AVP Infracon IPO share allotment likely to be finalised today: Here’s how to check status
Upstox
3 min read • Updated: March 18, 2024, 11:02 AM
Summary
AVP Infracon is expected to start refunds and Demat transfers on March 19. The company will make its market debut with the listing of shares on NSE Emerge platform on Wednesday, March 20.
AVP Infracon Limited IPO share allotment status is expected to be finalised on Monday, March 18. The road construction company is scheduled to announce the allotment of shares for its initial public offer following the successful close of subscription period.
The public issue received a strong response from investors with a subscription of more than 21 times at the close of bidding on the final day on Friday, March 15.
Investors will be informed about the IPO share allotment on their emails and through SMS. However, investors can easily check the share allotment status on the IPO registrar’s website as well as on NSE. The company is expected to start refunds and Demat transfers on March 19. AVP Infracon will make its market debut with the listing of shares on NSE Emerge platform on Wednesday, March 20.
Steps to check AVP Infracon share allotment status
Follow these steps to check share allotment status on registrar Purva Sharegistry India Private Limited’s website
- Visit Purva Sharegistry India Pvt Ltd website -https://www.purvashare.com/
- Go to investor service
- Click on Check Allotment status
- Select AVP Infracon from the dropdown list
- Fill application No or PAN details
- Search for share allotment or refund amount
Steps to check AVP Infracon IPO share allotment status on NSE website
You need to register yourself on the NSE website and get a username and password for checking the share allotment status. Here’s are the steps to check the share allotment status:
- Go to official NSE website https://www.nseindia.com/
- Login with username and password provided by NSE
- Select AVP Infracon
- Verify PAN No
- Enter IPO application No
- Click on Submit
AVP Infracon IPO subscription and other details
AVP Infracon Ltd hit the capital market on March 13 to raise around ₹52.34 crore from public investors. The issue comprised a fresh issue of a fresh issue of 69.79 lakh shares. The IPO price band was fixed at ₹71-75 per share while the lot size was 1,600 shares.
At the close of the bidding on March 15, the public offer was subscribed 21.45 times. A total of 9,39,18,400 bids were received against 4,377,600 equity shares on offer.
Qualified institutional buyers' (QIBs) portion was fully subscribed while the non-institutional investors’ (NIIs) segment was booked 46.15 times. Retail investors showed keen interest with the category subscribing by 22 times.
The company raised ₹14 crore from anchor investors by allotting 18.70 lakh shares at a price of ₹75 per share ahead of the launch of the public issue.
The company has proposed to utilise the IPO proceeds to purchase capital equipment, financing its working capital requirements and meeting general corporate purposes.
About AVP Infracon
AVP Infracon, founded in 2009, is involved in road construction projects based on Bill of Quantities (BOQ) and Engineering, Procurement, and Construction (EPC) methods.
It is involved in all types of infrastructure developmental works, constructions works and high value projects. It constructs Express ways, National Highways, Flyovers, Bridges and Viaducts, Irrigation Projects, Urban Development - civic amenities, Hospitals, warehouses, hotels and other commercial and residential projects.
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