|Basis of Allotment|
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSE. THIS IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES. NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.)
SUPREME ENGINEERING LIMITED
|Corporate Identification Number: U99999MH1987PLC043205|
Our Company was originally incorporated as a private limited company, at Maharashtra, India under the Companies Act, 1956 in the name of Supreme Heatreaters Private Limited vide Certificate of Incorporation dated April 20, 1987. Subsequently, fresh certificate of incorporation consequent upon change of name from Supreme Heatreaters Private Limited to Supreme Engineering Private Limited dated January 9, 2018 was issued by RoC, Mumbai. Further, pursuant to conversion of our Company to a public limited company, a fresh certificate of incorporation was issued by Registrar of Companies, Mumbai on January 10, 2018. For details of changes in name and registered offices of our Company. For details of changes in name and registered offices of our Company, please refer to the section titled "History and Certain Corporate matters" beginning on page 131 of the Prospectus.
|Registered Office: R-223, M.I.D.C. Complex, Rabale, Thane Belapur Road, Navi Mumbai - 400 701, Maharashtra, India|
|Tel No:.+91 22 2769 2232 | Fax No.: +91 22 2769 0341 | Email: firstname.lastname@example.org | Website: www.supremesteels.com|
|Contact Person: Mrs. Krupali Thakkar, Company Secretary and Compliance Officer|
|PROMOTERS OF OUR COMPANY: MR. SANJAY CHOWDHRI, SANJAY CHOWDHRI HUF AND MRS. LALITA CHOWDHRI|
|BASIS OF ALLOTMENT|
PUBLIC ISSUE CONSISTING OF FRESH ISSUE OF 65,76,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FULLY PAID ("FRESH ISSUE") AND OFFER FOR SALE OF UPTO 8,000 EQUITY SHARES BY MRS. LALITA CHOWDHRI ("OFFER FOR SALE") FOR CASH AT A PRICE OFRs. 27 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 17 PER EQUITY SHARE) (THE "ISSUE PRICE") AGGREGATING UP TO Rs. 1777.68 LAKHS (THE "ISSUE"), OF WHICH 3,32,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 27 PER EQUITY SHARE, AGGREGATING Rs. 89.64 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 62,52,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 27 PER EQUITY SHARE, AGGREGATING Rs. 1688.04 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.31% AND 25.01% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
|THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10 EACH AND|
|THE ISSUE PRICE OF Rs. 27 IS 2.7 TIMES THE FACE VALUE OF THE EQUITY SHARES|
|ISSUE OPENED ON: FRIDAY, AUGUST 24, 2018 AND CLOSED ON: WEDNESDAY, AUGUST 29, 2018.|
|RISKS TO INVESTORS|
As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Mr. Sanjay Chowdhri is 13.70, Sanjay Chowdhri HUF is Rs. 4.02 and Mrs. Lalita Chowdhri is Rs. 2.94.
This being the first public issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Floor Price was 2.7 times the face value and the Cap Price was 3.2 times the face value. The Issue Price (determined and justified by our Company & Selling Shareholder in consultation with the BRLM) as stated in "Basis of Issue Price" on Page no. 76 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the equity shares or regarding the price at which the Equity Shares will be traded after listing. All investors have participated in this issue through AS BA Process. For details in this regard, specific attention is invited to "Issue Procedure" on page 216 of the Prospectus.
In terms of Prospectus dated August 30, 2018 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009, the allocation in the net issue to public shall be as follows:
Minimum fifty percent to retail individual investors; and b) Remaining to:
individual applicants other than retail individual investors; and
Other investors including corporates or institutions, irrespective of the number of specified securities applied for.
The unsubscribed portion in either of the categories specified in (a) or (b) above may be allocated to the applicants in the other category. For the purpose of Regulation 43(4), if the retail individual investor category is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated at a higher percentage. All Investors have participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 216 of the Prospectus.
