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 PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY
OUTSIDE INDIA
 |
SOTAC
PHARMACEUTICALS LIMITED |
| CIN:
U24230GJ2015PLC085451 |
Our Company was originally formed and registered as a Partnership firm
under the Partnership Act, 1932 ("Partnership Act") in the name and style of
"Ms Sotac Pharmaceuticals', pursuant to a deed of partnership dated December 10, 2014
Thereafter *M/s. Sotac Pharmaceuticals" was converted from Partnership Firm to a
Private Limited Company under Part I (Chapter XXI) of the Companies Act, 2013 in the name
of "Sotac Pharmaceuticals Private Limited" and received a certificate of
incorporation dated December 18, 2015 from the Assistant Registrar of Companies, Gujarat.
Later on our Company was converted into a Public Limited Company pursuant to shareholders
resolution passed at Extra-ordinary General Meeting of our Company held on November 12,
2022 and the name of our Company was changed to "Sotac Pharmaceuticals Limited"
A fresh Certificate of Incorporation consequent upon Conversion from Private Limited
Company to Public Limited Company dated November 22, 2022 was issued by the Registrar of
Companies, Ahmedabad. The Corporate Identification Number of our Company is
U24230GJ2015PLC085451.
| Registered Office:
Plot No. PF-21. Nr. ACME Pharma, Opp. Teva Pharma Sanand GIDC-II, Sanand Ahmedabad
-382110, Gujarat, India |
| Tel No.: +91 90819
93300; Email: compliance@sotacpharma.com
Website: www.sotacpharma.com |
| Contact Person: Ms.
Pooja Bagrecha, Company Secretary and Compliance Officer. |
| PROMOTERS OF OUR COMPANY: MR.
SHARADKUMAR DASHRATHBHAI PATEL, MR. DINESHKUMAR BABULAL GELOT, MR. VISHALKUMAR DEVRAJBHAI
PATEL, MR. CHETANKUMAR BACHUBHAI PATEL AND MRS. KIRAN BALDEVBHAI JOTANIA |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF 3000000 EQUITY SHARES OF FACE VALUE OF Rs.10/-
EACH OF SOTAC PHARMACEUTICALS LIMITED ("SPL" OR THE "COMPANY'' OR THE
"ISSUER") FOR CASH AT A PRICE OF Rs.111/- PER EQUITY SHARE INCLUDING A SHARE
PREMIUM OF Rs. 101/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs.
3,330.00 LAKHS ("THE ISSUE"), OF WHICH 150000 EQUITY SHARES OF FACE VALUE OF Rs.
10/- EACH FOR CASH AT A PRICE OF Rs. 111/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF
Rs.101/- PER EQUITY SHARE AGGREGATING TO Rs.166.50 LAKHS ARE RESERVED FOR SUBSCRIPTION BY
MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF
2850000 EQUITY SHARES OF FACE VALUE OF Rs.10/- EACH AT A PRICE OF Rs. 111/- PER EQUITY
SHARE INCLUDING A SHARE PREMIUM of Rs. 101/- PER EQUITY SHARE AGGREGATING TO Rs. 3,163.50
LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET
ISSUE WILL CONSTITUTE 27.15% AND 25.79%. RESPECTIVELY, OF THE POST ISSUE PAID UP EQUITY
SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- EACH.
| ISSUE PRICE: Rs. 111.00
PER EQUITY SHARE OF FACE VALUE Rs. 10/- EACH. |
| ANCHOR INVESTOR ISSUE
PRICE: Rs. 111.00 PER EQUITY SHARE |
| THE ISSUE PRICE IS 11.10
TIMES OF THE FACE VALUE |
| Risks to Investors: |
|
|
The Merchant Banker
associated with the Issue has handled 4 public issue in the past three years out of which
Issue closed below the Issue Price on Listing date. |
|
|
Average cost of
acquisition of Equity Shares held by the Promoters is mentioned below |
| Sr.
