The allotment of shares for the Lucknow-based agrochemical manufacturing company India Pesticides will be finalised today. Investors can check their allotment status on the issue’s registrar K Fintech website or on the BSE or the NSE website once the shares are allotted by the company.

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The Rs 800-crore IPO which was open for subscription between June 23 and 25, was subscribed over 29 times.

The portion for qualified institutional investors was subscribed 42.95 times while the non-institutional investor category received a bid for 51.88 times.

The price band for the offering was fixed at Rs 290-296 a share. The IPO comprised a fresh issue of Rs 100 crore and an offer for sale of Rs 700 crore. Proceeds from the fresh issue would be used towards funding the working capital requirements and general corporate purposes.

Here's how you can check the allotment status:

Through the website of registrar - Link Intime

1) Visit the website: https://kcas.kfintech.com/ipostatus/

2) Select IPO name from the dropdown

3) Enter Application Number or DP ID/Client ID or PAN

4) In the case of application number, select application type (ASBA or NON-ASBA) and 'Enter Application Number'. In the case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".

5) Enter 'Captcha' and submit

On BSE:

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

2) Select ‘Equity’ and then from the dropdown, select issue name—"India Pesticides"

3) Enter your Application Number and PAN Card number

4) Click on the "Search" button

The status will only appear if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.

Read here: India Pesticides IPO opens today: Should you subscribe?

Given the company’s strong R&D capabilities, diversified product portfolio, positioning in the industry, loyal customer base, reasonable valuations, and healthy financials, analysts had given a ‘subscribe’ rating to the IPO.

India Pesticides is an R&D-focused agrochemical technical company with growing formulations business in herbicides, insecticides, and fungicide segments. It also manufactures active pharmaceutical ingredients.

First Published:Jul 1, 2021 9:47 AM IST