Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE INDIA.)
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MARCO CABLES & CONDUCTORS LIMITED |
Corporate Identification Number: U27320MH1989PLC051376 |
Our Company was originally incorporated as a private limited under the name "Marco Cables Private Limited' under the provisions of Companies Act 1956 and Certificate of Incorporation was issued by the Registrar of Companies. Mumbai on April 13.1989. Subsequently, the name of our Company was changed to 'Marco Cables & Conductors Private Limited" vide Shareholders Resolution dated Apnl 25. 2023 with Certificate of Incorporation pursuant to change of name issued by Registrar of Companies. Mumbai dated May 22. 2023 Eventually, the status of our Company was changed to Public Limited and the name of our Company was changed to "Marco Cables & Conductors Limited' vide Special Resolution passed by the Shareholders at the Extra-Ordinary General Meeting of our Company held on May 25.2023. The fresh Certificate of Incorporation consequent to conversion was issued on June 19. 2023 by the Registrar of Companies. Mumbai. The Corporate Identification Number of our Company is U27320MH1989PLC051376. For further details on incorporation and registered office of our Company, see "History and Certain Corporate Matters" beginning on page 157 of the Prospectus.
Registered Office: Shop No 100. Opposite Bhai Gangaram Market. Main Road, Ulhasnagar, Thane - 421005, Maharashtra, India. |
Tel: 0251 2530332 E-mail: investors@hmtcabte.com Website: www.marcocables.com |
Contact Person: Ms. Priyanka Vinod Patil. Company Secretary and Compliance Officer |
PROMOTERS OF OUR COMPANY: MR. SUMIT SUGNOMAL KUKREJA, MR. SUGNOMAL MANGANDAS KUKREJA AND MS. KOMAL SUMIT KUKREJA |
"The Offer is being made in accordance with Chapter IX of the SEBI ICDR Regulations (IPO of Small and Medium Enterprises) and the equity shares are proposed to be listed on Emerge Platform of NSE''.
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 52,02,000 EQUITY SHARES OF FACE VALUE OF 710/- EACH ("EQUITY SHARES ') OF MARCO CABLES & CONDUCTORS LIMITED ("MARCO" OR "OUR COMPANY OR "THE ISSUER") FOR CASH AT A PRICE OF 736/- PER EQUITY SHARE (INCLUDING A PREMIUM OF 726/- PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO 71.872.72 LAKHS COMPRISING OF FRESH OFFER OF 26,01.000 EQUITY SHARES AGGREGATING TO 7936.36 LAKHS ("FRESH OFFER") AND AN OFFER FOR SALE OF 26,01.000 EQUITY SHARES BY MR. SUMIT SUGNOMAL KUKREJA ("SELUNG SHAREHOLDER") AGGREGATING TO 7936 36 LAKHS ("OFFER FOR SALE") ("THE OFFER") OF WHICH 2.88,000 EQUITY SHARES AGGREGATING TO 7103.68 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION I.E. NET OFFER OF 49.14,000 EQUITY SHARES OF FACE VALUE OF 710/- EACH AT AN OFFER PRICE OF 736/- PER EQUITY SHARE AGGREGATING TO 71,769.04 LAKHS ("NET OFFER"). THE OFFER AND THE NET OFFER WILL CONSTITUTE 27.82% AND 26.28% RESPECTIVELY OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO CHAPTER TITLED "TERMS OF THE OFFER BEGINNING ON PAGE 257 OF THE PROSPECTUS.
THE FACE VALUE OF THE EQUITY SHARE IS Rs.10/- AND THE OFFER PRICE IS 3.6 TIMES OF THE FACE VALUE |
OFFER OPENED ON: SEPTEMBER 21, 2023 AND OFFER CLOSED ON: SEPTEMBER 25, 2023 |
RISK TO INVESTORS |
1. Our Equity Shares have never been publicly traded, and may experience price and volume fluctuations following the completion of the Offer. Further, our Equity Shares may not result in an active or liquid market and the price of our Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Offer Price or at all
2. The average cost of acquisition of Equity Shares by our Promoters is set forth in the table below:
Sr. No. | Name of the Promoter/ Selling Shareholder |
No of Equity Shares held |
Average cost of Acquisition (in Rs. |
1 | Mr. Sumit Sugnomal Kukreja (Promoter & Selling Shareholder) |
1,07.53.000 |
1.73 |
2 | Mr. Sugnomal Mangandas Kukreia |
22.07,500 |
816 |
3 | Ms. Komal Sumit Kukreja |
11.92.500 |
5.06 |
Investors are required to refer section titled "Risk Factors" beginning on page 25 of the Prospectus.
