3C IT Solutions and Telecoms IPO allotment status likely on June 10: Here’s how to check allocation on BSE, Skyline Financial Services

The initial public offering (IPO) of the IT systems integration company 3C IT Solutions and Telecoms Ltd closed for subscription on June 7, with a strong demand for the shares. The BSE SME IPO was booked more than 20 times.

The 3C IT Solutions and Telecoms IPO subscription window was open from June 4 to June 7.

Investors are now eagerly waiting for the 3C IT Solutions and Telecoms IPO share allotment status, which is expected to be finalised on Monday, June 10.

After the share allotment status is finalised refunds will be initiated for unsuccessful bidders and shares will be credited to the Demat accounts of successful bidders on Tuesday, June 11. The listing of 3C IT Solutions and Telecoms IPO’s shares is likely to happen on Wednesday, June 12.

Investors can check the share allotment status of 3C IT Solutions and Telecoms IPO online by visiting either the BSE website or the website of the registrar Skyline Financial Services Private Ltd.

How to check 3C IT Solutions and Telecoms Technologies IPO share allotment status on registrar website:

• Visit the official website of Skyline Financial Services at https://www.skylinerta.com/
• Click on the ‘Public Issues’ tab
• Select ‘3C IT Solutions and Telecoms Technologies’ from the drop down menu
• Enter any one of these: Client ID details/Application Number/PAN
• Click the 'Search' button.

It’s important to note that the name of the company and share allocation details can be checked by the investors only after the company finalises the allotment status.

Steps to check 3C IT Solutions and Telecoms Technologies IPO allotment status on the BSE website:

• Visit the official website of BSE using this link - https://www.bseindia.com/
• Click on the Public Issues tab
• Click on the ‘Status of Issue Application’ link
• Choose 'Equity' as the issue type
• Select ‘3C IT Solutions and Telecoms Technologies' from the dropdown menu
• Enter your IPO application number or PAN.
• Click on the 'I'm not a robot' popup.
• Click on the 'Search' button.
• Your share allotment status will be displayed on the screen.

3C IT Solutions and Telecoms IPO details

3C IT Solutions and Telecoms IPO saw decent demand and received bids for more than 4.23 crore shares compared to the 20.88 lakh shares offered to investors, leading to an overall subscription of 20.34 times.

The demand for the IT company’s shares was driven by the retail category as they placed bids for over 3.1 crore shares, compared to 10.44 lakh shares set aside for the category, leading to a subscription of 29.78 times.

Non-institutional investors’ bid for more than 1.12 crore shares compared to the 10.44 lakh shares reserved for NIIs, leading to a subscription rate of 10.73 times.

Qualified institutional buyers (QIBs) placed bids for 16,000 shares on the final day of bidding.

3C IT Solutions and Telecoms IPO objectives

3C IT Solutions and Telecoms will use the money raised via the IPO for funding the company’s working capital requirements and for the repayment and prepayment of the company’s borrowings. The proceeds of the public issue will also be used for funding general corporate purposes.

About 3C IT Solutions and Telecoms

3C IT Solutions and Telecoms is an IT systems integration company primarily engaged in offering IT products and services. The company offers its services in three segments of Infrastructure solutions, digital business solutions, and consulting solutions.

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