Vans Electroengineerings IPO allotment: How to check status online on BSE, Bigshare Services

The basis of allotment for Vans Electroengineerings, an engineering and manufacturing company, is expected to be finalised on Monday, October 5. The bid finalisation details will be available on the websites of BSE and Bigshare Services.

The initial share sale received 584.44 times subscription, with bids for 1,21,32,97,200 shares against 1,49,76,74320,76,000 shares on offer, as per the BSE data.

The portion for qualified institutional buyers (QIBs) garnered a massive 281.65 times subscription, while the category for non-institutional investors was subscribed 757.27 times. The quota for individual investors was booked 686.27 times.

The ₹33.98 crore BSE SME issue was solely a fresh issuance of 28.80 lakh shares, with no offer for sale (OFS) component.

The fresh issue proceeds will be used for working capital requirements and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the SME platform of BSE (BSE SME). It will also provide liquidity to the existing shareholders and will also create a public trading market for the equity shares of our company," the firm said in its red herring prospectus.

Vans Electroengineerings manufactures and supplies components of traction power supply and overhead equipment systems utilised in Indian railway electrification infrastructure and metro systems along with renewable energy systems.

Vans Electroengineerings IPO allotment and listing date

Vans Electroengineerings IPO allotment status is likely to be finalised on Monday, October 5. The listing on the SME platform of BSE will take place on October 7.

How to check Vans Electroengineerings IPO allotment status on Bigshare Services

• Go to Bigshare Services' allotment status portal: www.bigshareonline.com/ipo_Allotment.html
• From the three servers available, click on any one
• Select 'Vans Electroengineerings Limited' from the IPO names
• Add any one: Beneficiary ID, PAN or application number
• Press the ‘Search’ button

Steps to check Vans Electroengineerings IPO allotment status on BSE

• Head to this page: https://bseindia.com/investors/appli_check.aspx
• Select ‘Equity’ as the issue type
• From the issue names, select 'Vans Electroengineerings Ltd'
• Identify yourself using PAN or IPO application number
• Hit the ‘Search’ button