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Art Nirman IPO Details

Issue Open Sep 30, 2016
Issue Close Oct 7, 2016
IPO Price ₹25
Face Value ₹10
IPO Size ₹5.01 Cr
Listing At NSE SME
IPO Lot Size 6000

ART NIRMAN LIMITED

C1N No,: U45200GJ2011PLC064107

Our Company was originally incorporated as 'Vishnudhara Builders Private Limiled' on February 19.2011 under the provisions of Companies Act. 1956 with Registrar of Companies, Gujarat. Dadra and Nagar Havelli vide registration no. 064107 (CIN: U45200GJ2011 PTC064107) Pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting of the Company held on July 04, 2011 and fresh Certificate of Incorporation dated July 19, 2011 issued by the Registrar of Companies, Gujarai Dadra and Nagar Havelli the name of our Company was changed to 'Vishnudhara Buildcom Private Limited' . Later vida Shareholders Resolution passed at the Extra Ordinary General Meeting of the Company held on September 23, 2011 and a fresh Certificate of Incorporation dated October 08, 2011 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli the name of our Company was changed to 'ART Nirman Private Limited'. Subsequently, our Company was converted into a Public Limited Company pursuant to Shareholder's Resolution passed at the Extra Ordinary General Meeting of the Company held on August 16,3016 and the name of our Company was changed from 'Art Nirman Private Limiled' to 'Art Nirman Limiterd' vide a fresh Certificate of Incorporation dated September 02. 2016 having CIN U45200GJ2011PLC064107 issued by the Registrar of Companies. Ahmedabad. For details of the changes in our Name, please see section titled 'History and Certain Corporate Matters' on page 127 of the Prospectus.

Registered Office:.14 JBR Arcade. 2nd Floor R K. Royal Hall. Science City Main Road Sola. Ahmedabad Gujarat -380060. India. Tel No.: + 91 8866404499 Email: info@artnirman.com | Website; www.artnirman.com | Contact Person: Ms. Ziral Pankaj Kumar Soni (Campany Secretary & Compliance Officer)

PROMOTERS OF OUR COMPANY: Mr. ASHOKKUMAR RAGHURAM THAKKER

BASIS OF ALLOTMENT

PUBLIC ISSUE. OF 20.04,000 EQUITY SHARES OF FACE VALUE Of  RS 10.00 EACH OF ART NIRMAN LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 25 .00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 15.00 PER EQUITY SHARE) (' ISSUE PRICE ') AGGREGATING TO RS 501.00 LAKHS ('THE ISSUE') OF WHICH 1,02,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 25.00 PER EQUITY SHAHE, AGGREGATING; TO T 25.50 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 19,02,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 25. 00 PER EQUITY SHARE AGGREGATING TO RS 475.50 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.25% and 25 01%, 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 239 OF THE PROSPECTUS.
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 (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 PAGE 248 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE ISSUE PRICE IS 25
THE ISSUE PRICE IS 2.5 TIMES OF THE FACE VALUE
ISSUE OPENED ON FRIDAY, SEPTEMBER 30, 2016 ANO CLOSED ON FRIDAY, OCTOBER 07, 2016.
PROPOSED LISTING: WEDNESDAY OCTOBER 19, 2016

The Equity Shares offered througy the Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ('NSE' i.e.'NSE EMERGE'). 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 approval letter dated September 26, 2016 from NSE for using its name in this offer document for listing of our shares on the SME Platform of NSE. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. ('NSE EMERGE'). The trading is proposed to be commenced on or about October 19. 2016*
'Subject to receipt of listing and trading approvals from the National Stock Exchange of India 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 Self Certified Syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 207 applications for 32.64,000 Equity Shares resulting in 1.6287 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 0.48 1.02.000 3.12 1
Retail Individual Investos 151 72.95 9.06.000 27.76 0.95
Other than Retail Individual Investos 55 26.57 22.56.000 69.12 2.38
Total 207 100 32,64,000 100

The details of applications rejected by the Registrar on technical grounds are detailed below:

Category No. of
Applications
No of
Equity Shares
Markat Makers Nil Nil
Retail Individual Investos 6 36.000
Other than Retail Individual Investos 1 42.000
Total 7 78,000

Affter eliminating techrically rejected applications. the following tables give us category wise net valid applications:

