Gallard Steel IPO Allotment Finalized: What Investors Need to Know
The much-anticipated Gallard Steel IPO share allotment has been officially finalized today, Monday, November 24, marking a significant milestone for thousands of investors who participated in the public offering. The company witnessed overwhelming response across investor categories, making this one of the most subscribed IPOs in recent times.
Subscription Numbers Reflect Massive Investor Interest
The initial public offering opened for subscription on Wednesday, November 19 and concluded on Friday, November 21. The subscription numbers revealed extraordinary investor enthusiasm, with non-institutional investors leading the charge at 624.56 times subscription. Retail investors demonstrated strong participation with 351.58 times subscription, while qualified institutional buyers showed robust interest at 228.48 times.
According to data from chittorgarh.com, the overall Gallard Steel IPO subscription status reached an impressive 375.54 times on the final bidding day. These numbers indicate the high level of confidence investors have in Gallard Steel's growth prospects and market potential.
How to Check Your Gallard Steel IPO Allotment Status
Investors who applied for the Gallard Steel IPO can check their allotment status through multiple channels. The primary method is through the official registrar portal, which is Ankit Consultancy Pvt Ltd.
Method 1: Through Registrar Portal
Visit the official website of Ankit Consultancy Private Limited at https://www.ankitonline.com/PublicIssue/FrmPublicIssue.aspx
Locate the section dedicated to checking IPO allotment status
Select 'Sita Shree Food Products IPO' from the available dropdown menu
Enter your PAN number, Application Number, or DP Client ID
Click the search button to view your allotment status
Method 2: Through BSE Website
Access the allotment section on BSE's official website: https://www.bseindia.com/investors/appli_check.aspx
Choose 'Equity' under the Issue Type category
Select the appropriate IPO from the Issue Name dropdown menu
Input your application number or PAN details
Submit to check your allocation status
Refund Process and Share Credit Timeline
For investors who do not receive share allocation, the company will initiate the refund process starting Tuesday, November 25. This ensures that unsuccessful applicants receive their money back promptly without unnecessary delays.
Successful applicants who receive share allotment will have their shares credited directly to their demat accounts on Tuesday, November 25. The official listing of Gallard Steel shares on stock exchanges is scheduled for Wednesday, November 26, when investors can begin trading the shares in the secondary market.
Grey Market Premium Indicates Strong Listing Expectations
The current Grey Market Premium for Gallard Steel IPO stands at ₹70, reflecting positive market sentiment. Considering the upper end of the IPO price band at ₹150 per share and the current premium, the estimated listing price is indicated at ₹220 apiece, representing a potential 46.67% gain over the issue price.
Industry experts note that the GMP has shown an upward trend over the past 12 sessions, suggesting anticipated strong listing performance. The highest recorded GMP reached ₹70, while the lowest stood at ₹0.00 during the observation period.
Understanding the allocation fundamentals helps investors gauge their share distribution and ownership percentage. When reviewing IPO allocation status, it's crucial to consider the total shares offered versus the massive oversubscription, which naturally leads to proportionate allocation among successful applicants.
Disclaimer: The views and recommendations mentioned are those of individual analysts, experts and broking companies, and not of Mint. Investors are advised to consult certified experts before making any investment decisions.
