EMS IPO : How to check the Allotment Status

Highlights of the EMS Ltd IPO

The ₹321.24 crore IPO of EMS Ltd, consists of a fresh issue of ₹146.24 crore and an offer for sale ₹175 crore by the existing shareholders, which includes the promoters and the early investors in the company. The IPO just closed for subscription on Tuesday, 12th September 2023 and at the close of the third day, the issue was subscribed 75.28 times overall. The basis of allotment will be finalized on 15th September 2023 while the refunds to non-allottees will be initiated on the 18th September 2023. The company expects to complete the demat credits to the allottees as of 20th September 2023, while the company plans to list its IPO on the BSE and the NSE on 21st September 2023.

Allotment status online is an internet facility that is provided by the BSE (formerly Bombay Stock Exchange) and by the registrars on their website. Many of the brokers also provide direct connectivity to the database. However, in the absence of any connectivity, one option you always have to use one of these options. That means; you can either check your allotment status on the BSE website or the IPO registrar, KFIN Technologies Limited (formerly Karvy Computershare). Here are the steps.

Checking the allotment status of EMS Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below.

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option
• Under Issue Name – Select EMS Ltd from the drop down box
• Enter the Application Number exactly as in the acknowledge slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verity that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters. There is one more point to note. Even if the company appears in the dropdown, the allotment status will only be available for you to check after the basis of allotment is finalized.

To complete your checking process, once you click on the SUBMIT button, the allotment status will be displayed on the screen in front of you informing about the number of shares of EMS Ltd allotted into your demat account. You can save a screenshot for future reference and for reconciling with the demat credit on 20th September 2023.

Checking the allotment status of EMS Ltd on KFIN Technologies Ltd (Registrar to IPO)

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:

https://ris.kfintech.com/ipostatus/

Here you are given the choice to select 5 servers viz. Link 1, Link 2, Link 3, Link 4, and Link 5. 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 5 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 will still be the same.

A small thing to remember here. Unlike on the BSE website, where the names of all IPOs are there on the drop-down menu, the registrar will only provide list of the IPOs managed by them and where the allotment status is already finalized. Also, for simplicity, you can either choose to see all IPOs or just recent IPOs. Choose the latter, as that reduces the length of the list of IPOs you need to search through. Once you click on Recent IPOs, the dropdown will only show the recent active IPOs, so once the allotment status is finalized, you can select EMS Ltd from the drop-down box.

There are 3 options. You can either query the allotment status based on PAN, Application Number or Demat Account (DPID-Client ID combination).

1. To Query by PAN, check the appropriate box and follow these steps.

• Enter the 10-digit PAN number
• Enter the 6-digit Captcha Code
• Click on Submit button
• Allotment status gets displayed on screen

2. To Query by Application Number, check the appropriate box and follow these steps.

• Enter the Application Number as it is
• Enter the 6-digit Captcha Code
• Click on Submit button
• Allotment Status gets displayed on screen

In the past, the first step was to select Application Type (ASBA or Non-ASBA) before inputting your application number. Now, that step has been done away with.

3. To Query by Demat Account, check the appropriate box and follow these steps.

• Select the depository (NSDL / CDSL)
• Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
• Enter the Client-ID
• In the case of NSDL, the Demat account is 2 strings
• In the case of CDSL, the Demat account is just 1 string
• Enter the 6-digit Captcha Code
• Click on Submit button
• Allotment Status gets displayed on screen

It is always advisable to retain a saved screenshot of the allotment status output for future reference. The same can be tallied with the demat account credit subsequently.

What determines the chances of allotment in the IPO?

Broadly, there are 2 factors that determine the chances of an investor in getting an IPO. The first is the number of shares available under each of the categories, depending on which category you choose to invest in. The table below captures the quota for each of the categories as decided by the company in consultation with the BRLMs.

In the above table, the anchor portion allotment is already completed a day ahead of the IPO. The subscription for each category is only for the residual amount. We now move to the second item that influences allotment and that is the subscription ratio. Here is what the percentage subscription for each category looks like.

Data Source: BSE

As can be seen, greater the oversubscription, lower the chances of allotment. However, one thing to note is that SEBI rules for retail allocation are designed in such a way that maximum investors get at least the minimum 1 lot allotment. So, applying in the names of all your family members can improve your chances of allotment.
Brief on the business model of EMS Ltd.

EMS Ltd was incorporated in 2012. The changed its name from EMS Infracon to EMS Ltd to reflect the focused business model that is predicated around waste water and sewage treatment. It is engaged in the business of providing water and wastewater collection, treatment, and disposal services. EMS Ltd offers Sewerage solutions, Water Supply Systems, Water and Waste Treatment Plants. In addition, EMS Ltd also provides Electrical Transmission and Distribution, Road, and Allied works. Apart from its basic operations, it also earns revenues from the operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs). It also operates pumping stations and engages in the laying of pipelines for the supply of water.

EMS Ltd has its own civil construction team with a team of 57 well-qualified and skilled engineers, supported by third-party consultants and industry experts. EMS Ltd currently operates and maintains about 13 projects including WWSPs, WSSPs, STPs & HAM. The company also has its own team for civil construction works, thereby reducing dependence on third parties and offering one-stop solutions. The scope of EMS Ltd services includes the design and engineering of the projects, procurement of raw materials, and execution at the site, with overall project management up to the commissioning of projects. The issue will be lead managed by Khambatta Securities Ltd. KFIN Technologies Ltd (formerly Karvy Computershare Ltd) will be the registrar to the issue.