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Bombay Super Hybrid Seeds IPO Details

Issue Open Apr 12, 2018
Issue Close Apr 17, 2018
IPO Price ₹60
Face Value ₹10
IPO Size ₹10.39 Cr
Listing At NSE SME
IPO Lot Size 2000

BOMBAY SUPER HYBRID SEEDS LIMITED

Our Company was originally Incorporated as 'Jadavjibhai Devrajbhal Patel' a partnership firm formed and registered under the provisions of the Partnership Act, 1932 (Reg. No. - GUJ-RJT-71371) on April 01, 2000, further the name of the Partnership firm was changed to 'Patel Jadavjibhai Devrahbhai' vide Partnership deed dated October 01, 2012. Subsequently, the name of the Partnership Firm was changed to 'Bombay Super Agriseeds vide Partnership deed dated April 01, 2014. Subsequently, the name of the Partnership Firm was changed to 'Bombay Super Hybrid Seeds vide Partnership deed dated June 28, 2014. Subsequently, the partnership firm was converted into Company and the name was changed to 'Bombay Super Hybrid Seeds Private Limited' on July 28, 2014 under the provisions of Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Ahmedabad, Gujarat,. Subsequently, pursuant to shareholders resolution passed in the Extra-ordinary General Meeting held on August 21, 2017 our Company was converted into a public company and consequently name was changed to 'Bombay Super Hybrid Seeds Limited' vide fresh certificate of incorporation dated September 14, 2017 issued by Registrar of Companies, Ahmedabad, Gujarat. For further details about the Company, please refer section titled 'History and Certain Corporate Matters' on page 168 of the Prospectus.

Corporate Identification Number: U01132GJ2014PLC080273
Registered Office: Shrinathji Industrial Estate, Plot No.-11, Near Kuvadava GIDC, 8-B, National Highway, Rajkot - 360023, Gujarat, India
Tel No: +91-9687967096 | E-mail: cs@bombaysuper.in | Website: www.bombaysuperseeds.com
Contact Person: Ms. Mona K. Rathod (Company Secretary & Compliance officer)
Promoters: Mr. Arvindkumar Jadavbhai Kakadia and Mr. Kiritkumar Jadavjibhai Kakadia

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 17,32,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF BOMBAY SUPER HYBRID SEEDS LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 60 PER EQUITY SHARE ('ISSUE PRICE') AGGREGATING TO RS 1039.20 LAKHS ('THE ISSUE'), OF WHICH 88,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR A CASH PRICE OF RS 60 PER EQUITY SHARE, AGGREGATING TO RS 52.80 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 16,44,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH AT AN ISSUE PRICE OF RS 60 PER EQUITY SHARE AGGREGATING TO RS 986.40 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.41% AND 25.07%, 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 279 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 'SEBIICDR 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 289 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE IS RS 60
THE ISSUE PRICE IS 6.00 TIMES OF THE FACE VALUE.
ISSUE OPENED ON: APRIL 12, 2018 AND CLOSED ON: APRIL 17, 2018

PROPOSED LISTING: APRIL 25, 2018

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of NSE ('NSE EMERGE Platform'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, our Company has received an in-principle approval letter dated March 22, 2018 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 NSE. The Trading is proposed to be commenced from Wednesday, April 25, 2018, 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 APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The issue has received 5963 applications for 1,49,98,000 equity shares resulting in 8.66 times subscription (including reserved portion of Market maker).
The details of applications received in the issue (before technical rejections) are as follows:

Category No. of
Applications
% Number of
Equity Shares
% Subscription
(Times)
Market Maker 1 0.02 88,000 0.59 1.00
Retail Individual Investors 5748 96.39 1,14,96,000 76.65 13.99
Other than retail individual Investors 214 3.59 34,14,000 22.76 4.15
Total 5963 100.00 1,49,98,000 100.00 8.66

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

Category No. of
Applications
No. of
Equity Shares
Market Maker Nil Nil
Retail Individual Investors 45 90,000
Other than retail individual Investors 2 8,000
Total 47 98,000

After eliminating technically rejected applications, the following table gives us category wise net valid applications:

Category No. of
Applications
% Number of
Equity Shares
% Subscription
(Times)
Market Maker 1 88,000 88,000 0.59 1
Retail Individual Investors 5703 8,22,000 1,14,06,000 76.55 13.88
Other than retail individual Investors 212 8,22,000 34,06,000 22.86 4.14
Total 5916 17,32,000 1,49,00,000 100.00 8.60

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on April 20, 2018.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 60 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 88,000 Equity Shares.

No. of
Shares
Applied for
(Category
wise)
No. Of
Applications
received
% to
Total
Total No.
of Equity
Shares
applied
in this Category
% to
Total
Proportinate
Shares
Available
Allocation
per
Applicant
(Before
Rounding Off)
Allocation
per
Applicant
(After
Rounding Off)
Ratio of
Allottees
to AppliCant:
Ratio 1
Ratio of
Allottees
to AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
88,000 1 100.00 88,000 100.00 88,000 88,000 88,000 1 1 1 88,000 0

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 finalised in consultation with NSE. The category was subscribed by 13.88 times. The total number of shares allotted in this category is 12,66,000 Equity Shares to 633 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
Proportinate
Shares
Available
Allocation
per
Applicant
(Before
Rounding Off)
Allocation
per
Applicant
(After
Rounding Off)
Ratio of
Allottees
to AppliCant:
Ratio 1
Ratio of
Allottees
to AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
2,000 5,703 100.00 1,14,06,000 100.00 12,66,000 221.99 2,000 211 1,901 633 12,66,000 0

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of  60 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 4.14 times. The total number of shares allotted in this category is 3,78,000 Equity Shares to 106 successful applicants.

