TBI Corn IPO allotment status: How to check on KFintech and NSE websites

TBI Corn IPO allotment status: TBI Corn is expected to decide the share allotment status on Wednesday, June 5, after the company’s IPO closed with a strong subscription.

The corn meal grits manufacturer launched its ₹44.94-crore initial public offer on Friday, May 31. The public offer received strong demand from non-institutional investors (NIIs) during the subscription period.

The investors, who participated in the bidding process, are now waiting for the TBI Corn IPO share allotment status.

Shares of TBI Corn will be credited to the demat accounts of successful bidders on Thursday, June 6 and refunds will be initiated for unsuccessful bidders the same day. TBI Corn shares are likely to get listed on the NSE SME platform, Emerge, on June 7.

The investors can check the share allotment status on the websites of the IPO registrar, Kfin Technologies Limited and the NSE.

Steps to check TBI Corn IPO share allotment status on registrar website:

• Go to the registrar’s website Kfin Technologies official site -https://www.kfintech.com/
• Click on 'IPO Allotment Status' section.
• Here you will be able to see 5 server links, click on any of them
• A new page will open; go to the 'IPO Allotment Status' section
• Choose “TBI Corn'' from the dropdown list
• Enter any one of these- Application Number/Demat Account/PAN.
• Type in the captcha and submit.
• Your share allotment status will be shown on screen.

How to check TBI Corn IPO share allotment on the NSE website?

• Go to NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Use the username and login id received on email to log in (investors need to create username and password on the official website of NSE)
• Choose TBI Corn IPO
• Enter PAN details
• Enter IPO application Number and click on Submit

The name of the company and the IPO share allocation status will be displayed on screen only after the company finalises the allotment status.

TBI Corn IPO subscription

The IPO of TBI Corn closed with a bumper subscription, led by strong demand from the NII category, followed by retail investors. The issue was booked 231 times on the last day of bidding as the issue received bids for more than 73.6 crore shares against 31.82 lakh shares on offer.

The NIIs segment of the IPO was subscribed 516.84 times, receiving bids for more than 35.22 crore shares compared to the 6.81 lakh shares reserved for the category.

Retail investors placed bids for nearly 30.98 crore shares against 15.92 lakh shares set aside for them, leading to a subscription of 194.58 times.

The issue was booked 81.55 times in the Qualified Institutional Buyers (QIBs) category. The QIBs bid for more than 7.39 crore shares against 9.07 lakh shares reserved for them.

TBI Corn IPO objectives

TBI Corn plans to use the money raised via the IPO for the expansion of its existing unit, meeting the incremental working capital requirements of the company and for other general corporate purposes.

About TBI Corn

TBI Corn is a Maharashtra based manufacturer of corn meal grits. The company produces high-quality corn/maize grits and also exports them to countries such as Dubai, Oman, Jordan, South Africa, and Vietnam.

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