How To Check Owais Metal IPO Allotment Status

The Owais Metal and Mineral Processing IPO closed on February 28, has garnered an overwhelming response from investors. On the final day of bidding, the ₹42.69-crore SME IPO witnessed a subscription rate of 221 times. The Owais Metal IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Owais Metal IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Owais Metal IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "Owais Metal and Mineral Processing" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Enter the captcha and click Search to retrieve the Owais Metal IPO allotment status

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

Owais Metal IPO Subscription Status

Investors bid for a total of 70.70 crore shares against the 31.95 lakh shares on offer. The retail category saw a subscription rate of 248.50 times, while the non-institutional quota reached 329.36 times subscription. The Qualified Institutional Buyers (QIB) quota also attracted significant interest, with a subscription rate of 92.06 times.

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Owais Metal IPO GMP

In the unlisted market, the Owais Metal IPO GMP is reported at ₹125. This premium indicates a potential listing gain of 143% from the public issue, based on the IPO GMP. It's important to note that while IPO GMPs can offer a glimpse into market sentiment regarding an IPO, they shouldn't be taken as the sole determinant of the stock's performance upon listing.

Owais Metal IPO Details

Launched for public subscription on February 26, the IPO’s price band is fixed at ₹83 to ₹87 per share. For retail investors, the minimum lot size is 1,600 shares, requiring an investment of ₹1,39,200, while High Net-Worth Individuals (HNIs) are required to invest in 2 lots (3,200 shares) amounting to ₹2,78,400.

Owais Metal and Mineral Processing Ltd, established in 2003, specializes in manufacturing and processing various metals and minerals, with a focus on products like Manganese Oxide (MNO), MC Ferro Manganese, Wood Charcoal, and the processing of minerals such as Ferro Alloy, Quartz, and Manganese Ore.

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Posted In: NewsIPOsOwais Metal