Oriana Power IPO allotment: Here's how you can check your application status

Oriana Power is likely to finalize the basis of allotment of its shares on Tuesday, August 8. The Rs 60-crore initial public offering (IPO) had received a astrounding response from the investors during the three-day bidding process as the issue was overall subscribed a whopping 176.58 times.

The SME IPO was open between August 1-3 as the company sold its shares in the range of Rs 115-118 apiece. The portion for qualified institutional bidders (QIBs) was booked 72.16 times, while the portions for non-institutional bidders (NIIs) and retail investors were booked 251.744 times and 204.04 times, respectively.

Ahead of its listing, shares of Oriana Power were commanding a premium of Rs 120 in the grey market, suggesting an upside of Rs 102 per cent from its upper price band at Rs 118. The premium in the unofficial market has improved from Rs 100 levels a week ago, when the issue was open for bidding.

Incorporated in 2013, Oriana Power provides solar energy solutions. They offer their services to industrial and commercial customers. Their vision is to offer high-quality solar energy solutions such that individuals and organizations can use sustainable and renewable energy sources for a better future.

Oriana Power will utilize the net proceeds from the issue to enhance its working capital requirements, Investments in subsidiaries and capital expenditure. Corporate Capital Ventures was the lead manager to the issue, while Skyline Finance Services was appointed registrar to the issue.

Investors, who had bid for the issue, can check the allotment status on the National Stock Exchange (NSE) website: https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp. One needs to sign-up and sign-in as a user to check the bid details

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

Investors can also check the allotment status on the online portal of link Skyline Financial Services (https://www.skylinerta.com/ipo.php), which is the registrar to the isuse.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Wednesday, August 9. Others, who would be allotted shares may see the credit of shares, in the Demat account by Thursday, August 10. The listing of the IPO is likely on Friday, August 11.

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