The Shivalic Power Control IPO, which closed on June 26, received an overwhelming response. The IPO, opened on June 24, was subscribed 257.24 times, receiving bids for over 109 crore shares against 42.67 lakh shares on offer. The Shivalic Power IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Shivalic Power IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Shivalic Power IPO allotment status

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

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

Shivalic Power IPO Subscription Status

Non-institutional investors subscribed 436.37 times, retail individual investors (RIIs) 230.14 times, and qualified institutional buyers (QIBs) 170.32 times.

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Shivalic Power IPO GMP

The Shivalic Power IPO GMP is currently reported at ₹175. With the IPO's price band set at ₹100, the expected listing price is ₹275, indicating a potential gain of approximately 175% 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.

Shivalic Power IPO Details

The IPO, aimed to raise ₹64.32 crore, was priced between ₹95 and ₹100 per share. Investors needed to apply for a minimum of 1,200 shares, making the minimum investment for retail investors ₹120,000.

Shivalic Power Control Limited, founded in 2004, manufactures a range of electric panels including PCC Panels, IMCC Panels, Smart Panels, MCC Panels, and more. Authorized by industry leaders such as L&T, Siemens, Schneider Electric, and TDK, the company produces fully type-tested panels.

The company reported a 44.03% increase in revenue and a 309.78% rise in profit after tax between the fiscal years ending March 31, 2022, and March 31, 2023.

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