SPP Polymer IPO share allotment likely on September 13: Steps to check status online on NSE, Kfin Technologies

SPP Polymer IPO allotment status is expected to be finalised on Friday, September 13. The initial public offering of the packaging solutions provider received robust demand from both retail and non-retail investors during the three-day subscription period.

The NSE SME IPO was open for bidding from September 10 to September 12.

The company will inform successful bidders through emails and SMS about the share allotment. Investors can also check the share allotment status on the NSE and the website of IPO registrar, Kfin Technologies.

Steps to check SPP Polymer IPO allotment status on IPO registrar's website

Steps to check SPP Polymer IPO share allotment status on NSE

• Open the NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password provided by NSE (Investors need to register on NSE website for getting a username and password)
• Select SPP Polymer Ltd from the drop down menu for issue names
• Verify PAN
• Enter IPO application number
• Click on Submit

SPP Polymer IPO details

Interactive Financial Services Ltd is the book running lead manager. Kfin Technologies Limited is the registrar for the SPP Polymer IPO.

At the close of bidding on September 12, the SPP Polymer IPO was booked more than 43 times. The IPO attracted applications for 17.05 crore shares against 39.4 lakh shares on offer for subscription.

The retail portion of the IPO was booked nearly 60 times. The non-retail portion was booked 22 times.

The company has proposed to initiate refunds and transfer of shares to the Demat accounts on September 16. Shares of SPP Polymer will be listed on the NSE SME platform. The IPO listing date has been tentatively fixed as September 17.

SPP Polymer Ltd has proposed to utilise IPO proceeds for repayment of loans, capital requirements and general corporate purposes.

The company has proposed to utilise ₹7.75 crore for loan repayment.

The company will use ₹9.86 crore to meet working capital requirements and ₹5.87 crore for general corporate purposes.

SPP Polymer Ltd is engaged in the manufacturing of HDPE/PP woven fabric and bags, non-woven fabrics and bags, and PP Multifilament yarn.

The company offers packaging solutions to business-to-business (B2B) manufacturers catering to different industries such as chemicals, food grains, cement, sugars, agriculture, polymers and others. It has a manufacturing facility at Pantnagar in Uttarakhand.