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GCM Commodity IPO Details
IPO Date Aug 1, 2013 - Aug 5, 2013
IPO Price ₹20
Face Value ₹10
IPO Size ₹7.02 Cr
Listing At BSE SME
IPO Lot Size 6000

GCM COMMODITY & DERIVATIVES LIMITED

Our Company was incorporated as 'GCM Commodity & Derivatives Private Limited' a private limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated April 26, 2005 issued by the Registrar of Companies, West Bengal. Subsequently our Company was converted into a public limited company and the name of our Company was changed to 'GCM Commodity & Derivatives Limited' pursuant to a Fresh Certificate of Incorporation dated June 14, 2013 issued by the Registrar of Companies, West Bengal. Our corporate identification number is U74999WB2005PLC102819. For further details of our Company, please refer to the chapters titled 'General Information' and 'History and Certain Corporate Matters' beginning on page numbers 27 and 66, respectively, of the Prospectus.

Registered Office: 3B, Lal Bazar Street, Sir R N M House, 5th Floor, Kolkata - 700 001, West Bengal.
Tel: +91 33 3028 5807, Fax: +91 33 3028 5807,
Website: www.gcmcommo.com, E-mail: info@gcmcommo.com
Corporate Office: 805, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai - 400 021;
Tel: +91 22 3023 5731, Fax: +91 22 30201364
Company Secretary and Compliance Officer: Ms. Suman Makhija

OUR PROMOTERS: GCM SECURITIES LIMITED, MR. INDER CHAND BAID, MR. MANISH BAID AND MR. SAMIR BAID

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 35,10,000 EQUITY SHARES OF RS.10 EACH ("EQUITY SHARES") OF GCM COMMODITY & DERIVATIVES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 20 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 10 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 702 LACS ("THE ISSUE"), OF WHICH 1,86,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATTION PORTION I.E. ISSUE OF 33,24,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 20 PER EQUITY SHARE AGGREGATING RS. 664.80 LACS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 47.26% AND 44.76% 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 REGULATIONS"), OUT OF THE NET ISSUE OF 33,24,000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVALABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER 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 EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE OF RS. 20 IS 2 TIMES OF THE FACE

ISSUE OPENED ON THURSDAY, AUGUST 1, 2013 AND CLOSED ON MONDAY, AUGUST 5, 2013
PROPOSED LISTING: WEDNESDAY, AUGUST 14, 2013*

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-principal listing approval for the shares being offered in this Issue. However, our Company had received an approval letter dated July 19, 2013 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 with effect from Wednesday, August 14, 2013*.

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

This being a Fixed Price Issue, the allocation in the Net Offer to the Public category is made in terms of Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, wherein a minimum of 50% of the Net Issue shall initially be made available for allotment to Retail Individual Investors. The balance Net Issue shall be made available for allotment to individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. The unsubscribed portion of the Net Issue to any one of the categories specified above shall/may be made available for allocation to Applicants in the other category, if so required. If the retail individual investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. 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 accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The Issued has received 373 applications Tor 51,84,000 Equity Shares resulting in 1.48 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 Application % No. of Equity Shares % Subscription
Market Maker 1 0.27 1,86,000 3.59 1.00
Retail Individual Applicant 305 81.77% 18,30,000 35.30 1.10
Non Institutional Applicant 67 17.96% 31,68,000 61.11 1.91
Total 373 100.00 51,84,000 100.00 1.48

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
Market Maker Nil Nil
Retail Individual Applicant 2 12000
Non Institutional Applicant Nil Nil
Total 2 12000

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 0.27% 1,86,000 3.60% 1.00 1,86,000
Retail Individual Applicant 303 81.67% 18,18,000 35.15% 1.09 16,62,000
Non Institutional Applicant 67 18.06% 31,68,000 61.25% 1.91 16,62,000
Total 371 100.00% 51,72,000 100.00% 1.47 35,10,000

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on August 12, 2013.

A. Allocation to Market Maker (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 1,86,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis 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 1.09 times. The total number of shares allotted in this category is 16,62,000 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 Off Ratio of Allottees to Applicants Total No. of Shares Allotted Surplus/ Defecit
6000 303 100.00 18,18,000 100.00 16,62,000 5485.15 6000 21:23 16,62,000 0
Total 303 100.00 18,18,000 100.00 16,62,000 16,62,000 0

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs. 20/-per Equity Share, was finalised in consultation with BSE. The category was subscribed 1.91 times. The total number of shares allotted in this category is 16,62,000 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 Off Ratio of Allottees to Applicants Total No. of Shares Allotted Surplus/ Defecit
12000 37 55.22 444000 14.02 232932 6,295.45 6000 1:1 222000 -10932
18000 6 8.96 108000 3.41 56659 9,443.18 12000 1:1 72000 15341
24000 11 16.42 264000 8.33 138500 12,590.91 12000 1:1 132000 -6500
30000 2 2.99 60000 1.89 31477 15,738.64 18000 1:1 36000 4523
60000 3 4.48 180000 5.68 94432 31,477.27 30000 1:1 90000 -4432
96000 1 1.49 96000 3.03 50364 50,363.64 48000 1:1 48000 -2364
102000 1 1.49 102000 3.22 53511 53,511.36 54000 1:1 54000 489
108000 1 1.49 108000 3.41 56659 56,659.09 54000 1:1 54000 -2659
114000 1 1.49 114000 3.60 59807 59,806.82 60000 1:1 60000 193
120000 1 1.49 120000 3.79 62955 62,954.55 66000 1:1 66000 3045
300000 1 1.49 300000 9.47 157386 1,57,386.36 156000 1:1 156000 -1386
600000 1 1.49 600000 18.94 314773 3,14,772.73 318000 1:1 318000 3227
672000 1 1.49 672000 21.21 352545 3,52,545.45 354000 1:1 354000 1455
67 100.00 3168000 100.00 1662000 1662000 0.00

The Board of Directors of the Company at its meeting held on August 12, 2013 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Shares 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 depositories on August 13, 2013. Further, the instructions to Self Certified Syndicate Banks have been dispatched on or prior to August 13, 2013. 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 have been dispatched to their address as registered with the depositories. In 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 get 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 July 24, 2013 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Purva Sharegistry (India) Private Limited at www.purvashare.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:

PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED

No. 9, Gr. Floor, Shiv Shakti Ind. Estate, J. R. Boricha Marg, Lower Parel, Mumbai-400 011
Tel:+91 22 2301 6761/8261; Fax:+91 22 2301 2517
Website: www.purvashare.com; Email: busicomp@vsnl.com
SEBI Regn No.INR000001112
Contact Person: Mr. Rajesh Shah

Place : Mumbai
Date  : August 13, 2013

For GCM COMMODITY & DERIVATIVES LIMITED
On behalf of the Board of Directors
Sd/-
Samir Bald
Managing Director

Find the basis of allotment for GCM Commodity IPO. The basis of allotment document helps to understand how shares are allotted in IPO of GCM Commodity & Derivatives Ltd. It provides detail about how many valid IPO applications received for GCM Commodity IPO and IPO allotment ratio in investor categories i.e. Retail, NII, QIB, Employee and Shareholders. You could find the answer to questions like; why I didn't get IPO allotment in GCM Commodity IPO? or what is the GCM Commodity IPO allotment ratio?




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