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September 2, 2016 - September 7, 2016

Riddhi Steel IPO Basis of Allotment

Our Company was originally Incorporated on September 07,2001, as Riddhi Steel and Tube Private Limited under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat. Dadra and Nagar Haveli. Our Company was converted into a public limited company and accordingly the name of our Company was changed to Riddhi Steel and Tube Limited pursuant to a special resolution passed by our Shareholders at the EGM held on January 08, 2016. A fresh certificate of Incorporation consequent upon conversion to public limited company was issued on February 01,2016 by  Registrar of Companies, Ahmedabad, Gujarat. For further details, please see the section titled 'History and other Certain Corporate Matter' beginning on page 88 of the Prospectus-

Registered Office:  83/84, Village - Kamod, Piplaj Pirana Road, Post - Aslali, Ahmedabad - 382427, Gujarat India.
Tel: +91 - 79 - 2970 0922; Fax: +91 - 79 -2676 8656; Email: info@riddhitubes.org ; Website: www.riddhitubes.com
Company Secretary and Compliance Officer: Mr. Neel G.Sukhani

Promoters of Our Company: Mr Rajesh Kumar R. Mittal, Ms. Preeti R. Mittal, Mr. Rajat R. Mittal and Ms. Riddhli R. Mittal

BASIS OF ALLOTMENT

PUBLIC ISSUE OF EQUITY SHARES OF R5-10 EACH ('EQUITY SHARES'') OF RIDDHl STEEL AND TUBE LIMITED ('RSTL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS.38 PER SHARE (THE ''ISSUE PRICE'), AGGREGATING TO RS. 899 20 LACS ('THE ISSUE') OF WHICH, 1,26,000 EQUITY SHARES OF RS. 10 EACH 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, ISSUE OF 22,14,000 EQUITY SHARES OF RS. 10 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'.THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.22% AND 26.71%, RESPECTIVELY OF THE POST ISSUE PAIDUP EQUITY SHARE CAPITAL OF THE COMPANY

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- EACH AND
THE ISSUE PRICE IS RS. 38.00. THE ISSUE PRICE IS 3.8 TIME OF THE FACE VALUE

ISSUE OPENED ON FRIDAY, SEPTEMBER 02, 2016 AND CLOSED ON WEDNESDAY, SEPTEMBER 07, 2016

The Equity Shares of the Company 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 from time to time, we are not required to obtain an in-principle listing approval from BSE. However, our Company has received an approval via letter dated August 25, 2016 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is propped to be commenced on or before September 14,2016*

*Subject to receipt of listing and trading approvals from the BSE Limited.

This being a Fixed Price Issue, the allocation in the Net Issue to the Public category shall be made as per Regulations 43(4) of the SEBI (ICDR) Regulations, 2009, es amended from time to time, wherein a minimum of 50% of the Net Offer of shares to the Public shall initially be made available for allotment to Retail individual investors The balance Net Issue of Shares to the public shall be 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. Under subscription, if any, in any of the categories, would be allowed to be met with spillover 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 intense spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All investors shall 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 aamounts were blocked by Self Certified Syndicate  Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 236 applications for 34,50,000  Equity Shares resulting 1.47 times subscription (including reserved portion of market maker).The details of the applications received in the Issue (before technical rejections) are as lollowa:

Details of the Application Received (Before Technical Rejections):

Category No. of
Applications.
% to
Total
Number of
Equity Shares
% to
Total
Subscription
(Times}
Market maker 1 0.42 1,26,000 3.65 1.00
Retail Individual Investors 177 75.00 5,31,300 15.39 0.48
Other Than Retail individual Investors 58 24.58 27,93,000 80.96 2.52
Total 236 100.00 34,50,000 100.00 1.47

The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:

Category

No. of
Applications

No. of
Equity Shanes
Market Maker Nil Nil
Retail Individual Investors 4 12,000
Other Than Retail individual Investors 2 1,56,000
Total 6 1,68,000

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Category No. of
Applications
% to
Total
Issue Size
(as per Prospectus}
No. of
Valid Shares applied
% of
Total Applied
Subscription
(Times)
Revised*
Subscription (Times)
Market Maker 1 0.43 1,26,000 1,26,000 3.84 1.00 1.00
Retail Individual Investors 173 75.22 11,07,000 5,19,000 15.81 0.47 0.47
Other Than Retail individual Investors 56 24.35 11,07,000 26,37,000 80.35 2.38 1.56
Total 230 100.00 23,40.000 32,82,000 100.00 1.40 1.40

* After spill-over of 5,88,000 shares from Retail Individual Investors to other than Retail individual Investors

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited (BSE) on September 09, 2016

