SPECIALITY RESTAURANTS LIMITED
(Our Company was incorporated as Speciality Restaurants Private Limited on December 1,
1999 as a private limited company under the Companies Act, 1956. The name of our Company
was changed to Mainland Restaurants Private Limited on May 7, 2003 and a fresh certificate
of incorporation dated May 8, 2003 was issued by the Registrar of Companies, West Bengal.
Subsequently the name of our Company was changed again to Speciality Restaurants Private
Limited and a fresh certificate of incorporation dated January 1, 2004 was issued.
Consequent upon the conversion of our Company to a public limited company, the name of our
Company was changed to Speciality Restaurants Limited and a fresh certificate of
incorporation dated February 10, 2011 was issued by the Registrar of Companies, West
Bengal. For further details see the section "History and Certain Corporate
Matters" on page 138 of the Prospectus.)
Registered Office: Uniworth House, 3A, Gurusaday Road, Kolkata 700 019; Tel:
(91 33) 2283 7964; Fax: (91 33) 2280 9282. Corporate Office:
B/25,4th Floor, Morya Landmark I, Veera Industrial Estate, Of New Link Road, Andheri
(West), Mumbai 400 053. Contact Person: V. S. Satyamoorthy, Company
Secretary and Compliance Officer Tel: (9122) 33416700; Fax:
(9122) 33416878. Website: www.speciality.co.in;
Email: investor@speciality.co.in
PROMOTERS OF OUR COMPANY: ANJAN CHATTERJEE AND SUCHHANDA CHATTERJEE
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 11,739,415 EQUITY SHARES OF FACE VALUE RS. 10 EACH OF
SPECIALITY RESTAURANTS LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR
CASH AT A PRICE OF RS. 150 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 140 PER
EQUITY SHARE) AGGREGATING TO RS. 1,760.91 MILLION (THE "ISSUE"). THE ISSUE WILL
CONSTITUTE 25.00% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
BID/ISSUE OPENED ON MAY 16, 2012* AND CLOSED ON MAY 18, 2012.
* The Anchor Investor Bid/Issue Period was one working day prior to the Bid/Issue
Opening Date.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH. THE ISSUE PRICE IS RS. 150 PER
EQUITY SHARE AND IS 15 TIMES THE FACE VALUE OF THE EQUITY SHARE.
The Equity Shares are proposed to be listed on the BSE Limited ("BSE") and
the National Stock Exchange of India Limited ("NSE") and the trading will
commence on or around May 31, 2012.
In terms of Rule 19(2)(b)(l) of the Securities Contracts Regulations Rules, 1957,
as amended ("SCRR"), this is an Issue for 25% of the post-Issue capital of the
Company. The Issue was made through the Book Building Process wherein not more than 50% of
the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers
("QIB"). 5% of the QIB Portion (excluding Anchor Investor Portion) will be
available for allocation on a proportionate basis to Mutual Funds only, and the remainder
of the QIB Portion will be available for allocation on a proportionate basis to all QIB
Bidders, including Mutual Funds, subject to valid Bids being received at or above the
Issue Price. Further, not less than 15% of the Issue will be available for allocation on a
proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue will
be available for allocation on a proportionate basis to Retail Individual Bidders, subject
to valid Bids being received at or above the Issue Price. For details, see the section
titled "Issue Procedure" on page 281 of the Prospectus.
