Basis of Allotment

New Page 1

(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSE AND NOT A PROSPECTUS ANNOUNCEMENT.)

SHRI RAM SWITCHGEARS LIMITED
CIN No.: U31200MP1985PLC003026

Our Company was incorporated as Shri Ram Switchgears Private Limited under tne provisions of the Companies Act, 1956 vide certificate of incorporation dated September 06, 1985 in Madhya Pradesh. Subsequently, the name of the company was changed to Shri Ram Switchgears Limited pursuant to conversion into a public company vide Shareholders' approval on December 14, 2016 and fresh certificate of incorporation dated January 03, 2017. For details of change in registered office of our Company please refer to chapter titled "Our History and Certain Other Corporate Matters" beginning on page 136 of the Prospectus.

Registered Office : Shri Ram Bhawan, Goushala Road, Ratlam, Madhya Pradesh - 457001, India; Tel No.: +91 7412 235554; Fax No.: +91 7412 231095;
E-mail: info@shriramswitchgears.com; Website: www.shriramswitchgears.com
Contact Person: Mr. Naresh Kumar Jhalani, Chief Financial Officer

PROMOTERS OF THE COMPANY: MR. NILESH KUMAR JHALANI, MR. ROHlT KUMAR JHALANI AND MR. DEVRAJ JHALANI 

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 26,70,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FULLY PAID UP OF SHRI RAM SWITCHGEARS LIMITED ("SRIRAM" OR "SRSL" OR THE "COMPANY" OR THE ISSUER") FOR CASH AT A PRICE OF RS. 19 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING SHARE PREMIUM OF RS. 9 PER EQUITY SHARE) AGGREGATING RS. 507.30 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 1,38,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FULLY PAID UP WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 25,32,000 EQUITY SHARES QF FACE VALUE OF RS 10 EACH FULLY PAID UP 1S HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.67% AND 25.29% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPTTAL OF THE COMPANY
THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBl (ICDR) REGULATIONS. 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION- BEGINNING ON PAGE 238 OF THE PROSPECTUS.

THE FACE VALUE Of THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 19 THE ISSUE PRICE IS 1.90 TIMES THE FACE VALUE,
ISSUE OPENED ON: MAY 25, 2017 AND ISSUE CLOSED ON: MAY 30, 2017

PROPOSED LISTING: WEDNESDAY, JUNE 07, 2017*

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). In terms of the Chapter XB of the SEBI \(ICDR) Regulations, 2009, as amended from time to time. The Company has received an in-principie approval letter dated February 09, 2017 from NSE for using its name in the offer document for listing of its shares on nse Emerge Platform,

For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Wednesday, June 07, 2017.*

*Subject to receipt of listing and trading approvals from the- National Stock Exchange of India Limned.

All Applicants participated in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process bv providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Cerified Syndicate Banks (the "SCSBs")

.SUBSCRIPTION DETAILS

This issue has received 18,820 applications for 18,36,84,000 equity shares resulting in 68.79 times subcription (including reserved portion of market maker). The details of the application received in the issue (before technical rejections ) are as follows:

Details of the Application Received (Before technical Rejections):

Category No. of
Applications
% No. of
Equity Shares
% Subscription
(Tines)
Market Maker 1 0.01 138000 0.07 1.00
Retail individual Investors 18624 98.95 111744000 60.84 88.26
Other than Retail Individual Investors 195 1.04 71802000 39.09 56.72
TOTAL 18820 100.00 183684000 100.00 68.79

The details of applications rejected by the Registrar on technical grounds are detailed below: (Technical rejection)

Category No. of
Applications
No. of
Equity Shares
Market Maker Nil Nil
Retail individual Investors 256 1536000
Other than Retail Individual Investors 7 1770000
TOTAL 263 3306000

After eliminating technically rejected applications, the following tables give us Category wise net valid applications:

Category

Number of
Applications
% Issue Size
(as per Prospectus)
Proportionate
issue Size
(After rounding off)
No. of Valid
Shares applied
Subscription
(Times)
Market Maker 1 0.01 138000 138000 138000 1.00
Retail *individual Investors 18368 98.98 1266000 1548000 110208000 87.05
Other than Retail Individual Investors 188 1.01 1266000 984000 70032000 55.32
TOTAL 18557 100.00 2670000 2670000 180378000 67.56

*As per regulation 43(4) of SEBl (ICDR) retail Individual Investor category is entitled to more than fifty percent on proportionate basis, the retail individual Investors shall be allocated that higher percentage.

Allocation: The Basis of Allotment was finalized in consultation with the Designated stock Exchange - ?National Stock Exchange of india limited on June 02,2017.

