|Basis of Allotment|
THIS IS A PUBLIC ANNOUNCEMENT 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
|PATTECH FITWELL TUBE COMPONENTS LIMITED|
Our Company was originally formed as a partnership firm in the name and style of "M/s. Pat Tech Fitwell Tube Components" vide partnership deed dated November 22, 2012. Consequently, the firm was converted into company under same style as "Pattech Fitwell Tube Components Private Limited" under the Companies Act, 2013 vide certificate of incorporation dated August 22, 2022 issued by Assistant Registrar of Companies. Central Registration Centre. Thereafter, our Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of our Shareholders held on September 23, 2022, and consequently, the name of our Company was changed to "Pattech Fitwell Tube Components Limited", and a fresh certificate of incorporation consequent upon conversion from private company to public company dated October 11, 2022. bearing Corporate Identification Number U28990GJ2022PLC134839 was issued by the Registrar of Companies, Ahmedabad to our Company.
|Registered office: Survey No.873/8/1, RD No: 1, Ansons Limbani Estate Nr. 6ETC0 66K.V. Sub Station, G.I.D.C. Por. N.H-08 Vadodara. Gujarat - 391243, India. ||
|Tel/Mob No: (0265) 2830151 | Email Id: firstname.lastname@example.org | Website: https://www.pftcpipefittings.com/|
|Contact Person: Anita Digbijay Paul, Company Secretary and Compliance Officer|
|PROMOTERS OF OUR COMPANY: BHARATBHAI JIVRAJBHAI LIMBANI AND JAYSUKHBHAI POPATBHAI LIMBANI|
Our Company has filed the Prospectus with the RoC and the Equity Shares are proposed to be listed on the EMERGE Platform of NSE Limited ("NSE") and trading of the Equity Shares Allotted pursuant to the Offer is expected to commence on or about April 21, 2023.
|BASIS OF ALLOTMENT|
INITIAL PUBLIC ISSUE OF 24,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH ("EQUITY SHARES") OF PATTECH FITWELL TUBE COMPONENTS LIMITED ("THE COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 50 PER EQUITY SHARE (THE "ISSUE PRICE"), (INCLUDING A PREMIUM OF Rs. 40 PER EQUITY SHARE), AGGREGATING Rs. 1200.00 LAKHS ("THE ISSUE"), OF WHICH 1,26,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- FOR CASH AT A PRICE OF Rs. 50 EACH AGGREGATING Rs. 63.00 LAKHS WILL BE RESERVED FOR SUB-SCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 22,74.000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 50 PER EQUI-TY SHARE, AGGREGATING TO Rs. 1137.00 LAKHS IS HERE IN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.94 % AND 29.31% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00/- EACH AND THE ISSUE PRICE IS Rs. 50/- PER EQUITY SHARE.
|ISSUE PRICE: Rs. 50 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH|
|THE ISSUE PRICE IS 5 TIMES OF THE FACE VALUE OF THE EQUITY SHARES|
|ISSUE PROGRAM||ISSUE OPENED ON: WEDNESDAY, APRIL 05, 2023|
|ISSUE CLOSED ON: WEDNESDAY, APRIL 12, 2023|
The Equity Shares of the Company offered through the Prospectus dated March 22, 2023 are proposed to be listed on the EMERGE Platform of NSE Limited ("NSE EMERGE") in terms of the Chapter IX of SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received In-Principle Approval Letter dated March 13, 2023 from NSE for listing our shares and also for using its name in the offer document for listing of our shares on EMERGE Platform of NSE Limited. It is to be distinctly understood that the 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 certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Prospectus for the full text of the "Disclaimer Clause of the EMERGE Platform of NSE Limited" on page 226 of the Prospectus. For the purpose of this issue the Designated Stock Exchange will be NSE Limited ("NSE"). The trading is proposed to be commenced on or about April 21, 2023 (Subject to receipt of listing and trading approval from NSE).
This issue is being made through Fixed Price Process in terms of Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ( "SEBI (ICDR) Regulations") as amended and Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"). According to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018 as amended from time to time, the allocation in the Net Issue to the Public category is made as follows: (a) minimum 50% of the net issue of shares shall be allocated to Retail Individual Investors and (b) remaining to: (i) Individual applicants other than retail individual investors; and (ii) other investors including corporate bodies or institutions, irrespective of number of specified securities applied for; provided that the unsubscribed portion in either of categories specified in clauses (a) or (b) may be allocated to applicants in the other category.
If the retail individual investor category is entitled to more than allocated portion on proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage. For further details, please refer to chapter titled "Issue Structure" beginning on page no. 244 of the Prospectus.
All investors have participated in this issue through Application Supported by Blocked Amount ("ASBA") process including through Unified Payment interface ("UPI") mode (as applicable) by providing the details of the respective bank accounts/ UPI ID as applicable in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs'') / Sponsor Bank as the case may be.
