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

Orient Cables, the networking cable manufacturer, is set to finalize the basis of allotment of its equity shares on Wednesday, September 30. The bidders 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 Orient Cables IPO?

Based on the bidding, here are the allotment odds for the Orient Cables IPO:

• Big HNI category (bNII): 1 investors out of 27 investors will get 770 shares (Probability: 3.70 per cent)
• Small HNI category(sNII): 1 investors out of 103 investors will get 770 shares (Probability: 0.97 per cent)
• Retail category: 1 investors out of 28  investors will get 55 shares (Probability: 3.57 per cent)

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

• 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.

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

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

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

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select Orient Cables (India) 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 Orient Cables (India) was sold in the price band of Rs 258-272 apiece between September 25 and September 29. It sold the issue with a lot size of 55 equity shares and its multiples thereafter. It raised a total of Rs 552 crore via IPO, with issue being overall subscribed a solid more than 92.27 times, fetching nearly 40.98 lakh applications and bids for over Rs 37,500 crore.

On an individual basis, the portion reserved for qualified institutional bidders (QIBs) saw a subscription of a whopping 182.76 times, while the portion for non-institutional investors (NIIs) was subscribed 115.63 times. The allocation for retail investors was booked 30.55 times during the three-day subscription period.

Following the strong subscription figures, the grey market premium (GMP) of Orient Cables (India) has seen a sharp rise. Last heard, SS Retail IPO was a GMP of Rs 85-88 per share, suggesting a listing gain of around 31-32 per cent for the investors. Its premium stood around Rs 72-75 range before the bidding period.

IIFL Capital Securities and JM Financial Ltd are the book-running lead managers for Orient Cables (India) IPO, while Kfin Technologies Ltd is the registrar for the issue. Refunds of the bidding amount are expected to be processed by Thursday, October 01. Shares of the company shall be listed on both NSE Ltd and BSE Ltd on Monday, October 05.