If you applied for the Paras Healthcare IPO and are awaiting your allotment status, your wait is nearly over. The share allotment for the Paras Healthcare IPO is expected to be finalised today, October 26, while the listing is scheduled for Wednesday, October 28.
The price band for the IPO was set at Rs 660 to Rs 693.
Here’s a quick and easy guide to check your IPO allotment status online.
The Paras Healthcare IPO saw a rather underwhelming response from investors. While the issue was subscribed 2.23 times, the NII category was undersubscribed, and demand was mostly driven by the QIBs
The issue was fully booked on its final day of bidding, which is October 23, and received nearly 1.54 lakh applications.
As per the latest update, the grey market premium (GMP) for the Paras Healthcare IPO was trending in a volatile direction, currently around Rs 9, suggesting a likely listing price of Rs 702. This reflects gains of 1.30% per share and an estimated profit of Rs 189 per lot.
However, readers must know that GMP is not an official method to determine the listing price. It is not regulated and is highly vulnerable to market manipulation.
The initial public offering of Paras Healthcare opened for subscription on October 21 and closed its bidding window on October 23. Through its offer, the company aimed to raise Rs 1,450 crore. The IPO is a book-build issue of 72.15 lakh fresh shares amounting to Rs 500 crore, and its offer for sale component stands at Rs 950 crore as investors will offload 1.37 crore shares.
The issue is being managed by JM Financial is the lead manager, while MUFG Intime India. Once the allotment process is completed, the shares are scheduled to be listed on the BSE and NSE on October 28.