Trom Industries IPO subscribed 459 times on the last day; check allotment status and listing date

Trom Industries IPO subscription closed with a bumper demand on the third and last day of bidding on July 29 as the public issue was booked 459 times.

The initial public offering of the solar engineering, procurement and construction company received bids for more than 83.29 crore shares compared to 18.14 lakh shares on offer, leading to an overall subscription of 459.07 times.

The NSE SME issue was subscribed 752.24 times in the Non-Institutional Investors (NIIs) category. The NIIs applied for 29.24 crore shares against 3.88 lakh shares set aside for the segment.

Retail individual investors applied for over 43.83 crore shares against 9.07 lakh shares set aside for the category, booking the portion 483.14 times on the last day of subscription.

The Qualified Institutional Buyers (QIB) placed bids for 10.21 crore shares against 5.18 lakh shares. The QIBs portion was booked 197.06 times.

Trom Industries Limited IPO offer size and price band

Trom Industries IPO is a book-building issue worth ₹31.37 crore. The public offer comprised entirely a fresh issue of 27.28 lakh shares, including an anchor allocation of 7.76 lakh shares.

Trom Industries IPO price band was fixed at ₹100 to ₹115 per share.

Trom Industries Limited allotment status and listing dates

Trom Industries IPO subscription window closed on July 29. The IPO allotment status is likely to be finalised on Tuesday, July 30.

Refunds will be initiated for unsuccessful bidders on July 31 and shares will be credited in the Demat accounts of successful bidders the same day.

Shares of Trom Industries IPO are likely to be listed on the NSE SME platform, Emerge, on August 1.

Trom Industries IPO registrar

Kfin Technologies Limited is the registrar for Trom Industries IPO. Expert Global Consultants Private Limited is the book-running lead manager, and Sunflower Broking is the market maker.

Trom Industries IPO objective

Trom Industries Limited plans to use the money raised via the public issue to meet working capital needs towards setting up of solar power plants and general corporate purposes.

About Trom Industries Limited IPO

Trom Industries Limited, founded in 2011, provides comprehensive solar engineering, procurement, and construction solutions, offering a wide range of solar solutions from residential rooftops to large-scale industrial installations.