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Airan IPO Details

Issue Open Mar 14, 2017
Issue Close Mar 16, 2017
IPO Price ₹45
Face Value ₹10
IPO Size ₹14.85 Cr
Listing At NSE SME
IPO Lot Size 3000

AIRAN LIMITED

CIN; U74I40GJ1995PLC025519

Our Company was originally incorporated as 'Airan Consultants Private Limited' on April 19,1995 under the provisions of Companies Act, 1956 with a certificate of Incorporation issued by Registrar of Companies, Gujarat, Dadra and Nagar Haveli at Ahmedabad. Lateron the name of our company was changed to 'Airan Private Limited' on January 4, 2017 with certificate of Incorporation pursuant to change of name issued by Registrar of Companies. Ahmedabad. Consequent up on the conversion of our Company into public Limited company, the name of our Company was changed to 'Airan Limited' and fresh crtificate of  incorporation dated January 18, 2017 was issued by the Registrar of Companies, Ahmedabad.

Registered office: 408, Kirtiman Complex. B/h Rembrandt. C.G Road. Ahmedabad - 380006, Gujarat. Website; www.airanlimited.in
Company Secretary and Compaliance Officer: Ms. Stuti Kinariwala;, Tel No.:-+91-79-2646 2233: Fax No: -+91-79 - 2646 2233; E-Mail; shares@airanlimited.in

PROMOTERS OF THE COMPANY:

BODY CORPORATE: airar Network Private Limited: INDIVIDUALS:Mr. Sandeepkumar Agrawal & Mrs. Poonam Agrawal

BASIS OF ALLOTMENT

AIRAN LIMITED - SME IPO

PUBLIC ISSUE OF 33,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF AIRAN LIMITED ('AIRAN' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 45 PER EQUITY SHARE. INCLUDING A SHARE PREMIUM OF RS 35 PER EQUITY SHARE (THE ISSUE PRICE') AGGREGATING TO RS 1485.00 LACS ('THE ISSUE'), OF WHICH 1,68,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 45 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 35 PER EQUITY SHARE AGGREGATING TO RS 75.60 LACS 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 31,32,000 EQUITY' SHARES OF FACE VALUE OF RS 10 EACH AT A PRICE OF RS 45 PER EQUITY SHARE AGGREGATING TO RS 1409.40 LACS IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.40% AND 25.05%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY' SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated March 7, 2017 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein (a) minimum of 50 %  of the Net offer to Public shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to i) individual applicants other than retail investor and ii) other investors including corporate bodies / institutions irrespective of no, of shares applied for. Under subscription, in either of the categories specified in clause (a) or (b) may be allocated to applicant in the other category
Explanation: For the purpose of Regulation 43 (4) of SEI (ICDR) Regulations, 2009 if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH  AND THE. ISSUE PRICE IS RS 45/- EACH INCLUDING A SHARE  PREMIUM OF RS 35 PER EQUITY SHARE. THE ISSUE PRICE IS TIMES OF THE FACE VALUE. ISSUE OPENED ON MARCH 14, 2017 (TUESDAY) AND CLOSED ON MARCH 16.2017 (THURSDAY).

The Equity Shares offered, through the Prospectus are proposed to be listed on Emerge Plarform of National Stock Exchange of Indain Limited ('NSE Emerge'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time, our Company has received In-Principle approval letter dated March 3, 2017 from National Stock Exchange of India Limited ('NSE') for using its name in the offer document for listing our shares On the Emerge Platform of National Stock Exchange of the India Limited.For the purpose of this Issue the designated Stock Exchange will  be the NSE.

SUBSCRIPTION DETAILS

Details of Application*:
The Issue has received 19,375 applications (before Technical Rejections) for 9.18,48,000 Equity Shares (Including Market Maker Application of  l,68,000 Equity Shares) resulting 27.83 times subscription. The details of the applications received in the Issue (before technical rejections) are as fallows:
Details af the vaalid Applications Received (before Technical Rejections $ Withdrawal of Application):

Category Number of A pplications Number of Equity Shares Subscription Ratio
Market Makers 1 1,68,000 1.00 times
Other than Retail Individual Investor's 168 3,40,62,000 21.75 times
Retail Individual Investor's 19,206 5,76,18,000 36.79 times
Total 19,375 9,18,48,000 27.83 times

Total 294 applications received (291 in Retail Individual Investor Category and 3 in Category other than Retail Investors) was rejected on technical grounds. Further, there was no withdrawal of application in any of the category.
ALLOCATION; The Basis of Allotment was finalized in consultation with thc Designated Stock Exchange - National Stock Exchange of India Limited on March 21, 2017.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal); The Basis of Allotment to the Market Maker, at the issue price of Rs  45/- 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 1,68.000 Equity shares in full, out of reserved portion of 1,68,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections &. Withdrawal, if any): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 45/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 28.97 times. Total number of shares allotted in this category is 19.59,000 Equity Share as under;

No.of
Shares
Applied
for
(Category
wise)
No.of
Applica
tions
received
%
to
Total
Total No.
of  Equity
Shares
upplied
% of
Total
Proport
ionate
Shares