A. Allocation to Market Maker (After Technical Rejections); The Basis of Allotment to the Market Maker, at the issue price of Rs.19 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,38,000 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 19 per Equity share, was finalized in consultation with NSE. The category was subscribed by 87.05 times. The total number of shares allotted in this category is 1548000 Equity Shares to 258 successful applicants. The category wise details of the Basis of Allotment are as under:

No. of Shares
Applied for
(Category wise)
No of
Applications received
% to Total Total No. of Equity
Shares applied in this category
% of Total Proportionate Shares Available Allocation per Applicant (Before rounding off) Allocation per Applicant (After rounding off) Ratio of Allottees
to Applicants
Ration 1
Ratio of Allottees
to Applicants
Ratio 2
Number of Successful
applicants (after
rounding off)
Total No. of Equity|
Shares allocated/
allotted*
No. of Shares
Surplus/ Deficit
6000 18368 100.00 110208000 100.00 1548000 84.23 6000 258 18363 258 1548000 0
Total 18368 100.00 110208000 100.00 1548000 258 1548000 0

C. Allocation to other than Retail Individual Investors (After Technical Rejections); The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 19 per Equity share, was finalized in consultation with NSE. The category was subscribed 55.32 times. The total number of shares allotted in this category is 984000 Equity sahres to 69 successful applicants. The category wise details of the Basis of Allotment are as under:

No. of Shares
Applied for
(Category wise)
No of
Applications received
% to Total Total No. of Equity
Shares applied in this category
% of Total Proportionate Shares Available Allocation per Applicant (Before rounding off) Allocation per Applicant (After rounding off) Ratio of Allottees
to Applicants
Ration 1
Ratio of Allottees
to Applicants
Ratio 2
Number of Successful
applicants (after
rounding off)
Total No. of Equity|
Shares allocated/
allotted*
No. of Shares
Surplus/ Deficit
12000 47 25.00 564000 0.81 7925 168.61 6000 1 47 1 6000 -1925
18000 12 6.38 216000 0.31 3035 252.91 6000 1 12 1 6000 2965
24000 8 4.26 192000 0.27 2698 337.22 0 0 0 0 0 -2698
30000 8 4.26 240000 0.34 3372 421.52 6000 1 8 1 6000 2626
36000 7 3.72 252000 0.36 3541 505.83 6000 1 7 1 6000 2459
42000 4 2.13 168000 0.24 2361 590.13 0 0 0 0 0 -2361
48000 10 2.32 480000 0.69 6744 674.43 6000 1 10 1 6000 -744
54000 7 3.72 378000 0.54 5311 758.74 6000 1 7 1 6000 689
60000 2 1.06 120000 0.17 1686 843.04 0 0 0 0 0 -1686
66000 2 1.06 132000 0.19 1855 927.35 0 0 0 0 0 -1855
72000 1 0.53 72000 0.10 1012 1011.65 0 0 0 0 0 -1012
84000 2 1.06 168000 0.24 2361 1180.26 0 0 0 0 0 -2361
96000 1 0.53 96000 0.14 1349 1348.87 0 0 0 0 0 -1349
102000 1 0.53 102000 0.15 1433 1433.17 0 0 0 0 0 -1433
108000 1 0.53 108000 0.15 1517 1517.48 0 0 0 0 0 -1517
114000 1 0.53 114000 0.16 1602 1601.78 0 0 0 0 0 -1602
120000 2 1.06 240000 0.34 3372 1686.09 6000 1 2 1 6000 2628
126000 1 0.53 126000 0.18 1770 1770.39 0 0 0 0 0 -1770
132000 3 1.60 396000 0.57 5564 1854.69 6000 1 3 1 6000 436
138000 2 1.06 276000 0.39 3878 1939.00 6000 1 2 1 6000 2122
144000 2 1.06 288000 0.41 4047 2023.30 6000 1 2 1 6000 1953
162000 1 0.53 162000 0.23 2276 2276.22 0 0 0 0 0 -2276
168000 1 0.53 168000 0.24 2361 2360.52 0 0 0 0 0 -2361
174000 1 0.53 174000 0.25 2445 2444.83 0 0 0 0 0 -2445
192000 1 0.53 192000 0.27 2698 2697.74 6000 1 1 1 6000 3302
210000 2 1.06 420000 0.60 5901 2950.65 6000 1 2 1 6000 99
216000 1 0.53 216000 0.31 3035 3034.96 6000 1 1 1 6000 2965
240000 3 1.60 720000 1.03 10117 3372.17 6000 2 3 2 12000 1883
246000 1 0.53 246000 0.35 3456 3456.48 6000 1 1 1 6000 2544
258000 1 0.53 258000 0.37 3625 3625.09 6000 1 1 1 6000 2375
264000 1 0.53 264000 0.38 3709 3709.39 6000 1 1 1 6000 2291
270000 1 0.53 270000 0.39 3794 3793.69 6000 1 1 1 6000 2206
282000 1 0.53 282000 0.40 3962 3962.30 6000 1 1 1 6000 2038
294000 1 0.53 294000 0.42 4131 4130.91 6000 1 1 1 6000 1689
360000 1 0.53 360000 5.51 5058 5058.26 6000 1 1 1 6000 942
366000 3 1.60 198000 1.57 15428 5142.56 6000 1 1 3 18000 2572
372000 1 0.53 372000 0.53 5227 5226.87 6000 1 1 1 6000 773
384000 1 0.53 384000 0.55 5395 5395.48 6000 1 1 1 6000 605
390000 1 0.53 390000 0.56 5480 5479.78 6000 1 1 1 6000 520
396000 1 0.53 396000 0.57 5564 5564.08 6000 1 1 1 6000: 436
414000 1 0.53 414000 0.59 5817 5817.00 6000 1 1 1 6000 183
420000 1 0.53 420000 0.60 5901 5901.30 6000 1 1 1 6000 99
432000 1 0.53 432000 0.62 6070 6069.91 6000 1 1 1 6000 -70
474000 1 0.53 474000 0.68 6660 6660.04 6000 1 1 1 6000 -660
522000 1 0.53 522000 0.75 7334 7334.48 6000 1 1 1 6000 -1334
528000 4 2.13 2112000 3.02 29675 7418.78 6000 1 1 4 24000 -5675
582000 1 0.53 582000 0.83 8178 8177.52 6000 1 1 1 6000 -2178
600000 1 0.53 600000 0.86 8430 8430.43 6000 1 1 1 6000 -2430
630000 1 0.53 630000 0.90 8852 8851.95 6000 1 1 1 6000 -2852
738000 1 0.53 738000 1.05 10369 10369.43 12000 1 1 1 12000 1631
786000 2 1.06 1572000 2.24 22088 11043.87 12000 1 1 2 24000 1912
894000 1 0.53 894000 1.28 12561 12561.34 12000 1 1 1 12000 -561
930000 1 0.53 930000 1.33 13067 13057.17 12000 1 1 1 12000 -1067
972000 1 0.53 972000 1.39 13657 13657.30 12000 1 1 1 12000 -1657
1050000 1 0.53 1050000 1.50 14753 14753.26 12000 1 1 1 12000 -2753
1152000 1 0.53 1152000 1.64 16186 16186.43 18000 1 1 1 18000 1814
1200000 1 0.53 1200000 1.71 16861 16860.86 18000 1 1 1 18000 1139
1266000 1 0.53 1266000 1.81 I7788 17788.21 18000 1 1 1 18000 212
1392000 1 0.53 1392000 1.99 19559 19558 60 18000 1 1 1 18000 -1559
1500000 1 0.53 1500000 2.14 21076 21076.08 24000 1 1 1 24000 2924
1806000 1 0.53 1806000 2.58 25376 25375.60 24000 1 1 1 24000 -1376
2532000 15 7.98 37980000 54.21 533647 35576.42 30000 1 1 15 450000 -83646
2532000 6000 14 15 84000 83999
TOTAL 188 100.00 70032000 100.00 984000 69 984000 0

