Thaai Casting IPO Allotment: Thaai Casting's initial public offering (IPO) saw strong investor participation during the three-day offering period from February 15 to 20. The IPO received exceptional response across all investor categories and recorded a subscription rate of 375 times.
Allotment for Thaai Casting's IPO has been completed. Investors can check their allotment status on the registrar Purva Sharegistry India website. The underwriter is GYR Capital Advisors Private Limited. Market makers Giriraj Stock Broking and Commodity Mandi are responsible for the IPO of Thaai Casting.
Given the oversubscription in the retail category, the allocation of shares to retail investors (RII) will be done on a pro-rata basis. For those investors who do not receive allocation, Thaai Casting will initiate the application money refund process on February 21, 2024.
At the same time, investors who have been allotted shares will have the same credited to their demat account on the same day of refund.
The company's shares are expected to be listed on the NSE SME. The provisional listing date is February 23, 2024.
IPO details
The IPO size was ₹47.20 crore and the company decided the price range ₹73-77 each. The offer consists entirely of fresh shares, a total of 61.3 lakh shares. According to the Red Herring Prospectus (RHP), the company's listed competitors are Endurance Technologie and Electro Steel Casting.
Steps to Check IPO Allotment Status at Purva Sharegistry India
1. Visit Purva Sharegistry India Pvt Ltd website: https://www.purvashare.com/investor-service/ipo-query
2. Select “Thaai Casting Limited IPO” from the drop-down list on the IPO query page.
3. Select and enter your application number or PAN number.
4. Click the Search button.
Thaai Casting IPO GMP today
Thaai Casting GMP today or gray market premium today is ₹70 per share, say stock market observers. Considering the upper end of the IPO price range of ₹77 and the current gray market premium is the estimated listing price of Thaai Casting's share price ₹147 each, which is 91% higher than the issue price.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
about the company
Thai Casting Limited is an automotive accessories company specializing in precision machining of ferrous and non-ferrous materials, induction heating and quenching and high pressure die casting.
The business model is firmly anchored in the B2B approach and is aimed at leading companies in the automotive components sector. The company's product portfolio covers a diverse range of automotive components, including engine mounts, transmission mounts, fork shaft and housing, armatures, steering wheel, electrical connectors, YFG base frame (right-hand drive side/left-hand drive side). , case, top cover and more.
Disclaimer: We recommend that investors consult certified experts before making any investment decision.
Discover a world of benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized news feed – it's all here, just a click away! Log in now!
Topics that might interest you
Comments are closed.