Rajgor Castor Derivatives IPO Allotment Status
Quick take on Rajgor Castor Derivatives IPO
The IPO of Rajgor Castor Derivatives Ltd opened for subscription on 17th October 2023 and closed for subscription on 20th October 2023. The face value of the stock is ₹10 per share and it is a book building issue. The price band for the book built issue has been fixed in the range of ₹47 to ₹50 per share, with actual price discovery to happen post the IPO.
The IPO of Rajgor Castor Derivatives Ltd has a fresh issue component and an offer for sale (OFS) portion. The fresh issue portion of the IPO entails the issue of 88,95,000 shares (88.95 lakh shares), which at the upper IPO price band of ₹50 per share aggregates to a fresh issue size of ₹44.48 crore. As part of the OFS, the promoters will sell a total of 6,66,000 shares (6.66 lakh shares), which at the upper IPO price band of ₹50 per share aggregates to total OFS size of ₹3.33 crore. As a result, the total issue size of Rajgor Castor Derivatives Ltd will entail the issue of 95,61,000 shares (95.61 lakh shares), which at the upper IPO price band of ₹50 per share aggregates to a total issue size of ₹47.81 crore.
The minimum lot size for the IPO investment will be 3,000 shares. Thus, retail investors can invest a minimum of ₹150,000 (3,000 x ₹50 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 ₹300,000. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. The table below captures the break-up of lot sizes for different categories. The IPO of Rajgor Castor Derivatives Ltd has a market maker allocation of 5,01,000 shares with Spread X Securities Ltd being the market maker. They will provide two-way quotes to ensure liquidity on the counter post listing and low basis costs. Beeline Capital Advisors Private Ltd is the IPO lead manager and Link Intime India Private Ltd is the IPO registrar.
Rajgor Castor Derivatives IPO Allotment Date
The basis of allotment will be finalized on 26th October 2023 and the refunds will be initiated on 27th October 2023. In addition, the demat credits are expected to happen on 30th October 2023 and the stock is scheduled to list on 31st October 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 78.01% and post the IPO, the promoter stake in Rajgor Castor Derivatives Ltd will stand diluted to 57.40%.
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.
Check Allotment Status of Rajgor Castor Derivatives IPO
Registrar to the IPO - Link Intime India 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 Link Intime India Private Ltd by clicking on the Public Issues link displayed prominently on the home page. Any of these 3 approaches will eventually take you to the same landing page.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Rajgor Castor Derivatives Ltd from the drop-down box. In the case of Rajgor Castor Derivatives Ltd, data access will be allowed late on 26th October 2023 or by middle of 27th October 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 Rajgor Castor Derivatives 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 even for reconciliation with the demat account status when shares are credited to your demat account on 30th October 2023.
But what exactly determines the success or otherwise of you getting allotment? It is the allocation quota and the subscription levels.
Rajgor Castor Derivatives 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|
|Anchor Investor Shares Offered||27,12,000 Shares (28.73%)|
|Market Maker Shares Offered||5,01,000 Shares (5.31%)|
|QIB Shares Offered||17,22,000 Shares (18.24%)|
|NII (HNI) Shares Offered||13,62,000 Shares (14.43%)|
|Retail Shares Offered||31,42,000 Shares (33.29%)|
|Total Shares Offered||94,39,000 Shares (100.00%)|
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)
|HNI / NIIs||260.01||13,62,000||35,41,29,000||1,770.65|
|Total Applications:||84,517 (80.65 times)|
The response to the IPO of Rajgor Castor Derivatives Ltd was very strong and it was subscribed 107.43X overall at the close of bidding on 20th October 2023. The HNI / NII portion was subscribed 260.01 times while the retail portion was subscribed 80.70 times. This is very robust subscription and gives a relatively lower chance of allotment in the IPO. The same can be checked using the allotment checking modus operandi explained above, once the allotment status is finalized.
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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