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GCM Capital Advisors IPO Details

Issue Open May 5, 2014
Issue Close May 7, 2014
IPO Price ₹20
Face Value ₹10
IPO Size ₹9.00 Cr
Listing At BSE SME
IPO Lot Size 6000

GCM CAPITAL ADVISORS LIMITED

Our Company was incorporated as 'GCM Capital Advisors united' a public limited company under the Companies Act, 1956 pursuant to Certificate of incorporation dated May 9, 2013 issued by the Registrar ot Companies, Maharashtra, Mumbai. Our Company received the Certificate of Commencement of Business on May 31, 2013 issued by the Registrar of Companies, Maharashtra, Mumhai. Our corporate identification number is U65923MH2013PLC243163. For further details of our Company, please refer to the chapters titled 'Genera/ information' and 'History and Certain Corporate Matters' beginning on page numbers 29 snd 69, respectively, of the Prospectus.

Registered Office: 505, Raheja Centre, 214, Free Press Journal Marg. Nariman Point, Mumbai - 400021, India
Tel; +91 22 3035 9103. Fax: +91 22 3085 9107
Website: www.gcmcap.com E-mail: ipo@gcmcap.com
Company Secretary and Compliance Officer: Ms. Suman Makhija

OUR PROMOTER: GCM SECURITIES LIMITED

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 45,00.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF GCM CAPITAL ADVISORS LIMITED (THE -COM PA NY' OR THE ISSUER') FOR CASH AT A PHlCE OF RS 20 PER EQUITY SHARE, INCLUDING A.SHARE PREMIUM OF RS 10 PER EQUITY SHARE (THE 'ISSUE PRICE''), AGGREGATING RS.900.00 LACS ('THE ISSUE'), OF WHICH 2,28,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PHICE OF RS 20 PER EQUITY SHARE, AGGREGATING RS 45.60 LACS Wl LL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 42,72.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 20 PER EQUITY SHARE. AGGREGATING RS 854.40 LACS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.56% AND 25.22% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE -SEBI REGULATION S'). OUT OF THE NET OFER OF 42,72,000 EQUITY SHARES. NOT LESS THAN 50% SHALL BE AVALABLE TO RETAIL IN DIVIDUAL IN VESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTH ER THAN RETAIL INVESTORS AND OTHER INVESTORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORATIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.

THE FACE VALUE OF THE EOUITV SHARES IS  RS 10 EACH AND THE ISSUE PRICE OF RS 20 IS 2 TIMES OF THE FACE VALUE

ISSUE OPENED ON MONDAY, MAY 5, 2014
CLOSED ON WEDNESDAY, MAY 7, 2014

PROPOSED LISTING: WEDNESDAY, MAY 21, 2014

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of BSE Limited ('BSE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations. 2009, as amended from time to time, 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 April 04, 2014 from BSE for using its name in this Prospectus for listing of our Equity Shares on the SME Platform of BSE. For the purpose of this issue, BSE shall be the Designated Stock Exchange. The trading is proposed to be commenced wilh effect from Wednesday. May 21. 2014*.

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

All Applicants were allowed to participate in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of their respective bank accounls in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (Ihe 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 1233 applications lor 1,38,37,200 Equity Shares resulting in 3.0749 times subscription (including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections and after cheque returns) are as follows:

Detail of the Applications Received (Before Technical Rejection)

Category No. of Applications % No. of Equity Shares % Subscription
Markat Maker 1 0.08 2,28,000 1.65 1.0000
Retail Individual Applicant 890 72.18 53,35,200 38.56 2.4978
Other than Retain Individual Applicants 342 27.74 82,74,000 59.80 3.8736
Total 1233 100.00 1,38,37,200 100.00 3.0749

The details of applications rejected by the Registrar on technical grounds/withdrawal are detailed below:

Technical rejection/Withdrawal

Category No. of
Applications
No. of
Equity Shares
Markat Maker Nil Nil
Retail Individual Applicant 44 2,59,200
Non Institutional Applicant 10 1,92,000
Total 54 4,51,200

After eliminating Technically Rejected applications, the following table gives the details of Category wise net valid applications:

After technical rejections

CATEGORY NO. OF APPLICATIONS % NO. OF EQUITY SHARES (VALID) % SUBSCRIPTION NO. OF EQUITY SHARES (ALLOTED)
Market Maker 1 0.08 2,28,000 1.70 1.0000 2,28,000
Retail Individual Applicant 846 71.76 50,76,000 37.92 2.3764 21,36,000
Other than Retain Individual Applicants 332 28.16 80,82,000 60.38 3.7837 21,36,000
Total 1,179 100.00 1,33,86,000 100.00 2.9747 45,00,000

The Basis of Allotment was finalized in consultation with the Designated Stock Exchangen - BSE Limited on May 15, 2014.

A. Allocation to Market Meker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 20/- 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 2.28.000 Equity Shgres.

B. Allocation to Retail Individual Investors (After Technical Rejections): The Basts of Allotment to the Retail Individual Investors, at the issue price of Rs. 20/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 2.3764 times. The total number of shares allotted in this category is 21,36,000 Equity Shares.

