Associated Coaters IPO allotment expected on June 4: Check status on BSE, Bigshare Services

Associated Coaters IPO allotment is expected to be finalised on Tuesday, June 4, following an overwhelming response during the subscription period.

The three-day subscription window for the initial public offer of Associated Coaters closed on Monday, June 3. The SME IPO, worth ₹5.11 crore, is entirely a fresh issue of 4.22 lakh shares of a face value of ₹10 each.

The public issue was subscribed over 371 times on the final day of bidding on Monday.

Once the company finalises the basis of allotment of shares, investors will be able to check the allotment status online through the official websites of IPO registrar, Bigshare Services Pvt Ltd, and the BSE.

Here's how to check the allotment status online through Bigshare Services Pvt Ltd website:

1. Visit Bigshare Services Pvt Ltd website – https://www.bigshareonline.com
2. Select a server from several options available.
3. Click 'IPO allotment status'
4. Click Associated Coaters IPO from the dropdown menu.
5. Enter 'Application No./PAN
6. Fill 'captcha' to verify
7. Click 'Search' button
8. Allotment status will appear on the screen

Steps to check Associated Coaters IPO share allotment status on the BSE:

1. Visit BSE site - https://www.bseindia.com/index.html.
2. Go to the 'Investors' section on the home page.
3. Click on 'Status of Issue Application' under the ‘Investor Services’ section
4. Click on the 'Status Check' link
5. A new page opens - https://www.bseindia.com/investors/appli_check.aspx
6. Select 'Issue Type' as 'Equity' and IPO from the drop down menu for 'Issue Name'
7. Enter Application Number/PAN.
8. Hit the 'Search Button', and allotment status will appear on the screen.

The IPO share allotment status can be tracked only after the company finalises the basis of allotment. Successful bidders will also see the number of shares allotted to them against the number of shares they applied for.

After the allotment of shares, the company will refund money to non-allottees of shares on June 5 and also credit shares to the Demat accounts of successful bidders on the same day. Associated Coaters is expected to list the IPO shares on BSE SME platform on June 6, 2024.

Associated Coaters IPO subscription details

Associated Coaters IPO saw strong demand in the retail and NIIs categories. The IPO of Associated Coaters Ltd received bids for over 13 crore shares against 3.56 lakh shares offered, resulting in 371.32 times subscription, the BSE data showed.

In the retail segment, the IPO was booked 495 times with applications for 8.81 crore shares against 1.78 lakh shares on offer. The non-institutional investors’ (NIIs) portion was booked 240 times, sending bids for more than 4.27 crore shares against 1.78 lakh shares offered under the category. Qualified institutional buyers (QIBs) category received applications for 13.62 lakh shares.

Associated Coaters IPO price band was fixed at ₹121 per share and the minimum lot size for an application was 1,000 shares.

About Associated Coaters

Set up in 2017, Associated Coaters specialises in pre-treatment and powder coating services for aluminum extrusions. It is primarily catering to the real estate sector. With an annual capacity of 1,200 metric tons, the company's facilities comprise an automatic coating plant and a manual coating plant.