C P S Shapers IPO : How to check the Allotment Status

The ₹11.10 crore IPO of C P S Shapers Ltd comprises entirely and wholly of a fresh issue of shares with no offer for sale (OFS) component. The Fresh Issue portion of C P S Shapers Ltd entails the issue of 6 lakh shares which at the fixed IPO price of ₹185 per share aggregates to ₹11.10 crore. Since there is no offer for sale portion, the fresh issue portion will also be the total size of the issue. Therefore, the overall size of the IPO of C P S Shapers Ltd also entails the issue of 6 lakh shares which at the fixed IPO price of ₹185 per share aggregates to ₹11.10 crore.

The stock has a face value of ₹10 per share. It is a fixed price issue with the IPO price already fixed at ₹185 per share. Since it is not a book building issue, there is no question any price discovery, since the price of the IPO has already been set. Retail bidders can bid in minimum lot size of 600 share each. Thus, the minimum investment of ₹111,000 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO.  The table below shows the quota reserved for each of the category of participants in the IPO.

The response to the IPO of C P S Shapers Ltd was relatively strong and it was subscribed about 253.97X overall at the close of bidding on 31st August 2023 with the retail segment seeing the best 301.03 times subscription and the non-retail portion seeing 198.17 times subscription. The issue got oversubscribed on the first day itself, although most of the traction was built across on the last day of the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 31st August 2023. The market maker portion is jut to understand the mix.

The basis of allotment will be finalized on Tuesday, 05th September 2023, the refunds will be initiated on 06th September 2023, demat credits will be finalized on 07th September 2023, while the stock of C P S Shapers Ltd will get listed on the NSE SME segment on 08th September 2023. The company had a pre-IPO promoter holding of 99.80% and post the IPO, the promoter stake in C P S Shapers Ltd will stand reduced to a level of 71.29%.

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can either check your allotment status on the website of the broker (if they are offering a direct link to the data), or the on the website of the IPO registrar, Bigshare Services Private Limited. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of C P S Shapers Ltd on the website of Bigshare Services Private Limited (Registrar to IPO)

Visit the Bigshare Services registrar website for IPO status by clicking on the link below:

https://www.bigshareonline.com/ipo_Allotment.html

Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. 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 3 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 would still be the same across.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select C P S Shapers Ltd from the dropdown box. The allotment status will be finalized on Tuesday, 05th September 2023, so in this case, you can access the details on the registrar website either late on 05th September 2023 or by middle of 06th September 2023. Once the company is selected from the dropdown box, you have 3 different ways to check the allotment status for the IPO.

• Firstly, you can access with your allotment status based on the Application Number / CAF Number. This is available in the CAF acknowledgement given to you by the broker. 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.

• Secondly, you can search by Beneficiary ID of your demat account. From the dropdown box, you must first select the depository name where your demat account is held i.e., NSDL or CDSL. In the case of NSDL, enter the DP id and Client id in separate boxes as provided. 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 both cases. In case you have multiple demat accounts, you can only use the demat account used to apply for the IPO as a source of authentication for checking allotment status.

• 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.
The IPO status with number of shares of C P S Shapers Ltd 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 07th September 2023.

A brief on C P S Shapers Ltd and the SME IPO

C P S Shapers Ltd was incorporated in 2012, to engage in manufacture of Shapewear for Men and Women. C P S Shapers Ltd manufactures and sells Shapewear for men and women through its brands “Dermawear” and the company currently sells the products via offline and online channels.  C P S Shapers Ltd has a very wide product portfolio, which includes saree shapewear, mini shaper, sports bra, Mini corsets, tummy reducers, Active Pants, Denim, Mask, and other shapewear. The company boasts of a pan-India presence and its distributor network is spread across 28 states and 8 Union territories in India. It also exports to 5 countries; including Canada, Germany, Australia, UK, and the US. While the company has its manufacturing unit located at Meerut in Uttar Pradesh; its warehousing facilities are located at Palghar in Maharashtra, and Tirupur in Tamil Nadu.

As of date, the company has over 50 products in its catalogue, more than 6,000 retail presence counters, over 10 online sales channels, established presence in omnichannel selling as well as a strong presence in 6 countries. The corporate intent was to create a forward-looking brand that combines innovative designs with functionality and comfort. The idea is to feel comfortable and confident in their body. The journey began when Dermawear introduced a range of stockings and shapewear, revolutionizing the way people perceive body shaping and support garments. Today, the product portfolio of CPR Shapers Ltd includes a wide array of meticulously crafted shapewear and athleisure clothing, catering to diverse body types and fashion preferences. 

C P S Shapers Ltd was promoted by Abhishek Kamal Kumar and Rajendra Kumar. Promoter holding in the company currently stands at 99.80%. However, post the fresh issue of shares and the OFS, the promoter equity holding share will reduce to 71.29%. Allowing public float of over 25% is an essential precondition of listing. The fresh issue funds will be used by the company for purchase of plant & machinery, purchase of commercial vehicles, capex for solar power systems, IT upgradation, repayment of loans and funding of working capital gaps. While Shreni Shares Private Ltd will be the lead manager and market maker to the issue, Bigshare Services Private Ltd will be the registrar to the issue.