Usha Financial Services IPO allotment likely today: Here’s how to check status on NSE, Skyline Financial Services

Usha Financial Services Limited IPO allotment status is expected to be finalised on Tuesday, October 29, after the public issue closed with a strong demand. The NSE SME issue was open for subscription from October 24 to October 28.

The ₹98.45-crore book-building issue was subscribed 19.44 times during the three-day bidding period. The financial services provider's initial public offering received bids for over 7.54 crore shares against 38.78 lakh shares on offer.

The investors who participated in the IPO subscription are now waiting for the company to finalise the IPO share allotment status. The company will inform successful bidders about share allotment through SMS and emails.

The IPO bidders can easily check the share allotment status on the websites of the IPO registrar, Skyline Financial Services, and the NSE.

Here’s how to check Usha Financial Services IPO allotment status on the issue registrar’s website:

• Visit Skyline Financial Services Pvt Ltd at https://www.skylinerta.com
• Click on ‘Investors’ link on the main menu and select ‘Public Issue’
• Select Usha Financial Services from the drop down list (the name will appear only after finalisation of share allotment)
• Enter any of these: Client ID, Application Number or PAN
• Click on Search

Steps to check Usha Financial Services share allotment on NSE website

• Open the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to create Login & Password)
• Select Usha Financial Services Ltd
• Verify PAN
• Enter IPO application number
• Click on Submit

After finalising share allocation, Usha Financial Services will start refunds and crediting shares to the demat accounts on Wednesday, October 30. The IPO listing date has been tentatively fixed as October 31. Shares of Usha Financial Services will be listed on the NSE SME platform Emerge.

Usha Financial Services IPO subscription and other key details

The retail individual investors placed bids for over 4.02 crore shares against 19.39 lakh shares on offer. The retail portion was booked nearly 20 times. The Non-Institutional Investors’ (NIIs) category of the IPO was booked 28.93 times. NIIs applied for 2.4 crore shares against 8.31 lakh shares set aside for them.

The Qualified Institutional Buyers placed bids for 1.11 crore shares against 11.08 lakh shares set aside for them. The QIBs booked their quota 10 times.

Usha Financial Services IPO comprised entirely a fresh issue of 58.6 lakh shares worth ₹98.45 crore. The company fixed the price band at ₹160 to ₹168 per share. The minimum lot size for an application was 800 shares. The minimum amount of investment required by retail investors was ₹1,34,400.

Usha Financial Services Ltd plans to use the IPO money to augment its capital base and general corporate purposes.

Usha Financial Services offers lending solutions to NBFCs, MSMEs, corporate, and individuals. It also offers Electric Vehicle (EV) financing services.