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.
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SUPER IRON FOUNDRY LIMITED |
THE COMMENCEMENT OF TRADING OF THE EQUITY SHARES OF OUR COMPANY ON THE SME PLATFORM OF BSE LIMITED ("BSE-SME") SHALL BE WITH EFFECT FROM ON WEDNESDAY, MARCH 19, 2025
Our Company was incorporated as Super Iron Foundry Private Limited at Kolkata, West Bengal, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated July 15,1988, issued by the Registrar of Companies, West Bengal at Kolkata. Our Company was converted from a private limited company to a public limited company pursuant to board resolution dated August 30, 2024 and special resolution passed by the i Shareholders at the EGM dated August 31, 2024. Consequently, the name of our Company was changed from 'Super Iron Foundry Private Limited' to Super Iron Foundry Limited' and a fresh certificate of incorporation consequent upon conversion to public company dated September 11,2024 was issued by the Assistant Registrar of Companies/ Deputy Registrar of Companies/ Registrar of Companies, Central Processing Centre. For further details see, "History and Certain Corporate Matters" on page 126 of the Prospectus.
Registered office: Aspiration Vintage, 12, Pretoria Street, 1st floor, Suite 1B, Kolkata 700 071 | Tel: 0334060 3050 | Tel: 0334060 3050 | Corporate Identity Number: U27310WB1988PLC044810 |
Website: www.superironfoundry.com E-mail: cssuperironfoundry.com Contact Person: Sanchita Rameka, Company Secretary and Compliance Officer |
OUR PROMOTERS: ABHISHEK SAKLECHA AKHILESH SAKLECHA NEHA SAKLECHA PRIYANKA SAKLECHA AND ABI TRADING PRIVATE LIMITED |
Type | Fresh Offer Size | OFS Size | Total Offer Size |
FreshOffer | 63,01,200 Equity Shares of Rs 10 aggregating to Rs 6,805.30 lakhs | Nil | 63,01,200 Equity Shares of Rs 10 aggregating to Rs 6,805.30 lakhs |
ISSUE WAS MADE IN ACCORDANCE WITH CHAPTER IX OF THE SEBI ICDR REGULATIONS (IPO OF SMALL AND MEDIUM ENTERPRISES) AND THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE LIMITED (BSESME/BSE).
Our company has filed Prospectus dated March 3, 2025 with Registrar of Companies. West Bengal at Kolkata. The Equity shares are proposed to be listed on SME Platform of BSE Limited (BSE /SME BSE) and trading will commence on Wednesday. March 19, 2025.
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF TO 63,01,200 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES") OF OUR COMPANY AT AN OFFER PRICE OF RS 108 PER EQUITY SHARE
(INCLUDING A SHARE PREMIUM OF RS 98 PER EQUITY SHARE) FOR CASH, AGGREGATING TO RS 6,805.30 LAKHS ("PUBLIC OFFER") OUT OF WHICH 3,15,600 EQUITY SHARES OF FACE VALUE OF RS 10 EACH, AT AN ISSUE PRICE OF RS 108 PER EQUITY SHARE FOR CASH, AGGREGATING f 340.85 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE PUBLIC ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 59,85,600 EQUITY SHARES OF FACE VALUE OF RS 10 EACH, AT AN ISSUE PRICE OF RS 108 PER EQUITY SHARE FOR CASH, AGGREGATING TO RS 6,464.45 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE CONSTITUTE 26.94% AND 25.59% RESPECTIVELY OF THE POST- ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
RISKS TO INVESTORS |
Our manufacturing facility is located in Durgapur, District Burdwan, West Bengal. Any disruption, breakdown or shutdown of our manufacturing facility may have a material adverse effect on our business, financial condition, results of operations and cash flow.
Our manufacturing activity is subject to availability of raw material and the costs of the raw materials. Any shortage in availability or fluctuations in raw material prices, may have a material adverse effect on our business, financial condition, results of operations and cash flows.
Conflicts of interest may arise out of common business objects shared by our Company and our Promoters, which may affect our business, results of operations and financial conditions.
A significant majority of our revenues from operations are derived from a limited number of customers.
We do not own our Registered Office. A failure to renew our existing arrangement at commercially favourable terms or at all may have a material adverse effect on our business, financial condition and results of operation
Average cost of acquisition of Equity Shares for the Promoters are as under:
NAME | WACA in Rs per equity share |
Abhishek Saklecha | 0.07 |
Akhilesh Saklecha | 0.04 |
ABI Trading Private Limited | 27.43 |
Neha Saklecha | 15.00 |
Priyanka Saklecha | 15.00 |
The Issue Price is Rs 108.00 per Equity Share.
