[ad_1]
Thaai Casting IPO Allotment: Thaai Casting’s initial public offering (IPO) witnessed strong investor participation during the three-day bidding period from February 15 to 20. The IPO garnered exceptional response across all categories of investors, with a subscription rate of 375 times.
The allotment for Thaai Casting’s IPO has been finalized. Investors can check the status of their allotment on the registrar’s website, Purva Sharegistry India. The lead accounting manager is GYR Capital Advisors Private Limited. Market makers Giriraj Stock Broking and Commodity Mandi are leading the Thaai Casting IPO.
Given the oversubscription in the retail category, the allocation of shares to Retail Individual Investors (RII) will be done on a proportional basis. For those investors who do not receive an allocation, Thaai Casting will begin the application money refund process on February 21, 2024.
At the same time, investors who were allotted shares will see them credited to their demat accounts on the same day after redemption.
The company’s shares will be listed on NSE SME, with the tentative listing date being February 23, 2024.
IPO details
The size of the IPO was $47.20 crore, and the company set the price band at $73–77 each. The offer consists entirely of new shares, totaling 61.3 lakh shares. According to Red-Herring’s (RHP) prospectus, the company’s publicly traded peers are Endurance Technologie and Electro Steel Casting.
Steps to Check IPO Allotment Status on Purva Sharegistry India
2. Select “Thai Casting Limited IPO” from the drop-down list on the IPO inquiry page.
3. Choose and enter your application number or PAN number.
4. Click the “Search” button.
Thaai Casting IPO GMP today
Currently Thaai Casting GMP, or current gray market premium, is $70 per share, according to stock market watchers. Considering the upper end of the IPO price band of $77 and the current premium in the gray market, the estimated trading price of Thaai Casting share price is $147 each, 91% more than the issue price.
The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
About the company
Thai Casting Limited is an automobile auxiliary company specializing in precision machining of ferrous and non-ferrous materials, induction heating and cooling and high pressure die casting.
Its business model is firmly rooted in a B2B approach, aimed at leading entities in the automotive components sector. The company’s product portfolio covers a wide range of automotive components, including engine mounting brackets, transmission mounts, axle and fork housing, armature, steering wheel, electrical connectors, YFG base frame (left-hand drive side). right/left-hand drive side). , casing, top cover and more.
Disclaimer: We recommend investors consult certified experts before making any investment decisions.
Unlock a world of benefits! From informative newscasts to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Sign in now!