The share allotment for the SME IPO of IBL Finance will be finalised later today. Investors will get shares on a lottery basis and the whole process would be supervised by the registrar.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE.
The allotment status can also be checked by visiting the official website of the registrar to the issue which is Bigshare Services in this case.
Step 1: Visit the IPO Allotment Status page on Bigshare Services website
Step 2: Select IPO from the dropdown
Step 3: Put application number, enter captcha and ‘Submit’.
The SME IPO of IBL Finance was subscribed nearly 18 times at close. The category reserved for retail investors was subscribed 24 times and the other investors portion was booked 11.1 times.
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The company’s shares have no premium in the unlisted market. The shares will likely get listed on January 8. The IPO is priced at Rs 71-75 apiece.The net proceeds from the public offer will be used to augment the company’s tier-1 capital base to meet future capital requirements and general corporate purposes.
About IBL Finance
As a technology-driven fintech company, IBL Finance leverages data science to make lending quick and easy. The company through its mobile app provides instant personal loans up to Rs 50,000 with tenors of up to 12 months through an entirely digital mobile app-only process.
India has a diversified financial sector undergoing rapid expansion both in terms of strong growth of existing financial services firms and new entities entering the market.
The sector comprises commercial banks, insurance companies, non-banking financial companies, co-operatives, pension funds, mutual funds and other smaller financial entities.
For the financial 2023, the company clocked revenues of Rs 13.3 crore and net profit of Rs 1.92 crore.
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