Usha Financial Services IPO Allotment Today; Steps To Check Status Online And GMP Details

The initial public offering of Usha Financial Services Ltd. was subscribed nearly 20 times on the third and final day of bidding on Monday. The SME IPO received bids for 7,51,10,400 shares against 38,78,400 shares for offer, as per the market tracking site Chittorgarh.

The category for non-institutional investors (NIIs) received 28.55 times subscription while the part for qualified institutional buyers was subscribed 10.04 times. Also, the retail individual investors portion got 20.76 times subscription.

Usha Financial Services IPO was subscribed 3.37 times on day two of the subscription on Oct. 25. It was subscribed 1.36 times on Oct. 24, the first day of bidding.

The company aims to raise Rs 98.45 crore from the market through a fresh issue of 58.6 lakh shares.

The Usha Financial Services IPO price band was set at Rs 160 to Rs 168 per share. Retail investors could place bids for a minimum lot size of 800 shares, totalling an investment of Rs 1.34 lakh.

Usha Financial Services IPO share allotment status is set to be finalised on Oct. 29. Credit of shares to the Demat account of successful bidders will be done on Oct. 30 along with refunds for non-allottees.

Shares of Usha Financial Services are set to list on the NSE SME platform, Emerge, on Oct 31.

The book-running lead managers for the NSE SME issue are Narnolia Financial Services Ltd. and Unistone Capital Pvt. SS Corporate Securities Ltd. is the market maker for the issue.

The registrar for the NBFC's public issue is Skyline Financial Services Pvt. Ltd. Here's how to check Usha Financial Services IPO allotment status:

• Visit the official website of Skyline Financial Services at skylinerta.com/ipo.php

• Select 'Usha Financial Services Limited' from the list of companies on the 'Check Applicant Status' page. (Name will be populated once the allotment is finalised)

• Enter the required information, which could be either the Application number, DPID/Client ID or PAN.

• Click on the 'Search' button.

• The allotment status will be displayed on the screen.

The grey market premium (GMP) on the Usha Financial Services IPO was Rs 10 as of 9:27 a.m. on Oct. 29. As per InvestorGain, the GMP trend indicates an estimated listing at Rs 178 per share (Rs 168 + Rs 10). This marks a premium of 5.95% over the upper price band of Rs 168.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The company will use the proceeds of the public issue to augment its capital base and other 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.