TBI Corn IPo opened for subscription on Friday, May 31, and closed on Tuesday, June 4. The TBI Corn IPO allotment status is set to be finalised today.
If you applied for the IPO, here is how you can check the TBI Corn IPO allotment status.
Checking IPO Allotment Status on Registrar's Website:
Follow these steps to check the TBI Corn IPO allotment status
- Visit the registrar's website.
- Pick a server to check your IPO Allotment Status.
- Select "TBI Corn" from the companies listed in the drop-down menu
- In the Selection Type, choose either Application number, Demat Account Number, or PAN ID.
- Enter your ID as per your selection.
- Click ‘Submit' to retrieve your TBI Corn IPO allotment status.
The TBI Corn IPO allotment status will be visible if all the details are entered correctly and the allotment has been finalised.
TBI Corn IPO Subscription Status
On the final day of bidding, TBI Corn IPO was subscribed 231.21 times. The retail portion was subscribed 523.29 times, the NII portion was booked 516.50 times, and the QIB portion was booked 81.41. The company has received bids for 7.35 crore shares against 31.82 lakh shares on offer.
50% of the net offer is allocated to qualified institutional buyers (QIBs), 35% to retail investors, and 15% to non-institutional investors (NIIs). Up to 2,40,000 equity shares or 5.02% of the issue have been reserved by the market maker.
TBI Corn IPO GMP
The TBI Corn IPO GMP is currently reported at ₹50. Considering the upper price band of the IPO, the stock is expected to list at 144, indicating a potential gain of approximately 53% on listing. However, it is important to remember 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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TBI Corn IPO Details
The issue’s price band has been fixed in the range of ₹90 to ₹94 per share. The TBI Corn IPO lot size is 1,200 shares. The TBI Corn IPO, aimed at raising ₹44.94 crore, consists of a fresh issuance of 4,780,800 equity shares at a face value of ₹10 each. There is no offer-for-sale component in this IPO. The proceeds from the new issuance will be used for general corporate purposes, meeting incremental working capital requirements, and expanding the existing unit
According to the Red Herring Prospectus (RHP), the company provides a wide variety of products, such as GMO-free, chemically additive- and preservative-free corn flakes, stone-free broken maize and corn flour, cleaned and fat-free corn grits/meal, and turmeric finger. In addition to ISO certifications, the firm also possesses certifications from APEDA, MSME, USDA, and Indian Organic. Serving nations in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and eventually Europe and the US, the company has successfully entered foreign markets.
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