Enser Communications IPO oversubscribed over 7 times, retail portion booked 11x on final day

Enser Communications Ltd IPO, a fixed-priced issue of ₹16.17 crore, saw a good response from investors. On the final day of bidding on Tuesday, March 19, the public offer was booked more than 7 times.

The NSE SME offer, garnered bids for 1,60,62,000 shares over the 21,92,000 shares on offer, resulting in 7.32 times oversubscription, the NSE data showed.

Retail investors submitted bids for 11 times of the shares on offer for the segment. Bids for a total of 1,19,54,000 shares were received in the category as against 10,96,000 shares set aside for them. Non-institutional investors bought 3.72 times their quota, applying for 40,86,000 shares over the 10,96,000 shares on offer.

There was no anchor investor portion in the IPO. The company, however, reserved 5.11% of the issue size, or 1,18,000 shares, for market maker BN Rathi Securities.

Enser Communications IPO subscription was open from March 15-19. The IPO share allotment status is expected to be finalised on March 20.

IPO applicants can check the allotment status online, either through the NSE or the registrar's portal. Skyline Financial Services Private Ltd is the registrar to the public issue.

After the allotment of shares, the company will return money to non-allottees of IPO shares on Thursday, March 21, and also credit shares to the Demat accounts of successful bidders on the same day.

Enser Communications IPO shares are scheduled to be listed on Friday, March 22.

The IPO is an entirely fresh issue of 23.1 lakh shares. The Enser Communications IPO price was set at ₹70 per share. The company fixed a minimum lot size for an application at 2,000 shares, requiring retail investors to invest a minimum amount of ₹1,40,000. High net worth individuals were required to invest in 2 lots or 4,000 shares, amounting to ₹2,80,000.

About Enser Communications Limited

Set up in 2008, Enser Communications Ltd is a company with expertise in business process management (BPM). It provides services to companies operating in the insurance, e-commerce, education and travel verticals. The company operates in four primary business verticals like customer acquisition services, customer services, IT infrastructure management services and data management services.

Within these verticals, Enser offers a wide range of services such as business analytics, customer relationship management (CRM), interactive voice response systems (IVRS), customer interaction management solutions, and technology-enabled infrastructure development, among others