The Issue received 3,622 applications for 28,627,000 equity shares resulting
in 2.44 times subscription. The details of the applications received in the Issue
from Retail Individual Bidders, Non-Institutional Bidders, Qualified Institutional Bidders
and Anchor Investors are as under (before technical rejections):
|
Category |
No. of Applications |
No. of equity shares |
No. of times subscription |
| A |
Retail Individual Bidders |
3,550 |
2,149,600 |
0.52 |
| B |
Non-Institutional Bidders |
47 |
3,859,360 |
2.19 |
| C |
Qualified Institutional Bidders |
20 |
19,237,280 |
4.68 |
| D |
Anchor Investors |
5 |
3,380,760 |
1.92 |
|
Total |
3,622 |
28,627,000 |
2.44 |
Final Demand
The final demand at different bid prices is as under:
| Bid Price |
No. of equity shares |
% to Total |
Cumulative total |
Cumulative % to total |
| 146 |
8,280 |
0.03 |
8,280 |
0.03 |
| 147 |
1,800 |
0.01 |
10,080 |
0.04 |
| 148 |
1,120 |
Negligible |
11,200 |
0.04 |
| 149 |
80 |
Negligible |
11,280 |
0.04 |
| 150 |
3,942,320 |
15.53 |
3,953,600 |
15.58 |
| 151 |
240 |
Negligible |
3,953,840 |
15.58 |
| 153 |
80 |
Negligible |
3,953,920 |
15.58 |
| 154 |
40 |
Negligible |
3,953,960 |
15.58 |
| 155 |
19,427,120 |
76.55 |
23,381,080 |
92.13 |
| Cut-off |
1,998,480 |
7.87 |
25,379,560 |
100.00 |
| TOTAL |
25,379,560 |
100.00 |
|
|
The Basis of Allocation was finalized in consultation with the Designated Stock
Exchange, being NSE on May 24, 2012.
A. Allocation to Retail Individual Bidders (After Technical Rejections)
The Basis of Allocation to the Retail Individual Bidders, who have bid at cut-off or
at the Issue Price of Rs. 150 per equity share, was finalized in consultation with NSE.
This category has been subscribed to the extent of 0.51 times. The
total number of equity shares allotted in Retail Individual Bidders category is 2,112,960
equity shares to 3,454 successful applicants. Under-subscription of 1,995,836
equity shares in the Retail portion has been spilled over to QIB and Non-Institutional
Bidders portion in the proportion of 50:15. The category-wise details (sample) of the
Basis of Allocation are as under:
| Category |
No. of
Applns. |
% to
total |
Total No. of
equity shares
applied |
% to
total |
No. of equity
shares
allocated
per applicant |
Ratio |
Total No. of
equity shares
allocated |
| 40 |
619 |
17.92 |
24,760 |
1.17 |
40 |
1:1 |
24,760 |
| 80 |
394 |
11.41 |
31,520 |
1.49 |
80 |
1:1 |
31,520 |
| 160 |
113 |
3.27 |
18,080 |
0.86 |
160 |
1:1 |
18,080 |
| 240 |
38 |
1.10 |
9,120 |
0.43 |
240 |
1:1 |
9,120 |
| 320 |
93 |
2.69 |
29,760 |
1.41 |
320 |
1:1 |
29,760 |
| 680 |
13 |
0.38 |
8,840 |
0.42 |
680 |
1:1 |
8,840 |
| 880 |
7 |
0.20 |
6,160 |
0.29 |
880 |
1:1 |
6,160 |
| 1,160 |
4 |
0.12 |
4,640 |
0.22 |
1,160 |
1:1 |
4,640 |
| 1,280 |
1,222 |
35.38 |
1,564,160 |
74.03 |
1,280 |
1:1 |
1,564,160 |
| 1,320 |
5 |
0.14 |
6,600 |
0.31 |
1.320 |
1:1 |
6,600 |
B. Allocation to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Bidders, who have bid at the Issue
Price of Rs. 150 per equity share, was finalized in consultation with NSE. This category
has been subscribed to the extent of 1.02 times. The total number of
equity shares allotted in this category is 2,221,490 equity shares
(including spill-over of 460,578 equity shares from Retail portion) to 46
successful applicants. The category-wise details (sample) of the Basis of Allocation are
as under:
| Category |
No. of
Applns. |
% to
total |
Total No. of
equity shares
applied |
% to
total |
No. of equity
shares
allocated
per applicant |
Ratio |
Total No. of
equity shares
allocated |
| 1,920 |
3 |
6.52 |
5,760 |
0.25 |
1,887 |
1:1 |
5,661 |
| 2,560 |
10 |
21.74 |
25,600 |
1.13 |
2,517 |
1:1 |
25,170 |
| 6,440 |
2 |
4.35 |
12,880 |
0.57 |
6,332 |
1:1 |
12,664 |
| 12,800 |
2 |
4.35 |
25,600 |
1.13 |
12,586 |
1:1 |
25,172 |
| 25,000 |
2 |
4.35 |
50,000 |
2.21 |
24,581 |
1:1 |
49,162 |
| 38,680 |
2 |
4.35 |
77,360 |
3.42 |
38,032 |
1:1 |
76,064 |
| 64,480 |
2 |
4.35 |
128,960 |
5.71 |
63,399 |
1:1 |
126,798 |
| 100,000 |
2 |
4.35 |
200,000 |
8.85 |
98,324 |
1:1 |
196,648 |
| 160,000 |
1 |
2.17 |
160,000 |
7.08 |
157,318 |
1:1 |
157,318 |
| 645,160 |
2 |
4.35 |
1,290,320 |
57.11 |
634,346 |
1:1 |
1,268,692 |
C. Allocation to QIBs (excluding Anchor Investors)
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As
per the SEBI ICDR Regulations, Mutual Funds were initially allocated 5% of the quantum of
equity shares available i.e. 282,203 equity shares (including spill-over
of 76,763 equity shares from Retail portion) and other QIBs were
allocated the remaining available equity shares i.e. 5,361,850 equity
shares (including spill-over of 1,458,495 equity shares from Retail
portion) on proportionate basis.
