Investors who applied for the initial public offering (IPO) of Purple Wave Infocom are now awaiting the final allotment outcome. The company's share sale has concluded, and the allotment process is scheduled for Wednesday, December 3. This marks a key milestone before the stock's market debut.
Key Dates and Subscription Details
The Purple Wave Infocom IPO was open for subscription from November 28 to December 2. The public issue witnessed a strong response, getting subscribed 6.88 times overall. The company received bids for a total of 1,19,22,000 shares against the 17,34,000 shares on offer.
A closer look at the category-wise subscription reveals robust demand. The retail individual investor (RII) portion was booked 3.80 times. The non-institutional investor (NII) segment saw even higher interest, getting subscribed 7.69 times. The qualified institutional buyer (QIB) category led the demand, getting subscribed 11.85 times.
The ₹31.45 crore IPO was a complete fresh issue of 0.25 crore shares. The price band for the offer was set between ₹120 to ₹126 per share.
How to Check Purple Wave Infocom IPO Allotment Status
Successful allottees can expect the credit of shares to their demat accounts on Thursday, December 4. Investors who did not receive an allotment will get their refunds processed on the same day. The shares of Purple Wave Infocom are slated to list on the BSE SME platform on December 5.
Investors can check their allotment status through two primary portals: the BSE website or the registrar's website. Here are the detailed steps for each method.
Checking Allotment on BSE Website
Follow these simple steps to check your status on the Bombay Stock Exchange (BSE) platform:
- Visit the BSE allotment status webpage.
- Select 'Equity' as the issue type from the dropdown menu.
- Choose 'Purple Wave Infocom' from the list of issue names.
- Enter your application number or Permanent Account Number (PAN).
- Complete the 'I'm not a robot' CAPTCHA verification.
- Click on the 'Search' button to view your allotment result.
Checking Allotment via Registrar (Maashitla Securities)
Alternatively, you can use the registrar's portal by following this procedure:
- Go to the Maashitla Securities allotment status page.
- Select 'Purple Wave Infocom' from the company dropdown list.
- Choose your preferred search option: PAN, Application Number, or Demat Account Number.
- Enter the relevant details in the provided field.
- Click the 'Submit' button to access your allotment information.
Grey Market Premium and Company Background
Reports indicate that the grey market premium (GMP) for Purple Wave Infocom is currently ₹0. This suggests the shares are expected to list at the upper end of the issue price band, reflecting the balanced market sentiment post-subscription.
Incorporated in 2007, Purple Wave Infocom operates in the digital professional audio-visual (PRO AV) sector. The company's business involves the sale and integration of advanced digital PRO AV equipment, catering to a niche market in the technology solutions space.
Disclaimer: This information is for educational purposes only. 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 change.
