Xtranet Technologies IPO allotment: Check application status, latest GMP & listing date

Xtranet Technologies is likely to finalize the basis of allotment of its shares on Tuesday, July 28. Applicant bidders will get the messages, alerts or emails for debit of their funds latest by Wednesday, July 29. The IT solutions player received a decent response from the investors during the three day bidding period.

The IPO of Xtranet Technologies was open for bidding between July 23-July 27. It had offered its shares in the price band of Rs 120-127 per share with a lot size of 110 shares. The company eyed to raise a total of Rs 167 crore via IPO, which was entirely a fresh share sale of up to 1,31,34,000 equity shares.

The issue was overall subscribed 12.24 times with more than 3.30 lakh applications, fetching bids for almost Rs 1,430 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 7.13 times. The quotas for non-institutional investors (NIIs) and retail bidders were subscribed at 26.65 times and 8.98 times, respectively.

Based on the bidding, here are the odds of allotment for IPO of Lohia Corp:

• Big HNI category: 2 investors out of 11 investors will get 1,650 shares (Probability: 18.18 per cent)
• Small HNI category: 1 investor out of 25 investors will get 1,650 shares (Probability: 4 per cent)
• Retail category: 1 investor out of 7 investors will get 110 shares. (Probability: 14.29 per cent)

The grey market premium (GMP) of Xtranet Technologies has seen a sharp recovery despite mixed bidding even as the sentiments in the broader markets remain jittered. Last heard, it was commanding a premium of Rs 7.5-9 per share, suggesting a listing pop of 7-8 per cent for the investors. Its GMP stood around Rs 10-12 apiece, during the last day of bidding.

Incorporated in 2002, Bhopal-based Xtranet Technologies is an integrated IT solutions provider offering end-to-end services such as enterprise applications, digital transformation, managed services, proprietary platforms, and strategic technology partnerships. It serves customers across industries.

Share India Capital Services is the sole book running lead manager of Xtranet Technologies IPO and Kfin Technologies is the registrar of the issue. Refund of the bidding amount shall be done on Wednesday, July 29. Shares of the company shall be listed on both BSE Ltd and NSE on Thursday, July 30.

Investors, who had bid for the issue of Xtranet Technologies, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Xtranet Technologies Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘XTRANET’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• 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.