Divyadhan Recycling Industries IPO allotment: Here’s how to check status on NSE, Skyline Financial Services

Divyadhan Recycling Industries Limited IPO share allotment status is expected to be finalised on Tuesday, October 1, after the public offer closed with a strong demand.

The ₹24.17-crore initial public offering (IPO) of the recycled polyester staple fibre manufacturer was open for subscription from September 26 to September 30.

The NSE SME issue was subscribed 41 times on the final day of bidding, with investors applying for 10.27 crore shares against 25.06 lakh shares on offer.

The retail segment was booked 32.43 times as investors applied for 4.06 crore shares as compared to the 12.52 lakh shares set aside for the category. The IPO was subscribed 76.4 times in the Non-Institutional Investors’ (NIIs) category. Investors in this category bid for 4.11 crore shares against the 5.38 lakh shares set aside for them.

Investors who are waiting for Divyadhan Recycling Industries' IPO share allotment can check the status online on the websites of the NSE and the issue registrar, Skyline Financial Services Private Ltd.

Here’s how to check Divyadhan Recycling Industries IPO allotment status on registrar’s website:

• Go to the official website of the registrar Skyline Financial Services Private Limited at https://www.skylinerta.com/ipo.php
• Under the check application status sector, from the dropdown menu for company names select
• Divyadhan Recycling Industries
• Choose any one of these— DP ID/Client ID, Application Number or PAN
• Enter your details as per your selection
• Click on the Search button to view the allotment status

Steps to check Divyadhan Recycling Industries IPO share allotment status on NSE website

• Visit the NSE IPO allotment status page (www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp).
• Login with your username and password. Register on the NSE website if you do not have an account.
• Select Divyadhan Recycling Industries from the drop down menu under Issue Name.
• Verify your PAN
• Enter the IPO Application Number
• Hit the ‘Submit’ button to view the details of share allotment

Divyadhan Recycling Industries IPO objectives

Divyadhan Recycling Industries plans to use the proceeds from the IPO to meet its capital expenditure and for general corporate purposes. A portion of the funds will also be used for issue expenses.

Divyadhan Recycling Industries IPO details

Divyadhan Recycling Industries IPO comprised an entirely fresh issue of 37.76 lakh shares worth ₹24.17 crore.

Divyadhan Recycling Industries IPO price band was set at ₹60 to ₹54 per share. The minimum lot size for retail investors was set at 2,000 shares, meaning they had to invest a minimum of ₹1,28,000 to apply for the IPO.

Narnolia Financial Services Limited was the book-running lead manager for the IPO. Kantilal Chhaganlal Securities was the market maker for the Divyadhan Recycling Industries IPO.

After the IPO share allotment, the company will initiate refunds for non-allottees on October 3, and shares will be transferred to the accounts of successful bidders the same day.

Divyadhan Recycling Industries shares are scheduled to be listed on the NSE SME platform Emerge on October 4.

About Divyadhan Recycling Industries Limited

Divyadhan Recycling Industries Limited, incorporated in May 2010, is primarily engaged in the manufacturing of Recycled Polyester Staple Fibre (R-PSF) and recycled pellets. The company’s manufacturing unit is situated in Solan, Himachal Pradesh. The manufacturing unit has a total capacity of 8,030 metric tonnes per annum for fibre and 4,320 metric tonnes per annum for pellets.