Digikore Studios Ltd IPO : How to check the Allotment Status
Quick take on the IPO of Digikore Studios Ltd
The IPO of Digikore Studios Ltd opened for subscription on 25th September 2023 and closed on 27th September 2023. The face value of the stock is ₹10 per share. This was a book building issue, with the IPO price band fixed in the range of ₹ 168 to ₹171 per share. It was a combination of fresh issue and offer for sale (OFS). The fresh issue portion of Digikore Studios Ltd entailed the issue of 12,60,800 shares (12.61 lakh shares approximately), which at the upper band of the IPO price band of ₹171 per share was worth ₹21.56 crore. The OFS involved the sale of 5,21,600 shares (5.22 lakh shares approximately), worth ₹8.92 crore. Hence, the total issue size of Digikore Studios Ltd will entail the issue and sale of 17,82,400 shares (17.82 lakh shares approximately), which at the upper IPO price band of ₹171 per share aggregates to a total fund raising of ₹30.48 crore.
The minimum lot size for the IPO investment will be 800 shares. Thus, retail investors can invest a minimum of ₹136,800 (800 x ₹171 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 1,600 shares and having a minimum lot value of ₹273,600. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. The issue is lead managed by Sarthi Capital Advisors Private Ltd and the registrar to the issue is Bigshare Services Private Ltd.
Checking the allotment status of Digikore Studios Ltd
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 on the website of the IPO registrar, Bigshare Services Private Limited; or you can use the broker link provided, in case your broker is giving such a direct linkage. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of Digikore Studios Ltd on the website of Bigshare Services Private Limited (Registrar to IPO)
Visit the Bigshare Services registrar website for IPO status by clicking on the link below:
Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 3 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select; the output would still be the same across.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Digikore Studios Ltd from the dropdown box. The allotment status will be finalized on 29th September 2023, so in this case, you can access the details on the registrar website either late on 29th September 2023 or by middle of 30th September 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO.
- Firstly, you can access the allotment status using 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 search by Beneficiary ID of your demat account. From the dropdown box, you must first select the depository name where your demat account is held i.e., NSDL or CDSL. In the case of NSDL, enter the DP id and Client id in separate boxes as provided. 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 both cases.
- 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 Digikore Studios 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 03rd October 2023.
Quota allocation and subscriptions: why they matter to allotment status
Here is a break-up of the total shares issued by the company and its quota allocated for different groups of investors. This is the key to your chances of allotment in the IPO.
|Anchor Investor Shares Offered||4,80,800 shares (26.97%)|
|Market Maker Shares Offered||1,78,400 shares (10.01%)|
|QIB Shares Offered||3,20,800 shares (18.00%)|
|NII (HNI) Shares Offered||2,40,800 shares (13.51%)|
|Retail Shares Offered||5,61,600 shares (31.51%)|
|Total Shares Offered||17,82,400 shares (100.00%)|
The response to the IPO of Digikore Studios Ltd was modest to strong and it was subscribed overall by 281.58X overall at the close of bidding on 27th September 2023 with the retail segment seeing 370.17 times subscription, the QIB portion seeing 65.63 times subscription and the HNI / NII portion seeing the best 362.65 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 27th September 2023.
|HNIs / NIIs||362.65||240,800||8,73,27,200||1,493.30|
The basis of allotment will be finalized on 29th September 2023, the refunds will be initiated on 03rd October 2023, demat credits will be finalized on 03rd October 2023, while the stock of Digikore Studios Ltd will get listed on the NSE-SME segment on 04th October 2023. The level of subscription determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa.
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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