No |
Name
of Promoter |
No
of Shares Held |
Average
Cost of Acquisition per equity share (in Rs.)* |
| 1. |
Mr.
Sharadkumar Dashrathbhai Patel |
1431500 |
3.09 |
| 2. |
Mr.
Dineshkumar Babulal Gelot |
1431500 |
3.09 |
| 3. |
Mr.
Vishaikumar Devrajbhai Patel |
1431500 |
3.09 |
| 4. |
Mr.
ChetankumarBachubhai Patel |
1069250 |
3.18 |
| 5. |
Mrs.
Kiran Baldevbhai Jotania |
1449000 |
0.03 |
|
|
Weighted Average
Return on Net worth for Fiscals 2022,2021 and 2020 is 32.03% on Standalone Basis. |
| ANCHOR INVESTORS BIDDING
DATE : TUESDAY, MARCH 28, 2023 |
| BID/OFFER OPENED ON:
WEDNESDAY, MARCH 29, 2023;BID/OFFER CLOSED ON: MONDAY, APRIL 03, 2023 |
This Issue is being made through the Book Building Process, in terms ot
Rule I9(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended
("SCRR') read with Regulation 229 of the SEBI ICDR Regulations and in compliance with
Regulation 253 of the SEBI ICDR Regulations, wherein not more than 50.00% of the Net Issue
shall be available for allocation on a proportionate basis to Qualified Institutional
Buyers ("QIBs") (the "QIB Portion"), provided that our Company may, in
consultation with the Book Running Lead Manager, allocate up to 60% of the QIB Portion to
Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations
(‘Anchor Investor Portion'), of which one-third shall be reserved for domestic Mutual
Funds, subject to valid Bids being received from domestic Mutual Funds at or above the
Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in
the Anchor Investor Portion. the balance Equity Shares shall be added to the Net QIB
Portion. Further. 5 00% of the Net QIB Portion shall be available for allocation on a
proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall
be 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. However, if the
aggregate demand from Mutual Funds is less than 5.00% of the Net QIB Portion, the balance
Equity Shares available for allocation in the Mutual Fund Portion will be added to the
remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than
15.00% of the Net Issue shall be available for allocation on a proportionate basis to
Non-Institutional Investors and not less than 35.00% of the Net Issue shall be available
for allocation to Retail Individual Investors in accordance with the SEBI ICDR
Regulations, subject to valid Bids being received from them at or above the Issue Price.
All Bidders (except Anchor Investors) are required to participate in the Issue by
mandatorilly utilizing the Application Supported by Blocked Amount ("ASBA') process
by providing details of their respective ASBA Account (as defined hereinafter) in which
the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks
("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of
respective Bid Amounts. For details, please refer "Issue Procedure" on Page No.
234 of the Prospectus.
The bidding for Anchor investors opened and closed on March 28, 2023
The company received 3 Anchor Investors application for 8,53,200 Equity Shares, The Anchor
Investor Allocation Price was finalized at Rs. 111.00 per Equity Share. A total of
8,53,200 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs.
9,47,05,200/-.
The offer (including Anchor Investor Portion) received applications for
40,03,200 Equity Shares (before technical rejections and after invalid bids
Multiple/Duplicate) resulting in 1.47 times subscription (including reserved portion of
market maker). The Details of the total Valid Applications received in the otter are for
40,03,200 Equity Shares from various categories and are as under:
Detail of the Applications Received:
| CATEGORY |
NUMBER
OF APPLICATIONS |
NO
OF SHARES |
RESERVED |
NO
OF TIMES SUBSCRIPTIONS |
AMOUNT |
| Anchor
Investors |
3 |
8,53,200 |
8.53
200 |
1.00 |
9,47,05,200 |
| Market
Makers |
1 |
1,50,000 |
1,50.000 |
1.00 |
1,66,50,000 |
| Qualified
Institutional Buyers (excluding Anchor Investors) |
2 |
5,70,000 |
5,70,000 |
1.00 |
6,32,70,000 |
| Other
than Retail Individual Investors |
45 |
15,57,600 |
5,54,400* |
2.81 |
17,28,93,600 |
| Retail
individual Investors |
727 |
8,72,400 |
8,72,400
$ |
1.00 |
9,68,36,400 |
| TOTAL |
778 |
40,03,200 |
30.00,000 |
|
44,43,55,200 |
* Include Spilled over of 126,000 Equity Shares from Retail category
$ Unsubscribed portion of 126.000 Equity Shares spilled over to NIB
Category.
