Veritaas Advertising IPO allotment expected on May 16: Steps to check status

Veritaas Advertising IPO allotment is expected to be finalised on May 16 following a huge demand from investors during the three-day subscription period from May 13-15, 2024.

The ₹8.48-crore book-building issue of 7.44 lakh shares will be listed on NSE SME platform after the company completes the allotment process and transfer of shares to successful applicants.

Veritaas Advertising IPO bidders are eagerly waiting for the company to announce the allotment of shares. Applicants have two modes available to check the allotment status of shares - through the official portal of the IPO registrar and the NSE website.

Here is a step-by-step guide to check the allotment status on the registrar Mas Services Limited's portal:

• Open Mas Services website - https://www.masserv.com/opt.asp
• Two options available to check allotment status - Depository Participant ID/Client ID and PAN number.
• In case you select DP ID/Client ID, fill in details and click on the 'Search' button.
• Alternatively, you can enter PAN and click on the 'Search' button.

Investors must note that the allotment status can be traced on the registrar portal only after the basis of allotment is finalised by the company.

Steps to check Veritaas Advertising IPO allotment on the NSE website:

• Start with the one-time registration on NSE by providing your PAN details.
• Once registration is complete, you will receive an email notification with the login ID and password.
• Visit the NSE IPO allotment status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with the user ID and password received.
• Enter PAN.
• Your allotment status will appear on screen.

Veritaas Advertising IPO subscription and other details

Veritaas Advertising IPO was booked 622 times at the end of the final day of bidding. The NSE SME IPO received over 33 crore bids from investors against 5.32 lakh shares available for subscription to the public.

Retail investors bought their reserved portion 989 times while the Non-institutional investors (NIIs) booked their portion 630 times. The Qualified institutional buyers (QIBs) booked their reserved quota 101 times, bidding for 1.81 crore shares against 1.77 lakh shares on offer.

Veritaas Advertising IPO price band was fixed at ₹109 to ₹114 per share with a minimum lot size for an application at 1,200 shares.

After the basis of allotment is finalised, the company will initiate refunds to non-allottees on May 17 and credit shares in the demat accounts of successful applicants.

Shares will list on NSE with a tentative listing date fixed as May 21, 2024. Established in 2018, Veritas Advertising Ltd provides advertising services across various platforms. The company has a significant presence across West Bengal, Assam and Meghalaya. The agency has also expanded its operations into Delhi, Mumbai and Pune.

The company provides comprehensive advertising solutions and media services that encompass brand strategy, events, and outdoor (OOH) media services.

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