ArMee Infotech IPO allotment today; check status on BSE, NSE and registrar

Reports coming in for today mention that The allotment for the ArMee Infotech IPO is anticipated to be finalised today, September 28, after the Rs 300-crore initial public offering (IPO) received 2.44 times subscription during the three-day bidding period.

The offering received bids across all investor categories, with the qualified institutional buyers (QIBs) portion subscribed 3.20 times. The non-institutional investor (NII) category was subscribed 2.24 times, while the retail portion received 2.65 times subscription.

The ArMee Infotech IPO comprised an entirely fresh offering of 80 lakh equity shares. The price range was set at Rs 350-375 per share, while the minimum lot size was 40 shares. At the upper end of the price range, retail market participants were required to invest Rs 15,000 for one lot.

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Market participants can check the ArMee Infotech IPO allotment status through Cameo Corporate Services, the registrar to the offering, as well as the BSE and NSE websites.

ArMee Infotech IPO allotment status: How to check

Step 1. Visit the BSE IPO application status page at https://www.bseindia.com/market participants/appli_check

Step 2. Select Equity as the offering type.

Step 3. Choose ArMee Infotech Limited from the offering list.

Step 4. Enter your application number or PAN.

Step 5. Complete the captcha verification.

Step 6. Click Search to view your allotment status.

1. Go to the NSE IPO bid verification page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

2. Select Equity & SME IPO bid details.

3. Choose ARMEE from the firm/symbol list.

4. Enter your PAN or application number.

5. Click Submit.

6. Your IPO application and allotment details will appear on the screen.

Cameo Corporate Services is the registrar to the ArMee Infotech IPO. Market participants can check the final basis of allotment through its IPO status portal.

Step 1. Visit the Cameo Corporate IPO allotment page at https://ipo.cameoindia.com/

Step 2. Select ArMee Infotech Limited from the issuer firm list.

Step 3. Choose whether you want to check using your PAN, IPO application number or DP ID/Client ID.

Step 4. Enter the relevant details.

Step 5. Click Search.

Step 6. Your application details, including the number of shares applied for and allotted, will be displayed.

The grey market premium for ArMee Infotech stood at around Rs 6 as of the morning of September 28. Based on the upper end of the IPO price range of Rs 375, the GMP indicates an estimated price of around Rs 381. This translates into a premium of approximately 1.6 percent over the offering price.

That stated, the grey market premium is an unofficial indicator and can fluctuate before stock-exchange debut. It does not guarantee the actual stock-exchange debut price or post-stock-exchange debut returns.

For market participants who receive an allotment, the allotted shares will be credited to their demat accounts ahead of the stock's stock-exchange debut. The amount corresponding to the allotted shares will be debited from the funds blocked at the time of application, while the balance amount, if any, will be unblocked.

If an investor does not receive an allotment, no shares will be credited to the demat account. The amount blocked against the IPO application will be released by the bank or UPI mandate provider once the unblocking process is completed.

The shares of ArMee Infotech are scheduled to list on both the NSE and BSE on September 30.

The IPO opened for subscription on September 23 and closed on September 25. The firm had set the price range at Rs 350-375 per share.

Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech is an IT infrastructure solutions and managed services firm.

The firm provides technology solutions to clients across sectors including government, corporates, education and banking, financial services and insurance (BFSI).

ArMee Infotech has additionally expanded into areas such as retail sales and renewable energy, in addition to its core IT infrastructure and managed services business.