Teerth Gopicon IPO Allotment Status

Building blocks of the Teerth Gopicon Limited Ltd IPO

Teerth Gopicon IPO is a fixed price issue of Rs 44.40 crores. The issue comprises entirely a fresh offering of 40 lakh shares. Teerth Gopicon IPO commenced its subscription on April 8, 2024, and concludes today, April 10, 2024. The allotment for the Teerth Gopicon IPO is scheduled to be finalized on Friday, April 12, 2024. The IPO is set to list on NSE SME, with the tentative listing date fixed as Tuesday, April 16, 2024.

Teerth Gopicon IPO is priced at ₹111 per share. The minimum lot size for an application is 1200 Shares, with a minimum investment requirement of ₹133,200 for retail investors. For HNIs, the minimum lot size investment is 2 lots (2,400 shares), amounting to ₹266,400. Interactive Financial Services Ltd is the book running lead manager of the Teerth Gopicon IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Teerth Gopicon IPO is Giriraj Stock Broking.

How to check allotment status of Teerth Gopicon Ltd IPO?

Since this is a not Mainboard IPO, there is not facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs. If you have applied for the IPO, you can check your allotment status on the website of the IPO registrar, Bigshare Services Pvt 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, Bigshare Services Pvt Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on April 12, 2024.

Checking the allotment status on Bigshare Services Pvt Ltd (Registrar to IPO)

Visit the Bigshare Services Pvt Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://ipo.bigshareonline.com/IPO_Status.html

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 Bigshare Services Pvt 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 Bigshare Services Pvt 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

Bigshare Services Pvt 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 April 12, 2024, so the investors would be able to access the online allotment status facility, either late on April 12, 2024 or by the middle of April 12, 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 April 15, 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 Teerth Gopicon Ltd at the close of the IPO on April 10, 2024.

Data Source: NSE

The Teerth Gopicon IPO saw exceptional demand, with an overall subscription of 75.54 times, driven by overwhelming interest from Non-Institutional Buyers (NII) at 97.12 times and strong participation from retail investors at 44.33 times.

The subscription indicates high investor confidence in the IPO, reflecting robust market sentiment. The allocation for Market Maker shares constitutes 5.01% of the total issue size, indicating a smaller portion reserved for this category.

Other shares offered account for the largest proportion, with 47.49% of the total issue size, suggesting significant participation from non-retail and non-market maker investors. Retail shares offered also make up 44.33% of the total issue size, indicating a substantial allocation for individual retail investors.

To sum it up, the oversubscription is very 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 Teerth Gopicon Ltd

With the IPO of Teerth Gopicon Ltd closed for subscription at the end of April 10, 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 April 12, 2024 while the refunds would be initiated on April 15, 2024.

The shares of Teerth Gopicon Ltd would be credited to the demat accounts of eligible shareholders by the close of April 15, 2024 while the stock of Teerth Gopicon Ltd is expected to be listed on April 16, 2024. The listing will happen on the NSE Mainboard 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.