Piotex Industries IPO allotment expected on May 15:Here’s how to check status online

The allotment of shares in Piotex Industries IPO will be finalised today, May 15. The public issue received a bumper response from investors during the bidding process between May 10 and May 14. Piotex Industries IPO was subscribed 107.49 times with bids for 15.71 crore shares against 14.61 lakh shares on offer, BSE data showed.

The non-institutional investor portion of the public issue was subscribed 115.51 times. The company received bids for over 8.42 crore shares compared to 7.3 lakh shares on offer.

The retail allocation in Piotex Industries IPO also saw an enthusiastic response from investors, getting subscribed 93.32 times. Investors applied for 6.82 crore shares.

The company received bids for more than 46.39 lakh shares in the qualified institutional buyers (QIBs) category.

Investors who submitted bids in Piotex Industries IPO can check the allotment status online via the official website of the public issue's registrar – Cameo Corporate Services Limited. The allotment data shall also be made available online via the website of BSE.

How to check the allotment status of Piotex Industries IPO?

How to check the allotment status of Piotex Industries IPO via BSE?

Following the successful allotment, the company will initiate the credit of shares into the demat account of successful bidders on May 16 along with refunds for the non-allottees.

Piotex Industries shares are scheduled to make a debut on the BSE SME platform on May 17.

Piotex Industries IPO details

Piotex Industries IPO consists of a fresh issue of 15.4 lakh shares of a face value of ₹10 each, aggregating to ₹14.47 crore. The company has set the IPO's price band at ₹94 per share with a minimum lot size for an application at 1,200 shares. At this price, retail investors needed to make a minimum investment of ₹1,12,800. For high-net-worth individuals, the minimum investment is two lots, or 2,400 shares, amounting to an investment of ₹2,25,600.

Beeline Capital Advisors Pvt Ltd is the sole book-running lead manager for the IPO.

The company will use net proceeds from the IPO to fund its working capital requirements and general corporate purposes.

Piotex Industries is engaged in the business of manufacturing and trading yarns, fabrics and cotton bales. Incorporated in 2009, the company caters to different industries including apparel and textiles. Piotex Industries also operates through an outsourcing model for manufacturing cotton yarn.