Divyadhan Recycling Industries IPO Allotment: What Investors Need to Know?
As anticipation mounts in the investment community, the Divyadhan Recycling Industries IPO allotment is set to be finalized on October 1. Following a robust demand, this recycled polyester staple fiber manufacturer’s initial public offering (IPO) closed with impressive subscriptions. In this article, we’ll explore all the critical details surrounding the IPO, including how to check your allotment status, the company’s goals, and more.
Overview of the Divyadhan Recycling Industries IPO:
The Divyadhan Recycling Industries IPO was launched with a total size of ₹24.17 crore, with the subscription period spanning from September 26 to September 30. The remarkable performance of this IPO has caught the attention of investors, raising several questions about its demand and allocation.
- Subscription Rates: The IPO was oversubscribed a staggering 41 times on the final day of bidding, showcasing a significant interest in the company’s shares.
- Retail Participation: The retail segment alone was subscribed 32.43 times, with investors vying for 4.06 crore shares against the available 12.52 lakh shares.
- Non-Institutional Investors (NII): The NII category was particularly robust, being subscribed 76.4 times, with bids for 4.11 crore shares against 5.38 lakh shares set aside for this group.
How to Check Your Divyadhan Recycling Industries IPO Allotment Status?
Are you wondering how to check your Divyadhan Recycling Industries IPO allotment status? Here’s a step-by-step guide to streamline the process for you.
Checking Allotment Status on Skyline Financial Services’ Website:
- Visit the official website: Navigate to Skyline Financial Services.
- Select the Company: From the dropdown menu, choose Divyadhan Recycling Industries.
- Choose Identification Method: Opt for one of the following:
- DP ID/Client ID
- Application Number
- PAN
- Enter Details: Fill in the necessary information based on your selection.
- Search: Click the Search button to view your allotment status.
Checking Allotment Status on the NSE Website:
- Access the NSE IPO allotment page: Visit the NSE IPO allotment status page.
- Login: If you don’t have an account, you’ll need to register.
- Select the Issue Name: From the dropdown menu, select Divyadhan Recycling Industries.
- Verify Your PAN: Enter your PAN for verification.
- Enter Application Number: Provide your IPO application number.
- Submit: Click the Submit button to access your allotment details.
Objectives Behind Divyadhan Recycling Industries IPO:
What does Divyadhan Recycling Industries plan to achieve with this IPO? Let’s delve into the company’s objectives.
The proceeds from the Divyadhan Recycling Industries IPO will primarily focus on:
- Capital Expenditure: Funds will be allocated to enhance manufacturing capabilities and infrastructure.
- General Corporate Purposes: A portion of the funds will cover operational expenses and future growth initiatives.
- Issue Expenses: A fraction will also be used to meet expenses associated with the IPO itself.
Details of the Divyadhan Recycling Industries IPO:
The Divyadhan Recycling Industries IPO consisted solely of a fresh issue of 37.76 lakh shares valued at ₹24.17 crore. Here are some key details:
- Price Band: The IPO price band was set between ₹54 and ₹60 per share.
- Minimum Investment: Retail investors were required to purchase a minimum of 2,000 shares, amounting to ₹1,28,000.
- Lead Manager: The book-running lead manager for this IPO was Narnolia Financial Services Limited, while Kantilal Chhaganlal Securities served as the market maker.
Important Dates for Divyadhan Recycling Industries IPO:
- Allotment Date: The allotment is scheduled to be finalized on October 1.
- Refunds for Non-Allottees: For those who do not receive shares, refunds will be initiated on October 3.
- Listing Date: Shares are expected to be listed on the NSE SME platform Emerge on October 4.
About Divyadhan Recycling Industries Limited:
Divyadhan Recycling Industries Limited has been operational since May 2010 and specializes in manufacturing Recycled Polyester Staple Fiber (R-PSF) and recycled pellets. Located in Solan, Himachal Pradesh, the company boasts an impressive production capacity of:
- 8,030 metric tonnes per annum for fiber
- 4,320 metric tonnes per annum for pellets
Conclusion: A Promising Future for Divyadhan Recycling Industries:
With the Divyadhan Recycling Industries IPO allotment date approaching, investors are keen to see the outcome of this high-demand offering. The impressive subscription rates and clear objectives signal a promising trajectory for the company in the recycling sector.
Are you ready to explore investment opportunities with Divyadhan Recycling Industries? Stay tuned for further updates as the shares hit the market, marking a significant milestone for both the company and its investors.
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