Accent Microcell IPO Allotment Status

Accent Microcell IPO Allotment Status
Accent Microcell IPO Allotment Status

by Tanushree Jaiswal Last Updated: Dec 14, 2023 - 10:52 am 979 Views
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About the IPO of Accent Microcell Ltd

Accent Microcell IPO opened for subscription on 08th December 2023 and closed for subscription on 12th December 2023. The stock of Accent Microcell Ltd had a face value of ₹10 per share and it is a book building issue with the price band fixed in the range of ₹133 to ₹140 per share for the IPO. The final price will be discovered within this price band. The IPO of Accent Microcell Ltd only had a fresh issue component with no offer for sale (OFS) portion. As part of the fresh portion of the IPO, Accent Microcell IPO issued a total of 56,00,000 shares (56 lakh shares), which at the upper IPO band price of ₹140 per share aggregates to a total fresh issue size of ₹78.40 crore. Since there is no offer for sale portion, the total size of the fresh issue will also double up as the total size of the IPO. Hence the total IPO size also comprised of 56.00 lakh shares, which at the upper price band of ₹140 per share aggregated to overall issue size of ₹78.40 crore.

The minimum lot size for the IPO investment will be 1,000 shares. Thus, retail investors can invest a minimum of ₹140,000 (1,000 x ₹140 per share) in the IPO. That is also the maximum that the retail investors can invest in the IPO. HNI / NII investors can invest a minimum of 2 lots comprising of 2,000 shares and having a minimum lot value of ₹280,000. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. Like every SME IPO, this issue also has a market making portion with a market maker portion allocation of 2,80,000 shares. The market maker for the issue; Prabhat Financial Services Ltd, will provide two-way quotes to ensure liquidity and low basis costs post listing. Post the IPO, the promoter stake in Accent Microcell Ltd gets diluted from 73.13% to 53.67%. Accent Microcell Ltd will use the fresh funds to set up a plant at Navagam Kheda to manufacture croscarmellose sodium (CCS) and sodium starch glycolate. Corporate Capitalventures Private Ltd is the lead manager to the issue, and KFIN Technologies Ltd is the registrar to the IPO.

What you must know about allotment status checking?

Allotment status online is an internet facility that is provided by the BSE (formerly Bombay Stock Exchange) in the case of mainboard IPOs and BSE SME Segment IPOs as well as by the registrars on their website. Many of the brokers also provide direct connectivity to the database. However, in the absence of any connectivity, one option you always can use is the registrar access to the allotment status. In this case, Accent Microcell Ltd is an NSE SME Emerge IPO and hence the data would not be available on the website of BSE. 
NSE does not provide this facility on its website. That means; you can only check the allotment status on the website of the IPO registrar, KFIN Technologies Limited (formerly Karvy Computershare). The allotment in the IPO will depend on the extent of the oversubscription across the retail, HNI / NII and the QIB portion and it is the valid applications that will make the cut. But we will look at that later. Let us first look at how to check the allotment status of the Accent Microcell Ltd IPO. Here are the steps.

When and where to check the allotment status?

When can the allotment status be checked. The IPO allotment status will be finalized on December 13th, 2023. Hence, either late on December 13th, 2023 or by middle of December 14th, 2023, the allotment status can be checked online on the website of the IPO registrar. Where can the allotment status be checked? Typically, in all the mainboard issues, it is possible to get the allotment status of the IPO either at the BSE website or on the website of the registrar to the IPO. 
However, Accent Microcell Ltd IPO being an NSE-SME Emerge IPO, it would be listed only on the NSE and not on the BSE. Hence BSE will not be providing the allotment status for this IPO, while NSE does not normally offer online allotment status on their website. Hence, in the case of Accent Microcell Ltd IPO, the only way is the check on the website of KFIN Technologies, the registrar to the IPO.

Checking the allotment status of Accent Microcell Ltd on KFIN Technologies Ltd (Registrar to IPO)

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:

https://ris.kfintech.com/ipostatus/

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there is also a way to access this page via the home page of KFINTECH India Ltd but that pathway is slightly more complex as the website is designed more as a B2B website, so you can avoid that.

Here you are given the choice to select 5 servers viz. Link 1, Link 2, Link 3, Link 4, and Link 5. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 3 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select.

