Vishwas Agri Seeds IPO Allotment Status

Quick take on the IPO of Vishwas Agri Seeds

Vishwas Agri Seeds IPO, a fixed price issue of ₹ 25.80 crores, comprises entirely of 30 lakh fresh shares. Vishwas Agri Seeds IPO commenced subscription on March 21, 2024, and concludes today, March 26, 2024. Allotment for the Vishwas Agri Seeds IPO is expected to be finalized on Wednesday, March 27, 2024. Subsequently, it will list on NSE SME with a tentative listing date set for Monday, April 1, 2024.

The price of Vishwas Agri Seeds IPO is fixed at ₹86 per share. The minimum lot size for an application stands at 1600 Shares, requiring a minimum investment of ₹137,600 for retail investors. For HNI investors, the minimum lot size investment is 2 lots (3,200 shares), totaling ₹275,200. 

Vishwas Agri Seeds IPO’s book running lead manager is Isk Advisors Pvt Ltd, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Vishwas Agri Seeds IPO is Sunflower Broking.

How to Check allotment status of Vishwas Agri Seeds 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 the website of Bigshare Services Private Ltd (Registrar to IPO)

Visit the Bigshare Services Private Limited (IPO registrar to Vishwas Agri Seeds 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 Vishwas Agri Seeds. At that point, you can go and select the company Vishwas Agri Seeds from the drop down box. The allotment status will be finalized on 27th March 2024, so in this case, you can access the details on the registrar website either late on 27th March 2024 or by middle of 28th March 2024. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of Vishwas Agri Seeds.

•  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 Vishwas Agri Seeds 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 28th March 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

The Vishwas Agri Seeds IPO comprises a total of 3,000,000 equity shares, with 47.47% of shares offered to retail investors and an equal portion to other investors. Market makers are allocated 5.07% of the shares. The issue size amounts to Rs 25.80 crores, with retail investors and other investors each contributing Rs 12.25 crores. This distribution strategy aims to ensure broad participation across investor categories, potentially enhancing market liquidity and overall demand for the IPO.

Vishwas Agri Seeds IPO subscribed 12.21 times. The public issue subscribed 11.57 times in the retail category, 12.80 times in Other category by March 26, 2024.

The subscription status of the IPO indicates strong investor interest, with the total bid-to-offer ratio reaching 12.21 times. Retail investors showed significant enthusiasm, subscribing 11.57 times the shares offered to them. Similarly, other investors, comprising HNIs, corporates, and institutions, subscribed at a robust rate of 12.80 times. This high subscription rate reflects positive market sentiment and suggests favorable demand for the IPO shares.

Next steps after the closure of the IPO of Vishwas Agri Seeds Ltd

The issue opened for subscription on 21th March 2024 and closed for subscription on 26th March 2024 (both days inclusive). The basis of allotment will be finalized on 27th March 2024 and the refunds will be initiated on 28th March 2024. In addition, the demat credits are also expected to happen on 28th March 2024 and the stock is scheduled to list on 1sr April 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 27th 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.