| Basis of Allotment |
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE, PUBUCATKJN OR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
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MASTER COMPONENTS LIMITED |
| Corporate Identification Number: U28900MH1999PLC123308 |
Our Company was incorporated as Master Components Private Limited on December 27,1999 under the Companies Act, 1956 with the Registrar of Companies, Mumbai bearing Registration number 123308. The status of the Company was changed to public limited and the name of our Company was changed to Master Components Limited vide Special Resolution dated December 26, 2022. The fresh certificate of incorporation consequent to conversion was issued on January 04, 2023 by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U28900MH1999PLC123308. For further details, please refer to the chapter "History and Certain Corporate Matters" beginning on page no. 106 of the Prospectus dated September 12,2023.
| Registered Office: Plot No. D-10/A and D-10/B, M.I.D.C, Ambad, Nashik -422010, Maharashtra |
| TelNo.: +91 9823016315/9823154115 | Email: compliance@master-components.com | Website: www.master-group.in/master-components.html |
| Contact Person: Akshada Bhase, Company Secretary and Compliance Officer |
| PROMOTERS OF OUR COMPANY: MIMOURAJ KULKARNI, SHRIKANT JOSHI, RAJESHWARI KULKARNI AND ANAGHA JOSHI |
The Issue is being made in accordance with Chapter IX of the SEBIICDR Regulations (IPO of Small and Medium Enterprises) and the Equity Shares are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited ("NSE").
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF 11,02,000 EQUITY SHARES OF Rs. 10 EACH ("EQUITY SHARES") OF MASTER COMPONENTS LIMITED ("MCL" OR THE "COMPANY") FOR CASH AT A PRICE OF Rs. 140 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO 71,542.80 LAKHS ("THE ISSUE"), CONSISTING OF FRESH ISSUE OF 7,00,000 EQUITY SHARES AGGREGATING TO 7 980.00 LAKHS AND AN OFFER FOR SALE OF 4,02,000 EQUITY SHARES COMPRISING OF 2,01,000 BY MUDDURAJ KULKARNI AND 2,01,000 BY SHRIKANT JOSHI ("THE PROMOTERS SELLING SHAREHOLDERS" OR "THE SELLING SHAREHOLDERS") AGGREGATING TO Rs. 562.80 LAKHS ("OFFER FOR SALE"), OF WHICH 56,000 EQUITY SHARES OF Rs. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY AGGREGATING MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THAN THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,46,000 EQUITY SHARES OF Rs. 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.55% AND 26.15% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
| THE FACE VALUE OF THE EQUITY SHARES IS DO/- AND THE ISSUE PRICE IS 14 TIMES OF THE FACE VALUE |
| FIXED PRICE ISSUE At Rs. 40/- PER EQUITY SHARE |
| MINIMUM APPLICATION SIZE OF 1,000 EQUITY SHARES AND IN MULTIPLES OF 1,000 EQUITY SHARES THEREAFTER |
BID/ISSUE PERIOD |
OPENED ON: MONDAY, SEPTEMBER 18, 2023 |
| CLOSES ON: THURSDAY, SEPTEMBER 21, 2023 |
RISK TO INVESTORS: |
1. Our Equity Shares have never been publicly traded, and may experience price and volume fluctuations following ttie 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 as follows:
| Sr. No. | Name of the Promoters | Average cost of Acquisition (in ?) |
| 1. | Mudduraj Kulkarni | 0.54 |
| 2. | Shrikant Joshi | 0.54 |
| 3. | Rajeshwari Kulkarni | 0.74 |
| 4. | Anagha Joshi | 0.74 |
3. Weighted average cost of acquisition:
| Types of transactions | Weighted average cost of acquisition (Rs. per Equity Shares) |
| Weighted average cost of acquisition of primary / new issue of shares. | Not Applicable |
| Weighted average cost of acquisition for secondary sale / acquisition of shares. | Not Applicable |
Note *There have been no primary / new issuance!secondary sale / acquisitions of Equity Shares, where the promoters, members of the promoter group, selling shareholders or shareholders) having the right to nominate director(s) in the board of directors of the Company are a party to the transaction (excluding Bonus Shares, Inter-se transfer & gifts within Promoter Group) during the period of preceding 3 years from the date of the Prospectus dated September 12,2023. Investors are required to refer section titled "Risk Factors" on page 23 of the Prospectus dated September 12,2023.
PROPOSED LISTING: Friday September 29,2023* |
This issue is being made in terms of Chapter IX of the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended ("SEBI (1CDR) Regulations''), in terms of rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended, this is an issue for at least 25% of the postissue paid-up equity share capital of our Company. This issue is a fixed price issue and allocation in the net issue to the public will be made in terms of regulation 253 of the SEBI (ICDR) regulations. For further dBtails, please refer chapter titled "issue procedure" beginning on page 190 of the Prospectus dated September^, 2023. ‘subject to the receipt of listing and trading approval from the NSE (NSE Emerge).
