Categories: Stock Markets

How to Check Allotment Status of Harsha Engineers International Ltd IPO

The Harsha Engineers International Ltd IPO subscription is open from 14 Sep’22 to 16 Sep’22, within which retail investors made their applications to invest in shares of the company. This IPO’s price band ranged between Rs. 314 to Rs. 330 per share. The minimum lot size for subscription in this IPO was 45 shares.

Investors who have made an application for this IPO allotment can check their allotment status as per the steps and details given below.

What is IPO allotment?

As part of any IPO allotment process, the offer’s registrar allocates the company’s shares to bidders who have made an application for IPO subscription. In most large-cap IPOs, this process generally takes a week from the IPO release date. For small-cap IPOs, it may take longer, especially in case the IPO subscription does not reach the threshold requirement.

What is the process to check IPO application status?

IPO allotment status contains details, such as the total number of shares allotted to a bidder or investor. To check the status of the allotment, investors must wait until the IPO allotment date. The information is released to the public on the IPO registrar’s website post this date. IPO applicants or bidders can check their application status online through the BSE or NSE websites. An applicant can also check the status on the official registrar’s website. Investors or IPO subscription applicants can also know about the IPO allotment status through emails or SMS sent by BSE, NSE, CDSL, or NSDL.

Steps to check IPO allotment status on Fisdom app

On the Fisdom app an investor can check the allotment status of an IPO by going to his/her Order Book once the allotment process is complete.

Steps to check IPO allotment status on the BSE website

Investors who have bid for the IPO can check the allotment status through the Bombay Stock Exchange (BSE) website by following the steps mentioned below:

Go to the BSE website – https://www.bseindia.com/investors/appli_check.aspx
Within the option of issue type, select ‘Equity’
In the ‘issue name’ section, choose the Harsha Engineers International Ltd IPO from the dropbox
Mention the application number
Provide PAN details
Select ‘I am not a Robot’ and click on submit to check the status

Steps to check IPO allotment status by visiting the Registrar of the issue

To check the Harsha Engineers International Ltd IPO allotment status at the issue registrar Link Intime’s website, here are the steps that investors can follow:

Visit the Link Intime website at – linkintime.co.in/MIPO/Ipoallotment.html
Select the ‘Harsha Engineers’ IPO
Enter PAN details
Click on ‘Search’ to check the allotment status

Conclusion

With multiple IPOs being launched in India in the last few years, these tend to attract significant media attention and interest. Many IPOs see large-scale subscriptions from both retail investors and large institutional investors. The IPO allotment status is used by market experts as an indicator of the overall investor interest levels that the company has managed to attract in the market. Companies usually share IPO calendars to keep investors informed about the chronology of IPO events. Post the IPO allotment, the company’s shares are listed on the stock exchange for trading.

FAQs

1. How much time does an IPO allotment process take?

IPO allotment generally takes 7 days from the IPO offer release date. This may take longer for small-cap IPOs since the subscription threshold limit may not necessarily be achieved within a short duration.

2. Where can I find a notification about the IPO allotment status?

IPO allotment status is generally updated on the IPO registrar’s website. Subscribers or bidders must provide their PAN number or IPO application number to check the allotment status. This information can also be found on the stock exchange websites. Allotment information is also sent to applicants via email or SMS notifications by BSE, NSE, NSDL or CDSL.

3. How to check if I have got IPO share allotment and if not, whether the amount is refunded?

If an investor is allotted IPO shares, he/she must receive a Confirmatory Allotment Note (CAN) within 15 days from the IPO issue closure as per SEBI guidelines. If not allotted shares, the refund has to be processed within 15 days from the issue closure date.

How are IPO shares allotted? Is IPO allotment on a first come first serve basis?

No, IPO allotment is not based on who applied first. It is allotted as per the response received from investors. If the IPO does not attract investor interest and remains under-subscribed, there are higher chances of allotment for those who apply. In case of oversubscription, the IPO allotment is calculated as per the number of shares available for retail investors divided by the minimum lot size.

5. Is IPO allotment guaranteed?

IPO share allotment is guaranteed since it depends on the level of subscription and investor interest received.

Rudri Rawell