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Bonlon Industries IPO Details

Issue Open Jun 30, 2020
Issue Close Jul 3, 2020
IPO Price ₹28
Face Value ₹10
IPO Size ₹10.52 Cr
Listing At BSE SME
IPO Lot Size 4000

Our Company was incorporated on January 21, 1997 as a private limited company under the provisions of Companies Act, 1956 with the Registrar of Companies, Jaipur in the name and style of Bonlon Steels Private Limited. Subsequently, the registered office of our Company was shifted from Jaipur to New Delhi i.e. from one state to another w.e.f. December 01, 1998 with due approval of the Company Law Board, Northern Region Bench vide order dated October 29, 1998. Later on, the name of our Company was changed from Bon Lon Steels Private Limited to Bonlon Industries Private Limited w.e.f. February 26, 2019. Further, the name of the company was again changed to Bonlon Industries Limited pursuant to its conversion into a public company vide shareholder's approval dated March 01, 2019 and fresh certificate of incorporation dated March 29, 2019 issued by Registrar of Companies, Delhi. The Corporate Identification Number of our Company is U27108DL1998PLC097397. For further details please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 137 of the Prospectus.

Registered Office: 7A/39 (12-First Floor), WEA Channa Market, Karol Bagh, New Delhi-110005
Tel No: 011-47532792; Fax: 011 47532798; E-mail: info@bonlonindustries.com; Website: www.bonlonindustries.com
Contact Person: Mr. Raj Jain, Managing Director
PROMOTER OF THE COMPANY: MR. ARUN KUMAR JAIN
BASIS OF ALLOTMENT

PUBLIC ISSUE OF 37,56,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID UP OF BONLON INDUSTRIES LIMITED ('BONLON' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF Rs. 28/- PER EQUITY SHARE (THE 'ISSUE PRICE') (INCLUDING A SHARE PREMIUM OF Rs. 18/- PER EQUITY SHARE AGGREGATING Rs. 1051.68 LAKHS (THE 'ISSUE') BY OUR COMPANY, OF WHICH 1,88,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/-EACH FULLY PAID UP WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THEISSUE ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 35,68,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.48% AND 25.16% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THIS ISSUE IS BEING IN TERMS OF CHAPTER IX OF THE SEBI (ICDR) REGULATIONS, 2018 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO 'SECTION VII - ISSUE INFORMATION' BEGINNING ON PAGE 258 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- EACH. THE ISSUE PRICE IS Rs. 28/-.
THE ISSUE PRICE IS 2.80 TIMES THE FACE VALUE.
ISSUE PERIOD ISSUE OPENED ON: JUNE 30, 2020
ISSUE CLOSED ON: JULY 03,2020
PROPOSED LISTING: MONDAY, JULY 13, 2020

The Equity Shares offered through the Prospectus are proposed to be fisted on the SME Platform of the BSE Limited ('BSE'). In terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an in-principle approval letter dated January 20, 2020 from BSE for using its name in the offer document for listing of its shares on SME Platform of the BSE Limited.

For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced with effect from Monday, July 13, 2020.*

*Subject to receipt of listing and trading approvals from the BSE Limited.

All Applicants participated in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process including through UPI mode (as applicable) 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 152 applications for 4852000 Equity Shares resulting in 1.29 times subscription (including reserved portion of Market Maker) before technical rejections but after bid not banked. After considering technical rejections cases, the Issues was subscribed 1.28 times i.e 145 applications for 4808000 Equity shares. 1 application for 4000 Equity shares were bided without banking.

Summary of Valid Applications received:

Sr. No. Category Gross Less: Rejections Valid
No. of Applications Equity Shares No. of Applications Equity Shares No. of Applications Equity Shares
1 Reserved for Market Maker 1 188000 - - 1 188000
2 Retail Individual Investors 93 372000 6 24000 87 348000
3 Other than Retail Individual Investors* 58 4292000 1 20000 57 4272000
Total 152 4852000 7 44000 145 4808000

*Spill over of 1436000 equity shares from eligible Retail Investors Category to other than Retail Individual Investors category

As per Regulation 253, sub regulation (2) of SEBI (ICDR) Regulations, 2018, the allocation in the net issue to public category shall be made as follows:

a) Minimum fifty percent to retail individual investors; and
b) remaining to:
i. individual applicants other than retail individual investors; and
ii. other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for;
c) The un-subscribed portion in either of the categories specified in clauses (a) or (b) may be allocated to applicants in the other category.