The Weighted average cost of acquisition compared to floor price and cap price:
Types of transactions | Weighted average cost ot acquisition (Rs per Equity Shares) | Issue price (i.e. Rs 108/-) |
WACA of Primary Issuance (except for bonus issue) (exceeding 5% of the pre issue capital preceding 30 days from the date of Prospectus) | Nil | N.A. |
WACA for secondary sale / acquisition (exceeding 5% of the pre issue capital preceding 30 days the date of Prospectus) | Nil | N.A. |
The Weighted average cost of acquisition of all Equity Shares transacted in the last one year, 18 months and three years from the date of Prospectus is as given below:
Period | Weighted Average Cost of Acquisition* (in Rs) | Issue Price (Rs 108.00) is 'X" times the weighted Average cost of Acquisition | Range of acquisition price: Lowest Price - Highest Price (in Rs) |
Last 1 year/ Last 18 months | 76.00 | 1.42 times | Rs 76/- - Rs 76/- |
Last 3 years | 0.01* | Negligible | Rs NIL - Rs 76/- |
A total of 2,04,320 Equity Shares were acquired during last 5 transactions, out of which 2,04,300 Equity Shares were acquired through transmission upon the death of late Nanda Saklecha.
BID/ISSUE PROGRAMME | BID/ISSUE OPENED ONTUESDAY, MARCH 11, 2025 |
BID/ISSUE CLOSED ON THURSDAY, MARCH 13, 2025 |
THE FACE VALUE OF THE EQUITY SHARES IS Rs 10.00/- EACH |
THE ISSUE PRICE IS Rs 108.00 PER EQUITY SHARE. THE ISSUE PRICE IS 10.8 |
TIMES OF THE FACE VALUE OF THE EQUITY SHARES |
PROPOSED LISTING : The Equity Shares of the Company offered through the Prospectus dated March 3, 2025 are proposed to be listed on the SME Platform of BSE Limited ("BSE-SME") of 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 February 1,2025, from BSE Limited for listing our shares and also for using its name in the Issue document for listing of our shares on BSE-SME. It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Issue Document has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the Issue Document. For the purpose of this issue the Designated Stock Exchange was BSE-SME. The trading is proposed to be commenced on or before March 19,2025 (Subject to receipt of listing and trading approval from BSE Limited).
This Issue was made through the Fixed Price Mechanism, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 (2) 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 was made available for allocation on a proportionate basis to Retail individual investors and 50.00% of the Net Issue was made available for allocation on a proportionate basis to Other than Retail individual investors in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at the Issue Price. All Bidders are required to participate in the Issue by mandatorily 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 were 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. Anchor Investors are not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 224 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.
SUBSCRIPTION DETAILS |
DETAILS OF THE APPLICATION : The Issue received 4,430 Applications for 92,52,000 Equity Shares (before rejections) resulting in 1.47 times subscription (including reserved portion of market maker).
The details of the Applications received in the Issue from various categories are as under: (before rejections):
DETAILS OF APPLICATIONS RECEIVED (before rejection)
Category | Number of applications | Number of equity shares Bid for | Number of equity shares reserved as per Prospectus | Number of times subscribed |
Retail Individual Investors | 4,101 | 49,21,200 | 7,53,600 | 1.64 |
Non Retail Investors | 328 | 40,15,200 | 7,53,600 | 1.34 |
Market Maker | 1 | 3,15,600 | 3,15,600 | 1.00 |
TOTAL | 4,430 | 92,52,000 | 15,87,600 | 1.47 |
DETAILS OF VALID APPLICATIONS :
Sr. No | Category | Gross | Less: Valid Rejections | Valid | Allotment | ||||
Applications | Equity Shares | Applications | Equity Shares | Applications | Equity Shares | Allottees | Equity Shares | ||
1 | Retail Individual Investors | 4,101 | 49,21,200 | 79 | 94,800 | 4,022 | 48,26,400 | 2,726 | 32,71,200 |
2 | Other than Retail Individual Investors | 328 | 40,15,200 | 4 | 10,800 | 324 | 40,04,400 | 324 | 27,14,400 |
3 | Reserved for Market Maker | 1 | 3,15,600 | - | - | 1 | 3,15,600 | 1 | 3,15,600 |
Total | 4,430 | 92,52,000 | 83 | 1,05,600 | 4,347 | 91,46,400 | 3,051 | 63,01,200 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange i.e.BSE Limited on March 17, 2025.
