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Apollo Micro Systems IPO Details

Issue Open Jan 10, 2018
Issue Close Jan 12, 2018
IPO Price ₹275
Face Value ₹10
IPO Size ₹156.00 Cr
Listing At BSE, NSE
IPO Lot Size 50

APOLLO MICRO SYSTEMS LIMITED

Corporate Identification Number: U72200TG1997PLC026556

Our Company was incorporated as 'Apollo Micro Systems Private Limited' on March 3,1997 in Hyderabad as a private limited company, under the Companies Act, 1956 and was granted a certificate of incorporation issued by the Registrar of Companies, Andhra Pradesh at Hyderabad. Our Company became a public limited company with effect from April 1,2017 and a fresh certificate of incorporation consequent upon conversion was issued by Registrar of Companies, Andhra Pradesh and Telangana at Hyderabad. For details in connection with the change in the registered office of our Company, refer to the chapter 'History and Certain Corporate Matters' on page 141 of the Prospectus.

Registered Office: Plot No 128/A, Road No. 12, BEL Road, IDA Mallapur, Uppal Mandal, Hyderabad - 500 076, Telangana, India. |
Tel No.: +91 40 2716 7000 - 99 | Fax No.: +91 40 2715 0820 Email: cs@apollo-micro.com | Website: www.apollo-micro.com |
Contact Person: Vitta Chaitanya Siva Shankar, Company Secretary and Compliance Officer

OUR PROMOTER: KARUNAKAR REDDY BADDAM

BASIS OF ALLOTMENT

The Equity Shares are proposed to be listed on the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading will commence on January 22, 2018, subject to receipt or listing and trading approvals from the Stock Exchanges.

PUBLIC ISSUE OF 57,63,886 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF APOLLO MICRO SYSTEMS LIMITED (OUR 'COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 275* PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 265 PER EQUITY SHARE, AGGREGATING UP TO RS 15,600.00 LACS (THE 'ISSUE'). THE ISSUE AND THE NET ISSUE SHALL CONSTITUTE 27.76% AND 27.66%, RESPECTIVELY OF THE FULLY DILUTED POST-ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE WILL COMPRISE THE NET ISSUE OF UP TO 57,43,886 EQUITY SHARES AND THE EMPLOYEE RESERVATION PORTION OF UP TO 20,000 EQUITY SHARES.

*A discount of Rs 12 on the Issue Price is offered to Retail Individual Investors ('Retail Discount') and to Eligible Employees Bidding in the Employee Reservation Portion ('Employee Discount').

THE FACE VALUE OF EQUITY SHARES IS RS 10 EACH. THE ANCHOR INVESTOR ISSUE PRICE IS RS 275 PER EQUITY SHARE. THE ISSUE PRICE IS RS 275 PER EQUITY SHARE, WHICH IS 27.50 TIMES THE FACE VALUE OF THE EQUITY SHARE.

Risks to Investors:

i. The Book Running Lead Manager associated with the Issue has handled 19 public issues in the past three years, out of which 1 issue closed below the issue price on listing date,
ii. Average cost of acquisition per Equity Share by our Promoter is Rs 8.64 and the Issue Price at the upper end of the Price Band is Rs 275.

BID / ISSUE OPENED ON: WEDNESDAY, JANUARY 10, 2018*
PROGRAMME  
CLOSED ON: FRIDAY, JANUARY 12, 2018

*ANCHORE INVESTOR BIDDING DATE: JANUARY 09,2018

Pursuant to Rule 19(2) (b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the 'SCRR'), this Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company. The Issue is being made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the 'SEBI ICDR Regulations'), through the Book Building Process wherein 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'), provided that our Company in consultation with the BRLM may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Issue Price, in accordance with the SEBI ICDR Regulations. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further up to 20,000 Equity Shares may be offered for allocation and Allotment on a proportionate basis to the Eligible Employees Bidding in the Employee Reservation Portion, conditional upon valid Bids being received from them at or above the Issue Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount ('ASBA') process by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks ('SCSBs') to participate in the Issue. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. Specific attention of investors is invited to the chapter titled 'Issue Procedure' on page 272 of the Prospectus.

The Issue received 13,43,132 Applications for 1,01,98,28,150 Equity Shares (before technical rejections) resulting in 250.71 times subscription. The details of the Applications received in the Issue from various categories are as under (Before technical rejections)
Detail of the Applications Received (Excluding Anchor Investor Portion):

Sr. No. Category No. of Applications No. of Equity Shares Equity Shares Reserved No. of Times Subscribed Amount
(In Rs lacs)
1 Retail Individual Investors 13,37,750 8,26,74,650 20,69,046 39.96 2,17,565.61
2 Non - Institutional Investors 1,452 81,95,56,950 8,48,040 966.41 22,53,781.61
3 Qualified Institutional Buyers (Excluding Anchor Investors) 67 11,72,80,800 11,30,750 103.72 3,22,522.20
4 Eligible Employee 3,863 3,15,750 20,000 15.79 829.50
Total 13,43,132 1,01,98,28,150 40,67,836 250.71 27,94,698.92

Note: Anchor Investor Portion received 4 applications for a total of 18,77,800 Equity Shares against 16,96,080 Equity Shares resulting in oversubscription in this category of 1.11 times aggregating to Rs 5,163.95 lacs. Further, the Company has allocated 16,96,050 Equity Shares in this Category.

