Micropro Software Solutions IPO Allotment Status
Understand the basics of the Micropro Software Solutions Ltd IPO
The IPO of Micropro Software Solutions Ltd opened for subscription on 03rd November 2023 and closed for subscription on 07th November 2023. The stock of Micropro Software Solutions Ltd had a face value of ₹10 per share and it is a fixed price issue with the IPO price already set at ₹81 per share. The IPO of Micropro Software Solutions Ltd has only a fresh issue component with no book built portion. As part of the fresh portion of the IPO, Micropro Software Solutions Ltd will issue a total of 37,90,400 shares (37.90 lakh shares approximately), which at the fixed IPO price of ₹81 per share aggregates to a total fund raising of ₹30.70 crore. Since there is no offer for sale portion, the total size of the issue will also be the total size of the IPO. Hence the total IPO size will also comprise of 37,90,400 shares, which at the fixed IPO price of ₹81 per share aggregates to an overall issue size of ₹30.70 crore.
The minimum lot size for the IPO investment will be 1,600 shares. Thus, retail investors can invest a minimum of ₹129,600 (1,600 x ₹81 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 ₹259,200. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. Like every SME IPO, this issue also has a market making portion with inventory allocation of 1,90,400 shares. The market maker for the issue is Nikunj Stock Brokers Ltd; with a mandate to provide two-way quotes to ensure liquidity on the counter and low basis costs, post listing. Post the IPO, the promoter stake will get diluted from 63.40% to 45.17%. The fresh issue funds will be used to fund some of its capex plans and for working capital gaps. Swaraj Shares & Securities Private Ltd will be the lead manager to the issue, and Purva Share Registry India Private Ltd will be the registrar to the issue.
Checking allotment status of Micropro Software Solutions 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 check your allotment status only on the website of the IPO registrar, Purva Share Registry India Private Ltd. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status.
Registrar to IPO: Purva Share Registry India Private 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 is also a way to access this page via the home page of Purva Share Registry Private Ltd by clicking on the Investor services dropdown on the home page and then clicking on the IPO Query link displayed prominently underneath it. It all works the same.
Here, as soon as you click on the link, you are brought to the main landing page. On the top of the page will be the option to select the company for which you want to check the allotment status. Here the company will be available on the drop down list only after the allotment status is finalized on 10th November 2023. You can then select the stock of Micropro Software Solutions Ltd IPO from the drop down list to check the allotment status.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Micropro Software Solutions Ltd from the drop down box. The allotment status will be finalized on 10th November 2023, so in this case, you can access the details on the registrar website either late on 10th November 2023 or by middle of 11th November 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO.
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 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.
• Secondly, 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 Micropro Software Solutions 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 15th November 2023.
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 in the IPO of Micropro Software Solutions Ltd.
|Investor Category||Shares Offered|
|Market Maker Shares||1,90,400 shares (5.02% of total issue size)|
|Anchor Allocation||Nil anchor allocation made|
|QIB shares Offered||Nil QIB quota available in the SME IPO|
|NII (HNI) Shares Offered||18,00,000 shares (47.49% of total issue size)|
|Retail Shares Offered||18,00,000 shares (47.49% of total issue size)|
|Total Shares Offered||37,90,400 shares (100.00% of total issue size)|
The response to the IPO of Micropro Software Solutions Ltd was moderately robust and it was subscribed 36.88X overall at the close of bidding on 07th November 2023 with the retail segment seeing 49.08 times subscription and the non-retail or HNI / NII portion seeing 22.60 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 07th November 2023. Normally, higher the subscription levels, the lower are the chances of allotment; so you can look at the subscription levels below and take a call on the chances of allotment in the IPO.
(₹ in crore)
|HNIs / NIIs||22.60||18,00,000||4,06,83,200||329.53|
The basis of allotment will be finalized on 10th November2023, the refunds will be initiated on 13th November2023, demat credits will be finalized on 15th November2023, while the stock of Micropro Software Solutions Ltd will get listed on the NSE SME segment on 16th November2023. This is the segment on the NSE, where start-ups and smaller companies are incubated.
Frequently Asked Questions
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