Chemtech Industrial Valves IPO Details

Issue Open Jan 15, 2014
Issue Close Jan 17, 2014
IPO Price ₹15
Face Value ₹10
IPO Size ₹7.43 Cr
Listing At BSE SME
IPO Lot Size 8000

CHEMTECH INDUSTRIAL VALVES LIMITED

Our Company was incorporated as 'Chemtech Industrial Valves Private Limited" under the provisions ot the Companies Act. 1956 vide Certificate of Incorporation dated January 15, 1997 bearing Registration No. 105108, in Mumbai. Subsequently, our Company was converted into a public limited company vide fresh Certificate of Incorporation dated April 22, 2013 and consequently the name of our Company was changed to "Chemtech Industrial Valves Limited". The Corporate Identification Number of our Company is U29299MH1997PLC105108. For further details please rafer to chapter titled 'History and Certain Other Corporate Matters" beginning on page 112 of tha Prospectus.

Registered Office: 105, Hiranaandani Industrial Estate, Opp, Kanjurmarg Railway Stn., Mumbai - 400078, India.
Tel.: 91 222577 3308; Fax No.: +91 22 2579 4128; E-mail: investors chemtechvalves com; Website: www.chemtechvalves.com Contact Person: Mr. Mohammad A Slatewala Company Secretary and Compliance Officer
Whole-time Director: Mr. Ignatious David Chittatukarakaran Inasu

PROMOTERS OF OUR COMPANY: MR. PRADEEP SHIKHARCHAND BADKUR, MR. HARSH PRADEEP BADKUR AND MRS.NAMRATA PRADEEP BADKUR

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 49,52,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FULLY PAID OF CHEMTECH INDUSTRIAL VALVES LIMITED ("CIVL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 15/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 5/- PEH EQUITY SHARE) AGGREGATING RS 742.80 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 2,80,000 EQUlTV SHARES OF FACE VALUE OF RS 10/- EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I. E. ISSUE OF 46,72,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE", THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 43.17% AND 40.73%.   RESPECTIVELY OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.

In terms of Prospectus dated 6th January, 2014 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies /institutions irrespective of no, of shares applied for. The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.

Explanation: for tha purpose of Regulation 43 (4} of SEBI (lCDR) Regulations. 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage,

THE FACE VALUE OF EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 15/-.
THE ISSUE PRICE IS 1.50 TIMES OF THE FACE VALUE.

The Equity Shares offered through the Prospectus are proposed to be listed on tha SME platform of BSE Limited ('BSE') in terms of the chapter XB of thw SEBI (ICDR) Regulations, 2009 as amended from time to time. Company is not required to obtain an in-principle approval of the shares being offered in this Issue from BSE. However, it has received an approval letter dated 11th October, 2013 from BSE for using its name in the offer document for listing of our Shanes on Hie SME platform of BSE. The designated stock exchange is BSE Limited.

All Applicant 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 reveived 248 applications for 58,32,000 Equity Shares (Including Market Maker Application of 2,80,000 Equity Shares) resulting 1.18 times subscription. After considering, cheque retum cases of 20 applications of 1,60,000 Equity Stares, the issue was subscribed 1.15 times. The details of the applications received in the issue (before technical rejections) are as follows;

Detail of the Applications Received (Before Technical Rejection & withdrawal of application):

CATEGORY NUMBER OF
APPUCATIOHS
NUMBER Of
EQUITY SHARES
SUBSCRIPTION
Marked Maker 1 280.000 100.00%
Other than Retail Individual Investors 88 4,280000 183.21%
Reteil Individual Investors 139 1,112,000 47.60%
TOTAL 228 5,672,000

The detail of Application rejected by the Registrar on techinical grounds (includings withdrawls) are details below:

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Market Makers - -
Other than Retail Individual Investors 6 280,00
Retail Individual Investors 4 32,000
TOTAL 10 312,000

Detail of the Applications Received (After Technical Rejection & withdrawal):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Marcet Makers 1 280,000 100.00%
Other than Retail Individual Invasions 82 4,000,000 171.23%
Retail Individual Investors 135 1,080,000 46.23%
TOTAL 218 5,360,000

