Future Supply Chain IPO Details

Issue Open Dec 6, 2017
Issue Close Dec 8, 2017
IPO Price ₹664
Face Value ₹10
IPO Size ₹649.70 Cr
Listing At BSE, NSE
IPO Lot Size 22

FUTURE SUPPLY CHAIN SOLUTIONS LIMITED

Our Company was incorporated as Future Logistic Solutions Limited on March 8 2006 at Mumbai Maharashtra as a public Limited company under the Companies Act, 1956 and received a certificate of commencement of business dated March 31 2006, Subsequently the name of our Company was changed to Future Supply Chain Solutions Limited and a fresh certificate of incorporation consequent to the change of name was issued by the Registrar of Companies. Maharashtra at Mumbai ('RoC') dated October 23,2009. For details in relation to the change in the name and the registered office of our Company, please see the section entitled 'History and Certain Corporate Matters' on page 139 of the prospectus dated December 12,2017 (the 'Prospectus').

Registered Office; Knowledge House. Shyam Nagar Jogeshwari -Vikhroli Link Road. Jogeshwari (East) Mumbai 400 060: Tel: +91 22 6644 2200; Fax: +91 22 6644 2201 Corporate Office: 7th Floor. 349 Business Point. Western Express Highway. Andheri (East). Mumbai 400 069. Contact Person: Vimal K. Dhruve. Company Secretary and Compliance Officer E-mail:investorrelation@futuresupplychains.com; Website: www.futuresupplychains.com;
Corporate Identity Number: U63030MH2006PLC160376.

PROMOTER OF OUR COMPANY: FUTURE ENTERPRISES LIMITED

Our Company has filed the Prospectus with the RoC on December 12,2017 and the Equity Shares are proposed to be listed on BSE Limited ('BSE') and National Stock Exchange of India Limited ('NSE') and the trading will commence on December 18,2017.

BASIS OF ALLOTMENT

PUBUC OFFER OF 9,784,570 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF FUTURE SUPPLY CHAIN SOLUTIONS LIMITED ('OUR COMPANY') FOR CASH AT A PRICE OF RS 664 PER EQUITY SHARE AND THE ANCHOR INVESTOR OFFER PRICE OF RS 664 (INCLUDING A SHARE PREMIUM OF RS 654 PER EQUITY SHARE) AGGREGATING TO RS 6,496.95 MILLION (THE 'OFFER') THROUGH AN OFFER FOR SALE Of 7,827,656 EQUITY SHARES BY GRIFFIN PARTNERS LIMITED (THE 'INVESTOR SELLING SHAREHOLDER') AND 1.956,914 EQUITY SHARES BY THE PROMOTER OF OUR COMPANY, FUTURE ENTERPRISES LIMITED (THE 'PROMOTER SELLING SHAREHOLDER'. TOGETHER WITH THE INVESTOR SELLING SHAREHOLDER, THE 'SELLING SHAREHOLDERS'). THE OFFER WOULD CONSTITUTE 24.43% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

OFFER PRICE: RS 664 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
ANCHOR INVESTOR OFFER PRICE: RS 664 PER EQUITY SHARE
THE OFFER PRICE IS 66.4 TIMES THE FACE VALUE

Risks to Investors:

i. The six Lead Managers associated with the Offer have handled 39 public offers in the past three years, of which 11 Issues closed below the offer price on listing date.
ii. Average cost of acquisition of Equity Shares for the Investor Selling Shareholder and the Promoter Selling Shareholder in the Offer is Rs 323.02 and Rs 23.49, respectively, and the Offer Price at the upper end of the price band is Rs 664.
iii. The Price/Earnings ratio based on diluted EPS for Fiscal 2017 as per Restated Financial Statements for the Company at the upper end of the Price Band is 59.07 compared to the Nifty 50 price earnings ratio of 26.59 (as of November 24,2017).

