of the application money on February 21, 2024.

Concurrently, investors who were allotted shares will see them credited to their demat accounts on the same day following the refund.

The company shares are set to be listed on NSE SME, with the tentative listing date being February 23, 2024.

IPO Details

The IPO size was 47.20 crore, and the company set the price band at 73–77 apiece. The offering consists entirely of fresh shares, totaling 61.3 lakh shares. As per the Red-Herring prospectus (RHP), the company's listed peers are Endurance Technologie and Electro Steel Casting. 

Steps to check the IPO allotment status on Purva Sharegistry India

1. Visit the Purva Sharegistry India Pvt Ltd website: https://www.purvashare.com/investor-service/ipo-query

2. Select "Thaai Casting Limited IPO" from the drop-down list on the IPO Query page.

3. Choose and enter your application number or PAN number.

4. Click on the "Search" button.

Thaai Casting IPO GMP today

Thaai Casting GMP today, or grey market premium today, is 70 per share, according to stock market observers. Considering the upper end of the IPO price band of 77 and the current premium in the grey market, the estimated listing price of Thaai Casting's share price is 147 apiece, which is 91% higher than the issue price.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

About Company 

Thai Casting Limited is an automobile auxiliary firm that specialises in precision machining of ferrous and non-ferrous materials, induction heating and quenching, and high-pressure die casting.

Its business model is firmly rooted in a B2B approach, catering to leading entities in the automotive components sector. The company's product portfolio encompasses a diverse range of automobile components, including engine mounting support brackets, transmission mounts, fork shaft and housing, armature, steering wheel, electrical connectors, YFG base frame (right-hand drive side/Left-hand drive side), housing, top cover, and more.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

 

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Published: 21 Feb 2024, 02:45 PM IST
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