Rajesh Power Services IPO allotment expected today: Step-by-step guide to check your allotment status | Stock Market News

Rajesh Power Services IPO allotment: The allotment for Rajesh Power Services is expected to be finalised today, November 28. Investors can check their allotment status through the registrar, Bigshare Services, or on the BSE website.

The IPO, which was open for subscription from November 25 to November 27, saw a healthy response from investors, being oversubscribed by 59 times.

Specifically, the NII segment was oversubscribed 138.46 times, while the QIB portion was oversubscribed 46.39 times. The retail portion has also been booked at 31.96 times, as per the exchange data. The IPO price was set between ₹319 and ₹335 per share.

Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on November 29, 2024.

Shares allotted will be credited to investors’ demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the BSE SME platform, with a tentative date of December 02, 2024.

The company intends to utilise the net proceeds for several key purposes, including capital expenditure for the purchase of cable identification, testing, and fault location equipment.

Additionally, the company also said it will use funds to set up a 1300 KW DC solar power plant and to support in-house development of technical expertise for the production of green hydrogen, along with associated equipment such as electrolysers.

The proceeds will also be allocated towards meeting additional working capital requirements and for general corporate purposes.

Here are the steps to check allotment status online on the register website:

Since Bigshare Services is the registrar for the SME IPO, investors can check the allotment status online on Bigshare Services’ website:

Step 1: Go to the registrar Bigshare Services Pvt Ltd’s website by clicking on this link: https://www.bigshareonline.com/ipo_Allotment.html

Step 2: Select any of the three servers on the Bigshare website to check the allocation status.

Step 3: Click on company selection, and thereafter, from the dropdown, select the company name ‘Rajesh Power Services’.

Step 4: Select from among any one of the following options it asks for: application number, demat account, or PAN number.

Step 5: Enter the details pertaining to the option selected.

Step 6: Hit the Search button and don’t forget to enter the Captcha code.

Steps to check the IPO allotment on the BSE website

Step 1: Visit the allotment page on BSE’s official website:

https://www.bseindia.com/investors/appli_check.aspx

Step 2: Under ‘Issue Type’, select ‘Equity.’

Step 3: Choose the IPO from the ‘Issue Name’ drop-down option.

Step 4: Enter the PAN or application number.

Step 5: Click ‘I am not a robot’ to confirm your identity, then hit the ‘Submit’

GMP signals a decent listing

Today’s grey market premium (GMP) for the Rajesh Power Services IPO is ₹70 per share, as per the market observers, suggesting that the shares are likely to list ₹70 above their issue price. With this GMP and an issue price of ₹335 per share, the estimated listing price is around ₹405, reflecting a 21 per cent premium over the issue price.

The grey market premium is the difference between an IPO’s issue price and its expected listing price in the unofficial market. It reflects investor sentiment and demand before the stock officially begins trading.

It is important to note that GMP is only a preliminary indicator of the listing price and should not be used as the sole basis for investment decisions.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.