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Artemis Electricals IPO Details
IPO Date Apr 24, 2019 - May 6, 2019
IPO Price ₹60
Face Value ₹10
IPO Size ₹42.00 Cr
Listing At BSE SME
IPO Lot Size 2000

Our Company was originally incorporated as "Artemis Electricals Private Limited" as a private limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated October 26, 2009 bearing Corporate Identification Number U51505MH2009PTC196683 issued by Registrar of Companies, Mumbai, Maharashtra. Subsequently, our Company was converted into a public limited Company pursuant to special resolution passed by the shareholders at the Extraordinary General Meeting held on July 25, 2015 and fresh certificate of incorporation consequently upon change of name was issued by Registrar of Companies, Mumbai, Maharashtra dated August 27, 2015 and name of our Company was changed to "Artemis Electricals Limited". The Corporate Identification Number is U51505MH2009PLC196683. For details of incorporation, change of name and registered office of our Company, please refer to the chapter titled "'General Information" and "History and Certain Other Corporate Matters" beginning on page 54 and 156 respectively of the Prospectus.

Registered Office: Artemis Complex, Gala No.105 & 108, National Express Highway, Vasai (East), Thane- 401208, Maharashtra, India.; Tel No: +91-7875315577
Corporate Office: 201 A, A Wing, 2nd Floor, Fortune 2000, G Block, BKC, Bandra [East], Mumbai -400051 Maharashtra, India.; Tel No: 022-26530163/64
Email: contact@artemiselectricals.com; Website: www.artemiselectricals.com; Contact Person: Alheena Khan, Company Secretary & Compliance Officer
PROMOTERS OF OUR COMPANY: PRAVIN KUMAR AGARWAL & M/S YASHVIKRAM INFRASTRUCTURE PRIVATE LIMITED
BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 70,00,000 EQUITY SHARES OF FACE VALUE OF RS.10.00/- EACH ("EQUITY SHARES" OF ARTEMIS ELECTRICALS LIMITED ("THE COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 60 PER EQUITY SHARE (THE "ISSUE PRICE"), INCLUDING A PREMUIM OF RS 50 PER EQUITY SHARE), AGGREGATING RS. 4,200 LAKHS ("THE ISSUE"), OF WHICH 3,56,000 EQUITY SHARES OF FACE VALUE OF RS.10.00/- FOR CASH AT A PRICE OF RS. 60 EACH AGGREGATING RS. 213.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 66,44,000 EQUITY SHARES OF FACE VALUE OF RS.10.00 EACH FOR CASH AT A PRICE OF RS. 60 PER EQUITY SHARE, AGGREGATING TO RS. 3,986.40 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.34% AND 26.89% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER IX OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018 (THE "SEBI (ICDR) REGULATIONS"), AS AMENDED. IN TERMS OF RULE 19(2)(b)(i) OF THE SECURITIES CONTRACTS (REGULATION) RULES, 1957, AS AMENDED, THIS IS AN ISSUE FOR AT LEAST 25% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY THIS IS BOOK BUILT ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 253 OF THE SEBI (ICDR) REGULATIONS, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "ISSUE PROCEDURE" BEGINNING ON PAGE 275 OF THE PROSPECTUS.

RISKS TO INVESTORS:
I. As on date of the Prospectus, the average cost of acquisition per Equity Share to our Promoters is Rs.1.16/- of Pravin Kumar Agarwal and Rs.1.41/- of M/s. Yashvikram Infrastructure Private Limited.
II. This being the first public Issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs.10 each. The Floor Price is 5.4 times the face value and the Cap Price is 6.0 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM) as stated in "Basis for Issue Price" on page 88 should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing

In terms of Prospectus dated May 07, 2019 and as per SEBI (ICDR) Regulations, 2018 wherein: minimum 50% of the Net Issue is allocated for Retail Individual Applicants and the balance shall be offered to individual applicants other than Retail Individual Applicants and other investors including corporate bodies or institutions, QIBs and Non- Institutional Applicants. However, if the aggregate demand from the Retail Individual Applicants is less than 50%, then the balance Equity Shares in that portion will be added to the non-retail portion offered to the remaining investors including QIBs and Nils and vice-versa subject to valid Applications being received from them at or above the Issue Price. Additionally, if the Retail Individual Applicants category is entitled to more than fifty per cent on proportionate basis, the Retail Individual Applicants shall be allocated that higher percentage. However, the Application by an Applicant should not exceed the investment limits prescribed under the relevant regulations/statutory guidelines. Under-subscription, if any, in any category, would be allowed to be met with spill over from any other category or combination of categories, at the discretion of our Company in consultation with the BRLM and the Designated Stock Exchange.

