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Shree Balaji (Mala) Textiles IPO allotment set to be out on July 27

The SME IPO is set to list on BSE SME on July 29, with allotment credits to demat accounts scheduled for July 28 and refunds to unsuccessful applicants processed the same day.

Reported · Written up by our desk · Trade & Tariffs

Shree Balaji (Mala) Textiles IPO allotment is expected to be released on July 27, according to LiveMint Markets. The SME IPO received a strong response during its bidding window from July 22 to July 24, with the company planning to finalise allotment status shortly after the share allotment process completes.

Following allotment finalisation, equity shares will be credited to successful applicants’ demat accounts on July 28, while refunds for unsuccessful bidders will also be processed on July 28, the outlet said. Investors can check allotment status online using details such as the application number, demat account number, or PAN.

In the grey market, LiveMint Markets reported that the IPO is commanding a GMP of ₹13, citing Investorgain. It also said the IPO’s estimated listing price is likely to be ₹83, or 18.6% above the IPO price of ₹70.

The fresh issue comprises 27 lakh equity shares, with the company looking to raise ₹18.9 crore, LiveMint Markets added. The price band is ₹66 to ₹70 per share, and the proceeds are mainly earmarked for working capital needs, with ₹16.5 crore allocated for that purpose, and the remainder for general corporate use.

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