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 38/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,26,000 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. 38/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.47 times. Total number of shares allotted in this category is 5,19,000 Equity Shares to 173 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
% of total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to
Applicants
Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
3000 173 100.00 5,19,000 100.00 11,07,000 30,000 3,000 1:1 173 5,19,000 (5,88,000}
Total 173 100.00 5,19,000 100.00 11,07,000 173 5,19,000 (5,88,000)

C. Allocation to Other than Retail Individual lnvestors(After Technical Rejections fi Withdrawal). The Basis of Allotment to the Non Relail Investors, at iho issue price of Rs. 38/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.56 times. Tolal number of shares elicited in this category is 16.95,000 Equity Shares. The category wise basis of allotmem is as under

No. Of Shares Applied for (Category wise) No. of
Applications received
% to total Total No. of Equity
Shares applied in this Category
% of total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to
Applicants
Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
6,000 1 1.79 6,000 0.23 3,857 3856.66 3,000 1:1 1 3,000 857
9,000 3 5.36 27,000 1.02 17,355 5784.98 6,000 1:1 3 18,000 (645)
12,000 9 16.07 1,08,000 4.10 69,420 7713.31 6,000 1:1 9 54,000 15420
3,000 5:9 5 15,000 (15000}
15,000 2 3.57 30,000 1.14 19,283 9641.64 9,000 1:1 2 18,000 1283
18,000 3 5 36 54,000 2.05 34,710 11569.97 12,000 1:1 3 36,000 (1290)
24,000 4 7.14 96,000 3.64 61,706 15426.62 15,000 1:1 4 60,000 1706
27,000 9 16.07 2,43,000 9.22 1,56,195 17354.95 18,000 1:1 9 1,62,000 (5805)
30,000 6 10.71 1,80,000 6.83 1,15,700 18283.26 18,000 1:1 6 1,08,000 7700
3,000 1:3 2 6,000 (6000)
9 16.07 2,97,000 11.26 1,90,904 21211.60 21,000 1:1 9 18,90,000 1904
3,000 1:9 1 3,000 (3000)
39,000 1 1.79 39,000 1.48 25,068 25068.26 24,000 1:1 1 24,000 1068
60,000 1 1.79 60,000 2.20 38,567 38566.55 39,000 1:1 1 39,000 (433)
69,000 1 1.79 69,000 2.62 44,352 44351.54 45,000 1:1 1 45,000 (648)
72,000 1 1.79 72,000 2.73 46,280 46279.36 45,000 1:1 1 45,000 1280
1,05,000 1 1.79 1,05,000 3.98 67,491 67491.47 66,000 1:1 1 66,000 1491
1,29,000 1 1.79 1,29,000 4.69 82,918 82918.09 84,000 1:1 1 84,000 (1082)
1,32,000 2 3.57 2,64,000 10.01 1,69,693 84846.42 84,000 1:1 2 1,68,000 1693
2,01,000 1 1.79 2,01,000 7.62 1,29,198 129197.95 1,29,000 1:1 1 1,29,000 198
6,57,000 1 1.79 6,57,000 24.91 4,22,304 422303.75 4,23,000 1:1 1 4,23,000 (696)
Total 56 100.00 26,37,000 100.00 16,95,000 56 16,95,000

The Board of Directors of the Company at its meeting held on September 9,2016 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Limited and has authored the corporate action for the transfer of the Equity Shares to various successful applicants.

The CAN and allotment advice and/or notices are beng dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on September 12,2016. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount have been processed on September 9,2016. In case the same is not received within prescribed time, investors may contact at the address given below. The Equity Shares allocated to successful applicants are being credited to their benefiecery accounts subject to validation of the account datails with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within six working, days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall nave the respective meanings assigned to them in the Prospectus dated August 29,2016 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also bo hosted on the website of the Ragistrar to the Issue, 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,Plot31-32 ,Gachibowli, Financial District, Nanakramguda,
Hyderabad - 500 032, India, Tel. +91 -40 - 67162222; Fax: +91 - 40-23431551
Email: riddhisteel.ipo@karvy.com Website: www.karisma.karvy.com  
Contact Person: Mr M. Murli Krishna. SEBI Registration No.: INR000000221

Place: Ahmedabad
Date :10.06.2016
For Riddhi Steel And Tuhe Limited
On behalf of Board of Directors
Sd/-
Mr. Rajesh Kumar R. Mittal
Managing Director

Riddhi Steel IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Riddhi Steel IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The Riddhi Steel IPO basis of allotment (published above) tells you how shares are allocated to you in Riddhi Steel IPO and category wise demand of IPO share.

Visit the Riddhi Steel IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Riddhi Steel IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).