Aartech Solonics IPO Details

Issue Open Mar 12, 2019
Issue Close Mar 18, 2019
IPO Price ₹34
Face Value ₹10
IPO Size ₹7.21 Cr
Listing At BSE SME
IPO Lot Size 4000

Our Company was originally incorporated as "Aartech Solonics Private Limited" on August, 24th, 1982, under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Gwalior, Madhya Pradesh. Later on, company was converted into public limited company, the name of our Company was changed to "Aartech Solonics Limited" and fresh Certificate of Incorporation dated April 23rd, 1992 was issued by the Registrar of Companies, Gwalior, Madhya Pradesh. Corporate Identification Number of our Company is U31200MP1982PLC002030.

Registered Office: E-2/57, Ashirvad Arera Colony, Bhopal MP- 462016
Tel No:- +91 - 755 -2463593; Website: http://www.aartechsolonics.com/; E-Mail: compliance@aartechsolonics.com
CONTACT PERSON: MR. K.R. TANUJ REDDY, (COMPANY SECRETARY AND COMPLIANCE OFFICER)
PROMOTERS OF OUR COMPANY: MR. ANIL ANANT RAJE, MRS. CHHAYA RAJE
BASIS OF ALLOTMENT

PUBLIC ISSUE OF 21,20,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH OF AARTECH SOLONICS LIMITED ("ASL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 34 PER EQUITY SHARE INCLUDING ASHARE PREMIUM OF Rs. 24 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 720.80 LAKH ("THE ISSUE"), OF WHICH 1,12,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 34 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 24 PER EQUITY SHARE AGGREGATING TO Rs. 38.08 LAKH 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 20,08,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH AT A PRICE OF Rs. 34 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 24 PER EQUITY SHARE AGGREGATING TO Rs. 682.72 LAKH IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.03% AND 28.44% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THIS ISSUE IS BEING IN TERMS OF CHAPTER IX OF THE SECURITIES AND EXCHANGE BOARD OF INDIAN (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENT) REGULATIONS, 2018 ("THE ICDR REGULATIONS") AS AMENDED. THIS ISSUE IS FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 32(4) OF THE SEBI (ICDR) REGULATIONS, 2018, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "ISSUE PROCEDURE" BEGINNING ON PAGE 222 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00 EACH AND THE ISSUE PRICE IS Rs. 34.00. THE ISSUE PRICE IS 3.4 TIMES OF THE FACE VALUE.

ISSUE OPENED ON: TUESDAY, 12TH MARCH, 2019 AND ISSUE CLOSED ON: MONDAY, 18TH MARCH, 2019

PROPOSED LISTING: WEDNESDAY, 27TH MARCH, 2019.

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE SME"). Our Company has received an approval letter dated 26th October, 2018 from BSE for using its name in this offer document for listing of our shares on the SME Platform of BSE Limited ("BSE SME"). For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced on or about March 27th, 2019.*

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

All Applicants were allowed to participate in the issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The issue has received 403 applications for 28,16,000 Equity Shares resulting in 1.32 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical rejections) are as follows:

Details of the valid Applications Received (before Technical Rejections but after removing 15 applications for 30000 shares for which "bid filed but not banked):

Category Number of Applications % Number of Equity Shares % SUBSCRIPTION (TIMES)n Ratio
Market Makers 1 0.25 1,12,000 3.98 1.00
Non Retail Investor's 393 97.52 15,72,000 55.82 1.57
Retail Individual Investor's 9 2.23 11,32,000 40.20 1.13
Total 403 100.00 28,16,000 100.00  

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

Category Number of Applications Number of Equity Shares
Market Makers Nil Nil
Other than Retail Individual Investor's 24 96,000
Retail Individual Investor's Nil Nil
TOTAL 24 96,000

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

Category Number of Applications % Reserved Portion (as per Prospectus) No. of Valid Shares applied % of Total Applied Subscription (Times)
Market Makers 1 100.00 1,12,000 1,12,000 100.00 1.00
Total 1 100.00 1,12,000 1,12,000 100.00 1.00
Category Number of Applications % Reserved Portion (as per Prospectus) Proportionate Issue Size (Spilled Over) No. of Valid Shares applied % of Total Applied Subscription (Times)
Retail Individual Investors 369 97.62 10,04,000 11,40,000 14,76,000 * 56.60 * 1.294
Other than Retail Individual Investors 9 2.38 10,04,000 8,68,000 11,32,000 43.40 1.304
Total 378 100.00 20,08,000 20,08,000 26,08,000 100.00  

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on March 22nd, 2019.

