Jiwanram Sheoduttrai Industries IPO : How to check the Allotment Status
The ₹17.07 crore IPO of Jiwanram Sheoduttrai Industries Ltd consists entirely of a fresh issue of shares with no offer for sale (OFS) component in the IPO. The company has issued a total of 74,22,000 shares (74.22 lakh shares) at a fixed price of ₹23 per share resulting in total IPO size of ₹17.07 crore. The issue is split into retail and HNI portion with a small allocation for the market maker to the IPO. The break-down of the reservation for different categories of investors is as under.
|Anchor Investor Shares Offered||NIL|
|Market Maker Shares Offered||3,72,000 shares (5.01%)|
|Other Shares Offered||35,22,000 shares (47.45%)|
|Retail Shares Offered||35,28,000 shares (47.53%)|
|Total Shares Offered||74,22,000 shares (100%)|
Let us turn first to when you can check the allotment status of the shares online.
When can you check allotment status online?
The basis of allotment will be finalized on Friday, 15th September 2023, the refunds will be initiated on 18th September 2023, demat credits will be finalized on 20th September 2023, while the stock of Jiwanram Sheoduttrai Industries Ltd will get listed on the NSE SME Emerge segment on 21st September 2023. The company had a pre-IPO promoter holding of 100% and post the IPO, the promoter stake in Jiwanram Sheoduttrai Industries Ltd will stand reduced to 70.01%. On listing, the company will have an indicative P/E ratio of 9.91X, which is reasonable for the sector. The allotment status online will be available either late on 15th September 2023 or by the middle of 16th September 2023.
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 in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the website of the IPO registrar, Cameo Corporate Services Ltd. Here are the steps that you need to follow to check allotment status.
Checking the allotment status of Jiwanram Sheoduttrai Industries Ltd on the website of Cameo Corporate Services Ltd (Registrar to IPO)
Visit the Cameo Corporate Services Ltd registrar website for IPO status by clicking on the link below:
There are three things to remember. Firstly, there also a way to access this page via the home page of Cameo Corporate Services and clicking on the IPO Status link under the Useful Links drop down at the top of the page. Secondly, you can just click on the hyper link given above and directly go to the allotment checking page. The third option, in case you are not able to click on the link, is to copy the link and paste in your web browser.
Once you reach the relevant page as explained above, the first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Jiwanram Sheoduttrai Industries Ltd on the list around 15th September 2023 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to the next screen.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Jiwanram Sheoduttrai Industries Ltd from the dropdown box. The allotment status will be finalized on Friday, 15th September 2023, so in this case, you can access the details on the registrar website either late on 15th September 2023 or by middle of 16th September 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. All the three can be selected from the same screen by opting for the preferred radio button.
- Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. 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 either cases.
- Secondly, 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.
- 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.
- In all the 3 cases above, please note that after inputting the details as relevant, there will be a 6-digit captcha that will appear and you must enter the captcha exactly as it is. It is fully a numeric captcha and it is meant to confirm that it is not a robotic access.
The IPO status with number of shares of Jiwanram Sheoduttrai Industries 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 20th September 2023. Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Jiwanram Sheoduttrai Industries Ltd got.
Subscription response to the IPO of Jiwanram Sheoduttrai Industries Ltd
The response to the IPO of Jiwanram Sheoduttrai Industries Ltd was moderate as the overall issue was subscribed 4.06X at the close of bidding on 01st August 2023 which is below the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 3.85 times subscription and the non-retail HNI / NII portion saw 4.26 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 12th September 2023.
|Investor Category||Subscription (times)||Shares Offered||Shares bid for||Total Amount (₹ Cr.)*|
|HNIs / NIIs||69.75||35,22,000||24,56,76,000||565.05|
The issue has been heavily subscribed; hence your chances of allotment would proportionately reduce.
Quick word on the business profile of Jiwanram Sheoduttrai Industries Ltd.
Jiwanram Sheoduttrai Industries Ltd was incorporated in 1997. It is one of the leading manufacturers of industrial safety gloves and garments. Apart from a large domestic franchise, the company also has major export franchise. Jiwanram Sheoduttrai Industries Ltd has manufacturing units located at Baruipur, Nandankanan and at the Falta SEZ in the state of West Bengal. Its exports are predominantly head-to-toe safety wear and workwear. Its operations are divided into 3 broad verticals. Firstly, it makes industrial leather gloves including Canadian welder gloves, driver gloves and mechanical gloves. These are typically customized to the unique customer needs. Secondly, it makes industrial garments with features like fire retardant, water repellent, high visibility, oil repellent, UV protection, anti-bacterial etc; and are also largely customized. Lastly, Jiwanram Sheoduttrai Industries Ltd also manufactures work and casual wear garments for specific industries like hospitals, hotels, etc on a made-to-order basis. It has international roster of clients spread across the US, Spain, Germany, and Belgium.
Over the years, Jiwanram Sheoduttrai Industries Ltd has stamped a mark of trust on its ability to create value through consistent quality and product innovations. Its distribution scale has deep spread at a domestic and global level. The company is a government recognized Star Export House for the manufacture and export of work and safety wear. The manufacturing operations of the company take care of all the requisite value chain steps in-house. Thus procuring & inspecting the raw materials, segregating the raw materials, manufacturing products based on customer specifications, control & product quality assurance as well as the packaging and distribution of the finished products are done in-house to ensure total control over the timing, inventory timing and quality of the full value chain from procurement of raw materials to delivery of the end product to the customer.
The company has been promoted by Alok Prakash, Anupama Prakash, Gyan Prakash and Alok Prakash HUF. The promoter holding in the company currently stands at 100.00%. However, post the fresh issue of shares promoter equity share will reduce to 70.00%. The fresh issue funds will be used by the company for meeting its working capital funding gaps and for repayment of unsecured loans availed by the company. Part of the funds raised will also go towards general corporate expenses. While Affinity Global Capital Markets Private Ltd will be the lead manager to the issue, Cameo Corporate Services Ltd will be the registrar to the issue. The market maker for the issue is Giriraj Stock Brokers Ltd.
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