Valiant Laboratories IPO: How to check the Allotment Status

Valiant Laboratories Ltd IPO gets a strong response

Valiant Laboratories Ltd has a face value of ₹10 per share while the price band for the book building IPO has been set in the band of ₹133 to ₹140 per share. The final price will be discovered within this band, through the process of book building. The fresh issue portion entailed the issue of 1,08,90,000 shares (108.90 lakh shares), which at the upper price band of ₹140 per share will translate into fresh issue size of ₹152.46 crore. Since there is no offer for sale component in the IPO, the fresh issue portion will also be the overall issue size. Hence, the overall issue size of Valiant Laboratories Ltd will comprise the issue of 1,08,90,000 shares (108.90 lakh shares), which at the upper price band of ₹140 per share will translate into fresh issue size of ₹152.46 crore

The issue was overall subscribed 29.75 times, with the maximum subscription coming from the HNI / NII segment, which got subscribed over 73.63 times. While the QIB segment got subscribed at a healthy clip of 20.83 times, the retail portion got subscribed at 16.05 times. Most of the QIB subscriptions came in on the last day of the IPO, which is the norm. The IPO was open for 4 days, as against the normal practice of 3 days in most IPOs. The price band for the IPO was ₹133 to ₹140, and looking at the response, it looks fairly likely that the price discovery would eventually happen at the upper end of the band.

When will the basis of allotment be finalized?

The first step for checking the allotment status of the IPO online is the completion of the basis of allotment of Valiant Laboratories Ltd. The basis of allotment will be finalized late on 05th October 2023. The refunds will be initiated by the company on 06th October 2023. The demat credits are expected to also happen on 06th October 2023 while the listing of the stock on the NSE and the BSE will happen on 09th October 2023. In between there was a weekend and a holiday so the allotment status gets delayed by a couple of days. However, it looks like the companies are keen to adhere to the new SEBI norm of T+3 listing. That is voluntary as of now but will become mandatory as of the start of December 2023, so most IPO issuers are getting fully prepared for the new system. 

If you have applied for the IPO, you can check your allotment status online.  You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.

Checking the allotment status of Valiant Laboratories Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option
• Under Issue Name – Select Valiant Laboratories Ltd from the drop down box
• Enter the Application Number exactly as in the acknowledgement slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verify that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Valiant Laboratories Ltd allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 06th October 2023.

Checking the allotment status of Valiant Laboratories Ltd on Link Intime India Private Limited (Registrar to the IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Valiant Laboratories Ltd from the drop-down box. In the case of Valiant Laboratories Ltd, data access will be allowed late on 05th of October 2023 or by middle of 06th of October 2023. 

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
• Finally, click on the Search button

The IPO status with number of shares of Valiant Laboratories Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records. The same can be verified with the demat account on 06th October 2023 or after that. The stock is expected to list on Monday, 09th October 2023.