HEC Infra Projects IPO Details

Issue Open Mar 10, 2016
Issue Close Mar 18, 2016
IPO Price ₹100
Face Value ₹10
IPO Size ₹5.39 Cr
Listing At NSE SME
IPO Lot Size 1200

HEC INFRA PROJECTS LIMITED

CIN:L45200GJ2005PLC046870

Our Company was incorporated as "HEC Infra Projects Private Limited" under the provisions of the Companies Act, 1956 vide certificate of incorporation dated October 06, 2005 issued by Registrar of Companies, Ahmedabad, Gujarat bearing registration No. 046870. Further our Company was converted into a Public Limited Company and fresh Certificate of Incorporation consequent to conversion was issued on October 01, 2014 by the Registrar of Companies, Ahmedabad, Gujarat and consequently the name of our Company was changed to "HEC Infra Projects Limited". The Corporate Identification Number of Our Company is L45200GJ2005PLC046870. For details of change in registered office of our Company please refer to chapter titled "Our History and Certain Other Corporate Matters" beginning on page 116 of the Prospectus. Registered Office: Sigma-1 Corporates, Corporate House No. 6, Sindhu Bhavan Road, Nr. Mann Party Plot Cross Road, Bodakdev, Ahmedabad, Gujarat-380054, India.
Tel No: +91-79-40086771 - 74; Fax No: +91-79-40086771; E-mail: elect@hecproject.com; Website: www.hecprojects.in Contact Person: Mr. Gaurang Parmanand Shah, Managing Director

PROMOTERS OF OUR COMPANY: MR. GAURANG PARMANAND SHAH AND MRS. RUPAL GAURANG SHAH

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 5,38,800 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF HEC INFRA PROJECTS LIMITED ("HEC" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 100 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 90 PER EQUITY SHARE AGGREGATING RS 538.80 LAKHS (THE "ISSUE") BYOUR COMPANY, OF WHICH 27,600 EQUITY SHARES OF RS 10 FULLY PAID UP EACH WILL BE RESERVED FOR SUBSCRIPTION BYMARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 5,11,200 EQUITY SHARES OF RS 10 EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 26.57% OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION" BEGINNING ON PAGE 216 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 100 THE ISSUE PRICE IS 10.00 TIMES THE FACE VALUE.
ISSUE OPENED ON: MARCH 10,2016 AND ISSUE CLOSED ON: MARCH 18,2016 PROPOSED LISTING: WEDNESDAY, MARCH 30,2016

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, the Company is not required to obtain an in-principle listing approval for the shares being offered in this Issue. However, the Company has received an in-principle approval letter dated February 25,2016 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform.

For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Wednesday, March 30,2016.*

'Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

All Applicants participated 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 Issue has received 410 applications for 986400 Equity Shares resulting in 1.83 times subscription (including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections) are as follows:
Details of the Applications Received (Before Technical Rejection):

Category No. of Applicants % to Total No. of Equity Shares % to Total Subscription (Times)
Market Maker 1 0.25 27600 2.80 1.00
Retail Individual Investors 375 91.46 450000 45.62 1.76
Other than Retail Individual Investors 34 8.29 508800 51.58 1.99
Total 410 100.00 986400 100.00 1.83

The details of applications rejected by the Registrar on technical grounds are detailed below:
(Technical Rejections)

Category No. ofApplicants No. of Equity Shares
MarketMaker Nil Nil
Retail Individual Investors 12 14400
Other than Retail Individual Investors Nil Nil
Total 12 14400

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

Category No.of Applicants % to Total Issue Size (as per Prospectus) No. of Valid Shares applied Subscription (Times)
MarketMaker 1 0.25 27600 27600 1.00
Retail Individual Investors 363 91.21 255600 435600 1.70
Other than Retail Individual Investors 34 8.54 255600 508800 1.99
Total 398 100.00 538800 972000 1.80

