Medicamen Organics IPO saw an overwhelming response from investors, being subscribed 993 times on the last day of bidding. The public issue had attracted bids for over 203.89 crore shares, significantly exceeding the 20,52,000 shares available. The Medicamen Organics IPO allotment is set to be finalised today.

If you applied for the IPO, here is how you can check the Medicamen Organics IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Medicamen IPO allotment status

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

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

Medicamen Organics IPO Subscription Status

The retail category was subscribed 1,309.77 times, the Qualified Institutional Buyer (QIB) category 173.03 times, and the Non-Institutional Investor (NII) category 1,343.83 times. In the QIB segment, bids were received for more than 10.10 crore shares against the available 5.84 lakh shares. The NII category saw bids for over 59.12 crore shares compared to the 4.4 lakh shares on offer. Retail investors showed the highest interest, with bids for 134.64 crore shares against the available 10.28 lakh shares.

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Medicamen Organics IPO GMP

The Medicamen Organics IPO's GMP is currently reported at ₹50. With the IPO's price band set at ₹34, the expected listing price is ₹84, indicating a potential gain of approximately 147% on the listing. However, it's crucial to remember that while GMPs can offer some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

Medicamen Organics IPO Details

The IPO consists entirely of a fresh issue of 31 lakh shares through a book-built process, including 1.72 lakh equity shares allocated to the market maker, and 8.76 lakh shares for anchor investors. The price band for the IPO was set at ₹32 to ₹34 per share, with a minimum application lot size of 4,000 shares, requiring a minimum investment of ₹1.36 lakh for retail investors.

The IPO opened for bidding on June 21 and closed on June 25. The basis of allotment will be finalized on June 26, with refunds initiated and shares credited to demat accounts on June 27. The listing date for shares in Medicamen Organics IPO is slated for June 28 on the NSE SME platform.

Medicamen Organics Limited aims to utilize the net proceeds from the IPO for several key objectives, including funding expenses for product registration in international markets, updating the plant and increasing production capacity, meeting the company's working capital requirements, and addressing general corporate purposes.

About Medicamen Organics

Incorporated in 1995, Medicamen Organics Limited develops, manufactures, and distributes a range of pharmaceutical products, including generic tablets, capsules, oral liquids, ointments, gels, syrups, suspensions, and dry powders. The company serves both government sectors (state and central) and private entities as a contract and third-party manufacturer. Its products are marketed across India and internationally in countries such as Congo, Benin, Togo, Senegal, Burkina Faso, the Philippines, Myanmar, Mozambique, Burundi, Kyrgyzstan, and Kenya through third-party distributors.

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