A small thing to remember here. Unlike on the BSE website, where the names of all IPOs are there on the drop-down menu, the registrar will only provide of the IPOs managed by them and where the allotment status is already finalized. Also, for simplicity, you can either choose to see all IPOs or just recent IPOs. Choose the latter, as that reduces the length of the list of IPOs you need to search through. Once you click on Recent IPOs, the dropdown will only show the recent active IPOs, so once the allotment status is finalized, you can select Accent Microcell Ltd from the drop-down box. In this case, the name of Accent Microcell Ltd will be available on the dropdown from 13th December 2023, when the basis of allotment is finalized.

•    There are 3 options. You can either query the allotment status based on PAN, Application Number or Demat Account (DPID-Client ID combination).

•    To Query by PAN, check the appropriate box and follow these steps.
o    Enter the 10-digit PAN number
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment status gets displayed on screen

•    To Query by Application Number, check the appropriate box and follow these steps.
o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen

In the past, the first step was to select Application Type (ASBA or Non-ASBA) before inputting your application number. Now, that step has been done away with.

•    To Query by Demat Account, check the appropriate box and follow these steps.
o    Select the depository (NSDL / CDSL)
o    Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
o    Enter the Client-ID
o    In the case of NSDL, the Demat account is 2 strings
o    In the case of CDSL, the Demat account is just 1 string
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen

It is always advisable to retain a saved screenshot of the allotment status output for future reference. The same can be tallied with the demat account credit subsequently after the demat allocation is completed by the end of December 14th 2023. The demat credit to the extent of shares allotted in the IPO would be visible under (ISIN - INE0Q5D01013) in your demat account mandate provided in the IPO application.

Subscription status for the Accent Microcell Ltd IPO

Here is the final subscription status of the Accent Microcell IPO as at close on 12th December 2023, at 17.30 hours.

Investor 
Category
Subscription 
(times)

 
Shares 
Offered
Shares 
bid for
Total Amount 
(₹ in crore)
Anchor Investors 1 15,96,000  15,96,000 22.34
Market Maker 1 2,80,000 2,80,000 3.92
QIB Investors  118.48            10,64,000 12,60,62,000 1,764.87
HNI / NIIs 576.66 7,98,000 46,01,74,000 6,442.44
Retail Investors 409.71 18,62,000 76,28,83,000 10,680.36
Total 362.28 37,24,000 1,34,91,19,000 18,887.67
        Total Applications: 762,883 (409.71 times)


The issue was only open for QIBs, retail investors and for the HNI / NIIs. There was a broad quota designed for each of the segments viz. QIB, the retail and the HNI NII. As can be seen above, the overall IPO got subscribed an impressive 362.28 times with the retail portion subscribed 409.71 times, QIB portion subscribed 118.48 times, and the HNI / NII portion subscribed an impressive 576.66 times at the close of the third and final day of the IPO on December 12th 2023. 

The table below captures the allocation reservation done for each of the categories. 

Investor Category Share Reservation Quota
Market Maker Shares 2,80,000 shares (5.00% of total issue size)
Anchor shares Allocation 15,96,000 shares (28.50% of total issue size)
QIB Shares Offered 10,64,000 shares (19.00% of total issue size)
NII (HNI) Shares Offered 7,98,000 shares (14.25% of total issue size)
Retail Shares Offered 18,62,000 shares (33.25% of total issue size)
Total Shares Offered 56,00,000 shares (100.00% of total issue size)

The net issue in the IPO above is the issue size net of the market making portion. The anchor allocation above is carved out of the overall QIB quota. The market maker uses the shares to offer buy and sell quotes on the counter post listing so as to keep the counter liquid and reduce the basis risk of trading in the stock.

Brief on the next steps on Accent Microcell Ltd IPO

The IPO just closed on Tuesday, 12th December 2023 and at the close of the third and final day of the IPO, the issue was subscribed 362.28 times overall. That is a very impressive and substantial subscription figure and to a large extent it reduces the chances of getting IPO allotment in the IPO. The basis of allotment will be finalized on 13th December 2023 while the refunds to non-allottees will be initiated on the 14th December 2023. The company expects to complete the demat credits to the allottees as of 14th December 2023, while the company plans to list its IPO on the NSE SME Emerge Segment on 15th December 2023.
 

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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