At Rs 18,800 cr, Accent Microcell gets highest bids in SME IPO history. Check GMP and allotment date

The SME IPO of Accent Microcell was subscribed by a whopping 362 times at close with the total bids surpassing the Rs 18,000 crore mark, which is a first for any SME company. The previous record was held by Chennai-based Basilic Fly Studio, whose SME offer garnered bids just over Rs 14,000 crore.

In the grey market, the company's shares are trading with a premium of Rs 195 as against an offer price of Rs 140. The share allotment for the IPO will likely be finalised today.

Here's how you can check the status on BSE:


Step 1: Visit the BSE Website

Step 2: Please select the issue name, that is the company's name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status.

The allotment status can also be checked by visiting the official website of the registrar to the issue which is Bigshare Services in this case.

Step 1: Visit the IPO Allotment Status page on the KFin Technologies website

Step 2: Select IPO from the dropdown

Step 3: Put Application No. and enter the captcha and 'Submit'.

The net proceeds from the public offer will be used to set up a plant for manufacturing Croscarmellose Sodium, and Sodium Starch Glycolate and Carboxymethylcellulose (CMC) and other general corporate purposes.

Given the tremendous response to the IPO, the company's shares are also creating a buzz in the unlisted market. The stock is currently trading with a premium of Rs 210, which is more than double the upper price band.

Accent Microcell manufactures high-quality cellulose-based excipients that predominantly find application in the pharmaceutical, nutraceutical, food, cosmetic and other industries. It makes microcrystalline cellulose, which is an odorless, fine white powder and a purified form of cellulose, derived from the refinement of highly purified wood pulp.

For the three months ended June 2023, the company clocked revenues of Rs 59.9 crore and net profit of Rs 7.05 crore.

The final share allotment for the IPO will likely be made on December 13. The company's shares will get listed on the NSE SME platform on December 15.

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