Sai Swami Metals and Alloys will finalise the share allotment for its ₹15-crore initial public offer (IPO) later today, which opened to the public on April 30 and closed on May 3. According to BSE data, the issue attracted bids for 128.98 crore equity shares against the 23.72 lakh equity shares available for subscription.

Investors who applied for the issue can check the allotment status of the Sai Swami Metals IPO on the registrar's portal, Bigshare Services Pvt Ltd., or on the BSE website.

Checking IPO Allotment Status on Registrar’s Website

1. Go to the registrar’s website.
2. Select “Sai Swami Metals and Alloys” from the “Company Selection” dropdown menu.
3. Enter your PAN, application number, or Demat details.
4. Submit the captcha and click Submit to view the allotment status.

See also: How To Check Storage Technologies and Automation IPO Allotment

Checking IPO Allotment Status on BSE

1. Visit the BSE website.
2. Navigate to the ‘Equity’ section and choose “Sai Swami Metals and Alloys” from the dropdown menu.
3. Input your application number or PAN.
4. Click on the ‘Search' button to see the number of shares allotted to you.

Sai Swami Metals and Alloys IPO Subscription Status

On day 3, subscribers filled the IPO 543.72 times, with the retail portion reaching 529.01 times and the NII portion achieving 533.83 times. Sai Swami Metals and Alloys is set to make its market debut on May 8.

Sai Swami Metals and Alloys IPO GMP

The Sai Swami Metals IPO grey market premium (GMP) today is +53, indicating that the shares were trading at a ₹53 premium in the grey market, according to investorgain.com. Considering the upper end of the IPO pricing range and the current grey market premium, the shares are expected to list at ₹113, which is 88.33% above the IPO price of ₹60.

About Sai Swami Metals and Alloys: Sai Swami Metals and Alloys, incorporated in 2022, trades in a variety of stainless steel products and produces kitchenware such as casseroles, water bottles, and other utensils. As of December 31, 2023, the company had a network of 6 distributors and more than 150 sub-dealers, stockiest, retailers, and strategic alliances across Gujarat, Madhya Pradesh, Maharashtra, and other states.

The company intends to use the IPO proceeds to meet incremental working capital requirements, invest in a subsidiary, purchase machinery, and for other general corporate purposes.

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