Allocation to Market Maker (After Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 108/- per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 3,15,600 Equity shares in full out of reserved portion of 3,15,600 Equity Shares.
Allocation to Retail Individual Investors (After Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 108/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1 61times. The total number of shares allotted in this category is 32,71,200 Equity shares based on the Proportionate shares availableas per the Fixed Price Mechanism.
No. of Shares applied for (Category wise) | Number of applications received | %of Total | Total No. of Shares applied in each category | %to Total | Ratio of allottees to applicants | Total No. of shares allocated/ allotted | %to total | Surplus / Deficit | |
2,400 | 141 | 43.519 | 338400 | 8.45 | 1 | 1 | 169200 | 6.233 | (60,185) |
50 | 141 | 60000 | 2.21 | 60,000 | |||||
3,600 | 33 | 10.185 | 118800 | 2.97 | 1 | 1 | 79200 | 2.918 | (1,329) |
1 | 33 | 1200 | 0.044 | 1,200 | |||||
4,800 | 10 | 3.086 | 48000 | 1.20 | 1 | 1 | 24000 | 0.884 | (8,537) |
7 | 10 | 8400 | 0.309 | 8,400 | |||||
6,000 | 4 | 1.235 | 24000 | 0.60 | 1 | 1 | 14400 | 0.531 | (1,869) |
2 | 4 | 2400 | 0.088 | 2,400 | |||||
7,200 | 1 | 0.309 | 7200 | 0.18 | 1 | 1 | 4800 | 0.177 | (81) |
8,400 | 3 | 0.926 | 25200 | 0.63 | 1 | 1 | 14400 | 0.531 | (2,682) |
2 | 3 | 2400 | 0.088 | 2.400 | |||||
9,600 | 83 | 25.617 | 796800 | 19.90 | 1 | 1 | 498000 | 18.347 | (42,114) |
35 | 83 | 42000 | 1.547 | 42,000 | |||||
10,800 | 1 | 0.309 | 10800 | 0.27 | 1 | 1 | 7200 | 0.265 | (121) |
14,400 | 4 | 1.235 | 57600 | 1.44 | 1 | 1 | 38400 | 1.415 | (644) |
1 | 4 | 1200 | 0.044 | 1.200 | |||||
15,600 | 2 | 0.617 | 31200 | 0.78 | 1 | 1 | 21600 | 0.796 | 451 |
16800 | 1 | 0.309 | 16800 | 0.42 | 1 | 1 | 10800 | 0.398 | (588) |
18000 | 2 | 0.617 | 36000 | 0.899 | 1 | 1 | 24000 | 0.884 | (403) |
19200 | 7 | 2.16 | 134400 | 3.356 | 1 | 1 | 84000 | 3.095 | (7.104) |
6 | 7 | 7200 | 0.265 | 7,200 | |||||
20400 | 1 | 0.309 | 20400 | 0.509 | 1 | 1 | 14400 | 0.531 | 572 |
22800 | 1 | 0.309 | 22800 | 0.569 | 1 | 1 | 15600 | 0.575 | 145 |
24000 | 5 | 1.543 | 120000 | 2.997 | 1 | 1 | 78000 | 2.874 | (3,343) |
3 | 5 | 3600 | 0.133 | 3,600 | |||||
28800 | 1 | 0.309 | 28800 | 0.719 | 1 | 1 | 19200 | 0.707 | (322) |
30000 | 1 | 0.309 | 30000 | 0.749 | 1 | 1 | 20400 | 0.752 | 64 |
31200 | 1 | 0.309 | 31200 | 0.779 | 1 | 1 | 21600 | 0.796 | 451 |
45600 | 2 | 0.617 | 91200 | 2.277 | 1 | 1 | 60000 | 2.21 | (1.820) |
1 | 2 | 1200 | 0.044 | 1,200 | |||||
46800 | 7 | 2.16 | 327600 | 8.181 | 1 | 1 | 218400 | 8.046 | (3.665) |
3 | 7 | 3600 | 0.133 | 3.600 | |||||
69600 | 3 | 0.926 | 208800 | 5.214 | 1 | 1 | 140400 | 5.172 | (1,136) |
1 | 3 | 1200 | 0.044 | 1,200 | |||||
74400 | 1 | 0.309 | 74400 | 1.858 | 1 | 1 | 50400 | 1.857 | (32) |
78000 | 1 | 0.309 | 78000 | 1.948 | 1 | 1 | 52800 | 1.945 | (73) |
92400 | 4 | 1.235 | 369600 | 9.23 | 1 | 1 | 249600 | 9.195 | (935) |
1 | 4 | 1200 | 0.044 | 1,200 | |||||
93600 | 1 | 0.309 | 93600 | 2.337 | 1 | 1 | 63600 | 2.343 | 153 |
121200 | 1 | 0.309 | 121200 | 3.027 | 1 | 1 | 81600 | 3.006 | (556) |
369600 | 1 | 0.309 | 369600 | 9.23 | 1 | 1 | 250800 | 9.24 | 265 |
372000 | 1 | 0.309 | 372000 | 9.29 | 1 | 1 | 252000 | 9.284 | (162) |
Total | 324 | 100.00 | 40,04,400 | 100.00 | 27,14,400 | 100.00 |
