Storage Technologies and Automation Ltd IPO listing on May 8: Key factors to know ahead of market debut
Upstox
3 min read • Updated: May 7, 2024, 9:31 AM
Summary
Storage Technologies and Automation Ltd IPO share allotment status was finalised on May 6. The investors can check the IPO share allocation on the websites of the BSE or the registrar, Integrated Registry Management Services Private Limited.
Storage Technologies and Automation IPO shares are scheduled to make the stock exchange debut with a tentative listing date fixed as May 8.
With the finalisation of Storage Technologies Racks and Rollers IPO share allotment status, the investors are waiting for the listing of the stock on the BSE SME platform. The allotment of shares of the IPO was completed on May 6, after successful subscription.
The ₹15-crore initial public offer of the metals and alloys maker opened for public subscription on April 23 and closed on May 3. The IPO is a book built issue of ₹29.95 crore comprising an entirely fresh issue of 38.4 lakh shares.
Storage Technologies Racks and Rollers IPO subscription closed with massive demand as the issue was booked more than 278.82 times, led by significant bidding across all categories. The issue received bids for 71.1 crore equity shares against the 25.5 lakh equity shares on offer for subscription, as per the BSE data.
Steps to check Storage Technologies and Automation Ltd IPO share allotment status
Storage Technologies and Automation Ltd IPO share allotment status can be checked online through the BSE's official website and the registrar’s portal. The registrar for the issue is Integrated Registry Management Services Private Limited.
Here’s a step-by-step guide to check IPO allotment status online through Integrated Registry Management Services Private Limited websites:
- Go to registrar portal - https://www.integratedregistry.in/
- Click on the ‘Services’ tab
- Select Registrar to Issues & STA
- Choose IPO / Rights Issue Allotment Status
- Go to ‘Choose Company’ and select ‘ Storage Technologies and Automation Ltd’
- Choose from Application No, DPID and Client ID and PAN Number Enter the PAN/DPID/Application No
- Click on Submit
Your allotment status will be shown on the screen.
The investors can also check IPO share allotment status on the BSE website using PAN and bank account details.
Storage Technologies and Automation IPO listing premium
After a robust subscription, market experts believe that Storage Technologies and Automation IPO shares are expected to get listed on the BSE SME platform at ₹131, at a premium of 67.95% to the IPO price.
Storage Technologies and Automation IPO price band was fixed at ₹73 to ₹78 per share.
About Storage Technologies and Automation
The company was founded in October 2010 and is a maker of storage racking systems. The firm caters to enterprises in oil and gas, automotive, aerospace, and food and beverages sectors.
The company is an ISO 9001:2015 certified storage solution manufacturing company. The company claims that it has executed more than 2500 projects and has served more than 900 customers worldwide.
The company has said that it plans to utilize the proceeds of the IPO to meet working capital requirements and for other general corporate purposes.