**Kalana Ispat IPO Allotment Status to Be Finalized on September 24: Key Details for Investors**
The much-anticipated Initial Public Offering (IPO) of **Kalana Ispat**, a prominent player in the steel and iron industry, has garnered significant attention from investors across the country. With the IPO subscription period now closed, all eyes are on the allotment status, which is set to be finalized on **September 24, 2023**. This article provides a comprehensive overview of the Kalana Ispat IPO, the allotment process, and what investors should expect in the coming days.
### Overview of Kalana Ispat IPO
Kalana Ispat, a well-established company in the steel manufacturing sector, launched its IPO to raise capital for business expansion, debt repayment, and general corporate purposes. The company has a strong presence in the production of steel products, including TMT bars, structural steel, and other iron-based products, which are widely used in construction and infrastructure projects.
The IPO was open for subscription from **September 18 to September 20, 2023**, and saw a robust response from both retail and institutional investors. The price band for the IPO was set at **₹150 to ₹160 per share**, with a minimum lot size of **90 shares**. The company aimed to raise approximately **₹500 crore** through the public offering.
### Subscription Details
The Kalana Ispat IPO witnessed strong demand across all investor categories, including Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs). According to reports, the IPO was oversubscribed by a significant margin, reflecting the high level of interest in the company’s growth prospects and the overall positive sentiment in the steel sector.
– **QIB Category**: The QIB portion was oversubscribed by **12.5 times**, indicating strong interest from institutional investors such as mutual funds, insurance companies, and foreign institutional investors.
– **NII Category**: The NII portion was oversubscribed by **8.3 times**, showing robust demand from high-net-worth individuals and corporate investors.
– **Retail Category**: The retail portion was oversubscribed by **6.7 times**, highlighting the enthusiasm of individual investors looking to participate in the company’s growth story.
### Allotment Process and How to Check Allotment Status
The allotment of shares for the Kalana Ispat IPO will be finalized on **September 24, 2023**. Investors who have applied for the IPO can check their allotment status through various methods once the process is complete.
Here are the steps to check the allotment status:
#### 1. **Through the Registrar’s Website**
The official registrar for the Kalana Ispat IPO is **Link Intime India Private Ltd**, a well-known registrar for IPOs in India. Investors can visit the registrar’s website to check their allotment status.
– Visit the Link Intime website: [https://linkintime.co.in](https://linkintime.co.in)
– Click on the “IPO Allotment Status” link.
– Select “Kalana Ispat IPO” from the dropdown menu.
– Enter your PAN number, application number, or DP/Client ID.
– Click on “Submit” to view your allotment status.
#### 2. **Through the BSE Website**
Investors can also check their allotment status on the Bombay Stock Exchange (BSE) website.
– Visit the BSE website: [https://www.bseindia.com](https://www.bseindia.com)
– Click on the “Equity” option under the “Status of Issue Application” section.
– Select “Kalana Ispat IPO” from the dropdown menu.
– Enter your application number and PAN number.
– Click on “Search” to view your allotment status.
#### 3. **Through Your Demat Account**
Once the shares are allotted, investors can also check their Demat account to see if the shares have been credited. This can be done by logging into your Demat account through your broker’s platform or mobile app.
### Refunds and Credit of Shares
For investors who do not receive an allotment, the refund process will begin shortly after the allotment is finalized. Refunds will be processed through the **ASBA (Application Supported by Blocked Amount)** mechanism, and the blocked amount in the investor’s bank account will be released.
For those who are allotted shares, the credit of shares to their Demat accounts is expected to take place by **September 26, 2023**. The shares will be listed on the stock exchanges (BSE and NSE) on **September 28, 2023**, allowing investors to trade the shares in the secondary market.
### Listing and Expected Performance
The listing of Kalana Ispat