Inspire Films IPO : How to check the Allotment Status
The IPO of Inspire Films Ltd opened for subscription on 25th September 2023 and closed for subscription on 27th September 2023 (both days inclusive). The ₹21.23 crore IPO of Inspire Films Ltd comprises entirely of a fresh issue with no offer for sale (OFS) component. The Fresh Issue portion of Inspire Films Ltd entails the issue of 35.98 lakh shares at which at the upper band of the price range at ₹59 per share aggregates to ₹21.23 crore. The stock has a face value of ₹10 and the price band for the IPO is between ₹54 and ₹59 per share. Retail bidders can bid in minimum lot size of 2,000 share each. Thus, the minimum investment of ₹118,000 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO.
HNIs / NIIs can invest in a minimum of 2 lots of 4,000 shares worth ₹236,000 as the bare minimum investment. There is no upper limit for the HNI / NII category or even for the QIB category. Inspire Films Ltd will deploy the funds for working capital needs and for general corporate purposes. Post the IPO, the promoter equity in the company will get diluted from 93.98% to 69.17%. The issue is lead managed by Narnolia Financial Services Ltd, while Maashitla Securities Private Ltd will be the registrars to the issue.
Checking allotment status of Inspire Films 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 Inspire Films Ltd on the website of Maashitla Securities Private Ltd (Registrar to IPO)
Visit the Maashitla Securities Private Limited (IPO registrar to Inspire Films 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 Inspire Films Ltd. At that point, you can go and select the company (Inspire Films Ltd) from the drop down box. The allotment status will be finalized on 03rd October 2023, so in this case, you can access the details on the registrar website either late on 03rd October 2023 or by middle of 04th October 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of Inspire Films 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 Inspire Films 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 05th 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
|Anchor Investor Shares Offered||10,22,000 shares (28.42%)|
|Market Maker Shares Offered||1,80,000 shares (5.01%)|
|QIB Shares Offered||6,82,000 shares (18.97%)|
|NII (HNI) Shares Offered||5,14,000 shares (14.29%)|
|Retail Shares Offered||11,98,000 shares (33.31%)|
|Total Shares Offered||35,96,000 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 Inspire Films Ltd was very strong and it was subscribed 129.08X overall at the close of bidding on 27th September 2023 with the retail segment seeing 180.41 times subscription and the non-retail HNI / NII portion seeing 147.16 times subscription. The QIB portion was also subscribed by 25.27 time, albeit relatively modest. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 27th September 2023.
|Category||Subscription (times)||Shares Offered||Shares Bid for||Total Amount (₹ Cr.)|
|HNI / NII||147.16||514,000||7,56,40,000||446.28|
The basis of allotment will be finalized on 03rd October 2023, the refunds will be initiated on 04th October 2023, demat credits will be finalized on 05th October 2023, while the stock of Inspire Films Ltd will get listed on the NSE SME segment on 06th 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.
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