Enser Communications IPO: Issue booked nearly 50% on Day 1, check latest updates, price and lot size

Enser Communications IPO saw a lukewarm response from investors as the public issue was booked nearly 50% till 1:30 pm on Friday after opening of the subscription window.

The initial public offer is open for bidding till March 19.

The ₹16.17-crore IPO received bids for a total of 10.88 lakh shares compared to 21.92 lakh shares on offer till 1:30 pm on Friday, the first day of subscription.

According to the NSE data, the non-institutional investors’ segment received bids for 3,56,000 shares compared to 10.96 lakh shares on offer. The retail portion saw biddings for 7.26 lakh shares compared to 10.96 lakh shares reserved for the category.

The allotment for Enser Communications Limited’s IPO is expected to be completed on Wednesday, March 20. Refunds for non-allottees and credit of shares into the Demat accounts of successful bidders will be initiated on March 21.

Shares of Enser Communications Ltd are likely to be listed on NSE Emerge on Friday, March 22.

Enser Communications IPO price band, issue size and minimum investment

Enser Communications Limited IPO price has been fixed at ₹70 per share. The IPO comprises entirely fresh issue of shares of 23.1 lakh units, which includes a market maker portion of 1.18 lakh shares.

For retail investors, the minimum lot size is 2,000 shares. The retail investors can apply for at least a single lot aggregating to a minimum investment of ₹1,40,000. The minimum application size for high net-worth individuals (HNI) is two lots or 4,000 shares amounting to₹2,80,000.

Fast Track Finsec Pvt Ltd is the book-running lead manager for the Enser Communications Limited’s IPO, and Skyline Financial Services Private Ltd serves as the registrar. BN Rathi Securities has been chosen as the market maker for the IPO.

Enser Communications Limited will use the IPO proceeds for establishing a new service unit in Gurugram, Haryana as well as meeting working capital requirements.

About Enser Communications Limited

Enser Communications Limited, established in 2008, focuses on business process management (BPM) services for sectors such as insurance, e-commerce, education and travel. The company has four main business verticals — customer acquisition services, customer services, IT infrastructure management services and data management services.

Enser Communications Limited offers communication services in a number of areas, including call centres, outsourcing, database administration, web services, information systems, software and hardware sales and maintenance, and knowledge-based initiatives.

Enser Communications Limited provides business analytics, customer relationship management, interactive voice response systems, and customer interaction management solutions.