Archean Chemical IPO Share Allotment today: Here’s how to check your status online

Archean Chemical IPO Share Allotment Date: The initial public offering (IPO) of Archean Chemical Industries, a specialty marine chemical manufacturer, was subscribed 32.23 times over the 1.99 crore shares that were on offer during the subscription period from November 9-11, 2022. The price band was fixed at Rs 386-407 per share.

Archean Chemical IPO received bids of over 64.31 crore (64,31,78,772) shares against the total issue size of over 1.99 crore (1,99,57,325) shares, data available with the National Stock Exchange (NSE) showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 48.91 times, while those of non institutional investors was subscribed 14.90 times and that of retail individual investors (RIIs) was subscribed 9.96 times, the data showed.

The Rs 1,462.3 crore IPO comprises a fresh issue of equity shares aggregating up to Rs 805 crore and an offer-for-sale (OFS) of up to 1,61,50,000 shares by the promoter and investors, including the India Resurgence Fund, a joint venture between the Piramal Enterprises and Bain Capital.

The company plans to utilise the proceeds from the fresh issue for redemption of non-convertible debentures (NCDs) issued by it and for general corporate purposes.

Investors are now looking forward to the share allotment date of Archean Chemical IPO. The company is likely to finalise the allotment by Wednesday, November 16, 2022, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for Archean Chemical IPO, then here is how you can check the status of your allotment when it gets declared:

The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: Applicants will need to select Archean Chemical Industries Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.

Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: Here, they will need to select Equity in Issue Type, then select ARCHEAN CHEMICAL INDUSTRIES LIMITED from the drop-down list in the Issue Name section, enter their Application Number or PAN Number in the respective box. Then they have to check on the ‘I am not a robot’ box and then click on search to view their status.

The listing of shares of Archean Chemical Industries is likely to take place on Monday, November 21, 2022, on both the NSE and BSE.

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