Spunweb Nonwoven IPO allotment date likely today: Latest GMP and steps to check status online

Spunweb Nonwoven IPO allotment status: Following a blockbuster response to the initial public offering (IPO) of Spunweb Nonwoven, investors are now shifting their focus to the allotment of its shares. Spunweb Nonwoven IPO closed for subscription on July 16 following the three-day bidding process. Spunweb Nonwoven IPO allotment date is fixed as July 17.

The ₹60.98 crore IPO was entirely a fresh share sale of 63.52 lakh shares. Spunweb Nonwoven IPO price band was fixed at ₹90 and ₹96 apiece. Investors could apply for the IPO in lot sizes of 1,200 shares.

Spunweb Nonwoven IPO proposes to use the funds raised for funding working capital needs, investment in a subsidiary, repayment of certain borrowings availed by the company and general corporate purposes.

Spunweb Nonwoven IPO garnered a whopping 1,06,09,58,400 share bids as against 42,21,600 shares on offer, resulting in 251.32 times subscription. The retail portion (requiring a minimum investment of two lots) was booked 251.84 times, the NII portion was subscribed 364.58 times, and the QIB portion received 165.43 times bids.

Following the closure of the IPO, companies generally release the allotment status a day after. Since Spunweb Nonwoven IPO closed on July 16, that makes July 17 as the allotment date for the issue.

Investors can check Spunweb Nonwoven IPO allotment status on the website of the exchange, which is NSE in this case, or the issue registrar --- MUFG Intime India Private Limited.

- Head to the NSE website using this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

- Select Equity & SME bids details

- Select company symbol from the dropdown - Spunweb Nonwoven

- Enter PAN/Application Number

- Click on Submit

- Head to the registrar's website using this link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

- Select company from the dropdown - Spunweb Nonwoven

- Select either of the options: PAN/Application Number/DP or Client ID/Account Number or IFSC

- Enter details related to the option selected

- Click on Submit

Spunweb Nonwoven IPO is enjoying a strong grey market premium (GMP). According to market sources Spunweb Nonwoven IPO GMO today is ₹34. This is slightly lower than the GMP of ₹42 the stock was commanding in the grey market two days ago, However, latest Spunweb Nonwoven IPO GMP signals listing price at ₹130, a premium of 35% above the issue price of ₹96.

Spunweb Nonwoven IPO shares are slated to list on NSE SME on July 21.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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