Arvind and Company Shipping Agencies IPO: How to check the Allotment Status
Gist of the Arvind and Company Shipping Agencies Ltd IPO
The IPO of Arvind and Company Shipping Agencies Ltd opened for subscription on 12th October 2023 and closed for subscription on 16th October 2023. The company had a face value of ₹10 per share and, being a fixed price IPO, its issue price had already been fixed at ₹45 per share. The IPO of Arvind and Company Shipping Agencies Ltd has only a fresh issue component with no book built portion. As part of the fresh issue portion of the IPO, Arvind and Company Shipping Agencies Ltd will issue 32,76,000 shares (32.76 lakhs), which at the fixed IPO price of ₹45 per share aggregates to a fresh issue of ₹14.74 crore. Since there is no offer for sale portion, the fresh issue size will also be the total size of the IPO. The overall IPO will also comprise of the issue of 32.76 lakh shares, which at the fixed IPO price of ₹45 per share will aggregate to total issue size of ₹14.74 crore.
The minimum lot size for the IPO investment will be 3,000 shares. Retail investors can invest a minimum of ₹135,000 (3,000 x ₹45 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 6,000 shares and having a minimum lot value of ₹270,000. There is no upper limit QIBs and HNI / NII investors. The IPO of Arvind and Company Shipping Agencies Ltd has a market making allocation of 1,68,000 shares with Spread X Securities Ltd as the market maker to provide liquidity on the counter at low basis risk. Post the issue, the promoters will see their stake diluted from 100.00% to 73.01%. The company will use the fresh issue proceeds to fund its upcoming capex expenditure and for general corporate purposes. Beeline Capital Advisors Private Ltd will be the lead manager to the issue and Skyline Financial Services Private Ltd will be the issue registrar.
When to check allotment status online?
The basis of allotment will be finalized on 19th October 2023, the refunds will be initiated on 20th October 2023, demat credits will also be finalized on 23rd October 2023, while the stock of Arvind and Company Shipping Agencies Ltd will get listed on the NSE SME Emerge segment on 25th October 2023.
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 in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the website of the IPO registrar, Skyline Financial Services Private Ltd. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of Arvind and Company Shipping Agencies Ltd on the website of Skyline Financial Services Private Ltd (Registrar to IPO)
Visit the Skyline Financial Services Private Ltd registrar website for IPO status by clicking on the link below:
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 also a way to access this page via the home page of Skyline Financial Services Private Ltd by clicking on the Public Issues link displayed prominently on the home page. It all works the same.
The first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Arvind and Company Shipping Agencies Ltd on the list around 19th October 2023 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to next screen.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Arvind and Company Shipping Agencies Ltd from the dropdown box. The allotment status will be finalized on 19th October 2023, so in this case, you can access the details on the registrar website either late on 19th October 2023 or by middle of 20th October 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. All the three can be selected from the same screen by opting for the preferred radio button.
- Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Search Button in either cases.
- Secondly, 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.
- Thirdly, 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 Arvind and Company Shipping Agencies 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 23rd October 2023 or after that.
Remember that the two most important factors in assessing your chances of getting allotment is the overall quota allocation in the IPO and extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Let us first look at the overall quota allocation and then at the extent of oversubscription that the IPO of Arvind and Company Shipping Agencies Ltd received.
Why the IPO quotas matter to the basis of allotment?
Your chances of allotment depend on the number of shares allotted to the quota. Typically, it is the retail and HNI quota that is of relevance here. The table below captures the individual quotas allocate for retail investors and for HNI / NII investors.
|Investor Category||Shares Offered|
|Anchor Investor Shares Offered||Nil Shares|
|Market Maker Shares Offered||1,68,000 (5.13%)|
|Other Shares Offered||15,54,000 (47.44%)|
|Retail Shares Offered||15,54,000 (47.44%)|
|Total Shares Offered||32,76,000 (100.00%)|
It is a relatively small sized issue with a limited quota of shares available for retail and for the HNI / NII investors. Hence, it would be dependent on how much the issue gets subscribed. But, prima facie, the quota allocated is quite low, so the investors will start of on the chance of allocation with a disadvantage.
What do the subscriptions mean for basis of allotment?
The response to the IPO of Arvind and Company Shipping Agencies Ltd was very strong as the overall issue was subscribed 385.03X at the close of bidding on 16th October 2023. That is impressively higher than the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 21.27 times subscription and the non-retail HNI / NII portion saw 95.16 times subscription. The QIB portion was subscribed 42.74 times. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 16th October 2023.
(₹ in crore)
|HNI / NIIs||436.05||15,54,000||67,76,19,000||3,049.29|
|Total Applications:||166,780 (321.97 times)|
The subscription to the IPO is extremely robust and that sharply reduces the chances of your getting the allotment in the IPO. However, you would have for the basis of allotment to be finalized before checking the status.
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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