Graphisads IPO Allotment Status

About the IPO of Graphisads Ltd

The IPO of Graphisads Ltd opened for subscription on 30th November 2023 and closed for subscription on 05th December 2023. The stock of Graphisads has a face value of ₹10 per share and is a fixed price issue. The issue price for the fresh issue IPO has been fixed at ₹111 per share. The IPO of Graphisads Ltd has only a fresh issue component with no book built portion. As part of the fresh portion of the IPO, Graphisads Ltd will issue a total of 48,12,000 shares (48.12 lakh shares), which at the IPO fixed price of ₹111 per share aggregates to a total IPO fund raising of ₹53.41 crore. Since there is no offer for sale portion, the size of the fresh issue will also be the total size of the IPO i.e., Rs53.41 crore comprising of the issue of 48,12,000 shares at the fixed IPO price of ₹111 per share.

The minimum lot size for the IPO investment will be 1,200 shares. Thus, retail investors can invest a minimum of ₹133,200 (1,200 x ₹111 per share) in the IPO. That is also the maximum that the retail investors can invest in the IPO. HNI / NII investors can invest a minimum of 2 lots comprising of 2,400 shares and having a minimum lot value of ₹266,400. There is no upper limit on what the QIBs and HNI / NII investors. Graphisads Ltd IPO also has a market making portion with market maker inventory allocation of 2,42,400 shares. The market maker, Rikhav Securities Ltd, will offer two-way quotes to ensure liquidity and low basis costs post listing. Promoters hold 99.99% stake in the company, which will get diluted to 75% post the IPO. Graphisads Ltd will use the fresh funds to repay borrowings and working capital funding needs. First Overseas Capital Ltd is the lead manager to the issue, and KFIN Technologies Ltd is the registrar to the issue.

What you must know about allotment status checking

Allotment status online is an internet facility that is provided by the BSE (formerly Bombay Stock Exchange) in the case of mainboard IPOs and BSE SME Segment IPOs as well as by the registrars on their website. Many of the brokers also provide direct connectivity to the database. However, in the absence of any connectivity, one option you always can use is the registrar access to the allotment status. In this case, Graphisads Ltd is an NSE SME Emerge IPO and hence the data would not be available on the website of BSE. 

NSE does not provide this facility on its website. That means; you can only check the allotment status on the website of the IPO registrar, KFIN Technologies Limited (formerly Karvy Computershare). The allotment in the IPO will depend on the extent of the oversubscription across the retail, HNI / NII and the QIB portion and it is the valid applications that will make the cut. But we will look at that later. Let us first look at how to check the allotment status of the Graphisads Ltd IPO. Here are the steps.

When and where to check the allotment status?

When can the allotment status be checked. The IPO allotment status will be finalized on December 08th, 2023. Hence, either late on December 08th, 2023 or by middle of December 09th, 2023, the allotment status can be checked online on the website of the IPO registrar. Where can the allotment status be checked? Typically, in all the mainboard issues, it is possible to get the allotment status of the IPO either at the BSE website or on the website of the registrar to the IPO. 

However, Graphisads Ltd IPO being a NSE-SME Emerge IPO, it would be listed only on the NSE and not on the BSE. Hence BSE will not be providing the allotment status for this IPO, while NSE does not normally offer online allotment status on their website. Hence, in the case of Graphisads Ltd IPO, the only way is the check on the website of KFIN Technologies, the registrar to the IPO.

Checking the allotment status of Graphisads Ltd on KFIN Technologies Ltd (Registrar to IPO)

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:

https://ris.kfintech.com/ipostatus/

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 is also a way to access this page via the home page of KFINTECH India Ltd but that pathway is slightly more complex as the website is designed more as a B2B website, so you can avoid that.
Here you are given the choice to select 5 servers viz. Link 1, Link 2, Link 3, Link 4, and Link 5. 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.

A small thing to remember here. Unlike on the BSE website, where the names of all IPOs are there on the drop-down menu, the registrar will only provide of the IPOs managed by them and where the allotment status is already finalized. Also, for simplicity, you can either choose to see all IPOs or just recent IPOs. Choose the latter, as that reduces the length of the list of IPOs you need to search through. Once you click on Recent IPOs, the dropdown will only show the recent active IPOs, so once the allotment status is finalized, you can select Graphisads Ltd from the drop-down box.   

• There are 3 options. You can either query the allotment status based on PAN, Application Number or Demat Account (DPID-Client ID combination).   

• To Query by PAN, check the appropriate box and follow these steps.
        ◦ Enter the 10-digit PAN number
        ◦ Enter the 6-digit Captcha Code
        ◦ Click on Submit button
        ◦ Allotment status gets displayed on screen   

• To Query by Application Number, check the appropriate box and follow these steps.
        ◦ Enter the Application Number as it is
        ◦ Enter the 6-digit Captcha Code
        ◦ Click on Submit button
        ◦ Allotment Status gets displayed on screen
In the past, the first step was to select Application Type (ASBA or Non-ASBA) before inputting your application number. Now, that step has been done away with.

• To Query by Demat Account, check the appropriate box and follow these steps.
        ◦ Select the depository (NSDL / CDSL)
        ◦ Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
        ◦ Enter the Client-ID
        ◦ In the case of NSDL, the Demat account is 2 strings
        ◦ In the case of CDSL, the Demat account is just 1 string
        ◦ Enter the 6-digit Captcha Code
        ◦ Click on Submit button
        ◦ Allotment Status gets displayed on screen
It is always advisable to retain a saved screenshot of the allotment status output for future reference. The same can be tallied with the demat account credit subsequently after the demat allocation is completed by the end of December 12th 2023.

Subscription status for the Graphisads Ltd IPO

Here is the final subscription status of the Graphisads Ltd IPO as at close on 05th December 2023, at 17.30 hours.

The issue was only open for retail investors and for the HNI / NIIs. There was a broad quota designed for each of the segments viz. the retail and the HNI NII. As can be seen above, the overall IPO got subscribed just about 3.85 times with the retail portion subscribed 5.51 times and the HNI / NII portion subscribed 2.01 times at the close of the fourth and final day of the IPO on December 05th 2023. 

The table below captures the allocation reservation done for each of the categories. 

Since there is no anchor portion in the IPO and also no specific QIB allocation, the entire issue, other than the 5.04% allocated to the market makers (Rikhav Securities Ltd in this case), were for the public issue only. The market maker uses the shares to offer buy and sell quotes on the counter post listing so as to keep the counter liquid and reduce the basis risk of trading in the stock.

Brief on the next steps on Graphisads Ltd IPO

The IPO just closed on Tuesday, 05th December 2023 and at the close of the fourth and final day of the IPO, the issue was subscribed 3.85 times overall. That is a very reasonable subscription figure and substantially increases the chances of getting IPO allotment in the IPO. The basis of allotment will be finalized on 08th December 2023 while the refunds to non-allottees will be initiated on the 11th December 2023. The company expects to complete the demat credits to the allottees as of 12th December 2023, while the company plans to list its IPO on the NSE SME Emerge Segment on 13th December 2023.