| Basis of Allotment |
THIS IS A PUBLIC ANNOUCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. THIS PUBLIC ANNOUNCEMENT IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA
|
FIDEL SOFTECH LIMITED |
| CIN: U72200PN2004PLC020061 |
Our Company was incorporated as Private Limited Company under the name "Fidel Softech Private Limited" under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated December 24, 2004 issued by Registrar of Companies, Pune. Subsequently, our Company was converted into a Public Limited company pursuant to approval of the Shareholders at an Extraordinary General meeting held on April 04, 2022 and consequently, the name of our Company was changed to "Fidel Softech Limited'' and a Fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company was issued by Registrar of Companies, Pune on April 13, 2022. The Corporate Identification Number of our Company is U72200PN2004PLC020061.
| Registered Office: Unit No. 202, 2nd Floor, Marisoft 3, West Wing, Marigold Software IT Park, Vadgaon Sheri, Pune - 411 014, Maharashtra, India. |
| Tel:- 020 - 49007878 | Email Id: investor-relations@fidelsoftech.com | Website: www.fidelsoftech.com |
| Contact Person: Pragnesh Ganpat Patel, Company Secretary and Compliance Officer |
| PROMOTERS OF THE COMPANY: SUNIL SUDHAKAR KULKARNI AND PRACHI SUNIL KULKARNI |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 36,48,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH ("EQUITY SHARES") OF FIDEL SOFTECH LIMITED ("FIDEL" OR "OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF Rs. 37/- PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 27/- PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs. 1,349.76 LAKHS ("THE ISSUE") OF WHICH 1,86,000 EQUITY SHARES AGGREGATING TO Rs. 68.82 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 34,62,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH AT AN ISSUE PRICE OF Rs. 37/- PER EQUITY SHARE AGGREGATING TO Rs. 1,280.94 LAKHS ("NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.53% AND 25.18% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| THE FACE VALUE OF EQUITY SHARES IS Rs. 10/- |
| AND THE ISSUE PRICE IS 3.7 TIMES OF THE FACE VALUE |
| ISSUE OPENED ON: MAY 30, 2022 AND ISSUE CLOSED ON: JUNE 02 , 2022 |
| RISKS TO INVESTORS: |
| 1. | Our Equity Shares have never been publicly traded, and may experience price and volume fluctuations following the completion of the Issue. 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 Issue Price or at all. |
| 2. | The average cost of acquisition of Equity Shares by our Promoters is Rs 0.25 per Equity Share. |
Investors are required to refer section titled "Risk Factors" beginning on page 24 of the Prospectus.
Our Company has filed the Prospectus dated May 24, 2022 with the ROC (the ‘Prospectus'). The Equity Shares of the Company are proposed to be listed on the EMERGE 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 May 20, 2022. NSE is the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on June 10, 2022 (Subject to receipt of listing and trading approvals from the NSE).
The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category is made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public is initially made available for allotment to Retail Individual Investors. The balance of Net Issue 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 with 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 shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of the respective bank accounts and / or UPI IDs, in case of UPI Investors (defined in the Prospectus), if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same.
SUBSCRIPTION DETAILS
The Net Issue has received 31,813 applications before technical rejections for 32,21,73,000 Equity Shares resulting in 102.84 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received
| 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 Applicant | 29,992 | 8,99,76,000 | 29,471 | 8,84,13,000 |
| Other than Retail Individual Applicant | 1,821 | 23,21,97,000 | 1,798 | 23,15,82,000 |
| Total | 31,813 | 32,21,73,000 | 31,270 | 32,01,81,000 |
| Note: | 1. The Net Issue does not include 1,86,000 Equity Shares reserved for Market Maker, which was subscribed by 1.00 times. |
| 2. There were 544 Technical Rejection for 21,78,000 Equity Shares & no withdrawal of any application in any category. |
In the event of over subscription, the allotment will be made on a proportionate basis in marketable lots. In other than Retail Individual Category there was over subscription of 23,21,97,000 Equity Shares before technical rejection and 23,15,82,000 Equity Shares after technical rejection. In Retail Category there was over subscription of 8,99,76,000 Equity Shares before technical rejection and 88,413,000 Equity Shares after technical rejection. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE on June 07, 2022.
