Canarys Automations IPO: How to check the Allotment Status
The IPO of Canarys Automations Ltd opened for subscription on 27th September 2023 and closed for subscription on 03rd October 2023. The company stock has a face value of ₹2 per share and it is a Book Built issue; with the book building price band set in the range of ₹29 to ₹31 per share. The IPO of Canarys Automations Ltd has only a fresh issue component and no offer for sale (OFS) component. As part of the fresh issue portion of the IPO, Canarys Automations Ltd will issue a total of 1,51,72,000 shares (151.72 lakh shares). At the upper band of the IPO price of ₹31 per share, the fresh issue portion aggregates to ₹47.03 crore. Since there is no offer for sale portion, the fresh issue will also be the total size of the issue. Thus, the overall IPO will also entail the issue of 1,51,72,000 shares (151.72 lakh shares) with an IPO value of ₹47.03 crore.
The minimum lot size for the IPO investment will be 4,000 shares. Thus, retail investors can invest a minimum of ₹124,000 (4,000 x ₹31 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 8,000 shares and having a minimum lot value of ₹248,000. There is no upper limit for the QIBs and the HNI / NII investors.
When and How to check the basis of allotment status?
The basis of allotment will be finalized on 06th October 2023 and the refunds will be initiated on 09th October 2023. In addition, the demat credits are expected to happen on 10th October 2023 and the stock is scheduled to list on 11th October 2023 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 company had a pre-IPO promoter holding of 77.49% and post the IPO, the promoter stake in Canarys Automations Ltd will stand diluted to 56.56%.
Let us now turn to the million dollar question; How to check the allotment status? Since this is an NSE SME IPO, there is no facility to check on the exchange website since NSE does not offer that facility. On the other hand, the BSE only offers allotment status for 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, Link Intime India Private Limited. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of Canarys Automations Ltd on Link Intime India Private Limited (Registrar to the IPO)
Visit the Link Intime registrar website for IPO status by clicking on the link below:
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Canarys Automations Ltd from the drop-down box. In the case of Canarys Automations Ltd, data access will be allowed late on 06th October 2023 or by middle of 07th October 2023.
There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
- If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
- The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
- The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
- The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
- Finally, click on the Search button.
You can get the exact allotment status on the number of shares allotted to you. The IPO status with number of shares of Canarys Automations Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records and later ever for reconciliation with the demat account status when shares are credited to your demat account on 10th October 2023.
But what exactly determines the success or otherwise of you getting allotment? It is the allocation quota and the subscription levels
Allocation quota and subscription levels for Canarys Automations Ltd
The table below captures the quota allocated to various categories, in terms of the number of shares and also the percentage of the total share capital raised. For investors it is the quota for the retail and the HNI that really matters.
|Investor Category||Shares Offered|
|Anchor Investor Shares Offered||32,32,000 shares (22.05%)|
|Market Maker Shares Offered||7,60,000 shares (5.19%)|
|QIB Shares Offered||28,80,000 shares (19.65%)|
|NII (HNI) Shares Offered||27,36,000 shares (18.67%)|
|Retail Shares Offered||50,48,000 shares (34.44%)|
|Total Shares Offered||1,46,56,000 shares (100.00%)|
The next thing to look at is the extent of subscription. The table below captures the extent of oversubscription for each of the categories as well as the overall subscription.
|HNIs / NIIs||14.29||27,36,000||3,91,04,000||121.22|
The response to the IPO of Canarys Automations Ltd was modest and it was subscribed 9.94X overall at the close of bidding on 03rd October 2023. The HNI / NII portion was subscribed 14.29 times while the retail portion was subscribed 11.70 times. This is modest subscription and gives a good chance of allotment in the IPO. The same can be checked using the allotment checking modus operandi explained above.
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.
In the heart of the bustling Indian stock market, a tale of triumph unfolded on November 30th, as Tata Technologies made an awe-inspiring debut. The curtains lifted at ₹1,200 apiece on the National Stock Exchange (NSE), casting a premium spell of 140% over the issue price of ₹500 per share. This stellar entry marked the grandest listing since November 2021, echoing through the financial corridors with waves of excitement.
- Dec 08, 2023Read More