Dev Information Technology IPO Details

Issue Open Mar 31, 2017
Issue Close Apr 6, 2017
IPO Price ₹42
Face Value ₹10
IPO Size ₹6.25 Cr
Listing At NSE SME
IPO Lot Size 3000

DEV INFORMATION TECHNOLOGY LIMITED

CIN No.: U30000GJ1997PLC033479

Our Company was originally incorporated on December 23,1997 as "Dev Information Technology Private Limited' vide Registration no. 033479 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Further, pursuant to Special Resolution passed by die shareholders, at the Extra Ordinary General Meeting held on February 06, 2017 our company was converted into a Public Limited Company and consequently name of Company was changed to Dev Information Technology Limited. A fresh Certificate of incorporation pursuant to the change of name was issued by the Registrar of Companies, Ahmedabad on February 17,2017. For further details please refer to chapter titled "History and Certain Corporate Matters" beginning on page 127 of the Prospectus.

Registered Office: 14, Aaryans Corporate Park, Nr. Shilaj Railway Crossing, Thaltej, Ahmedabad, Gujarat-380059, India. | Tel No.: +91-79-26304241/ 26305751 Email: cs@devitpl.com | Website: www.devitpl.com | Contact Person: Ms. Krisa Rupalkumar Patel (Company Secretary & Compliance officer)

PROMOTERS OF OUR COMPANY: MR. JAIMIN JAGDISHBHAI SHAH, MR. PRANAV NIRANJANBHAI PANDYA,
MRS. AMISHA JAYMINBHAI SHAH, MRS. KRUTI PRANAV PANDYA, JAIMIN JAGDISHBHAI SHAH (HUF) AND PRANAV NIRANJAN PANDYA (HUF)

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE 0F 14,88,000 EQUITY  SHARES OF FACE VALUE OF RS 10.00 EACH OF DEV INFORMATION TECHNOLOGY LIMITED ("OUR COMPANY") FOR CASH AT A PRICE OF RS 42.00PER EQUITY SHARE (INCLUDING A SHARE PREMIUM 0F RS 32.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS 624.96 LAKHS ("THE ISSUE") OF WHICH   96,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 42.00 PER EQUITY SHARE, AGGREGATING TO RS 40.32 LAKHS WILL BE RESERVED FOR SUBSRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION") THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E ISSUE OF 13,,92,000 EQUITY SHARES OF FACE VALUE 0F RS 10 00 EACH AT AN ISSUE PRICE 0F RS 42 PER EQUITY SHARE AGGREGATING TO RS 584.64 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE") THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.95% and 25.22%, 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 290 OF THE PROSPECTUS.
THIS ISSUE IS BEING MADE IN ACCORDANCE WIYH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, (THE"SEBI ICDR REGULATIONS"). AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "ISSUE PROCEDURE" BEGINNING ON PAGE 297 OF THE PROSPECTUS
.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE IS RS 42.00. THE ISSUE PRICE IS 4.2 TIMES OF THE FACE VALUE ISSUE OPENED ON FRIDAY, MARCH 31, 2017 AND CLOSED ON THURSDAY, APRIL 06, 2017.
PROPOSED LISTING: APRIL 17, 2017

The Equity Shares offered through Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE") ("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 March 21, 2017 from NSE for using its name in offer document for listing of our shares on the SME Platform of NSE ("NSE EMERGE ). 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 April 17,2017.*

*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 20,598 applications for 107,223,000 Equity Shares resulting in 72.06 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 0.00 96000 0.09 1.00
Retail Individual Investors 20,210 98.12 60,630,000 56.55 87.11
Other than Retail Individual Investors 387 1.88 46,497,000 43.36 66.81
TOTAL 20,598 100.00 107,223,000 100.00

The details of application rejected by the Registrar on technical grounds (including withdrawal) are detailed below:

Category No. of Applications No. of Equity Shares
Market Maker Nil Nil
Retail Individual Investors 319 957,000
Other than Retail Individual Investors 5 261,000
Total 324 1,218,000

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Category No. of Applicstions % Reserved Portion (as per Prospectus) No. of Valid Shares applied

% of Total Applied

Subscription (Times)
Market Maker 1 100 96,000 96,000 100 1.00
Total 1 100 96,000 96,000 100 1.00

 