Category No.of
Application
% Reseved Portion
(as per Prospectus)
No.of valid
Shares applied
% of Total
Applied
Subscription
(Times)
Market Maker 1 100 1,02,000 1.02,000 100 1.00
Total 1 100 1,02,000 1,02,000 100 1.00
Category No. of Applications % Reserved Portion (as per Prospectus) Proportionale Issue Size ( After rounding off) No.of Valid Shares applied % of Total Applied Subscription (Times)
Retail Individual Investos 145 72.86 9.54.000 8,70,000 8,70,000 28.21 1.00
Other than Retail Individual Investos 54 27.14 9,48,000 10,32,000 22,14,000 71.79 2.15
Total 199 100 19,02.000 19.02.000 30.84.000 100

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on October 14, 2016
A. Allocation to Market Maker (After Technical Rejections & Withdrawa): The Basis of Allotment to the Market Maker, at the issue price of  Rs 25 per Equity Share, was finalised in Consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 102,000 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 Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
 

No of Shares
Shares
Surplus/
Deficit

1,02,000 1 100.00 1,02,000 100.00 102,000 102,000 102,000 1 1 1 102.000 -
Total 1 100.00 1,02,00 D 100.00 102.000 102.000 102.000 1 1 1 102.000 -

B. Allocation to Retail Individual investors (After Technical Rejections & Withdrawa): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 25 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times i.e. for 8.70,000 Equity Shares. Total number of shares allotted in this category is 8,70,000 Equity Shares to 145 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 Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
 

No of Shares
Shares
Surplus/
Deficit

6000 145 100.00 8,70,000 100.00 8.70 000 6000.00 6000.00 1 1 145 8,70,000 -
Total 145 100.00 8.70.000 100.00 8,70.0D0 6000.00 6000. 00 145 8.70.000 -

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 25  psr Equity Share, was finalized in consutlaton with National Stock Exchange of India Limned. The category was subscribed by 2.15 times i.e.for 22,14,000 shares the total number of shares allotted in this category is 10,32.000 Equity Shares to 53 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 Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
 

No of Shares
Shares
Surplus/

12000 12 22.22 144.000 6.50 67122 5593.50 6,000 11 12 11 66.000 1122
18000 8 14.81 144.000 6.50 67122 8390.25 5.000 1 1 8 48,000 19122
6,000 3 8 18,000 -18000
24000 13 24.07 312.000 14.09 145431 11187.00 12.000 1 1 13 1.56.000 -10569
30000 7 12.96 210.000 9.49 97886 13983.71 12,000 1 1 7 84,000 13886
6,000 2 7 12,000 -12000
36000 2 3.70 72.000 3.25 33561 16780.50 18.000 1 1 2 36.000 -2439
42000 2 3.70 84.000 3.79 39155 19577.50 18,000 1 1 2 36,000 3155
60000 1 1.85 60.000 2.71 27967 27967.00 30.000 1 1 1 30,000 -2033
78000 1 1.85 78,000 3.52 36358 36358.00 36.000 1 1 1 36,000 358
96000 1 1.85 96.000 4.34 44748 44748.00 42,000 1 1 1 42.000 2748
108000 1 1.85 108.000 4.88 50341 50341.00 48.000 1 1 1 48.000 2341
120000 3 5.56 360,000 16.26 167805 55935.00 54,000 1 1 3 1,62,000 5805
6.000 1 3 6.000 -6000
150000 1 1.85 150.000 6.78 69919 69919.00 72.000 1 1 1 72.000 -2081
198000 2 3.70 396.000 17.89 184585 92292.50 90,000 1 1 2 1.80.000 4565
Total 54 100 2214000 100 1032000 53 10,32,000 0

The Board of Directors of the Company at its meeting held on October 14, 2016 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and has authorized the corporato action for the transfer of the Equity Shares to various successful applicants.
The CAN-cum-Refund advices and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on or before October 17.2016. Further; the instructions to Sell Certified Syndicate Banks for unblocking the amount have been processed on or prior to October 15. 2017. In case the same is not unblocked within 10 days, investors may contact at the address given below. The Equity Shares allocated to successlul applicants are being credited to their benellclary accounts subject to validation ot the account details with the depositaries 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 (NSE EMERGE} 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 September 26. 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 Road, Andheri (East). Mumbai- 400 072. Maharashtra, India.
Tel; +91 - 22 - 2851 5605 / 44; Fax: +91 - 22 - 2851 2885; Investor Grievance Email; anl.ipo@sharexindia.in; Email; sharexindia@vsnl.com
Website; www.sharexindia.com; Contact Person: Mr. K. C. Ajitkumar: SEBI Registration No.: INR000002102

Place; Ahmedabad

Date; 17.10.2016

For Art Nirman Limited
On behalf of the Board of Directors
Sd/-
Mr. Ashokkumar Raghuram Thaker
Managing Director

Art Nirman IPO Basis of Allotment FAQs

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

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

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