Advance Syntex IPO Details

Issue Open Jun 30, 2016
Issue Close Jul 4, 2016
IPO Price ₹12
Face Value ₹10
IPO Size ₹2.52 Cr
Listing At BSE SME
IPO Lot Size 10000

ADVANCE SYNTEX LIMITED

CIN: U17119GJ1990PLG014406

Our Company was incorporated as Advance Syntex Private Limited on September 21,1990 under the provisions of Companies Act, 1956 with Registrar of Companies, Dadra & Nagar Haveli, Gujarat, vide registration no. 014406 (CIN: U17119GJ1990PTC014406). Pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting held on October 24, 2015. our Company was converted into a Public Limited Company and the name was changed to "Advance Syntex Limited" and a fresh Certificate of Incorporation dated November 23,2015 was issued by the Registrar of Companies, Ahrnedabad. For details of the changes in our Name and Registered office, please see section titled ''History and Certain Corporate Matters" on page 125 of the prospectus.
Registered Office: 233/2 & 238/2 GIDC, POR Ramangamdi. Vadodara-391243, Gujarat, India..Tel: +91-265-2331850; Fax: +91-265-2631648.
Email: info@midasglitter.com ; Website: www.midasglitter.com  Contact Person : Ms. Lakshita Sabnani (Company Secretary & Compliance Officer)

PROMOTER OF OUR COMPANY: MR. BHAVAN DHIRENDRA VORA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 21,00,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF ADVANCE SYNTEX LIMITED ("OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF RS 12.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 2.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS 252 00 LAKHS ("THE ISSUE"), OF WHICH 120,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 12.00 PER EQUITY SHARE, AGGREGATING TO RS 14.40 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 19, 80,000 EQUITY SHARES OF FACE VALUE OF RS 10,00 EACH AT AN ISSUE PRICE OF RS 12.00 PER EQUITY SHARE AGGREGATING TO RS 237.60 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"}- THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.53% and 25.02%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE 234 OF THE PROSPECTUS.

THIS ESSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009(THE "SEBI ICDR REGULATIONS"), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "ISSUE PROCEDURE" BEGINNING ON PACE 242 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE IS RS 12.00 EACH.
THE ISSUE PRICE IS 1.2 TIMES OF THE FACE VALUE, ISSUE OPENED ON THURSDAY, JUNE 30, 2016 AND CLOSED ON MONDAY, JULY 04, 2016.

The Equity Shares offered through 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, we are not required to obtain an in-principle listing approval for the Shares being offered in this issue. However, our Company has received an In-principle approval letter dated May 03,2016 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE. 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 Tuesday. July 12, 2016*.

*Subject to receipt at 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 Sell Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The Issue has received 595 applications for 70,00,000 Equity Shares resulting m 3.33 Times subsaipiion (including reserved portion of market maker). The details of the applications received in the issue (Below Technical Rejection) are as follows:

Detail of the Application Received (Before Technical Rejection:)

Category No. of
Applications
% Number of
Equity Shards
% Subscription
(Times)
Market Makers 1 0.17 1,20,000 1.71 1
Retail individual Investors 562 94.45 56,20,000 80.29 5.68
Other than Retail individual Investors 32 5.38 12,60,000 18.00 1.27
Total 595 100.00 70,00,000 100.00 3.33

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

Category No. of
Applications
No. of
Equity Shards
Market Makers Nil Nil
Retail individual Investors Nil 1,40,000
Other than Retail individual Investors Nil Nil
Total 14 1,40,000

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

Category No. of
Applications
% Reserved Portion
(as per Prospectus)
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Markd Maker 1 100.00 1,20,000 1,20,000 100.00 1.00
Total 1 100.00 1,20,000 1,20,000 100.00 1.00
Category No. of
Applications
% Reserved Portion
(as per Prospectus)
Proportionate Issue Size
(After rounding oil)
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Retail Individual investors 548 94.48 9,90,000 16,10,000 54,80,000 81.31 5.54
Other than Retail Individual Investors 32 5.52 9,90,000 3,70,000 12,60,000 18.69 1.2:4
Total 580 100.00 19,80,000 19,80,000 67,40,000 100.00

ALLOCATION: The Basis of allotment was finalized with the Designated stock exchange - BSE Limited on july 07,2016.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Martat Maker, at the issue price of Rs.12 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 1,20,000 Equity shares.

