Lakshya Powertech IPO Allotment – 3 Ways to Check Allotment Status

Lakshya Powertech IPO allotment status is now available. Allotment status was made available on October 21, 2024, as per the timeline provided in the IPO’s red herring prospectus (RHP).

Lakshya Powertech IPO closed with a strong subscription of over 575.88 times while HNI subscription stood at MASSIVE 1,118.13 times. The stock will likely be listed on October 23, 2024, but all eyes are on the allotment. After the finalization of allotment, initiation of refunds is scheduled to occur on October 22, 2024, and shares are expected to be credited to successful investors’ demat accounts by October 23, 2024. Owing to strong positive sentiment in Lakshya Powertech IPO GMP, the allotment is likely to be difficult with slim chances.

Here are some ways in which you can check Lakshya Powertech IPO allotment status online.

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#1 Registrar Website – Most effective way to check Lakshya Powertech IPO Allotment Status

Once an IPO is closed for subscription, the ball moves in the court of the issuing registrar. In this case, the registrar is KFin Tech so investors can simply head to its website, select Lakshya Powertech from the dropdown menu, and enter ANY of the following details to check their allotment status:

• PAN
• IPO Application Number (CAF Number)
• Beneficiary ID (NSDL or CDSL Demat Account Number)

It should be noted that registrar websites are flooded on allotment days and might become very slow. As a result, it is worthwhile to keep your options open.

#2 Bank Account Debit/Removal of Lien

If your search hasn’t yielded results so far, you might want to check your bank account. Most banks have robust infrastructure and communicate balance to account holders in several ways including SMS so you might not as well need to log into net banking.

If the investor’s application has been successful, it is followed by a debit of the corresponding amount. The debit amount for the Lakshya Powertech IPO is INR 1,44,000. If the application is unsuccessful, then the bank account will see the effective balance go up by this amount which was marked on hold for the application.

In case of successful allotment, the bank account balance goes down by the corresponding amount. It is important to note that IPO allotment and amount deduction from a bank account are two different events but in some cases, both happen almost concurrently.

#3 Credit of Shares in Demat Account

If everything else has failed, you can check your demat account for credit of shares. However, this approach is the slowest of all the methods. In many cases, shares may be credited on the day of listing as well, effectively taking away all the fun of allotment.

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Lakshya Powertech IPO Allotment FAQs