We're all set for a new experience. To visit the old Ventura website, click here.
Ventura Wealth Clients

NeoPolitan Pizza IPO allotment set for October 7

Stocks
2 min Read Oct 8, 2024
Share

NeoPolitan Pizza and Foods Limited are set to finalise its IPO share allotment status on Monday, October 7. The company's ₹12-crore initial public offering (IPO) saw a significant response from investors, and all eyes are now on the allotment process. For those looking to invest in IPOs, this has been an exciting opportunity to participate in a rapidly growing quick-service restaurant (QSR) chain.

IPO overview and subscription details

NeoPolitan Pizza and Foods Limited's IPO, worth ₹12 crores, was open for subscription from September 30 to October 4. It was a fixed price issue at ₹20 per share, offering 60 lakh shares with no Offer-for-Sale (OFS) component. The IPO was subscribed an impressive 32.77 times, with retail investors showing the strongest interest, subscribing over 42 times their allotted portion.

Retail investors had the opportunity to apply for a minimum lot size of 6,000 shares, requiring an investment of ₹1,20,000. Turnaround Corporate Advisors managed the IPO as the book-running lead manager for this BSE SME issue.

Checking NeoPolitan Pizza IPO allotment status

Investors can easily check the allotment status through two platforms:

  • On Bigshare Services Pvt Ltd

    1. Visit Bigshare Services.

    2. Select "IPO allotment status" and choose the company.

    3. Provide the application number, PAN, or beneficiary ID.

    4. Complete the captcha and click "Search."

  • On BSE website

    1. Visit the BSE website.

    2. Navigate to "Public Issues" and select "Application Status."

    3. Choose 'Equity,' select the company, and enter PAN details or application number.

NeoPolitan Pizza and Foods IPO listing and refund process

The listing of NeoPolitan Pizza's shares on the BSE SME platform is scheduled for October 9, 2024. Refunds and crediting of shares to demat accounts will begin on October 8, ahead of the listing.

Key objectives of NeoPolitan Pizza's IPO

The funds collected from this IPO will help NeoPolitan Pizza expand its market presence. The company aims to open 16 new Quick Service Restaurants across India, with a focus on Gujarat. A portion of the funds will also be used to meet the company's working capital requirements, further strengthening its financial position.

Key takeaways

  • The ₹12-crore IPO was subscribed 32.77 times.

  • Retail investors subscribed 42 times their portion.

  • Allotment can be checked via Bigshare Services or the BSE website.

  • Shares will be listed on October 9, 2024.

  • IPO proceeds will be used for expansion and working capital.

For those looking to invest in IPOs, NeoPolitan Pizza’s offering presents a promising opportunity for long-term growth.