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 PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
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BEEZAASAN EXPLOTECH LIMITED |
CIN: U24111GJ2013PLC076499 |
Our company was originally formed as Private Limited Company under the name "Beezaasan Explotech Private Limited" under the provisions of the Companies Act, 1956 vide Certificate of the Companies Act, 1956 vide Certificate of Incorporation dated August 21, 2013 issued by the Registrar of Companies, Gujarat, Oadra and Nagar Havelli. Subsequently, the status of the Company was changed to Public Limited and the name of our Company was changed to "Beezaasan Explotech Limited" vide Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting ot our Company held on May 15, 2024. The fresh certificate of incorporation consequent to conversion was issued on July 30,2024 by the Registrar of Companies, Central Processing Centre. The Corporate Identification Number of our Company is U24111GJ2013PLC076499. For further details on Incorporation and Registered Office of our Company, see "History and Certain Corporate Matters" beginning on page 221 of the Prospectus.
Registered office: 5th Floor 511 Pramukh Tangent Complex Sargasan Cross Road S.G. Highway Gandhinagar Gujarat 382421 India Corporate Ottice: Opposite LIC Office Palace Road Himatnagar Dist: Sabarkantha Himatnagar Gujarat 383001. India. |
Tel: +91 6359607701 E mail: investors@beezaasan.in Website: www.beezaasan.com |
Contact Person: Ms. Ankita Choudhury Company Secretary and Compliance Officer |
THE PROMOTERS OF OUR COMPANY ARE MR. NAVNEETKUMAR RADHESHYAM SOMANI MR. SUNILKUMAR RADHESHYAM |
SOMANI MR. RAJAN SUNILKUMAR SOMANI M/S. NAVNEET R SOMANI HUF AND M/S. SUNIL R. SOMANI HUF |
"THE ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER IX DF THE SEBIICDR REGULATIONS (IPO OF SMALL AND MEDIUM ENTERPRISES) AND THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE (BSE SME)." |
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF 34.24,800 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH ( "EQUITY SHARES") OF BEEZAASAN EXPLOTECH LIMITED ("BEEZAASAN EXPLOTECH", OR "OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF RS 175/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS 5,993.40 LAKHS ("THE ISSUE"), OF WHICH 1,76,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FOR CASH AT A PRICE OF RS 175/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE AGGREGATING TO RS 308.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e., NET ISSUE OF 32,48,800 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH AT A PRICE OF RS 175/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE AGGREGATING TO RS 5,685.40 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.51 % AND 25.14 % RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
ISSUE PRICE: RS 175/- PER EQUITY SHARE OF FACE VALUE RS 10/- EACH. |
ANCHOR INVESTOR ISSUE PRICE: RS 175.00 PER EQUITY SHARE THE ISSUE PRICE |
IS 17.5 TIMES OF THE FACE VALUE |
ISSUE PROGRAM | ANCHOR INVESTOR BIDDING DATE WAS: THURSDAY, FEBRUARY 20, 2025 |
BID/ISSUE OPENED ON: FRIDAY, FEBRUARY 21, 2025 | |
BID/ISSUE CLOSED ON: TUESDAY, FEBRUARY 25, 2025 |
RISKS 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 Merchant Banker associated with the Issue has handled 2 public issue in the past three years which has not closed below the Issue Price on Listing date.
3. The average cost of acquisition of Equity Shares by our Promoters is as follows:
Sr. No. | Name of Promoters |
No of Equity Shares held | Average cost ot Acquisition (in Rs) |
1. | Mr. Navneetkumar Radheshyam Somani | 32,92,602 | 7.81 |
2. | Mr Sunilkumar Radheshyam Somani | 32,75,975 | 7.31 |
3. | Mr Rajan Sunilkumar Somani | 3.83.313 | 2.52 |
4. | M/s. Navneet R Somani HUF | 10 | 10 |
5. | M/s. Sunil R. Somani HUF | 10 | 10 |
4. Weighted average cost of acquisition:
Types of transactions | Weighted average cost of acquisition (Rs per Equity Shares) |
Weighted average cost of acquisition of primary. | 19.00/- |
Weighted average cost of acquisition of pnmary after giving effect of Bonus Issue | Nil |
Weighted average cost of acquisition for secondary sale / acquisition of shares. | Nil |
The Issue was being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 of the SEBIICDR Regulations and in compliance with Regulation 253 of the SEBIICDR Regulations wherein not more than 50% ot the Net Issue was available tor allocation on a proportionate basis to Qualified Institutional Buyers (QIBs') (the QIB Portion"). Our Company in consultation with the BRLMs allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the Anchor Investor Portion"). Further, not less than 15% of the Net Issue was made available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Net Issue was 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 potential Bidders (except Anchor Investors) were required to mandatorily utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 363 of the Prospectus.
