Synoptics Technologies IPO: How to check Allotment Status

The ₹54.03 crore IPO of Synoptics Technologies Ltd comprises of a fresh issue and an offer for sale. The total SME IPO of Synoptics Technologies Ltd entails issue of 22.80 lakh shares at which at the fixed IPO price of ₹237 per share which aggregates to ₹54.03 crore. The ₹54.03 crore IPO size is divided into a fresh issue of ₹35.08 crore and an offer for sale of ₹18.95 crore. The stock has a face value of ₹10 and retail bidders can bid in minimum lot size of 600 share each. Thus, the minimum investment of ₹142,200 in the IPO is the base limit. That is also the maximum that a retail investor can apply for in the IPO.

The response to the IPO of Synoptics Technologies Ltd was very moderate and it was subscribed 2.66X overall at the close of bidding on 05th July 2023 with the retail segment seeing 2.54 times subscription and the non-retail portion seeing 2.58 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 05th July 2023.

The basis of allotment will be finalized on Monday, 10th July 2023, the refunds will be initiated on 11th July 2023, demat credits will be finalized on 12th July 2023, while the stock of Synoptics Technologies Ltd will get listed on the NSE and the BSE on 13th July 2023. The company had a pre-IPO promoter holding of 100.00% and post the IPO, the promoter stake in Synoptics Technologies Ltd will stand reduced to 73.11%. On listing, the company will have an indicative P/E ratio of 25.32X.

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 Synoptics Technologies 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 Synoptics Technologies Ltd from the dropdown box. The allotment status will be finalized on Monday, 10th July 2023, so in this case, you can access the details on the registrar website either late on 10th July 2023 or by middle of 11th 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 Synoptics Technologies 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 12th July 2023.

Synoptics Technologies Ltd, is a fixed price SME IPO on the NSE which opened for subscription on 30th June 2023. The company, Synoptics Technologies Ltd, was incorporated in 2008 to provide IT related services and solutions. The company offers specialized solutions in very niche areas like IT infrastructure, branch connectivity, network implementation, network support, route set-up, switch set-up, configuration etc. Synoptics Technologies Ltd also designs solutions for clients who are looking to put their applications on the cloud, which includes cloud migration and cloud set-up.

Synoptics Technologies helps small businesses, and the Government in their Digital journey with various use cases of specific industry verticals. It has a premium B2B client list which includes names like TATA Communications, BOB Financial Services, Blue Dart Express, Lifestyle International, Shoppers Stop Limited, H&M Retail, GIC Housing Finance, Motilal Oswal Financial Services etc. It has also recently signed up to become the authorized private LTE partner for 5G services nationally. It is headquartered in Mumbai and has 17 regional offices.