As per the IPO prospectus, the refund process would be initiated on Wednesday. The credit of shares to demat accounts will be done on Thursday, and the stock is likely to be listed by Friday.
Investors can check the website of the issue registrar, Kfin Technologies, to see if they have received the shares of the company they applied for.
The website of the registrar will seek certain information. On the page for allotment status, investors can use their application ID or PAN ID to check their allotment status.
The registrar is a Sebi-registered entity which electronically processes all applications and carries out the allotment process as per the prospectus.
It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch and uploading of refunds, and attending to all investor-related queries after the issue is completed.
Investors can also check their allotment status for the IPO on the website of BSE.
The IPO drew a strong response from investors last week as it was oversubscribed several times with retail and high net-worth individuals driving the interest.
The retail portion of the issue was subscribed 3.6 times while the quota reserved for qualified institutional bidders (QIBs) got subscribed 3.8 times. However, the high net worth individual segment was subscribed only 2.67 times.
The Rs 4,633-crore IPO received bids for 432 crore shares against the issue size of 124.75 crore shares.
The IPO of the first government-owned non-banking financial company (NBFC) comprised a fresh issue of up to 118.80 crore shares and an offer for sale (OFS) of 59.402 shares, are being sold in the price band of Rs 25-26 apiece.
Analysts said that the asking valuation at the upper limit of the price band at price to book value (P/BV) of one time was attractive, considering the company’s strong profitability growth of 26.3 per cent during FY18-FY20, its double-digit return on equity (RoE) of 12.2 per cent in FY21, and the low risk profile of the business with zero gross non-performing assets (NPAs).
Download The Economic Times News App to get Daily Market Updates & Live Business News.
36 Comments on this Story
Rashid Kohli30 days ago
drbinagoel govind kumar goel31 days ago
I applied for ONE LOT of 575 shares and allotted
575 shares-DR GOVIND KUMAR GOEL,INDORE DTD 31 JAN
SANDEEP34 days ago
There is definitely some issue in allotment process.
I had placed a bid for 7475 shares at Max. IPO Price Band i.e. Rs. 26 for IRFC IPO.
However, as per the trailing email only 575 shares (i.e. 1 lot), has been allotted to me.
I am aware that the subscription in retail investors was 3.6 times.
Considering the same, i should have been alloted 2491 shares
Accordingly, i should have received more shares for IRFC, whereas i have received only 575 shares.
Kfin, must clear the confusion.
I had written to KFin also, received no reply yet.