Marushika Technology IPO subscribed 14.71 times so far on Day 3; check allotment date and steps

Marushika Technology IPO: The initial public offering of Marushika Technology has been subscribed 14.71 times so far on the final day of bidding on Monday, February 16.

It got bids for 2,43,32,400 shares as against 16,53,600 shares on offer, according to the National Stock Exchange (NSE) data until 3:28 pm.

The ₹26.97 crore initial share sale, with a price band of ₹111 to ₹117 per share, is exclusively a fresh issuance of 23,05,200 shares, with no offer for sale (OFS) component.

The fresh issue proceeds will be utilised for repayment of certain borrowings, funding working capital requirements and corporate general 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 exchange filing.

Marushika Technology is engaged in the distribution of IT and telecom infrastructure products. It offers an array of IT products and services to its clients in establishing their data centre's infrastructure, telecom system, active networking, advanced surveillance systems, cybersecurity, data protection and power management. It also provides installation and maintenance services and assists clients in choosing the right type of IT infrastructure for their specific needs.

Marushika Technology IPO: Allotment and listing date

Marushika Technology IPO allotment is likely to take place on Tuesday, February 17. The company's shares will be listed on the NSE SME platform, Energe, on Thursday, February 19.

How to check Marushika Technology IPO allotment status on NSE

• Visit NSE’s allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick the ‘Equity & SME IPO bid details’ option
• From the 'Select Symbol' dropdown, choose ‘MARUSHIKA’
• Enter your PAN details and application number
• Click on submit

Steps to check Marushika Technology IPO allotment status on Skyline Financial Services

• Visit the registrar's official website: http://skylinerta.com/display_ipo_rightissue_allotment.php
• Select 'Marushika Technology' from the dropdown menu
• Add anyone: DPID/Client ID/Folio Number or CAF number or PAN
• Click on ‘Search’

Marushika Technology IPO GMP

According to investorgain.com and media reports, unlisted shares of Marushika Technology Ltd are trading at ₹119, reflecting a grey market premium of 1.71% over the upper price band of ₹117.