Ghushine Fintrrade IPO Details

Issue Open Apr 25, 2016
Issue Close Apr 27, 2016
IPO Price ₹10
Face Value ₹10
IPO Size ₹2.60 Cr
Listing At BSE SME
IPO Lot Size 10000

GHUSHINE FINTRRADE OCEAN LIMITED

Corporate Identity number: - U65910GJ1995PLC025823

Our Company was incorporated as "Pallavi Finstock Private Limited" a private limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated May 10, 1995 issued by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Subsequently, our Company was converted into a public limited company and the name of our Company was changed to 'Pallavi Finslotk Limited' pursuant to a Certificate of Incorporation dated July 14, 2015 issued by the Registrar of Companies, Gujarat Ahmedabad. Further the name of our company was changed to Ghushine Fintrade Ocean Limited vide Certificate of incorporation pursuant to change of name dated August 4, 2015 issued by the Registrar of Companies, Gujarat, Ahmedabad. Our corporate identification number is U65910GJ1995PLC025823. For further details of our Company, please refer to the chapters titled 'General Information' and 'History and Certain Corporate Matters' beginning on page numbers 33 and 36. respectively, of the Prospectus

Registered Office: 203, Trividh Chambers, Rushabh Petrol Pump Lane, Ring Road, Surat - 395002. Gujarat
Tel: + 91 261 2332122; Fax: +91 261 2332122; Email: ghushine95@gmail.com ; Website: www.ghushine.com ;

Company Secretary and Compliance Oflicer: Ms. Akriti Sharma

PROMOTERS OF OUR COMPANY: Mr. ALOK B. JAIN AND Mrs. KAPILA A. JAIN

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 26,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES") OF GHUSHINE FINTRRADE OCEAN LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT PAR; AGGREGATING RS 260.00 LACS ('THE ISSUE"), OF WHICH 1,40,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT PAR, AGGREGATING RS 14.00 LACS WILL 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 24,60,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT PAR, AGGREGATING RS 246.00 LACS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 52.59% AND 49.75% 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 DF THE NET OFER OF 24,60,000 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 INVETORS 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 10 IS 1 TIME OF THE FACE VALUE.

ISSUE OPEN ON MONDAY, APRIL 25, 2016 AND CLOSED ON WEDNESDAY, APRIL 27, 2016.

PROPOSED LISTING: THURSDAY MAY 5, 2016

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 has received an approval letter dated March 22, 2015 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 THURSDAY MAY 5,2016*.
*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 El LOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounis in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs")

SUBSCRIPTION DETAILS.

The Issue has received 367 applications for 65,50,000 Equity Shares resulting in 2.519 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 Reiections)

Category No. Of
Applicants
% to
Total
No. of
Equity Shares
% to
Total
Subscription
Market Maker 1 0.27% 140000 2.14% 1
Retail Individual Applicant 324 88.28% 3470000 52.98% 2.821
Other than Retail Individual Applicants 42 11.44% 2940000 44.89% 2.390
Total 367 100.00% 6550000 100.00% 2.519

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

Category No. of
Applicants
No.ol
Equity Shares
Market Maker Nil Mil
Retail Individual Applicant 13 140000
Non Institutional Applicant 1 100000
Total 14 240000

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

Category

No. of
Applications
% to
Tolal
No. Of
Equity Shares (valid)
% of Total
Applied
Subscription No. Of
Equity Shares
(Allocated)
Maket Maker 1 0.28% 140000 2.22% 1 140000
Retail Individual Applicant 31 1 88.10% 3330000 52.77% 2.504 1330000
Other than Retain Individual Applicants 41 11.61% 2840000 45.01% 2.513 1130000
Total 353 100.00% 6310000 100.00% 2.427 2600000

Allocation: The Basis of Allolment was finalised in consultation with the Designated Stock Exchange - BSE Limited on May 2,2016.

A) Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs.10 per Equity Share, was finalized in consultation with BSE. The calegory was subscribed by 1.00 time. The total number of shares allotted in this calegory is 1,40,000 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 10 per Equity Share, was finalized in consultation with BSE. The total number of shares allotted in this category is 13,30,000 Equity Shares. The retail category has applied for 53.97% at the valid applications under the net offer to public.

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
Tutal No. of
Shares Applied
In each caieiory
% of
tolal
Proportionate
Shares
Available
Allocation Per
Applicant Before
Rounding Off
Allocation Per
Applicant After
Rounding Off
Ratio of
Alottees to
Applicants
Total No.
of Shares
Allolled
Surplus/
deficit
10000 289 92.93 2890000 86.79 1235916 4276.63 10000 124:289 1240000 4084
20900 22 7.07 440000 13.21 94034 4276.53 10090 9:22 90000 -4084
Total 311 100 00 3330000 100.00 1330000 1330000 0

C) Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Other than Retail Individual Investors, at the issue price of Rs 10 per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.513 times. The total number of shares allotted In this category is 11,30,000 Equity Shares.

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

No. of Shares Applied for (Calegory wise) No. of Applications Receives % to Total Tolal No. Of Shares Applied in each caieiory % of tolal Proportionate Shares Available Allocation Per Applicant Belore Rounding off Allocation Per Applicant After Rounding off Ratio of Allottees to Applicants Tolal No. ol Shares Allotted Surplus/ Deficit
30000 1 2.44 30000 1.06 11937 11936.62 10000 1:1 10000 -1937
40000 16 39.02 640000 22.54 254648 15015.49 20000 5:6 260000 5352
50000 2 4.88 100000 3.52 39789 19894.37 20000 1:1 40000 211
60000 4 9.76 240000 8.45 95493 23873.24 20000 1:1 80000 -15493
70000 1 2.44 70000 2.46 27852 27852.11 30000 1:1 30000 2148
90000 4 9.76 360000 12.68 143239 35809.86 30000 1:1 120000 -23239
10000 3:4 30000 30000
100000 11 26.83 1100000 38.73 437676 39788.73 40000 1:1 440000 2324
150000 2 4.88 300000 10.56 119366 59683.10 60000 1:1 120000 634
Total 41 100.00 2840000 100.00 1130000 1130000 0

The Board of Directors of the Company at its meeting held on May 2, 2016 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Share to various Successful applicants.
The CAN and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories on May 3, 2016. Further. the instructions to Sell Certilied Syndicate Banks have been dispatched on or prior to May 3, 2016. 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: All capitalized terms used and not defined herein shall have the respective meaning aligned to them in the prospectus dated April 9,2010 ("Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue. PURVA SHAREEGISTRY (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, Shiv Shakti Ind. Estate, Gr. Floor, J. R. Boricha Manj; Lower Parel, Mumhai - 400 011
Tel: + 91 22 2301 6761 / 6261 Fax: +91 22 2301 2517
Website: www.purvashare.com ; Email: busicomp@vsnl.com
SEBI Regn No. INR000001112; Contact Person: Mr Rajesh Shah

Place : Surat
Date : May 5, 2016
For Ghusliine Fintrade Ocean Limited
On behalf of the Board of Directors
Sd/-
Mr Alok B. Jain
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING ON THE BUSINESS PROSPECTS OF GHUSHINE FINTRADE OCEAN LJMITED.

Ghushine Fintrrade IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Ghushine Fintrrade IPO?

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

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

    Visit the Ghushine Fintrrade IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Ghushine Fintrrade IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Ghushine Fintrrade 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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