The bidding for Anchor investors opened and closed on Thursday, February 20, 2025. The Company received 10 Anchor Investor Application Forms from 10 Anchor Investors (including Nil mutual funds through Nil Mutual Fund schemes) for Nil Equity Shares. Such 10 Anchor Investors through 10 Anchor Investor Application Forms were allocated 9,68,000 Equity Shares at a price of Rs. 175.00 per Equity Share under the Anchor Investor Portion, aggregating to Rs. 1,694.00 Lakhs.
The issue (excluding Anchor Investor Portion) received 3,544 applications tor 12,588,800 Equity Shares (before technical rejections and after invalid bids Multiple,'Duplicate) resulting in 5.12 times subscnption (including reserved portion of market maker). The Details of the Applications received from various categories (before technical rejection) are as under:
Detail of the Applications Received:
Sr. No. | Category | No of applications* | No of shares | Amount | Reserved | No of times subscription |
1 | MARKET MAKER | 1 | 176.000 | 30.800.000 | 176.000 | 1 00 |
2 | QIB (Excluding Anchor Investor) | 10 | 7,530,400 | 1,317.820,000 | 653.600 | 11.52 |
3 | NIB | 289 | 2.287.200 | 400.179.200 | 488.800 | 4 68 |
4 | RETAIL | 3.244 | 2,595,200 | 453,817.600 | 1,138,400 | 2.28 |
TOTAL | 3.544 | 12,588.800 | 2.202.616.800 | 2,456,800 | 5.12 |
This excludes 34 applications for 27.200 Equity Shares from Retail Individual which were not in bid book but which were banked.
Final Demand
A summary of the final demand as per BSE as on the Bid/lssue Closing Date at different Bid Prices is as under:
Sr. No. | Bid Price | No. ol Applications | Sum Quantity | Cumulative Share | % to Total |
1 | 165 | 77 | 1.04 | 77 | 1.04 |
2 | 166 | 3 | 0.04 | 80 | 1.08 |
3 | 167 | 1 | 0.01 | 81 | 1.09 |
4 | 168 | 2 | 0.03 | 83 | 1.12 |
5 | 169 | 1 | 0.01 | 84 | 1.13 |
6 | 170 | 17 | 0.23 | 101 | 1.36 |
7 | 171 | 1 | 0.01 | 102 | 1.37 |
8 | 172 | 4 | 0.05 | 106 | 1.43 |
9 | 173 | 4 | 0.05 | 110 | 1.48 |
10 | 174 | 6 | 0.08 | 116 | 1.56 |
11 | 175 | 3,354 | 45.16 | 3.470 | 46.72 |
CUTOFF | 3.957 | 53.28 | 7.427 | 100.00 | |
TOTAL | 7,427 | 100.00 |
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on February 27,2025.
1) Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off Price or at or above the Issue Price of Rs 175.00 per equity shares, was finalized in consultation with BSE. The category was subscribed by 2.20520 times i.e. for 2.510,400 Equity Shares. Total number of shares allotted in this category is 1,138,400 Equity Shares to 1,423 successful applicants. The category wise details of the Basis of Allotment are as under:
No. of Shares applied for (Category wise) | Number of applications received | % of Total | Total No. of Equity Shares applied in this category | % to Total | Proportionate Shares available | Ratio of allottees to aoolicants | Number of successful applicants (after rounding) | Total No. of shares allocate allotted | Surplus/ Deficit |
800 | 3.138 | 100 00 | 2 510-100 | 100 on | 1.138.400 | 39 | 86 | 1.423 | 1.138.400 |
Total | 3,138 | 100.00 | 2.610.400 | 100.00 | 1,138,400 | 1,423 | 1,138,400 | 0 |
2) Allocation to Non-lnstitutional Investors (After Technical Rejections): The Basis of Allotment to Other than Retail Individual Investors, who have bid at Issue Price of 1 175.00 per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 4.63502 times i.e., for 2,265.600 shares, the total number of shares allotted in this category is 488.800 Equity Shares to 204 successful applicants. The category wise details of the Basis of Allotment are as under:
