Arabian Petroleum IPO: How to check allotment status
Understand the basics of the Arabian Petroleum Ltd IPO
The IPO of Arabian Petroleum Ltd opened on 25th September 2023 and closed for subscription on 27th September 2023. The company has a face value of ₹10 per share and it is a fixed price issue, with the IPO price at ₹70 per share. As part of the fresh issue portion of the IPO, Arabian Petroleum Ltd will issue 28,92,000 shares (28.92 lakh shares). At the IPO fixed price of ₹70 per share, the fresh issue portion aggregates to ₹20.24 crore. Since there is no offer for sale portion, the total issue size of Arabian Petroleum Ltd will also entail the issue of 28,92,000 shares (28.92 lakh shares). At the fixed IPO price of ₹70 per share, the total size of the IPO of Arabian Petroleum Ltd will be worth ₹20.24 crore.
The minimum lot size for the IPO investment will be 2,000 shares. Thus, retail investors can invest a minimum of ₹140,000 (2,000 x ₹70 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 4,000 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. The issue is lead managed by Hem Securities Ltd, while Purva Share Registry India Private Ltd will be the registrars to the issue.
Checking allotment status of Arabian Petroleum Ltd IPO
How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Purva Share Registry India Private Ltd. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of Arabian Petroleum Ltd on the website of Purva Share Registry India Private Ltd (Registrar to IPO)
Visit the Purva Share Registry India Private Ltd registrar website for IPO status by clicking on the link below:
Here, as soon as you click on the link, you are brought to the main landing page. On the top of the page will be the option to select the company for which you want to check the allotment status. Here the company will be available on the drop down list only after the allotment status is finalized on 04th October 2023. You can then select the stock of Arabian Petroleum Ltd IPO from the drop down list to check the allotment status.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Arabian Petroleum Ltd from the drop down box. The allotment status will be finalized on 04th October 2023, so in this case, you can access the details on the registrar website either late on 04th October 2023 or by middle of 05th October 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO.
Firstly, you can access with Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip given to you post the IPO application process. After that you can click on the Search button to get the details of shares allotted to you in the IPO.
Secondly, you can also search by Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.
The IPO status with number of shares of Arabian Petroleum Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 06th October 2023.
How allocation quota and subscription impact basis of allotment?
Here is a quick look at how the allocation was made across different categories of investors in the IPO of Arabian Petroleum Ltd.
|Anchor Investor Shares Offered||Nil Shares|
|Market Maker Shares Offered||1,48,000 shares (5.12%)|
|NII (HNI) Shares Offered||13,72,000 shares (47.44%)|
|Retail Shares Offered||13,72,000 shares (47.44%)|
|Total Shares Offered||28,92,000 shares (100.00%)|
The response to the IPO of Arabian Petroleum Ltd was robust and it was subscribed 19.91X overall at the close of bidding on 27th September 2023 with the retail segment seeing 23.19 times subscription and the non-retail or HNI / NII portion seeing 15.72 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 27th September 2023. Normally, higher the subscription levels, the lower are the chances of allotment.
(₹ in crore)
|HNI / NIIs||15.72||13,72,000||2,15,74,000||151.02|
|Total Applications:||15,909 (23.19 times)|
The basis of allotment will be finalized on 04th September 2023, the refunds will be initiated on 05th September 2023, demat credits will be finalized on 06th September 2023, while the stock of Arabian Petroleum Ltd will get listed on the NSE SME segment on 09th September 2023. This is the segment on the NSE, where start-ups and smaller companies are incubated.
DisclaimerInvestment/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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