KK Shah Hospitals IPO Allotment Status
Quick take on the IPO of KK Shah Hospitals Ltd
The IPO issue of KK Shah Hospitals Ltd opened for subscription on 27th October 2023 and closed for subscription on 31st October 2023. The stock of KK Shah Hospitals Ltd has a face value of ₹10 per share and it is a fixed price issue. The price for the IPO has been fixed at ₹45 per share. The IPO of KK Shah Hospitals Ltd has only a fresh issue component with no book built portion. It must be remembered that the fresh issue portion is EPS dilutive and equity dilutive, but OFS is just a transfer of ownership and hence it is not EPS or equity dilutive. As part of the fresh portion of the IPO, KK Shah Hospitals Ltd will issue 19,50,000 shares (19.50 lakhs), which at the fixed IPO price of ₹45 per share aggregates to a total fresh fund raising of ₹8.78 crore. As there is no offer for sale portion in this IPO, the size of the fresh issue will also be the total size of the IPO. Hence the overall IPO size will also comprise of 19.50 lakh shares, which at the fixed IPO price of ₹45 per share will aggregate to ₹8.78 crore.
How to apply for the IPO of KK Shah Hospitals Ltd
The minimum lot size for the IPO investment will be 3,000 shares. Thus, retail investors can invest a minimum of ₹135,000 (3,000 x ₹45 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 6,000 shares and having a minimum lot value of ₹270,000. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. Like every SME IPO, the IPO of KK Shah Hospitals Ltd also has a market making allocation with a market making inventory of 1,02,000 shares. The market maker for the issue is Rikhav Securities Ltd and they will provide two-way quotes to ensure liquidity on the counter post listing and low basis costs. Post the IPO, the promoter stake in the company will get diluted from 100.00% to 71.36%. KK Shah Hospitals Ltd will use fresh IPO funds to purchase medical equipment and for general corporate purposes. Fedex Securities Private Ltd and Shreni Shares Private Ltd will be the joint lead managers to the issue and Bigshare Services Private Ltd will be the registrar to the issue. Rikhav Securities Ltd is the market maker to the issue.
Check the Allotment Status of KK Shah Hospitals 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 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 on the registrar website.
KK Shah Hospitals IPO Registrars
Registrar to IPO: Bigshare Services Private Limited
There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Bigshare Services Private Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.
Once you enter the IPO allotment check landing page of Bigshare Services Private Ltd, you are given the choice to select from 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.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select KK Shah Hospitals Ltd from the dropdown box. The basis of allotment will be finalized on 03rd November 2023, so in this case, you can access the details on the registrar website either late on 03rd November 2023 or by middle of 04th November 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 KK Shah Hospitals 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 07th November 2023, or later.
KK Shah Hospitals IPO Subscription Status
Here is a break-up of the total shares issued by the company and its quota allocated for different classes of investors. This is the key to your chances of allotment in the IPO.
|Investor Category||Shares Allocated in IPO|
|Anchor Allocation Shares||Nil Allocation of shares|
|Market Maker Shares||1,02,000 shares (5.230% of total issue size)|
|NII (HNI) Shares Offered||9,24,000 shares (47.385% of total issue size)|
|Retail Shares Offered||9,24,000 shares (47.385% of total issue size)|
|Total Shares Offered||19,50,000 shares (100.00% of total issue size)|
The response to the IPO of KK Shah Hospitals Ltd was moderate to strong and it was subscribed overall by 13.58X overall at the close of bidding on 31st October 2023 with the retail segment seeing 9.41 times subscription, the HNI / NII portion seeing 17.75 times subscription. There was no QIB quota offered in the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 31st October 2023.
(₹ in crore)
|HNIs / NIIs||17.75||9,24,000||1,64,04,000||73.82|
|Total Applications:||3,162 (10.27 times)|
The basis of allotment will be finalized on 03rd November 2023, the refunds will be initiated on 06th November 2023, demat credits will be finalized on 07th November 2023, while the stock of KK Shah Hospitals Ltd will get listed on the NSE-SME segment on 08th November 2023. The NSE SME segment is where the smaller companies get listed, in contrast to the mainboard IPO segment.
The level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been fairly low to modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check.
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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