Investors eagerly awaiting the allotment status of Vruddhi Engineering Works IPO can finally breathe a sigh of relief as the allotment will be finalized today, Monday, April 1.
The allotment status will reveal how many shares each investor has been allocated. This step is crucial as it directly impacts the subsequent steps — including the crediting of shares to the investors’ demat accounts and the initiation of refunds for those who weren’t allocated any shares. For those lucky enough to receive an allotment, their shares will be credited by Tuesday, April 2.
The listing date for the IPO is set for Wednesday, April 3, on the BSE SME platform.
How to Check Allotment Status via Bigshare Services
- Step 1: Navigate to the IPO allotment status page on Bigshare Services' website.
- Step 2: Click on one of the displayed links to proceed.
- Step 3: Pick "Vruddhi Engineering Works" from the dropdown menu, available after allotment finalization.
- Step 4: Provide your application number, PAN, or DPID/Client ID.
- Step 5: Fill in the captcha to proceed.
- Step 6: Hit the "Submit" button to view your allotment status.
See also: How To Check Trust Fintech IPO Allotment Status
How to Check Allotment Status via BSE
- Step 1: Go to the BSE's official website here.
- Step 2: Choose "Equity" in the “Issue Type” section.
- Step 3: Select "Vruddhi Engineering Works" from the list of IPOs.
- Step 4: Enter your application number or PAN.
- Step 5: Fill out the captcha field.
- Step 6: Click "Search" to reveal your allotment status.
Vruddhi Engineering Works IPO Details and Company Overview
The Vruddhi Engineering Works IPO was subscribed a whopping 12.67 times by the closing day. The retail portion saw an oversubscription of 20.10 times, while the Non-institutional investors segment was even higher at 28.14 times, according to chittorgarh.com. The qualified institutional buyers segment had a modest subscription rate of 1.05 times.
Founded in 2020, Vruddhi Steel Limited has carved a niche for itself by providing bespoke mechanical splicing solutions. Catering to the real estate, construction, and infrastructure sectors, the company boasts an impressive portfolio of services, including the supply of rebar couplers, on-site threading, and trading in threading machines and spare parts.
With a customer base that spans construction contractors, real estate developers, and infrastructure companies, Vruddhi Steel Limited has served 84 customers in the mechanical splicing vertical and ventured into trading, serving an additional two customers in the sector as of March 31, 2023.
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