Sigachi Industries IPO allotment is schedule for today and it is likely to be a very tough fight for majority of investors. This isn’t surprising given the fact that the offer was subscribed over 80 times in the retail category while the HNI (NII) category subscription was also quite high at 172 times. What’s more interesting is that the grey market premium (GMP) is hovering around INR200, indicating over 100% listing gains. Sigachi Industries IPO allotment will be finalized by offer registrar Bigshare Services.
Since the IPO has generated quite a buzz amid other big IPOs such as PolicyBazaar, Nykaa and Fino Payments Bank, investors are looking forward to allotment status. Here are the primary ways to check Sigachi Industries IPO allotment status.
#1 Registrar Website – Most effective way to check Sigachi Industries IPO allotment status
As mentioned above, the ball is in the court of issue registrar after subscription closes. In this case, the registrar is Bigshare Services so investors can simply head to its website, select Sigachi Industries from the dropdown menu and enter ANY of the following details to check their allotment status:
- 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. Thankfully, Bigshare has three servers to choose from so select others if you find yourself stuck. In any case, it is worthwhile to keep your options open. Read on!
#2 BSE Website
Another effective way of check allotment status is the IPO allotment page on BSE website. However, investors need to know application number in addition to PAN to check status in this option. Simply select equity, relevant IPO, application number and PAN to get status.
BSE has relatively robust infrastructure for its website and thus, investors are unlikely to face problems of slow connection and unresponsiveness in this option.
#3 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 a number of 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 corresponding amount. In case of Sigachi, the amount is INR14,670. If the application is unsuccessful, then the bank account will see effective balance go up by this amount which was marked on hold for the application.
In case of successful allotment, bank account balance goes down by the corresponding amount. For Paras Defence, the amount is INR14,875. It is important to note that IPO allotment and amount deduction from bank account are two different events but in some cases, both happen almost concurrently.
#4 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. For example, allotment is expected today, 10 November for Sigachi but credit of shares in demat account is expected on 12 November. In many cases, shares may be credited on the day of listing as well, effectively taking away all the fun of allotment.
If you are an investor, you will do well to understand IPO allotment process as well as timelines. In case of Sigachi IPO, the allotment timetable is as follows
Finalisation of Basis of Allotment: 10 November 2021
Initiation of refunds: 11 November 2021
Transfer of shares to demat accounts: 12 November 2021
Sigachi Industries Listing Date: 15 November 2021