Sylvan Plyboard (India) IPO Allotment Update: After receiving a robust response from investors during the bidding period from June 24 to June 26, attention now turns to the allotment procedure for Sylvan Plyboard.
The allotment for the Sylvan Plyboard IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Bigshare Services Pvt. Ltd.
With oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Sylvan Plyboard will commence the refund process for the application money on June 28, 2024.
Concurrently, allotted shares will be credited to investors’ demat accounts on the same day following the refund process. Sylvan Plyboard is an SME IPO, with shares slated to be listed on the NSE SME platform, tentatively scheduled for July 01, 2024.
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Steps to check the Sylvan Plyboard IPO allotment status on the register’s website
If you have applied for the Sylvan Plyboard IPO, you can check your allotment status on the website of the IPO registrar.
Step 1: Use the Bigshare URL, https://ipo.bigshareonline.com/ipo_status.html, to directly input your login details.
Step 2: From the list of firms, choose “Sylvan Plyboard IPO.”
Step 3: Opt for “PAN Number, Beneficiary ID, or Application No./CAF No.”
Step 4: Simply press “Search.”
You may view your Sylvan Plyboard IPO on your phone’s display or on a computer monitor.
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About Sylvan Plyboard
The company is engaged in the manufacturing of various wood products, such as plywood, block board, flush door, veneer, and sawn timber, across various grades and thickness. The company markets its products under the brand name “Sylvan” through its network of authorised dealers and authorised sub-dealers.
Currently, the company has 223 authorised dealers present across 13 states. It has more than 12 numbers of plywood products in its basket, ranging in thickness from 4 mm to 40 mm. The plywood segment (including Block Board and Flush Door) contributes 82% of its revenue from operations, according to the company’s DRHP report.
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Sylvan Plyboard IPO details
The IPO size of Sylvan Plyboard was ₹28 crore, consisting of 51 lakh newly issued shares with an IPO price of ₹55 apiece. Finshore Management Services Limited is the book-running lead manager of the Sylvan Plyboard IPO, while the market maker for the Sylvan Plyboard IPO is Black Fox Financial.
The company plans to allocate the net proceeds raised from the issue for several strategic purposes, including funding capital expenditure for purchasing additional plant and machinery, meeting working capital requirements, covering issue expenses, and addressing general corporate purposes.
Sylvan Plyboard IPO subscription status
The Sylvan Plyboard IPO saw robust demand, being subscribed to over 84.03 times.
In monetary terms, the IPO attracted bids worth ₹2,238 crore. The retail category was subscribed to 84.11 times, with bids for 40,70,54,000 shares against the offered 4,844,000 shares, according to Chittorgarh.
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