Avalon Technologies IPO: How to check the Allotment Status
Avalon Technologies IPO worth Rs. 865 crore, consisted of a fresh issue of shares and an offer for sale (OFS). While the fresh issue amount was to the tune of Rs. 320 crore, the offer for sale (OFS) was to the tune of Rs. 545 crore. While the fresh issue results in fresh funds coming into the company, it also is equity and EPS dilutive. On the other hand, the offer for sale is just a transfer of ownership so it does not dilute the EPS or the equity capital.
The IPO of Avalon Technologies was overall subscribed 2.34 times, with the maximum subscription coming from the QIB segment, which got subscribed 3.77 times. While the HNI / NII segment got subscribed about 0.43 times, the retail portion got subscribed 0.88 times. Most of the QIB subscriptions came in on the last day of the IPO, which is the norm. The price band for the IPO was Rs. 415 to Rs. 436, and looking at the response, it looks fairly likely that the price discovery would eventually happen close to the upper end of the price band.
The basis of allotment will be finalized late on Wednesday, 12th April 2023 and the refunds will be initiated on 13th April 2023. The demat credits are expected to happen on 17th April 2023. while the listing of the stock on the NSE and the BSE will happen on 18th April 2023. In between This delay is due to a long weekend comprising 14, 15 and 16 April, which are market holidays. If you have applied for the IPO, you can check your allotment status online.
You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.
Checking the allotment status of Avalon Technologies Ltd on BSE website
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below.
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Avalon Technologies Ltd from the drop down box
Enter the Application Number exactly as in the acknowledgement slip
Enter the PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify that you are not a robot
Finally click on the Search Button
In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Avalon Technologies Ltd allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits.
Checking the allotment status of Avalon Technologies Ltd on Link Intime India Private Limited (Registrar to the IPO)
Visit the Link Intime registrar website for IPO status by clicking on the link below:
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Avalon Technologies Ltd from the drop-down box. In the case of Avalon Technologies Ltd, data access will be allowed late on 12th April 2023 or by middle of 13th April 2023.
There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
The fourth option is to query based on the recently introduced combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
Finally, click on the Search button
The IPO status with number of shares of Avalon Technologies Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records.
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