The share allotment of the Sati Poly Plast IPO, which was open for public subscription between July 12 and July 16, will be finalised on July 18. The India equity markets were closed on July 17 on account of ‘Muharram’. Once allotted, investors will receive a bank debit message. They can also check the IPO allotment status on registrar Link Intime India’s portal.
The 52.56-crore IPO received a whopping 499.13 times subscription, garnering bids for 44,22,30,000 shares as against 8,86,000 shares on offer.
Once the IPO allotment is finalised today, Sati Poly Plast’s shares will likely be listed on the NSE SME on Monday, July 22.
Sati Poly Plast IPO: How To Check Allotment Status
Once the IPO is allotted, the status can be checked by following these steps:
Step 1: Visit Link Intime India Private Ltd’s portal.
Step 2: Select IPO Name ‘Sati Poly Plast Ltd’ from the drop-down menu.
Step 3: Choose any one among — ‘application number’, ‘Demat Account No.’ or ‘PAN number’.
Step 4: Enter PAN number, application number or demat account number.
Step 5: Click on ‘Submit’ Button
Now, your Sati Poly Plast IPO allotment status will be displayed on the screen.
Sati Poly Plast IPO GMP Today
According to market observers, unlisted shares of Sati Poly Plast Ltd are trading Rs 130 higher in the grey market as compared with its issue price. The Rs 130 grey market premium or GMP means the grey market is expecting a 100 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sati Poly Plast IPO: More Details
Sati Poly Plast IPO is entirely a fresh issue of 13.35 lakh shares. The price band of the IPO was fixed at Rs 123-Rs 130 apiece.
Sati Poly Plast Limited, which was incorporated in July 1999, manufactures multifunctional flexible packaging materials that meet the packaging needs of various industries. The company has set up two manufacturing units. Plant 1 is located in Gautam Budh Nagar, Noida, and can produce 540 tons per month. Plant 2 is situated in Udhyog Kendra, Noida, and has an installed capacity of 540 tons per month.
Sati Poly Plast Limited’s revenue fell 6.05 per cent, while its profit after tax (PAT) rose 6.39 per cent during the financial year 2023-24.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Sati Poly Plast IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Sati Poly Plast IPO is Spread X Securities.
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