Storage Technologies and Automation IPO witnessed overwhelming demand, with bids reaching a staggering 258 times the net issue size on the final day of bidding, May 3. This exceptional response came from both institutional buyers and retail investors.
BSE data revealed that the IPO garnered bids for 71.12 crore equity shares against the net issue size of 27.5 lakh shares, resulting in an oversubscription of 258.61 times.
If you applied for the IPO, here is how you can check the Storage Technologies and Automation IPO allotment status.
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Checking IPO Allotment Status on Registrar’s Website:
Follow these steps to check the Storage Technologies and Automation IPO allotment statusVisit the registrar’s website.Click on “Company Selection” and choose “Storage Technologies and Automation” from the dropdown menu.Then you can enter your PAN, application number, or Demat.Enter the captcha and click Submit to retrieve the Storage Technologies and Automation IPO allotment status
Checking IPO Allotment Status on BSE:
Go to the BSE website.Click on the ‘Equity’ section and select “Storage Technologies and Automation” from the dropdown menu.Enter your application number or PAN.Click on the ‘Search’ button.The result will show the number of shares allotted to you.
If all the details are entered correctly and the allotment has been finalised, the Storage Technologies and Automation IPO allotment status will be visible.
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Storage Technologies and Automation IPO Details
Storage Technologies and Automation, a manufacturer of storage racking systems, launched its IPO on the SME platform of BSE on April 30, aiming to raise ₹29.95 crore from public investors. The issue saw full subscription on the first day, driven by robust demand from retail investors.
The IPO comprised a fresh issue of 38.4 lakh shares with no offer-for-sale component, priced in the range of ₹73 to ₹78 per share. The minimum lot size for retail investors was set at 1,600 shares, requiring a minimum investment of ₹124,800.
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Storage Technologies and Automation IPO Subscription Status
Non-institutional investors (NIIs) showed particularly strong interest, with bids reaching over 31.59 crore shares against 7.47 lakh shares available, marking an oversubscription of 422 times.
Qualified institutional buyers (QIBs) placed bids for 8.58 crore shares against 7.28 lakh shares reserved for them, leading to an oversubscription of 117.86 times.
Retail individual investors displayed significant enthusiasm, with bids for 30.94 crore equity shares against 12.75 lakh shares offered, resulting in an oversubscription of more than 242.74 times.
Storage Technologies and Automation is anticipated to make its market debut on May 8.
Storage Technologies and Automation IPO GMP
Storage Tech is currently trading at a grey market premium (GMP) of ₹52 per share, implying that it is expected to list at a price of around ₹130 per share, or a 66% premium from its listing price.
