|Basis of Allotment|
THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
|RAJSHREE POLYPACK LIMITED|
|Corporate Identification Number: U25209MH2011PLC223089|
Our Company was originally formed as a partnership firm under the Partnership Act, 1932 ("Partnership Act") in the name of M/s Rajshree Industries, pursuant to a deed of partnership dated October 23, 2003. The name of M/s Rajshree Industries was changed to M/s Rajshree Polypack pursuant to a deed of re-constitution dated September 1, 2011. The said partnership was thereafter converted from a partnership firm to a private limited company under Part IX of the Companies Act, 1956 and registered with the Registrar of Companies, Mumbai with the name of "Rajshree Polypack Private Limited" on October 15, 2011. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our shareholders dated March 24, 2017 and the name of our Company was changed to "Rajshree Polypack Limited" to reflect the legal status of our Company pursuant to a fresh certificate of incorporation granted by the Registrar of Companies, Mumbai dated August 3, 2017. For further details of the change in name and registered office of our Company, please see chapter titled "History and Certain Corporate Matters" beginning on page 160 of the Prospectus.
|Registered Office: #503-504, 5th Floor, Lodha Supremus, Road No. 22, Kishan Nagar, Near New Passport Office, Wagle Estate, Thane (W) - 400604, Maharashtra, India.|
|Corporate Office: #212, 2nd Floor, Lodha Supremus, Road No. 22, Kishan Nagar, Near New Passport Office, Wagle Estate, Thane (W) - 400604, Maharashtra, India.|
|Tel. No.: +91 22 2581 8200 | Fax No.: +91 22 2581 8250 | Email: email@example.com | Website: www.rajshreepolypack.com|
|Contact Person: Mitali Rajendra Shah, Company Secretary and Compliance Officer|
|OUR PROMOTERS: RANSWAROOP RADHESHYAM THARD, NARESH RADHESHYAM THARD AND SAJJAN N. RUNGTA HUF|
|BASIS OF ALLOTMENT|
The Equity Shares issued through the Prospectus of the Company dated September 14, 2018, are proposed to be listed on the EMERGE platform of the National Stock Exchange of India Limited ("NSE EMERGE") and the trading will commence on September 24, 2018, subject to receipt of listing and trading approvals from the NSE EMERGE.
INITIAL PUBLIC OFFERING OF 29,60,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF RAJSHREE POLYPACK LIMITED ("COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 120 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 110 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS. 3,552.00 LAKHS (THE "ISSUE"). THE ISSUE INCLUDED A RESERVATION OF 1,48,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 120 PER EQUITY SHARE AGGREGATING TO RS. 177.60 LAKHS FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. 28,12,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 120 PER EQUITY SHARE, AGGREGATING TO RS. 3,374.40 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTED 26.35% AND 25.03% RESPECTIVELY, OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH. THE ISSUE PRICE IS RS. 120 PER EQUITY SHARE, WHICH IS 12 TIMES THE FACE VALUE OF THE EQUITY SHARE. THE PRICE BAND AND THE MINIMUM BID LOT WAS DECIDED BY THE COMPANY IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGER AND WAS ADVERTISED IN ALL EDITIONS OF BUSINESS STANDARD, AN ENGLISH DAILY NEWSPAPER, ALL EDITIONS OF BUSINESS STANDARD, A HINDI DAILY NEWSPAPER AND MUMBAI EDITION OF MUMBAI LAKSHADEEP, A MARATHI NEWSPAPER (MARATHI BEING THE LOCAL LANGUAGE OF MAHARASHTRA, WHERE OUR REGISTERED OFFICE IS SITUATED) EACH WITH WIDE CIRCULATION, AT LEAST FIVE (5) WORKING DAYS PRIOR TO THE BID/ ISSUE OPENING DATE AND WAS MADE AVAILABLE TO THE EMERGE PLATFORM OF NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE EMERGE") FOR THE PURPOSE OF UPLOADING ON ITS WEBSITE.
Risks to Investors:
|(i)||The Book Running Lead Manager associated with the Issue has handled NIL public issues in the past three years.|
|(ii)||There is one listed company in India in the rigid plastic packaging products sector with one or more business segments that maybe common to ours i.e. Mold Tek Packaging Limited.|
|(iii)||Average cost of acquisition of Equity Shares of our Promoters i.e. Ramswaroop Radheshyam Thard, Naresh Radheshyam Thard and Sajjan N. Rungta HUF is Rs.12.57, Rs.12.53 and Rs. 27.68, respectively.|
|BID / ISSUE PERIOD||OPENED ON: MONDAY, SEPTEMBER 10, 2018*|
|CLOSED ON: WEDNESDAY, SEPTEMBER 12, 2018|
* Anchor Investor Bid/lssue Period was one (1) Working Day prior to the Bid/lssue Opening Date, i.e., Friday, September 7, 2018.
