Tatva Chintan IPO: Here’s a step-by-step guide to check allotment status today

IPO that ran between July 18 to 20 had fixed the price band at Rs 1,073-1,083. The IPO size was Rs 500 crore and it was fully subscribed within a few hours of opening.

You can check the allotment status either via the website of the registrar (Link Intime) or via BSE. Here’s how to check the allotment status:

Visit the website: https://linkintime.co.in/MIPO/Ipoallotment.html

Select the IPO name from the dropdown list

Enter the Application Number or DP Id/Client Id or PAN

In case of application number, select application type (ASBA or non-ASBA) and ‘Enter Application Number’. In the case of DP Id/Client Id, select depository ‘NSDL or CDSL’ and enter DP Id/Client Id.

Enter ‘captcha’ and submit

Visit the website: https://www.bseindia.com/investors/appli_check.aspx

Select ‘Equity’ and then from the dropdown list, select the IPO name

Enter your Application Number and PAN card number

Click on the ‘search’ button

The allotment status of the IPO will appear if only you have entered the details correctly. If shares are not allotted to you, the blocked amount will be refunded to your bank account.

The issue received a strong response from the investor and was oversubscribed over 180 times on the third day. The offer has received bids for 58.83 crore equity shares against the IPO size of 32.61 lakh equity shares.

The portion reserved for retail investors has been subscribed 35.53 times, while that of the non-institutional investor’s 51.22 times, as per the subscription data available on the exchanges. The qualified institutional buyers have placed bids 185.23 times do the total shares reserved for them.

Brokerages have recommended ‘subscribe’ to the IPO on the backs of robust financials, strong growth potential, diversification, potential play on green chemistry, discounted valuation compared to its peers and niche global placement.

The company plans to use the proceeds for expansion of the Dahej manufacturing facility, and upgradation of the R&D facility in Vadodara.