Polysil Irrigation Systems IPO allotment: Here’s how to check status

Vadodara-based Polysil Irrigation Systems Ltd initial public offering (IPO) has received a solid response from investors in terms of bidding.

After the four-day subscription period that ended on February 13, the Polysil Irrigation Systems IPO was oversubscribed by 6.88 times. The issue received bids for 21 million shares compared to 3.06 million shares on offer.

The non-institutional investors (NIIs) category was subscribed 2.12 times, the quota reserved for retail investors saw a subscription of 11.62 times.

With the closing of the subscription period, Polysil Irrigation Systems Ltd IPO allotment status is expected to be finalised soon. The company is expected to announce the IPO share allotment on Wednesday, February 14.

The investors, who have bid for shares during Polysil Irrigation Systems Ltd IPO subscription, can check the allotment status on the official website of the IPO’s registrar Bigshare Services Pvt. Ltd.

Alternatively, those who subscribe to an SME IPO also usually get alerted about the allotment status by BSE or NSE through email or SMS.

If you want to check the share allotment status online on the registrar’s website, follow the step-by-step guide given below:

Here’s how to check Polysil Irrigation Systems Ltd IPO allotment status:

• Visit https://www.bigshareonline.com/.
• Click on the ‘IPO Allotment Status’ tab on the home page.
• Select any one of the three servers given on the page.
• In the ‘Company Selection’ dropdown menu, select ‘Polysil Irrigation Systems’.
• After you select the company name, enter either your PAN details, or the IPO application number, or the beneficiary ID of your demat account as a part of the customer identification process.
• If you are submitting the beneficiary ID, then you will have to first select one of the two options of NSDL and CDSL (depending on where you have your demat account). Those who have NSDL accounts, should enter DP ID and Client ID. Those with CDSL accounts will have to enter the CDSL number.
• Enter the Captcha as shown on the screen and submit.

You will now be able to see the allotment status on your screen. It will show whether you have been allotted shares and in what quantity. If the name is not visible, it means that the allotment status has not been finalised yet. Check the website again after some time.

In case you have been allotted shares, expect them to be credited in your account by 15 February, Thursday. In case of non-allotment of shares, refunds would be initiated on the same day. The stock is expected to be listed on the NSE SME on Friday, February 16.

Polysil Irrigation Systems IPO subscription status, price band and issue size

Polysil Irrigation Systems is set to raise around ₹17.44 crores via the IPO. The price band for the issue was fixed at ₹54 per equity share, with a minimum bid size of 2,000 shares.

The IPO is a combination of a fresh issue of 1.44 million shares aggregating to ₹7.80 crore and an offer for sale (OFS) of 1.78 million shares aggregating to ₹9.64 crore.

Polysil Irrigation is a fully integrated player within the drip irrigation and sprinkler irrigation sectors. It is a recognised brand in emitting pipe, lateral pipe and HDPE pipes used in micro irrigation systems in India.

The company is a regular supplier of drip irrigation, mini sprinkler irrigation and overhead sprinkler irrigation products to farmers as well as various government and non-government bodies. It aims to become a ₹500 crore turnover company by March 2025.

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