Available
Allocation
per
Applicant
(Before
Rounding
Off
Allocation
per

Applicant
(After
Rounding
Off
Ratio
of
Allottees
to the
Applicants
Serial Number
of Qaalifying
applicants
Number
of
Successful
Applicant
s (After
Rounding Off)
% to
Total
Total
No.of
Equity
Shares
allocated/
allotted
% to
Total
Surplus/
(Deficit)
3,000

 

18,915

 

100.00

 

5,67,45,000

 

100.00

 

19,59,000

 

103.57

 

3,000

 

30,869

 

18,30,39,54
98,100,103
127,178,253
270,233,305
317,324,353
413,418,453
462,480,489
512,513,518
613,675,724
730,744
653

 

100.00

 

19,59,000

 

100.00

 

0

 

Total 18,915 100.00 5,67,45,000 100.00 19,59,000 653 100.00 19,59,000 100.00 0

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors. at thc issue price of Rs 45/- per Equity Share,was finalized in consultation with NSE. The category was subscribed by 28.99 times. Total number of shares allotted, in this category is 11,73,000 Equity Shares. The category wise basis of allotment. is as under:

No.of
Shares
Applied
for
(Category
wise)
No.of
Applica
tions
received
%
to
Total
Total No.
of  Equity
Shares
upplied
% of
Total
Proport
ionate
Shares

