Monarch Surveyors IPO Allotment Today: How to Check Status, Latest GMP, and More
The initial public offering (IPO) of Monarch Surveyors and Engineering Consultants Ltd. witnessed an overwhelming response from investors, with the issue being subscribed more than 250 times. The BSE SME issue received bids for 62.2 crore shares against 24.81 lakh shares on offer.
Subscription Details
The IPO received bids from Non-Institutional Investors (NIIs), who emerged as the top bidders, booking their quota 317 times. The retail portion of the IPO was subscribed 263 times, while the Qualified Institutional Buyers’ segment was booked 179 times.
How to Check IPO Allotment Status
Investors can check the allotment status on the websites of the issue registrar, Bigshare Services, and the BSE. Here are the steps:
- Visit the IPO allotment page on the Bigshare Services website: https://ipo.bigshareonline.com/ipo_status.html
- Select “Monarch Surveyors and Engineering Consultants Ltd.” from the dropdown menu.
- Enter your PAN, Application Number, or DP/Client ID.
- Click Search to view your allotment status.
Alternatively, you can check the allotment status on the BSE IPO allotment status page:
- Go to the BSE IPO allotment status page: https://www.bseindia.com/investors/appli_check.aspx
- Choose Issue Type as ‘Equity’.
- Select Issue Name as ‘Monarch Surveyors and Engineering Consultants Ltd.’.
- Enter your PAN, Application Number, or DP/Client ID.
- Click Submit to check your allotment result.
Listing on BSE SME Platform
The company will initiate the transfer of shares to the Demat accounts of successful applicants on July 28, following the finalisation of allotment status. Refunds for unsuccessful applicants will also be processed the same day.
Monarch Surveyors & Engineering Consultants Ltd. shares are scheduled to be listed on the BSE SME platform on Tuesday, July 29.
Grey Market Premium (GMP)
According to Investorgain, the latest grey market premium (GMP) for the Monarch Surveyors IPO stood at Rs 210 apiece as of 7:00 a.m. on July 25. The GMP indicates an estimated listing price of Rs 460 per share, at a premium of 84% over the upper limit of the issue price.
The GMP has been steadily rising, with the lowest recorded GMP of Rs 165 on July 22, day 1 of subscription.
Use of Proceeds
The Monarch Surveyors IPO is a book-built issue worth Rs 93.75 crore, comprising only a fresh issuance of 37.5 lakh equity shares. The company plans to use a portion of the proceeds towards funding capital expenditure for buying machinery. A portion of the funds will be allocated towards the company’s working capital requirements. The remaining amount will be used for general corporate purposes.
Disclaimer
Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
