On the final day of bidding, KP Green Engineering IPO Limited received an overwhelming response, with a subscription of 27.51 times. The issue attracted bids for 25,88,46,000 shares against the offered 94,10,000 equity shares. The KP Green IPO allotment status is set to be finalised today, March 20.

 If you applied for the IPO, here is how you can check the KP Green Engineering IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the KP Green Engineering IPO allotment status

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

Checking IPO Allotment Status on BSE:

1. Go to the BSE website.
2. Click on the ‘Equity' section and select "KP Green Engineering" from the dropdown menu.
3. Enter your application number or PAN.
4. Click on the ‘Search' button.
5. The result will show the number of shares allotted to you.

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

KP Green Engineering IPO Subscription Status

The Non-Institutional Investors Portion and Qualified Institutional Buyer Portion were subscribed 35.96 times and 31.86 times respectively, whereas the Retail Portion saw a subscription rate of 20.12 times.

KP Green Engineering Ltd has allocated 50% of the net issue for Qualified Institutional Buyers (QIBs), not less than 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs).

See Also: How Issac Newton Lost A Fortune In The Stock Market Due To ‘FOMO’

KP Green Engineering IPO GMP

The KP Green Engineering IPO GMP is currently reported at ₹5. This is a steep fall from the ₹35 reported on March 15, when the IPO opened. With a price band of ₹144, KP Green Engineering IPO's estimated listing price is ₹149, a premium of around 3.5%. It is crucial to understand that IPO GMP is merely an unofficial gauge of market sentiment and should not considered as be the sole factor behind the company's potential performance upon its listing.

KP Green Engineering IPO Details

The KP Green Engineering IPO opened for subscription on March 15 and concluded on March 19. The IPO allotment is slated to be finalized on March 20, with the company’s shares expected to be listed on BSE SME by March 22.

With a price band of ₹137 to ₹144 per share, the IPO aims to raise ₹189.50 crore through a fresh issue of 1.31 crore equity shares. The IPO lot size is 1,000 shares, requiring a minimum investment of ₹144,000 by retail investors.

The company intends to utilize the proceeds from the fresh issue to finance capital expenditure for establishing a new manufacturing unit, expanding current production capabilities, diversifying the product portfolio, and for general corporate purposes.

About KP Green Engineering

KP Green Engineering Limited, the flagship company of the KP Group, was established by Dr. Farukbhai Gulambhai Patel in 1994. With over 25 years of operations, the KP Group boasts a presence of more than 30 entities across India, driving organizational growth. KP Green Engineering specializes in the fabrication and hot-dip galvanization of steel products, offering end-to-end solutions with in-house facilities for custom-made solutions.

Read Next: Nothing Phone Order Turns Into E-Commerce Nightmare As Flipkart Stalls Return