(This is only an advertisement for
information purposes and is not a prospectus announcement)
 |
SANCODE
TECHNOLOGIES LIMITED |
| Corporate Identification Number:
U74900MH2016PLC280315 |
Our company was originally incorporated as a Private Limited company
under the name "ZNL Startup Advisory Private Limited" under the provisions of
the Companies Act, 2013 vide Certificate of Incorporation dated April 28, 2016 issued by
the Central Registration Centre for and on behalf of the jurisdictional Registrar of
Companies. Subsequently, the name of our Company was changed to "Sancode Technologies
Private Limited" vide special resolution passed by the Shareholders at the Extra
Ordinary General Meeting held on October 04, 2022 and a Fresh Certificate of Incorporation
pursuant to change of name was issued by Registrar of Companies, Mumbai, Maharashtra dated
November 18, 2022. The status of our Company was changed to public limited and the name of
our Company was changed to "Sancode Technologies Limited" vide special
resolution dated December 12, 2022. The fresh certificate of incorporation consequent to
conversion was issued on January 02, 2023 by the Registrar of Companies, Mumbai. The
Corporate Identification Number of our Company is U74900MH2016PLC280315, For further
details on Incorporation and changes in the registered office of our company, please refer
to the chapter titled "History and Certain Corporate Matters" beginning on page
122 of the Prospectus.
| Registered Office:
107, Prime Plaza, J.V. Patel Compound, B.M. Road, Opp. Elphinstone Station, Mumbai -
400013, Maharashtra, India; |
| Tel:
022-49622853 | E-mail: investor@sancodetech.com
| Website: https://www.sancodetech.com/; |
| Contact Person:
Narendra Gupta. Company Secretary and Compliance Officer |
| PROMOTERS OF OUR
COMPANY: AMIT VIJAY JAIN, KHUSHBOO JAIN, MIHIR DEEPAK VORA AND ZNL STARTUP ACCELERATOR LLP |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 10,95,000 EQUITY SHARES OF FACE VALUE OF Rs.
10/- EACH ("EQUITY SHARES") OF SANCODE TECHNOLOGIES LIMITED ("SANCODE"
OR "OUR COMPANY") FOR CASH AT A PRICE OF Rs. 47/- PER EQUITY (INCLUDING A
PREMIUM OF Rs. 37/-PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs. 514.65
LAKHS ("THE ISSUE") OF WHICH 57,000 EQUITY SHARES AGGREGATING TO Rs. 26.79 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
10,38,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH AT AN ISSUE PRICE OF Rs. 47/- PER
EQUITY SHARE AGGREGATING TO Rs. 487.86 LAKHS ("NET ISSUE"). THE ISSUE AND THE
NET ISSUE WILL CONSTITUTE 26.91% AND 25.51% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL
OF OUR COMPANY.
| THE FACE VALUE OF THE
EQUITY SHARES IS Rs. 10/- AND THE ISSUE PRICE IS 4.7 TIMES OF THE FACE VALUE |
| ISSUE |
ISSUE
OPENED ON: MARCH 31, 2023 |
| ISSUE CLOSED ON: APRIL 06, 2023 |
| 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 set forth in the table below: |
| S. No. |
Name
of the Promoters |
No.
of Equity Shares held |
Average
cost of Acquisition (in Rs.) |
| 1. |
Amit
Vijay Jain |
2,02,293 |
0.77 |
| 2. |
Khushboo
Jain |
11,83,000 |
0.77 |
| 3. |
Mihir
Deepak Vora |
74,347 |
10.28 |
| 4. |
ZNL
Startup Accelerator LLP |
14,38,881 |
0.04 |
| Investors are required to refer section titled
"Risk Factors" beginning on page 25 of the Prospectus. |
Our Company has filed the Prospectus dated March 25, 2023 with the ROC,
Mumbai, Maharashtra (the "Prospectus"). The Equity Shares of the Company
are proposed to be listed on the SME Platform of BSE i.e., BSE SME, in terms of the
Chapter IX of the SE8I (ICDR) Regulations, 2018 as amended from time to time. Our Company
has received an In-Principle approval from BSE for the testing of the Equity Shares
pursuant to letter dated March 24, 2023. BSE is the Designated Stock Exchange for the
purpose of this Issue. The trading is to be commenced on April 18, 2023 (Subject to
receipt of listing and trading approvals from the BSE).
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 Designation 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 irrespective bank accounts
and/ or UPI IDs. in case of RIIs. if applicable, which will be blocked by the Self
Certified Syndicate Banks ("SCSBs") for the same.
The Net Issue has received 663 applications before technical rejections
for 37,71,000 Equity Shares resulting in times 3.63 subscription. The details of the
applications received in the Net issue (before and alter technical rejections &
withdrawal) are as follows:
Detail of the Applications Received
| Category |
Before Technical Rejections 4 Withdrawals |
After Technical Rejections 4 Withdrawals |
| No. of Applications |
No.
of Equity Shares |
No.
of Applications |
No.
of Equity Shares |
| Retail Individual Investors |
587 |
17,61,000 |
567 |
17,01,000 |
| Other than Retail Individual Investors |
76 |
20,10,000 |
75 |
19,68,000 |
| Total |
663 |
37,71,000 |
642 |
36,69,000 |
Note:
1. The Net Issue (Joes not include 57,000 Equity Shares reserved for
Market Maker, which was subscribed by 1.00 time,
2. There were 21 Technical Rejections for 1,02,000 Equity Shares &
no withdrawal of any application in any category.
