Patil Automation IPO Day Three: Check Subscription Status, GMP, How To Check Allotment And More

The initial public offering (IPO) of Patil Automation Ltd. has been subscribed 100.81 times so far on the third and final day of bidding on Wednesday. The NSE SME issue received bids for 38,88,01,200 shares against 38,56,800 on offer till 4:30 p.m., as per the data from market tracking site Chittorgarh.

The Qualified Institutional Buyers (QIBs) subscribed to their quota 82.92 times. The Non-Institutional Investors (NIIs) category was booked 258.17 times, while the retail portion was subscribed 43.56 times.

The price band for the IPO has been set between Rs 114 and Rs 120 per share. The SME IPO is a book-building issue worth Rs 66.1 crore, comprising entirely a fresh issuance of 55.08 lakh shares.

Allotment of shares is likely to be finalised on June 19. The company will initiate refunds and transfer of shares to the Demat accounts on June 20.

Shares of Patil Automation Ltd. are tentatively scheduled to be listed on the NSE SME platform on June 23.

The company delivers solutions for welding and line automation. It will use proceeds from the IPO to set up a manufacturing facility, repay borrowings and for general corporate purposes. 

Investors who participated in the IPO can check the allotment status on the websites of the NSE and the issue registrar, Purva Sharegistry India.

• Visit the IPO allotment page on the NSE website here. 

• Select 'Equity & SME IPO bid details'. 

• Select the company symbol ‘PATILAUTOM’ from the dropdown list for issue symbols. 

• Enter PAN details and Application Number. 

• Click on the ‘Submit’ button to check the share allotment details.

• Visit the IPO allotment page on the Purva Sharegistry website here.

• Select ‘Patil Automation Ltd.’ from the company drop-down menu.

• Enter your application number or PAN number. 

• Click on the 'Search' button to view your allotment details.

According to InvestorGain, the grey market premium (GMP) for the IPO stood at Rs 20 as of 4:00 p.m. on June 18. The latest GMP indicates an estimated listing price of Rs 140 per share at a premium of 16.67% apiece against the upper limit of the IPO price band. 

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.