Shining Tools IPO Allotment: A Tepid Response Concludes
The subscription window for the Shining Tools initial public offering (IPO) has officially closed, shifting the focus of investors to the critical allotment phase. The Shining Tools IPO allotment was finalised on Sunday, November 12, a day after the offer period concluded. The public issue, which was open for subscription from November 7 to November 11, managed to garner a muted response from the market.
Breaking Down the Subscription Numbers
The overall demand for the ₹17 crore SME IPO was lukewarm. Data reveals that the issue was subscribed 1.15 times, attracting bids for 16,35,600 shares against the 14,25,200 shares on offer. A closer look at the category-wise subscription shows a varied picture. The retail investor segment demonstrated stronger interest, with the quota being subscribed 1.87 times. In stark contrast, the non-institutional investor (NII) portion received a tepid response, being booked just 0.43 times.
How to Check Your Allotment Status
Investors who applied for the IPO can now check their allotment status through two primary channels. The process is straightforward and can be completed online.
To check on the BSE SME platform:
- Visit the official BSE IPO allotment page.
- Select 'Equity' as the Issue Type.
- Choose 'Shining Tools' from the dropdown menu for Issue Name.
- Enter your application number or PAN ID.
- Complete the 'I'm not a robot' verification.
- Click 'Submit' to view your status.
To check via the registrar, Maashitla Securities:
- Go to the registrar's website.
- Select the company name from the dropdown.
- Choose an identification method (PAN, Application Number, or DEMAT Account Number).
- Enter the required details.
- Hit 'Submit' to access the allotment information.
IPO Details and Company Plans
The Shining Tools IPO was a fixed price issue set at ₹114 per share. It involved a fresh issue of 0.15 crore shares, aiming to raise ₹17.10 crore. The minimum application size for investors was set at two lots, which translated to an investment of ₹2,73,600 for retail participants. The company, which specializes in manufacturing high-performance solid carbide cutting tools, intends to utilise the net proceeds from the IPO for several strategic purposes. These include the purchase and installation of new plant and machinery for Carbide Precision Tools, addressing working capital requirements, and meeting general corporate needs. The shares of Shining Tools are scheduled to make their market debut on the BSE SME platform on Friday, November 14.
