Dhruv Consultancy IPO Details

Issue Open Apr 27, 2018
Issue Close May 2, 2018
IPO Price ₹54
Face Value ₹10
IPO Size ₹23.19 Cr
Listing At BSE SME
IPO Lot Size 2000

DHRUV CONSULTANCY SERVICES LIMITED
Corporate Identity Number: U74999MH2003PLC141887

Our Company was originally incorporated as Dhruv Consultancy Services Private Limited on August 26, 2003 with the Assistant Registrar of Companies, Maharashtra, Mumbai, under the provisions of Companies Act, 1956. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at the extraordinary general meeting held on January 10, 2018 and the name of our Company was changed to 'Dhruv Consultancy Services Limited'. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the Registrar of Companies, Mumbai on February 07, 2018. For further details of our Company, please refer 'General Information' and 'History and Certain Other Corporate Matters' on page numbers 42 and 97, respectively, of the Prospectus.

Registered Office: 501, Pujit Plaza, Palm Beach Road, Sector -11, Opp. K-Star Hotel, Near CBD Station, CBD Belapur, Navi Mumbai-400614, Maharashtra
Tele Fax: + 91 22 27570710 | E-mail: cs@dhruvconsultancy.in | Website: www.dhruvconsultancy.in
Contact Person: Isha S. Kulkarni, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: MR. PANDURANG B. DANDAWATE AND JAYASHREE R DANDAWATE

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 42,96,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE 'EQUITY SHARES') OF DHRUV CONSULTANCY SERVICES LIMITED ('OUR COMPANY' OR 'DCSL' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 54.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 44.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 2319.84 LAKHS ('THE ISSUE') OF WHICH 2,24,000 EQUITY SHARES AGGREGATING TO RS 120.96 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 40,72,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 54.00 PER EQUITY SHARE AGGREGATING TO RS 2198.88 LAKHS IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.05% AND 28.48%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER 'TERMS OF THE ISSUE' ON PAGE 174 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 '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. HIS 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, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER 'ISSUE PROCEDURE' ON PAGE 182 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND
THE ISSUE PRICE OF RS 54.00 IS 5.4 TIMES OF THE FACE VALUE.

ISSUE OPENED ON TUESDAY, FRIDAY, APRIL 27, 2018 AND CLOSED ON WEDNESDAY, MAY 02, 2018
PROPOSED LISTING: MAY 10, 2018*

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of BSE Limited in terms of the Chapter XB of the SEBI (ICDR) Regulations, as amended from time to time. Our Company has received an approval letter dated March 14, 2018 from BSE Limited ('BSE') 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, the Designated Stock Exchange will be the BSE.

The trading is proposed to be commenced on or about May 10, 2018.*

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

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 2,895 applications for 1,09,20,000 Equity Shares resulting in 2.5419 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical & multiple rejections) are as follows:

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

Category Number Of
Applications
% Number Of
Equity Shares
% Subscription
(Times)
Market Maker 1 0.03 2,24,000 2.05 1
Retail Individual Investors 2694 93.06 53,88,000 49.34 2.6464
Other than Retail Individual Investors 200 6.91 53,08,000 48.61 2.6071
TOTAL 2895 100 1,09,20,000 100 2.5419

The details of applications rejected by the Registrar on technical grounds (including bids not banked) are detailed below:

Category No. of
Applications
No. of
Equity Shares
Market Maker - -
Retail Individual Investors 245 4,90,000
Other than Retail Individual Investors 31 2,42,000
TOTAL 276 7,32,000

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

Category No. of
Applications
% Reserved Portion
(as per Prospectus)
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Market Maker 1 100 2,24,000 2,24,000 100 1.00
TOTAL 1 100 2,24,000 2,24,000 100 1.00

Category

No. of
Applications
% Reserved Portion
(as per Prospectus)
Proportionate Offer Size
(After rounding off)
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Retail Individual Investors 2457 93.53 20,36,000 20,36,000 49,14,000 49.22 2.41
Other than Retail Individual Investors 170 6.47 20,36,000 20,36,000 50,70,000 50.78 2.49
TOTAL 2627 100 40,72,000 40,72,000 9984000 100 2.45

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on May 07, 2018.

