HM Electro Mech IPO allotment: Here’s how to check status on BSE, Cameo Corporate Services

HM Electro Mech IPO allotment status is scheduled to be finalised on Wednesday, January 29, after the public offer closed with strong demand.

The initial public offering of the infrastructure company was subscribed more than 93 times on the last day, driven by high demand from the non-institutional investors (NIIs). The ₹27.74-crore BSE SME issue was open for bidding from January 24 to January 28.

The investors across categories applied for over 23 crore shares against 24.6 lakh shares on offer, leading to an overall subscription of 93.54 times.

The retail investors applied for over 12.02 crore shares compared to 12.3 lakh shares set aside for them. The retail quota was booked 97.73 times. The NIIs placed bids for over 9.73 crore shares against 5.28 lakh shares reserved for the category, leading to a subscription of 184.34 times. The qualified institutional buyers (QIBs) booked their segment nearly 18 times with bids for more than 1.26 crore shares against the allocation of 7.02 lakh shares.

Following the closure of the subscription window, the investors are now waiting for the IPO share allotment status to be finalised by the company. HM Electro Mech will inform the successful bidders about share allocation through emails and SMS after completing the process. The IPO bidders can check the share allotment status on the websites of the BSE and Cameo Corporate Services, the issue registrar.

How to check HM Electro Mech IPO allotment status on registrar’s website

• Go to the IPO allotment status page on the official portal of the issue registrar: https://ipo.cameoindia.com/
• Select any of the ‘Links’ from 3 options
• On the new page select HM Electro Mech from the dropdown list for company names (Name will appear after finalisation of the allotment status)
• Enter details of PAN or Application Number
• Enter the Captcha code for verification
• Click on ‘Submit’ to check the status

Steps to check HM Electro Mech IPO allotment status on BSE

• Open the BSE IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx
• Click on ‘Equity’ as the issue type
• Select HM Electro Mech as the ‘Issue Name’
• Enter PAN or Application Number
• Click Submit

After finalising the IPO share allotment status, the company will initiate refunds and transfer of shares to the Demat accounts on January 30.

HM Electro Mech IPO key details

• The book-building issue comprised entirely a fresh issue of 36.99 lakh shares.
• The IPI price band was fixed at ₹71 to ₹75 per share.
• The minimum lot size for an application was 1,600 shares.
• The retail investors were allowed to apply for at least a single lot size, aggregating to a minimum investment of ₹1,20,000.
• Shares of HM Electro Mech are scheduled to be listed on the BSE SME platform on January 31.

About HM Electro Mech Ltd and use of IPO proceeds

HM Electro Mech Ltd, incorporated in 2003, is a leading player in the infrastructure industry. The company specialises in turnkey projects pertaining to the supply, installation, testing and commissioning of pumping machinery. It also offers operation and maintenance (O&M) services for such projects. The company undertakes electrification projects for Indian Railways, banks and civic bodies. Its engineering, procurement and construction (EPC) business division deals with laying cross-country pipelines and civil work for water supply projects.

The company mostly works with state and central government bodies and municipal corporations. It has completed projects in Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Punjab, and Chandigarh.

The company has proposed to use the IPO proceeds for working capital needs and general corporate purposes.

HM Electro Mech financials

Key Performance Indicator