Prasol Chemicals IPO: How to check allotment status on BSE, NSE & Kfin; odds of getting shares & GMP

Prasol Chemicals, the Acetone and specialty chemical maker, is set to finalize the basis of allotment of its equity shares on Friday, September 11. The investors applying for the issue may check the status of their applications on the websites of the registrar, NSE or BSE. However, those who shall not get the allotment will see their mandate revoked by the same day.

What are the odds of getting shares or allotment odds in the Prasol Chemicals IPO?

Based on the bidding, here are the allotment odds for the Prasol Chemicals IPO:

• Big HNI category (bNII): firm allotment for investors (Probability: 100 per cent)
• Small HNI category(sNII): 1 investors out of 33 investors will get 308 shares (Probability: 33.33 per cent)
• Retail category: 2 investors out of 3 investors will get 22 shares (Probability: 66.67 per cent)  

How the applicants, who had bid for the issue of Prasol Chemicals IPO can check allotment status on the website of registrar:

• Go to the web portal of KFin Technologies Ltd 
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.  

How the applicants, who had bid for the issue of Prasol Chemicals IPO can check allotment status on NSE

• Visit NSE's IPO allotment page
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘PRASOLCHEM’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed

How the applicants, who had bid for the issue of Pranav Constructions IPO can check allotment status on BSE:

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select Rays of Prasol Chemicals Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

To recall, the IPO of Prasol Chemicals was sold in the price band of Rs 643-676 apiece between September 08 and September 10. It sold the issue with a lot size of 22 equity shares and its multiples thereafter. It raised a total of Rs 500 crore via IPO, with issue being overall subscription of merely 3.30 times, fetching nearly 1.83 lakh applications and bids for only Rs 1,214 crore.

On an individual basis, the portion reserved for qualified institutional bidders (QIBs) saw a subscription of 7.22 times, while the portion for non-institutional investors (NIIs) was subscribed 1.80 times. The allocation for retail investors was subscribed 1.70 times during the three-day subscription period.

Following the muted subscription, the grey market premium (GMP) of Prasol Chemicals has seen a sharp correction. Last heard, Prasol Chemicals IPO was no commanding a GMP, suggesting a weak listing for the investors. Its premium stood around Rs 30-55 range before the bidding kicked-off.

DAM Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Refunds of the bidding amount are expected to be processed by Tuesday, September 15. Shares of the company shall be listed on both BSE Ltd and NSE with Wednesday, September 16 as the tentative date of debut.