| Basis of Allotment |
(This is only an advertisement for Information purposes and not a Prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly outside India)
|
VARYAA CREATIONS LIMITED |
| (FORMERLY KNOWN AS VARYAA CREATIONS PRIVATE LIMITED) | |
| Corporate Identity Number is U36910MH2005PLC154792 |
Our Company was originally incorporated as Kalgi India Private Limited on July 14.2005 under the Companies Act. 1956 vide certificate of incorporation issued by the Registrar of Companies. Mumbai. Subsequently the name of the company was changed from ‘'Kalgi India Private Limited" to "Varyaa Creations Private Limited" under the Companies Act, 2013 pursuant to a special resolution passed by our shareholders at the EGM held on July 04.2016 and had obtained fresh certificate of incorporation July 19.2016 issued by the Registrar of Companies. Mumbai. Thereafter. Our Company was converted in to a public company and consequently name was changed from "Varyaan Creationns Private Limited" to ‘ Varyaa Creations Limited" under the Companies Act, 2013 pursuant to a special resolution passed by our shareholders at the EGM held on July 19.2023 and had obtained fresh certificate of incorporation August 18.2023 issued by the Registrar of Companies, Mumbai. For details pertaining to the changes of name of our company and change in the registered office, please refer to the chapter titled History and Certain Corporate Matters' beginning on page no. 101 of the Prospectus.
| Registered Office: 11, Roor-3rd, Plot 5/1721. Kailash Darshan, Jagannath Shankarseth Marg, Kennedy Bridge. Gamdevi, Grant Road, Mumbai- 400007, Maharashtra. India: |
| Tel. No.: +91 9920558483: Email: info@varyaacreations.com; Website: www.varyaacreations.com; Contact Person: Ms. Akshita Agrav |
| Our Promoters: MRS. POOJA VINEET NAHETA AND MRS. SARIKA AMIT NAHETA |
| "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 the SME Platform of BSE India. ("BSE"). |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF UP T013,40,000 EQUITY SHARES OF RS. 10.00 EACH ( "EQUITY SHARES") OF VARYAA CREATIONS LIMITED ("VARYAA CREATIONS" OR THE "COMPANY") FOR CASH AT A PRICE OF RS. 150.00/- PER EQUITY SHARE (INCLUDING A SHARE PREMUIM OF RS. 140/- PER SHARES) (THE "ISSUE PRICE"), AGGREGATING TO RS. 2010.00 LAKHS ("THE ISSUE"), OUT OF WHICH 70,000 EQUITY SHARES AGGREGATING TO RS. 105.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I E. ISSUE OF 12,70,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH AT AN ISSUE PRICE OF RS. 150.00/- PER EQUITY SHARE AGGREGATING TO RS. 1905.00 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET OFFER WILL CONSTITUTE 27.97% AND 26.51% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, SEE "TERMS OF THE ISSUE" ON PAGE 190 OF THE PROSPECTUS.
| THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- |
| AND FIXED PRICE ISSUE AT Rs. 150/- PER EQUITY SHAREIS 15.00 TIMES OF THE FACE VALUE. |
| ISSUE OPENED ON: APRIL 22, 2024; MONDAY; FRIDAY; ISSUE CLOSED ON: APRIL 25, 2024; THURSDAY |
| RISK 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 ol acquisition of Equity Shares by our Promoters is as follows:
Sr. No. |
Name of the Promoters |
Average cost of Acquisition (in Rs.) |
1. |
Mrs. Pooia Vineet Naheta |
0.43 |
2. |
Mrs. Sarika Amit Naheta |
0.43 |
3. Weighted average cost of acquisition:
Types of transactions |
Weighted average cost of acquisition (Rs. per Equity Shares) |
Issue Price (Rs. 150/- per Equity Share) |
| Weighted average cost of acquisition of primary / new issue of shares. | 0.00 |
0.00 |
| Weighted average cost of acquisition for secondary sale / acquisition of shares | N.A |
N.A. |
There was no secondary sale/acquisition of shares (exceeding 5% of pre issue capital) in last 18 months from the date of the Prospectus. For details, please refer to the chapter titled "Basis for Issue Price" beginning on page 64 of the Prospectus. Investors are required to refer to section titled "Risk Factors" beginning on page 20 of the Prospectus.
