Priority Jewels IPO: How to check application status, allotment odds, fresh GMP, listing date

Priority Jewels, whose IPO witnessed strong demand, is set to finalize the basis of allotment of its equity shares on Wednesday, September 02. The investors getting the allotment of shares 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 on the same day.

Based on the bidding, here are the allotment odds for the Priority Jewels IPO:

• Big HNI category (bNII): 2 investor out of 87 investors will get 1,050 shares (Probability: 2.30 per cent)
• Small HNI category(sNII): 1 investor out of 160 investors will get 1,050 shares (Probability: 0.62 per cent)
• Retail category: 1 investor out of 33 investors will get 75 shares (Probability: 3.03 per cent)

Here's how the applicants, who had bid for the issue of Priority Jewels:

On the website of Registrar:

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO 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.

On the website of NSE

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

On the website of BSE

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select Priority Jewels 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 Priority Jewels was sold in the price band of Rs 190-200 apiece between August 28 and September 01. The company sold the issue with a lot size or 75 equity shares and its multiples thereafter. It raised a total of Rs 92 crore via IPO, with issue being overall subscription of 100.45 times, fetching more than 20.80 lakh applications and bids worth over Rs 6,430 crore.

On an individual basis, the portion reserved for non-institutional investors (NIIs) saw subscription of 166.49 times, while the portion for retail investors was subscribed nearly 106.75 times. The allocation for qualified institutional bidders (QIBs) was subscribed 39.87 times during the three-day subscription period.

Despite the strong subscription, the grey market premium (GMP) of Priority Jewels has taken a major hit. Last heard, Priority Jewels IPO was commanding a GMP of Rs 25-30 apiece, suggesting an upside potential of around 13-15 per cent for the investors. Its premium stood around Rs 45 range during the bidding period, signaling 22-23 per cent gains.

Mefcom Capital Markets is the sole book running lead manager and MUFG Intime India is the registrar of the issue. Refunds of the bidding amount are expected to be processed on Thursday, September 03. Shares of the company shall be listed on both BSE and NSE on Friday, September 04.