Maitreya Medicare IPO Allotment Status
Quick take on Maitreya Medicare IPO
The IPO of Maitreya Medicare Ltd opened for subscription on 27th October 2023 and closed for subscription on 01st November 2023. The company has a face value of ₹10 per share and it is a book built issue with the book building price band in the range of ₹78 to ₹82 per share. The IPO of Maitreya Medicare Ltd has only a fresh issue component with no offer for sale (OFS) portion. As part of the fresh portion of the IPO, Maitreya Medicare Ltd will issue a total of 18,16,000 shares (18.16 lakhs approximately), which at the upper band IPO price of ₹82 per share aggregates to a total fresh fund raising of ₹14.89 crore. Since there is no offer for sale portion, the size of the fresh issue will also be the total size of the IPO. Hence the total IPO size will also comprise of 18,16,000 shares, which at the upper IPO price band of ₹82 per share will aggregate to ₹14.89 crore.
The minimum lot size for the IPO investment will be 1,600 shares. Thus, retail investors can invest a minimum of ₹131,200 (1,600 x ₹82 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 ₹262,400. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. The IPO will have a market maker portion allocation of 1,08,800 shares. The market maker for the issue is Giriraj Stock Broking Private Ltd and they will provide two-way quotes to ensure liquidity and low basis costs on the counter post-listing. GYR Capital Advisors Private Ltd will be the lead manager to the issue and Link Intime India Private Ltd will be the registrar.
Maitreya Medicare Ltd IPO Allotment Date
The basis of allotment will be finalized on 06th November 2023 and the refunds will be initiated on 07th November 2023. In addition, the demat credits are expected to happen on 08th November 2023 and the stock is scheduled to list on 09th November 2023 on the NSE SME segment. This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated. The company had a pre-IPO promoter holding of 100.00% and post the IPO, the promoter stake in Maitreya Medicare Ltd will stand diluted to 73.20%.
Let us now turn to the million dollar question; How to check the allotment status? Since this is an NSE SME IPO, there is no facility to check on the exchange website since NSE does not offer that facility. On the other hand, the BSE only offers allotment status for mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Link Intime India Private Limited. Here are the steps that you need to follow to check allotment status.
IRM Energy Ltd IPO Registrars
Registrar to IPO: Link Intime India Private Limited
Check the Allotment Status of Maitreya Medicare Ltd
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 Link Intime India Private Ltd by clicking on the Public Issues link displayed prominently on the home page. It all works the same.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Maitreya Medicare Ltd from the drop-down box. In the case of Maitreya Medicare Ltd, data access will be allowed late on 06th November 2023 or by middle of 07th November 2023.
There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
- If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
- The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
- The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
- The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application.
Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
Finally, click on the Search button. You can get the exact allotment status on the number of shares allotted to you. The IPO status with number of shares of Maitreya Medicare Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records and later ever for reconciliation with the demat account status when shares are credited to your demat account on 08th November 2023.
But what exactly determines the success or otherwise of you getting allotment? It is the allocation quota and the subscription levels
Maitreya Medicare IPO Subscription Status
The table below captures the quota allocated to various categories, in terms of the number of shares and also the percentage of the total share capital raised. For investors it is the quota for the retail and the HNI that really matters.
|Investor Category||Shares Offered|
|Market Maker Shares||1,08,800 shares (5.99% of total issue size)|
|Anchor Shares Allotted||4,94,400 shares (27.22% of total issue size)|
|QIB Shares Offered||3,29,600 shares (18.15% of total issue size)|
|NII (HNI) Shares Offered||2,72,000 shares (14.98% of total issue size)|
|Retail Shares Offered||6,11,200 shares (33.66% of total issue size)|
|Total Shares Offered||18,16,000 shares (100.00% of total issue size)|
The next thing to look at is the extent of subscription. The table below captures the extent of oversubscription for each of the categories as well as the overall subscription.
(₹ in crore)
|HNIs / NIIs||744.03||2,72,000||20,23,76,000||1,659.48|
The response to the IPO of Maitreya Medicare Ltd was very robust and it was subscribed 446.79X overall at the close of bidding on 01st November 2023. The HNI / NII portion was subscribed 744.039 times while the retail portion was subscribed 509.40 times. This is very high subscription and gives a very low chance of allotment in the IPO. The same can be checked using the allotment checking modus operandi explained above.
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.
"India, a land of opportunities, boasts one of the world's most popular stock markets. Within its dynamic landscape, the stock market presents significant potential for wealth accumulation for those who navigate it skilfully. Yet, it's essential to acknowledge the inherent risks; only a select group of accomplished traders consistently achieve profits.
- Dec 04, 2023Read More
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