Blue Pebble IPO (How to Check Allotment status)

Building blocks of the Blue Pebble IPO

Blue Pebble IPO, valued at Rs 18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024. With price band ranging from ₹159 to ₹168 per share, IPO offers investors opportunity to participate. 
Retail investors can apply for minimum lot size of 800 shares, necessitating investment of at least ₹134,400. Meanwhile, high net worth individuals (HNI) have option to bid for 2 lots, equivalent to 1,600 shares, requiring minimum investment of ₹268,800. 

Hem Securities Limited is book running lead manager of Blue Pebble IPO, while Bigshare Services Pvt Ltd is registrar for issue.

How to check allotment status of Blue Pebble IPO?

Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Bigshare Services Pvt. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status on the website of the IPO registrar, Bigshare Services Pvt. The same can typically checked once the basis of allotment is finalized in this case, which will be late on 01st April 2024.

Checking the allotment status on Bigshare Services Pvt Ltd (Registrar to IPO)

Visit the Bigshare Services Pvt Ltd registrar website for checking the IPO allotment status by clicking on the link below:
https://ipo.bigshareonline.com/IPO_Status.html

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Bigshare Services Pvt Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Bigshare Services Pvt Ltd the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Bigshare Services Pvt Ltd offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on 01st April 2024, so the investors would be able to access the online allotment status facility, either late on 01st April 2024 or by the middle of 2ndApril 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on 2nd April 2024 or later. It would appear on the demat account with ISIN Number.

How allocation quota and subscription impact basis of allotment?

Here is a quick look at how the allocation was made across different categories of investors in the IPO of Blue Pebble ltd at the close of the IPO on 28th March 2024.

Data Source: NSE

Subscription details of Blue Pebble IPO depict remarkable level of investor interest & demand, with issue being oversubscribed by 56.32 times overall. Retail category witnessed robust demand, subscribing 58.40 times, indicating significant participation from individual investors. Non-Institutional Buyers (NII) category also exhibited substantial oversubscription, recording remarkable 97.31 times subscription, reflecting high demand from high net-worth individuals & corporate investors.

Qualified Institutions category saw comparatively lower subscription levels at 21.77 times, suggesting relatively moderate interest from institutional investors. Overall, strong subscription figures across all investor categories underscore positive market sentiment & investor confidence in Blue Pebble's IPO offering.

To sum it up, the oversubscription is quite modest, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of Blue Pebble Ltd

With the IPO of Blue Pebble Ltd closed for subscription at the end of 28thMarch 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 01st  April 2024 while the refunds would be initiated on 02ndApril 2024.

The shares of Blue Pebble would be credited to the demat accounts of eligible shareholders by the close of 02ndApril 2024 while the stock of Blue Pebble Ltd is expected to be listed on 03rdApril 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.