Both Waaree Energies and Deepak Builders & Engineers have got significant oversubscriptions. Today, October 24 is the day when allotment of both Waaree Energies IPO and Deepak Builders & Engineers IPO are supposed to be finalised. With huge oversubscriptions, getting shares from IPOs is a matter of luck.
The surest confirmation for successful bids is receipt of text messages, alerts and/or emails for debit of funds. Since both the IPOs displayed significant GMPs – Waaree Energies above 90% and Deepak Builders & Engineers above 30% — those investors whose bids will be accepted will consider themselves lucky. If they don’t get any shares, the communication for revocation of the IPO payment mandate will also be sent by October 25, the latest.
How to check allotment for both IPOs
Investors, who bid for Waaree Energies IPO, can easily log into the BSE (Bombay Stock Ecahnge) website https://www.bseindia.com/investors/appli_check.aspx and do the following:
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1. Click EQUITY under the issue type
2. A dropbox will appear under the issue name; select Waaree Energies Limited there
3. Type in the application number
4. Type in the PAN ID
5. There will be an option ‘I am not a Robot’. Click it and click the search button
To check the allotment status for Deepak Builders & Engineers India Ltd repeat the process by tying in “Deepak Builders & Engineers India Ltd” in step 2.
Another way of finding out allotment status
Another way to find out allotment is to enter the websites of the registrars to the relevant IPO. Enter the website of KFin Technologies which is the registrars to the IPO. One has to select ‘Deepak Builders & Engineers India Limited’ from the list of IPOs mentioned in the dropdown menu. For Waaree Energies IPO enter the portal of Link Intime India, the registrar to the issue.
Oversubscription in these IPOs
The Waaree Energies IPO was oversubscribed 76.34 times with investors bidding for 160.91 crore shares while only 2.1 crore were on offer. On the other hand, the Deepak Builders & Engineers IPO was oversubscribed 41.54 times.
