ROX Hi-Tech IPO Allotment Status
Understand the basics of the ROX Hi-Tech Ltd IPO
The IPO of ROX Hi-Tech Ltd opened for subscription on 07th November 2023 and closed for subscription on 09th November 2023. The company stock has a face value of ₹10 per share and it is a book building issue. The issue price for the fresh issue IPO has been fixed in the price band of ₹80 to ₹83 per share. Being a book built issue, the final price will be discovered via book building process. The IPO of ROX Hi-Tech Ltd has a fresh issue component as well as an offer for sale (OFS) portion. As part of the fresh issue portion of the IPO, ROX Hi-Tech Ltd will issue a total of 60,17,600 shares (60.18 lakh shares approximately), which at the upper IPO band price of ₹83 per share aggregates to a fresh issue of ₹49.95 crore. The offer for sale (OFS) portion entails the sale of 5,47,200 shares (5.47 lakh shares approximately), which at the upper IPO band price of ₹83 per share aggregates to OFS size of ₹4.54 crore. The OFS is being offered by the promoter shareholders. Consequently, the overall IPO of ROX Hi-Tech Ltd will entail the issue and sale of a total of 65,64,800 shares (65.65 lakh shares approximately), which at the upper IPO band price of ₹83 per share aggregates to an overall IPO size of ₹54.49 crore.
The minimum lot size for the IPO investment will be 1,600 shares. Thus, retail investors can invest a minimum of ₹132,800 (1,600 x ₹83 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 ₹265,600. 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 a market maker portion allocation of 8,48,000 shares. The market maker for the issue is Share India Securities and they will provide two-way quotes to ensure liquidity on the counter and low basis costs post listing. Post the IPO, the promoter stake in the company will get diluted from the current 83.29% to 58.95%. ROX Hi-Tech will use the proceeds of the fresh issue for capex and for setting up network operations centres and a medical automation centre in Chennai, as well as global software delivery centre in Noida. Swaraj Shares and Securities Private Ltd will be the lead manager to the issue, and Purva Share Registry India Private Ltd will be the registrar.
Checking allotment status of ROX Hi-Tech 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.
Checking the allotment status of ROX Hi-Tech Ltd on the website of Purva Share Registry India Private Ltd (Registrar to IPO)
Visit the Purva Share Registry India Private Ltd registrar website for IPO status by clicking on the link below:
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 15th November 2023. You can then select the stock of ROX Hi-Tech 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 ROX Hi-Tech Ltd from the drop down box. The allotment status will be finalized on 15th November 2023, so in this case, you can access the details on the registrar website either late on 15th November 2023 or by middle of 16th November 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO.
• 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 ROX Hi-Tech 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 17th 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 ROX Hi-Tech Ltd.
|Investor Category||Shares Offered|
|Market Maker Shares||8,48,000 shares (12.91% of total issue size)|
|Anchor Allocation||15,80,800 shares (24.06% of total issue size)|
|QIB shares Offered||10,51,200 shares (16.00% of total issue size)|
|NII (HNI) Shares Offered||8,96,000 shares (13.64% of total issue size)|
|Retail Shares Offered||21,93,600 shares (33.39% of total issue size)|
|Total Shares Offered||65,69,600 shares (100.00% of total issue size)|
The response to the IPO of ROX Hi-Tech Ltd was very strong and it was subscribed 214.44X overall at the close of bidding on 09th November 2023. The HNI / NII segment saw robust subscription of 366.86X, while the retail portion saw strong subscription of 204.02X. Even the QIB investors saw subscription of 106.25X. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 09th 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||366.86||8,96,000||32,87,05,600||2,728.26|
|Total Applications :||279,711 (204.02 times)|
The probability of allotment is inversely related to the extent of subscription. In the above case, since the retail and the HNI portion have got substantially oversubscribed, the chances of allotment are quite low. The basis of allotment will be finalized on 15th November2023, the refunds will be initiated on 16th November2023, demat credits will be finalized on 17th November2023, while the stock of ROX Hi-Tech Ltd will get listed on the NSE SME segment on 20th November2023. This is the segment on the NSE, where start-ups and smaller companies are incubated.
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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