THE FACE VALUE OF EQUITY SHARES IS RS.10/- EACH.
THE ISSUE PRICE IS RS. 60/- AND IS 6.0 TIMES THE FACE VALUE OF THE EQUITY SHARES
ISSUE OPENED ON: APRIL 24, 2019 AND CLOSED ON: MAY 06, 2019

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE SME"). Our Company has received an approval letter dated March 25, 2019 from BSE Limited for using its name in the offer document for listing of our shares on the SME Platform of BSE Limited. For the purpose of this Issue, BSE Limited shall be the Designated Stock Exchange

SUBSCRIPTION DETAILS

The Issue has received 842 applications for 70,58,000 Equity shares (before rejections, before bids not banked but before Invalid Multiple / Duplicate bid) including Market Maker Application of 3,56,000 Equity Shares. The issue was subscribed to the extent of 1.01 times as per the application data (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids). After considering the technical rejections cases, the issue was subscribed 0.990 times.

The details of application received (Before Technical Rejection but after bids not banked and application banked but not registered)

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES SUBSCRIPTION
Market Maker 2 3,56,000 1.00
Other than Retail Individual Investor 85 51,36,000 1.54
Retail Individual Investors 747 14,49,000 0.44
Underwriters Obligation 1 68,000 -
Total 835 70,00,000 1.00

Final Demand:

SN. Bid Price No. of Equity Shares % to total Cumulative total % of cumulative total
1 54 2,000 0.03% 2000 0.03%
2 55 10,000 0.14% 12000 0.17%
3 56 6,000 0.09% 18000 0.26%
4 60 59,06,000 83.68% 59,24,000 83.93%
5 Cut-off 11,34,000 16.07% 70,58,000 100.00%
  Total 70,58,000 100.00    

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on May 09, 2019.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Makers, at the issue price of Rs. 60/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 3,56,000 Equity shares in full out of reserved portion of 3,56,000 Equity Shares.
No. of Shares Applied for (Category wise) No. of Applications received % to Total Total No. of Shares applied in each category % to total Proporti onate Shares Available Allocation per Applicant Ration of Allottees to the Applicants Total No. of shares allocated/ allotted % to Total Surplus/ Deficit (6)-(12)
(1) (2) (3) (4) (5) (6) Before Rounding off (7) After Rounding off (8) (9) (10) (11) (12)
142000 1 50.00 142000 39.89 142000.00 142000.00 142000.00 1 1 142000.00 39.89 0.00
214000 1 50.00 214000 60.11 214000.00 214000.00 214000.00 1 1 214000.00 60.11 0.00
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 60/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.44 times. Total number of shares allotted in this category is 14,44,000 Equity Shares. The category wise basis of allotment is 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 Proportionate Shares Available Allocation per Applicant Ration of Allottees to the Applicants Total No. of shares allocated/ allotted % to Total Surplus/ Deficit (6)-(12)
(1) (2) (3) (4) (5) (6) Before Rounding off (7) After Rounding off (8) (9) (1?) (11) (12)
2000 722 100.00 14,44,000 100.00 33,22,000 4601.11 2000 1 1 14,44,000 100.00 -18,78,000*

* Surplus 18,78,000 Equity Shares are spillover to Other than Retail Individual Investor