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

No.of Shares applied for (Category wise) No. of Applications Receives % to total Total No. of Shares Applied in each category % of total Proportionate Shares Available Allocation Per Applicant Before Rounding Off Allocation Per Applicant After Rounding Ratio of Allottees to Applicants Total No. of Shares Allotted Surplus/ Defecit
6000 846 100.00 50,76,000 100 00 21,36,000 2524.82 6000 8:19 21,36,000 0
Total 846 100.00 50,76,000 100.00 21,36,000 21,36,000 0

B. Allocation to Other than Retail Individual Investors (Alter Technical Rejections): The Basis of Allotment to the Other than retail Individual Investors, at the issue price of Rs 20/- per Equity Share, was finalised in consultation with BSE. The category was subscribed 3.7337 times. The total number of shares allotted in this category is 21,38,900 Equity Shares.

The Category-wise details of Ihe Basis ol Allotment are as undsr:

No.of Shares applied for (Category wise) No. of Applications Receives % to total Total No. of Shares Applied in each category % of total Proportionate Shares Available Allocation Per Applicant Before Rounding Off Allocation Per Applicant After Rounding Ratio of Allottees to Applicants Total No. of Shares Allotted Surplus/ Defecit
12,000 175 52.71 21,00,000 25.98 5,55,011 3.171.49 6,000 8:15 5,58,000 2989
18,000 35 10.54 6,30,000 7.80 1,66,503 4,757.24 6,000 4:5 1,68,000 1497
24,000 53 15.96 12,72,000 15.74 3,36,178 6,342.98 6,000 1:1 3,18,000 -18178
30,000 10 3.01 3,00,000 3.71 79,287 7,928.73 6,000 1:1 60,000 -19287
36,000 29 8.73 10,44,000 12.92 2,75,920 9,514.48 6,000 1:1 1,74,000 -101920
6,000 23:29 1,38,000 1,38,000
42,000 2 0.60 84,000 1.04 22,200 11,100.22 12,000 1:1 24,000 1800
48,000 8 2.41 3,84,000 4.75 1,01,488 12,685.97 12,000 1:1 96,000 -5488
60,000 5 1.51 3,00,000 3.71 79,287 15,857.46 18,000 1:1 90,000 10713
72,000 1 0.30 72,000 0.89 19,029 19,028.95 18,000 1:1 18,000 -1029
78,000 3 0.90 2,34,000 2.90 61,844 20,614.70 18,000 1:1 54,000 -7844
96,000 3 0.90 2.88.000 3.56i 76,118 25,371.94 24,000 1:1 72,000 -4116
1,02,000 1 0.30 1.02 000 1.26 26,958 26,957.68 24,000 1:1 24,000 -2358
1,08,000 2 0.60 2,16,000 2.67 57,087 28,543.43 30,000 1:1 60,000 2913
1,26,000 1 0.30 1,26,000 1.56 33,301 33,300.67 36,000 1:1 36,000 2699
1,80,000 1 0.30 1,80,000 2.23 47,572 47,572.38 48,000 1:1 48,000 428
2,40,000 1 0.30 2,40,000 2.97 63,430 63,429.84 66,000 1:1 66,000 2570
2,52,000 1 0.30 2,52,000 3.12 66,601 66,601.34 66,000 1:1 66,000 -601
2,58,000 1 0.30 2,58,000 3.19 68,187 68,187.08 66,000 1:1 66,000 -2187
Total 332 100.00 80,82,000 100.00 21,36,000 21,36,000 0

The Board of Directors of the Company at its meeting held on May 16, 2014 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchage viz. BSE Limited and has authorized the corporate for the Equity Shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices are being dispaiched to the address of the Applicants as registered with the depositories on May 19, 2014. Further, the instructions to Self Certified Syndicate Banks are being dispatched on or prior to May 19, 2014. In case the same is not received within 10 days, Investors may contact at the address given below. Refunds have been made through Direct credit. RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders are being dispatched to their address as registe red with the depositories. En case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. 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 gat the Equity Shares admitted for trading on the SME Platform of BSE Limited within twelve 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 April 15, 2014 ('Prospectus').

INVESTORS PLEASE MOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, S.K. Infosolutions Private Limited at www.skcinfo.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:

S.K. Infosolutions Private Limited
34/1A, Sudhir Chatterjee Street, Kolkata - 700006
Tel No: +91 33 2219 6797; Fax No: +91 33 2219 4815
Website:www.skcinfo.com; Email: contact@skcinfo.com
Contact Person: Mr. Dilip Bhattacharya
SEBI Registration No: INR000003886

Place : Mumbai
Date  : May 19, 2014

For GCM CAPITAL ADVISORS LIMITED
On behalf of the Board of Directors
Sd/-
Mr. Samir Baid
Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF GCM CAPITAL ADVISORS LIMITED.

GCM Capital Advisors IPO Basis of Allotment FAQs

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

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

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