Accord Synergy IPO Details

Issue Open Jun 22, 2017
Issue Close Jun 28, 2017
IPO Price ₹60
Face Value ₹10
IPO Size ₹5.83 Cr
Listing At NSE SME
IPO Lot Size 2000

ACCORD SYNERGY LIMITED
Corporate Identity Number: U45200GJ2014PLC079847

Our Company was incorporated on June 19,2014 as Accord Synergy Private Limited under the provisions of the Companies Act, 2013 with Certificate of Incorporation bearing Registration Number 079847 dated June 19, 2014 issued by the Registrar of Companies Ahmedabad. Subsequently our Company was converted into a public limited company pursuant to special resolution passed at the Extra Ordinary General Meeting of our Company held on February 8, 2017. A fresh certificate of incorporation consequent upon conversion to Accord Synergy Limited was issued on February 23,2017 by the Registrar of Companies Ahmedabad. The Corporate Identification Number is U45200GJ2014PLC079847.

Registered and Corporate Office: 302, Shine Plaza, Natubhi Circle, Race Course, Vadodara -390007, Gujarat, India. | Tel No.: +91 265-2356800 | Fax No.: +91 265-2356800
E-mail: compliance@accordsynergy.com | Website: www.accordsynergy.com | Contact Person: Ms. Swati Thakrel, Company Secretary and Compliance Officer

PROMOTER OF OUR COMPANY: MR. BETULLA ASDULLA KHAN AND MRS. ROLI BETULLA KHAN

BASIS OF ALLOTMENT

PUBLIC ISSUE UPTO 9,72,000 EQUITY SHARES OF A FACE VALUE OF RS 10.00 EACH (THE "EQUITY SHARES") OF ACCORD SYNERGY LIMITED ("ASL" ACCORD" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 60.00 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS 583.20 LAKHS ("THE ISSUE"), OF WHICH, 96,000 EQUITY SHARES OF RS 10.00 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 8,76,000 EQUITY SHARES OF RS 60.00 EACH (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.99% AND 25.23%, RESPECTIVELY OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED FROM TIME TO TIME (THE "SEBIICDR REGULATIONS").

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE ISSUE PRICE IS 6 TIMES OF THE FACE VALUE.
ISSUE OPENED ON THURSDAY JUNE 22, 2017 AND CLOSED ON WEDNESDAY JUNE 28, 2017.

PROPOSED LISTING: JULY 06, 2017*

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Ltd. ("NSE") i.e., "NSE EMERGE" and traded in the SME Continuous Normal Market. Our Company has received an 'in-principal' approval from NSE for the listing of the Equity Shares pursuant to the letter dated March 17, 2017. For the purpose of this Issue, the designated Stock Exchange will be the National Stock Exchange of India Limited ("NSE"). The trading is proposed to be commenced on or about July 06,2017.*

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

In terms of the SEBI Circular No. CIR/CFD/POLICYCELL/11/2015, all potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process providing details about the bank account which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same.

SUBSCRIPTION DETAILS

The issue has received 44,744 applications for 135,646,000 Equity Shares resulting in 139.55 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection):

Category No. of
Applications
% No. of
Equity Shares
% Subscription
(Times)
Market Maker 1 0.00 96,000 0.07 1.00
Retail Individual Investors 44,363 99.15 88,726,000 65.41 155.66
Other than Retail Individual Investors 380 0.85 46,824,000 34.52 153.02
TOTAL 44,744 100.00 135,646,000 100.00 139.55

The details of applications reiected by the Registrar on technical Grounds are detailed below:

Category No. of
Applications
No. of
Equity Shares
Market Maker Nil Nil
Retail Individual Investors 627 1,254,000*
Other than Retail Individual Investors 1 16,000
Total 628 1,270,000

*this includes 14 applications for 28,000 Equity shares from retail individual investors which were not in book.

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 Maker 1 100 96,000 96,000 100 1.00
Total 1 100 96,000 96,000 100 1.00
Category Number of Applications % Reserved Portion
(as per Prospectus)
Proportionate Offer
Size
(After rounding off)
No. of Valid
Shares applied
% of
Total Applied
Subscription (Times)
Retail Individual Investors 43,736 99.14 438,000 570,000 87,472,000 65.14 153.46
Other than Retail Individual Investors 379 0.86 438,000 306,000 46,808,000 34.86 152.97
Total 44,115 100 876,000 876,000 136,110,000 100

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on July 03,2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 60 per Equity Share, was finalised in consultation with National Stock Exchange Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 96,000 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
% of total Proporti
nate Shares
Available
Allocation per
Applicant (Before
Rounding Off)
Allocation per Applicant (After Rounding Off) Ratio of Allottees
to Applicants
Ratio 1
Ratio of Allottees
to
Applicants
Ratio 2
Number of Successful
applicants (after
rounding off)
Total No. of Equity
Shares allocated/
allotted
No. of Shares Surplus/ Deficit
96,000 1 100.00 96,000 100.00 96,000 96,000 96,000 1 1 1 96,000 -
TOTAL 1 100.00 96,000 100.00 96,000 96,000 96,000 1 1 1 96,000 -