BID/ OFFER PERIOD: OPENED ON: WEDNESDAY, DECEMBER 6, 2017
CLOSED ON: FRIDAY, DECEMBER 8, 2017
ANCHOR INVESTOR BID/OFFER PERIOD WAS: TUESDAY, DECEMBER 5, 2017

In terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules. 1957. as amended ('SCRR'). this was an Offer for such percentage of the Post -Offer paid-up Equity Share capital of our Company that was at least Rs 4,000 million calculated at the Offer Price The Offer was being made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. 2009, as amended (the 'SEBI ICDR Regulations') through the Book Building Process wherein not more than 50% of The Offer was allocated on a proportionate basis to Qualified Institutional Buyers ('QiBs') Our Company has. in consultation with the Selling Shareholders and the Lead Managers, allocated up to 60% of the QIB Portion to Anchor Investors on a discrebonary basis, out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was avaiable for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds. subject to valid Bids received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer was avaiable for allocation to Retail Indrvidual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount ('ASBA') process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks ('SCSBs') to participate in the Offer. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, please see the section entitled 'Offer Procedure'on page 358 of the Prospectus.

The Offer received 422,128 applications for 54,457,062 Equity Shares (prior to technical rejections) resulting in 5,5656 times subscription. The details of the applications received in the Offer from various categories are as under (before techncal (ejections).

Sr. No. Category No. of
applications
No. of Equity
Shares applied
Equity Shares
reserved
No. of times
subscribed
Amount
(Rs)
A. Retail Individual Bidders 421,717 10,739,696 3,424,600 3,1360 7,132,685,849.00
B. Non- Institutional Bidders 360 16,238,860 1,467,686 11,0643 10,782,604,800.00
C. Qualified Institutional Buyers 35 24,241,910 1,956,914 12,3878 16,096,628,240.00
D. Anchor Investors 16 3,236,596 2,935,370 1,1026 2,149,099,744.00
Total 422,128 54,457,062 9,784,570 5,5656 36,161,018,633.00

Final Demand
A summary of the final demand as per BSE and NSE on the Offer Closing Date at different Bid prices is as under;

Sr.No Bid price
(Rs)
No. of Equity
Shares applied
% To
total
Cumulative total % Cumulative
Total
1. 660 55,088 0.11 55,088 0.11
2. 661 7,766 0.01 62,854 0.12
3. 662 27,918 0.05 90,772 0.17
4. 663 9,702 0.02 100,474 0.19
5. 664 42,024,752 81.01 42,125,226 81.20
6. CUTOFF 9,753,612 18.80 51,878,838 100.00
Total 51,878,838 100

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange.being BSE on December 13.2017.

A. Allotment to Retail Individual Bidders (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have placed Bid at the Cut-Off Price or at the Offer Price of Rs 664 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 3.0894 Times. The total number of Equrty Shares Allotted in Retail Portion is 3,424,600 Equity Shares to 155.663 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:

Sr. No. Category No. of
applications
received
% of
total
Total no. of
Equity Shares
applied
% to
total
No. of Equity
Shares Allotted
per Bidder
Ratio Total no. of
Equity Shares
Allotted
1. 22 397,277 95.45 8,740,094 82.61 22 95:254 3,268,892
2. 44 8,745 2.10 384,780 3.64 22 49:131 71,962
3. 66 3,038 0.73 200,508 1.90 22 49:131 24,992
4. 88 1,370 0.33 120,560 1.14 22 49:131 11,264
5. 110 1,508 0.36 165,880 1.57 22 49:131 12,408
6. 132 567 0.14 74,844 0.71 22 49:131 4,664
7. 154 688 0.17 105,952 1.00 22 49:131 5,654
8. 176 190 0.05 33,440 0.32 22 49:131 1,562
9. 198 139 0.03 27,522 0.26 22 52:139 1,144
10. 220 520 0.12 114,400 1.08 22 49:131 4,268
11. 242 73 0.02 17,666 0.17 22 27:73 594
12. 264 143 0.03 37,752 0.36 22 53:143 1,166
13. 286 1,946 0.47 556,556 5.26 22 49:131 16,016

7,077 Allottess from Serial no 2 to13 allotted 1 (one)additional share in the ratio of 14:7077

1 14:7077 14
Total 416.204 J1M.M 10,579,954 100.00 3,424,600

B. Allotment to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have placed Bid at the Offer Price of Rs 664 per Equrty Share, was finalized in consultation with BSE. The Non-Institutional Portion has been subsenbed to the extent of 11.0074 times. The total number of Equity Shares Allotted in this category is 1.467.686 Equity Shares to 347 successful Non-Institutional Bidder. The category-wise details of the Basis of Allotment are as under (sample):

