Investors, who had bid for the IPO, can check the subscription status on the online portal of KFintech Private Limited, the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such, which electronically processes all applications and carries out the allotment process as per the prospectus.
On
KFintech’s web portal, one needs to select the IPO by name, data on which will be populated only when the basis of allotment is declared. One needs to provide a PAN ID, an application ID, or a client ID/DPID (depository participant identification) to fetch the information.
KFintech Private Limited is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading of refunds, and attending to all investor-related queries after the issue is completed.
Investors can also check the allotment status via bourses. To do this on BSE, one can click
here.
As per the IPO prospectus, the refund process would be initiated on Wednesday. Shares will be credited to the demat accounts on Thursday, and the stock is likely to be listed by Friday.
Analysts said that the IPO was priced at 34.5 times PE on a trailing basis, while peers TTK Prestige and Hawkins Cookers are currently trading at 61 times and 47.5 times, respectively.
They believe the kitchen appliance maker’s brand value, margins and return on capital are lower compared with those of its peers, and even as it has improved its profitability on the back of cost-cutting measures of late, such a trend is unsustainable. They remain ‘neutral’ on the issue and advise only aggressive investors with high risk-appetite to participate in the IPO.
The issue was managed by Edelweiss Financial Services and JM Financial Consultants Private Limited.