Our Company has filed the Prospectus dated September 14. 2023 with the ROC, Mumbai. Maharashtra (the "Prospectus"). The Equity Shares of the Company are proposed to be listed on the SME Platform of National Stock Exchange of India Limited i.e. NSE Emerge, in terms of the Chapter IX of the SEBI (ICDR) Regulations. 2018 as amended from time to time. Our Company has received an In-Principle approval from NSE for the listing of the Equity Shares pursuant to letter dated September 14. 2023 NSE is the Designated Stock Exchange for the purpose of this Offer. The trading is to be commenced on September 28, 2023 (Subject to receipt of listing and trading approvals from the NSE).
The Offer is being made through the Fixed Prince process, the allocation in the Net Offer to the Public category is made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018. as amended from bme to bme. wherein a minimum of 50% of the Net Offer of shares to the Public is initially made available for allotment tc Retail Individual Investors. The balance of Net Offer of Shares to the public is made available for allotment to individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage Under subscription, if any, in any of the categories, would be allowed to be met witt spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designated Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All potential investors shal participate in the Offer only through an Application Supported by Blocked Amount ("ASBA'') process including through UP1 mode (as applicable) by providing details of the irrespective bank accounts and / or UPI IDs. in case of Rlls. if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBS") for the same.
Category | Before Technical Rejections & Withdrawals |
After Technical Rejections & Withdrawals |
||
No. of Applications |
No. of Equity Shares |
No. of Applications |
No. of Equity Shares |
|
Retail Individual Investors | 28,8851 |
8.66,55,000 |
28,441 |
8,53,23.000 |
Other than Retail Individual Investors | 2.966 |
5.83.29.000 |
2,927 |
5,80,32,000 |
Total | 31.851 |
14.49,84.000 |
31.368 |
14,33.55.000 |
Note:
1 The Net Offer does not include 2,88,000 Equity Shares reserved for Market Maker, which was subscribed by 1 00 time 2. There were 483 Technical Rejections for 16,29,000 Equity Shares & no withdrawal of any application in any category.
The shares available for allotment have been arrived in the equal proportion of the respective oversubscription ratio of Retail Individual Investors and Other than Retail Individual Investors category. In view of the explanation provided under regulations 253 (2) of the SEBI (ICDR) Regulations, 2018, the Retail Individual Investors Category has applied for 59 52% of the Net Offer and 40.48% of the Net Offer by Other than Retail Individual Investors; accordingly, we have derived the offer size for different categories In other than Retail Individual Investor Category, there was oversubscription of 5.58,72,000 Equity Shares before technical rejection and 5,55,75,000 Equity Shares after technical refection. In Retail Individual Investors Category there was over subscription of 8.41,98.000 Equity Shares before technical rejection and 8.28,66,000 Equity Shares after technical rejection.The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE on September 26, 2023.
A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Offer Price of per Equity Share was finalised in consultation with NSE. The category was subscnbed by 1.00 time. The total number of shares allotted in this category is 2,88.000 Equity Shares The category-wise details of the Basis of Allotment are as under.
No. of Shares Applied for | No. of Applications Received |
% to Total |
Total No. of Shares Applied |
% to Total |
Allocation per Applicant |
Ratio ol Allottees to the Applicant |
Total No. of Shares Allotted |
1 2.88.000 | 1 |
100 |
2.88.000 |
100 |
2.88.000 |
1:1 |
2.88.000 |
B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Offer Price of *36/- per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018, the total number of shares allotted in this category is 29,25.000 Equity Shares The category was subscnbed by 29.17 times. The category-wise details of the Basis of Allotment are as under:
No. of Shares Applied for | No. of Applications Received |
% to Total |
Total No. of Shares Applied |
% to Total |
Allocation per Applicant |
Ratio ol Allottees to the Applicant |
Total No. of Shares Allotted |
[ 3.000 | 28.441 |
100 |
8.53.23.000 |
I 100 |
3,000 |
6:175 |
29.25.000 |
C) Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non-Retail Investors, at the Offer Price of Rs.36/- per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICOR) Regulations. 2018, the total number of shares allotted in this category is 19.89,000 Equity Shares. The category was subscnbed by 29.17 times. The category-wise details of the Basis of Allotment are as under:
No. of Shares applied for (Category Wise) | Number of applications received |
%to Total |
Total No. ol Shares applied in each category |
% to Total |
Allocation Per Applicant |
Ratio of allottees to applicants |
Total No. of Shares allocated/ allotted |
6.000 | 2.105 |
71.92 |
1.26.30,000 |
21.76 |
3,000 |
34:497 |
4,32,000 |
9.000 | 186 |
6.35 |
16.74,000 |
2.88 |
3,000 |
19:186 |
57.000 |
12.000 | 133 |
4 54 |
15.96,000 |
I 2.75 |
3,000 |
18:133 |
54.000 |
15.000 | 89 |
3 04 |
13.35,000 |
2.30 |
3,000 |
15:89 |
45,000 |
18,000 | 17 |
058 |
3.06,000 |
0,53 |
3,000 |
4:17 |
12,000 |
27,000 | 36 |
1 23 |
9.72,000 |
1.67 |
3,000 |
11:36 |
33.000 |
30,000 | 120 |
4.10 |
36,00,000 |
6.20 |
3,000 |
41:120 |
1,23,000 |
33,000 | 14 |
0.48 |
4.62,000 |
0.80 |
Jooo |
5:14 |
15,000 |
36.000 | 18 |
0.62 |
6.48,000 |
1.12 |
3,000 |
7:18 |
21,000 |
39,000 | 9 |
0.31 |
3.51,000 |
0.60 |
3,000 |
4:9 |
12.000 |
45.000 | 15 |
0.51 |
6.75,000 |
I 1.16 |
3,000 |
8:15 |
24,000 |
I 48.000 | 7 |
0.24 |
3,36,000 |
0.58 |
3,000 |
4:7 |
12.000 |
54,000 | 12 |
041 |
6.48,000 |
1 1.12 |
3,000 |
7:12 |
21.000 |
57,000 | 14 |
0 48 |
7.98,000 |
1.38 |
3,000 |
9:14 |
27,000 |
The Board of Directors of the Company at its meeting held on September 26, 2023, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz, NSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants The CAN and allotment advice and'' or notices shall be dispatched to the address of the investors as registered with the depositories on or before September 27, 2023. Further, the instructions to Self-Certified Syndicate Banks have been processed on September 26, 2023 for unblocking of funds 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. In case the same is not received within prescnbed time, investors may contact the Registrar to the Offer at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the Emerge Platform of NSE within 3 working days from the Closure of the Offer The trading is proposed to be commenced on September 28 2023 subject to receipt ot listing and trading approvals from NSE
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 14,2023 ("Prospectus" i
INVESTORS,PLEASE NOTE |
The details of the allotment made has been hosted on the website of the Registrar to the Offer. Bigshare Services Pnvate Limited at www.bigshareonlme.com.
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/Sole Applicant. Serial number of the Application Form. Number of Shares Applied for and Bank Branch where the Application had been lodged and payment details at the address given below:
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BIGSHARE SERVICES PRIVATE LIMITED |
Office No. S6-2,6th Floor. Pinnacle Business Park. Next to Ahura Centre. | |
Mahakali Caves Road. Andheri East. Mumbai - 400 093. Maharashtra. India. | |
Telephone: 022 - 6263 8200 | E-mail: ipo@higshareonlme.com | |
Investor grievance E-mail: investor@bigshareonline.com | |
Website: www.bigsharesonline.com | |
Contact Person: Mr Asif Sayyed | |
SEBI Registration No.: INR000001385 |
For MARCO CABLES & CONDUCTORS LIMITED |
|
On Behalf of the Board of Directors |
|
Sd/- |
|
Mr. Sumit Sugnomal Kukreja |
|
Place: Mumbai | Designation: Chairman and Managing Director |
Date: September 27, 2023 | DIN:00254625 |
LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF MARCO CABLES & CONDUCTORS LIMITED.
MARCO CABLES & CONDUCTORS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations.^ make a Public Offer of its Equity Shares and has filed Prospectus with the Registrar of Companies, Mumbai. Maharashtra on September 14, 2023. The Prospectus is available on websites of the Company, the NSE and the Lead Manager at www.marcocables.com,www.nsemdia.com,www.shreni.in respectively. Applicants should note that investment in equity shares involves a high-risk and for details relating to the same, see the Prospectus, including section titled "Risk Factors" beginning on page 25 of the Prospectus
The Equity Shares have not been and will not be registered under the U.S.Securities Act of 1933, as amended (the "US.Securities Act and applicable U.S. state! securities lav/. Accordingly, the Equity Shares are offered or sold (i) within the United States to persons reasonably believed to be qualified institutional investors (aJ defined in Rule 144A under the U.S.Securities Act and (ii) Outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities acfl and applicable laws of the jurisdiction where such offers and sales occur.
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