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on March 23,2016.
A) Allocation to Marker Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of  Rs 100 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 27,600 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 100 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.70 times. The total number of shares allotted in this category is 255600 Equity Shares to 213 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 Shares Applied in Each Category % to Total Proportionate shares available Allocation
per Applicant (before rounding off)
Allocation
per Applicant
(after rounding off)
Ratio of allottees to applicants:
RATI01
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant
(after
rounding off)
Total no. of Shares Allocated/
allotted
No. of
Shares Surplus/ Deficit
1200 363 100.00 435600 100.00 255600 704.13 1200.00 27 46 213 255600 0
Total 363 100.00 435600 100.00 255600 704.13 1200.00 27 46 213 255600 0

C) Allocation to Non - Retails Category (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs 100 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.99 times. The total number of shares allotted in this category is 255600 Equity Shares to 34 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 Shares Applied in Each Category % to Total Proportionate shares available Allocation
per Applicant (before rounding off)
Allocation
per Applicant (after rounding off)
Ratio of allottees to applicants:
RATIO 1
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant (after rounding off) Total no. of Shares Allocated/
allotted
No. of
Shares Surplus/ Deficit
2400 7 20.59 16800 3.30 8439.62 1205.66 1200 1 1 7 8400 -39.62
3600 3 8.82 10800 2.12 5425.47 1808.49 1200 1 1 3 3600 -1825.47
1200 1 3 1200 1200.00
4800 9 26.47 43200 8.49 21701.89 2411.32 2400 1 1 9 21600 -101.89
6000 1 2.94 6000 1.18 3014.15 3014.15 3600 1 1 1 3600 585.85
7200 1 2.94 7200 1.42 3616.98 3616.98 3600 1 1 1 3600 -16.98
8400 1 2.94 8400 1.65 4219.81 4219.81 3600 1 1 1 3600 -619.81
9600 1 2.94 9600 1.89 4822.64 4822.64 4800 1 1 1 4800 -22.64
10800 1 2.94 10800 2.12 5425.47 5425.47 6000 1 1 1 6000 574.53
13200 1 2.94 13200 2.59 6631.13 6631.13 7200 1 1 1 7200 568.87
19200 2 5.88 38400 7.55 19290.57 9645.28 9600 1 1 2 19200 -90.57
24000 1 2.94 24000 4.72 12056.60 12056.60 12000 1 1 1 12000 -56.60
25200 2 5.88 50400 9.91 25318.87 12659.43 12000 1 1 2 24000 -1318.87
1200 1 2 1200 1200.00
28800 1 2.94 28800 5.66 14467.92 14467.92 14400 1 1 1 14400 -67.92
30000 1 2.94 30000 5.90 15070.75 15070.75 15600 1 1 1 15600 529.25
86400 1 2.94 86400 16.98 43403.77 43403.77 43200 1 1 1 43200 -203.77
124800 1 2.94 124800 24.53 62694.34 62694.34 62400 1 1 1 62400 -294.34
Total 34 100.00 508800 100.00 255600.00 34 255600 0

The Board of Directors of the Company at its meeting held on March 22, 2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The CAN and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories on or before March 28, 2016. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to March 28,2016. In case the same is not received within four working days, investors may contact Registrar 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 NSE Emerge Platform 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 assigned to them in the Prospectus dated March 01,2016 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, CAMEO CORPORATE SERVICES LIMITED at www.cameoindia.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:

CAMEO CORPORATE SERVICES LIMITED
Subramanian Building No.1 ,Club House Road, Chennai-600002, Tamilnadu
Tel: +91-44-28460390; Fax: +91-44-28460129; E-mail: cameo@cameoindia.com; Website: www.cameoindia.com
Contact Person. Mr R D Ramasamy; SEBI Registration No.: INR000003753

Place : Ahmedabad
Date: March 23,2016

For HEC INFRA PROJECTS LIMITED
On behalf of Board of Directors
Sd/-
Managing Director

HEC Infra Projects IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in HEC Infra Projects IPO?

    Check the basis of allotment document above to know about how the shares are allocated in HEC Infra Projects 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 HEC Infra Projects IPO basis of allotment status?

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

    Visit the HEC Infra Projects IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is HEC Infra Projects IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in HEC Infra Projects 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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