The Concord Enviro Systems IPO, which closed on December 23, 2024, saw strong investor interest, garnering 10.67 times subscription. Investors who didn’t receive an allotment might be wondering when their blocked funds will be unblocked. Here’s a detailed guide on what to expect.
IPO Overview and Subscription Status
Concord Enviro Systems’ Rs 500-crore IPO received bids for 5.35 crore shares against the 50.15 lakh shares on offer. The subscription details are as follows:
- Qualified Institutional Buyers (QIBs): 17.32 times
- Non-Institutional Investors (NIIs): 14.20 times
- Retail Individual Investors (RIIs): 5.56 times
The IPO consisted of a fresh issue of Rs 175 crore and an offer-for-sale (OFS) worth Rs 325.33 crore.
Refund Process for Non-Allottees
If you didn’t receive an allotment, the funds blocked in your account will be released as per the timeline below.
- Refund Initiation: Refunds for non-allottees will begin on December 26, 2024 (tentatively).
- UPI Applications: For UPI-based applications, the mandate will be revoked automatically, and funds will become accessible in your account.
- Bank Account Holders: For non-UPI applications, the lien on funds will be removed, and the unblocked amount will reflect in your account.
How to Check Allotment Status
To verify whether you’ve been allotted shares, you can check your IPO allotment status through the following methods:
1. BSE Website
- Visit BSE IPO Allotment Status.
- Select ‘Equity’ as the issue type and choose ‘Concord Enviro Systems’.
- Enter your application number or PAN.
- Submit the details to view your status.
2. NSE Website
- Visit NSE IPO Allotment Status.
- Register if you’re a first-time user.
- Select the IPO name and enter your details to check the allotment.
3. Registrar’s Website (Link Intime)
- Visit Link Intime IPO Allotment Status.
- Select ‘Concord Enviro Systems’ from the dropdown.
- Enter your application number, demat account, or PAN.
- Verify through the captcha and submit.
GMP and Listing Details
The shares of Concord Enviro Systems are set to list on December 27, 2024, on NSE and BSE. The grey market premium (GMP) for the IPO currently stands at Rs 75, translating to a 10.7% premium over the upper price band of Rs 700.
Investors who missed out on the allotment can expect their funds to be unblocked starting December 26, 2024. Ensure you monitor your bank account or UPI app for updates. Additionally, keep an eye on the registrar’s website or other official sources to confirm the status of your application.