Final Demand:

A summary of the final demand as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

Sr. No. Bid Price Bids Quantity (% to Total) Cumulative Total % Cumulative Total
1 270 2,01,550 0.02% 1,03,00,72,250 100.00%
2 271 12,400 0.00% 1,02,98,70,700 99.98%
3 272 21,500 0.00% 1,02,98,58,300 99.98%
4 273 12,350 0.00% 1,02,98,36,800 99.98%
5 274 13,050 0.00% 1,02,98,24,450 99.98%
6 275 96,15,07,500 93.34% 1,02,98,11,400 99.97%
7 Cut Off 6,83,03,900 6.63% 6,83,03,900 6.63%
Total 1,03,00,72,250 100.00%

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange-BSE Limited on January 18,2018.

1) ALLOTMENT TO RETAIL INDIVIDUAL INVESTORS (AFTER TECHNICAL REJECTIONS): The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at or above the Issue Price of  Rs 275 per Equity Share (less discount of Rs 12), was finalized in consultation with BSE. The category has been subscribed to the extent of 39.04 times. The total number of Equity Shares Allotted in this category is 20,69,046 Equity Shares to 41,380 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
Shares Applied
in Each Category
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Shares
Allotted
50 12,19,071 93.14 6,09,53,550 75.46 50 3:95 19,27,000
100 45,277 3.46 45,27,700 5.61 50 3:95 71,550
150 10,899 0.83 16,34,850 2.02 50 2:63 17,250
200 9,474 0.72 18,94,800 2.35 50 2:63 15,000
250 4,201 0.32 10,50,250 1.30 50 2:63 6,650
300 2,890 0.22 8,67,000 1.07 50 1:32 4,550
350 2,392 0.18 8,37,200 1.04 50 2:63 3,800
400 2,365 0.18 9,46,000 1.17 50 2:63 3,750
450 534 0.04 2,40,300 0.30 50 2:63 850
500 2,490 0.19 12,45,000 1.54 50 2:63 3,950
550 501 0.04 2,75,550 0.34 50 2:67 750
600 605 0.05 3,63,000 0.45 50 1:32 950
650 325 0.02 2,11,250 0.26 50 2:65 500
700 3,703 0.28 25,92,100 3.21 50 3:95 5,850
750 4,181 0.32 31,35,750 3.88 50 3:95 6,600
1 Additional Share is allotted (except to1st category) in the ritio of 1 1:62 46
Total 13,08,908 100.00 8,07,74,300 100.00 20,69,046

2) ALLOTMENT TO NON INSTITUTIONAL BIDDERS (AFTER TECHNICAL REJECTIONS): The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price of Rs 275 per Equity Share or above, was finalized in consultation with the BSE. This category has been subscribed to the extent of 963.53 times. The total number of Equity Shares allotted in this category is 8,48,040 Equity Shares to 545 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample basis):

No. of Shares
Applied for
(Category Wise)
No. of
Applications
Received
% to
Total
Total No. of
Shares Applied
in Each Category
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Shares
Allotted
750 90 6.31 67,500 0.01 50 1:90 50
800 184 12.90 1,47,200 0.02 50 3:184 150
850 10 0.70 8,500 0.00 50 0:10 0
900 33 2.31 29,700 0.00 50 1:33 50
950 11 0.77 10,450 0.00 50 0:11 0
1,500 17 1.19 25,500 0.00 50 1:17 50
1,550 1 0.07 1,550 0.00 50 0:1 0
1,600 15 1.05 24,000 0.00 50 1:15 50
2,650 1 0.07 2,650 0.00 50 0:1 50
2,700 2 0.14 5,400 0.00 50 0:2 0
2,750 2 0.14 5,500 0.00 50 0:2 0
10,550 2 0.14 21,100 0.00 50 1:2 50
10,950 1 0.07 10,950 0.00 50 0:1 0
11,000 1 0.07 11,000 0.00 50 0:1 0
26,850 1 0.07 26,850 0.00 50 1:1 50
26,900 1 0.07 26,900 0.00 50 1:1 50
27,250 2 0.14 54,500 0.01 50 1:2 50
40,000 4 0.28 1,60,000 0.02 50 3:4 150
41,800 1 0.07 41,800 0.01 50 1:1 50
43,600 1 0.07 43,600 0.01 50 1:1 50
43,750 1 0.07 43,750 0.01 50 1:1 50
1,00,700 1 0.07 1,00,700 0.01 105 1:1 105
1,05,400 1 0.07 1,05,400 0.01 109 1:1 109
1,09,050 4 0.28 4,36,200 0.05 113 1:1 452
1,09,100 1 0.07 1,09,100 0.01 113 1:1 113
10,90,000 1 0.07 10,90,000 0.13 1131 1:1 1,131
10,90,900 6 0.42 65,45,400 0.80 1132 1:1 6,792
11,00,000 2 0.14 22,00,000 0.27 1142 1:1 2,284
21,81,800 1 0.07 21,81,800 0.27 2264 1:1 2,264
21,81,850 1 0.07 21,81,850 0.27 2264 1:1 2,264
23,63,600 1 0.07 23,63,600 0.29 2453 1:1 2,453
25,52,750 1 0.07 25,52,750 0.31 2649 1:1 2,649
39,60,000 12 0.84 4,75,20,000 5.82 4110 1:1 49,320
39,63,600 15 1.05 5,94,54,000 7.28 4114 1:1 61,710
39,63,650 4 0.28 1,58,54,600 1.94 4114 1:1 16,456
39,76,350 9 0.63 3,57,87,150 4.38 4127 1:1 37,143
39,76,650 54 3.79 21,47,39,100 26.28 4127 1:1 2,22,858
39,76,650 Serial No. of Qualifying Bid is 2 1 1:3 18
Total 1426 100.00 81,71,13,150 100.00 8,48,040

