DARSHAN ORNA LIMITED
(CIN: U36910GJ2011PLC06374S)
Out Company was originally incorporated at Ahmedabad as 'Darshan Orna Private Limited'
on 20th January, 2011 under the provisions of the Companies Act. 1956 vide certificate of
incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Our
Company was converted in to a Public Limited Company and consequently the name was changed
to 'Darenan Orna Limited' vide fresh certificate of incorporation dated 29th May,
2015 issued by the Registrar of Companies. Gujarat, Dadra and Nagar Havelli. For details
of the changes in our name and registered office, please refer to the chapter titled 'History
and Corporate Structure' beginning on page 104 of the Prospectus.
Registered Office: 2018/1. First Floor, Nr Rupa
Surchand Nl Pole, M.G, Haveli Road, Manek Chowk. Ahmedabad. Gujarat - 380 001. India
Tel. No.: +91 792214 2568; Email: info@darshanorna.com Website: www.darshanorna.com
Contact Person: Mrs. Nidhi Jain, Company Secretary & Compliance
Officer
PROMOTERS OF OUR COMPANY: MR. MAHENDRAKUMAR R. SHAH AND MRS.
ARUNABEN M. SHAH
BASIS OF ALLOTMENT
PUBLIC OFFER OF 12.56,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH
('EQUITY SHARES') OF DARSHAN ORNA LIMITED ('OUR COMPANY' OR 'THE
ISSUER') FOR CASH AT A PRICE RS 60/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF
RS 50/- PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 753.60 LAKHS
('THE ISSUE'), OF WHICH 64,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FOR A
CASH PRICE OF RS 60/- PER EQUITY SHARE, AGGREGATING TO RS 38.40 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 11,92,000 EQUITY SHARES OF FACE
VALUE OF RS 10/- EACH AT AN ISSUE PRICE OF RS 60.00 PER EQUITY SHARE AGGREGATING TO RS
715.20 LAKHS (IS HEREINAFTER REFERREDTO AS THE 'NET ISSUE'). THE ISSUE AND THE
NET ISSUE WILL CONSTITUTE 26.36% AND 25.02%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY
SHARE CAPITAL OF OUR COMPANY.
THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR)
REGULATIONS, 2009 AS AMENDED (THE *SE8I REGULATIONS'), OUT OF THE NET ISSUE OF
11,92.000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVALABLE TO RETAIL INDIVIDUAL
INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVESTORS AND OTHER
INVETORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES
APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON
PROPORATIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH AND
THE OFFER PRICE OF RS 60/- I.E. 6 TIMES OF THE FACE VALUE.
ISSUE OPENED ON: MONDAY, MAY 02, 2016 AND ISSUE CLOSED ON:
WEDNESDAY, MAY 11, 2016
PROPOSED LISTING: THURSDAY, MAY 19, 2016
The Equity Shares offered through the Prospectus are proposed to be listed on the
SME Platform of BSE Limited ('BSE) in terms of the Chapter XB of the SEBI (ICDR)
Regulations, 2009, as amended, the Company is not required to obtain an in-principle
listing approval for the shares being offered in this Offer However, the Company has
received an in-principle approval letter dated Aprl 01.2016 from BSE for using its name in
the offer document for listing of its shares on the SME Platform of BSE. For the purpose
of this Offer, the Designated Stock Exchange will be BSE Limited The trading is proposed
to be commenced with effect from Thursday, May 19,2016.*
'Subject to receipt of listing and trading approvals from BSE Limited.
All Applicants were allowed to participate in the issue only through APPLICATIONS
SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details
of their respective bank accounts in which the corresponding application amounts were
blocked by Self Certified Syndicate Banks (the SCSBs').
SUBSCRIPTION DETAILS
The Issue has received 481 applications for 14,24,000 Equity Shares resulting in 1.1338
times subscription (including reserved portion of Market Maker) The details of the
applications received in the issue (before and after technical rejections) are as follows:
Details of the Applications Received:
CATEGORY |
Before Technical
Rejection |
After Technical
Rejection |
No.of Applications |
No.of Equity Shares |
No.of Applications |
No. of Equity Shares |
Retail Individual Applicant |
445 |
8,90,000 |
427 |
8,54,000 |
Other than Retail Individual Investors |
35 |
4.70,000 |
35 |
4,70,000 |
Market Maker |
1 |
64,000 |
1 |
64,000 |
Total |
481 |
1,424.000 |
463 |
1,388,000 |
Allocation: The Basis of Allotment was finalized in
consultation with the Designated Stock Exchange - BSE Limited on Friday, May 13,2016.
A. Allocation to Market Maker (After Technical Rejections):
The Basis of Allotment to the Market Maker at the issue price of Rs 60/- per Equity Share,
was finalized in consultation with BSE. The category was subscribed by 1.00 times. The
total number of shares allotted in this category is 64,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical
Rejections): The Basis of Allotment to the Retail Individual Investors, at the
issue price of Rs 60/- per Equity Share, was finalized in consultation with BSE. The
category was subscribed by 1,10 times. The total number of shares allotted In this
category is 770,000 Equity Shares to 427 successful applicants.
