Purv Flexipack IPO allotment expected on March 1: Here’s how to check status

The initial public offering (IPO) of Purv Flexicap Ltd, a small and medium enterprise (SME) that deals in flexible packaging materials, has garnered tremendous response from investors.

The Purv Flexipack IPO was oversubscribed by almost 422 times after the close of three-day bidding on Thursday, February 29. The non-institutional investors’ category was the most subscribed, receiving bids almost 691 times more than the number of shares on offer.

The retail investor category saw an oversubscription of 449 times, while the portion reserved for qualified institutional buyers (QIBs) was subscribed by around 157 times.

Investors who placed bids in the public issue can now check the share allotment status on the official website of the registrar of the issue, i.e. Link Intime India Pvt Ltd.

Here’s a detailed guide on how you can check the status online:

• Visit the official website of Link Intime India at https://www.linkintime.co.in/.
• Click on the ‘Investor Services’ tab on top of the home page and select ‘Public Issues’.
• Under the ‘Select Company’ option, choose ‘Purv Felxicap’ from the dropdown menu. In case the name is not visible there, it means that the allotment status has not been finalised yet.
• After selecting the company’s name, you can enter either your PAN details, IPO application number, Demat account number (DP ID/Client ID) or bank account number and IFSC code as a part of the customer identification process.
• Click on the ‘Submit’ button after you enter one of the four details.

You would be able to check the allotment status of your IPO application on your screen. In case of successful allotment, the status would also display the number of shares allotted.

Bidders who have been successfully allotted shares can expect them to be credited in their demat accounts by Monday, March 4.

Non-successful bidders can expect the refund to be initiated on the same day. The listing of Purv Flexipack shares on the NSE Emerge platform on Tuesday, March 5.

The Purv Flexipack IPO was open for subscription from February 27 to February 29.

The price band for the offer was set in the range of ₹70 to ₹71 per share of face value of ₹10 each. The lot size was 1,600 shares.

The ₹40.21-crore Purv Flexipack IPO comprised a fresh issue of 56.64 lakh equity shares. There was no offer-for-sale (OFS) component.

Incorporated in 2005, Purv Flexicap has been involved in the trading and stockpiling of various flexible packaging materials and related products.

Since 2017, the company expanded its services by becoming a del cred agent of Indian Oil Corp. Ltd for the supply of plastic granules in Kolkata and the surrounding regions.