Storage Technologies and Automation IPO allotment status likely on May 6: Here’s how to check share allocation

Storage Technologies and Automation IPO received a robust response from retail as well as non-institutional investors during the subscription period. Now, the investors are waiting for the IPO share allotment.

The initial public offer of Storage Technologies and Automation Ltd was booked more than 278 times on the last day of subscription on May 3. The ₹29.95-crore BSE SME IPO attracted robust bids from institutional buyers as well as retail investors.

Storage Technologies and Automation IPO subscription window was open from April 30 to May 3. After the bumper subscription, Storage Technologies & Automation Ltd (Racks & Rollers) is expected to announce the share allotment on Monday, May 6.

Successful bidders will be informed through emails and SMS on their registered mobile number. Investors can also check the status of share allotment on the official website of BSE and IPO registrar, Integrated Registry Management Services Private Limited.

Steps to check Storage Technologies & Automation Ltd IPO share allotment status

Here are the steps to check Storage Technologies and Automation Ltd IPO share allotment status on registrar website:

• Open the official website of IPO registrar, Integrated Registry Management Services Private Limited at https://www.integratedindia.in/.
• Go to the Corporate Services section and click on IPO allotment status.
• Select Storage Technologies from the dropdown list for company names.
• Enter required details like PAN and Application Number.
• Click on ‘Submit’ to check status

Check allotment status on BSE website

• Visit BSE website at https://www.bseindia.com
• Click on Investor Relations and go to Public Issues page
• Click on Application Status
• You can also use this link to visit the application status page: https://www.bseindia.com/investors/appli_check.aspx
• Select Storage Technologies and Automation Ltd from the dropdown list for company names.
• Enter your application number and PAN details
• Click on the submit button to check allotment details

It’s important to note that the name of the company and share allotment details will appear on screen only after Storage Technologies and Automation finalises the share allocation.

Storage Technologies and Automation Ltd IPO subscription and other key details

According to exchange data, the SME IPO of Storage Technologies and Automation was subscribed more than 258 times at the close of subscription on Friday. Total bids for 71.09 crore equity shares were received against the net issue size of 27.5 lakh equity shares.

The IPO received a robust response across all categories as the non-institutional investors’ segment was booked 422 times and the QIBs’ portion was booked 118 times. The retail segment was subscribed 242 times.

The public offer was a book built issue and comprised a fresh issue of 38.4 lakh shares and no offer-for-sale component. The IPO price band was fixed in the range of ₹73 to ₹78 per share. The minimum lot size for an application was 1,600 shares for retail investors.

Storage Technologies and Automation Ltd

The company is engaged in design, manufacturing and installation of metal storage racks, automated warehouses and other storage solutions. Storage Technologies caters to a wide range of industries such as oil and gas, automotive components and aerospace, food and beverages and cold storage, pharmaceutical, textile, retail, FMCG and others.

The company has proposed to utilise ₹27.50 crore of IPO proceeds to finance working capital requirements.

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