Defrail Technologies IPO subscribed 72.68 times so far on Day 3: Check allotment date and steps

Defrail Technologies IPO: The initial share sale of rubber parts and components maker Defrail Technologies has been subscribed 72.68 times so far on the final day of bidding on Tuesday, January 13.

It has received bids for 9,75,71,200 shares as against 13,42,400 shares on offer, according to the data available on the BSE website until 3:05 pm.

The ₹13.77 crore initial public offering is a fresh issuance of 18,60,800 equity shares, with no offer for sale (OFS) component.

The money generated will be used for capital expenditure needs and general corporate purposes. "Our company believes that listing will enhance our company’s corporate image, brand name and create a public market for its equity shares in India," the firm said in its red herring prospectus.

The price band has been set at ₹70 to ₹74 per share. A lot consists of 1,600 shares. Individual investors can apply for a minimum of two lots or 3,200 shares.

Defrail Technologies manufactures rubber parts and components, including rubber hose and assemblies, rubber profiles and readings and rubber moulding parts. Its products are used in industries such as automotive, railways and defence. It assists clients in selecting the right type of product for their applications apart from providing design and customisation options.

Defrail Technologies IPO: Allotment and listing date

Defrail Technologies IPO allotment is likely to be finalised on Wednesday, January 13. Shares of Defrail Technologies are expected to be listed on the BSE SME platform on January 16.

How to check Defrail Technologies IPO allotment status on BSE

• Click on this link: https://bseindia.com/investors/appli_check.aspx.
• Select ‘Equity’ as the issue type
• Select 'Defrail Technologies Ltd' from the issue names
• Add details of your PAN or IPO application number
• Press the 'Search' button

Steps to check Defrail Technologies IPO allotment status on Maashitla

• Visit the IPO allotment status page of registrar: https://maashitla.com/allotment-status/public-issues
• Select 'Defrail Technologies Ltd' from the dropdown list
• Enter either PAN/Application Number/Demat Account Number
• Click on the 'Submit' button to check status

Defrail Technologies IPO GMP

According to media reports and investorgain.com, unlisted shares of Defrail Technologies are trading at ₹82, reflecting a grey market premium of 10.81%, or ₹8, over the upper price band of ₹74.