Enser Communications IPO Subscribed 7.28 times

About Enser Communications IPO

Enser Communications IPO is fixed price issue of Rs 16.17 crores, consisting entirely of fresh issue of 23.1 lakh shares. Enser Communications IPO opens for subscription on March 15, 2024 & closes today, March 19, 2024. allotment for Enser Communications IPO is expected to be finalized on Wednesday, March 20, 2024. Enser Communications IPO will list on NSE SME with tentative listing date fixed as Friday, March 22, 2024.

Enser Communications IPO's price is ₹70 per share. minimum lot size for application is 2000 shares. minimum amount of investment required by retail investors is ₹140,000. minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.

Fast Track Finsec Pvt Ltd is book running lead manager of Enser Communications IPO, while Skyline Financial Services Private Ltd is registrar for issue. market maker for Enser Communications IPO is B.N. Rathi Securities.

Final Subscription Status of Enser Communications IPO

Here is final subscription status of Enser Communications IPO as at close on 19th March 2024.

Enser Communications Ltd's IPO subscription status indicates moderate overall demand, with total subscription of 7.28 times shares offered. Non-Institutional Buyers showed decent interest, subscribing 3.64 times offered shares, while Retail Investors demonstrated stronger interest, subscribing 10.91 times offered shares. Market Maker category saw full subscription. Despite total application count of 5,978, subscription rate remained relatively moderate, suggesting mixed response from investors.

Allocation quota for Various Categories

1. Market Maker: Market makers are allocated small portion of shares, constituting 5.11% of total IPO size. Market makers play crucial role in ensuring liquidity & stability in secondary market.

2. Other Investors: Category of "Other Investors" includes applicants other than retail investors, such as HNI, corporates, & institutions. This segment is allocated significant portion of shares, accounting for 47.45% of IPO size. It indicates substantial interest from various investor groups apart from retail investors.

3. Retail Investors: Retail investors are also allocated 1,096,000 shares, which is equivalent to 47.45% of total IPO size. This allocation encourages retail participation, promoting broader ownership & potential demand in secondary market.

Data Source: NSE

How subscription built up for Enser Communications IPO?

Subscription of IPO was dominated by HNI / NII followed by Retail category & QIB category in that order. table below captures day-wise progression of subscription status of Enser Communications IPO was kept open for 3 working days.

Here are key takeaways from subscription numbers on day-wise basis for Enser Communications Ltd as of close of IPO on 19th March 2024. Subscription buildup for Enser Communications IPO over three days indicates progressive increase in demand from investors across all categories.

1. Day 1: Non-Institutional Buyers (NII) showed initial interest with subscription of 0.59 times offered shares, followed by Retail Investors at 1.87 times, resulting in total subscription of 1.23 times.
2. Day 2: Subscription saw significant growth, with NII subscription increasing to 1.36 times & Retail Investors subscribing 5.46 times, leading to total subscription of 3.41 times.
3. Final day, March 19, 2024, witnessed substantial surge in subscription, particularly from NII, reaching 3.64 times, & Retail Investors subscribing 10.91 times. This resulted in overall oversubscription of 7.28 times.

Overall, IPO saw steady increase in demand, with Retail Investors driving significant oversubscription, indicating strong market interest in Enser Communications Ltd.