The shares available for allotment have been arrived in the equal
proportion of the respective over subscription ratio of Retail Individual Investors and
Other than Retail Individual Investors category. In view of the explanation provided under
regulations 253 (2) of the SEBI (ICDR) Regulations, 2018, the Retail Individual Investors
Category has applied for 46.36% and 53.64% by Other than Retail Individual Investors:
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. In other than Retail Individual Investor Category there was over subscription
of 20,10,000 Equity Shares before technical rejection and 19,68,000 Equity Shares after
technical rejection. In Retail Individual Investors Category there was over subscription
of 17,61,000 Equity Shares before technical rejection and 17,01,000 Equity Shares after
technical rejection. The Basis of Allotment was finalised in consultation with the
Designated Stock Exchange - BSE on April 12, 2023.
| A) |
Allocation to Market Maker
(After Technical Rejections & Withdrawals): The Basis of Allotment to the Market
Maker, at the Issue Price of Rs. 47/- per Equity Share, was finalised in consultation with
BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this
category is 57,000 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 |
| 57,000 |
1 |
100 |
57,000 |
100 |
57,000 |
1:1 |
57,000 |
| 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. 47/- per Equity
Share, was finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SE8I
(ICDR) Regulations,,2018, the total number of shares allocated in this category is
5,19,000 Equity Shares. The category was subscribed by 3.28 times. The category-wise
details of the Basis of Allotment are as under: |
| No. of Shares Applied (or |
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 |
567 |
100 |
17,01,000 |
100 |
3,000 |
173:567 |
5,19,000 |
| C) |
Allocation to Other than
Retail Category (After Technical Rejections & Withdrawals): The Basis of Allotment
to the Non-Retail Investors, at the Issue Price of Rs. 47/- per Equity Share, was
finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR)
Regulations, 2018, the total number of shares allocated in this category is 5,19,000
Equity Shares. The category was subscribed by 3.79 times. 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 Shares applied in each category |
%
to Total |
Allocation perApplicant |
Ratio
of Allottees to the Applicant |
Total
No. of Shares allocated/ allotted |
| 6,000 |
10 |
13.33 |
60,000 |
3.05 |
3,000 |
1:2 |
15,000 |
| 9,000 |
15 |
20.00 |
1,35,000 |
6.86 |
3,000 |
4:5 |
36,000 |
| 12,000 |
3 |
4.00 |
36,000 |
1.83 |
3,000 |
1:1 |
9,000 |
| 15,000 |
7 |
9.33 |
1,05,000 |
5.34 |
3,000 |
1:1 |
21,000 |
| 18,000 |
6 |
8.00 |
1,08,000 |
5.49 |
3,000 |
1:1 |
18,000 |
| 21,000 |
3 |
4.00 |
63,000 |
3.20 |
6,000 |
1:1 |
18,000 |
| 24,000 |
6 |
8.00 |
1,44,000 |
7.32 |
6,000 |
1:1 |
36,000 |
| 30,000 |
7 |
9.33 |
2,10,000 |
10.67 |
6,000 |
1:1 |
42,000 |
| 36,000 |
1 |
1.33 |
36,000 |
1.83 |
9,000 |
1:1 |
9,000 |
| 39,000 |
1 |
1.33 |
39,000 |
1.98 |
9,000 |
1:1 |
9.000 |
| 42,000 |
8 |
10.67 |
3,36,000 |
17.07 |
9,000 |
1:1 |
72,000 |
| 45,000 |
2 |
2.67 |
90,000 |
4.57 |
12,000 |
1:1 |
24,000 |
| 54,000 |
1 |
1.33 |
54,000 |
2.74 |
15,000 |
1:1 |
15,000 |
The Board of Directors of the Company at Its meeting hew on April 12,
2023, has taken on record the Basis of Allotment of Equity Shares, as approved by the
Designated Stock Exchange viz. BSE 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 April 13, 2023.
Further, the instructions to Self-Certified Syndicate Banks has been processed on April
12, 2023 for unblocking of funds. The Equity Shares allotted to successful applicants are
being credited to their beneficiary accounts subject to validation o1 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 SME Platform of BSE
within 5 working days from the Closure of the Issue. The trading is proposed to be
commenced on April 18, 2023 subject to receipt of testing and trading approvals from BSE.
Note: All capitalized terms used and not defined herein shall have
the respective meanings assigned to them in the Prospectus dated March 25, 2023 ("Prospectus'').
The details of the allotment made has been 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 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 |
| Office
No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, |
| Andheri
East, Mumbai - 400 093, Maharashtra, India. |
| Telephone:
022-6263 8200 | E-mail: ipo@bigshareonline.com |
| Investor
grievance E-mail: investor@bigshareonline.com |
| Website:
www.bigsharesonline.com |
| Contact
Person: Swapnil Kate |
| SEBI
Registration No.: INR000001385 |
|
For SANCOOE TECHNOLOGIES
LIMITED |
|
Sd/- |
|
Mihir Deepak Vora |
| Place: Mumbai |
Designation: Managing
Director |
| Date: April 13, 2023 |
DIN: 08602271 |
LEVEL OF SUBSCRIPTION SHOULD HOT BE TAKEN TO BE INDICATIVE OF EITHER
THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SANCODE
TECHNOLOGIES LIMITED.
SANCODE TECHNOLOGIES LIMITED is proposing, subject to applicable
statutory and regulatory requirements, receipt of requisite approvals, market conditions
and other considerations, to make a Public Issue of its Equity Shares and has filed
Prospectus with the Registrar of Companies, Mumbai, Maharashtra on March 25, 2023. The
Prospectus is available on websites of the Company, the BSE and the Lead Manager at https://www.sancodetech.com/, www.bseindia.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 25 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.