Aarvi Encon IPO Details

Issue Open Sep 21, 2017
Issue Close Sep 26, 2017
IPO Price ₹54
Face Value ₹10
IPO Size ₹21.24 Cr
Listing At NSE SME
IPO Lot Size 2000

AARVI ENCON LIMITED

Corporate Identification Number: U29290MH1987PLC045499

Our Company was incorporated as Aarvi Encon Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated December 03,1987 in Mumbai. Subsequently, the name of our Company was changed to Aarvi Encon Limited pursuant to conversion into a public company vide Shareholders' approval on June 13,2017 and fresh certificate of incorporation dated July 05,2017. The Corporate Identification Number of Our Company is U29290MH1987PLC045499. For details of change in registered office of our Company please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 137 of the Prospectus.

Registered Office: 603, B1 Wing, Marathon Innova, Marathon Nextgen Complex, Lower Parel (West), Mumbai - 400013, Maharashtra, India.
Tel No.: (022) 40499999 | Fax No.: (022) 40499998 | E-mail: info@aarviencon.com | Website: www.aarviencon.com
Contact Person: Mr. Jaydev Virendra Sanghavi, Executive Director

PROMOTERS OF THE COMPANY: MR. VIRENDRA DALPATRAM SANGHAVI AND MR. JAYDEV VIRENDRA SANGHAVI

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 39,34,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF AARVI ENCON LIMITED ("AARVI" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 54 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 44 PER EQUITY SHARE AGGREGATING RS 2124.36 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 1,98,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 37,36,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.61% AND 25.27% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION" BEGINNING ON PAGE 273 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH.
THE ISSUE PRICE IS RS 54. THE ISSUE PRICE IS 5.40 TIMES THE FACE VALUE.
ISSUE OPENED ON: SEPTEMBER 21, 2017; ISSUE CLOSED ON: SEPTEMBER 26, 2017
PROPOSED LISTING: THURSDAY, OCTOBER 05, 2017'

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time. The Company has received an in-principle approval letter dated August 21,2017 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Thursday, October 05,2017.*
*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.
All Applicants participated in the Issue 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 602 applications for 5508000 Equity Shares resulting in 1.40 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 Applications Received (Before Technical Rejection):

Category No. of Applicants % No. of Equity Shares % Subscription (Times)
Market Maker 1 0.16 198000 3.59 1.00
Retail Individual Investors 559 92.86 1118000 20.30 0.60
Other than Retail Individual Investors 42 6.98 4192000 76.11 2.24
TOTAL 602 100.00 5508000 100.00 1.40

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

Category No. of Applications No. of Equity Shares
Market Maker Nil Nil
Retail Individual Investors 5 10000
Other than Retail Individual Investors Nil Nil
TOTAL 5 10000

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

Category No. Of Applications % Issue Size (as per Prospectus) Proportionate Issue Size
(After rounding off)
No. Of Valid
Shares applied
Subscription (Times)
Market Maker 1 0.16 198000 198000 198000 1.00
Retail Individual Investors 554 92.80 1868000 1108000 1108000 0.59
Other than Retail Individual Investors 42 7.04 1868000 2628000 4192000 1.60
TOTAL 597 100.00 3934000 3934000 5498000 1.40

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on September 29,2017.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 54 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 198000 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 54 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.59 times. The total number of shares allotted in this category is 1108000 Equity Shares to 554 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

No. Of Shares Applied for (Category
wise)
No. Of
Appli
cations
received
% to Total Total No. of
Equity
Shares
applied
in each
Category
% to Total Proporti
nate
Shares
Available*
Allocation per Applicant
(Before Rounding Off)
Allocation per Applicant
(After Rounding Off)
Ratio of Allottees to Appli cants: Ratio 1 Ratio of Allottees to Appli cants: Ratio 2 Number of
Successful
applicant
(after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of Shares Surplus/ Deficit
2000 554 100.00 1108000 100.00 1868000 2000.00 2000 1 1 554 1108000 -760000
TOTAL 554 100.00 1108000 100.00 1868000 554 1108000* -760000

* The under subscribed 7,60,000 Equity Shares from Retail Individual Investors Category have been spilled over to Other than Retail Individual Investors Category.