In terms of Rule 19(2)(b)(i) of the SCRR this Issue has been made for at least 25% of the post-issue paid-up Equity Share capital of our Company. The Issue has been made through Book Building Process in accordance and compliance with Chapter XB and other applicable provisions of SEBIICDR Regulations wherein upto 49.96% of the Net Issue was allocated on a proportionate basis to QIBs, and our Company, in consultation with the Book Running Lead Manager have allocated upto 60% of the QIB Portion to Anchor Investor on a discretionary basis. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion (excluding Anchor Investor Portion) was 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 Net Issue was available for allocation on a proportionate basis to Non-lnstitutional Investors and not less than 35% of the Net Issue was available for allocation to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price. All investors (except Anchor Investors) participated in this Issue mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which were blocked by SCSBs. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process.
The Issue received 2,823 applications for 1,12,22,000 Equity Shares (before technical rejections, multiple rejections but after bids not banked, invalid duplicate, invalid multiple bids) including Anchor Investor application of 8,43,000 Equity Shares & Market Maker application of 1,48,000 Equity Shares. The Issue was subscribed 3.7912 times as per the applications received (before technical rejections, multiple rejections, but after bids not banked, invalid duplicate, invalid multiple bids). After considering the technical rejections, multiple rejections and after bids not banked, invalid duplicate, invalid multiple bids (including Market Maker application of 1,48,000 Equity Shares), the Issue was subscribed 3.7791 times.
The details of the applications received in the Issue (before technical rejections, multiple rejections, but after bids not banked, invalid duplicate, invalid multiple bids) from various categories are as under:
Detail of the applications received:
|Sr. No.||Category||No. of applications||No. of Equity Shares||Equity Shares reserved as per Prospectus||No. of times subscribed||Amount (in Rs. Lakhs)|
|1||Retail Individual Investors||2,751||27,51,000||9,85,000||2.7929||3,328.69|
|2||Non - Institutional Investors||68||54,17,000||4,22,000||12.8365||6,554.53|
|3||Qualified Institutional Buyers||2||20,63,000||5,72,000||3.6066||2,496.23|
A summary of the final demand as per NSE as on the Bid/lssue Closing Date at different Bid prices is as under:
|Sr. No.||Bid Price||Bids Quantity||% of Total||Cumulative Total||Cumulative % Total|
Allocation: The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE EMERGE on September 18, 2018.
1) Allotment to Retail Individual Investors (after technical rejections and multiple rejections)
The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at or above the Issue Price of Rs.120 per Equity Share, was finalized in consultation with NSE EMERGE. The category has been subscribed to the extent of 2.7614 times. The total number of Equity Shares Allotted in this category are 9,85,000 Equity Shares to 985 successful applicants. The details of the Basis of Allotment are as under:
|No. of Equity Shares applied for*||No. of applications received||% to total||Total no. of Equity Shares applied in the category||% to Total||No. of Equity Shares allotted per applicant||Ratio||Total no. of Equity Shares allotted||Surplus / (deficit)|
* Minimum and maximum application size for this category was 1,000 Equity Shares.
2) Allotment to Non Institutional Bidders (after technical rejections and multiple rejections)
The Basis of Allotment to the Non-lnstitutional Bidders, who have Bid at or above the Issue Price of Rs.120 per Equity Share, was finalized in consultation with NSE EMERGE. This category has been subscribed to the extent of 12.8246 times. The total number of Equity Shares Allotted in this category are 4,22,000 Equity Shares to 66 successful applicants. The category-wise details of the Basis of Allotment are as under:
|Sr. No.||No. of Equity Shares applied for (category wise)||No. of applications received||% to Total||Total no. of Equity Shares applied in each category||% to Total||No. of Equity Shares allotted per applicant||Ratio||Total no. of Equity Shares allotted||Surplus / (deficit)|
|20,000||1,000 additional Equity Shares are allocated for Sr. No. 11 in the ratio of 2:3||1,000||2:3||2,000||2,000|
|80,000||1,000 additional Equity Shares are allocated for Sr. No. 18 in the ratio of 1:2||1,000||1:2||1,000||1,000|
|82,000||1,000 additional Equity Shares are allocated for Sr. No. 19 in the ratio of 1:3||1,000||1:3||1,000||1,000|
|83,000||1,000 additional Equity Shares are allocated for Sr. No. 20 in the ratio of 1:3||1,000||1:3||1,000||1,000|
|247,000||1,000 additional Equity Shares are allocated for Sr. No. 25 in the ratio of 1:3||1,000||1:3||1,000||1,000|
3) Allotment to QIBs (excluding Anchor Investor Portion and after technical rejections and multiple rejections)
Allotment to QIBs, who have Bid at the Issue Price of Rs. 120 per Equity Share or above, has been done on a proportionate basis in consultation with NSE EMERGE. This category has been subscribed to the extent of 3.6066 times of the Net QIB portion (excluding Anchor Investor Portion). In compliance with SEBI ICDR Regulations, 5% of the Net QIB portion, i.e., 29,000 Equity Shares were reserved for Mutual Funds, however, no applications were received from any Mutual Fund and hence, 29,000 Equity Shares that were reserved for Mutual Funds were added to the Net QIB Portion. The total number of Equity Shares Allotted in the QIB category is 5,72,000 Equity Shares, which were Allotted to two (2) successful applicants. The details of the Basis of Allotment are as under:
|Sr. No.||No. of Equity Shares applied for (category wise)||No. of applications received||% to total||Total no. of Equity Shares applied in the category||% to Total||No. of Equity Shares allotted per applicant||Ratio||Total no. of Equity Shares allotted||Surplus / (deficit)|
QIB category wise details of allotment are as under:
4) Allotment to Anchor Investor
Our Company in consultation with the Book Running Lead Manager have allocated 8,33,000 Equity Shares to one (1) Anchor Investor at the Anchor Investor Issue Price of Rs. 120 per Equity Share in accordance with SEBI ICDR Regulations. The allocation represents 59.29% of the QIB portion.
