Essen Specialty IPO: how to check Allotment Status

The ₹66.33 crore IPO of Essen Speciality Films Ltd consists of a fresh issue combined with an offer for sale (OFS). The company has issued a total of 61,99,200 shares in the price band of  ₹101 to ͅ₹107 per share aggregating to total issue size of ₹66.33 crore. This includes 46.99 lakh shares by way of fresh issue and 15 lakh shares by way of offer for sale (OFS). The break-down of the offer reservation across different categories of investors is as under.

The response of the Essen Speciality Films IPO was extremely gratifying and it was subscribed 70.98X overall at the close of bidding on 27th June 2023 with the retail segment seeing 67.99 times subscription and the non-retail portion of HNI / NIIs seeing 112.21 times subscription. In addition, the QIB portion saw subscription of 45.26 times. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 27th June 2023.

The basis of allotment will be finalized on Monday, 03rd July 2023, the refunds will be initiated on 04th July 2023, demat credits will be finalized on 05th July 2023, while the stock of Essen Speciality Films Ltd will get listed on the NSE and the BSE on 06th July 2023. The company had a pre-IPO promoter holding of 100.00% and post the IPO, the promoter stake in Essen Speciality Films Ltd will stand reduced to 70.00%. On listing, the company will have an indicative P/E ratio of 16.50X.

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 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 Essen Speciality Films 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 Essen Speciality Films Ltd from the dropdown box. The allotment status will be finalized on Monday, 03rd July 2023, so in this case, you can access the details on the registrar website either late on 03rd July 2023 or by middle of 04th July 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO.

• Firstly, 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.
   
• 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.
   
• 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 Essen Speciality Films 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 06th July 2023.

Essen Speciality Films  Ltd, is an SME IPO on the NSE which had opened for subscription on 23rd June 2023. Essen Speciality Films  Ltd, was incorporated in 2002. It manufactures and exports specialized plastic products in the home furnishing and the home improvement segments. Its key clients include the multinational retail outlets like IKEA, Wal-Mart, Kmart, Kohl, Kroger, and Bed, Bath & Beyond. Its products are varied and it offers bath area accessories, artificial plants and flowers, storage, and organization units and utility products.

The products manufactured by Essen Speciality Films  Ltd have a diverse customer base across a gamut of industry groups. They comprise departmental stores, discount stores, retailers, hypermarkets, home improvement stores etc. It also supplies directly to select global importers and exporters. It caters to clients in more than 24 geographies which include China, UK, Saudi Arabia, US, Qatar, Germany, Italy, Canada, New Zealand, Spain, Belgium, Austria, Mexico etc. It has the recognition of a two-star export house by the government of India.