No. of
Shares
Applied for
(Category
wise)
No. Of
Applications
received
% to Total Total No.
of Equity Shares
applied In this
Category
% to Total Proportinate
Shares
Available
Allocation
per
Applicant
(Before
Rounding
Off)
Allocation
per Applicant
(After Rounding
Off)
Ratio of
Allottees to AppliCant:
Ratio 1
Ratio of
Allottees to AppliCant:
Ratio 2
Number of
Successful
applicants
(after rounding off)
Total No.
of Equity
Shares allocated/
allotted
No. of
Shares
Surplus/ Deficit
4,000 102 48.11 4,08,000 11.98 45,280 443.92 2,000 23 102 23 46,000 -720
6,000 20 9.43 1,20,000 3.52 13,316 665.88 2,000 7 20 7 14,000 -682
8,000 11 5.19 88,000 2.58 9,766 887.84 2,000 5 11 5 10,000 -234
10,000 10 4.72 1,00,000 2.94 11,098 1,109.81 2,000 5 10 5 10,000 1,098
12,000 3 1.42 36,000 1.06 3,995 1,331.77 2,000 2 3 2 4,000 -5
14,000 5 2.36 70,000 2.06 7,769 1,553.73 2,000 4 5 4 8,000 -231
16,000 9 4.25 1,44,000 4.23 15,981 1,775.69 2,000 8 9 8 16,000 -19
18,000 4 1.89 72,000 2.11 7,991 1,997.65 2,000 1 1 4 8,000 -9
20,000 7 3.30 1,40,000 4.11 15,537 2,219.61 2,000 1 1 7 14,000 1,537
2,000 1 7 0 2,000 -2,000
22,000 3 1.42 66,000 1.94 7,325 2,441.57 2,000 1 1 3 6,000 1,325
2,000 1 3 0 2,000 -2,000
24,000 5 2.36 1,20,000 3.52 13,318 2,663.53 2,000 1 1 5 10,000 3,318
2,000 2 5 0 4,000 -4,000
26,000 1 0.47 26,000 0.76 2,885 2,885.50 2,000 1 1 1 2,000 885
30,000 2 0.94 60,000 1.76 6,659 3,329.42 2,000 1 1 2 4,000 2,659
2,000 1 2 0 2,000 -2,000
32,000 4 1.89 1,28,000 3.76 14,206 3,551.38 2,000 1 1 4 8,000 6,206
32,000 2,000 3 4 0 6,000 -6,000
34,000 1 0.47 34,000 1.00 3,773 3,773.34 4,000 1 1 1 4,000 -227
36,000 1 0.47 36,000 1.06 3,995 3,995.30 4,000 1 1 1 4,000 -5
38,000 1 0.47 38,000 1.12 4,217 4,217.26 4,000 1 1 1 4,000 217
40,000 2 0.94 80,000 2.35 8,878 4,439.22 4,000 1 1 2 8,000 878
42,000 1 0.47 42,000 1.23 4,661 4,661.19 4,000 1 1 1 4,000 661
50,000 5 2.36 2,50,000 7.34 27,745 5,549.03 4000 1 1 5 20,000 7,745
50,000 2,000 4 5 0 8,000 -8,000
60,000 4 1.89 2,40,000 7.05 26,635 6,658.84 6,000 1 1 4 24,000 2,635
60,000 2,000 1 4 0 2,000 -2,000
66,000 1 0.47 66,000 1.94 7,325 7,324.72 8,000 1 1 1 8,000 -675
72,000 2 0.94 1,44,000 7.23 15,981 7,990.60 8,000 1 1 2 16,000 -19
74,000 1 0.47 74,000 2.17 8,213 8,212.57 8,000 1 1 1 8,000 213
82,000 1 0.47 82,000 2.41 9,100 9,100.41 10,000 1 1 1 10,000 -900
1,00,000 4 1.89 4,00,000 11.74 44,392 11,098.06 10,000 1 1 4 40,000 4,392
1,00,000 2,000 2 4 0 4,000 -4,000
1,66,000 1 0.47 1,66,000 4.87 18,423 18,422.78 18,000 1 1 1 18,000 423
1,76,000 1 0.47 1,76,000 5.17 19,533 19,532.59 20,000 1 1 1 20,000 -467
Total 212 100 34,06,000 100.00 3,78,000 106 3,78,000 0

The Board of Directors of the Company at its meeting held on Saturday, April 21, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited (NSE) and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The Refund/allotment intimation are being dispatched to the address of the Applicants as registered with the depositories on or before April 23, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to April 23, 2018. In case the same is not received within ten days, investors may contact Registrar 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 NSE EMERGE Platform within six working days from the date of the closure of the Issue.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, SKYLINE FINANCIAL SERVICES PRIVATE LIMITED at www.skylinerta. 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:

SKYLINE FINANCIAL PRIVATE LIMITED
4A9, Gundecha Onclave, Kherani Road, Sakinaka, Mumbai - 400072,
Tel. No.: +91-22-28511022/62215779
website: www.skylinerta.com, Email: virenr@skylinerta.com

Place: Ahmedabad
Date: April 24, 2018
Bombay Super Hybrid Seeds Limited
For & on behalf of Board
Sd/-
Mr. Arvindkumar J. Kakadia
Managing Director

Bombay Super Hybrid Seeds IPO Basis of Allotment FAQs

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

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

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