Sr. No. | No. of Shares applied for (Category wise) | Number of applications received | %of Total | Total No. of Equity Shares applied in this category | %to Total | Proportionate Shares available | Ratio of allottees to applicants | Total No. of shares allocated/ alloted | Surplus/ Oeticit (14)-(7) | |
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (10) | (14) | (16) | |
1 | 1600 | 103 | 3665 | 164.800 | 7.27 | 35,555 | 44 | 103 | 35200 | -355 |
2 | 2400 | 48 | 17.08 | 115.200 | 5.08 | 24,854 | 31 | 48 | 24800 | -54 |
3 | 3200 | 8 | 285 | 25,600 | 1.13 | 5,523 | 7 | 8 | 5600 | 77 |
4 | 4000 | 14 | 4.98 | 56,000 | 2.47 | 12,082 | 1 | 1 | 11200 | -882 |
1 | 14 | 800 | 800 | |||||||
5 | 4800 | 5 | 1.78 | 24,000 | 1.06 | 5,178 | 1 | 1 | 4000 | -1178 |
1 | 5 | 800 | 800 | |||||||
6 | 5600 | 16 | 569 | 89,600 | 3.95 | 19,331 | 1 | 1 | 12800 | -6531 |
1 | 2 | 6400 | 6400 | |||||||
7 | 6400 | 12 | 4.27 | 76,800 | 3.39 | 16,569 | 1 | 1 | 9600 | -6969 |
3 | 4 | 7200 | 7200 | |||||||
8 | 7200 | 5 | 1.78 | 36,000 | 1.59 | 7,767 | 1 | 1 | 8000 | 233 |
9 | 8000 | 17 | 605 | 136,000 | 6.00 | 29.342 | 1 | 1 | 27200 | -2142 |
3 | 17 | 2400 | 2400 | |||||||
10 | 8800 | 2 | 0.71 | 17.600 | 0.78 | 3.797 | 1 | 1 | 3200 | -597 |
1 | 2 | 800 | 800 | |||||||
11 | 9600 | 5 | 1.78 | 48.000 | 2.12 | 10,356 | 1 | 1 | 8000 | -2356 |
3 | 5 | 2400 | 2400 | |||||||
12 | 11200 | 2 | 0.71 | 22.400 | 0.99 | 4,833 | 1 | 1 | 4800 | -33 |
13 | 12000 | 6 | 2.14 | 72.000 | 3.18 | 15.534 | 1 | 1 | 14400 | -1134 |
1 | 6 | 800 | 800 | |||||||
14 | 12800 | 2 | 0.71 | 25.600 | 1.13 | 5.523 | 1 | 1 | 4800 | -723 |
1 | 2 | 800 | 800 | |||||||
15 | 13600 | 1 | 0.36 | 13.600 | 0.60 | 2,934 | 1 | 1 | 3200 | 266 |
16 | 14400 | 7 | 2.49 | 100,800 | 4.45 | 21,747 | 1 | 1 | 16800 | 4947 |
6 | 7 | 4800 | 4800 | |||||||
17 | 15200 | 1 | 0.36 | 15.200 | 0.67 | 3.279 | 1 | 1 | 3200 | -79 |
18 | 16000 | 5 | 1.78 | 80.000 | 3.53 | 17.260 | 1 | 1 | 16000 | -1260 |
2 | 5 | 1600 | 1600 | |||||||
19 | 18400 | 2 | 0.71 | 36.800 | 1.62 | 7,940 | 1 | 1 | 8000 | 60 |
20 | 20000 | 2 | 0.71 | 40,000 | 1.77 | 8,630 | 1 | 1 | 8000 | 630 |
1 | 2 | 800 | 800 | |||||||
21 | 24000 | 4 | 1.42 | 96.000 | 4.24 | 20.712 | 1 | 1 | 19200 | -1512 |
1 | 2 | 1600 | 1600 | |||||||
22 | 25600 | 1 | 0.36 | 25.600 | 1.13 | 5,523 | 1 | 1 | 5600 | 77 |
23 | 32000 | 1 | 0.36 | 32,000 | 1.41 | 6,904 | 1 | 1 | 7200 | s C\J |
24 | 36000 | 1 | 0.36 | 36,000 | 1.59 | 7,767 | 1 | 1 | 8000 | 233 |
25 | 38400 | 1 | 0.36 | 38.400 | 1.69 | 8.285 | 1 | 1 | 8000 | -285 |
26 | 40000 | 1 | 0.36 | 40.000 | 1.77 | 8.630 | 1 | 1 | 8800 | 170 |
27 | 42400 | 1 | 0.36 | 42.400 | 1.87 | 9.148 | 1 | 1 | 8800 | -348 |
28 | 56800 | 1 | 0.36 | 56,800 | 2.51 | 12.255 | 1 | 1 | 12000 | -255 |
29 | 57600 | 2 | 0.71 | 115,200 | 5.08 | 24,854 | 1 | 1 | 24000 | -854 |
1 | 2 | 800 | 800 | |||||||
30 | 64000 | 1 | 0.36 | 64.000 | 2.82 | 13.808 | 1 | 1 | 13600 | -208 |
31 | 72000 | 1 | 0.36 | 72.000 | 3.18 | 15.534 | 1 | 1 | 15200 | -334 |
32 | 102400 | 1 | 0.36 | 102.400 | 4.52 | 22.093 | 1 | 1 | 22400 | 307 |
33 | 171200 | 1 | 0.36 | 171.200 | 7.56 | 36.936 | 1 | 1 | 36800 | -136 |
34 | 177600 | 1 | 0.36 | 177,600 | 7.84 | 38.317 | 1 | 1 | 38400 | 83 |
Total | 281 | 100.00 | 2,265,600 | 100.00 | 488,800 | 488,800 | 0 |
