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Prasol Chemicals IPO Allotment Status Finalized: How to Check on Kfin, BSE, NSE

· · 3 min read

Prasol Chemicals has finalized the basis of allotment for its IPO shares on September 11. Investors can now check their application status via Kfin Technologies, BSE, or NSE platforms.

The Prasol Chemicals Initial Public Offering (IPO) allotment status has been finalized as of Friday, September 11. Investors who participated in the issue, which ran from September 8 to September 10, can now verify their share allocation on the official websites of the registrar, Kfin Technologies Ltd, or through the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) platforms.

The specialty chemical maker's IPO was offered in a price band of Rs 643-676 per equity share, with a lot size of 22 shares. The company successfully raised Rs 500 crore through the public issue, which saw an overall subscription of 3.30 times.

Prasol Chemicals IPO Subscription Details and Allotment Odds

The IPO attracted approximately 1.83 lakh applications, bidding for shares worth Rs 1,214 crore. The Qualified Institutional Bidders (QIBs) portion was subscribed 7.22 times, while the Non-Institutional Investors (NIIs) category saw a subscription of 1.80 times. Retail individual investors subscribed to their allocated portion 1.70 times.

Based on the bidding response, the allotment odds for different investor categories were as follows:

  • Big HNI category (bNII): Investors in this segment are expected to receive a firm allotment, indicating a 100% probability.
  • Small HNI category (sNII): Approximately 1 out of every 33 investors (33.33% probability) will receive 308 shares.
  • Retail category: Roughly 2 out of every 3 investors (66.67% probability) will be allotted 22 shares.

Following the moderate subscription levels, the Grey Market Premium (GMP) for Prasol Chemicals reportedly saw a significant correction, with no commanding premium observed recently. Previously, the GMP ranged between Rs 30-55 before the bidding commenced, suggesting a potentially weak listing.

How to Check Prasol Chemicals IPO Allotment Status

Refunds for applicants who did not receive an allotment are expected to be processed by Tuesday, September 15. The shares of Prasol Chemicals are tentatively scheduled to debut on both BSE and NSE on Wednesday, September 16.

Checking Allotment Status on KFin Technologies (Registrar)

  1. Visit the official web portal of KFin Technologies Ltd.
  2. From the dropdown menu, select the Prasol Chemicals IPO (the name will appear once allotment is finalized).
  3. Choose one of the following modes to check your status: Application Number, Demat Account Number, or PAN ID.
  4. Select your application type (ASBA or non-ASBA).
  5. Enter the required details corresponding to your chosen mode.
  6. Complete the security captcha accurately.
  7. Click 'Submit' to view your allotment status.

Checking Allotment Status on NSE

  1. Navigate to NSE's IPO allotment page.
  2. Select 'Equity & SME IPO Bid details'.
  3. Under 'Select Symbol', choose 'PRASOLCHEM'.
  4. Input your PAN Number and Application Number.
  5. Click 'Submit' to proceed and view your status.

Checking Allotment Status on BSE

  1. Go to BSE's IPO allotment page.
  2. Under 'Issue Type', click 'Equity'.
  3. From the 'Issue Name' dropdown, select 'Prasol Chemicals Limited'.
  4. Enter your application number.
  5. Provide your PAN card ID.
  6. Check the 'I am not a Robot' box and click 'Search'.

DAM Capital Advisors served as the sole book-running lead manager for the issue, with Kfin Technologies acting as the official registrar.

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