* Please Note: Additional lot of 6000 Shares given in applied Shares category 2532000 after proportionate allocation

* In category 24000, 42000, 60000, 66000, 72000, 84000. 96000. 102000, 108000. 114000, 126000, 162000. 168000 & 174000 entitlement was less than minimum allotment lot, hence no shares were allotted in these categories

The Board of Directors of the Company at its meeting held on June 02, 2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Slock Exchange of India Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The CAN and allotment advice and/or notices will be dlspatcned to the address of the Applicants as registered with the depositories on or before June 05, 2017. Further, the instructions to Sell Certified Syndicate Banks for unblocking, the amount are being processed on or prior to June 05, 2017. In case the same is not received within four working days, investors may contact Registrar at the address given below. 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. The Company is taking step to get the Equity Shares admitted for trading on NSE Emerge Platform within six working days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated May 11, 2017 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue, BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.com. All future correspondencein this regard may kindaly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Applicalion Form, number of shares applied for and Bank Branch where the applicalion had been lodged and payment details at the address of the Registrar given below:

BIGSHARE SERVICES PRIVATE LIMITED
E-2, Ansa Industrial Estate, Sakhivihar Road, Sakinaka, Andheri (East). Mumbai - 400 072.
Tel: +91 -22-40430200 ; Fax: +91 -22- 28475207: Website: www.bigshareonline.com; Email: ipo@bigshareonline.com
Contact Person: Mr Srinivas Dornala; SEBl Registration No.: INR000001385

Place : Ratlam, MP
Date : June 03, 2017
SHRI RAM SWITCHGEARS LIMITED
On behalf of the Board of Directors
sd/-
Managing Director

THE 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 OT THE SHRI RAM SWITCHGEARS LIMITED.

Close