5) Allotment to Market Maker (after technical rejections and multiple rejections)
The Basis of Allotment to the Market Maker, at the Issue Price of Rs.120 per Equity Share, was finalized in consultation with NSE EMERGE. The category has been subscribed to the extent of 1 time. The total number of Equity Shares Allotted in this category are 1,48,000 Equity Shares in full out of the reserved portion of 1,48,000 Equity Shares.
The members of the IPO Committee of our Company at its meeting held on September 19, 2018 have taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE Emerge and have allotted the Equity Shares to various successful applicants. The Allotment Advice cum funds unblocking intimation/ refund intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched/ e-mailed for unblocking of funds and transfer to the Public Issue Account on September 19, 2018. In case the same is not received, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on September 19, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of filing the final listing application with NSE EMERGE and is taking steps to get the Equity Shares of the Company admitted for listing and trading on the NSE EMERGE within six (6) Working Days from the Bid/lssue Closing Date.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 14, 2018 filed with the Registrar of Companies, Mumbai ("RoC").
INVESTORS PLEASE NOTE
The details of the allotment made have been hosted on the website of the Registrar to the Issue - i.e. LINK INTIME INDIA PRIVATE LIMITED at website: 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 Bidder, Serial number of the ASBA Form, number of Equity Shares Bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:
|LINK INTIME INDIA PRIVATE LIMITED|
|C-101,247 Park, L.B.S Marg, Vikhroli West,|
|Mumbai - 400 083, Maharashtra|
|Tel No.: +91 22 49186200; Fax No.: +91 22 49186195|
|E-mail: firstname.lastname@example.org; Website: www.linkintime.co.in|
|Investor Grievance E-mail: email@example.com|
|Contact Person: Shanti Gopalkrishnan; SEBI Registration No.: INR000004058|
|For RAJSHREE POLYPACK LIMITED|
|On Behalf of the Board of Directors|
|Place: Thane||Ramswaroop Radheshyam Thard|
|Date: September 19, 2018||Chairman & Managing Director|
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 RAJSHREE POLYPACK LIMITED.
Disclaimer clause of NSE EMERGE:
As required, a copy of the Offer Document has been submitted to National Stock Exchange of India Limited (hereinafter referred to as NSE). NSE has given vide its letter Ref.: NSE/LIST/83 dated May 4, 2018 permission to the Issuer to use the Exchange's name in the Offer Document as one of the stock exchanges on which this Issuer's securities are proposed to be listed. The Exchange has scrutinized the draft offer document for its limited internal purpose of deciding on the matter of granting the aforesaid permission to the Issuer. It is to be distinctly understood that the aforesaid permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the contents of the Offer Document; nor does it warrant that the Issuer's securities will be listed or will continue to be listed on NSE; nor does it take any responsibility for the financial or other soundness of the Issuer, its promoters, its management or any scheme or project of the Issuer.
It is to be distinctly understood that the permission given by NSE to use their network and software of the Online IPO system should not in any way be deemed or construed that the compliance with various statutory and other requirements by the Company, BRLM, etc. are cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements nor does it take any responsibility for the financial or other soundness of the Issuer, its Promoters, its management or any scheme or project of the Issuer.
Every person who desires to apply for or otherwise acquire any securities of the Issuer may do so pursuant to independent inquiry, investigation and analysis and shall not have any claim against NSE whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription /acquisition whether by reason of anything stated or omitted to be stated herein or any other reason whatsoever.
Rajshree Polypack Limited has made a public issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Mumbai. The Prospectus is available on the website of the Designated Stock Exchange i.e. www.nseindia.com/emerge, the website of the Book Running Lead Manager at www.plindia.com and the website of the Company at www.rajshreepolypack.com. Investors should note that investment in Equity Shares involves a high degree of risk. For details, investors should refer and rely on the Prospectus including the section titled "Risk Factors" beginning on page 20 of the Prospectus, which has been filed with the RoC.
This announcement has been prepared for publication in India and not to be released or distributed in the United States of America. This announcement is not an offer to sell or a solicitation of any offer to buy Equity Shares of our Company in any jurisdiction, including the United States of America. The Equity Shares offered in the Issue have not been and will not be registered under the U.S. Securities Act, 1933 ("U.S. Securities Act") or any state securities laws in the United States of America, and may not be offered or sold within the United States of America, except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.