Crop Life Science IPO : How to check the Allotment Status

Crop Life Science IPO Allotment Status
Crop Life Science IPO Allotment Status

by Tanushree Jaiswal Last Updated: Aug 25, 2023 - 01:22 pm 335 Views

The ₹26.73 crore IPO of Crop Life Science Ltd comprises entirely of a fresh issue of shares with no offer for sale (OFS) component. The total SME IPO of Crop Life Science Ltd entails issue of 51.40 lakh shares which at fixed IPO price of ₹52 per share aggregates to ₹26.73 crore. The fresh issue portion is also the total size of the issue of Crop Life Science Ltd. The stock has a face value of ₹10 and retail bidders can bid in minimum lot size of 2000 share each. Thus, the minimum investment of ₹104,000 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO. Here is a break-up of the total shares issued by the company and its quota allocated for different groups of investors.

Anchor Investor Shares Offered Nil
Market Maker Shares Offered 2,60,000 shares (5.06%)
Other Shares Offered 24,40,000 shares (47.47%)
Retail Shares Offered 24,40,000 shares (47.47%)
Total Shares Offered 51,40,000 shares (100%)

The response to the IPO of Crop Life Science Ltd was very moderate and it was subscribed just about 4.36X overall at the close of bidding on 22nd August 2023 with the retail segment seeing the best 7.15 times subscription, and the non-retail portion seeing 1.56 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 22nd August 2023.

Investor Category Subscription (times) Shares Bid for Total Amount (₹ in cr)
HNI / NII  1.56X 38,12,000 19.82
Retail Investors 7.15X 1,74,36,000 90.67
Total 4.36X 2,12,76,000 110.64
    Total Applications: 8,718 (7.15 times)

The basis of allotment will be finalized on Friday, 25th August 2023, the refunds will be initiated on 28th August 2023, demat credits will be finalized on 29th August 2023, while the stock of Crop Life Science Ltd will get listed on the NSE on 30th August 2023. The company had a pre-IPO promoter holding of 100.00% and post the IPO, the promoter stake in Crop Life Science Ltd will stand reduced proportionately to 70.01%. On listing, the company will have an indicative P/E ratio of 14.29X.

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 either 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 Crop Life Science 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:

https://www.purvashare.com/queries/

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 25th August 2023. You can then select the stock of Crop Life Sciences 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 Crop Life Sciences Ltd from the dropdown box. The allotment status will be finalized on Friday, 25th August 2023, so in this case, you can access the details on the registrar website either late on 25th August 2023 or by middle of 26th August 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 Crop Life Science 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 29th August 2023.

A brief on Crop Life Science Ltd and the SME IPO

Crop  Life Science Ltd, is an SME IPO on the NSE which opened for subscription on 18th August 2023. The company, Crop  Life Science Ltd, was incorporated in the year 2006. The company is engaged in the business of manufacturing, distributing, and marketing agrochemical formulations. Here is a quick word about its specific products. Crop Life Science Ltd manufactures agricultural chemicals like micro fertilizers and pesticides which includes Insecticides, fungicides, herbicides, and weedicides. It has a manufacturing plant that is located at the GIDC (Gujarat Industrial Development Corporation) Ankleshwar in the state of Gujarat. The facility spans a total area of 5,831 SQM. Crop Life Science Ltd exports its manufactured products to other countries like Indonesia, Bangladesh, Egypt, Myanmar, Vietnam, and Sudan among others. Its product portfolio comprises more than 85 agrochemical products.

Apart from its main business, Crop Life Sciences also has two group companies. CLSL Pack Science Private Ltd into the manufacturing of induction sealing wads and other flexible packaging products. It has just about started generating revenues in FY22 and it is still making losses on a net basis. The other group company of Crop Life Sciences Ltd is Hetban Spechen Ltd. It has a modern and multipurpose plant to manufacture various technical grades of insecticides, fungicides, herbicides, and PGR and is located at Dahej in Gujarat. This group company still does not have any revenues of its own as its factory has been leased to Crop Life Sciences Ltd.

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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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