Pune E-Stock Broking IPO share allotment to be finalised on March 13, check steps to know status
Upstox
3 min read • Updated: March 13, 2024, 12:32 PM
Summary
Pune E-Stock Broking shares are scheduled to be listed on BSE SME on Friday, March 15. The IPO subscription closed on March 12 with a massive demand as the public issue was subscribed 297 times.
Pune E-Stock Broking IPO received an overwhelming response from investors during its three-day subscription, which closed on Tuesday, March 12. Now, investors eagerly await the allotment of shares by the company, which will finalise the allocation status today, March 13.
The subscribers can check the allotment status of shares through the BSE or IPO registrar 'Bigshare Services Pvt Ltd' website.
Here's how to check Pune E-Stock Broking IPO allotment status on BSE:
- Go to BSE website at https://www.bseindia.com/
- Visit the section 'Investor Services'
- Click 'Status of Issue Application'
- Select issue type 'Equity'
- Select 'Pune E-Stock Broking' from the drop down list
- Type Application Number or PAN
- Click on 'Search' button
- IPO application status will appear on screen.
Steps to check Pune E-Stock Broking IPO allotment status on Bigshare Services' portal
- Go to IPO registrar portal at https://www.bigshareonline.com/Index.aspx
- Visit 'IPO Allotment Status' section
- Select the company name from the drop-down list
- Enter PAN/Application No./CAF No./Beneficiary ID
- Enter Captcha and Search
- Investors can see allotment status on screen.
Investors will also know the number of shares allotted to them and the number of shares they applied for only after the company finalises the share allocation.
Non-allottees under the public issue will get their refunds on Thursday, March 14, while the shares will be credited to the Demat accounts of successful bidders the same day.
Shares of the broking firm will be listed on BSE SME with a tentative listing date fixed as Friday, March 15.
Pune E-Stock Broking IPO details
The initial public offer (IPO) of Pune E-Stock Broking, a book build issue of ₹38.23 crore, comprises an entirely fresh issue of 46.06 lakh shares.
Pune E-Stock Broking IPO was oversubscribed 297 times, receiving bids for 1,01,85,71,200 shares against 34,33,600 shares on offer, as per BSE data. Retail subscribers led the demand, as the portion reserved for the category was booked 339 times. The non-institutional investors' (NIIs) category was booked 357 times while the qualified institutional buyers’ (QIBS) submitted bids 123 times of the shares on offer for the segment.
The company raised ₹9.73 crore from anchor investors on March 6, allocating 1,172,800 shares or 25.46% of the public offer.
Pune E-Stock Broking IPO price band was fixed at ₹78 to ₹83 per share. The minimum lot size to bid for the issue was 1,600 shares, which required an investment of ₹1,32,800 from retail investors. The minimum lot size for investment by high net worth individuals (HNIs) was 2 lots or 3,200 shares, amounting to ₹2,65,600.
The IPO proceeds will be utilised by the company to meet the working capital requirements of the company. The broking firm is looking to expand its operations in margin trading, algorithmic-based trading, and credit line services, utilizing IPO funds. The company intends to use the proceeds to boost client base, revenue, and profitability.
Set up in 2007, Pune E-Stock Broking Limited (PESB) is a corporate broking house, which offers services like client broking and depository facility to equity trading clients. The company has a client base of 23,155 active clients in its depository.
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