Signoria Creation IPO Allotment Status

Quick take on the IPO of Signoria Creation

Signoria Creation is embarking on IPO endeavour, aiming to raise ₹ 9.28 cr through issuance of 14.28 lakh fresh shares. Investors have opportunity to subscribe to IPO from March 12 to March 14, 2024. Allotment of shares is anticipated to be finalized on March 15, 2024, with company planning to list on NSE SME on March 19, 2024. 

Signoria Creation, established in 2019, specializes in manufacturing & sale of women's clothing such as kurtis, pants, tops, co-ord sets, dupattas, & gowns. Company operates two manufacturing units located in Mansarovar & Sanganer, Jaipur, Rajasthan. Additionally, it recently acquired 501.33 square meter plot in Mansarovar for expansion, indicating its growth aspirations.

IPO's price band is set between ₹61 to ₹ 65 per share, with minimum lot size of 2000 shares. For retail investors, minimum investment required is ₹130,000, while High Net Worth Individuals (HNIs) are required to invest minimum of ₹260,000.

Holani Consultants Private Limited serves as book running lead manager for IPO, overseeing its execution. Bigshare Services Pvt Ltd has been appointed as registrar to manage IPO process efficiently. Investors are keenly watching Signoria Creation IPO as it signifies significant step forward for company's growth trajectory.

Checking allotment status of Signoria Creation 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 directly on the website of the IPO registrar, Bigshare Services Pvt Ltd. Here are the steps that you need to follow to check allotment status.

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

Visit the Bigshare Services Private Limited (IPO registrar to Signoria Creation website for IPO 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 is also a way to access this page via the home page of Bigshare Services Private Ltd by clicking on the “Allotment Status” link displayed prominently on the home page. It all works the same.

This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for Signoria Creation. At that point, you can go and select the company Signoria Creation from the drop down box. The allotment status will be finalized on 15th March 2024, so in this case, you can access the details on the registrar website either late on 15th March 2024 or by middle of 18th March 2024. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of Signoria Creation Ltd.

•  Firstly, you can query for the application status based on your mapped Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The first 5 characters are alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Submit Button.

•  Secondly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP id and customer id as it is. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Submit Button in both cases.

You can follow any of the options above. The IPO status with number of shares of Signoria Creation allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 18thMarch 2024 or after that. These shares would be credited to your demat account under the following details. 

It must be noted here that, in the past, Bigshare Services Private Ltd (the registrar to the issue) was also offering the facility to query on allotment status based on application number / CAF number. That has now been discontinued and applicants in the IPO can now only query by either the Income Tax PAN number or the demat account number. The query facility by application number / CAF number is no longer available and therefore the investors can now check the online allotment status only based on the PAN query or the DP account query.

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. This is the first factor that impacts the investor’s chances of allotment in the IPO.

Data Source: NSE

You can check the number of shares available for your specified quota which gives an idea of the chances of allotment at the outset itself. The response to the IPO of Signoria Creation Ltd was relatively strong and it was subscribed 666.32X overall at the close of bidding on 14th March 2024 with the Retail segment seeing 649.88 times subscription and the HNI / NII portion seeing 1,290.56 times subscription. Even the QIB portion saw a robust subscription of 107.56X in the IPO of Signoria Creation Ltd. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 14th March 2024.

The oversubscription numbers are exclusive of the market maker portion, which is intended to provide liquidity with low bid-ask spreads for the investors and it is also exclusive of the anchor allocation portion to give a proper picture of the extent of oversubscription.

Next steps after the closure of the IPO of Signoria Creation Ltd

The issue opened for subscription on 12th March 2024 and closed for subscription on 14th March 2024 (both days inclusive). The basis of allotment will be finalized on 15th March 2024 and the refunds will be initiated on 18th March 2024. In addition, the demat credits are also expected to happen on 18th March 2024 and the stock is scheduled to list on 19th March 2024 on the NSE SME segment. This is the segment, in contrast to the mainboard, where IPOs of small and medium enterprises (SMEs) are incubated. The demat credits to the demat account to the extent of allotment will happen by the close of 18th March 2024.

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 modest to strong 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.