Welcome! This article provides a comprehensive overview of the GNG Electronics IPO, focusing on its allotment status, important dates, subscription details, and Grey Market Premium (GMP). We’ll discuss when and how to check your allotment status, along with crucial details to maximize your chances in future IPOs.
GNG Electronics IPO: Application & Allotment Process
The application window for the GNG Electronics IPO was open on July 23rd, July 24th, and July 25th. Regardless of which of these dates you applied, the allotment will be determined through a lottery system. There is no advantage for applying earlier. Allotment is typically for a minimum of one lot. If you applied for three or four lots from a single Demat account in the retail category, the allotment will still follow a lottery system based on the oversubscription, with a minimum of one lot being allocated.
The company has a face value of ₹2 per share, and the upper price band was set at ₹237. Investors were required to select 63 equity shares per lot when applying. Shares will be allocated at this upper price band. Therefore, only those who applied at the upper price band will be considered for allotment through the lottery system today.
Important Dates to Remember
For those who applied on July 23rd, 24th, or 25th, the allotment status for the GNG Electronics IPO is expected on July 28th. Following this:
- July 29th: Funds will be refunded to unallotted applicants.
- July 29th: Shares will be credited to the Demat accounts of successful allottees.
- July 30th: The company’s listing will take place on both BSE and NSE.
Understanding Subscription Numbers and Allotment Chances
The GNG Electronics IPO witnessed significant subscription across categories. The Qualified Institutional Buyers (QIB) category was subscribed approximately 266 times. In the Retail category, applications were received at various price points, including the lower and cut-off price bands.
It is crucial to apply at the cut-off price in the retail category to ensure your application is considered for allotment. Those who applied at the lower or middle price bands will likely have their applications rejected and will not participate in the allotment lottery. Approximately 4.94 crore equity shares were bid at the lower price band, corresponding to 78,518 lots, which were rejected.
Out of the total bids received for approximately 33.32 crore equity shares (5,28,976 lots), bids at the cut-off price amounted to about 28.38 crore equity shares (4,50,793 lots). These are the applications that will participate in the lottery system. Due to this mistake of applying at lower price bands, the effective retail subscription figure showed approximately 47 times. Consequently, the chances of allotment for retail investors were about 1 in 36 applications, meaning roughly a 3% chance of receiving an allotment if you applied for one lot from each Demat account.
Checking Your GNG Electronics IPO Allotment Status
To check your GNG Electronics IPO allotment status, you will need to visit the registrar’s website. The registrar for this IPO is Bigshare Services Private Limited.
Here’s how to check:
- Visit the Bigshare Services Private Limited website.
- Once on the site, look for the “Allotment Status” section.
- In the company name dropdown, select “GNG Electronics Limited” when it becomes available.
- Enter your PAN number.
- Enter the given CAPTCHA code.
- Click on the “Search” button to view your allotment status.
The allotment status is expected to become visible on the registrar’s site late at night, typically between 10 PM and 12 AM. Updates regarding debit, credit, or revoke of funds may also be available between 7 PM and 8 PM.
GNG Electronics IPO Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for GNG Electronics IPO has shown some stability. Currently, the GMP is ₹94. Based on an upper price band of ₹237, the expected listing price is approximately ₹331, indicating a listing gain of around 40%. This suggests an estimated listing gain of approximately ₹5,922 per lot. Any changes in the GMP will be updated.
Stay connected for the latest updates on the GNG Electronics IPO and its grey market premium.