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 24th January, 2014.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs.15/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,80,000 Equity shares in full out of reserved portion of 2,80,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.15/- per Equity Share. was finalized in consultation with BSE. The category was subscribed by 0.46 times. Total number of shares allotted in this category is 1,08,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. of Applications % to total Total No. of Equity Shares applied % to total Proportionate
Shares
Available
Allocation per Applicant Ratio of
Allotteesto the Applicants
Total No. of Equity Shares allotted Surplus / (Deficit)
8,000 135 100 1,080,000 100 2,336,000 8,000 FIRM 1,080,000 -1,256,000

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs.15/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.71 times. Total number of shares allotted in this category is 36,08,000 Equity Shares, including additional 16,000 Equity Shares for the purpose of rounding off to the nearest multiple of 8,000 Equity Shares (Lot Size) and spill over of 12,56,000 Equity Shares from retail category. The category wise basis of allotments is as under:

No. of Shares Applied for (Category wise) No. Of
Applications
% to total Total No. of Equity Shares applied % of total Proportionate Shares Available Allocation per  Applicant (Before   Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to the Applicants Total No. of Equity Shares allotted Surplus  / Deficit)
16,000 19 23.17 304,000 7.60 272,992 41,368 16,000 FIRM 304,000 31,008
24,000 12 14.63 288,000 7.20 258,624 21,552 24,000 FIRM 288,000 29,376
32,000 9 10.98 288,000 7.20 258,824 28,736 32,000 FIRM 288,000 29,376
40,000 13 15.85 520,000 13.00 466,960 35,920 32,000 FIRM 416,000 -50.960
64,000 12 14.63 763,000 19.20 639,664 57,472 56,000 FIRM 672,000 -17,664
72,000 3 3.68 216,000 5.40 193,968 64,656 64,000 FIRM 192,000 -1,968
80,000 4 4.88 320,000 8.00 287,360 71,040 72,000 FIRM 288,000 640
88,000 1 1.22 88,000 2 20 79,024 79,024 80,000 FIRM 80,000 976
104,000 3 3.66 312,000 7.80 280,176 93,392 96,000 FIRM 288,000 7,824
120,000 1 1.22 120,000 3.00 107,760 107,760 104,000 FIRM 104,000 -3,760
136,000 2 2.44 272,000 6.80 244,256 122,123 120,000 FIRM 240,000 -4,256
144,000 1 1.22 144,000 3.60 129,312 129,312 128,000 FIRM 128,000 -1,312
160,000 1 1.22 160,000 4.00 143,680 143,880 144,000 FIRM 144,000 320
200,000 1 1.22 200,000 5.00 179,600 179,500 176,000 FIRM 176,000 -3,600

The Board of Directors of the Company at its meeting held on 25th January, 2014 has taken on record the Basis of Allocation of Equity shares approved by the Designated Stock Exchange viz. BSE Ltd and has authorized the corporate action for the transfer of the Equity Shares /dispatch of share certificates to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the despositories / as filled in the application form on or before 28th January, 2014. Further, the instructions to Self Certified Syndicato Banks being processed on or prior to 25th January, 2014. In case the same is not received within 10 days, investors may confact 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 admiited for trading on the SME Platform of BSE Limited within twelve working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before 31th January, 2014 subject to receipt of listing and trading approvals from BSE Limited.

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 Aplication 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:

BIGSHARE SERVICES PRIVATE LIMITED
E/2, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri {East), Mumbai 400 072
Tel.: +91-22-40430200; Fax: +91 -22-28475207;
Email: ipo@bigshareonline.com; Website: www.bigshareonline.com,
Contact Person; Mr. Ashok Shetty
SEBI Registration No.: INR000001385

Place ; Mumbai
Date ; January 28, 2014

For Chemtech Industrial valves Limited
sd/-:
Managing Director

Chemtech Industrial Valves IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Chemtech Industrial Valves IPO?

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

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

    Visit the Chemtech Industrial Valves IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Chemtech Industrial Valves IPO allotment process?

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