Sati Poly Plast IPO allotment likely to be finalised today: Steps to check status on NSE, Link Intime

Flexible packaging material producer Sati Poly Plast Ltd is expected to finalise the share allotment status on Thursday, July 18. The company's NSE SME IPO received a robust response from public investors, who are now waiting for the share allotment.

Sati Poly Plast IPO, the ₹17.36-crore public offer, comprised a fresh issue of 13.35 lakh shares. The IPO opened for bidding on July 12 and closed on July 16. The company had fixed the IPO price band at ₹123 to ₹130 per share. The minimum lot size was 1,000 shares. The minimum amount of investment was ₹1,30,000 for retail investors.

After a robust subscription of around 499 times, the company is scheduled to finalise the share allotment status on July 18. Investors can easily check the share allotment status on the websites of IPO registrar Link Intime India and the NSE.

How to check Sati Poly Plast Ltd IPO allotment status on the registrar website

• Go to the Link Intime India website (https://www.linkintime.co.in/)
• Click on Investor Services and select Public Issues
• Select the company Sati Poly Plast Limited
• Enter either your application No, PAN, DP/Client ID or Account No/IFSC
• Click on ‘Submit’ to check allotment status

How to check Sati Poly Plast Ltd IPO share allotment on NSE website

• Go to NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to create username and password on the official website of NSE)
• Select Sati Poly Plast Ltd from the drop down menu for issue name
• Verify PAN details
• Enter the IPO application Number and click on ‘Submit’

Sati Poly Plast Ltd IPO subscription

According to exchange data, the Sati Poly Plast Ltd IPO was booked around 499 times at the close of bidding on July 16. The public offer attracted bids for 44.22 crore shares worth ₹5,749 crore against 8.86 lakh shares on offer.

Among investor categories, the retail portion was booked 670 times. The Qualified Institutional Buyers’ (QIBs) portion was booked 146 times. The non-institutional investors (NIIs) booked their category 569 times.

Earlier, the company raised ₹4.93 crore from anchor investors by allotting 3.79 lakh shares. Three fund schemes placed bids at a price of ₹130 per share.

Sati Poly Plast Ltd IPO listing date has been tentatively scheduled as July 22. Shares of Sati Poly Plast Ltd will be listed on the NSE SME platform Emerge.

Sati Poly Plast Ltd IPO objective

Sati Poly Plast is an ISO-certified company that manufactures flexible packaging material that is multi-functional. The company caters to the packaging requirements of various industries by providing end-to-end solutions for flexible packaging needs.

The company has proposed to utilise the IPO proceeds to meet working capital requirements of ₹11 crore.

The net working capital requirements for the FY 2024-25 are estimated at ₹ 36.36 crore. The company will meet the requirement to the extent of ₹ 11 crore from the net proceeds of the Issue and balance from borrowings and internal accruals at an appropriate time in the fiscal.