Chemcon Speciality Chemicals last week opened its initial public offering for subscription along with Computer Age Management Services (CAMS). The IPO of Chemcon Speciality Chemicals received an overwhelming response with the issue being subscribed 149 times on the concluding day.
According to Economic Times, the criteria for allotment of Chemcon Speciality Chemicals share are expected to be finalised tomorrow. Those who have bid for the equities of the company must be eagerly waiting for share allotment.
How to check allotment status –
- Step 1: Visit at bseindia.com
- Step 2: In the issue type, select equity option
- Step 3: Select Chemcon Speciality Chemicals in the issue name
- Step 4: Enter application number and PAN number
- Step 5: Click on search option
Investors who have bid for the IPO can also confirm their subscription status by going to the website of Link Intime India Private, which is the registrar to the IPO. The Sebi-registered registrar is entrusted with the task of processing all applications and carrying out allotment process.
Its working also involves adhering to the time deadlines for updating the electronic credit of equities to those who have been shortlisted in the bidding. Besides, the registrar is responsible for dispatch and uploading of refunds.
The price band for Chemcon Speciality Chemicals IPO was Rs 338-340. High-net worth individuals (HNIs) and retail investors showed a great interest in the issue of Chemcon. The IPO for non-institutional investor (NII) quota and qualified institutional bidders (QIBs) quota was subscribed 449.14 times and 113.54 times, reported Economic Times. The issue witnessed retail investors quota being subscribed 41.15 times.
The issue for Chemcon Speciality Chemicals was worth Rs 318 crore. The company had issued IPO worth Rs 165 crore and its offer for sale constituted up to 45 lakh equity scrips. It will be using the amount received from the sale of IPO to meet its capital expenditure and expand its manufacturing facility. It will also be utilising the proceeds for funding working capital requirement.
Source: News18