NEW YORK - Sunrest Lifescience has completed the process for its Initial Public Offering (IPO) allotment, with investors now able to check their allotment status online through Skylinerta or through their bank and Demat accounts. The company announced that refunds for unsuccessful applicants will commence tomorrow, and shares will be credited to the Demat accounts of successful investors by Friday.
The much-anticipated IPO is set to make its market debut on Monday on the NSE SME platform. This follows the completion of the allotment process today, which has been a focal point for potential investors eagerly awaiting confirmation. The upcoming listing date could potentially be moved earlier if T+3 settlement norms are implemented.
Investors have been using various methods such as Application No., Demat Account, or PAN to verify whether they have been allotted shares. The grey market premium (GMP) for Sunrest Lifescience's IPO stands at +15, indicating a ₹15 premium over the issue price. This suggests a strong investor appetite, as the GMP points to a possible opening price of around ₹99 per share, which would represent a 17.86% increase from the IPO price of ₹84.
The sequence of events around the IPO is as follows:
- Today: Allotment finalized and available for checking.
- Tomorrow: Refunds begin for unsuccessful applicants.
- Friday: Shares credited to successful applicants' Demat accounts.
- Monday: IPO expected to list on NSE SME.
Investors and market watchers are keeping a close eye on this development, as the positive GMP hints at a robust debut for Sunrest Lifescience in the stock market.
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