How to check allotment status of Collecor Gadgets IPO

The ₹50.77 crore of Cellecor Gadgets IPO comprises entirely of a fresh issue with no offer for sale (OFS) component. The Fresh Issue portion of Cellecor Gadgets Ltd entails the issue of 55.188 lakh shares at which at the upper band of the price range at ₹92 per share aggregates to ₹50.77 crore. The stock has a face value of ₹10 and retail bidders can bid in minimum lot size of 1,200 share each. Thus, the minimum investment of ₹110,400 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO. HNIs / NIIs can invest in a minimum of 2 lots of 2,400 shares worth ₹220,800. There is no upper limit for the HNI / NII category or even for the QIB category.

The break-down of the reservation for  different categories of investors is as under.

Let us turn first to when you can check the allotment status of the shares online.

When can you check allotment status online?

The basis of allotment will be finalized on Monday, 25th September 2023, the refunds will be initiated on 26th September 2023, demat credits will be finalized on 27th September 2023, while the stock of Cellecor Gadgets Ltd will get listed on the NSE SME Emerge segment on 28th September 2023. The company had a pre-IPO promoter holding of 69.95% and post the IPO, the promoter stake in Cellecor Gadgets Ltd will stand diluted to 51.54%. On listing, the company will have an indicative P/E ratio of 24.21X, which is reasonable for the sector.

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 in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the website of the IPO registrar, Skyline Financial Services Private Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Cellecor Gadgets Ltd on the website of Skyline Financial Services Private Ltd (Registrar to IPO)

Visit the Skyline Financial Services Private Ltd registrar website for IPO status by clicking on the link below:

https://www.skylinerta.com/ipo.php

The first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Cellecor Gadgets Ltd on the list around 25th September 2023 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to the next screen.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Cellecor Gadgets Ltd from the dropdown box. The allotment status will be finalized on Monday, 25th September 2023, so in this case, you can access the details on the registrar website either late on 25th September 2023 or by middle of 26th September 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. All the three can be selected from the same screen by opting for the preferred radio button.

• Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. 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 either cases.
   
• Secondly, 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.
   
• 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 Cellecor Gadgets 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 27th September 2023. Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Cellecor Gadgets Ltd got.

Subscription response to the IPO of Cellecor Gadgets Ltd

The response to the IPO of Cellecor Gadgets Ltd was very strong as the overall issue was subscribed 116.33X at the close of bidding on 20th September 2023 which is well above the median subscription that the NSE SME IPOs have been getting in general. Out of the overall bids received, the retail segment saw 124.08 times subscription and the non-retail HNI / NII portion saw 176.54 times subscription. Even the QIB portion was subscribed 57.58 times. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 20th September 2023.

To sum it up, the subscription levels are fairly high in the retail and the HNI / NII category, which largely reduce your chances of getting the desired allotment of the IPO.

Quick word on the business profile of Cellecor Gadgets Ltd

Cellecor Gadgets Ltd was incorporated in 2020 and is engaged in the procurement, branding and distribution of an array of electronic gadgets and equipment .Cellecor Gadgets Ltd operates across 3 critical business verticals. The first vertical centres around entertainment and communication products. These include smart and conventional television sets. These are available in stock and LED versions equipped with the latest Android ecosystem. It has more than 35 SKUs of televisions, 15 SKUs of sound systems and more than 70 SKUs of mobile phones. The second vertical pertains to peripherals. These include TWS earbuds, neckbands, and smart watches. Under this category, the company has more than 145 SKUs. Finally, there is the third vertical of modern accessories. This includes power banks, data cables, USB chargers, adapters, chargers etc. There are more than 40 SKUs under this category. Cellecor Gadgets Ltd markets its products through an omnichannel approach with weightage to online and brick-and-mortar selling.

The company has been promoted by Ravi Agarwal and Nikhil Agarwal. The promoter holding in the company currently stands at 69.95%. However, post the fresh issue of shares, the promoter equity holding will get diluted to 51.54%. The fresh issue funds will be used by the company for meeting its working capital funding gaps and for general corporate expenses. Part of the monies raised will also go towards meeting the expenses of the issue.  Narnolia Financial Services Ltd will be the lead manager to the issue, while Skyline Financial Services Private Ltd will be the registrar to the issue. The market making for the issue will be jointly done by SS Corporate Services Ltd and Kantilal Chhaganlal Securities Ltd.