Enfuse Solutions Limited IPO Allotment Status

Building blocks of the Enfuse Solutions Ltd IPO

Enfuse Solutions IPO, valued at Rs 22.44 crores, offers 23.38 lakh fresh shares in a book built issue. Bidding for ESIPO commenced on March 15, 2024, closing on March 19, 2024. Allotment was finalized on March 20, 2024, with NSE SME listing set for Friday, March 22, 2024. Enfuse Solutions IPO's price band stands at ₹91 to ₹96 per share, with a minimum lot size of 1200 shares. Retail investors must invest a minimum of ₹115,200, while HNIs need 2 lots (2,400 shares), amounting to ₹230,400.

Enfuse Solutions IPO, a book built issue, ran from March 15 to March 19, 2024, with a listing date scheduled for March 22, 2024, on NSE SME. Priced at ₹91 to ₹96 per share, each lot consisted of 1200 shares, totaling 2,337,600 shares and aggregating up to ₹22.44 crore. The face value per share is ₹10. The IPO reserved 18.99% for QIBs, 14.27% for NIIs, 33.21% for RIIs, and 28.39% for Anchor investors. Enfuse Solutions IPO timeline included the basis of allotment on March 20, 2024, initiation of refunds and credit of shares to Demat accounts on March 21, 2024, with the cut-off time for UPI mandate confirmation set for 5 PM on March 19, 2024.

Enfuse Solutions IPO’s book running lead manager are Hem Securities Limited, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Enfuse Solutions IPO is Hem Finlease.

Checking allotment status of Enfuse Solutions 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, 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 20thMarch 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 20thMarch 2024, so the investors would be able to access the online allotment status facility, either late on 20thMarch 2024 or by the middle of 06th 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 21thMarch 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 Enfuse solution Ltd at the close of the IPO on 19th March 2024.

Enfuse Solutions Ltd IPO subscription status reflects strong investor interest across categories. While Anchor Investors & Market Makers showed moderate subscription levels, Qualified Institutions segment demonstrated robust participation, nearly exhausting shares offered.

Non-Institutional Buyers exhibited overwhelming demand, oversubscribing by impressive 953.22 times, reflecting high investor confidence. Retail Investors also displayed significant interest, with subscription of 248.42 times, indicating retail participation in IPO. Overall, IPO garnered total subscription of 357.31 times, with total applications reaching 160,729, indicating widespread investor enthusiasm & positive market sentiment towards Enfuse Solutions Ltd.

Here is final subscription status of Enfuse Solutions 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 Enfuse Solutions Ltd

With the IPO of Enfuse Solutions 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 Enfuse Solutions Ltd would be credited to the demat accounts of eligible shareholders by the close of 21th March 2024 while the stock of Enfuse Solutions Ltd is expected to be listed on 22thMarch 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.