Medicamen Organics IPO allotment expected today; steps to check status online

Medicamen Organics IPO allotment: Medicamen Organics Limited IPO, worth ₹10.54 crore, was subscribed a massive 993 times subscription at the end of the bidding process on Tuesday, June 26. The public offer, a book-built issue of 31 lakh shares, was launched on June 21.

With the bidding phase coming to an end, all eyes are on the Medicamen Organics IPO allotment status, which the company is expected to finalise today. Once the basis of the share allotment is finalised, the company will allot shares to successful bidders and move ahead with the listing of IPO shares on NSE.

Investors who participated in the Medicamen Organics IPO can check their allotment status online via the official website of the issue’s registrar, Kfin Technologies Limited. They can also track their allotment status on the NSE.

Steps to check Medicamen Organics IPO allotment status on Kfin Technologies Limited website:

• Go to the registrar portal by logging on to 'Kfintech.com'
• Under the 'products' tab, select 'IPO Allotment Status'
• Select a server link among 5 options available
• Select the IPO name from the drop-down list
• Select Application No./Demat Account/PAN
• Fill in Captcha details
• Click 'Submit'
• Allotment status will appear on the screen

Investors must note that the IPO allotment status can be tracked only after the company has completed the basis of the allotment of shares.

Steps to check Medicamen Organics IPO allotment status on NSE:

To check the allotment status, the investors first need to complete a one-time registration process on the NSE. It can be done by using PAN details. Once the registration process is completed, a login ID and password will be generated and sent to the individual through e-mail.

After registration, these are the steps to follow:

• Go to the NSE website and then the IPO allotment status page - https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Proceed with the 'User ID' and 'Password' received in the e-mail
• Enter 'PAN' and bank details to check the IPO allotment status
• The allotment status of Medicamen Organics IPO will appear on the screen

Once the IPO share allotment status is finalised, the company will initiate the credit of shares into the Demat account of successful bidders and start refunds to non-allottees on Thursday, June 27.

Medicamen Organics Ltd will proceed with the listing of shares on the NSE SME platform. The tentative listing date is fixed as June 28.

Medicamen Organics IPO Subscription

Medicamen Organics Limited's IPO received an overwhelming response from investors during the three-day bidding period. The public offer was booked nearly 994 times by the end of the final day of bidding. Medicamen Organics received bids for nearly 204 crore shares against the 20.52 lakh shares on offer.

Under the retail category, the IPO was booked 1,310 times, with bids for 134.64 crore shares over 10.28 lakh shares available for subscription. The Qualified Institutional Buyers (QIBs) category saw 173 times subscriptions, with investors sending applications for 10.10 crore shares against 5.84 lakh shares on offer. The

Non-Institutional Investors' (NIIs) category was booked 1,344 times. Under this segment, bids were received for 59.12 crore shares against 4.4 lakh shares allocated under the category.

Medicamen Organics IPO details

Medicamen Organics IPO had fixed the price band in the range of ₹32 to ₹34. The minimum lot size for an application was set at 4,000 shares, which warranted a minimum investment of ₹1.36 lakh from retail investors.

Medicamen Organics Limited is expected to use the IPO proceeds to fund expenses for product registration in global markets, enhance its plant production capacity, and meet other working capital requirements. The company will also use the funds for general corporate purposes.

Established in 1995, Medicamen Organics Ltd is into manufacturing and distribution of a range of pharma products, including generic tablets, oral liquids, ointments, syrups, suspensions and dry powders.

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