Available
Allocation
per
Applicant
(Before
Rounding
Off
Allocation
per

Applicant
(After
Rounding
Off
Ratio
of
Allottees
to the
Applicant
Serial Number
of Qaalifying
applicants
Number
of
Successful
Applicant
s (After
Rounding Off)
% to
Total
Total
No.of
Equity
Shares
allocated/
allotted
% to
Total
urplus/
(Deficit)
6000 27 16.36 162000 0.48 5588 206.96 3000 2:27 15,24 2 1.85 6000 0.51 -412
9000 9 5.45 81000 0.24 2794 310.44 3000 1:9 4 1 0.93 3000 0.26 -206
12000 8 4.85 96000 0.28 3312 414.00 3000 1:8 3 1 0.93 3000 0.26 312
15000 6 3.64 90000 0.26 3105 517.50 3000 1:6 2 1 0.93 3000 0.26 105
18000 1 0.61 18000 0.05 621 621.00 3000 1:1 1 0.93 3000 0.26 -2379
21000 7 4.24 147000 0.43 5071 724.43 3000 2:7 1,2 2 1.85 6000 0.51 -929
24000 2 1.21 48000 0.14 1656 828.00 3000 1:2 1 1 0.93 3000 0.26 -1344
27000 2 1.21 54000 0.16 1863 931.50 3000 1:2 1 1 0.93 3000 0.26 -1137
30000 3 1.82 90000 0.26 3105 1035.00 3000 1:3 2 1 0.93 3000 0.26 105
33000 1 0.61 33000 0.10 1138 1138.00 3000 1:1 1 0.93 3000 0.26 -1862
36000 1 0.61 36000 0.11 1242 1242.00 3000 1:1 1 0.93 3000 0.26 -1758
39000 3 1.82 117000 0.34 4036 1345.33 3000 1:3 2 1 0.93 3000 0.26 1036
42000 2 1.21 84000 0.25 2898 1449.00 3000 1:2 1 1 0.93 3000 0.26 -102
45000 2 1.21 90000 0.26 3105 1552.50 3000 1:1 2 1.85 6000 0.51 -2895
48000 1 0.61 48000 0.14 1656 1656.00 3000 1:1 1 0.93 3000 0.26 -1344
51000 3 1.82 153000 0.45 5278 1759.33 3000 1:1 3 2.78 9000 0.77 -3722
54000 5 3.03 270000 0.79 9314 1862.80 3000 1:1 5 4.63 15000 1.28 -5686
57000 2 1.21 114000 0.34 3932 1966.00 3000 1:1 2 1.85 6000 0.51 -2068
60000 6 3.64 360000 1.06. 12418 2069.67 3000 1:1 6 5.56 18000 1.54 -5582
69000 1 0.61 69000 0.20 2380 2380.00 3000 1:1 1 0.93 3000 0.26 -620
.75000 2 1.21 150000 0.44 5174 2587.00 3000 1:1 2 1.85 6000 0.51 -826
81000 1 0 61 81000 0.24 2794 2794.00 3000 1:1 1 0.93 3000 0.26 -206
87000 2 1.21 174000 0.51 6002 3001.00 3000 1:1 2 1.85 6000 0.51 2
90000 1 0 61 90000 0.26 3105 3105.00 3000 1:1 1 0.93 3000 0.26 105
93000 1 0.61 93000 0.27 3208 3208.00 3000 1:1 1 0.93 3000 0.26 208
99000 2 1.21 198000 0.58 6830 3415.00 3000 1:1 2 1.85 6000 0.51 830
102000 1 0.61 102000 0.30 3518 3518.00 3000 1:1 1 0.93 3000 0.26 518
108000 3 1.82 324000 0.95 11176 3725.33 3000 1:1 3 2.78 9000 0.77 2176
111000 18 10.91 1998000 5.88 68921 3828 94 3000 1:1 18 16.67 54000 4.62 14921
120000 5 3.03 600000 1.76 20697 4139.40 3000 1:1 5 4.63 15000 1.28 5697
135000 l 0.61 135000 0.40 4657 4657.00 3000 1:1 1 0.93 3000 0.26 1657
147000 1 0.61 147000 0.43 5071 5071.00 6000 1:1 1 0.93 6000 0.51 -929
165000 3 1.82 495000 1.46 17075 5691.67 6000 1:1 3 2.78 18000 1.54 -925
198000 1 0.61 198000 0.58 6830 6830.00 6000 1:1 1 0.93 6000 0.51 830
201000 1 0.61 201000 0.59 6933 6933.00 6000 1:1 1 0.93 6000 0.51 933
204000 1 0.61 204000 0.60 7037 7037.00 6000 1:1 1 0.93 6000 0.51 1037
210000 2 1.21 420000 1.24 14488 7244.00 6000 1:1 2 1.85 12000 1 03 2488
222000 5 3.03 1110000 3.26 38289 7657.80 6000 1:1 5 4.63 30000 2.56 8289
*3000 1:5 1 1 0.93 3000 0.26 -3000
225000 1 0.61 225000 0.66 7761 7761.00 9000 1:1 1 0.93 9000 0.77 -1239
237000 1 0.61 237000 0.70 8175 8175.00 9000 1:1 1 0.93 9000 0.77 -825
255000 1 0.61 255000 0.75 8796 8796.00 9000 1:1 1 0.93 9000 0.77 -204
300000 1 0.61 300000 0.88 10348 10348.00 9000 1:1 1 0.93 9000 0.77 1348
333000 1 0.61 333000 0.98 11487 11487.00 12000 1:1 3 0.93 12000 1.03 -513
444000 3 1.82 1332000 3.92 45947 15315.67 15000 1:1 1 2.78 45000 3.85 947
555000 1 0.61 555000 1.63 19145 19145.00 18000 1:1 1 0.93 18000 1.54 1145
660000 1 0.61 660000 1.94 22767 22767.00 24000 1:1 1 0.93 24000 2.05 -1233
666000 1 0.61 666000 1.96 22974 22974.00 24000 1:1 1 0.93 24000 2.05 -1026
888000 1 0.61 888000 2 61 30631 30631.00 30000 1:1 3 0.93 30000 2.56 631
1110000 3 1.82 3330000 9.79 114868 38239.33 39000 1:1 1 2.78 117000 10.00 -2132
1554000 1 0.61 1554000 4.57 53605 53605.00 54000 1:1 1 0.93 54000 4.62 -395
1665000 1 0.61 1665000 4.90 57434 57434.00 57000 1:1 1 0.93 57000 4.87 434
2220000 1 0.61 2220000 6.53 76579 76579.00 75000 1:1 1 0.93 75000 6.41 1597
2223000 1 0.61 2223000 6.54 76682 76682.00 78000 1:1 2 0.93 78000 6.67 -1318
:2775000 2 1.21 5550000 16.32 191447 95723.50 96000 1:1 1 1.85 192000 16.41 -553
3132000 1 0.61 3132000 9.21 108037 108037.00 108000 1:1 0.93 108000 9.23 37
Total 165 100.00 34005000 100.00 1173000 - - - - 108 100.00 1173000 100.00 0
* Post proporitionate allotment, excess of 18,000 shsre are being allocated. In order to adjust the same, we are reducing 3,000 shares from the proportionate allotment arrived (9000-3000 = 6000 shares} from category 2,22,000 and again alloting additional 3,000 at ratio of 1:5 in this catecgory.

The Board of Directors of the Company at its meeting held on March 21, 2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares / dispatch of share certificates to various successful applicants.
The CAN-cum-Refund orders 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 March 23,2017. Further, the instructions to Self Cettilied Syndicate Banks being processed on or before March 21, 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 the National Stock Exchange of India Limited within Six working dayes from the date of the closure of the Issue. The trading is proposed to be commenced on or before March 24,2017 subject to recipt of listing and trading approvals from the National Stock Exchange of India Limited.

INVESTORE PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Karvy Computershare Private Limited at https://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
Address: Karvy Selenium Tower B, Plot 31-32,Gachibowli, Financial District,
Nanakramguda, Hyderabad - 500 032
Tel:: +91-40-67162222; Fax: +91-40-23431551;
Website: https://karisma karvy.com/; SE?BI REGN N0: INR000000221
Contact Person: Ms. M. Murali Krishna
Email Id: einward.ris@karvy.com
Investor Grievance Email Id: www.airan.ipo@karvy.com

Place:  Ahmedabad

Date: March 22,2017

On behalf of the Board of Directors
For Airan Limited
Sd/-
Sandeepkumar Agrawal
Managing Director
DIN: 02566480

Airan IPO Basis of Allotment FAQs

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

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

Visit the Airan 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 Airan IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).