The Category-wise details of the Basis of Allotment are as under:
No.of
shares
applied for
(category wise) |
No.of applicat
ions received |
% To Total |
Total No.of shares applied in each
category |
% To Total |
Proportionate shares
avallable |
Allocation per
Applicant (before
rounding off) |
Allocation per Applicant
(after rounding off) |
Ratio of
allotiees to applicants RATI01 |
Ratio of allotiees to applicants:
RATIO 2 |
Number of successful applicant
(after rounding off) |
Total no of Shares Allocated/
allotted |
No.of Shares Surplus/ Deficit |
2,000 |
427 |
100.00 |
8,54.000 |
100.00 |
7,70,000 |
1,803.28 |
2,000 |
55 |
61 |
385 |
7.70.000 |
0 |
Total |
427 |
100.00 |
8,54,000 |
100.00 |
7,70,000 |
1,803 28 |
2,000 |
55 |
61 |
385 |
7,70.000 |
0 |
C. Allocation to Other than Retail individual
Investors (After Technical Rejections & Withdrawal):
The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 60/-
per Equity Share, was finalized in consultation with BSE. The category was subscribed by
1.11 times. The total number of shares allotted In this category is 422.000 Equity Shams
to 35 successful applicants.
The Category- wise details of the Basis of Allotment are as under;
No.of
shares
applied for
(category wise) |
No.of applicat
ions received |
% To Total |
Total No.of shares applied in each
category |
% To Total |
Proportionate shares
avallable |
Allocation per
Applicant (before
rounding off) |
Allocation per Applicant
(after rounding off) |
Ratio of
allotiees to applicants RATI01 |
Ratio of allotiees to applicants:
RATIO 2 |
Number of successful applicant
(after rounding off) |
Total no of Shares Allocated/
allotted |
No.of Shares Surplus/ Deficit |
4,000 |
16 |
45.71 |
64.000 |
13.62 |
57.464 |
3,591.49 |
4 000 |
1 |
1 |
16 |
64.000 |
-6536 |
8,000 |
2 |
5.71 |
16.000 |
3.40 |
14.366 |
7,182.98 |
6,000 |
1 |
1 |
2 |
12.000 |
2366 |
|
|
|
|
|
|
|
2.000 |
1 |
2 |
1 |
2.000 |
-2000 |
10,000 |
3 |
8,57 |
30.000 |
6.38 |
26.936 |
8,978.72 |
8.000 |
1 |
1 |
3 |
24.000 |
2936 |
12,000 |
1 |
2.86 |
12.000 |
2.55 |
10,774 |
10.774.47 |
10.000 |
1 |
1 |
1 |
10.000 |
774 |
14,000 |
1 |
2.86 |
14.000 |
2.98 |
12.570 |
12.570.21 |
12.000 |
1 |
1 |
1 |
12.000 |
570 |
16,000 |
4 |
11.43 |
64.000 |
13.62 |
57.464 |
14.365.96 |
14.000 |
1 |
1 |
4 |
56.000 |
1464 |
18,000 |
1 |
2.86 |
18.000 |
3.83 |
16.162 |
16.161.70 |
16.000 |
1 |
1 |
1 |
16.000 |
162 |
20.000 |
2 |
5.71 |
40.000 |
8.51 |
35.915 |
17.957.45 |
18.000 |
1 |
1 |
2 |
36.000 |
-85 |
22.000 |
1 |
2.86 |
22.000 |
4.68 |
19.753 |
19.753.19 |
20.000 |
1 |
1 |
1 |
20.000 |
-247 |
24,000 |
1 |
2.86 |
24,000 |
5.11 |
21.549 |
21.548.94 |
22.000 |
1 |
1 |
1 |
22.000 |
-451 |
32.000 |
1 |
2.86 |
32,000 |
6.81 |
28,732 |
28.731.91 |
28 000 |
1 |
1 |
1 |
28.000 |
732 |
66,000 |
1 |
2.86 |
66.000 |
14.04 |
59.260 |
59.259.57 |
60.000 |
1 |
1 |
1 |
60.000 |
-740 |
Total |
35 |
100 |
4.70,000 |
100 |
4.22,000 |
|
|
|
|
35 |
4,22,000 |
0 |
The Board of Directors of the Company at its meeting hold on 16th May.
2016 has taken on record the Basis of Allocation of Equity Shares approved by the
Designated Stock Exchange viz BSE Lid and has authorized the corporate action for
the transfer of the Equity Shares to various successful applicants.
The CAN and allotment advice and/ or notices have been dispatched to the address of the
Applicants as registered with the depositories. Further, the instructions to SCSBs have
been issued on May 13,2016 for unblocking of funds. 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 prescribed time, Investors may contact the registrar to the Issue at the
address given below. The Coirpany is taking steps to get the Equity Shares admitted for
trading on the SME Platform of BSE within Six working days from the date of closure of the
Issue. The trading is proposed to commence on or before May 19, 2016 subject to receipt of
listing and trading approvals from BSE.
Note: All capitalized lerms used and not defined herein shall have the
respective meaning assigned to them in the Prospectus dated April 18, 2016
('Prospectus').
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website
of the Registrar to the lssue, KARVY COMPUTERSHARE PRIVATE LIMITED at
www.karisma.karvy.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 and Bank Branch where the application had been lodged and
payment details at the address of the Registrar given below:
KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli. Financial District,
Nanakramguda.Hyderabad-500032.India
Tel: l-800-34540001/+9l4067162222; Fax:+914023431551
E-mail: einward.ris@karvy.com; Investor Grievance Email:
darshanoma.ipo@karvy.com
Website: www.karisma.karvy.com Contact
Person: Mr. M Mureli Krishna
SEBI Registration No.: INR000000221
Date : May 16,2016
Place : Ahmedabad |
For DARSHAN ORNA LIMITED
On behalf of the Board of Directors
Sd/-
Managing Director |
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 DARSHAN ORNA LIMITED. |