| Category |
Flls |
Banks |
MFs |
VCs |
Total |
| No. of equity shares |
1,228,669 |
364,995 |
3,685,394 |
364,995 |
5,644,053 |
D. Allocation to Anchor Investors
Allocation to Anchor Investors has been done on a proportionate basis in consultation
with the Book Running Lead Manager. As per the SEBI ICDR Regulations, 30% of QIB
reservation i.e. 1,760,912 equity shares was allotted to Anchor
Investors.
| Category |
MFs |
Flls |
Total |
| No. of equity shares |
1,056,546 |
704,366 |
1,760,912 |
The IPO Committee of the Board of Directors of our Company at its meeting held on May
24, 2012, has taken on record the basis of allocation of equity shares approved by the
Designated Stock Exchange, being NSE and has authorized the corporate action for the
allotment of the equity shares to various successful applicants.
The CAN-cum-Refund Advices and allotment advice and/ or notices have been dispatched to
the address of the investors as registered with the depositories. In case the same is not
received within ten days, investors may contact at the address given below. The Refund
Advices are accompanied with Demand Drafts which have been over-printed with the bank
account details as registered, if any, with the depositories. The equity shares allotted
to successful applicants are being credited to their beneficiary accounts subject to
validation of the account details with the depositories concerned. Our Company is taking
steps to get the equity shares admitted for trading on the NSE and BSE within 12 working
days of the closure of the Issue.
INVESTORS PLEASE NOTE
The details of the allocation made will be hosted on the website of Registrar to the
Issue, Link Intime India Private Limited at www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar
to the Issue quoting full name of the First/ Sole applicant, Serial number of the
bid-cum-application form, number of equity shares bid for, name of the Member of the
Syndicate, place where the bid was submitted and payment details at the address given
below:
Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound
L. B. S. Marg, Bhandup (West), Mumbai 400 078
Tel.: (91 22) 2596 7878 Fax: (91 22)25960329
Email ID: speciality.ipo@linkintime.co.in
Place: Mumbai
Date : May 28, 2012 |
For Speciality Restaurants Limited
Sd/-
V. S. Satyamoorthy
Company Secretary and Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER
THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF SPECIALITY
RESTAURANTS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective
meanings assigned to them in the Prospectus. Speciality Restaurants Limited (the
"Company") has filed the Prospectus with Registrar of Companies, West Bengal.
The Prospectus is available on the website of SEBI at www.sebi.gov.in
and on the website of Book Running Lead Manager at www.investmentbank.kotak.com.
Investors should note that investment in equity shares involves a high degree of risk and
for details relating to the same, see section titled 'Risk Factors' on page 13 of the
Prospectus. This document is not an offer of securities in the Unites States or elsewhere.
This document has been prepared for publication in India and is not for publication or
distribution, directly or indirectly, in or into the United States, Australia, Canada or
Japan. The equity shares of the Company are not being registered under the U. S.
Securities Act of 1933, as amended (the "U. S. Securities Act"), and may not be
offered or sold within the United States, except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the U. S. Securities Act and
applicable U. S. state securities laws. |