Final Demand
A summary of the final demand as per NSE as on the Bid,/offer Closing
Date at different Bid Prices is as under:
| S-No. |
Bid
Price |
Bids |
Bids
Quantity |
%
of Total |
| 1. |
105 |
31 |
37,200 |
0.69 |
| 2. |
106 |
3 |
3,600 |
0.07 |
| 3. |
107 |
- |
- |
- |
| 4. |
108 |
4 |
4,800 |
0.09 |
| 5. |
109 |
4 |
4,800 |
0.09 |
| 6. |
110 |
8 |
10,800 |
0.20 |
| 7. |
111 |
929 |
34,16,400 |
63.55 |
| 8. |
9999 |
1582 |
18,98,400 |
35.31 |
|
TOTAL |
2561 |
53,76,000 |
100.00 |
The Basis of Allotment was finalized In consultation with the
Designated Stock Exchange - NSE on April 10, 2023.
| 1) |
Allocation to Retail
Individual Investors (After Technical Rejections & Withdrawal): The Basis of
Allotment to the Retail Individual Investor's, who have bid at cut-off Price or at or
above the offer Price of Rs. 111.00 per equity shares, was finalized in consultation with
NSE The category was subscribed by 1.00 time (after spill over) i.e. for 8,72,400 Equity
Shares. Total number of shares allotted in this category is 8,72,400 Equity Shares to 727
successful applicants. The category wise details of the Basis of Allotment as under: |
| No.
of Shares Applied for (Category wise) |
No.
of Applications received |
%
tototal |
Total
No. of Equity Shares applied In this Category |
%
to total |
No.
of Equity Shares allocated/allotted per Applicant |
Ratio |
Total
Number of shares allotted |
Surplus/Deficite |
| 1,200 |
727 |
100 |
8,72,400 |
100 |
1200 |
1 |
1 |
8,72,400 |
(1,26,000) |
| TOTAL |
727 |
100 |
8,72,400 |
100 |
1200 |
|
|
8,72,400 |
(1,26,000) |
| 2) |
Allocation to
Non-Institutional Investors (After Technical Rejections & Withdrawal): The Basis
of Allotment to Other than Retail Individual Investors, who have bid at Offer Price of
111.00 per equity shares or above, was finalized in consultation with NSE. The category
was subscribed by 2.81 times i.e. for 15,57.600 Equity Shares the total number of shares
allotted in this category is 5,54,400 Equity Shares to 41 successful applicants. The
category wise details of the Basis of Allotment are as under: |
| No.
of Shares Applied for (Category wise) |
No.
of Applications received |
%
to total |
Total
No. of Equity Shares applied in this Category |
%
to total |
No.
