The allotment for Sahasra Electronics IPO is expected to be finalised today. Investors can check their allotment status through the registrar, Bigshare Services, or on the NSE website. The IPO, which was open for subscription from September 26 to September 30, saw a healthy response from investors, being oversubscribed by 122 times.

Specifically, the non-institutional investor (NII) segment was oversubscribed 260.46 times, while the retail portion was oversubscribed 74.85 times. The QIB portion has also been booked at 100.80 times. The IPO price was set between ₹269 and ₹283 per share.

Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on October 03, 2024.

Shares allotted will be credited to investors’ demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of October 4, 2024.

The company plans to allocate the net proceeds for several essential purposes, including funding capital expenditures for installing additional plant and machinery at a new manufacturing facility located in Bhiwadi, Rajasthan.

A portion of the proceeds will also be invested in its subsidiary, Sahasra Semiconductors Private Limited, to support its capital expenditure needs for further installations. Additionally, the funds will be used to meet working capital requirements and for general corporate purposes.

Here are the steps to check allotment status online on register website

Since Bigshare Services Pvt Ltd is the registrar to the SME IPO, investors can check the allotment status online on Bigshare Services’ website:

Step 1: Go to the registrar Bigshare Services Pvt Ltd’s website by clicking on this link: https://www.bigshareonline.com/ipo_Allotment.html

Step 2: Select any of the three servers on the Bigshare website to check the allocation status.

Step 3: Click on Company Selection, and thereafter, from the dropdown, select the company name ‘Sahasra Electronics’.

Step 4: Select from among any one of the following options it asks for: application number, demat account, or PAN number.

Step 5: Enter the details pertaining to the option selected.

Step 6: Hit the Search button and don’t forget to enter the Captcha code.

On NSE’s website:

Open the IPO allotment page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Log in with your credentials.

Select Sahasra Electronics., enter your PAN details and application number, and click “Submit.”

About Sahasra Electronics

The company specializes in providing electronics system design and manufacturing (ESDM) solutions. Its offerings encompass a wide range of products and services, including printed circuit board (PCB) assembly, box build services, LED lighting, memory components, IT accessories, and computer hardware.

During the fiscal year 2024, the company exported over 80% of its products and solutions to global manufacturers in countries such as the United States, Rwanda, Tunisia, the United Kingdom, Germany, Canada, Austria, and Belgium.

The company has expanded its key customer base significantly, growing from approximately 20 customers in fiscal 2022 to around 40 customers in fiscal 2024. Over the years, it has developed a diversified clientele across various end-use industries, including railways, aerospace, marine, automotive, healthcare, and IT hardware, thereby reducing customer concentration risk.

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