Enser Communications Limited IPO Allotment Status

Building blocks of the Enser Communications Limited Ltd IPO

Enser Communications IPO, a fixed price issue of Rs 16.17 crores, comprises entirely of a fresh issue of 23.1 lakh shares. Bidding for Enser Communications IPO commenced on March 15, 2024, and concluded on March 19, 2024. The allotment process was finalized on Wednesday, March 20, 2024. Enser Communications IPO is slated to list on NSE SME with a tentative listing date set for Friday, March 22, 2024.

Enser Communications IPO is priced at ₹70 per share, with a minimum lot size of 2000 shares. Retail investors are required to invest a minimum of ₹140,000, while HNIs must invest in 2 lots, totaling 4,000 shares, amounting to ₹280,000. Enser Communications IPO is consists of 2,310,000 shares, aggregating up to ₹16.17 Cr, all of which are fresh issues. The lot size is fixed at 2000 shares, and the face value is ₹10 per share. Market Maker B.N. Rathi Securities has been allocated 118,000 shares. 

Enser Communications IPO’s running lead manager is Fast Track Finsec Pvt Ltd, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Enser Communications IPO is B.N. Rathi Securities.

Checking allotment status of Enser Communications Ltd IPO

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, Skyline Financial Services 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 on the website of the IPO registrar, Skyline Financial Services Private Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on 20thMarch 2024.

Checking the allotment status on Skyline Financial Services Private Ltd (Registrar to IPO)

Visit the Skyline Financial Services Private Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://www.skylinerta.com/display_application.php?app=329

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 Skyline Financial Services Private Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.
Once you go to the main allotment status page of Skyline Financial Services Private Ltd the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•  To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•  To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Skyline Financial Services Private Ltd offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on 20thMarch 2024, so the investors would be able to access the online allotment status facility, either late on 21th March 2024 or by the middle of 21th March 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on 21th March 2024 or later. It would appear on the demat account with ISIN Number.

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 Enser Communications ltd at the close of the IPO on 19thMarch 2024.

Enser Communications Ltd's IPO subscription status indicates moderate overall demand, with total subscription of 7.28 times shares offered. Non-Institutional Buyers showed decent interest, subscribing 3.64 times offered shares, while Retail Investors demonstrated stronger interest, subscribing 10.91 times offered shares. Market Maker category saw full subscription. Despite total application count of 5,978, subscription rate remained relatively moderate, suggesting mixed.

Here is final subscription status of Enser Communications Ltd IPO as at close on 19th March 2024.

To sum it up, the oversubscription is quite modest, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of Enser Communications Ltd

With the IPO of Enser Communications Ltd closed for subscription at the end of 19thMarch 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 20thMarch 2024 while the refunds would be initiated on 21thMarch 2024. The shares of Enser Communications would be credited to the demat accounts of eligible shareholders by the close of 21th March 2024 while the stock of Enser Communications Ltd is expected to be listed on 22ndMarch 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.