Ganesh Green Bharat IPO Allotment Status

What you must know about IPO allotment status checking

IPO allotment status online is an internet facility that is provided by the BSE (formerly Bombay Stock Exchange) in the case of mainboard IPOs and BSE SME Segment IPOs as well as by the registrars on their website. Many of the brokers also provide direct connectivity to the database. However, in the absence of any connectivity, one option you always can use is the registrar access to the allotment status. In this case, Ganesh Green Bharat is an NSE SME Emerge IPO and hence the data would not be available on the website of BSE. 

NSE does not provide this facility on its website. That means; you can only check the allotment status on the website of the IPO registrar, KFIN Technologies Limited (formerly Karvy Computershare). The allotment in the IPO will depend on the extent of the oversubscription across the retail, HNI / NII and the QIB portion and it is the valid applications that will make the cut. But we will look at that later. Let us first look at when and where to check allotment status of Ganesh Green Bharat IPO. 

Ganesh Green IPO allotment date - July 10, 2024.

How to check Ganesh Green IPO allotment status?

The IPO basis of allotment will be finalized on 10th July, 2024. Hence, either late on 10th July 2024 or by middle of 11th July 2024, the allotment status can be checked online on the website of the IPO registrar. Where can the allotment status be checked? Typically, in all the mainboard issues and BSE SME IPO issues, it is possible to get the allotment status of the IPO either at the BSE website or on the website of the registrar to the IPO. In the case of Ganesh Green Bharat, being an NSE-SME IPO, it can only be checked on the website of the registrar to the IPO i.e., KFIN Technologies Ltd.

Checking the Ganesh Green IPO allotment status of on KFIN Technologies 

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:

https://ris.kfintech.com/ipostatus/

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 is also a way to access this page via the home page of KFIN Technologies Ltd but that pathway is slightly more complex as the website is designed more as a B2B website, so you can avoid that.
Here you are given the choice to select 5 servers viz. Link 1, Link 2, Link 3, Link 4, and Link 5. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 5 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select.

A small thing to remember here. Unlike on the BSE website, where the names of all IPOs are there on the drop-down menu, the registrar will only provide of the IPOs managed by them and where the allotment status is already finalized. Also, with the radio buttons you have a choice. You can either choose to see all IPOs or just recent IPOs. Choose the latter option, as that reduces the length of the list of IPOs you need to search through. Once you click on Recent IPOs, the dropdown will only show the recent active IPOs, so once the allotment status is finalized, you can select Ganesh Green Bharat from the drop-down box. In this case, the name of Ganesh Green Bharat will be available on the dropdown from 10th July 2024, once the basis of allotment is finalized.

There are 3 options. You can either query the allotment status based on Application Number or Demat Account (DPID-Client ID combination) or by PAN.

1) To Query by Application Number, check the appropriate box and follow these steps.

•    Enter the Application Number as it is
•    Enter the 6-digit Captcha Code
•    Click on Submit button
•    Allotment Status gets displayed on screen

In the past, the first step was to select Application Type (ASBA or Non-ASBA) before inputting your application number. Now, that step has been done away with.

2) To Query by Demat Account, check the appropriate box and follow these steps.

•    Select the depository (NSDL / CDSL)
•    Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
•    Enter the Client-ID
•    In the case of NSDL, the Demat account is 2 strings
•    In the case of CDSL, the Demat account is just 1 string
•    Enter the 6-digit Captcha Code
•    Click on Submit button
•    Allotment Status gets displayed on screen

3) To Query by PAN, check the appropriate box and follow these steps.

•    Enter the 10-digit PAN number
•    It will be available on your PAN card or your last filed tax return copy
•    PAN is of 10 characters; sixth to ninth characters are digits and rest are alphabets
•    Once you enter the PAN number, Enter the 6-digit numeric Captcha Code
•    Click on Submit button
•    Allotment status gets displayed on screen

You may note that at times the captcha code may not be clear. You have the choice of toggling for more options in such cases.

It is always advisable to retain a saved screenshot of the allotment status output for future reference. The same can be tallied with the demat account credit subsequently after the demat allotment is completed by the end of 11th July 2024. The demat credit to the extent of shares allotted in the IPO would be visible under (ISIN - INE0R8C01018)  in your demat account mandate provided in the IPO application. Nowadays, the refunds are issued and the demat allocation is also done on the same day, so there is no time lag and you can check both the data points from demat account and bank account on the same day.