The Board of Directors of the Company at its meeting held on March 17, 2025, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE Limited 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 and/or Notices are being dispatched to the address of the applicants as registered with the depositories/as filled in the application form on March 17, 2025. Further, the instructions to Self-Certified Syndicate Banks being processed on March 17, 2025, for unblocking fund. In case the same is not received within Two (2) 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 BSE Limited on or before February 27, 2025. The Company is in process of obtaining the listing & the trading approval from BSE Limited and the trading is expected to commence on or before March 19, 2025.
Note: All capitalised terms used and not specifically defined herein shall have the same meaning as Ascribed to them in the Prospectus dated March 3, 2025.
DISCLOSURES PERTAINING TO THE LM'S TRACK RECORD ON PAST ISSUES WITH A BREAKUP OF HANDLING OF IPOS FOR THE LAST 3 YEARS:
Horizon Management Private Limited
TYPE | FY 2021-22 | FY 2022-23 | FY 2023-24 | FY 2025 |
SME IPO | 0 | 0 | 4 | 9 |
MAIN BOARD | 0 | 0 | 0 | 0 |
INVESTORS, PLEASE NOTE |
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, MUFG INTIME INDIA PRIVATE LIMITED at www.linkintime.co.in. 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:
LEAD MANAGER TO THE ISSUE | REGISTRAR TO THE ISSUE | COMPANY SECRETARY AND COMPLIANCE OFFICER |
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Horizon Management Private Limited | MUFG INTIME INDIA PRIVATE LIMITED | SUPER IRON FOUNDRY LIMITED |
19 R N Mukherjee Road, Main Building, | (Formerly Link intime India Private Limited) | Sanchita Ramek - Company Secretary and Compliance Officer |
2nd Floor, Kolkata - 700 001, West Bengal | C-101,1st Floor, 247 Park, L.B.S. Marg | Aspiration Vintage, 12, Pretoria Street,1st Floor, Suite 1B, |
India. Telephone: +91 33 4600 0607 | Vikhroli West, Mumbai 400 083 | Kolkata 700 071 Tel: +91033 4060 3050 |
Facsimile: +91 33 4600 0607 | Maharashtra, India Tel: +91 81081 14949 | Email: cssuperironfoundry.com |
Email ID: smeipohorizon.net.co | Email: superiron.smeipolinkintime.co.in | Website: www.superironfoundry.com |
Website: www.horizonmanagement.in | Website: www.linkintime.co.in | Bidders are advised to contact the Company Secretary and Compliance Officer the LM and/or the Registrar to the Issue in case of any pre-issue or post-issue related problems such as non-receipt of letters of Allotment, credit of Allotted Equity Shares in the respective beneficiary account, non-receipt of funds by electronic mode etc. |
Investor Grievance ID: | Investor Grievance ID: | |
investor.relationshorizon.net.co SEBI Registration Number: INM000012926 | superiron.smeipolinkintime.co.in | |
Contact Person: Manav Goenka | SEBI registration number: INR000004058 |
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Contact Person: Shanti Gopalkrishnan |
For SUPER IRON FOUNDRY LIMITED | |
Sd/- | |
Place: Kolkata |
Sanchita Rameka |
Date: March 18: 2025 |
Company Secretary and Compliance Officer |
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 SUPER IRON FOUNDRY LIMITED
Disclaimer: Super Iron Foundry Limited has filed the Prospectus with the RoC, Kolkata, on March 5, 2025, and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of BSE Limited at https://www.bseindia.com and on the websites of the LM's, at www.horizonmanagement.in and Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 19of the Prospectus. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered 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 offered and sold outside the United States in offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the United States.
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