How To Check Enser Communications IPO Allotment Status

On the final day of bidding, Enser Communications IPO subscription figures saw a substantial rise on the third day, with a total subscription rate of over 6.96 times.

It attracted bids for 1.60 crore shares against the 23.1 lakh shares that were offered, indicating robust demand. The breakdown of subscriptions revealed a particularly strong interest from retail investors, who applied for 1,19,70,000 shares.

While the qualified institutional buyers (QIB) category showed minimal participation initially, the non-institutional investors (NII) category demonstrated considerable interest.

 If you applied for the IPO, here is how you can check the Enser Communications IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Enser Communications IPO allotment status

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

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

See Also: How Issac Newton Lost A Fortune In The Stock Market Due To ‘FOMO’

Enser Communications IPO Subscription Status

On March 15, Enser Communications, a provider of Business Process Management (BPM) services, launched its initial public offering (IPO). By the second day, the offering had attracted over 3.23 times the number of subscriptions, showcasing significant investor interest.

Founded in 2008, Enser Communications has carved a niche for itself by offering specialized BPM solutions to a diverse clientele spanning sectors such as insurance, e-commerce, education, and travel. The proceeds from this IPO are earmarked for several key areas: enhancement of the company’s IT infrastructure, augmentation of working capital, general corporate purposes, and covering the expenses related to the issue.

Enser Communications aims to raise ₹16.17 crores through the sale of 23.1 lakh new shares, priced at ₹70 each. This fixed-price issue encourages participation with a minimum bid requirement of 2000 shares, making it accessible for retail investors with an investment threshold of ₹140,000.

As for the IPO’s performance in the grey market, the shares of Enser Communications were not trading at a premium as of the latest update, indicating a grey market premium (GMP) of ₹0.

Read Next: Nothing Phone Order Turns Into E-Commerce Nightmare As Flipkart Stalls Return

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsIPOsEnser Communications