Thaai Casting IPO share allotment likely on February 21: A step-by-step guide to check status

After a bumper subscription of automotive ancillary company Thaai Casting Ltd’s maiden public offer, investors are now eagerly awaiting the allotment of shares. Thaai Casting IPO share allotment is likely to be finalised on Wednesday, February 21.

The ₹47.20-crore initial public offering (IPO) drew strong demand from retail as well as non-retail investors, subscribing 345 times on the final day of bidding on February 20.

The Thaai Casting Ltd IPO was subscribed 345.85 times on the final day on Tuesday. The IPO received applications for a total of 1,52,00,86,400 equity shares against 43,95,200 shares on offer for public shareholders.

The successful bidders will be notified via SMS and emails by the company once the share allotment is finalised. The investors can also check the allotment status on the official website of the registrar as well as the National Stock Exchange of India (NSE).

The Chennai-based company is likely to initiate refunds on February 21 for those who won’t receive the shares. Thaai Casting Ltd is expected to start transferring shares to the demat accounts of the successful bidders on February 22. Thaai Casting shares are expected to be listed on the NSE SME platform on February 23.

Steps to check Thaai Casting IPO share allotment status:

Investors can check the allotment status through the official website of the registrar, Purva Sharegistry (India) Private Limited. Here are the steps to follow:

• Go to the official website of Purva Sharegistry (India) Private Limited at https://www.purvashare.com/.
• In the ‘Investor Services’ section select ‘IPO Allotment Query’.
• On the new page, select Thaai Casting Ltd from the drop down menu for company names.
• Enter your application number, PAN or demat account number
• Click on the ‘Submit’ button to check the share allotment status.

The share allotment details will show on the screen for the successful bidders. If the share allotment details don’t appear on the screen, it means the company is yet to complete the allocation process.

The bidders can also check the Thaai Casting IPO share allotment status on the NSE website using their PAN and IPO application details. The subscribers need first log in to the NSE website to check share allotment status.

Thaai Casting IPO details

The Thaai Casting IPO size comprised a fresh issue of 61,29,600 equity shares and no offer for sale (OFS) component. The issue included a market maker portion of 3,47,200 equity and an anchor allocation of 17,34,400 shares.

The price band of the IPO was fixed at ₹73 to ₹77 per share. The minimum lot size was 1,600 shares. The company raised ₹13.36 crore from anchor investors by issuing shares at the upper end of ₹77 apiece.

About Thaai Casting Ltd

Thaai Casting Ltd is a leading player in the automotive ancillary segment. The company specialises in high-pressure die casting, as well as the precision machining of both ferrous and non-ferrous materials and induction heating and quenching. The Tamil Nadu-based company caters to many leading players in the automotive industry primarily in the business-to-business (B2B) segment.