Rulka Electricals IPO allotment status likely to be finalised on May 22: Here’s how to check share allocation

Rulka Electricals IPO allotment is likely to be decided on Wednesday, May 22, following a bumper response from investors during the subscription phase.

The ₹26.40-crore initial public offer of Rulka Electricals Ltd opened for subscription on May 16 and closed on May 21. The public offer is a mix of a fresh issue of 8.42 lakh shares and an offer-for-sale (OFS) of 2.81 lakh shares.

After the subscription period, investors are waiting to know their share allocation status, which can be tracked through the official website of the NSE and the registrar portal.

Investors can check their share allotment status only after the company finalises the basis of the share allotment.

Here's how to check the Rulka Electricals IPO allotment status on the registrar Bigshare Services Pvt Ltd's portal:

• Visit registrar 'Bigshare Services Pvt Ltd' website - https://www.bigshareonline.com.
• Click 'IPO allotment status'
• On the new page, choose any one server.
• From the dropdown list for company names select Rulka Electricals
• Select any one of these- PAN/Application number/Beneficiary ID.
• Enter the 'captcha' to verify.
• Hit the 'Search' button to check IPO allotment status.

Steps to check Rulka Electricals IPO allotment status on the NSE:

First, complete the one-time registration process using your PAN. Once registration is done, you will receive an email notification with the login ID and password.

• Visit the NSE IPO allotment status page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with the user ID and password received in the email.
• Enter 'PAN' and your bank account details.
• Hit the 'submit' button.
• Your IPO allotment status will appear on the screen.

After the share allotment is done, the company will issue refunds to those investors who have not been allotted shares on May 23 and credit shares to the Demat accounts of successful bidders on the same day. Subsequently, Rulka Electricals IPO will be listed on the NSE SME platform on May 24, 2024.

Rulka Electricals IPO details

The public issue of Rulka Electricals, an electrical and fire-fighting solutions company, was subscribed a whopping 677 times. The IPO received total bids of 50.6 crore against 7.47 lakh shares available for public subscription.

The portion reserved for non-institutional investors was booked 1350 times, with the retail investors buying their reserved portion 658 times. Qualified institutional investors (QIIs) booked the IPO 204 times in their category.

Rulka Electricals IPO price band was set at ₹223 to ₹235 per share, with a minimum lot size for an application at 600 shares.

Post IPO, Rulka Electricals promoters Rupesh Laxman Kasavkar and Nitin Indrakumar Aher will see their shareholding in the company come down to 69.22% from the existing 86.28%.

The company, incorporated in 2013, is a comprehensive electrical solutions provider across different segments. Rulka Electricals specialises in the design, supply, installation, testing and commissioning of various projects. The company offers services to clients in diverse segments like warehouses, retail stores, theatres, hospitals and hospitality venues.

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