C. Allocation to Other than Retail Individual Investor (HNI) (After Technical Rejection): 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 BSE Limited. The category was subscribed by 1.55 times. Total number of shares allotted in this category is 52,00,000 Equity Shares. (Including unsubscribed portion of 18,78,000 Equity Shares of Retail Individual Investors Category & Underwritten Portion of 68,000 Equity hares) The category wise basis of allotment is 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 Proportionate Shares Available Allocation per Applicant Ration of Allottees to the Applicants Total No. of shares allocated/ allotted % to Total Surplus/ Deficit (6)-(12)
(1) (2) (3) (4) (5) (6) Before Rounding off (7) After Rounding off (8) (9) (10) (11) (12)
4000 9 10.71 36000 0.70 36477.01 4053.00 4000 1 1 36000 0.70 -477.01
6000 21 25.00 126000 2.46 127669.52 6079.50 6000 1 1 126000 2.46 -1669.52
8000 6 7.14 48000 0.94 48636.01 8106.00 8000 1 1 48000 0.94 ￿636.01
10000 9 10.71 90000 1.75 91192.52 10132.50 10000 1 1 90000 1.75 -1192.52
12000 1 1.19 12000 0.23 12159.00 12159.00 12000 1 1 12000 0.23 -159.00
14000 1 1.19 14000 0.27 14185.50 14185.50 14000 1 1 14000 0.27 -185.50
16000 8 9.52 128000 2.49 129696.02 16212.00 16000 1 1 128000 2.49 -1696.02
18000 6 7.14 108000 2.10 109431.02 18238.50 18000 1 1 108000 2.10 -1431.02
20000 3 3.57 60000 1.17 60795.01 20265.00 20000 1 1 60000 1.17 -795.01
26000 1 1.19 26000 0.51 26344.51 26344.51 26000 1 1 26000 0.51 -344.51
30000 1 1.19 30000 0.58 30397.51 30397.51 30000 1 1 30000 0.58 -397.51
32000 2 2.38 64000 1.25 64848.01 32424.01 32000 1 1 64000 1.25 -848.01
36000 1 1.19 36000 0.70 36477.01 36477.01 36000 1 1 36000 0.70 -477.01
50000 2 2.38 100000 1.95 101325.02 50662.51 50000 1 1 100000 1.95 -1325.02
60000 2 2.38 120000 2.34 121590.02 60795.01 60000 1 1 120000 2.34 -1590.02
80000 1 1.19 80000 1.56 81060.02 81060.02 80000 1 1 80000 1.56 •1060.02
84000 2 2.38 168000 3.27 170226.03 85113.02 84000 1 1 168000 3.27 -2226.03
110000 1 1.19 110000 2.14 111457.52 111457.52 110000 1 1 110000 2.14 -1457.52
166000 2 2.38 332000 6.47 336399.06 168199.53 166000 1 1 332000 6.47 -4399.06
200000 1 1.19 200000 3.90 202650.04 202650.04 200000 1 1 200000 3.90 -2650.04
250000 1 1.19 250000 4.87 253312.55 253312.55 250000 1 1 250000 4.87 -3312.55
416000 1 1.19 416000 8.11 421512.08 421512.08 416000 1 1 416000 8.11 -5512.08
832000 1 1.19 832000 16.21 843024.16 843024.16 832000 1 1 832000 16.21 -11024.16
1746000 1 1.19 1746000 34.02 1769134.84 1769134.84 1746000 1 1 1746000 34.02 -23134.84
Total 84 100.00   100.00 5200000.00         5132000 100.00 -68000*

*As per prospectus dated May 07, 2019, the issue is 100% underwritten with reference to underwriting agreement dated March 11, 2019. As HNI/NII category is technically under subscribed to the extent of 68,000 Equity shares due to rejection of certain applications and other varied reasons. Thus, the Underwriter is obliged to subscribe the unsubscribed portion in terms of the cited underwriting agreement. Hence, the Underwriter has infused Rs. 50,00,000 for the said obligation (the excess of Rs. 9,20,000 shall be refunded) for allotment of 68,000 Equity shares at the rate of Rs. 60.00 (cut off price) per Equity Share by transferring funds in to public issue account no. 000405119242 having account title ARTEMIS ELECTRICALS LIMITED-PUBLIC ISSUE ACCOUNT with ICICI Bank on May 09, 2019, which was therein considered while doing basis of allotment under HNI portion. The Board of Directors of the Company at its meeting held on May 10, 2019 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before May 10, 2019. Further, the instructions to SCSBs has been issued on May 11, 2019 for unblocking of funds. 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. In case the same is not received within prescribed time, Investors may contact the Registrar to the Issue at the address given below. 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. The trading is proposed to commence on or before May 14, 2019 subject to receipt of listing and trading approvals from BSE Limited.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.cameoindia.com. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:

CAMEO CORPORATE SERVICES LIMITED
Subramanian Building No.1,Club House Road, Chennai -6000002 Tel No.: +9144 40020700; For Artemis Electricals Limited
Fax No.: +91 44 28460129 E-mail: cameo@cameoindia.com; Website: www.cameoindia.com On behalf of the Board of Directors
Contact Person: Mr. R.D. Ramasamy SEBI Registration No.: INR000003753 Sd/-
Investor Grievance E-mail: investor@cameoindia.com Pravin Kumar Agarwal
Date: May 11, 2019 Place: Mumbai Director
Find the basis of allotment for Artemis Electricals IPO. The basis of allotment document helps to understand how shares are allotted in IPO of Artemis Electricals Limited. It provides detail about how many valid IPO applications received for Artemis Electricals IPO and IPO allotment ratio in investor categories i.e. Retail, NII, QIB, Employee and Shareholders. You could find the answer to questions like; why I didn't get IPO allotment in Artemis Electricals IPO? or what is the Artemis Electricals IPO allotment ratio?

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