How to check allotment status of Master Components IPO?

The ₹15.43 crore of Master Components IPO comprises of a combination of a fresh issue and an offer for sale (OFS) component. The Fresh Issue portion of Master Components Ltd entails the issue of 7 lakh shares which at the fixed IPO price of ₹140 per share aggregates to ₹9.80 crore. The offer for sale (OFS) portion of Master Components Ltd entails the sale of 4.02 lakh shares which at the fixed IPO price of ₹140 per share aggregates to ₹5.63 crore.

Therefore, the overall Issue size of Master Components Ltd entails the issue of 11.02 lakh shares which at the fixed IPO price of ₹140 per share aggregates to ₹15.43 crore. The stock has a face value of ₹10 and retail bidders can bid in minimum lot size of 1,000 share each. Thus, the minimum investment of ₹140,000 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 2,000 shares worth ₹280,000 as the bare minimum investment. There is no upper limit for the HNI / NII category or even for the QIB category.

 Here is a break-up of the total shares issued by the company and its quota allocated for different groups of investors.

The response to the Master Components IPO was very moderate and it was subscribed just about 8.20X overall at the close of bidding on 21st September 2023 with the retail segment seeing the best response at 10.11 times subscription, and the non-retail portion seeing 5.89 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 21st September 2023.

The basis of allotment will be finalized on Tuesday, 26th September 2023, the refunds will be initiated on 27th September 2023, demat credits will be finalized on 28th September 2023, while the stock of Master Components Ltd will get listed on the NSE on 29th September 2023. The company had a pre-IPO promoter holding of 100.00% and post the IPO, the promoter stake in Master Components Ltd will stand diluted proportionately to 72.41%        . On listing, the company will have an indicative P/E ratio of 27.09X.

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 Master Components 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 Master Components Ltd from the dropdown box. The allotment status will be finalized on Tuesday, 26th September 2023, so in this case, you can access the details on the registrar website either late on 26th September 2023 or by middle of 27th September 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 Master Components 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 28th September 2023.

A brief on Master Components Ltd and the SME IPO

Master Components Ltd was incorporated in 1999 to engage in the manufacture of plastic engineering components and sub-assemblies. Its primary business is the molding of materials to produce new components for electrical, medical, industrial, and automotive sector applications. Among the specific molding products made by Master Components Ltd are Thermoplastic Injection Molding, Thermoset Injection Molding, Thermoset transfer molding and Compression Molding. The company has a manufacturing facility in Nashik, Maharashtra, which has a capacity ranging from 60 to 450 tonnes and the range of the product models go from 1 gram to 1,500 grams. Master Components Ltd has 3 factories and also owns Master Mould Private Ltd, a designing and manufacturing company for all types of injection, compression, and transfer molds.

The company has been promoted by Mudduraj Kulkarni, Shrikant Joshi, Rajeshwari Kulkarni and Anagha Joshi. The promoter holding in the company currently stands at 100.00%. However, post the fresh issue of shares and the OFS, the promoter equity holding share will get diluted to 72.41%. The fresh issue funds will be used by the company for meeting its working capital needs and for general corporate expenses. Part of the funds will also be applied towards the cost of the fund raising. While Aryaman Financial Services Ltd will be the lead manager to the issue, Bigshare Services Private Ltd will be the registrar to the issue. The market maker for the issue is Aryaman Capital Markets Ltd.