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 60 per Equity Share, was finalized in consultation with National Stock Exchange Limited. The category was subscribed by 153.46 times i.e. for 87,472,000 Equity Shares. Total number of shares allotted in this category is 570,000 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
% of total Proporti
nate Shares
Available
Allocation per
Applicant (Before
Rounding Off)
Allocation per Applicant (After Rounding Off) Ratio of Allottees
to Applicants
Ratio 1
Ratio of Allottees
to Applicants
Ratio 2
Number of Successful
applicants (after
rounding off)
Total No. of Equity
Shares allocated/
allotted
No. of Shares Surplus/ Deficit
2,000 43,736 100.00 87,472,000 100.00 570,000 13.03 2,000 1 153 285 570,000 0
TOTAL 43,736 100.00 87,472,000 100.00 570,000 285 570,000 0

C. Allocation to other than Retail Individual Investors (After Technical rejections & withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs 60 per Equity Share, was finalized in consultation with National Stock Exchange Limited. The category was subscribed by 152.97 times i.e. for 46,808,000 Equity Shares the Total number of shares allotted in this category is 306,000 Equity Shares to 112 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 Proporti
nate Shares
Available
Allocation per
Applicant (Before
Rounding Off)
Allocation per Applicant (After Rounding Off) Ratio of Allottees
to Applicants
Ratio 1
Ratio of Allottees
to Applicants
Ratio 2
Number of Successful
applicants (after
rounding off)
Total No. of Equity
Shares allocated/
allotted
No. of Shares Surplus/ Deficit
4000 118 31.13 472000 1.01 3088 26.17 2000.00 1 118 1 2000 -1088
6000 37 9.76 222000 0.47 1451 39.22 2000.00 1 37 1 2000 549
8000 27 7.12 216000 0.46 1412 52.30 2000.00 1 27 1 2000 588
10000 11 2.90 110000 0.24 719 65.36 2000.00 1 11 1 2000 1281
12000 20 5.28 240000 0.51 1569 78.45 2000.00 1 20 1 2000 431
14000 4 1.06 56000 0.12 366 91.50 2000.00 1 4 1 2000 1634
16000 19 5.01 304000 0.65 1987 104.58 2000.00 1 19 1 2000 13
18000 5 1.32 90000 0.19 588 117.60 2000.00 1 5 1 2000 1412
20000 7 1.85 140000 0.30 915 130.71 2000.00 1 7 1 2000 1085
22000 1 0.26 22000 0.05 144 144.00 2000.00 1 1 1 2000 1856
24000 8 2.11 192000 0.41 1255 156.88 2000.00 1 8 1 2000 745
28000 1 0.26 28000 0.06 183 183.00 2000.00 1 1 1 2000 1817
32000 2 0.53 64000 0.14 418 209.00 2000.00 1 2 1 2000 1582
36000 3 0.79 108000 0.23 706 235.33 2000.00 1 3 1 2000 1294
40000 5 1.32 200000 0.43 1307 261.40 2000.00 1 5 1 2000 693
46000 1 0.26 46000 0.10 301 301.00 2000.00 1 1 1 2000 1699
48000 2 0.53 96000 0.21 628 314.00 2000.00 1 2 1 2000 1372
50000 1 0.26 50000 0.11 327 327.00 2000.00 1 1 1 2000 1673
58000 1 0.26 58000 0.12 379 379.00 2000.00 1 1 1 2000 1621
64000 2 0.53 128000 0.27 837 418.50 2000.00 1 2 1 2000 1163
68000 1 0.26 68000 0.15 445 445.00 2000.00 1 1 1 2000 1555
70000 1 0.26 70000 0.15 458 458.00 2000.00 1 1 1 2000 1542
80000 1 0.26 80000 0.17 523 523.00 2000.00 1 1 1 2000 1477
82000 1 0.26 82000 0.18 536 536.00 2000.00 1 1 1 2000 1464
84000 3 0.79 252000 0.54 1647 549.00 2000.00 1 3 1 2000 353
86000 1 0.26 86000 0.18 562 562.00 2000.00 1 1 1 2000 1438
90000 1 0.26 90000 0.19 588 588.00 2000.00 1 1 1 2000 1412
94000 1 0.26 94000 0.20 615 615.00 2000.00 1 1 1 2000 1385
102000 2 0.53 204000 0.44 1334 667.00 2000.00 1 2 1 2000 666
108000 1 0.26 108000 0.23 706 706.00 2000.00 1 1 1 2000 1294
116000 1 0.26 116000 0.25 758 758.00 2000.00 1 1 1 2000 1242
120000 3 0.79 360000 0.77 2353 784.33 2000.00 1 3 1 2000 -353
126000 1 0.26 126000 0.27 824 824.00 2000.00 1 1 1 2000 1176
132000 1 0.26 132000 0.28 863 863.00 2000.00 1 1 1 2000 1137
134000 2 0.53 268000 0.57 1752 876.00 2000.00 1 2 1 2000 248
142000 1 0.26 142000 0.30 928 928.00 2000.00 1 1 1 2000 1072
