Pune E-Stock Broking public offer received a massive bidding during three-day subscription. The company will finalise the basis of allotment today and shares will be listed on BSE SME on March 15.
The Pune E-Stock Broking’s initial public offer (IPO) received a bumper response from investors during its three-day subscription, which closed on Tuesday, March 12, 2024. Now, investors are expecting the allotment of shares by the company, which will finalize the basis of the allotment today.
The Pune E-Stock Broking IPO, a completely fresh issue consisting of 46.06 lakh shares, is a book build issue valued at ₹38.23 crore.
The public offer was oversubscribed 297 times, receiving bids for 1,01,85,71,200 shares against 34,33,600 shares on offer, as per BSE data. Retail subscribers led from the front, bidding for 46,47,28,000 shares over 13,71,200 shares set aside for them. The retail investors’ portion was oversubscribed 339 times.
In the Non-Institutional Investors’ (NIIs) category, the offer was oversubscribed 357 times, with bids received for 45,75,93,600 shares against the 12,80,000 shares reserved for such investors. Qualified Institutional Buyers (QIBs) subscribed to shares 123 times, bidding for 9,62,49,600 shares against the 7,82,400 shares offered to them.
The company raised ₹9.73 crore from anchor investors on March 6, allocating 1,172,800 shares or 25.46% of the public offer.
Subscribers can check the allotment status of their shares through the BSE or IPO registrar ‘Bigshare Services Pvt Ltd’ website.
How to check Pune E-Stock Broking IPO allotment status on the BSE:
- Log in to BSE website – https://www.bseindia.com/
- Go to ‘Investor Services’
- Click ‘Status of Issue Application’
- Select issue type ‘Equity’
- Select ‘Pune E-Stock Broking’ from the drop-down list
- Type Application Number or PAN Number
- Click on ‘Search’ button
- IPO application status will be shown.
Check Pune E-Stock Broking IPO allotment status on Bigshare Services’ site:
- Visit IPO registrar portal – https://www.bigshareonline.com/Index.aspx
- Select ‘IPO Allotment Status’ section
- Select the company name from the drop-down list
- Enter PAN/Application No./CAF No./Beneficiary ID
- Fill Captcha and Search
- Investors will get allotment status.
After the allotment process, investors will also receive information about the number of shares allotted to them and the number of shares they applied for.
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Pune E-Stock Broking IPO Details
The price band for the Pune E-Stock Broking IPO was fixed at ₹78 to ₹83 per share. The minimum lot size to bid for the issue was 1,600 shares, requiring an investment of ₹1,32,800 from retail investors. High net worth individuals (HNIs) were required to invest in a minimum of 2 lots or 3,200 shares, amounting to ₹2,65,600.
Non-allottees of shares under the issue will receive their refunds on Thursday, March 14th, while the shares will be credited to the Demat accounts of successful bidders the same day.
Pune E-Stock Broking IPO listing
The shares of the broking firm will be listed on BSE SME, with a tentative listing date set for Friday, March 15, 2024.
Share India Capital Services Private Limited serves as the book-running lead manager of the IPO, while Bigshare Services Pvt Ltd is the registrar. The market maker for the share sale is Share India Securities.
Pune E-Stock Broking’s promoters include Vrajesh Krishnakumar Shah, Devendra Ramchandra Ghodnadikar, Vrajesh Navnitbhai Shah, Sandip Sunderlal Shah, Paresh Sunderlal Shah, and Daidipya Ghodnadikar. Before the IPO, the promoters held a combined shareholding of 72.75%, which will decrease to 51.34% after the issue.
Pune E-Stock Broking Limited IPO Objective
The IPO proceeds will primarily be utilized to meet the working capital requirements of Pune E-Stock Broking Limited. The firm aims to expand its operations in margin trading, algorithmic-based trading, and credit line services using the IPO funds. Additionally, the company intends to utilize the proceeds to enhance its client base, revenue, and profitability.
Furthermore, Pune E-Stock Broking Limited plans to allocate funds towards general corporate purposes, including meeting operating expenses.
About Pune E-Stock Broking Limited
Established in 2007, Pune E-Stock Broking Limited (PESB) is a corporate broking house that offers services such as Client Broking and Depository facilities to equity trading clients. With a client base of 23,155 active clients in its Depository, the company caters to a diverse range of investors.
In addition to its core services, Pune E-Stock Broking Limited also has a presence in the mutual funds category, offering various investment options in equity, debt, and hybrid funds.