3) Allocation to QIBs excluding Anchor Investors (After Technical Rejections): The Basis of Allotment to OIBs, who have bid at Issue Price of Rs 175.00 per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 11.52142 times i.e., for 7,530,400 shares the total number of shares allotted in this category is 653,600 Equity Shares to 10 successful applicants. The category wise details of the Basis of Allotment are as under:
Category | FIS/BANK'S | MPS | ICS | NBFCS | AIF | FPC/FII | Others | Total |
QIB | - | - | - | - | 133,600 | 520,000 | 653,600 |
4) Allocation to Anchor Investors (After Technical Rejections & Withdrawal): The Company in consultation with the BRLM has allotted 9,68,000 Equity Shares to 10 Anchor Investors at Anchor Investor Issue Price of * 175.00 per equity shares in accordance with the SEBIICDR Regulations. The category wise details of the Basis of Allotment are as under:
Category | FI'S/BANK'S | MF'S | ICS | NBFC'S | AIF | FPI/FPC | Others | Total |
Anchor | - | - | - | 221,600 | 688,000 | 58,400 | 968,000 |
5) Allocation to Market Maker (Alter Technical Rejections): The Basis of Allotment to Market Maker, who have bid at Issue Price of Rs 175.00 per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 1.00 time i.e. for 1,76,000 shares the total number of shares allotted in this category is 1,76,000 Equity Shares. The category wise details of the Basis of Allotment are as under:
No. of Shares applied for ( Category wise) | Number of applications received | %ot 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/ Deficit | |
176,000 | 1 | 100 00 | 176,000 | 100.00 | 176.000 | 1 | 1 | 176,000 | 0 |
Total | 1 | 100.00 | 176,000 | 100.00 | 176.000 | 176,000 | 0 |
The Board of Directors of the Company at its meeting held on February 27. 2025 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE 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 forward to the email id's and address of the Applicants as registered with the depositories / as filled in the application form on or before February 27,2025. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will process on or prior to February 27, 2025. 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 BSE SME within Four 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 February 27, 2025 ("Prospectus") filed with Registrar of Companies. Ahmedabad.
INVESTORS, PLEASE NOTE |
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 Issue 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:
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KFIN TECHNOLOGIES LIMITED |
Selenium Tower-B Plot No.31 & 32 Gachibowli. Financial District, Nanakramguda, Serilingampally, |
Hyderabad 500032 Telangana, India Tel: +91 40 6716 2222 |
Email: bel.ipo@kinfintech.com Website: www.kfintech.com |
Investor grievance e-mail: einward.ris@ktintech.com |
Contact person: Mr. M Murali Krishna SEBI Registration No.: INR000000221 |
For Beezaasan Explotech Limited On behalf of the Board of Directors | |
Sd/- | |
Mr. Navneetkumar Radheshyam Somani | |
Place: Gandhinagar | Designation: Chairman & Managing Director |
Date: February 28, 2025 | DIN: 01782793 |
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 BEEZAASAN EXPLOTECH UMITED.
Beezaasan Explotech 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 SEBl at www.sebi.gov.in, the website of the Book Running Lead Manager at www.shcapl.com website of the BSE at www.bseindia.com and website of Issuer Company at www.beezaasan.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 30 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.
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