Macobs Technologies IPO Allotment Status

How to check Macobs IPO allotment status   

How to check the allotment status in this case? 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 directly on the website of the IPO registrar, Maashitla Securities Private Limited. Here are the steps that you need to follow to check Macobs IPO allotment status.

Macobs Technologies IPO allotment date - July 22, 2024.

Checking Macobs Technologies IPO allotment status on Maashitla Securities

Visit the Maashitla Securities Private Limited (IPO registrar to Macobs Technologies website for IPO status by clicking on the link below:

https://maashitla.com/allotment-status/public-issues

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment status 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 Maashitla Securities Private Ltd by clicking on the “Allotment Status” link displayed prominently on the home page. It all works the same.

This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for Macobs Technologies. At that point, you can go and select the company Macobs Technologies from the drop down box. The allotment status will be finalized on 22nd July 2024, so in this case, you can access the details on the registrar website either late on 22nd July 2024 or by middle of 23rd July 2024. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO of Macobs Technologies.

• Firstly, you can query for the application status based on your mapped Income Tax PAN number. Once you select PAN (permanent account number) radio button, enter your 10-digit PAN number, which is an alphanumeric code. The first 5 characters are alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. 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 Submit Button.

• Secondly, you can query for the application status based on your Application Number / CAF Number. Once you select Application Number (radio button) from the dropdown menu, enter your application number as it is given in the CAF acknowledgement given to you. Double check to ensure that you are entering the right application number. Once the application number is entered and verified, ensure to click the Submit Button to get the allotment status output.

• Thirdly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP id and customer id as it is. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Submit Button in both cases.

You can follow any of the options above. The IPO status with number of shares of Macobs Technologies 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 23rd July 2024 or after that. These shares would be credited to your demat account under the following details (ISIN - INE0R0J01010). 

It must be noted here that, in the past, Maashitla Securities Private Ltd (the registrar to the issue) had briefly discontinued offering the allotment status based on application number / CAF number. That has now been commenced again and applicants in the IPO can now also query by application number / CAF; apart from the PAN number and the Demat account details. The investor can choose the facility that is most convenient to them.

In case you have any issues with the output or any complaint, you can reach out to Maashitla Securities (registrars to the issue) by email of phone. You can send an email with your complaint details to investor.ipo@maashitla.com or you can also call 011-4512-1795 and explain the issue after appropriately authenticating yourself.
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. This is the first factor that impacts the investor’s chances of allotment in the IPO.

Data Source: Company RHP

The issue size, net of the market maker quota, has been divided between the QIB investors, retail investors and the HNI / NII investors. On July 15, 2024, the company made an anchor allocation of 4,43,200 shares to anchor investors at a price of ₹75 per share. The total size of the anchor allocation was ₹3.32 crore. Out of the total anchor allocation of ₹3.32 crore, 50% of the allocation will have a 1-month lock in up to August 21, 2024 and the balance 50% will have a 3-month lock-in up to October 20, 2024. The anchor portion was carved out of the QIB portion, as a result of which the QIB quota available in the IPO was reduced from 28.49% to 11.41%. The stock will list on the stock exchanges on the third working day after the closure of the IPO. You can check the number of shares available for your specified quota which gives an idea of the chances of allotment at the outset itself. 

Macobs Tech IPO Subscription Update

The response to the IPO of Macobs Technologies was very strong and it was subscribed 202.39X overall at the close of bidding on 19th July 2024 with the Retail segment seeing 176.87 times subscription and the HNI / NII portion seeing 266.85 times subscription. Even the QIB portion saw a robust subscription of 88.92X in the IPO of Macobs Technologies. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 19th July 2024.

Data Source: NSE

The oversubscription numbers are exclusive of the market maker portion, which is intended to provide liquidity with low bid-ask spreads for the investors and it is also exclusive of the anchor allocation portion to give a proper picture of the extent of oversubscription of the public portion of the IPO. The subscription numbers are very strong, which would logically reduce chances of getting an allotment.

About Macobs Technologies IPO 

The stock of the company has a face value of ₹10 per share and it is a book built issue. The book building price band for the IPO has been set in the range of ₹71 to ₹75 per share. The final price discovery will happen in the above price band only. The IPO of Macobs Technologies has only a fresh issue component and no offer for sale (OFS) portion. While the fresh issue portion is EPS dilutive and equity dilutive, the OFS is just a transfer of ownership and  hence is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Macobs Technologies will issue a total of 25,95,200 shares (25.95 lakh shares approximately), which at the upper band IPO price of ₹75 per share aggregates to fresh fund raising of ₹19.46 crore. Since there is no offer for sale, the fresh issue will also double up as the overall size of the IPO. Therefore, the overall IPO size will also comprise of the issue of 25,95,200 shares (25.95 lakh shares approximately) which at the upper band IPO price of ₹75 per share aggregates to overall IPO size of ₹19.46 crore.

 Like every SME IPO, this issue also has a market making portion. The company has set aside a total of 1,31,200 shares as quota for market inventory. SKI Capital Services Ltd has already been appointed as the market makers to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs. The company has been promoted by Shivam Bhateja, Dushyant Gandotra, and Divya Gandotra. The promoter holding in the company currently stands at 65.00%. However, post the fresh issue of shares, promoter equity holding share will get diluted to 47.78%. The fresh issue funds will be used by the company for customer acquisition, repayment of debt and for working capital requirements of the business. A small part of the IPO proceeds has also be set aside for general corporate purposes. SKI Capital Services Ltd will be the lead manager to the issue, and Maashitla Securities Private ltd will be the registrar to the issue. The market maker for the issue is SKI Capital Services Ltd. The IPO of Macobs Technologies will be listed on the SME IPO segment of the NSE.

Next steps after the closure of the IPO of Macobs Technologies

The issue opened for subscription on 16th July 2024 and closes for subscription on 19th July 2024 (both days inclusive). The basis of allotment will be finalized on 22nd July 2024 and the refunds will be initiated on 23rd July 2024. In addition, the demat credits are expected to also happen on 23rd July 2024 and the stock will list on 24th July 2024 on the NSE SME IPO segment. The credits to the demat account to the extent of shares allotted will happen by the close of 23rd July 2024 under ISIN (INE0R0J01010).

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 fairly strong 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.