Pratham EPC Projects IPO allotment expected on March 14: Here's how you can check status online
Upstox
3 min read • Updated: March 14, 2024, 12:12 PM
Summary
After the allotment of the shares, Pratham EPC Projects will initiate refunds to non-allottees and also credit shares to the Demat accounts of successful bidders on March 15. Shares of Pratham EPC Projects are tentatively scheduled to be listed on NSE Emerge on March 18.
Pratham EPC Projects IPO closed for bidding on Wednesday, March 13, after receiving strong interest from investors during its three-day subscription window. The investors, who participated in the bidding for the initial public offer, are now waiting for the allotment of shares.
Pratham EPC Projects IPO share allotment is to be finalised on Thursday, March 14.
After the basis of IPO share allotment is finalised today, the company will initiate refunds to non-allottees of shares on Friday, March 15, and the shares will be credited to the Demat accounts of successful applicants on the same day. Shares of Pratham EPC Projects will be listed on NSE SME on Monday, March 18, 2024.
The IPO allotment status, which will be finalised today, can be checked online through the registrar's website. Link Intime India is the registrar to the issue.
Here are the steps to check the Pratham EPC Projects IPO allotment status on the Link Intime India portal:
- Go to Link Intime India website -- https://www.linkintime.co.in/
- Visit 'Investor Services' section
- Select 'Public Issues' from the drop-down list
- Select 'Company' from the list
- Enter PAN/Application Number/DP Client ID/Account No./IFSC
- Click 'Submit' button
- Allotment status will appear on screen.
Steps to check Pratham EPC Projects IPO shae allotment status on the NSE website:
- Visit the NSE website - https://www.nseindia.com
- Register and get username and password
- Log in using the username and password
- Select company name from the dropdown list
- Verify PAN Number and enter Application Number
- Click on the 'Submit' button
- Allotment status will appear on the computer screen.
Once the allotment is finalised, investors will be able to see the number of shares allotted to them as well as the total number of shares they bid for. The details of IPO share allotment will appear onscreen only after Pratham EPC Projects finalises the allotment.
Pratham EPC Projects IPO Details
Pratham EPC Projects Limited IPO received an overwhelming response from subscribers, being oversubscribed 178.61 times by the end of the final day of subscription. The issue received bids for 57,04,30,400 shares against 31,93,600 shares on offer, as per NSE data.
The issue was subscribed over 320 times in the non-institutional investors' (NIIs) category. The portion reserved for retail investors saw 179 times oversubscription while in the qualified institutional buyers’ (QIBs) category, the issue was booked 70.28 times. Pratham EPC Projects raised ₹10.25 crore from anchor investors by issuing 1,366,400 shares (28.47% of total offer) on March 13, 2024.
About Pratham EPC Projects
Started in 2014, Pratham EPC Projects Limited offers end-to-end services to oil and gas utilities in the country, with specialisations in integrated engineering, procurement, construction, and commissioning.
Its core functions comprise gas pipeline projects, including welding, testing, and commissioning. The company looks after oil and gas pipelines and offshore water distribution projects.
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