SUBSCRIPTION DETAILS |
The Net Issue has received 5,650 applications for 82,62,000 Equity Shares resulting in 7.50 times subscription. The details of the applications received in the Net Issue (After removing multiple and duplicate bids, bids (UPI Mandates) not accepted by investors/ blocked, bids rejected under application banked but bid not registered and valid rejections cases from the ‘Bid Book') are as follows:
Detail of the Applications Received
| Sr. No. | Category | No. of Applications | No. of Equity Shares Applied | Equity Shares Reserved per Prospectus | No. of times subscribed | Amount (Rs.) |
| 1 | Market Maker | 1 | 56,000 | 56,000 | 1.00 | 7,840,000 |
| 2 | Non-Retail Investor's | 468 | 30,25,000 | 5,23,000 | 5.78 | 30,24,860 |
| 3 | Retail Individual Investor's | 5,181 | 51,81,000 | 5,23,000 | 9.91 | 72,53,40,000 |
| TOTAL | 5,680 | 82,62,000 | 11,02,000 | 7.50 | 1,15,66,80,000 |
The Basis of allotment was finalized in consultation with the Designated Stock Exchange, being National Stock Exchange of India Limited (NSE Emerge) on September 25,2023 and In view of the explanation provided under regulations 253 (2) of the SEBI (ICDR) Regulation, 2018, the Retail Category has applied for 63.14% and 36.86% by Non -Retail Investor; accordingly, we have derived the issue size for different categories. Further, owing to rounding off, an additional share has been proportioned to be allotted in retail Investors.
1. Allotment to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 140 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 56,000 Equity Shares. The category-wise details of the Basis ot Allotment are as under:
| No. of Shares Applied for (Category Wise) | No. of Applications Received | % to Total | Total No. of Shares Applied In Each Category | % to Total | No of Equity shares Allocated per Applicant | Ratio | Total No. of Shares Allotted |
| 56,000 | 1 | 100.00 | 56,000 | 100.00 | 56,000 | 1:1 | 56,000 |
2. Allotment to Non-Retail Investor's (After Technical Rejections): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs. 140 per Equity Share, was finalised in consultation with NSE. The total number of shares allocated in this category is 3,85,000 Equity Shares. The category was subscribed by 7.86 times. The category-wise details of the Basis of Allotment are as under (sample basis)
| No. of Shares Applied for (Category Wise) | No. of Applications Received | % to Total | Total No. of Shares Applied in Each Category | % to Total | No of Equity shares Allocated per Applicant | Ratio | Total No. of Shares Allotted |
| 2,000 | 321 | 68.59 | 6,42,000 | 21.22 | 1,000 | 82:321 | 82,000 |
| 3.000 | 27 | 5.76 | 81,000 | 2.67 | 1,000 | 10:27 | 10,000 |
| 4,000 | 25 | 5.34 | 1,00,000 | 3.30 | 1,000 | 13:25 | 13,000 |
| 5.000 | 25 | 5.34 | 1,25,000 | 4.13 | 1,000 | 16:25 | 16,000 |
| 6,000 | 8 | 1.71 | 48,000 | 1.58 | 1,000 | 3:4 | 60,00 |
| 7.000 | 5 | 1.07 | 35,000 | 1.15 | 1,000 | 1:1 | 50.00 |
| 8,000 | 9 | 1.92 | 72,000 | 2.38 | 1,000 | 1:1 | 90,00 |
| 9,000 | 1 | 0.21 | 9,000 | 0.29 | 1,000 | 1:1 | 1,000 |
| 10,000 | 12 | 2.56 | 1,20,000 | 3.96 | 1,000 | 1:1 | 12,000 |
| 10,000* | 0.00 | 0.00 | 1,000 | 1:4 | 3,000 | ||
| 11,000 | 1 | 0.21 | 11,000 | 0.36 | 1,000 | 1:1 | 1,000 |
| 16,000 | 1 | 0.21 | 16,000 | 0.52 | 2,000 | 1:1 | 2,000 |
| 18,000 | 2 | 0.43 | 36,000 | 1.19 | 2,000 | 1:1 | 4,000 |
| 18,000* | 0.00 | 0.00 | 1,000 | 1:2 | 1,000 | ||
| 20,000 | 1 | 0.21 | 20,000 | 0.66 | 3,000 | 1:1 | 3,000 |
| 23,000 | 1 | 0.21 | 23,000 | 0.76 | 3,000 | 1:1 | 3,000 |
| 24,000 | 1 | 0.21 | 24,000 | 0.79 | 3,000 | 1:1 | 3,000 |
| 30,000 | 1 | 0.21 | 30,000 | 0.99 | 4,000 | 1:1 | 4,000 |
| 32.000 | 4 | 0.85 | 1,28,000 | 4.23 | 4,000 | 1:1 | 16,000 |
| 36,000 | 5 | 1.06 | 1,80,000 | 5.95 | 4,000 | 1:1 | 20,000 |
| 36,000* | 0.00 | 0.00 | 1,000 | 3:5 | 3,000 | ||
| 37,000 | 2 | 0.42 | 74,000 | 2.44 | 4,000 | 1:1 | 8,000 |
| 37.000* | 0.00 | 0.00 | 1,000 | 1:2 | 1,000 | ||
| 38,000 | 2 | 0.42 | 76,000 | 2.51 | 5,000 | 1:1 | 10,000 |
| 39.000 | 1 | 0.21 | 39,000 | 1.28 | 5,000 | 1:1 | 5,000 |
| 40,000 | 1 | 0.21 | 40,000 | 1.32 | 5,000 | 1:1 | 5,000 |