LISTING: The Equity Shares offered through the Prospectus are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE") in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, our Company has received in-principle approval letter dated August 10,2018 from National Stock Exchange of India Limited for using its name in the Offer Document for listing of our Shares on NSE EMERGE. The designated stock exchange is NSE.SUBSCRIPTION DETAILS
The Issue has received 865 applications for 83,84,000 Equity shares (Before Technical Rejections, multiple rejections, bids not banked and invalid duplicate bids) including Market maker application of 3,32,000 Equity Shares. 791 applications for 68,28,000 Equity shares (Before Technical Rejections but after bids not banked and invalid multiple/ duplicate bids) including Market Maker Portion, resulted in 1.04 times subscription. After considering, Technical Rejection cases and Invalid multiple rejections, the issue was subscribed 1.02 times (including the Market Maker Portion).
The details of application received (Before Technical Rejection but after bids not banked and invalid duplicate bids)
|CATEGORY||NUMBER OF APPLICATIONS||NUMBER OF EQUITY SHARES||SUBSCRIPTION|
|Other than Retail Individual Investors||60||35,76,000||1.14|
|Retail Individual Investors||730||29,20,000||0.93|
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
|CATEGORY||NUMBER OF APPLICATIONS||NUMBER OF EQUITY SHARES|
|Other than Retail Individual Investors||3||28,000|
|Retail Individual Investors||15||60,000|
After eliminating technically rejected applications, the following tables give us category wise valid applications:
|CATEGORY||NUMBER OF APPLICATIONS||NUMBER OF EQUITY SHARES||SUBSCRIPTION|
|Other than Retail Individual Investors||57||35,48,000||1.045|
|Retail Individual Investors||715||28,60,000||0.914|
|Sr. No.||Bid Price (Rs.)||No. of Equity Shares Bid for||% of Total||Cumulative Total||% Cumulative Total|
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on September 03, 2018.
|A.||Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 27 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1 times. The total number of shares allotted in this category is 3,32,000 Equity shares in full out of reserved portion of 3,32,000 Equity Shares.|
|B.||Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs. 27 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.914 times. Total number of shares allotted in this category is 2860000 Equity Shares. The category wise basis of allotment is as under:|
|No. of Shares Applied for (Category wise)||No. of Applications received||% to total||Total No. of Equity Shares applied||% of total||Proportionate Shares Available||Allocation per Applicant (Before Rounding Off)||Allocation per Applicant (After Rounding Off)||Ratio of Allottees to the Applicants||Total No. of Equity Shares allotted||Surplus/ (Deficit)|
* The undersubscribed portion of 268,000 Equity Shares from the Retail Investors Category have been spilled over to the Other than Retail Individual Investors Category.
|C.||Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs. 27 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.045 times. Total number of shares allotted in this category is 3392000 Equity Shares. The category wise basis of allotment is as under:|
|No. of Shares applied for (Category wise)||Number of applications received||% to total||Total No. of Shares applied in each category||% to total||Proportionate shares available||"Allocation per applicant (Before Rounding off)"||"Allocation per applicant (After Rounding off)"||Ration of allottees to applicants||Total No. of shares allocated/ alloted||"Surplus/ Deficit (14)-(7)"|
* Includes original reservation portion of 31,24,000 Equity Shares and spill over from the Retail Individual Investors Category of 2,68,000.
The Board of Directors of the Company at its meeting held on September 03, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before September 05, 2018. Further, the instructions to SCSBs shall be issued on September 04, 2018 for unblocking of funds. The Equity Shares allocated 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 prescribed time, Investors may contact the registrar to the Issue 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 six working days from the date of the closure of the Issue. The trading is proposed to commence on or before September 06, 2018 subject to receipt of listing and trading approvals from NSE.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar 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 of the Registrar given below:
|BIGSHARE SERVICES PRIVATE LIMITED|
|1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road Marol, Andheri (East), Mumbai 400059, India|
|Tel.: 022 6263 8200 | Fax: 022 6263 8299 | Email: email@example.com | Website: www.bigshareonline.com|
|Contact Person: Babu Rapheal | SEBI Registration No: INR000001385|
|For Supreme Engineering Limited|
|On behalf of the Board of Directors|
|Date: September 04, 2018||Krupali Thakkar|
|Place: Navi Mumbai, Maharashtra||Company Secretary & 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 SUPREME ENGINEERING LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.