Enfuse Solutions, a digital solutions provider, will finalize the basis of IPO share allotment today, after an overwhelming 357 times oversubscription during the bidding process.
Subscribers are eagerly anticipating confirmation of their share allotment status.
Investors can check the allotment status of Enfuse Solutions IPO shares through two platforms: the official website of the registrar, Bigshare Services Pvt Ltd, and the NSE portal.
Here’s how to know the allotment status of Enfuse Solutions IPO shares on the Bigshare Services portal:
- Visit the Bigshare Services website at ‘https://www.bigshareonline.com’.
- Click on ‘IPO Allotment Status’ on the homepage.
- Choose a server displayed on the subsequent page.
- Select ‘Enfuse Solutions’ from the dropdown list of companies.
- Enter the Application No/CAF No/Beneficiary ID/PAN No.
- Fill the captcha details.
- Click the ‘Search’ button.
- The IPO allotment status will be displayed on the screen.
To check the IPO allotment status on NSE, follow these steps:
IPO bidders need to register on the NSE website to access the share allotment status. They must obtain a username and password beforehand. Here’s how to check the allotment status on NSE:
- Visit the NSE website at ‘https://www.nseindia.com/’.
- Log in with the provided username and password.
- Select the company name from the dropdown list.
- Enter PAN.
- Fill in the IPO application No.
- Click the ‘Submit’ button.
Enfuse Solutions IPO Subscription Status
Enfuse Solutions’ IPO, valued at ₹22.44 crore as a book-build issue, garnered significant interest from investors, concluding the bidding process with an impressive 357 times subscription on Day 3. The SME IPO, which opened for subscription on March 15, comprised entirely of a fresh issue of 23.38 lakh shares.
On the final bidding day, investors submitted bids for 55,53,78,000 shares against the available 15,54,000 shares, resulting in a 357 times oversubscription.
In the non-institutional category, the IPO received applications for 31,81,15,200 shares against the reserved 3,33,600 shares, marking a 954% oversubscription. Retail investors bid for 19,28,74,800 shares compared to the reserved 7,76,400, resulting in a 248 times oversubscription.
Qualified institutional buyers subscribed to 4,43,88,000 shares against the offered 4,44,000 shares, resulting in a 100 times oversubscription, according to NSE data.
Enfuse Solutions allocated 18.99% of the total shares to qualified institutional buyers, 14.27% to non-institutional investors, 33.21% to retail investors, and 28.39% to anchor investors.
On March 14, 2024, the company raised ₹6.37 crore from anchor investors by allotting 6,63,600 shares.
Hem Securities Limited acts as the book-running lead manager for the Enfuse Solutions IPO, with Hem Finlease serving as the market maker.
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Enfuse Solutions IPO Details
Enfuse Solutions fixed the issue price band at ₹91 to ₹96 per share, with a minimum lot size of 1,200 shares. Retail investors were required to invest a minimum amount of ₹1,15,200. High Net Worth Individuals (HNIs) were required to invest in a minimum of 2 lots or 2,400 shares, totaling ₹2,30,400 investment.
Following the allotment, non-allottees will receive their refunds on March 21. Successful bidders will have their shares credited to their Demat accounts on the same day. The company is expected to list its shares on the NSE SME on March 22, 2024.
The promoters of the company are Imran Yasin Ansari, Mohammedk Lalmohammed Shaikh, Rahul Mahendra Gandhi, Zaynulabedin Mohmadbhai Mira, and Farheen Imran Ansari. Their pre-public offer holding was at 100%, which will now be reduced to 73.58%.
