Avience Biomedicals IPO share allotment in focus today; GMP, steps to check status online

Avience Biomedicals IPO share allotment is expected to be finalised on Tuesday, 23 June. The SME IPO, which opened on Thursday, 18 June, and concluded on Monday, 22 June, saw strong overall subscription of 385 times, with the segment reserved for retail investors subscribed 401 times, and the NII portion subscribed 597 times.

Avience Biomedicals' IPO was an entirely fresh issue of 14,53,800 shares, priced at ₹196 to ₹208 per share. The company intended to raise about ₹30.24 crore through the issue, which it intends to utilise to set up a new manufacturing unit in Gautam Buddha Nagar, Uttar Pradesh. Some part of the net proceeds from the issue will be used to fund working capital requirements and for general corporate purposes.

As the SME IPO concluded on Monday, the company is expected to finalise share allotment today, Tuesday, 23 June. Successful bidders can expect the shares to be credited to their demat accounts on Wednesday, 24 June, while unsuccessful bidders will likely receive refunds on the same day. The stock may debut on the NSE SME on Thursday, June 25.

Investors who bet on the IPO can check the share allotment status online on the registrar's website. They can also check the share allotment status on the official websites of the NSE.

Skyline Financial Services was the official registrar of the SME IPO.

One can follow these steps to check the share allotment status:

Step 1: Visit the registrar's website with this direct weblink

Step 3: Insert either the client ID, the application number, or the PAN details

Your Avience Biomedicals IPO allotment status will appear on your computer monitor or mobile phone screen.

Step 1: Go to the official website of NSE using the following link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 3: Enter your PAN and application number and hit “submit”.

According to market sources, the grey market premium (GMP) of Avience Biomedicals stock on Tuesday morning was ₹72. Considering the upper price band of the issue of ₹208, the estimated listing price of the stock is ₹280, a premium of almost 35%.

Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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