of Equity Shares allocated allotted per Applicant |
Ratio |
Total
Number of shares allotted |
Surplus/Deficite |
| 2400 |
14 |
31.11 |
33600 |
2.15 |
1200 |
5 |
7 |
12000 |
41 |
| 3600 |
4 |
8.88 |
14400 |
0.92 |
1200 |
1 |
1 |
4800 |
(325) |
| 4800 |
1 |
2.22 |
4800 |
0.30 |
1200 |
1 |
1 |
1200 |
(509) |
| 6000 |
2 |
4.44 |
12000 |
0.77 |
2400 |
1 |
1 |
4800 |
529 |
| 7200 |
2 |
4.44 |
14400 |
0.92 |
2400 |
1 |
1 |
4800 |
(325) |
| 8400 |
6 |
13.33 |
50400 |
3.23 |
2400 |
1 |
1 |
14400 |
(3539) |
| 8400 |
|
|
50400 |
|
1200 |
1 |
2 |
3600 |
3600 |
| 9600 |
1 |
2.22 |
9600 |
0.61 |
3600 |
1 |
1 |
3600 |
183 |
| 10800 |
1 |
2.22 |
10800 |
0.69 |
3600 |
1 |
1 |
3600 |
(244) |
| 12000 |
1 |
2.22 |
12000 |
0.77 |
4800 |
1 |
1 |
4800 |
529 |
| 13200 |
2 |
4.44 |
26400 |
1.69 |
4800 |
1 |
1 |
9600 |
203 |
| 16800 |
2 |
4.44 |
33600 |
2.15 |
6000 |
1 |
1 |
12000 |
41 |
| 25200 |
1 |
2.22 |
25200 |
1.61 |
8400 |
1 |
1 |
8400 |
(570) |
| 27600 |
1 |
2.22 |
27600 |
1.77 |
9600 |
1 |
1 |
9600 |
(224) |
| 31200 |
1 |
2.22 |
31200 |
2 |
10800 |
1 |
1 |
10800 |
(305) |
| 44400 |
1 |
2.22 |
44400 |
2.85 |
15600 |
1 |
1 |
15600 |
(203) |
| 54000 |
1 |
2.22 |
54000 |
3.46 |
19200 |
1 |
1 |
19200 |
(20) |
| 90000 |
1 |
2.22 |
90000 |
5.77 |
32400 |
1 |
1 |
32400 |
366 |
| 162000 |
1 |
2.22 |
162000 |
10.40 |
57600 |
1 |
1 |
57600 |
(61) |
| 450000 |
1 |
2.22 |
450000 |
28.89 |
160800 |
1 |
1 |
160800 |
630 |
| 451200 |
1 |
2.22 |
451200 |
28.96 |
160800 |
1 |
1 |
160800 |
203 |
| Total |
45 |
100.00 |
1608000 |
100.00 |
|
|
|
554400 |
- |
| 3) |
Allocation to QIBs excluding
Anchor Investors (After Technical Rejections & Withdrawal): The Basis of Allotment
to QIBs, who have bid at Offer Price of Rs. 111.00 per Equity Shares or above, was
finalized in consultation with NSE. The category was subscribed by 1.00 times i.e. for
5,70,000 Equity shares the total number of shares allotted in this category is 5,70,000
Equity Shares to 2 successful applicants. The category wise details of the Basis of
Allotment are as under. |
| No.
of Shares Applied for (Category wise) |
No.
of Applications received |
%to
total |
Total
No. of Equity Shares applied in this Category |
%
to total |
No.
of Equity Shares allocated' allotted per Applicant |
Ratio |
Total
Number of shares allotted |
Surplus/Deficite |
| 270000 |
1 |
47.36 |
270000 |
47.36 |
270000 |
1 |
1 |
270000 |
- |
| 300000 |
1 |
52.63 |
300000 |
52.36 |
300000 |
1 |
1 |
300000 |
- |
| Total |
2 |
100.00 |
570000 |
100.00 |
570000 |
|
|
570000 |
|
| 4) |
Allocation to Anchor
Investors (After Technical Rejections & Withdrawal): The Company in consultation
with the BRLM has allotted 8,53,200 Equity Shares to 3 Anchor Investors at Anchor Investor
Offer Price of Rs. 111.00 per Equity Shares in accordance with the SEBI ICDR Regulations.
