L T Elevator IPO GMP Soars; Check IPO Allotment Status On BSE And Cameo Corporate Services
The allotment for L.T.Elevator IPO will be finalised today. The grey market premium for the L.T.Elevator IPO has surged since the IPO opened for subscription on September 10.
The initial public offering of L.T. Elevator Ltd. concluded its subscription on Tuesday and received a tremendous response from the investors, as the SME IPO was subscribed 182.95 times.
Investors bid for 61,44,22,400 shares against the 33,58,400 offered. The interest in the IPO was led by non-institutional buyers who booked the issue over 356 times, followed by Retail investors who subscribed the SME issue over 158 times.
According to IPO tracking site Investorgain.com, the grey market premium for the L.T.Elevator IPO has surged since the IPO opened for subscription on September 10.
The GMP for L.T.Elevator IPO was Rs 30 on September 17. Considering the IPO price band's upper end and the grey market's current premium, the estimated listing price of L.T.Elevator shares is Rs 108 per share, which is 38.46% higher than the IPO price of Rs 78.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
The allotment for L.T.Elevator IPO will be finalised on Wednesday, September 17. Find below the steps to check the allotment status on BSE and Cameo Corporate Services, the registrar for the IPO.
Steps to check L T Elevator IPO allotment status on BSE
Visit the IPO allotment page on the BSE website here: https://www.bseindia.com/investors/appli_check.aspx.
Select 'Equity' as the issue type.
From the dropdown menu, choose issue name as "L T Elevator Limited".
Enter the PAN or Application number.
Fill in the Captcha details.
Click the search button to verify your IPO allotment details.
Steps to check L T Elevator IPO allotment status on Cameo Corporate
Visit the IPO Status page on the Cameo India website here - https://ipo.cameoindia.com/.
Select any one of the links to view IPO status.
From the company dropdown menu, choose ‘L.T.Elevator Limited’
Select the input option as PAN, Application number or DP/Client ID.
Enter your PAN, Application number or DP/Client ID details based on the option selected above.
Fill in the Captcha details.
Click the Submit option to verify your IPO allotment details.
L T Elevator Listing Date
Shares of L T Elevator Limited will list on BSE SME on Friday, September 19.
Unsuccessful bidders of the L T Elevator Ltd. IPO will receive the refunds of their investment on Thursday. Successful bidders will also get the credit of shares to their demat accounts on the same day.
L T Elevator IPO: All You Need To Know
IPO Date: September 12 to September 16
Price Band: Rs 76 to Rs 78 per share
Lot Size: 1,600 shares
Issue Size: Rs 39.37 crore
Shares on offer: 0.50 crore shares
Horizon Management Pvt.Ltd. is the book-running lead manager, and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Rainbow Securities Pvt.Ltd..
Use Of Proceeds
L T Elevator Ltd. has proposed to use the net proceeds from the IPO to meet working capital requirements, for investment in subsidiary Park Smart Solutions Limited and for general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
