Investors who participated in the recently concluded initial public offering (IPO) of Global Ocean Logistics India can now look forward to the crucial allotment phase. The company's share allotment process is scheduled for today, Friday, December 22. This follows the closure of the subscription period on Monday, December 18, which saw strong investor interest.
Subscription Details and Fund Utilization
The public offer, which was open for subscription from December 17 to December 18, witnessed an overall subscription of 13.64 times. The demand was segmented across investor categories. The portion reserved for retail individual investors (RII) was booked 11.90 times, while non-institutional investors (NII) showed robust interest, subscribing their quota 29.47 times. Qualified institutional buyers (QIB) participated moderately, with their segment receiving 4.77 times bids.
The IPO was a fresh issue of 30.41 crore rupees, involving the sale of 39 lakh shares. The price band was set between 74 and 78 rupees per share. Since the offer comprised entirely of new shares, the capital raised will be directed towards funding the company's working capital requirements and for general corporate purposes.
How to Check Your IPO Allotment Status
Investors anxious to know their allotment status have two primary portals to check. The process is straightforward and can be completed online.
Checking Status on BSE Website
Shareholders can visit the Bombay Stock Exchange's dedicated allotment page. The steps are simple: navigate to the BSE website, select 'equity' as the issue type, choose 'Global Ocean Logistics India' from the dropdown menu, and enter your application number or PAN details. After completing the captcha, a click on the search button will reveal your allotment status.
Checking Status via Registrar KFin Technologies
The official registrar for this IPO is KFin Technologies. Investors can go to their IPO status webpage, select the correct IPO name from the dropdown, and input their details using one of three identifiers: Application Number, DEMAT account number, or PAN card number. Submitting these details will provide the allotment outcome.
Important Dates and Grey Market Premium (GMP)
The timeline for the subsequent steps is clearly defined. The credit of shares to successful allottees' demat accounts is set for Saturday, December 23. Investors who did not receive an allocation will get their refunds processed on the same day. The much-anticipated listing on the BSE SME platform is expected on Monday, December 24.
In a notable development, the grey market premium (GMP) for Global Ocean Logistics India shares is currently nil. This indicates that in the unofficial grey market, the shares are trading at par with the upper end of the issue price, which is 78 rupees. Consequently, based on the current GMP, the anticipated listing price is also around the issue price, offering neither a premium nor a discount to investors at the debut.
Disclaimer: This information is intended for educational purposes. The views expressed belong to individual analysts. Investors are strongly advised to consult with certified financial experts before making any investment decisions, as market conditions are subject to rapid change.