A. Allocation to Market Maker (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 54 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,24,000 Equity shares.

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
% of 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
applicant
(after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of Shares
Surplus/ Deficit
Market Maker 1 100 2,24,000 100 2,24,000 2,24,000 2,24,000 1 1 1 2,24,000 -
TOTAL 1 100 2,24,000 100 2,24,000 2,24,000 2,24,000 1 1 1 2,24,000 -

B. Allocation to Retail Individual Investors (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 54 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.4136 times i.e. for 49,14,000 Equity Shares. Total number of shares allotted in this category is 20,36,000 Equity Shares to 1,018 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
% of 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
applicant (after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of
Shares
Surplus/ Deficit
2000 2457 100 49,14,000 100 20,36,000 828.65 2,000 1018 2047 1018 2036000 -
TOTAL 2457 100 49,14,000 100 20,36,000 828.65 2,000 1018 2047 1018 2036000 -

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 54 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.4902 times i.e. for 50,70,000 shares. Total number of shares allotted in this category is 20,36,000 Equity Shares to 160 successful applicants.

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

No. of Shares
Applied for
(Category wise)
No. Of
Applications
received
% to Total Total No. of
Equity Shares
applied in this
Category
% of 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
applicant (after
rounding off)
Total No.
of Shares
allocated/
allotted
No. Of
Shares
Surplus/ Deficit
4000 50 29.41 200000 3.94 80316 1606.32 2000 4 5 40 80000 -316
10000 22 12.94 220000 4.34 88347 4015.77 4000 1 1 22 88000 -347
14000 9 5.29 126000 2.49 50599 5622.11 4000 1 1 9 36000 -14599
14000 2000 additional share is allocated for the above in
the ration of 7 is to 9.
7 9 14000 14000
26000 2 1.18 52000 1.03 20882 10441.00 10000 1 1 2 20000 -882
30000 2 1.18 60000 1.18 24095 12047.50 12000 1 1 2 24000 -95
40000 6 3.53 240000 4.73 96379 16063.17 16000 1 1 6 96000 -379
48000 1 0.59 48000 0.95 19276 19276.00 20000 1 1 1 20000 724
54000 1 0.59 54000 1.07 21685 21685.00 22000 1 1 1 22000 315
60000 2 1.18 60000 2.37 48189 24094.50 24000 1 1 2 48000 -189
70000 2 1.18 140000 2.76 56221 28110.50 28000 1 1 2 56000 -221
80000 2 1.18 160000 3.16 64252 32126.00 32000 1 1 2 64000 -252
154000 1 0.59 154000 3.04 61843 61843 62000 1 1 1 62000 157
326000 1 0.59 326000 6.43 130914 130914 132000 1 1 1 132000 1086
370000 1 0.59 370000 7.30 148584 148584 148000 1 1 1 148000 -584
500000 1 0.59 500000 9.86 200789 200789 200000 1 1 1 200000 -789
924000 1 0.59 924000 18.22 371058 371058 372000 1 1 1 372000 942

The Board of Directors of the Company at its meeting held on May 07, 2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before May 08, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or about May 07, 2018. 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 BSE Limited within six working days from the date of the closure of the Issue.

Note: Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated April 20, 2018 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, 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-101,1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai 400 083
Tel: +91-22 49186200 | Fax: +91-22 49186195
E-mail: dcsl.ipo@linktime.co.in | Investor Grievance Email: dcsl.ipo@linktime.co.in
Website: www.linkintime.co.in | Contact Person: Ms. Shanti Gopalakrishnan
SEBI Registration No.: INR000004058

Place: Mumbai
Date: May 07, 2018
For Dhruv Consultancy Services Limited
On behalf of the Board of Directors
Sd/-
Managing Director

Dhruv Consultancy IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Dhruv Consultancy IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Dhruv Consultancy 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 Dhruv Consultancy IPO basis of allotment status?

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

    Visit the Dhruv Consultancy IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Dhruv Consultancy IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Dhruv Consultancy 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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