For the purpose of Regulation 253(2), if the retail individual investor category is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on July 08, 2020.

A. Allocation to Market Maker (After Technical Rejections): The Baas of Allotment to the Market Maker, at the issue price of Rs. 28/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 188000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 28/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.195 times. The total number of shares allotted in this category is 848000 Equity Shares to 87 successful applicants.

The Category-wise details of the Basis of Allotment are as under:

No. of Shares Applied (or (Category wise) No. of Applied' lions received %to total Total No. of shares applied in each category %to total Proportionate 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
4000 87 100.00 348000 100.00 1784000 4000 4000 1 1 87 348000 1436000
Total 87 100.00 348000 100.00 1784000 87 348000 1436000

C. Allocation to Other than Retail Individual Investors (Alter Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs. 28/- per Equity Share was finalized in consultation with BSE. The category was subscribed 1.326 times. The total number of shares allotted in this category is 3220000 Equity Shares to 57 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 Proportionate 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
8000 7 12.28 56000 1.31 42210 6030 4000 1 1 7 28000 -14210
0.00 4000 4 7 16000 16000
12000 4 7.02 48000 1.12 36180 9045 8000 1 1 4 32000 -4180
0.00 4000 1 4 40001 4000
16000 4 7.02 64000 1.50 48240 12060 12000 1 1 4 48000 -240
20000 1 1.75 20000 0.47 15075 15075 16000 1 1 1 16000 925
24000 1 1.75 24000 0.56 18090 18090 16000 1 1 1 16000 -2090
32000 2 3.51 64000 1.50 48240 24120 24000 1 1 2 48000 -240
40000 1 1.75 40000 0.94 30150 30150 32000 1 1 1 32000 1850
80000 11 19.30 880000 20.60 663296 60299.34 60000 1 1 11 660000 -3296
0.00 4000 1 11 4000] 4000
88000 13 22.81 1144000 26.78 862285 66329.62 64000 1 1 13 832000 -30285
0.00 4000 8 13 32000 3200
120000 4 7.02 480000 11.24 361798 90449.5 88000 1 1 4 352000 -9798
0.00 4000 1 2 8000 8000
144000 5 8.77 720000 16.85 542697 108539 4 108000 1 1 5 540000 -2697
0.00 4000 1 5 40001 4000
160000 3 5.26 460000 11.24 361798 120599.33 120000 1 1 3 360000 -1798
252000 1 1.75 252000 5.00 189944 189944 188000 1 1 1 188000 -1941
Total 57 100.00 4272000 100.00 3220000 57 3220000 0

The Board of Directors of the Company at its meeting held on July 08, 2020 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The CAN and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories on or before July 10, 2020. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to July 09, 2020. In case the same is not received within prescribed time, 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 stops to get the Equity Shares admitted for trading on SME Platform of BSE Limited 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 meaning assigned to them in the Prospectus dated June 24, 2020 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, BIGSHARE SERVICES PRIVATE LIMITED at 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 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:

wpeA.jpg (1515 bytes) BIGSHARE SERVICES PRIVATE LIMITED
Bharat Tin Works Building, 1st Floor, Opp. Vasant Oasis,
Makwana Road, Marol, Andneri (East), Mumbai - 400059, Maharashtra
Tel: (022) 22 62638200; Fax: (022) 62638299
E-mail: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Mr. Arvind Tandel
SEBI Registration No.: INR000001385

 

For BONLON INDUSTRIES LIMITED
On behalf of the Board of Directors
Place: Delhi Sd/-
Date: July 09, 2020 Managing Director

Bonlon Industries IPO Basis of Allotment FAQs

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

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

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