| A) | Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 37/- per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,86,000 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 of Allottees to the Applicant | Total No. of Shares Allotted |
| 1,86,000 | 1 | 100 | 1,86,000 | 100 | 1,86,000 | 1:1 | 1,86,000 |
| B) | Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs 37/- 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 allocated in this category is 17,31,000 Equity Shares. The category was subscribed by 51.08 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 of Allottees to the Applicant | Total No. of Shares Allotted |
| 3,000 | 29,471 | 100 | 88,413,000 | 100 | 3,000 | 1:51 | 17,31,000 |
| C) | Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs 37/- 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 allocated in this category is 17,31,000 Equity Shares. The category was subscribed by 133.79 times. The category-wise details of the Basis of Allotment are as under (Sample basis): |
| No. of Equity Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Allocation Per Applicant | Ratio of allottees to applicants | Total No. of Shares allocated/ allotted |
| 6,000 | 511 | 28.41 | 30,66,000 | 1.32 | 3,000 | 8:511 | 24,000 |
| 9,000 | 87 | 4.83 | 7,83,000 | 0.33 | 3,000 | 2:87 | 6,000 |
| 12,000 | 69 | 3.83 | 8,28,000 | 0.35 | 3,000 | 2:69 | 6,000 |
| 15,000 | 53 | 2.94 | 7,95,000 | 0.34 | 3,000 | 2:53 | 6,000 |
| 18,000 | 47 | 2.61 | 8,46,000 | 0.36 | 3,000 | 2:47 | 6,000 |
| 21,000 | 41 | 2.27 | 8,61,000 | 0.37 | 3,000 | 2:41 | 6,000 |
| 24,000 | 40 | 2.22 | 9,60,000 | 0.41 | 3,000 | 1:20 | 6,000 |
| 27,000 | 135 | 7.5 | 36,45,000 | 1.57 | 3,000 | 1:15 | 27,000 |
| 30,000 | 161 | 8.95 | 48,30,000 | 2.08 | 3,000 | 12:161 | 36,000 |
| 33,000 | 43 | 2.39 | 14,19,000 | 0.61 | 3,000 | 4:43 | 12,000 |
| 81,000 | 15 | 0.83 | 12,15,000 | 0.52 | 3,000 | 1:5 | 9,000 |
| 4,56,000 | 1 | 0.05 | 4,56,000 | 0.19 | 3,000 | 1:1 | 3,000 |
| 23,70,000 | 1 | 0.05 | 23,70,000 | 1.02 | 18,000 | 1:1 | 18,000 |
| 24,00,000 | 2 | 0.11 | 48,00,000 | 2.07 | 18,000 | 1:1 | 36,000 |
| 32,40,000 | 2 | 0.11 | 64,80,000 | 2.79 | 24,000 | 1:1 | 48,000 |
| 34,62,000 | 14 | 0.77 | 4,84,68,000 | 20.92 | 24,000 | 1:1 | 3,36,000 |
The Board of Directors of the Company at its meeting held on June 07, 2022, 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 June 8, 2022. Further, the instructions to Self Certified Syndicate Banks will be processed on or before June 8, 2022 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 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 National Stock Exchange of India Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on June 10, 2022 subject to receipt of listing and trading approvals from NSE EMERGE.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated May 24, 2022 ("Prospectus").
INVESTORS PLEASE
The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: 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 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:
 |
BIGSHARE SERVICES PRIVATE LIMITED |
| 1st Floor, Bharat Tin Works Building, Opposite Vasarrt Oasis, | |
| Makwana Road, Marol, Andheri (East), Mumbai - 400059, Maharashtra, India. | |
| Telephone: 022 - 6263 82001 E-mail: ipo@bigshareonline.com | |
| Investor grievance E-mail: investor@bigshareonline.com | |
| Website: www.bigsharesonline.com | |
| Contact Person: Babu Rapheal SEBI Registration No.: INR000001385 |
| For Fidel Softech Limited | |
| On behalf of the Board of Directors | |
| Place: Pune | Sd/- |
| Date: June 09,2022 | 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 FIDEL SOFTECH LIMITED.
FIDEL SOFTECH LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Offer of its Equity Shares and has filed Prospectus with the Registrar of Companies, Pune on May 24, 2022. The Prospectus is available on websites of the Company, the NSE and the Lead Manager at www.fidelsoftech.com, www.nseindia.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 no. 24 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 'U.S.Securities Act and applicable U.S. state securities law. Accordingly, the Equity Shares are offered or sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as 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 act and applicable laws of the jurisdiction where such offers and sales occur.
|
Close
|