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.12 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 5.54 times i.e. for 54,80,000 Equity Shares the total number of shares allotted in this category is 16,10,000 Equity Shares to 161 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
(Belore
Rounding
off)
Allocation
per
Applicant
(After
Rounding
off)
Ratio of
Allottees
to Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant:
Ratio 2
Number of
Successful
applicants
(after
rounding
oft)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
10,000 548 100.00 54,80,000 100.00 16,10,000 2937.96 10,000 5 17 16! 16,10,000 0
TOTAL 548 100.00 54,80,000 100.00 16,10,000 2937 96 10,000 161 16,10,000 0

C. Allocation lo 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.12 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.27 times i e. for 12,60,000 shares the total number of shares allotted in this category is 3,70,000 Equity Shares to 26 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
(Belore
Rounding
off)
Allocation
per
Applicant
(After
Rounding
off)
Ratio of
Allottees
to Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant:
Ratio 2
Number of
Successful
applicants
(after
rounding
oft)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
20000 16 50.00 320,000 25.40 93968 5873.00 10,000 5 8 10 1,00,000 -6032
36000 4 12 50 120,000 9 52 35238 9809.50 10,000 1 1 4 40,000 -4762
40000 3 9.38 120,000 9.52 35238 11746.00 10,000 1 1 3 30,000 5238
50000 2 6.25 100,000 7.94 29365 14682.50 10,000 1 1 2 20,000 9365
60000 1 3.13 60,000 4.76 17619 17619.00 20,000 1 1 1 20,000 -2381
70000 1 3.13 70,000 5. 56 20556 20556.00 20,000 1 1 1 20,000 556
80000 3 9.38 240,000 19.05 70476 23492.00 20,000 1 1 3 60,000 10476
1 3 10,000 -10000
100000 1 3.13 100,000 7.94 29,365 29365.00 30,000 1 1 1 30,000 -635
130000 1 3.13 130,000 10.32 38,175 38175.00 40,000 1 1 1 40,000 -1825
TOTAL 32 100.00 12,60,000 100.00 3,70,000 26 3,70,000 0

The Board or Directors of the Company at its meeting held on July 08, 2016 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transter of the Equity Shares to various successful applicants.

The CAN and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before 11 July, 2016. Further, the instructions to Sell Certified Syndicate Banks for unblocking the amount have been processed on or prior to 08 July, 2016. 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 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 22,2016 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Sharex Dynamic (India) Private Limited at www.sharexindia.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:

SHAREX DYNAMIC (INDIA) PRIVATE LIMITED
Unit -1, Luthra Industrial Premises, Safed Pool, Andheri Kurla Roadh Andheri (East), Mumbai - 400 072. Maharashtra, India,
Tel: +91-22- 2851 5606; Fax: +91-22-285102885
Email: shareindia@vsnl.com ; Investor Grievance Email: advance.ipo@sharexindia.in ; Website: www.sharexindia.com
Contact Person: Mr. K C Ajitkumar; SEBI Registration No. INR000002102

Place : Vadodara
Date: 08.07.2016
For ADVANCE SYNTEX LIMITED
On behalf of the Board of Directors
sd/-
Mr. Bhavan Dhirendra Vora
Managing Director

THE LEVEL Of SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF THE ADVANCE SYNTEX LIMITED

Advance Syntex IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Advance Syntex IPO?

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

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

    Visit the Advance Syntex IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Advance Syntex IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Advance Syntex 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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