Atmastco IPO Allotment Status

Atmastco IPO Allotment Status
Atmastco IPO Allotment Status

by Tanushree Jaiswal Last Updated: Feb 21, 2024 - 05:48 pm 444 Views
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About the Atmastco Ltd IPO

The stock of Atmastco Ltd has a face value of ₹10 per share and it is a fixed price issue. The price for the IPO is set at a fixed price level of ₹77 per share. The Atmastco IPO has a fresh issue component and an offer for sale (OFS) portion. It must be remembered that the fresh issue portion is EPS dilutive and equity dilutive, but OFS is just a transfer of ownership and  hence it is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Atmastco Ltd will issue a total of 54,80,000 shares (54.80 lakh shares), which at the fixed IPO price of ₹77 per share aggregates to fresh fund raising of ₹42.20 crore. As part of the offer for sale (OFS) portion of the IPO, the issue will entail the sale / offering a total of 18,25,600 shares (18.256 lakh shares), which at the fixed IPO price of ₹77 per share aggregates to total OFS size of ₹14.06 crore. The entire OFS of 18.256 lakh shares will be by the promoter shareholders of the company. Among the promoters, Subramaniam Swaminathan Iyer will 10.954 lakhs shares while Venkataraman Ganesan will offer 7.302 lakh shares in the OFS.

As a result, the overall IPO size will be a combination of the fresh issue and the offer for sale as explained above. Therefore, the overall IPO size will comprise of the issue and sale of 73,05,600 shares (73.056 lakh shares) which at the upper band IPO price of ₹77 per share will aggregate to overall IPO size of ₹56.25 crore. Like every SME IPO, this issue also has a market making portion with a market maker inventory allocation of 3,66,400 shares. Asnani Stock Brokers Private Ltd will be the market maker to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing.

The promoter stake in Atmastco Ltd  will dilute post the IPO from 97.39% to 68.43%. The fresh issue funds will be used for working capital needs of the company and for repayment / prepayment of some high cost loans. Affinity Global Capital Markes Private Ltd will be the lead manager to the issue, and Cameo Corporate Services Ltd will be the registrar to the issue. The market maker for the issue is Asnani Stock Brokers Private Ltd.

How and when to check allotment status online?

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the NSE stock exchange website. Also, the 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, Cameo Corporate Services Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status on the website of Cameo Corporate Services Ltd (Registrar to IPO)

https://ipo.cameoindia.com/

There are three things to remember. Firstly, there also a way to access this page via the home page of Cameo Corporate Services and clicking on the IPO Status link under the Useful Links drop down at the top of the page. Secondly, you can just click on the hyper link given above and directly go to the allotment checking page. The third option, in case you are not able to click on the link, is to copy the link and paste in your web browser.

Once you reach the relevant page as explained above, 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 Atmastco Ltd on the list around 21st February 2024 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 the next screen.

Input Options to check your allotment status

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Atmastco Ltd from the dropdown box. The allotment status will be finalized on 21st February 2024, so in this case, you can access the details on the registrar website either late on 21st February 2024 or by middle of 22nd February 2024. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. The preferred method, out of the 3 options, 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.

• In all the 3 cases above, please note that after inputting the details as relevant, there will be a 6-digit captcha that will appear and you must enter the captcha exactly as it is. It is fully a numeric captcha and it is meant to confirm that it is not a robotic access. In case you find that the captcha code is not too clear, 
The IPO status with number of shares of Atmastco Ltd allotted will be displayed on the screen. The screen will show the name of the first holder of the demat account, the number of allotted shares, the refund amount (if any), refund mode (cheque / ECS / ASBA) and the query number.

You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 22nd February 2024 with the following details viz. (ISIN - INE05DH01017). Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Atmastco Ltd got.

Subscription response to the IPO of Atmastco Ltd

The response to the IPO of Atmastco Ltd was modest as the overall issue was subscribed 17.61X at the close of bidding on 20th February 2024, which is below the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 18.24 times subscription and the non-retail HNI / NII portion saw 14.92 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 20th February 2024.

Investor
Category
Subscription
(times)
Shares
Offered
Shares
bid for
Total Amount
(₹ in crore)
Market Maker 1 3,66,400 3,66,400 2.82
HNIs / NIIs 14.92 34,69,600 5,17,76,000 398.68
Retail Investors 18.24 34,69,600 6,32,68,800 487.17
Total 17.61 69,39,200 12,21,80,800 940.79

The issue has been very modestly subscribed; hence your chances of allotment would proportionately increase. Investors must keep these calculations in mind while checking the allotment status once it is finalized at the registrar end. Of course, it would eventually depend on the basis of allotment as finalized by the company and approved by exchanges.

The issue is split into retail and HNI portion with a small allocation for the market maker to the IPO. The break-down of the reservation for  different categories of investors is as under.

Investor Category Shares Reservation Quota
Market Maker Shares 3,66,400 shares (5.02%)
QIB Shares Offered There is no QIB allocation in this IPO
NII (HNI) Shares Offered 34,69,600 shares (47.49%)
Retail Shares Offered 34,69,600 shares (47.49%)
Total Shares Offered 73,05,600 shares (100.00%)

Next steps in the IPO process

With the IPO closed for subscription at the end of 20th February, 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 21st February, 2024 and the refunds will be initiated on 22nd February, 2024. In addition, the demat credits are also expected to happen on 22nd February, 2024 and the stock is scheduled to list on 23rd February 2024 on the NSE SME segment. This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated. The demat credits to the demat account to the extent of allotment will happen by the close of 22nd February 2024 under ISIN Number (INE05DH01017).

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About the Author

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

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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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