Category No. of Applications % Reserved Portion (as per Prospectus) Proportionate Issue Size  (After roundina off) No. of Valid Shares applied % of Total Applied Subscription (Times)
Retail Individual Investors 19,891 98.11 696,000 783,000 59,673,000 56.34 76.21
Other than Retail Individual Investors 382 1.88 696,000 609,000 46,236,000 43.66 75.92

Total

20,274 100 13,92,000 13,92,000 105,909,000 100

Allocation: The Basis of Allotment was finalized in consultation with the Designated stock Exchange - National stock Exchange of India Limited on Apnl 11,2017. A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 42 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 96,000 Equity shares.
The cateoorv wise details of the Basis of Allotment are as under:

No. of
Shares
Applied for
(Category
wise)
No. of
Appli
cations
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
Surplus/
Deficit
96,000 1 100.00 96,000 100.00 96,000 96,000 96,000 1 1 1 96,000 -
TOTAL 1 100.00 96,000 100.00 96,000 96,000 96,000 1 1 1 96,000 -

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 42 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 76.21 times i.e. for 59,673,000 Equity Shares. Total number of shares allotted in this category is 783,000 Equity Shares to 261 successful applicants.

The category wise details of the Basis of Allotment are as under;

No. of Shares Applied for (Category wise) No. of Appli cations 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 roundina off)
Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
3,000 19,891 100.00 59,673,000 100.00 783,000 39.36 3000 2 153 261 783,000 -
TOTAL 19,891 100.00 59,673,000 100.00 783,000 261 783,000

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 42 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 75.92 times i.e. for 46,236,000 shares the total number of shares allotted in this category is 609,000 Equity Shares to 94 successful applicants.

The category wise details of the Basis of Allotment are as under:

No. of Shares Applied for (Category wise) No. of Appli cations 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 roundina off)
Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
6000 137 35.86 822000 1.78 10827 79.03 3000.00 3 137 3 9000 -1827
9000 38 9.95 342000 0.74 4505 118.55 3000.00 1 38 1 3000 -1505
12000 32 8.38 384000 0.83 5058 158.06 3000.00 1 32 1 3000 -2058
15000 17 4.45 255000 0.55 3359 197.59 3000.00 1 17 1 3000 -359
18000 3 0.79 54000 0.12 711 237.00 3000.00 1 3 1 3000 2289
21000 4 1.05 84000 0.18 1106 276.50 3000.00 1 4 1 3000 1894
24000 24 6.28 576000 1.25 7587 316.13 3000.00 1 12 2 6000 -1587
27000 3 0.79 81000 0.18 1067 355.67 3000.00 1 3 1 3000 1933
30000 8 2.09 240000 0.52 3161 395.13 3000.00 1 8 1 3000 -161
33000 2 0.52 66000 0.14 869 434.50 3000.00 1 2 1 3000 2131
36000 6 1.57 216000 0.47 2845 474.17 3000.00 1 6 1 3000 155
39000 1 0.26 39000 0.08 514 514.00 3000.00 1 1 1 3000 2486
42000 2 0.52 84000 0.18 1106 553.00 3000.00 1 2 1 3000 1894
45000 2 0.52 90000 0.19 1185 592.50 3000.00 1 2 1 3000 1815
48000 3 0.79 144000 0.31 1897 632.33 3000.00 1 3 1 3000 1103
51000 4 1.05 204000 0.44 2687 671.75 3000.00 1 4 1 3000 313
54000 2 0.52 108000 0.23 1423 711.50 3000.00 1 2 1 3000 1577
60000 7 1.83 420000 0.91 5532 790.29 3000.00 1 7 1 3000 -2532
63000 2 0.52 126000 0.27 1660 830.00 3000.00 1 2 1 3000 1340
69000 2 0.52 138000 0.30 1818 909.00 3000.00 1 2 1 3000 1182
78000 1 0.26 78000 0.17 1027 1027.00 3000.00 1 1 1 3000 1973
84000 2 0.52 168000 0.36 2213 1106.50 3000.00 1 2 1 3000 787
90000 1 0.26 90000 0.19 1185 1185.00 3000.00 1 1 1 3000 1815
96000 1 0.26 96000 0.21 1264 1264.00 3000.00 1 1 1 3000 1736
102000 1 0.26 102000 0.22 1343 1343.00 3000.00 1 1 1 3000 1657
117000 4 1.05 468000 1.01 6164 1541.00 3000.00 1 2 2 6000 -164
120000 10 2.62 1200000 2.60 15806 1580.60 3000.00 1 2 5 15000 -806
123000 1 0.26 123000 0.27 1620 1620.00 3000.00 1 1 1 3000 1380
126000 1 0.26 126000 0.27 1660 1660.00 3000.00 1 1 1 3000 1340
129000 1 0.26 129000 0.28 1699 1699.00 3000.00 1 1 1 3000 1301
135000 1 0.26 135000 0.29 1778 1778.00 3000.00 1 1 1 3000 1222
159000 2 0.52 318000 0.69 4189 2094.50 3000.00 1 2 1 3000 -1189
162000 1 0.26 162000 0.35 2134 2134.00 3000.00 1 1 1 3000 866
168000 1 0.26 168000 0.36 2213 2213.00 3000.00 1 1 1 3000 787
174000 1 0.26 174000 0.38 2292 2292.00 3000.00 1 1 1 3000 708
177000 2 0.52 354000 0.77 4663 2331.50 3000.00 1 2 1 3000 -1663
180000 2 0.52 360000 0.78 4742 2371.00 3000.00 1 2 1 3000 -1742
195000 2 0.52 390000 0.84 5137 2568.50 3000.00 1 2 1 3000 -2137
198000 1 0.26 198000 0.43 2608 2608.00 3000.00 1 1 1 3000 392
219000 1 0.26 219000 0.47 2885 2885.00 3000.00 1 1 1 3000 115
234000 1 0.26 234000 0.51 3082 3082.00 3000.00 1 1 1 3000 -82
237000 3 0.79 711000 1.54 9365 3121.67 3000.00 1 1 3 9000 -365
240000 6 1.57 1440000 3.11 18967 3161.17 3000.00 1 1 6 18000 -967
282000 1 0.26 282000 0.61 3714 3714.00 3000.00 1 1 1 3000 -714
291000 1 0.26 291000 0.63 3833 3833.00 3000.00 1 1 1 3000 -833
297000 1 0.26 297000 0.64 3912 3912.00 3000.00 1 1 1 3000 -912
333000 2 0.52 666000 1.44 8772 4386.00 3000.00 1 1 2 6000 -2772
357000 4 1.05 1428000 3.09 18809 4702.25 6000.00 1 1 4 24000 5191
360000 1 0.26 360000 0.78 4742 4742.00 6000.00 1 1 1 6000 1258
450000 1 0.26 450000 0.97 5927 5927.00 6000.00 1 1 1 6000 73
471000 1 0.26 471000 1.02 6204 6204.00 6000.00 1 1 1 6000 -204
492000 1 0.26 492000 1.06 6480 6480.00 6000.00 1 1 1 6000 -480
552000 1 0.26 552000 1.19 7271 7271.00 6000.00 1 1 1 6000 -1271
648000 1 0.26 648000 1.40 8535 8535.00 9000.00 1 1 1 9000 465
951000 1 0.26 951000 2.06 12526 12526.00 12000.00 1 1 1 12000 -526
984000 1 0.26 984000 2.13 12961 12961.00 12000.00 1 1 1 12000 -961
1392000 19 4.97 26448000 57.21 348361 18334.79 15000.00 1 1 19 285000 -63361
48000 48000
TOTAL 382 100.00 46,236,000 100.00 609,000 94 609,000 0

The Board of Directors of the Company at its meeting held on April 12,2017 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 corporate action for the transfer of the Equity Shares to various successful applicants. The Allotment Advice-cum-Refund orders 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 Apnl 13,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to April 12,2017 In case the same is not received within 10 days, investors may contact 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 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 March 24,2017 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrars the issue, Link Intime India Private Limited at www.linkintime.co.in. 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:

LINK INTIME INDIA PRIVATE LIMITED
C-101,247 Park, LBS Marg, Vikhroli (West), Mumbai 400 083, Maharashtra, India
Tel: +91-22-49186000; Fax: +91-22 - 49186060; Website: www.linkintime.co.in;
Email: ditl.ipo@linkintime.co.in; Investor Grievance Email: ditl.ipo@linkintime.co.in;
Contact Person: Ms. Shanti Gopalkrishnan; SEBI Registration No.: INR000004058

Place : Ahmedabad

Date: 12.04.2017

For DEV INFORMATION TECHNOLOGY LIMITED
On behalf of the Board of Directors
Sd/-
Mr. Jaimin Jagdishbhai Shah
Managing Director

Dev Information Technology IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Dev Information Technology IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Dev Information Technology 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 Dev Information Technology IPO basis of allotment status?

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

    Visit the Dev Information Technology IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Dev Information Technology IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Dev Information Technology 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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