Envirotech Systems IPO share allotment: Here’s how to check status on NSE and Bigshare Services

The initial public offering (IPO) of Envirotech Systems Ltd is set to be finalised today, September 20. The NSE SME IPO closed with strong demand, getting booked over 92 times during the bidding process from September 13 to September 19. Investors placed bids for 30.24 crore shares against 32.92 lakh shares on offer.

The Non-institutional Investors (NIIs) booked their portion 188.13 times while Qualified Institutional Buyers (QIBs) subscribed their allocation 68.11 times. The issue was subscribed 64.16 times in the retail investor category.

Investors who participated in the Envirotech Systems IPO can check the share allotment status online through the registrar's and NSE's websites.

Steps to check Envirotech Systems IPO share allotment status on the NSE

• Go to the NSE IPO allotment Status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your username and password. Investors, who do not have an account on the NSE, will need to create a new login.
• Choose ‘Envirotech Systems’ from the drop-down menu.
• Type in and verify your PAN details.
• Enter your IPO application Number.
• Click submit and your allotment details will be shown on the screen

Here’s how to check Envirotech Systems IPO share allotment status on the registrar Bigshare Services' website:

• Open the official Website of Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html
• Go to the ‘Company Selection’ section and choose Envirotech Systems. The name of the company will only appear once the share allocation is finalised.
• In the selection type choose any of these application numbers, beneficiary ID or PAN. Enter details.
• Complete the captcha verification.
• Click the ‘Search’ button to view your allotment status.

After finalising the share allotment status for the IPO, Envirotech Systems will initiate refunds for non-allottees on September 23. Shares of the company will also be credited to the demat accounts of successful bidders on the same day.

Envirotech Systems Limited shares are likely to debut on the NSE SME platform, Emerge, on September 24.

Envirotech Systems IPO details

Envirotech Systems Limited IPO was a book-building issue worth ₹30.24 crore. The IPO consisted entirely of a fresh issue of 54 lakh shares. The IPO price band was set between ₹53 and ₹56 per share.

The company plans to use the net proceeds from the offering to purchase land and building to set up a new factory. A portion of the money will also be used for funding the company's working capital requirement, general corporate purposes and public issue expenses.

Envirotech Systems Limited specialises in noise measurement and control solutions for both industrial and commercial applications.

The company focuses on designing and supplying custom enclosures aimed at reducing noise from machinery, suitable for indoor and outdoor use.

Their product ranges include acoustic enclosures, noise barriers, test booths, anechoic chambers and metal doors.