MVK Agro Food IPO share allotment expected on March 5: Follow these steps to know status

MVK Agro Food IPO share allotment is expected to be finalised on Tuesday, March 5. The initial public offer (IPO) closed with a strong subscription as the public issue received bids of over 8.5 times on the final day on Monday.

The integrated sugar manufacturer received bids for over 4.46 crore shares as against 52,15,200 shares on offer for public investors. The IPO was oversubscribed across all investor categories.

MVK Agro Food intends to raise ₹65.88 crore through a fresh issue of 54.9 lakh shares, including a market maker portion of 2,748,00 shares, at a fixed price of ₹120 of face value of ₹10 apiece.

Investors who have submitted their bids in the public issue can check the allotment status online via the official website of the registrar-- Mas Services Limited.

Here’s how to check MVK Agro Food IPO allotment status

• Log on to the official website of Mas Services-- https://www.masserv.com/index.asp
• On the home page, click on the 'IPO Allotment Status’ link.
• You will be redirected to a new page displaying the name of the IPO. The name will appear on the screen only after the finalisation of share allotment.
• Click on ‘Search on Dp_id/Client id’ or ‘Search on PAN No’ option to proceed with your request,
• Enter the required credential and click on search.

Your MVK Agro Food IPO share allotment will be displayed on the screen. In case of final allotments, the number of shares allotted will also be displayed on the screen.

Credit of shares into the Demat account of the successful bidders will begin on Wednesday, March 6. The company will also initiate refunds for non-allottees on the same day. MVK Agro Food shares are set to be listed on the National Stock Exchange's SME platform, NSE Emerge on March 7.

MVK Agro Food IPO details

MVK Agro Food IPO comprised a fresh issue of 54,90,000 shares, including a market maker portion of 2,74,800 equity shares. There was no offer for sale (OFS) portion from promoters or existing stakeholders of the company.

MVK Agro Food is a manufacturer of integrated sugar and other related products. The company has a licensed crushing capacity of 2,500 TCD. It sells its by-products, Molasses, Bagasse, and Pressmud to export houses such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited and Britannia Industries Limited through brokers.

MVK Agro Food is also involved in the business of supplying critical commodities to export-oriented traders and star export houses including Sakuma Exports, Indian Sugar Exim Corporation, Garden Court and HRMM Agro Overseas.