How To Check Veritaas Advertising IPO Allotment Status

The Veritaas Advertising IPO, which concluded on May 15, received an exceptional response from investors. On the final day of bidding, the ₹8.48-crore SME IPO garnered a 621.62 times subscription. Investors bid for 33.12 crore shares compared to the 5.32 lakh shares on offer.

If you applied for the IPO, here is how you can check the Veritaas Advertising IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Veritaas Advertising IPO allotment status

  1. Visit the registrar's website.
  2. If the allotment is finalised you will see "Veritaas Advertising" on the page.
  3. Below that would be the option to search from DP Client Id or Pan Card
  4. Enter your PAN or DP Id as per your selection on the next page.
  5. Click ‘Search' to retrieve your Veritaas Advertising IPO allotment status.

The Veritaas Advertising PO allotment status will be visible if all the details are entered correctly and the allotment has been finalised.

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Veritaas Advertising IPO Subscription Status

The retail category witnessed an overwhelming subscription of 989.44 times, while the non-institutional investor (NII) category received a subscription of 629.56 times. The Qualified Institutional Buyer (QIB) category saw a subscription of 102.41 times.

Veritaas Advertising IPO Details

The IPO, which opened for public subscription on May 13, is expected to finalise share allotment on May 16, with listing scheduled for May 21 on the NSE SME platform. The price band for the IPO was set at ₹109-₹114 per share.

Veritaas Advertising’s IPO consists solely of a fresh issue of 7.44 lakh shares. The minimum lot size for an application is 1,200 shares, requiring a minimum investment of Rs 1,36,800 for retail investors. For High Net Worth Individuals (HNIs), the minimum lot size investment is 2 lots (2,400 shares) amounting to Rs 2,73,600.

Established in 2018, Veritas Advertising Limited is a comprehensive advertising agency offering 360-degree services across various platforms. The company owns advertising spaces in West Bengal, Guwahati, and Shillong, making it one of the few media-owning marketing and advertising agencies. Additionally, it operates in major cities such as Delhi, Mumbai, and Pune.

Veritaas Advertising IPO GMP

Veritaas Advertising IPO is currently reported at ₹110. Given the upper price band of the IPO, the stock is expected to list at ₹224, indicating a potential gain of approximately 96% on listing. However, it is crucial to note that while GMPs can provide some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

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Posted In: NewsIPOsVeritaas Advertising