The initial public offering (IPO) of Arrowhead Separation Engineering, a company specializing in advanced drying solutions, has been met with overwhelming investor interest, achieving a 94.79x oversubscription. The IPO, which commenced on Thursday last week with an issue price band of Rs 233 per share, concluded its subscription period on Monday.
Arrowhead, established in 1991, has carved out a niche in manufacturing rotary dryers and other drying equipment, exporting its products internationally. The company’s commitment to ethical business practices and customer satisfaction is overseen by experienced executive directors. The total offering consisted of 558k shares valued at Rs 10 face value each, available in lot sizes of 600 shares.
Key upcoming dates for investors include:
- The tentative allotment date is set for Thursday, November 23, where the company will finalize the distribution of shares.
- Following the allotment, the commencement date for refunding unsuccessful bids is scheduled for Friday, November 24.
- Shares are expected to be credited to Demat accounts by Tuesday, November 28.
- Arrowhead is slated to make its debut on the BSE SME exchange on Wednesday, November 29.
Investors who participated in the IPO can verify their allotment status through Cameo Corporate Services or the official BSE website using unique identifiers like PAN or application numbers. The strong demand for Arrowhead’s shares indicates robust market confidence as the company gears up for its listing on the BSE SME platform.
