Patil Automation IPO booked 41x so far on day 3; here's how to check allotment online

Patil Automation IPO: The initial share sale of Patil Automation received 41.21 times subscription so far on the closing day of bidding on Wednesday, June 18.

The ₹69.61-crore initial public offering (IPO) got bids for 17,10,07,200 shares against 41,49,600 shares on offer, as per NSE data until 2:45 pm.

Customised automation solutions provider Patil Automation is seeking to raise ₹69.61 crore by issuing 58.01 lakh fresh shares.

The initial share sale is priced between ₹114 and ₹120 per equity share, and a lot consists of 1,200 shares.

The money generated will be used for capital expenditure towards establishing a new manufacturing facility, clearing debt, and general corporate purposes.

Manoj Patil, the company's Managing Director, said, "The upcoming IPO is a significant milestone aligned with our long-term vision. The capital raised will be deployed towards setting up a new manufacturing facility, enabling us to meet rising demand, especially in the electric vehicle segment and defence. It will provide financial flexibility to support future growth."

Patil Automation IPO allotment status online on NSE: Step-by-step guide

• Visit this URL: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Select 'PATILAUTOM' from symbols
• Fill in your PAN and application number
• Click on submit

How to check Patil Automation IPO allotment status on Purva Sharegistry India

• Visit the registrar Purva Sharegistry's website using this link: https://www.purvashare.com/investor-service/ipo-query
• Choose ‘Patil Automation’ from the company list
• Enter your PAN card details or application number
• Click on search
• Patil Automation IPO listing

The equity shares of Patil Automation will list on NSE SME on June 23.

Patil Automation is into designing and manufacturing fully automated robotic lines and custom automation solutions for manufacturers in sectors such as automotive, defence, EVs, and agricultural machinery.