DETAILS OF THE APPLICATION:
The Issue has received 782 applications for 46,89,000 Equity Shares (Including Market Maker Application of 1,26,000 Equity Shares) resulting 1.95 times subscription.
The details of the applications received in the Issue from Retail Individual Investors, Non-Institutional Investors and Market Maker (before and after technical rejections & withdrawal) are as follows:
DETAILS OF APPLICATIONS RECEIVED (x Rejection and after amounts not blocked)
|Category||Number of applications||Number of equity shares applied||Number of equity shares reserved as per Prospectus||Number of times subscribed|
|Retail Individual Investors||747||22,41,000||11,37,000||1.97|
|Other than Retail Individual Investors||34||23,22,000||11,37,000||2.04|
DETAILS OF VALID APPLICATIONS:
|No. of applications||No. of equity shares||No. of applications||No. of equity shares||No. of applications||No. of equity shares|
|Retail Individual Investors||769||23,07,000||22||66,000||747||22,41,000|
|Other than Retail Individual Investor's||35||23,31,000||1||9,000||34||23,22,000|
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange i.e. NSE Limited on April 18. 2023.
Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of ? 50.00/- per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1.26.000 Equity shares in full out of reserved portion of 1,26,000 Equity Shares.
|C.||Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of *50.00/- per Equity Share, was finalized in consultation with NSE EMERGE. The category was subscribed by 1.97 times. The total number of shares allotted in this category is 11.37.000 Equity shares out of reserved portion of 11.37.000 Equity Shares.|
|Sr.No.||No. of shares applied for (Category wise)||Number of applications received||% to total||Total No. of shares applied in each category||% to total||Proportionate Shares available||Allocation per Applicant||Ratio of allottees to applicants||Serial Number of Qualifying applicants||Number of successful applicant (after rounding off)||%to
|Total no. ol Shares Allocated/ allotted||% to total||No. of Shares Surplus/ Deficit|
|(before rounding off)||(after rounding off)|
|D.||Allocation to Non- Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non-Retail Individual Investors, at the issue price of Rs. 50.00/- per Equity Share, was finalized in consultation with NSE EMERGE. The category was subscribed by 2.04 times. The total number of shares allotted in this category is 11.37,000 Equity shares out of reserved portion of 11,37,000 Equity Shares.|
|Sr.No.||No. of shares applied for (Category wise)||Number of applications received||% to total||Total No. of shares applied in each category||% to total||Proportionate Shares available||Allocation per Applicant||Ratio of allottees to applicants||Serial Number of Qualifying applicants||Number of successful applicant (after rounding off)||% to total||Total no. of Shares Allocated/ allotted||% to total||No. of Shares Surplus/ Deficit|
|(before rounding off)||(after rounding off)|
The Board of Directors of the Company at its meeting held on April 18, 2023 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE EMERGE and has authorized the online corporate action for the allotment of the Equity Shares in dematerialised form to various successful applicants.
The CAN-cum-Refund Orders and Allotment Advice anchor Notices are being dispatched to the address of the applicants as registered with the depositories / as filled in the application form on Wednesday, April 19, 2023. Further, the instructions to Self-Certified Syndicate Banks being processed on Tuesday. April 18, 2023 for unblocking fund. In case the same is not received within Four (4) days, investors may contact 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 shall file the listing application with NSE on or before Thursday, April 20, 2023. The Company is in process of obtaining the listing & the trading approval from NSE and the trading is expected to commence on or about Friday, April 21, 2023.
Note: All capitalised terms used and not specifically defined herein shall have the same meaning as Ascribed to them in the Prospectus dated March 22, 2023.
|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 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|
|Address: - Office No. S6 - 2,6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri - (East), Mumbai, - 400093, Maharashtra, India.|
|Tel No: +91 22 6263 8200 | Fax No: +91 22 6263 8299 | E-mail Id: email@example.com | Website: www.bigshareonline.com|
|Investor Grievance ID: firstname.lastname@example.org|
|Contact Person: Mr. Babu Rapheal | SEBI Registration No: INR000001385|
|FOR PATTECH FITWELL TUBE COMPONENTS LIMITED|
|On behalf of the Board of Directors|
|Bharatbhai Jivrajbhai Limbani|
|Place: Vadodara, Gujarat||Chairman & Managing Director|
|Date: April 19, 2023||DIN:09710373|
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF PATTECH FITWELL TUBE COMPONENTS LIMITED.
The Equity Shares offered in this Otter have not been and will not be registered under the US Securities Act, 1933. as amended (the "Securities Act") or any state securities laws in the United States and may not be offered or sold within the United States or to. or for the account or benefit of, "U.S. persons" (as defined in Regulation S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the Securities Act. Accordingly, the Equity Shares will be offered and sold (i) within the United States only to persons reasonably believed to be "Qualified Institutional Buyers" (as defined in Rule 144A of the Securities Act) under Section 4(a) of the Securities Act, and (ii) outside the United States in offshore transaction in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdiction where those otter and sales occur.
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 Application may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.