Aspire & Innovative Advertising IPO Allotment Status

Tanushree Jaiswal Tanushree Jaiswal 2nd April 2024 - 06:00 pm
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Building blocks of the Aspire & Innovative Advertising Limited Ltd IPO

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024. Aspire & Innovative IPO will list on NSE SME with the tentative listing date fixed as Wednesday, April 3, 2024.

Aspire & Innovative IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.

Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Aspire & Innovative IPO is Hem Finlease.

How to check allotment status of Aspire & Innovative Ltd IPO

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, Bigshare Services Pvt 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 on the website of the IPO registrar, Bigshare Services Pvt Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on 01stApril 2024.

Checking the allotment status on Bigshare Services Pvt Ltd (Registrar to IPO)

Visit the Bigshare Services Pvt Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://ipo.bigshareonline.com/IPO_Status.html#google_vignette

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 Bigshare Services Pvt Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Bigshare Services Pvt Ltd the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

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 showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Bigshare Services Pvt Ltd offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on 01stApril 2024, so the investors would be able to access the online allotment status facility, either late on 01stApril 2024 or by the middle of 02ndApril 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on 2ndApril 2024 or later. It would appear on the demat account with ISIN Number.

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 Aspire & Innovative Ltd at the close of the IPO on 28thMarch 2024.

Investor Category Shares Allocated in IPO
Market Maker Shares 204,000 shares (5.01%)
Anchor Allocation Portion 1,156,000 shares (28.42%)
QIB Shares Offered 774,000 shares (19.03% )
NII (HNI) Shares Offered 580,000 shares (14.26% )
Retail Shares Offered 1,354,000 shares (33.28% )
Total Shares Offered 4,068,000 shares (100.00%)

Data Source: NSE

Retail investors displayed the highest level of enthusiasm, subscribing the IPO 16.39 times. This robust subscription reflects strong retail participation and suggests a keen interest among individual investors in the offering. Qualified Institutional Buyers (QIBs) showed moderate interest, subscribing 5.21 times.

While the subscription level in this category was relatively lower compared to the retail segment, it still indicates a decent level of institutional participation in the IPO. Non-Institutional Buyers (NIIs) exhibited significant interest, subscribing the IPO 25.60 times. This category saw the highest oversubscription, indicating strong demand from high net-worth individuals and other non-institutional investors.

Overall, the IPO garnered a subscription of 15.17 times, reflecting healthy demand from various investor segments. The oversubscription, particularly in the retail and NII categories, suggests positive market sentiment and confidence in the offering. This enthusiastic response bodes well for the successful listing and performance of Aspire & Innovative IPO in the stock market.

Here is final subscription status of Aspire & Innovative Ltd IPO as at closed on 28th March 2024.

Investor Category Subscription (times) Shares Offered Shares bid for Total Amount (Rs Cr.)
Anchor Investors 1 11,56,000 11,56,000 6.24
Market Maker 1 2,04,000 2,04,000 1.10
Qualified Institutions 5.21 7,74,000 40,36,000 21.79
Non-Institutional Buyers 25.60 5,80,000 1,48,50,000 80.19
Retail Investors 16.39 13,54,000 2,21,98,000 119.87
Total 15.17 27,08,000 4,10,84,000 221.85
Total Applications : 11,099

To sum it up, the subscription is quite modest, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of Aspire & Innovative Ltd

With the IPO of Aspire & Innovative Ltd closed for subscription at the end of 28thMarch 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 01st April 2024 while the refunds would be initiated on 2ndApril 2024. The shares of Aspire & Innovative Ltd would be credited to the demat accounts of eligible shareholders by the close of 2nd April 2024 while the stock of Aspire & Innovative Ltd is expected to be listed on 03rdApril 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

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