Premium Plast IPO allotment: Steps to check status online on Bigshare Services, NSE

Premium Plast IPO allotment status: Auto parts and engineering plastic components manufacturer Premium Plast Limited is expected to finalise the share allotment status on Thursday, October 24.

Successful bidders will be updated about the IPO share allotment status through SMS and emails. However, investors can easily check the allotment status on the websites of IPO registrar Bigshare Services Pvt Ltd and the NSE.

How to check Premium Plast allotment status on Bigshare Services

• Go to the Bigshare Services Pvt Ltd website at https://www.bigshareonline.com
• Click on IPO allotment status
• Select any server from the 3 options
• Choose Premium Plast Ltd from the list for company names
• Select any of these- Application number, PAN and beneficiary ID
• Enter details
• Complete the 'captcha' to verify
• Click the 'Search' button to check the allotment status

Steps to check Premium Plast allotment status on NSE website

• Open the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password. New investors need to register on the NSE website before checking the IPO allotment status.
• Select Premium Plast Ltd
• Verify PAN Number
• Enter IPO application Number
• Click on Submit

It’s important to note that the IPO allotment details will be available only after finalisation of share allocation by Premium Plast Limited.

Premium Plast will initiate refunds and credit of shares to the Demat accounts on Friday, October 25.

The IPO listing date has been tentatively fixed as October 28. Shares of Premium Plast Limited will be listed on the NSE SME platform, Emerge.

Premium Plast IPO subscription

According to exchange data, the IPO garnered bids for more than 19.75 crore shares against 50.76 lakh shares on offer.

Among investor categories, the retail portion was subscribed 65.36 times. Applications for more than 14.92 crore shares were received against 22.83 lakh shares on offer. The Non-Institutional Investors’ (NIIs) category was booked 17.51 times. Bids for around 4 crore shares were received against 22.83 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) booked their quota 6.73 times with bids for 34.35 lakh shares compared to 5.1 lakh shares reserved for them.

Premium Plast IPO details

The ₹26.2-crore public offer Premium Plast was a book built issue comprising an entirely fresh issue of 53.46 lakh shares. The IPO price band was fixed at ₹46 to ₹49 per share.

The minimum lot size was 3000 shares and the minimum amount of investment required was ₹1,47,000 for retail investors. Khandwala Securities Limited is the book running lead manager.

Premium Plast IPO objectives

Premium Plast has proposed to use IPO proceeds worth ₹16.55 crore to finance the expansion of its existing manufacturing facility at Pithampur, Madhya Pradesh. The company will also allocate ₹1.04 crore to fund capital expenditure requirements towards a Rooftop Grid Solar Power Plant at the existing manufacturing facility. It will use ₹2.23 crore to prepay or repay all or a portion of certain outstanding borrowings availed by the company.

About Premium Plast Limited

Established in 1995, Premium Plast Limited is primarily engaged in the design, manufacturing, and supply of plastic automotive components to vehicle manufacturers. Its products include automotive parts, industrial plastic parts, and packaging components. As of June 30, 2024, the company employed 39 workers.