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Srivari Spice and Foods Limited, a manufacturer of wheat flour and spices with presence in Telangana and Andhra Pradesh, will allot its Initial Public Offering (IPO) share on Monday, i.e August 14. Those willing to check their allotment status can do so by logging on to Bigshare Services Pvt Ltd’s portal. The IPO was open for subscription from August 7 to 9.
The refund process for those who were not allotted shares will begin on August 16. The investors who were allotted shares will receive them in their demat accounts on August 17. The IPO listing will take place on August 18.
How to check allotment status
To check allotment status, log on to the website of IPO registrar Bigshare Services Pvt Ltd, by clicking here.
After the website homepage loads, select “Srivari Spices and Foods IPO” in company name section. Now, select ‘ ‘Application No/CAF No or Beneficiary ID or PAN Number’ and fill the number asked for. Click on ’Search’. You will get to know the allotment status of the IPO you have applied for.
Grey Market Premium today
According to topsharebrokers.com website, the share of Srivari Spices was trading at ₹28 in the grey market, less than Friday’s GMP of ₹30. A grey market is basically an official stock and applications market where the investors trade for shares or applications before they are officially launched for trading in the stock exchange.
The company’s fresh issue size is up to 21.42 lakh equity shares at a face value of ₹10 each. The net proceeds from the IPO will be utilized to fund working capital requirements and general corporate purpose. The issue closes on August 9th, 2023.
The IPO’s Book Running Lead Manager is GYR Capital Advisors Private Limited and the registrar is Bigshare Services Private Limited.
Rathi Narayan Das, Chairman & Whole – Time Director, Srivari Spices and Foods Limited said in a statement,” Our mission is to supply organic and quality products to our customers. Currently we are supplying in and around Telangana and Andhra Pradesh, and the IPO funding will enable us to expand our reach and provide us the working capital to grow our business more effectively increasing our market share.
Srivari Spices and Food Limited was incorporated in 2019 and has a major presence in Telangana and Andhra Pradesh. It started its business with manufacturing of Turmeric, Chilli and coriander powder and within four years, it expanded its product mix to various spices and manufacturing Chakki Aata.
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