Category No. of
applications
received
% of
total
Total no. of
Equity Shares
applied
% to
total
No. of Equity
Shares Allotted
per Bidder
Ratio Total no. of
Equity Shares
Allotted
308 50 44.41 15,400 0.10 28 1:1 1,400
330 15 4.32 4,950 0.03 30 1:1 450
440 15 4.32 6,600 0.04 40 1:1 600
880 8 2.31 7,040 0.04 80 1:1 640
1,496 10 2.88 14,960 0.09 136 1:1 1,360
1,518 9 2.59 13,662 0.08 138 1:1 1,242
5,016 3 0.86 15,048 0.09 456 1:1 1,368
15,048 6 1.73 90,288 0.56 1,367 1:1 8,202
30,118 7 2.02 210,826 1.30 2,736 1:1 19,152
37,642 5 144 188,210 1.16 3,420 1:1 17,100
75,284 3 086 225,852 1.40 6,839 1:1 20,517
225,896 4 1.15 903,584 5.59 20,522 1:1 82,088
301,202 7 2.02 2,108,414 13.05 27,364 1:1 191,548
400,048 2 0.58 800,096 4.95 36,342 1:1 72,684
527,120 4 1.15 2,108,480 13.05 47,887 1:1 191,548
1,506,010 1 0.29 1,506,010 9.32 136,817 1:1 136,817

C. Allotment to QIBs (After Technical Rejections)
The Basis of Allotment to QIBs, who have placed Bid at the Offer Price of Rs 664 per Equity Share has been done on a proportionate basis in consultation with the BSE This category has been subscribed to the extern of 12 3878 times of the QIB Portion. As per the SEBI ICDR Regulations. Mutual Funds were Allotted 5% of the Equrty Shares of QIB Portion available i.e. 97.846 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e 1,859,068 Equity Shares on a proportionate basis The total number of Equity Shares Allotted in the QIB Portion is 1,956,914 Equity Shares, which were allotted to 35 successful QIB Bidders The category-wise details of the Basis of Allotment are as under:

Category FIs/Banks MFs ICs VCs AIF FPI Others Total
QIBs 168,141 792,049 24,331 - 218,584 753,809 - 1,956,914

D. Allotment to Anchor Investors
The Company and the Selling Shareholders, in consultation with the BRLMs have allocated 2,935,370 Equity Shares to 13 Anchor Investors (applied through 16 Applications) at the Anchor Investor Offer Price of Rs 664 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

Category FIs/Banks MFs ICs VCs AIF FPI Others Total
Anchor Investors - 1,685,992 - - 225,742 1,023,636 - 2,935,370

The Committee of Drectors of the Company on December 14.2017 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Refund Intimations are being dispatched to the address of the investors as registered with the depositories. Further, the instruction to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on December 14.2017 and payment to non-Syndicate brokers have been issued by December 15. 2017. In case the same is not received within six working days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successfull Allottees have been uploaded on December 14.2017 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing application with NSE and BSE on December 14.2017. The Company has received listing and trading approval from BSE and NSE and the trading will commence on December 18.2017.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer 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 Offer quoting full name of the first/sole Bidder. Bidder, Bid cum Application Form number. Bidder DP ID,Client ID, PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for. the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

Link Intime India Private Limited
C-101.247 Park. L B S Marg. Vikhroli (West). Mumbai 400 083: Tel. +91 22 4918 6200; Fax. +91 22 49186195
E-mail futuresupply.ipo@linkintime.co.in; Investor Grievance E-mail: futuresupply.ipo@linkintime.co.in
Website: www.linkintime.co.in   Contact Person Shanti Gopalkrishnan: SEBl Regrstration No: INR000004058

Place. Mumbai

Date: December 15,2017

For FUTURE SUPPLY CHAIN SOLUTIONS LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer

Future Supply Chain IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Future Supply Chain IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Future Supply Chain 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 Future Supply Chain IPO basis of allotment status?

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

    Visit the Future Supply Chain IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Future Supply Chain IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Future Supply Chain 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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