Esconet Technologies IPO closed for bidding on February 20. The SME IPO received a total subscription of 508 times. The Esconet Technologies IPO allotment status is set to be finalised today

If you applied for the IPO, here is how you can check the Esconet Technologies IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Esconet IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Esconet Technologies" from the dropdown menu.
3. Then on the next page, you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Submit to retrieve the Esconet Technologies IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Esconet IPO allotment status will be visible.

Esconet Technologies IPO Subscription Status

On the final day of the bidding process, the IPO had been subscribed 508 times, receiving bids for 113.38 crore equity shares against the IPO size of 22.30 lakh shares. The retail category was oversubscribed by 553.02 times, while the Qualified Institutional Buyer (QIB) category saw a subscription of 156.02 times, and the Non-Institutional Investors (NII) category was oversubscribed by 868.05 times.

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Esconet Technologies IPO GMP

Esconet Technologies IPO GMP is currently reported to be around ₹85 per share, indicating a premium of 101.19% compared to its IPO price of ₹84 per share. It's important to note that while IPO GMPs can offer a glimpse into market sentiment regarding an IPO, they shouldn't be taken as the sole determinant of the stock's performance upon listing.

Esconet Technologies IPO Details

The Esconet Technologies IPO consists of an entirely fresh equity issue of 33.6 lakh shares, with the price band set at ₹80-84 per share. The company intends to utilize the proceeds from the fresh issue for various purposes, including working capital requirements, investment in its subsidiary Zeacloud Services Private Limited, funding capital expenditure, and general corporate expenses.

Established in 2012, Esconet Technologies offers a range of high-end supercomputing solutions and data centre facilities, encompassing storage servers, network security, virtualization, and data protection. Their diverse product portfolio includes servers, graphics workstations, comprehensive data storage solutions, virtualization software, backup and disaster recovery solutions, network security tools, email communication systems, databases with high availability, and log management and analytics software.

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