The category wise details of the Basis of Allotment are as under: |
| CATEGORY |
FIS/BANKS |
MF'S |
IC'S |
NBFC'S |
AIF |
FII |
OTHERS |
TOTAL |
| Anchor |
- |
- |
- |
- |
|
8,53,200 |
- |
8,53,200 |
| 5) |
Allocation to Market Maker
(After Technical Rejections & Withdrawal): The Basis of Allotment to Market Maker
who have bid at Offer Price of Rs. 111.00 per Equity Shares or above was finalized in
consultation with NSE The category was subscribed by 1.00 times i.e. for 1,50,000 Equity
shares the total number of shares allotted In this category is 1,50,000 Equity Shares. The
category wise details of the Basis of Allotment are as under: |
| No. of Shares Applied for (Category wise) |
No.
of Applications received |
%
to total |
Total
No. of Equity Shares applied in this Category |
%
to total |
No.
of Equity Shares allocated' allotted per Applicant |
Ratio |
Total
Number of shares allotted |
Surplus/
Deficite |
| 1,50,000 |
1 |
100 |
1,50,000 |
100 |
1,50,000 |
1 |
1 |
1,50,000 |
- |
| TOTAL |
1 |
100 |
1,50,000 |
100 |
1,50,000 |
|
|
1,50,000 |
- |
The Board of Directors of the Company at its meeting held on April 10,
2023 has approved the Basis of Allocation of Equity Shares as approved by the Designated
Stock Exchange viz. NSE and has authorized the corporate action for issue of the Equity
Shares to various successful applicants. The CAN-cum-allotment advices and/or notices will
forwarded to the email id's and address of the Applicants as registered with the
depositories / as filled in the application form on or before April 11, 2023, Further, the
instructions to Self- Certified Syndicate Banks for unblocking the amount will process on
or prior to April 11, 2023. In case the same is not received within ten 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 is taking steps to get the
Equity Shares admitted for trading on the NSE EMERGE within six working days from the date
of the closure of the issue.
Note: All capitalized terms used and not defined herein shall have
the respective meanings assigned to them in the Prospectus dated April 08, 2023
("Prospectus") filed with Registrar of Companies, Ahmedabad.
The details of the allotment made would also be hosted on the website
of the Registrar to the issue. KFIN TECHNOLOGIES LIMITED at www.kfintech.com. All future correspondence in this
regard may kindly be addressed to the Registrar to the offer quoting full name of the
First/ Sole applicants, serial number of the Bid cum 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:
| KFIN TECHNOLOGIES
LIMITED |
| SEBI Registration
Number INR000000221 |
| Address:
Selenium Tower-8, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda,
Serilingampally, |
| Hyderabad - 500 032,
Telangana, India, Tel. Number: +91 40 6716 2222 |
| Fax: +91 40
2343 1551 |
| Email Id: sotac.ipo@kfintech.com |
| Investors
Grievance Id: einward.ris@kfintech.com |
| Website: www.kfintech.com |
| Contact Person:
Mr. Murali Krishna |
| CIN:
U72400TG2017PLC117649 |
|
For SOTAC PHARMACEUTICALS
LIMITED |
|
On behalf of the Board of
Directors |
|
Sd/- |
|
Mr. Sharadkumar
Dashrathbhai Patel |
| Dale: April 11,
2023 |
Chairman and Managing
Director |
| Place: Ahmedabad |
DIN: 07252252 |
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 SOTAC
PHARMACEUTICALS LIMITED.
Sotac Pharmaceuticals Limited is proposing, subject to market
conditions, public issue of its equity shares and has filed the Prospectus with the
Registrar of Companies, Ahmedabad. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Lead Manager at
www.beelinemb.com, website of the NSE at www.nseindia.com
and website of Issuer Company at www.sotacpharma.com
Investors should note that investment in Equity Shares involves a high degree of risk For
details, investors shall refer to and rely on the Prospectus including the section titled
"Risk Factors" beginning on page 42 of the Prospectus, which has been filed with
ROC. The Equity Shares have not been and will not be registered under the US Securities
Act (the "Securities Act") or any state securities law in United States and may
not be Issued or sold within the United States or to, or for the account or benefit of,
"U.S. persons" (as defined in the Regulation S under the Securities Act), except
pursuant to an exemption from, or in a transaction not subject to the registration
requirements of the Securities Act of 1933.