Thu Sep 12 06:55:54 UTC 2024: ## Shubhshree Biofuels Energy IPO Allotment Finalized, Oversubscribed 132 Times

**Mumbai, September 12, 2024:** The allotment process for the Shubhshree Biofuels Energy IPO has been finalized today. Investors can check their allotment status through the registrar, Bigshare Services, using their PAN Number, Beneficiary ID, or Application No/CAF No.

The IPO, which was open for subscription from September 9 to September 11, witnessed an overwhelming response from investors, being oversubscribed by a whopping 132 times. The non-institutional investor (NII) segment was particularly enthusiastic, oversubscribing the issue by 245 times. Retail investors also participated enthusiastically, oversubscribing their portion by 135 times.

Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to begin on September 13, 2024. Allotted shares will be credited to investors’ demat accounts on the same day as the refunds. The SME IPO is anticipated to be listed on the NSE SME platform around September 16, 2024.

Shubhshree Biofuels Energy plans to utilize the IPO proceeds to fund capital expenditure for additional plant and machinery, meet working capital needs, and support general corporate purposes.

The company specializes in supplying biomass fuels, including pellets and briquettes, which serve as an eco-friendly alternative to fossil fuels like coal and firewood. These fuels find application in various sectors, including commercial and industrial heating, cooking, and electricity generation.

While the current grey market premium (GMP) for the Shubhshree Biofuels IPO is reported at ₹0 per share, suggesting a potential flat listing, investors should remember that GMP is merely an initial indicator and should not be the sole basis for investment decisions.

**Disclaimer:** The views and recommendations given in this article are those of individual analysts and do not represent the views of Mint. Investors are advised to consult with certified experts before making any investment decisions.

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