Ganesh Green Bharat IPO Subscription status 

Here is the final subscription status of the Ganesh Green Bharat IPO as at close on 09th July 2024, at 19.00 hours.

Data Source: NSE

The issue was open for QIB investors, retail investors, and for HNI / NII investors; apart from a small employee quota too. There was a broad quota designed for each of the segments viz. the retail, QIB, Employees, and the HNI NIIs. As can be seen above, the overall IPO got subscribed at an impressive 229.99 times with the retail portion subscribed 176.88 times, and the HNI / NII portion subscribed 470.79 times. The QIB portion got subscribed 154.50 times; and these are the final allocation numbers as of the NSE closing time of the day on 09th July 2024. The net issue in the IPO above is the issue size net of the market making portion and the anchor allocation portion, which is the number used to calculate the oversubscription. In this case, the subscription ration for retail and HNI / NII portion is fairly high and that proportionately reduces the chances of subscription for the investors. 

Allocation of shares to each category of investors

The table below captures the break-up of the overall share allocation to QIBs, retail investors and to the HNI / NII investors. The anchor allotment is carved out of the QIB quota and the QIB quota is reduced accordingly. The market maker allocation is the inventory that will be used by the market maker to provide liquidity in the counter post listing, to keep the bid-ask spreads low and reduce the risks of trading in the stock.

The company has appointed Hem Finlease Private Ltd as the market maker and assigned a market making inventory of 3,31,200 shares to them. The market maker will use this inventory to offer buy and sell quotes to keep the counter liquid and reduce the basis risk on the stock post listing.

Data Source: Company RHP

The issue size, net of the market maker quota, has been divided between the QIB investors, retail investors and the HNI / NII investors. On July 04th, 2024, the company made an anchor allocation of 18,57,600 shares to anchor investors at the upper-band book building price of ₹190 per share. This included the par value of ₹10 per share and premium of ₹180 per share. The total size of the anchor allocation was ₹35.29 crore. The anchor portion was carved out of the QIB portion, as a result of which the QIB quota available in the IPO was reduced from 46.97% to 18.79%. The stock will list on the stock exchanges on the third working day after the closure of the IPO.

Brief on the next steps on Ganesh Green Bharat IPO

The issue opened for subscription on 05th July 2024 and closes for subscription on 09th July 2024 (both days inclusive). The basis of allotment will be finalized on 10th July 2024 and the refunds will be initiated on 11th July. In addition, the demat credits are expected to also happen on 11th July and the stock will list on 12th July on the NSE SME IPO segment. The credits to the demat account to the extent of shares allotted will happen by the close of 11th July 2024 under ISIN (INE0R8C01018).

Investors must 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 high 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.

About the Ganesh Green Bharat IPO

The stock of Ganesh Green Bharat has a face value of ₹10 per share and it is a book built issue. The book building price band for the IPO has been set in the range of ₹181 to ₹190 per share. The final price discovery will happen in the above price band only. The IPO of Ganesh Green Bharat has only a fresh issue component and no offer for sale (OFS) portion.

While the fresh issue portion is EPS dilutive and equity dilutive, the OFS is just a transfer of ownership and  hence is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Ganesh Green Bharat will issue a total of 65,91,000 shares (65.91 lakh shares), which at the upper band IPO price of ₹190 per share aggregates to fresh fund raising of ₹125.23 crore. Since there is no offer for sale, the fresh issue will also double up as the overall size of the IPO. Therefore, the overall IPO size will also comprise of the issue of 65,91,000 shares (65.91 lakh shares) which at the upper band IPO price of ₹190 per share aggregates to overall IPO size of ₹125.23 crore.

Like every SME IPO, this issue also has a market making portion. The company has set aside a total of 3,31,200 shares as quota for market inventory. Hem Finlease Private Ltd has already been appointed as the market makers to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs. The company has been promoted by Ketan Bhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Nirav Kumar Suresh Bhai Patel, and Shilpaben Ketan Bhai Patel.

The promoter holding in the company currently stands at 100.00%. However, post the fresh issue of shares, promoter equity holding share will get diluted to 73.42%. The fresh issue funds will be used by the company for repayment of debt and for capex towards installation of additional plant and machinery in the factory. A small part of the IPO proceeds has also be set aside for working capital needs. Hem Securities Ltd will be the lead manager to the issue, and KFIN Technologies Ltd will be the registrar to the issue. The market maker for the issue is Hem Finlease Private Ltd. The IPO of Ganesh Green Bharat will be listed on the SME IPO segment of the NSE.