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs 54 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.60 times. The total number of shares allotted in this category is 2628000 Equity Shares to 42 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

No. Of Shares Applied for (Category
wise)
No. Of
Appli
cations
received
% to Total Total No.of
Equity
Shares
applied
in each
Category
% to Total Proporti
nate
Shares
Available
Allocation per Applicant
(Before Rounding Off)
Allocation per Applicant
(After Rounding Off)
Ratio of Allottees to Appli cants: Ratio 1 Ratio of Allottees to Appli cants: Ratio 2 Number of
Successful
applicant
(after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of Shares Surplus/ Deficit
4000 10 23.81 40000 0.95 25076 2507.63 2000 1 1 10 20000 -5076
4000 2000 2 10 4000 4000
6000 1 2.38 6000 0.14 3761 3761.45 4000 1 1 1 4000 239
8000 2 4.76 16000 0.38 10031 5015.27 6000 1 1 2 12000 1969
10000 1 2.38 10000 0.24 6269 6269.08 6000 1 1 1 6000 -269
18000 2 4.76 36000 0.86 22569 11284.35 12000 1 1 2 24000 1431
20000 1 2.38 20000 0.48 12538 12538.17 12000 1 1 1 12000 -538
30000 1 2.38 30000 0.72 18807 18807.25 18000 1 1 1 18000 -807
38000 1 2.38 38000 0.91 23823 23822.52 24000 1 1 1 24000 177
40000 1 2.38 40000 0.95 25076 25076.34 26000 1 1 1 26000 924
46000 2 4.76 92000 2.19 57676 28837.79 28000 1 1 2 56000 -1676
48000 1 2.38 48000 1.15 30092 30091.60 30000 1 1 1 30000 -92
50000 3 7.14 150000 3.58 94036 31345.42 30000 1 1 3 90000 -4036
50000 2000 2 3 4000 4000
64000 2 4.76 128000 3.05 80244 40122.14 40000 1 1 2 80000 -244
90000 1 2.38 90000 2.15 56422 56421.76 56000 1 1 1 56000 -422
92000 1 2.38 92000 2.19 57676 57675.57 58000 1 1 1 58000 324
100000 1 2.38 100000 2.39 62691 62690.84 62000 1 1 1 62000 -691
184000 2 4.76 368000 8.78 230702 115351.15 116000 1 1 2 232000 1298
186000 5 11.90 930000 22.19 583025 116604.96 116000 1 1 5 580000 -3025
186000 2000 1 5 2000 2000
200000 1 2.38 200000 4.77 125382 125381.68 126000 1 1 1 126000 618
370000 1 2.38 370000 8.83 231956 231956.11 232000 1 1 1 232000 44
648000 1 2.38 648000 15.46 406237 406236.64 406000 1 1 1 406000 -237
740000 1 2.41 740000 17.64 463911 463912.21 464000 1 1 1 464000 89
TOTAL 42 100.00 4192000 100.00 2628000 42 2628000 0

* Includes original reservation of 1868000 Equity Shares and spill over from Retail Individual Investers Category of 7,60,000 Equity Shares.
The Board of Directors of the Company at its meeting held on September 29,2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited 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 will be dispatched to the address of the Applicants as registered with the depositories on or before October 04,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to October 04,2017. In case the same is not received within four working days, investors may contact Registrar 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 NSE Emerge Platform 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 meaning assigned to them in the Prospectus dated September 14,2017 ("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.bigshareonline.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
Bharat Tin Works Bldg, 1st Floor, Opp. Vasant Oasis Makwana Road, Marol, (Andheri East), Mumbai-4000059.
Tel: +91 22 62638200; Fax: +91 22 62638299; E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com; Contact Person: Mr. Ashok Shetty; SEBI Registration No.: INR000001385

Place: Mumbai

Date: October 03,2017

For AARVI ENCON LIMITED
On behalf of the Board of Directors
Sd/-
Managing Director

Aarvi Encon IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Aarvi Encon IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Aarvi Encon 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 Aarvi Encon IPO basis of allotment status?

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

    Visit the Aarvi Encon IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Aarvi Encon IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Aarvi Encon 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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