E Factor Experiences IPO: How to check the Allotment Status
The IPO of E Factor Experiences Ltd opened for subscription on 27th September 2023 and closed for subscription on 03rd October 2023; both days inclusive. The company has a face value of ₹10 per share. It is a Book Built issue, with the price band for the IPO set in the range of ₹71 to ₹75 per share. The IPO of E Factor Experiences Ltd has only a fresh issue component and no offer for sale (OFS) component in the IPO. As part of the fresh issue portion of the IPO, E Factor Experiences Ltd will issue a total of 34,56,000 shares (34.56 lakh shares). At the upper band of the IPO price of ₹75 per share, the total value of the fresh issue portion aggregates to ₹25.92 crore. Since there is no offer for sale portion, the fresh issue will also be the total size of the issue. Therefore, the total issue size of E Factor Experiences Ltd will also entail the issue of 34,56,000 shares (34.56 lakh shares). At the upper band of the IPO price of ₹75 per share, the total IPO size of E Factor Experiences Ltd will be₹25.92 crore.
The minimum lot size for the IPO investment will be 1,600 shares. Thus, retail investors can invest a minimum of ₹120,000 (1,600 x ₹75 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 3,200 shares and having a minimum lot value of ₹240,000. There is no upper limit on what the QIBs and the HNI / NII investors can apply for. The fresh issue funds will be used for investing in its subsidiaries, repayment of certain borrowings and for working capital needs. The promoter holding stands at 99.99%, which will get diluted to 73.59% post the IPO. While Hem Securities Ltd will be the lead manager to the issue, Maashitla Securities Private Ltd will be the registrar to the issue. The market maker for the issue will be Hem Finlease Ltd.
Checking allotment status of E Factor Experiences Ltd IPO
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 directly on the website of the IPO registrar, Maashitla Securities Private Limited. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of E Factor Experiences Ltd on the website of Maashitla Securities Private Ltd (Registrar to IPO)
Visit the Maashitla Securities Private Limited (IPO registrar to E Factor Experiences Ltd) website for IPO status by clicking on the link below:
If you are not able to click on the link above, you can directly cut the above link and paste it on your browser. That will also work. When you click on the above link, the landing page will offer you a one stop page for selecting the company and for selecting the mode of access.
This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for E Factor Experiences Ltd. At that point, you can go and select the company (E Factor Experiences Ltd) from the drop down box. The allotment status will be finalized on 06th October 2023, so in this case, you can access the details on the registrar website either late on 06th October 2023 or by middle of 07th October 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of E Factor Experiences Ltd.
- Firstly, you can query for the application status based on your mapped 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 first 5 characters ad alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. 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 Submit Button.
- Secondly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP id and customer id as it is. 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 Submit Button in both cases.
You can follow any of the options above. The IPO status with number of shares of E Factor Experiences 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 10th October 2023 or after that. It must be noted here that, in the past, Maashitla Securities Private Ltd (the registrar to the issue) was also offering the facility to query on allotment status based on application number / CAF number. That has now been discontinued and applicants in the IPO can now only query by either the Income Tax PAN number or the demat account number. The query facility by application number / CAF number is no longer available.
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.
|Investor Category||Shares Offered|
|Anchor Investor Shares Offered||9,84,000 shares (28.47%)|
|Market Maker Shares Offered||1,74,400 shares (5.05%)|
|QIB Shares Offered||6,56,000 shares (18.98%)|
|NII (HNI) Shares Offered||4,92,800 shares (14.26%)|
|Retail Shares Offered||11,48,800 shares (33.24%)|
|Total Shares Offered||34,56,000 shares (100.00%)|
You can check the number of shares available for your specified quota which gives an idea of the chances of allotment at the outset itself. The response to the IPO of E Factor Experiences Ltd was very strong and it was subscribed 73.14X overall at the close of bidding on 03rd October 2023 with the HNI / NII segment seeing 168.26 times subscription and the Retail portion seeing 47.78 times subscription. The QIB portion was also subscribed by 46.09 times by the close of the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 03rd October 2023.
|HNI / NII||168.26||4,92,800||8,29,16,800||621.88|
The basis of allotment will be finalized on 06th October 2023, the refunds will be initiated on 09th October 2023, demat credits will be finalized on 10th October 2023, while the stock of E Factor Experiences Ltd will get listed on the NSE SME segment on 11th October 2023. The NSE SME segment is the place where the start-ups and young companies get listed, as opposed to the regular mainboard segment.
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.
Copper prices saw a modest 0.33% gain, reaching 722 on Thursday, as worries about a slowdown in Chinese manufacturing loomed large. The November's NBS Manufacturing PMI slipped to 49.4, the second consecutive monthly decline, heightened concerns, emphasizing the need for additional government support to fortify China's economic growth. The NBS Non-Manufacturing PMI at 50.2, reflecting the 11th month of service sector expansion, hinted at a softer pace.
- Dec 01, 2023Read More
Our markets started the truncated week on a positive note and it rallied higher throughout the week. The first day of the December month infact witnessed a new record as the Nifty surpassed its previous high and ended in uncharted territory above 20250 with weekly gains of almost two and a half percent.
- Dec 01, 2023Read More