How To Check Konstelec Engineers IPO Allotment Status

Konstelec Engineers IPO witnessed an overwhelming response, concluding on January 24 with an overall subscription of 341.80x. The Konstelec IPO, initially scheduled to close on Jan. 23, was extended by a day due to Jan. 22 being declared a public holiday. Konstelec Engineers IPO's allotment status is set to be finalised today, Jan. 25.

If you applied for the SME IPO, you could use any of the below-listed methods to check the Konstelec IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Konstelec IPO allotment status

1. Visit the registrar's website.
2. Click on "Select Company" and choose "Konstelec Engineers" from the dropdown menu.
3. After that, you will be taken to the next page, where you can enter your PAN, application number, or DP ID.
4. Click on ‘Search' to retrieve Konstelec Engineers IPO allotment status

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If all the details are entered correctly and the allotment has been finalised, the Konstelec IPO allotment status will be visible

Konstelec Engineers IPO Overview: The closing day saw Qualified Institutions subscribing 113.80 times, non-institutional buyers subscribing 421.36 times, and retail investors subscribing 437.67 times.

The book-built issue, valued at ₹28.70 crore, comprises an entirely fresh issue of 41 lakh shares. The IPO opened on January 19 with a price band set at ₹66 to ₹70 per share.

Konstelec Engineers, offering a diverse range of services encompassing engineering and drawings, procurement, operation and maintenance, project management, construction, and commissioning, demonstrated expertise in areas such as electrical installation, solar power plant installation, instrumentation, and automation.

The company boasts a notable clientele, including BPCL, HPCL, CPCL, MRPL, ISRO, ACC, BARC, Dangote Industries Limited, Adani, NTPC, Tata Steel Ltd, Navin Fluorine International Ltd, IGPL, and Reliance Industries Limited. Operating in over fifteen states in Nigeria and India, Konstelec Engineers has positioned itself as a key player in the engineering and project management space.

The Grey Market Premium (GMP) for Konstelec Engineers IPO stands at +90, marking a significant jump from the previous day’s +57. This suggests that Konstelec Engineers shares are trading at a premium of ₹90 in the grey market.

Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price for Konstelec Engineers is indicated at ₹160 apiece. This reflects a substantial 128.57% increase over the IPO price of ₹70.

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