A.   Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 34 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,12,000 Equity shares.

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 (before Rounding Off) Allocation per Applicant (after Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees To Appli cant: Ratio 2 Number of Successful Applicants (After Round ing Off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus /Deficit
1,12,000 1 100.00 1,12,000 100.00 1,12,000 1,12,000 1,12,000 1 1 1 1,12,000 -
TOTAL 1 100.00 1,12,000 100.00 1,12,000 1,12,000 1,12,000 1 1 1 1,12,000 -
 
B.   Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 34 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.47 times i.e. for 14,76,000 Equity Shares. Total number of shares allotted in this category is 1,140,000 Equity Shares to 285 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 Proportionate Shares Available Allocation per Applicant (before Rounding Off) Allocation per Applicant (after Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees To Applicant: Ratio 2 Number of Successful Applicants (After Round ing Off) Total No. of Equity Shares allocated/ allotted No.of Shares Surplus /Deficit
4000 369 100.00 1476000 100.00 1140000 3089.43 4000 95 123 285 1140000 0
Total 369 100.00 1476000 100.00 1140000         285 1140000 0
 
C.   Allocation to Other than Retail Individual Investors (AfterTechnical Rejections & Withdrawal): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs. 34 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.13 times i.e. for 11,32,000 shares the total number of shares allotted in this category is 8,68,000 Equity Shares to 9 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 (before Rounding Off) Allocation per Applicant (after Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees To Appli cant: Ratio 2 Number of Successful Applicants (After Round ing Off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus /Deficit
8000 2 22.22 16000 1.41 12269 6134.5 4000 1 2 2 8000 -4269
    0.00   0.00     4000 1 2   4000 4000
28000 1 11.11 28000 2.47 21470 21470 20000 1 1 1 20000 -1470
60000 1 11.11 60000 5.30 46007 46007 48000 1 1 1 48000 1993
116000 1 11.11 116000 10.25 88947 88947 88000 1 1 1 88000 -947
148000 1 11.11 148000 13.07 113484 113484 112000 1 1 1 112000 -1484
176000 1 11.11 176000 15.55 134954 134954 136000 1 1 1 136000 1046
292000 1 11.11 292000 25.80 223901 223901 224000 1 1 1 224000 99
296000 1 11.11 296000 26.15 226968 226968 228000 1 1 1 228000 1032
Total 9 100.00 1132000 100.00 868000           868000 0

The Board of Directors of the Company at its meeting held on March 23rd, 2019 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Limited. Further the Company in its meeting held on March 23rd, 2019 has authorized the corporate action for issue of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will forwarded to the email id's and address of the Applicants as registered with the depositories / as filled in the application form. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to March 25th, 2018. In case the same is not received within 10 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 SME Platform of BSE Limited (BSE SME) within six 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 March 07th, 2019 ("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 Private Limited at www.bigsharaonline.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:

BIGSHARE SERVICES PRIVATE LIMITED For AARTECH SOLONICS LIMITED
SEBI Regn. Number: INR000001385 On behalf of the Board of Directors
Address: 1st Floor, Bharat Tin Work Building, Opp. Vasant Oasis, Makwana Road, Marol, SD/-
Andheri East, Mumbai - 400059. Tel: +91 - 22626 38200; Fax: +91 - 22626 38299 Mr. Anil Anant Raje
Email: ipo@bigshareonline.com, Website: www.bigshareonline.com Managing Director
Contact Person: Mr. Babu Rapheal Place: Bhopal DIN:01658167
CIN: U99999MH1994PTC076534 Date: March 26th, 2018

Aartech Solonics IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Aartech Solonics IPO?

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

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

    Visit the Aartech Solonics IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Aartech Solonics IPO allotment process?

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








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