The Lead Manager associated with the Offer have handled 9 SME public issues during the current financial year and three financial years preceding the current Financial Year, out of which 7 SME public issues closed below the issue price on the listing date.
| PROPOSED LISTING: April 30, 2024; Tuesday (Subject to the receipt of listing and trading approval from the BSE) |
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 CSEBI (ICDR) Regulations"). In terms of rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules. 1957. as amended, ("the SCRR") this is an issue for at least 25% of the post-issue 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 details, please refer chapter titled "Issue procedure' beginning on page 199 of the Prospectus dated April 12,2024.
| SUBSCRIPTION DETAILS |
As per the Final certificates issued by the SCSB's, Syndicate ASBA & UPI4027 applications for 4615000 Equity Shares have been received and the amount collected- blocked is Rs. 692250000 (After bid not banked cases and before technical rejection). The Issue was subscribed to the extent of 6.66 times as per the bid books of NSE (the "Bid Files") after removing multiple and duplicate bids. 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", the Issue was subscribed 3.33 times. The details of the applications received in the issue (before technical rejections) are as follows:
Detail of the Applications Received (Before Technical Rejection):
Category |
Number of Application(s) received** |
% to Total |
Number of Equity Shares |
% to Total |
Subscription (Times) |
Shares as per Prospectus |
| Market Maker | 1 |
0.02 |
70,000 |
1.52 |
1.00 |
70,000 |
| Other than Retail Individual Investors | 178 |
4.42 |
6,97,000 |
15.10 |
1.10 |
6,35,000 |
| Retail Individual Investors | 3848 |
95.56 |
3848000 |
83.38 |
6.06 |
6,35.000 |
| Total | 4027 |
100.00 |
46.15,000 |
100.00 |
3.44 |
13,40,000 |
**This includes 89 applications tor 89,000 equity shares from Retail investors which were not in book but excludes bids (UPI mandates) not accepted by investors. The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
Category |
No. of Applications * |
No. of Equity Shares |
| Market Maker | - |
- |
| Other than Retail Individual Investors | 3 |
7,000 |
| Retail Individual Investors | 150 |
1,50,000 |
| Total | 153 |
1,57,000 |
'This includes 89 applications for 89,000 equity shares from Retail investors which were not in book but excludes bids (UPI mandates) not accepted by investors.
Detail of the Valid Applications-After eliminating technically rejected applications, the following tables give us category wise net valid applications and allotment:
Category |
Number of valid Applications |
%to Total |
No. of Valid Shares applied |
Issue Size (as per Prospectus) |
No/ of Applications Allotted |
No. of Shares Allotted |
%of Total Allotted |
Subscription (rimes) in relation to Valid Bids |
Revised Subscription (Times) in relation to Shares Allotted |
| Other than Retail Individual Investor's | 175 |
4.52 |
6.90.000 |
6,35,000 |
114 |
1,99,000 |
14.85 |
1.09 |
3.47 |
| Retail Individual Investor's | 3,698 |
95.46 |
36,98,000 |
6,35,000 |
1071 |
10,71,000 |
79.93 |
5.82 |
3.43 |
| MM | 1 |
0.03 |
70,000 |
70,000 |
1 |
70,000 |
5.22 |
1.00 |
1.00 |
| Total | 3,874 |
100.00 |
44,58,000 |
13,40,000 |
1,186 |
13,40,000 |
100.00 |
3.33 |
3.33 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on Friday; April 26,2024 and in view of the explanation provided under regulations 253 (2) of the SEBI (ICDR) Regulation. 2018. the Retail Category has applied for 84.28 % and 15.72 % 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.
A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker was finalised in consultation with BSE. Based on Subscription (Times) in relation to Valid Bids, the category v/as subscribed by 1.00 times. The total number of shares allotted in this category is 70,000 Equity shares.
No. of Shares Applied lor (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 |
70,000 |
1 |
100.00 |
70,000 |
100.00 |
70,000 |
1:1 |
70,000 |
B. Allocation to Retail Individual Investors (Alter Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors was finalized in consultation with BSE. Based on Subscription (Tmes) in relation to Valid Bids, the category was subscribed by 5.82 times i.e.. for 36.98.000 Equity Shares. Total number of shares allotted in this category is 10,71.000 Equity Shares to 1071 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 |
Proporti onate Shares Available |
Allocation per Applicant |
Ratio of Allottee's To Applicant: |
Number of successful applicants(after rounding) |
% to total |
Total No. of Equity Shares allocated/ allotted |
%to total |
Surplus; Deficit |
||
8efore Rounding off) |
(After Rounding off) |
|||||||||||||
1000 |
3698 |
100.00 |
3698000 |
100 00 |
1071000 |
289.62 |
1000 |
11 |
38 |
1071 |
100 00 |
1071000 |
100.00 |
0 |
C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors was finalized in consultation with BSE. Based on Subscription (Times) in relation to Valid Bids, the category was subscribed by 1.09 times i.e., for 6,90,000 shares. The total number of shares allotted in this category is 1,99,000 Equity Shares to 114 successful applicants.
