IPO Registrar List in India

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IPO Registrar List in India 

You must know the general meaning of the term ‘registrar’. It’s an entity that maintains a record or registrar of anything. Companies hire registrars to maintain a record of their registers after it goes public. In other words, IPO registrars are independent financial entities registered with India’s stock exchanges. A company which wishes to launch an initial public offering (IPO) appoints an IPO registrar to maintain a proper record of the issue and shares. 

As an investor, you can contact the IPO registrar if you face any pre-issue or post-issue-related problems. Suppose you have not received the letter of allotment or the allotted shares in your account. An IPO registrar is the right person who can address this problem. 

IPO Registrar List in India 

This section will provide a list of the IPO registrars in India: 

Name of the RegistrarNo. of IPOsIPO Registrar Website
Bigshare Services Private Limited 449https://www.bigshareonline.com/Index.aspx 
Link Intime India Private Limited 401https://www.linkintime.co.in/ 
Kfin Technologies Limited 304https://kosmic.kfintech.com/ipostatus/ 
Cameo Corporate Services Limited 86https://online.cameoindia.com/ 
Skyline Financial Services Private Limited75https://www.skylinerta.com/ 
Purva Sharegistry India Private Limited 48http://www.purvashare.com 
Sharepro Services Private Limited 25NA
Sharex Dynamic (India) Private Limited 24http://www.sharexindia.com 
Satellite Corporate Services Private Limited 16NA
Mas Services Limited 12http://www.masserv.com 
Alankit Assignments Limited 11https://www.alankit.com/ 
Beetal Financial & Computer Services (P) Limited11http://www.beetalfinancial.com 
Maashitla Securities Private Limited 7https://www.maashitla.com/ 
Aarthi Consultants Private Limited 5http://www.aarthiconsultants.in/ 
Mondkar Computers Private Limited 4https://www.unisec.in/ 
Datamatics Financial Services Limited 4https://www.datamatics.com/investors/shareholder-s 
Adroit Corporate Services Private Limited 4https://www.adroitcorporate.com/ 
S.K.D.C Consultants Limited 3http://www.skdc-consultants.com 
Universal Capital Securities Private Limited 3http://www.unisec.in 
Maheshwari Datamatics Private Limited 3http://www.mdpl.in 
Niche Technologies Private Limited 2http://www.nichetechpl.com 
Cb Management Services (P) Limited 2http://www.cbmsl.com 
Accurate Securities & Registry Private Limited 1https://www.accuratesecurities.com/ 
Integrated Registry Management Services Private Limited https://www.integratedindia.in/Corporate-Container.aspx?CPI 
S.K. Infosolutions Private Limited 1http://www.skcinfo.com 
Ankit Consultancy Private Limited1https://www.ankitonline.com/ 
RCMC Share Registry Private Limited 1http://www.rcmcdelhi.com/ 
Mcs Share Transfer Agent Limited 0http://www.mcsregistrars.com/ 
Venture Capital and Corporate Investments Private Limited 0https://www.vccipl.com 

What Is IPO Registration and How Does It Work?

Private companies that wish to open themselves to the public for investment must follow a rigorous process for registration. They must first follow the guidelines set by SEBI and the stock exchange to be eligible for public listing. Companies hire underwriters, auditors, lawyers and accountants to register for an IPO. This complex process ensures the protection of investors’ interests. 

The IPO registration process involves the filing of draft papers by a company to launch its IPO. The draft red herring prospectus (DRHP) filed with SEBI, the market regulator, must contain various disclosures of the company’s details and its upcoming IPO. SEBI reviews these details and provides an in-principle approval if all requirements are met.  ;

Finally, the company files its final prospectus with the IPO registrar, after which it can announce a launch date. 

What Is the Role of a Registrar in an IPO? 

The responsibility of the IPO registrar includes processing IPO applications, allocating shares to investors based on the market regulator’s guidelines, transferring allocated shares to their demat accounts and processing refunds through cheque or ECS. 

Let’s explore the details of what the main duties of an IPO registrar entail: 

Processing of IPO Applications 

When a company launches its IPO, the registrar receives applications from all kinds of investors. It’s their responsibility to minutely go through these applications and process them further. 

Allocation of Shares 

Allocating shares to the investors as per SEBI’s guidelines involves a long process. Investors cannot purchase shares on a random basis because companies going public set the number of lots and the number of shares are fixed in these lots. 

If you’re a beginner in the field of IPOs, you should note that shares from a public issue have to be bought in lots. Let’s understand this better with an example. Suppose the price of a share is Rs. 1,500 and four shares comprise a lot. So, the price of one lot would be (4 * 1500) or Rs. 6,000. 

What Happens When There’s an Oversubscription of Shares? 

What is the meaning of oversubscription? Well, when a company receives more applications than the number of shares it has offered, it’s known as an oversubscription. 

When oversubscription takes place, the IPO registrar needs to take into account the company’s rules while allocating the extra shares among investors. Generally, the registrar allocates the minimum number of shares among all investors to be fair.

Let’s again, use an example to understand oversubscription better. Suppose the company has offered 2 lakh shares through its IPO. The lot size is 50 shares; so 4,000 lots are on offer. But, the company receives bids for 4 lakh shares, i.e. 8,000 lots. In this case, each investor would be allotted a minimum of 1 lot of 50 shares. So, a person who has made an application for 4 lots will only receive 1 lot. 

However, if the total number of subscribers is over 4,000, the company won’t be able to allot at least 1 lot to each investor. In that case, a lucky draw system determines who receives the shares.

Processing of Refunds 

When there’s an oversubscription of shares, investors receive a refund. Let’s consider the aforementioned example. Suppose, an investor receives 1 lot after subscribing for 3 lots. They will get back the money spent on the other two lots. 

IPO registrars will initiate the processing of these refunds either through cheques or ECS (Electronic Clearance Service). 

Allocation of Shares in Demat accounts 

Once the allotment of shares has taken place, shareholders/investors will receive them in their demat accounts. 

Conclusion 

In recent times, an IPO has become an increasingly important event and has attracted attention from the media, retail investors and financial institutions. Beginners need to be aware of the duties of the registrar of an IPO to have a better understanding of how this process works. 

IPO registrars are financial entities which scrutinise every IPO application a company receives. They are responsible for processing IPO applications, allocating shares to an investor’s demat account and processing refunds (if needed).

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Frequently Asked Questions

1. Can an investor submit multiple applications in his name in an IPO?

Answer Field

No, an investor cannot submit multiple applications in his/her name with respect to an IPO. If someone applies to an IPO with the same name, demat account number and PAN card details, all of their applications will be outright rejected.

2. How long will an issue be kept open?

Answer Field

The opening periods vary depending on the type of issue. A fixed-price public issue will be kept open for 3 to 10 working days. Book-built public issues are kept open for 3 to 7 working days. The timeframe is extendable by 3 working days if there’s a revision in the price band.

3. Suppose an investor applies on the first day and in the first hour itself. Will it increase his/her chances for IPO allotment?

Answer Field

There is no such rule. As per SEBI’s guidelines, irrespective of whether an investor applies for 1 lot or more, there’s every chance that the person will receive only 1 lot if there has been a slight oversubscription. For large oversubscriptions, a computerised lottery is used.

4. When does the allotment of IPO shares take place?

Answer Field

Generally, allotment of shares takes place within a week from the closing date of subscription.

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