HP Telecom India IPO booked nearly 2 times on final day: Here’s how to check allotment status online

The ₹34.23-crore initial public offering (IPO) of HP Telecom India Ltd sailed through on the last day of bidding on Monday, February 24, after witnessing tepid demand on the first two days of subscription. The NSE SME issue closed with an overall subscription of nearly 2 times, led by the Non-Institutional Investors (NIIs).

The maiden share sale of the home appliances distributor received bids for more than 59.13 lakh shares against 30.09 lakh shares on offer, leading to an overall subscription of 1.96 times, as per the NSE data at the end of bidding at 5 pm.

The retail portion of the IPO was booked 1.85 times, with bids for 27.9 lakh shares as against 15.04 lakh shares reserved for the category. Meanwhile, the NIIs booked their segment 2.07 times with bids for 31.23 lakh shares compared to 15.04 lakh shares on offer.

Bidders would now be waiting for the announcement of the allotment status for the HP Telecom India IPO. The company is scheduled to finalise the share allotment on Tuesday, February 25.

Investors can check the share allotment details online, either on the National Stock Exchange of India (NSE) website or on the portal of the issue’s registrar, Bigshare Services Pvt Ltd.

Steps to check HP Telecom India IPO allotment status on NSE website

• Visit NSE’s IPO allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Choose ‘HP Telecom India Ltd’ under the symbol ‘HPTL’
• Fill in your PAN details and application number
• Click on submit

Steps to check IPO allotment status Bigshare Services website:

• Open the IPO allotment status page on Bigshare Services website: https://www.bigshareonline.com/ipo_allotment.html
• Choose any of the server links from the three options
• Select HP Telecom India Ltd from the drop-down menu for company names
• Choose any of these options for verification – PAN, Application Number, DP ID, or Account Number
• Enter the relevant details as per your selection
• Click on the ‘Submit’ button

HP Telecom IPO key details

• The IPO consisted only of a fresh issuance of 31.69 lakh equity shares and had no offer-for-sale (OFS) component.
• The IPO was a fixed-price issue and shares were offered at ₹108 apiece in a lot size of 1,200 units.
• Interactive Financial Services Ltd is the book-running lead manager of the issue, while Bigshare Services Pvt Ltd is the registrar. The market maker for the IPO is Aftertrade Broking Pvt Ltd.
• After the announcement of share allotment on February 25, refunds are likely to be processed on February 27, and shares will be credited to the Demat accounts of successful bidders on the same day.
• Shares of HP Telecom India are scheduled to be listed on the NSE Emerge platform on February 28.

About HP Telecom India and use of IPO proceeds

Incorporated in 2011, HP Telecom India initially started operations as a mobile phone distributor. The company has now diversified into the distribution of home appliances. It has secured exclusive rights for the distribution of Sony LED TVs, mobiles and other brands in Gujarat. Its product portfolio includes LED/LCD home theatres and air conditioners.

Currently, it is the sole distributor of Apple products in Chhattisgarh, Madhya Pradesh and select cities in Uttar Pradesh and Gujarat. It has also secured exclusive distribution rights for top brands like Sony, Nokia, Intex and Apple.

HP Telecom has proposed using the net proceeds generated from the IPO to fund the company’s working capital requirements and general corporate purposes.

In the first six months of the financial year 2024-25, ending September 2024, the company’s revenue from operations stood at ₹581.23 crore, and its net profit was ₹5.23 crore.

For the full financial year 2023-24, HP Telecom India’s revenue from operations was recorded at ₹1,058.91 crore compared to ₹637.5 crore in FY 2022-23.

The company’s profit after tax (PAT) for FY24 stood at ₹8.6 crore compared to ₹6.35 crore in FY23.

Key performance indicators (As of March 2024)