|Basis of Allotment|
is only an advertisement for information purposes and not a Prospectus announcement)
SUMIT WOODS LIMITED
Our Company was originally incorporated as "Sumit Woods Private Limited" at Goa on January 09,1997 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Goa, Daman and Diu at Panaji, Goa. The Registered Office of the Company was thereafter shifted to Mumbai with effect from March 24, 2005. Subsequently, the name of our company was changed to "Sumit Woods Limited" on February 06, 2018 and a fresh Certificate of Incorporation consequent upon change of name was issued by the Registrar of Companies, Mumbai.
Registered Office: B-Wing, Office No-1101, Opp.
Reliance Office, Express Zone, W. E. Highway, Malad (East), Mumbai-400 097.
PROMOTERS OF OUR COMPANY: MR. MITARAM JANGID, MR. SUBODH
NEMLEKAR, MR. BHUSHAN NEMLEKAR,
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 40,53,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH OF SUMIT WOODS LIMITED ("SUMIT" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 45 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 35 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS.1823.85 LAKHS (THE "ISSUE"). THE ISSUE COMPRISES OF 2,19,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 45 PER EQUITY SHARE, AGGREGATING TO Rs. 98.55 LAKHS 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 38,34,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH FOR CASH AT A PRICE OF Rs.45 PER EQUITY SHARE, AGGREGATING UP TO Rs. 1725.30 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.50% AND 25.07% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
The Issue is being made through the Book Building Process wherein:
a) Atleast 35.05% of the Net Issue shall be allocated to retail individual investors; b) Atleast 34.97% of the Net Issue shall be allocated to non-institutional investors; and c) Not more than 29.97% of the Net Issue shall be allocated to qualified institutional buyers:
All investors had participated in this Issue mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which was blocked by SCSBs.
ISSUE PRICE: Rs. 45 PER EQUITY SHARE
ISSUE OPENED ON WEDNESDAY, AUGUST 29, 2018
The Equity Shares offered through Red Herring Prospectus are proposed to be listed on the NSE EMERGE. Our Company has received an in-principle approval letter dated July 09, 2018 from NSE for using its name in the offer document for listing of our Equity Shares on the NSE EMERGE. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Ltd. ("NSE").
All Applicants participated in this Issue through Applications Supported By Blocked Amount ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").
The Issue has received 1067 applications for 22,932,000 Equity Shares resulting in 5.65
times subscription (including reserved portion of Market Maker). The details of the
applications received in the Issue (before technical rejections) are as follows:
The details of applications rejected by the Registrar on technical grounds / withdrawal are detailed below:
Technical rejection / Withdrawal
After eliminating Technically Rejected applications, the following table gives the details of Category wise net valid applications:
After Technical Rejection
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - NSE on September 05, 2018.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 45/- 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 2,19,000 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.45/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 2.23 times. The total number of shares allotted in this category is 13,44,000 Equity Shares to 448 successful applicants. The Category-wise details of the Basis of Allotment are as under:
C. Allocation to Non Retail Investors (After Technical Rejections): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs.45/- per Equity Share, was finalized in consultation with NSE. The-catagory was subscribed 13.78 times. The total number of shares allotted in this category is 13,41,000 Equity Shares. The Category-wise details of the Basis of Allotment are as under:
D. Allocation to QIB (Mutual Fund+Others) (After Technical Rejections): The Basis of Allotmentto the QIB, at the issue price of Rs. 45/- per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 0.87 times and hence firm allotment was made to QIB by allocating 9,99,000 Equity Shares. The total number of shares allotted in this category is 9,99,000 Equity Shares
E. Allocation to Lead Manager as Underwriter's Obligation (After Technical
Rejections & Withdrawal): Unsubscribed portion of 1,50,000 Equity
Shares under the category of QBI's brought-in by the Merchant Banker Underwriter's
obligation at the price of Rs. 45/- per Equity Share. Book Running Lead Manager, Mark
Corporate Advisors Private Limited have agreed to fulfil their underwriting obligation of
100.00% of the Issue Size on their own account and have accordingly subscribed for
1,50,000 Equity Shares. The Basis of Allotment for Lead Manager as Underwriter Category at
the issue price of Rs. 45/-per Equity Share, was finalized in consultation with NSE and
1,50,000 Equity Shares were allotted to Mark Corporate Advisors Private Limited.
The CAN and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories on or before September 07, 2018. Further, the instructions to Self Certified Syndicate Banks are being processed on September 06, 2018. 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 steps to get the Equity Shares admitted for trading on the SME Platform of NSE "NSE EMERGE" within six working days from the date of the closure of the Issue. The trading is proposed to be commenced with effect from Monday, September 10, 2018*.
*Subject to receipt of listing and trading approvals from the NSE.
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 http://www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants, 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
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 OF SUMIT WOODS LIMITED.ALL CAPITALISED TERMS USED AND NOT DEFINED HEREIN SHALL HAVE THE RESPECTIVE MEANINGS ASSIGNED IN THE RED HERRING PROSPECTUS/PROSPECTUS.