Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
The Rs 2,768.26 crore IPO (initial public offering) of Aditya Birla Group and Sun Life (India) AMC Investments Inc, Aditya Birla Sun Life Asset Management Company saw a modest response from investors. The initial issue received bids for nearly 14.60 crore shares against the total issue size of nearly 2.78 crore shares, according to National Stock Exchange (NSE) data. Taking the overall subscription to 5.25 times.
The portion allocated for the qualified institutional buyers (QIBs) was subscribed 10.36 times. The share set aside for non-institutional investors was booked 4.39 times while those of retail individual investors (RIIs) was subscribed 3.24 times.
“Aditya Birla Sun Life AMC got moderate response owing to the issue being priced on the higher side leaving little room for short term subscribers,” said Abhay Doshi, founder of Unlisted Arena.
According to grey market observers, the shares of the company are quoting at Rs 726 apiece marking a premium of Rs 14 or 2% over its issue price of Rs 712.
The listing may not be fanciful and the IPO should list somewhere around the issue price. Although, the prospect of the industry looks very promising considering the increasing financial literacy in India. However, there are different options available in the sector too, Doshi added.
Allotment status
The company will finalize the share allotment tomorrow that is Wednesday October 6, 2021. ou can check the allotment status either through the Registrar’s website or BSE’s website. Follow the below steps to know your allotment status
Registrar’s website
Go to the website of the IPO registrar, KFintech or click on https://kosmic.kfintech.com/ipostatus/
Select IPO (Aditya Birla Sun Life AMC)
You have to select either one of the three modes: application number, client ID or PAN ID
In application type, select between ASBA and non-ASBA
Then you need to enter the details of the mode you selected in Step 2
Enter the captcha
Click on the Submit button to know the IPO share allocation status.
BSE website
Go to BSEIndia.com or click
Click on investors > Status of Issue Application > Application Status Check
Select issue type (equity) and Issue Name (Aditya Birla Sun Life AMC).
Enter the application number and PAN Number.
Click on the search button to know the IPO allotment status.
Shares of Aditya Birla Sun Life AMC will make their stock market debut on Monday, October 11, 2021.