Presstonic Engineering IPO Allotment Status

About the Presstonic Engineering Ltd IPO

The IPO of Presstonic Engineering Ltd opened for subscription on 11th December 2023 and closed for subscription on 13th December 2023. The stock of Presstonic Engineering Ltd has a face value of ₹10 per share and it is a fixed price issue with the issue price already fixed at ₹72 per share. The Presstonic Engineering IPO only has a fresh issue component with no offer for sale (OFS) portion in the IPO. The fresh issue happens to be EPS and equity dilutive for the company. The fresh issue of shares of Presstonic Engineering Ltd entails the issue of 32,36,800 shares (32.37 lakh shares approximately), which at the fixed IPO price of ₹72 per share aggregates to a fresh issue size of ₹23.30 crore. Since there is no offer for sale portion, the total size of the fresh issue will also be the overall size of the IPO. Hence the total IPO size will also comprise of 32,36,800 shares, which at the fixed IPO price of ₹72 per share will aggregate to overall IPO size of ₹23.30 crore.

Market makers, promoters, and lead managers

Like every SME IPO, this issue also has a market making portion with a market maker portion allocation of 1,63,200 shares. The market maker for the issue is Nikunj Stock Brokers Ltd and they will provide two-way quotes to ensure liquidity on the counter as well as low basis costs post listing of the IPO. Presstonic Engineering Ltd was promoted by Herga Poornachandra Kedilaya and Yermal Giridhar Rao. The promoter holding in the company, post the IPO will get diluted from 99.97% to 57.99%. The company will sue the fresh funds for funding capex, repayment / prepayment of existing high cost loans, and funding the working capital gaps. Finshore Management Services Ltd will be the lead manager to the issue, and Cameo Corporate Services Ltd will be the registrar to the issue. The market maker for the issue is Nikunj Stock Brokers Ltd.

How and when to check allotment status online

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the NSE stock exchange website. Also, the BSE only offers allotment status in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the website of the IPO registrar, Cameo Corporate Services Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Presstonic Engineering Ltd on the website of Cameo Corporate Services Ltd (Registrar to IPO)

Visit the Cameo Corporate Services Ltd registrar website for IPO status by clicking on the link below:

https://ipo.cameoindia.com/

There are three things to remember. Firstly, there also a way to access this page via the home page of Cameo Corporate Services and clicking on the IPO Status link under the Useful Links drop down at the top of the page. Secondly, you can just click on the hyper link given above and directly go to the allotment checking page. The third option, in case you are not able to click on the link, is to copy the link and paste in your web browser.
Once you reach the relevant page as explained above, the first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Presstonic Engineering Ltd on the list around 14th December 2023 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to the next screen.

Input Options to check your allotment status

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Presstonic Engineering Ltd from the dropdown box. The allotment status will be finalized on 14th December 2023, so in this case, you can access the details on the registrar website either late on 14th December 2023 or by middle of 15th December 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. The preferred method, out of the 3 options, can be selected from the same screen by opting for the preferred radio button.

• Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. 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 Search Button in either cases.

• Secondly, 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.

• Thirdly, 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.

• In all the 3 cases above, please note that after inputting the details as relevant, there will be a 6-digit captcha that will appear and you must enter the captcha exactly as it is. It is fully a numeric captcha and it is meant to confirm that it is not a robotic access. In case you find that the captcha code is not too clear, 
The IPO status with number of shares of Presstonic Engineering Ltd allotted will be displayed on the screen. The screen will show the name of the first holder of the demat account, the number of allotted shares, the refund amount (if any), refund mode (cheque / ECS / ASBA) and the query number.

You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 15th December 2023 with the following details viz. (ISIN - INE0R1601012). Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Presstonic Engineering Ltd got.

Subscription response to the IPO of Presstonic Engineering Ltd

The response to the IPO of Presstonic Engineering Ltd was strong as the overall issue was subscribed 168.25X at the close of bidding on 13th December 2023, which is above the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 188.94 times subscription and the non-retail HNI / NII portion saw 133.56 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 13th December 2023.

The issue has been heavily subscribed; hence your chances of allotment would proportionately reduce. Investors must keep these calculations in mind while checking the allotment status once it is finalized at the registrar end. Of course, it would eventually depend on the basis of allotment as finalized by the company and approved by exchanges.

The issue is split into retail and HNI portion with a small allocation for the market maker to the IPO. The break-down of the reservation for  different categories of investors is as under.

With the IPO closed for subscription at the end of December 13th, 2023, 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 14th December 2023 while the refunds would be initiated on 15th December 2023. The shares of Presstonic Engineering Ltd (ISIN - INE0R1601012) would be credited to the demat accounts of eligible shareholders by the close of 15th December 2023 while the stock of Presstonic Engineering Ltd is expected to be listed on 18th December 2023. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.