The much-anticipated share allotment for the Ravelcare Limited initial public offering (IPO) is scheduled to be finalised on Thursday, December 4. This marks a critical step for investors who applied during the subscription period, which witnessed an overwhelming response from the market.
Record-Breaking Subscription and IPO Details
The public offering, which was open for subscription from Monday, December 1, to Wednesday, December 3, created a significant buzz in the small and medium enterprise (SME) segment. The IPO was oversubscribed by a staggering 438 times overall, highlighting intense investor interest. The portion reserved for retail investors saw an even more robust demand, getting booked 463 times.
Ravelcare's IPO was structured as a complete fresh issue of 18,54,000 equity shares, aiming to raise approximately ₹24.10 crore. The price band for the offer was set between ₹123 to ₹130 per share. The company has outlined clear objectives for utilizing the net proceeds from the issue.
The primary use of funds will be for establishing a new manufacturing facility at Mauje-Peth in Amravati. Additionally, a portion will be allocated towards marketing and advertising initiatives, with the remainder earmarked for general corporate purposes to support future growth.
How to Check Your Allotment Status
Investors who participated in the IPO can now check their share allotment status through two primary online channels: the registrar's portal and the Bombay Stock Exchange (BSE) website.
Checking Status on Registrar's Website
The registrar for the Ravelcare IPO is KFin Technologies Limited. Follow these simple steps to check your status:
- Visit the official registrar's website using the designated link.
- From the 'Select IPO' dropdown menu, choose 'Ravelcare IPO'.
- Select your preferred identification method – Application Number, Demat Account, or PAN – and enter the required details.
- Click the 'Submit' button to view your allotment status on the screen.
Checking Status on BSE Website
Alternatively, investors can use the BSE's online platform:
- Go to the BSE's designated allotment status page.
- Select 'Equity' as the issue type.
- Choose 'Ravelcare' from the list of issue names in the dropdown.
- Enter your Application Number or Permanent Account Number (PAN).
- Complete the CAPTCHA verification and click 'Search' to see the result.
Listing Date and Grey Market Premium
Subject to the completion of the allotment process, Ravelcare shares are expected to make their market debut on the BSE SME platform on Monday, December 8. The book-running lead manager for this issue was Marwadi Chandarana Intermediaries Brokers Private Limited.
In a positive signal for allottees, grey market activity suggests a strong listing. The latest grey market premium (GMP) for Ravelcare shares is reported to be around ₹80. This indicates that the stock could list at a premium of approximately 62% over the issue price, pointing towards a potentially lucrative debut for successful applicants.
The successful subscription and high GMP reflect strong market confidence in Ravelcare's business prospects and its plans for expansion using the IPO funds.
