Sai Swami Metals and Alloys IPO share allotment expected on May 6: Check status online

Sai Swami Metals and Alloys IPO allotment is expected to be finalised on Monday, May 6, following a massive 544-time subscription led by strong demand across categories on the final day of bidding.

The ₹15-crore initial public offer of the metals and alloys maker opened for public subscription on April 30 and closed on May 3.

Post the IPO share allotment, the successful bidders will be able to check the share allocation details online.

Sai Swami Metals and Alloys IPO allotment status can be checked online through the BSE website and the registrar’s portal. Big Share Services Pvt Ltd is the registrar to the IPO.

Here’s a step-by-step guide to check IPO allotment status online through BSE and Big Share Services websites

Steps to check allotment status on BSE website

• Open the official website of BSE – https://www.bseindia.com/.
• Go to Public Issue section and click on ‘Status of Issue Applications’ link.
• Choose Equity as the ‘Issue Type’.
• Select the IPO name 'Sai Swami Metals and Alloys' from the dropdown list.
• Input your IPO application number or PAN number
• Click on 'Search'.
• Now the Allotment details will be shown on your screen.

Check allotment status on registrar Big Share Services website

• Go to registrar portal - www.bigshareonline.com.
• Click on the IPO allotment status tab.
• Choose any of the servers from Server 1,2,3
• Select ‘Sai Swami Metals and Alloys’ from the drop down list for company names.
• Enter PAN or Application Id.
• Enter the Captcha.

It’s important to note that the company name and the share allocation details will only appear on screen only after the IPO share allotment status is finalised by Sai Swami Metals and Alloys.

Sai Swami Metals and Alloys IPO listing date and other details

Sai Swami Metals and Alloys IPO was booked 544 times during its three-day bidding which ended on May 3. The issue received bids for 128.98 crore equity shares against the 23.72 lakh equity shares on offer for subscription, as per BSE data.

Sai Swami Metals and Alloys IPO shares will be listed on BSE SME platform, with its tentative listing date being fixed as May 8.

The company was incorporated in 2022, and trades in an array of stainless steel products. The company is a producer of stainless steel kitchenware such as casseroles, water bottles, and other utensils.

As of December 31st, 2023, the company had a network of 6 distributors and more than 150 sub-dealers/stockiest/retailers and strategic alliances in the states of Gujarat, Madhya Pradesh, Maharashtra, among others.

The company plans to use the proceeds of the IPO for meeting incremental working capital requirements, investments in subsidiary, buying machinery and for other general corporate purposes.

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