144000 1 0.26 144000 0.31 941 941.00 2000.00 1 1 1 2000 1059
160000 1 0.26 160000 0.34 1046 1046.00 2000.00 1 1 1 2000 954
162000 1 0.26 162000 0.35 1059 1059.00 2000.00 1 1 1 2000 941
166000 4 1.06 664000 1.42 4341 1085.25 2000.00 1 2 2 4000 -341
168000 1 0.26 168000 0.36 1098 1098.00 2000.00 1 1 1 2000 902
180000 1 0.26 180000 0.38 1177 1177.00 2000.00 1 1 1 2000 823
190000 1 0.26 190000 0.41 1242 1242.00 2000.00 1 1 1 2000 758
192000 1 0.26 192000 0.41 1255 1255.00 2000.00 1 1 1 2000 745
194000 1 0.26 194000 0.41 1268 1268.00 2000.00 1 1 1 2000 732
196000 1 0.26 196000 0.42 1281 1281.00 2000.00 1 1 1 2000 719
198000 1 0.26 198000 0.42 1294 1294.00 2000.00 1 1 1 2000 706
200000 7 1.85 1400000 2.99 9152 1307.43 2000.00 4 7 4 8000 -1152
202000 1 0.26 202000 0.43 1321 1321.00 2000.00 1 1 1 2000 679
206000 1 0.26 206000 0.44 1347 1347.00 2000.00 1 1 1 2000 653
216000 1 0.26 216000 0.46 1412 1412.00 2000.00 1 1 1 2000 588
250000 3 0.79 750000 1.60 4903 1634.33 2000.00 2 3 2 4000 -903
260000 1 0.26 260000 0.56 1700 1700.00 2000.00 1 1 1 2000 300
266000 1 0.26 266000 0.57 1739 1739.00 2000.00 1 1 1 2000 261
292000 1 0.26 292000 0.62 1909 1909.00 2000.00 1 1 1 2000 91
300000 1 0.26 300000 0.64 1961 1961.00 2000.00 1 1 1 2000 39
332000 3 0.79 996000 2.13 6511 2170.33 2000.00 1 1 3 6000 -511
400000 7 1.85 2800000 5.98 18305 2615.00 2000.00 1 1 7 14000 -4305
416000 4 1.06 1664000 3.55 10878 2719.50 2000.00 1 1 4 8000 -2878
460000 1 0.26 460000 0.98 3007 3007.00 2000.00 1 1 1 2000 -1007
500000 2 0.53 1000000 2.14 6537 3268.50 2000.00 1 1 2 4000 -2537
550000 1 0.26 550000 1.18 3596 3596.00 2000.00 1 1 1 2000 -1596
650000 1 0.26 650000 1.39 4249 4249.00 4000.00 1 1 1 4000 -249
826000 2 0.53 1652000 3.53 10800 5400.00 4000.00 1 1 2 8000 -2800
832000 16 4.22 13312000 28.44 87025 5439.06 4000.00 1 1 16 64000 -23025
832000 1 additional share is alloted in the ratio of 1:4 2000.00 1 4 8000 8000
876000 14 3.691 12264000 | 26.201 80174 5726.71 4000.00 1 1 14 56000 -24174
876000 2 additional share is alloted in the ratio of 2:7 2000.00 2 7 8000 8000
TOTAL 379 100.001 46808000 100.00 306000 112 306000 0

The Board of Directors of the Company at its meeting held on July 04,2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and at a meeting held on July 04, 2017 and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The Allotment-cum-Refund advices and / or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount have been issued on July 04, 2017. 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 National Stock Exchange of India Limited 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 June 12, 2017 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, Link Intime India Private Limited at www.linkintime.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:

LINKINTIME INDIA PRIVATE LIMITED
C-10
1,1 st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikholi (West), Mumbai 400 083.
Tel: +91 022 49186200; Fax: +91 022 49186195; Email: accord.ipo@linkintime.co.in ; Investor grievance email: accord.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalakrishnan; Website: www.linkintime.com
SEBI Registration No.: INR000004058; CIN: U67190MH1999PTC118368

Place : Vadodara
Date: July 04,2017
For Accord Synergy Limited
On behalf of the Board of Directors
Sd/-
Mr. Betulla Asdulla Khan
Managing Director

Accord Synergy IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Accord Synergy IPO?

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

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

    Visit the Accord Synergy IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Accord Synergy IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Accord Synergy 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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