| 46.000 | 2 | 0.43 | 92,000 | 3.04 | 6,000 | 1:1 | 12,000 |
| 47,000 | 1 | 0.21 | 47,000 | 1.55 | 6,000 | 1:1 | 6,000 |
| 48.000 | 1 | 0.21 | 48,000 | 1.58 | 6,000 | 1:1 | 6,000 |
| 50,000 | 3 | 0.64 | 1,50,000 | 4.95 | 6,000 | 1:1 | 18,000 |
| 50,000* | 0.00 | 0.00 | 1,000 | 1:3 | 1,000 | ||
| 51,000 | 1 | 0.21 | 51,000 | 1.68 | 7,000 | 1:1 | 7,000 |
| 72.000 | 1 | 0.21 | 72,000 | 2.38 | 9,000 | 1:1 | 9,000 |
| 1,36,000 | 1 | 0.21 | 1,36,000 | 4.49 | 17,000 | 1:1 | 17,000 |
| 2.14.000 | 1 | 0.21 | 2,14,000 | 7.07 | 27,000 | 1:1 | 27,000 |
| 2,86,000 | 1 | 0.21 | 2,86,000 | 9.45 | 36,000 | 1:1 | 36,000 |
| TOTAL | 46B | 100 | 30,25,000 | 100 | 3,85,000 |
* Note: Additional lot ol 1000 shares have been allotted to categories 10000,18000,36000,37000 & 50000 in the ratio of 1:4,1:2,3:5,1:2 & 1:3 respectively.
3. Allotment to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of t\ 40 per Equity Share, was finalised in consultation with NSE. The total number of shares allocated in this category is 6,61,000 Equity Shares. The category was subscribed by 7.84 times. The category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on September 26,2023, 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-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories as filled in the application form. Further, the instructions to Self Certified Syndicate Banks were being processed on September 27,2023. In case the same is not received within ten days, investors may contact the Registrar to the issue at the address given below. The Equity Shares allocated to successful applicants shall be uploaded on September 28,2023 for credit into the respective beneficiary accounts subject to validation of the account details with depositories concerned. The Company is in the process of obtaining approval from NSE and the trading of the equity shares Is expected to commence trading on September 29,2023.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them In the Prospectus dated September 12,2023 (" Prospectus').
INVESTOR PLEASE NOTE |
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.bigstiareonline.com
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 ASB A 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 and copy of the acknowledgement Slip received from the Designated Intermediary and payment details at the address given below:
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BIGSHARE SERVICES PRIVATE LIMITED |
| Office No S6-2,6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai - 400093 | |
| Tel. No.: +91 22 6263 8200 | Email: lpo@bigshareonllne.com | Website: www.blgshareonline.com | |
| Investor Grievance Email: investor@blgshareonline.com | Contact Person: Babu Rapheal | SEBI Registration No.: INR000001385 |
| For Master Components Limited | |
| On behalf of the Board of Directors | |
| Sd/- | |
| Mudduraj Kulkarni | |
| Date: September 27,2023 | Chairman & Managing Director |
| Place: Nashik | DIN: 01190978 |
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 MASTER COMPONENTS LIMITED.
Declaimer: MASTER COMPONENTS LIMITED has filled the Prospectus dated September 12, 2023 with the Registrar of Companies, Mumbai SEBI and the Stock Exchange. The Prospectus is available on the website of the Lead Manager at www.afsl.co.ln and Company at www.master-group.in/master-components.html and shall also be available on the website of the NSE and SEBI. Investors should note that investment in Equity Shares involves a high risk and for the details relating to the issue, please see "Risk Factors* beginning on page 23 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act 1933, as amended (the ‘Securities Act') or any state securities laws in the United States and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being issued and sold outside the United States in ‘offshore transactions' in reliance on Regulation under the Securities Act and applicable laws of each jurisdiction where such Issue and sales are made. There will be no public issuing in the United States. AdBaaz
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