The allotment for Trom Industries IPO is expected to be finalised today. Investors can check their allotment status through the registrar, KFin Technologies. The IPO, which was open from July 25 to July 29, received a solid response from all investor categories. The retail portion was subscribed to 483 times, the NII portion 751 times, and the QIB portion 197 times.
Due to the 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, Trom Industries will start the refund process for the application money on July 31, 2024.
Allotted shares will be credited to investors’ demat accounts on the same day as the refund process. Trom Industries is an SME IPO, with shares scheduled to be listed on the NSE SME platform tentatively on August 01, 2024.
Overall, the IPO was subscribed to 459 times, receiving bids for 83,28,02,400 shares against the available 1,814,400 shares. The IPO size of Trom Industries was ₹31.37 crore, consisting of 27.28 lakh newly issued shares. The IPO price was set in the range of ₹100 to ₹115 per share.
Trom Industries IPO Allotment Status Check
Step 1] Visit the IPO Registrar website at this link: – https://kosmic.kfintech.com/ipostatus/
Step 2] Select Trom Industries from the ‘Select IPO’ dropdown menu.
Step 3] Choose among Application No., Demat Account, or PAN.
Step 4] Enter details as per the option selected.
Step 5] Enter the Captcha code and click on ‘Submit’.
Your Trom Industries IPO allotment status will be displayed on the screen.
About Trom Industries
Established in 2011, it specialises in solar engineering, procurement, and construction (EPC). The company offers a range of services, including residential solar rooftop installations, industrial solar power plants, ground-mounted solar arrays, and solar street lighting. For residential projects, Trom Industries customises solar solutions for individual homes.
In the industrial sector, they manage larger-scale solar plant design and construction. Their ground-mounted systems involve setting up solar panels on open land, while their street light services cater to public and commercial spaces.
In the fiscal year ending March 2024, Trom Industries achieved revenues of ₹54.34 crore, reflecting a substantial 126% increase from ₹30.56 crore in FY23. Their net profit soared to ₹5.72 crore in FY24, a1885% rise compared to ₹28.86 lakh in FY23.
The company operates in a highly competitive and fragmented segment, with inconsistency in its top and bottom lines. However, it posted strong earnings for FY24. Based on these earnings, the issue appears reasonably priced, indicating likely trends going forward. Investors may consider investing for the medium to long term, according to Dilip Davda of Chittorgarh.com.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.