3) ALLOTMENT TO QIBS EXCLUDING ANCHOR INVESTORS: Allotment to QIBs, who have bid at the Issue Price of Rs 275 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 103.72 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 56,538 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 10,74,212 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 11,30,750 Equity Shares, which were allotted to 66 successful Applicants.

Category FIs/BANKS MPs FPI AIF FII OTHERS Total
QIB 11 26 14 2 1 12 66

4) Allotment to Anchor Investors

Category MPs FPI Total
QIB 8,48,000 8,48,050 16,96,050

The Company in consultation with the BRLM has Allocated 16,96,050 Equity Shares to 4 Anchor Investors through 4 Applications at the Anchor Investor Issue Price of Rs 275 per Equity Shares in accordance with the SEBI Regulations.
This represents 60 % of the QIB Category.

5) ALLOTMENT TO ELIGIBLE EMPLOYEES (AFTER TECHNICAL REJECTIONS): The Basis of Allotment to the Eligible Employees under Employee reservation portion, who have bid at cut-off or at the Issue Price of Rs 275 per Equity Share (less discount of Rs 12), was finalized in consultation with the BSE. This category has been subscribed to the extent of 1.00 times. The total number of Equity Shares Allotted in Employee category is 20,000 Equity Shares to 37 successful applicants. The category-wise details of the Basis of Allotment are as under:

Allocation to employees who have applied unto Rs 2 Lacs:

No. of Shares
Applied for
(Category Wise)
No. of
Applications
Received
% to
Total
Total No. of
Shares Applied
in Each Category
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Shares
Allotted
50 9 28.13 450 3.83 50 1:1 450
100 2 6.25 200 1.70 100 1:1 200
150 2 6.25 300 2.55 150 1:1 300
200 3 9.38 600 5.11 200 1:1 600
300 1 3.13 300 2.55 300 1:1 300
400 2 6.25 800 6.81 400 1:1 800
450 1 3.13 450 3.83 450 1:1 450
500 1 3.13 500 4.26 500 1:1 500
650 1 3.13 650 5.53 650 1:1 650
750 10 31.25 7,500 63.83 750 1:1 7,500
Total 32 100.00 11,750 100.00 11,750

Allocation to employees who have applied above Rs 2 Lacs:

No. of Shares
Applied for
(Category Wise)
No. of
Applications
Received
% to
Total
Total No. of
Shares Applied
in Each Category
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No.
of Shares
Allotted
1,400 1 20.00 1,400 16.97 1,400 1:1 1,400
1,500 1 20.00 1,500 18.18 1,500 1:1 1,500
1,550 1 20.00 1,550 18.79 1,550 1:1 1,550
1,900 2 40.00 3,800 46.06 1,900 1:1 3,800
Total 5 100.00 8,250 100.00 8,250

The Board of Directors of our Company at its meeting held on January 18, 2018 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched / mailed for unblocking of funds and transfer to the Public Issue Account on or before January 18, 2018. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on or before January 19, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of filing the Listing application with BSE and NSE on or before January 19, 2018. Our Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within 6 working days 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 January 16,2018 filed with the Registrar of Companies, Andhra Pradesh & Telangana at Hyderabad ('RoC').

INVESTORS PLEASE NOTE

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: 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 Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai- 400059
Tel: +91 22- 6263 8200 | Fax: +91 22 - 6263 8299 | Email: ipo@bigshareonline.com
Investor Grievance Email: investor@bigshareonline.com | Website: www.bigshareonline.com
Contact Person: Mr. Ashok Shetty | SEBI Registration No: INR000001385

Place: Hyderabad

Date: January 20,2018

For Apollo Micro Systems Limited
On behalf of Board of Directors
Sd/-
Company Secretary and Compliance Officer

Apollo Micro Systems IPO Basis of Allotment FAQs

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

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

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