Slone Infosystems IPO share allotment expected on May 8: Here’s how to check status online
Upstox
3 min read • Updated: May 8, 2024, 11:15 AM
Summary
After the allotment of shares, Slone Infosystems will start refunds for non-allottees by May 9, and shares will be credited to Demat accounts of successful bidders on the same day. The company is scheduled to list its IPO shares on the NSE on May 10, 2024.
Slone Infosystems IPO share allotment status is likely to be finalised on Wednesday, May 8, after an encouraging response from investors. The initial public offer was booked 648 times by investors on the final day of bidding on Tuesday, May 7.
Slone Infosystems is looking to raise ₹11.06 crore through its public offer, which is entirely a fresh issue of 14 lakh shares of ₹10 each.
Investors who have bid for Slone Infosystems shares will be eager to know whether they have been allotted shares or not. They will be able to check their share allotment status on the NSE portal as well as the registrar's website. Kfin Technologies Limited is serving as the registrar for the public issue.
Here are the steps to check Slone Infosystems IPO allotment on NSE:
- Open the IPO status check page on NSE website at - https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
- Complete registration process and log-in with ID and password created
- Select 'Slone Infosystems' from the drop-down list
- Enter PAN and application number
- Click on the 'Submit' button
- Allotment status will appear on the screen.
Here are steps to check Slone Infosystems IPO allotment on registrar Kfin Technologies Ltd's portal:
- Go to Kfin Technologies Ltd's website - https://www.kfintech.com
- Go to 'Products' section
- Click on 'IPO Status' section
- On the new page log in with your mobile number (https://ipo.kfintech.com/signIn)
- Select company - Slone Infosystems
- Enter Application number/PAN number/Client ID
- Enter 'captcha code' and click 'Submit'.
Investors must note that the allotment status will be updated on NSE and registrar portals only after the company finalizes the basis of the allotment.
Slone Infosystems IPO subscription status
Slone Infosystems IPO was subscribed 648 times, with bids coming in for 86.26 crore shares against 13.29 lakh shares on offer for public subscription. Non-institutional investors (NIIs) booked their portion 719 times, bidding for 47.72 crore shares against 6.64 lakh shares offered under the category. Retail buyers' portion was subscribed 542 times, applying for 36 crore shares against 6.65 lakh shares on offer.
Slone Infosystems IPO price and other key details
Slone Infosystems IPO opened for subscription on May 3 and closed on May 7.
The company fixed the price band for the IPO shares at ₹79 per share and the minimum lot size for an application at 1600 shares. Retail investors were required to invest a minimum of ₹1,26,400 to bid for one lot of IPO shares. For high net worth individuals, the minimum lot size for application was 2 lots or 3200 shares, requiring an investment of ₹2,52,800.
After the allotment of shares, Slone Infosystems will start refunding those investors who have not received shares. The refunds are expected on May 9, and shares will be credited to Demat accounts of successful bidders on the same day.
The company is tentatively scheduled to list its IPO shares on the NSE on May 10, 2024.
About Slone Infosystems Limited
Set up in December 2022, Slone Infosystems is an IT hardware solutions provider. The company sells various IT hardware products such as laptops, desktops, servers, and workstations. It also offers IT solution services to corporate clients, including managing cloud servers and servicing IT equipment.