The category wise details of the Basis of Allotment are as under:
Sr. No |
No. of Shares Applied for (Category wise) |
No. 0f Applications received |
% to total |
Total No. of Equity Shares applied in this Category |
%to total |
Proportionate Shares Available |
Allocation per Applicant |
Ration of Allottee s to applicants |
Number of successful applicants(after rounding) |
%to total |
Total No. of shares allocated/ allotted |
% to total |
Surplus/ Deficit |
||
| Before Rounding off | (After Rounding Off) | ||||||||||||||
| 1 | 2000 | 137 | 78.29 | 274000 | 39.71 | 79023 | 576.81 | 1000 | 79 | 137 | 79 | 69.30 | 79000 | 39.69 | -23 |
| 2 | 3000 | 23 | 13.14 | 69000 | 10.00 | 19900 | 865.22 | 1000 | 20 | 23 | 20 | 17.54 | 20000 | 10.05 | 100 |
| 3 | 4000 | 2 | 1.14 | 8000 | 1.16 | 2307 | 1153.5 | 1000 | 1 | 1 | 2 | 1.75 | 2000 | 1.01 | -307 |
| 4 | 5000 | 1 | 057 | 5000 | 0.72 | 1442 | 1442 | 2000 | 1 | 1 | 1 | 0.88 | 2000 | 1.01 | 558 |
| 5 | 6000 | 3 | 1.71 | 18000 | 2.61 | 5191 | 1730.33 | 1000 | 1 | 1 | 3 | 2.63 | 3000 | 1.51 | -2191 |
| 6000 | 0.00 | 0.00 | 1000 | 2 | 3 | 0.00 | 2000 | 1.01 | 2000 | ||||||
| 6 | 7000 | 5 | 2.86 | 35000 | 5.07 | 10094 | 2018.8 | 2000 | 1 | 1 | 5 | 4.39 | 10000 | 5.03 | -94 |
| 7 | 10000 | 1 | 057 | 10000 | 145 | 2884 | 2884 | 3000 | 1 | 1 | 1 | 0,88 | 3000 | 1.51 | 116 |
| 8 | 11000 | 1 | 0.57 | 11000 | 1.59 | 3173 | 3172 | 3000 | 1 | 1 | 1 | 0.88 | 3000 | 1.51 | -173 |
| 9 | 20000 | 1 | 0.57 | 20000 | 2.90 | 5768 | 5768 | 6000 | 1 | 1 | 1 | 0.88 | 6000 | 3.02 | 232 |
| 10 | 240000 | 1 | 0.57 | 240000 | 34.78 | 69218 | 69217 | 69000 | 1 | 1 | 1 | 0.88 | 69000 | 34.66 | -218 |
GRAND TOTAL |
175 | 100.00 | 690000 | 100.00 | 199000 | 114 | 100.00 | 199000 | 100.00 | 0 | |||||
The Board of Directors of the Company at its meeting held on April 26, 2024 has taken on record the Basis of Allocation of Equity Shares and as approved by the Designated Stock Exchange viz. BSE on April 26,2024 and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and/or notices are dispatched to the address of the Applicants as registered with the depositories on or before April 29. 2024. Further, the instructions to Self-Certified Syndicate Banks for unblocking the amount were being processed on or before April 29.2024. 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. In case the same is not received within four 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 or before April 29,2024 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 8SE and the trading of the equity shares is expected to commence trading on April 30.2024.
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated April 12, 2024 ("Prospectus").
INVESTORS. PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue- Bigshare Services Pnvate 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. applicants DP ID. Client ID. PAN, date of submission of the Bid cum Application Form, address of the applicants. Bank Branch where the application had been submitted, copy of the acknowledgement Slip and payment details at the address of the Registrar given below:
 |
BIGSHARE SERVICES PRIVATE LIMITED |
| S6-2,6th Floor. Pinnacle Business Park. Mahakali Caves Road. Next To Ahura Centre, Andheri East. Mumbai - 400 093. Maharashtra. India | |
| Tel No.:+91 2262638200 | |
| E-mail: ipo@bigshareonline.com | |
| Investor Grievance Email: investor@bigshareonline.com | |
| Website: www.bigshare.com | |
| Contact Person : Mr. Asif Sayeed | |
| SEBI Registration No.: INR000001385 |
For VARYAA CREATIONS LIMITED |
|
On behalf of the Board of Directors |
|
Sd/- |
|
Pooja Vineel Naheta |
|
| Dale: April 27, 2024 | Managing Director |
| Place: Mumbai | DIN:03548285 |
The 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 Varyaa Creations Limited. Declaimer: Varyaa Creations Limited has filled the Prospectus dated April 12. 2024 with the Registrar of Companies. Mumbai. SEBI and the Stock Exchange. The Prospectus is available on the respective websites of the Lead Manager at www.inventuremerchantbanker.com. BSE at www.bseindia.com and Issuer Company at www.varyaacreations.com. 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 20 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act 1953, 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 v/here such Issue and sales are made. There will be no public issuing in the United States.
|
Close
|