India Green Reality IPO Details

Issue Open Sep 30, 2016
Issue Close Oct 6, 2016
IPO Price ₹30
Face Value ₹10
IPO Size ₹10.38 Cr
Listing At BSE SME
IPO Lot Size 4000

INDIA GREEN REALITY LIMITED

CIN No: U70101GJ2009PLC058214

Our Company was originally incorporated on September 29.2009. as India Green Reality Private Limited under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat. Dadra and Nagar Havelli. Our Company was converted into a Public Limiled Company pursuant to Shareholders resolution passed at the Extra Ordinary General Meeting held on January 27,2016 and consequently, the name of our Company was changed to 'India Green Reality Limited' vide a fresh Certiticate of Incorporation dated February 24, 2016, issued ay the Registrar of Companies, Ahmedabad, Gujarat. The corporate identification number (CIN) of our Company is U70101GJ2009PLC058214. For further details, please see the section titted 'History and Other Certain Corporate Matters' beginning on page 90 of the Prospectus.

Registered Office; 12. Satyam Mall. Near Kameshwar School. Jodhpur Char Rasta. Satellite, Ahmedabad - 380015 Gujarat. India. | Tel: +91-79-40096471 Corporate Office: 308, 3rd Floor; Iskon Mall, Star India Bazar building, Satellite Road. Ahmedabad -380015, Gujarat. India | Tel: +91-79-4300 8787
Email: compliance@indiagreenrealily.com | Website: www.indiagreenreality.com | Company Secretary and Compliance Officer; Mr. Nirav Shah

PROMOTERS OF OUR COMPANY: MR. VINODKUMAR M. THAKER AND MR. AMITAVA SAMANTA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 34,60,000 EQUITY SHARES OF RS 10 EACH ('EQUITY SHARES') OF INDIA GREEN REALITY LIMITED ('IGRL' OR THE ('COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 30 PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS 1038.00 LACS ('THE ISSUE') OF WHICH. 1.80.000 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 32.80.000 EQUITY SHARES OF RS 10 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.22% AND 25.81 %. RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND
THE ISSUE PRICE OF  30,00 IS 3,00 TIMES OF THE FACE VALUE
ISSUE OPENED ON FRIDAY, SEPTEMBER 30, 2016 AND CLOSED ON THURSDAY, OCTOBER O6, 2016.

The Equity Shares of the Company are proposed to be listed on the SME platform of   BSE Limited in terms of the Chapter XB of the SEBI (ICDR) Regulation 2009 as amended from time to time.However our Company has received an approval via letter dated September 22,2016 from BSE Limited ('BSE') for using its name in the offer document for listing of our shares on the SME Platform of BSE. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The Trading is proposed to be commenced on or before October 16,2016*
* Subject to receipt of listing and trading approvals from the BSE Limited.
This, being a Fixed Price Issue, the allocation in the Net Issue to the Public category shall be made as per Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, wherein a minimum of 50% of the Net Offer of shares to the Public shall initially be made available for allotment to Retail individual investors. The balance Net Issue of Shanes to the public 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. Under subscription, if any. in any of the categories, would be allowed to be met with spillover from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designation Stock Exchange. Such interse-spill over, if any. would be affected in accordance with applicable laws, rules, regulalions and guidelines. All Investors shall participate in the Issue only through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ABB A*) 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 257 applications for 37,40,0000 Equity Shares resulting in 1.08 times subscription (including reserved portion of market maker). The details of the applications received in the Issue (before Technical Rejections) are as fellows:
Detail of the Applications Received (Before Technical Rejections):

Category No. of Applications % to
Total
Number of
Equity Shares
% to
Total
Subscription (Times)
Market Maker 1 0.39 1.80.000 4.81 1.00
Retail individual Investors 195 75.87 7,80,000 20.86 0.48
Other than Retail individual Investors 61 23.74 27,80,000 74.33 1.70
Total 257 100.00 37.40.000 100.00 1 08

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

Category No. of Applications No. of Equity Shares
Market Maker Nil Nil
Retail individual Investors 8 32,000
Other than Retail individual Investors 1 8,000
Total 9 40,000

After eliminating technically rejected applications.the following tables give us category wise net valid applications:

Category No of Applications % to
Total
Issue Size (as per Prospectus) No. of Valid
Shares applied
% of Total Applied Subscription (Times) Revised * Subscription
(Times)
Market Maker 1 0.40 1.80.000 1,80,000 4.86 1.00 1.00
Retail individual Investors 187 75.41 16.40,000 7.48.000 20.22 0.46 0.46
Other than Retail individual Investors 60 24.19 16,40,000 27,72,000 74.92 1.69 1.09
Total 248 100.00 34,60,000 37,00,000 100.00 1.07 1.07

* After Spill-over of  8.92.000 shares from Retail Individual Investors to Other than Retail Individual Investors
Allocation; The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on October 14.2016
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of  Rs 30 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 1,80,000 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 30 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.46 times. Total number of shares allotted in this category is 7,48,000 Equity Shares to 187 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 Equity Shares applied in this Category  

% to
Total

 

Proportionate Shares Available Allocation per Applicant (Before Rounding off) Allocation per Applicant (After Bounding off) Ratio of Allottees to Applicants Number of Successful applicants (after rounding off) Total No. of Equity Shams, allocated allotted No.of Shares Surplus/ Deficit
4000 187 100.00 7.48.000 100.00 16,40,000 4000 4000 1:1 187 7.48.000 8,92:000
Total 187 100.00 7.48.000 . 100.00 16,40,000 187 7.48.000 8.92,000

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs 30 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.09 times. Total number of shares allotted in this category is 25,32,000 Equity Shares. The category wise basis of allotment is as under

No.of Shares Applied for   (Category wise) No.of Applications received % to
Total
Total No. of Equity Shares applied in this Category  

% to
Total

 

Proportionate Shares Available Allocation per Applicant (Before Rounding off) Allocation per Applicant (After Bounding off) Ratio of Allottees to Applicants Number of Successful applicants (after rounding off) Total No. of Equity Shams, allocated allotted No.of Shares Surplus/ Deficit
8000 12 20.00 96000 3.46 87688 7307.36 8000 1:1 12 96000 (8312)
12000 2 3.33 24000 0.87 21922 10961.04 12000 1:1 2 24000 (2078)
16000 8 13.33 128000 4.62 116918 14614.72 16000 1:1 8 128000 (11082)
20000 2 3 33 40000 1.44 36537 18268.40 20000 1:1 2 40000 (3463)
24000 2 3.33 48000 1.73 43844 21922.08 20000 1:1 2 40000 3844
32000 17 28.33 544000 19.62 496900 29229.44 28000 1:1 17 476000 20900
36000 1 1.67 36000 1.30 32883 32883.12 32000 1:1 1 32000 883
48000 1 1.67 48000 1.73 43844 43844.16 44000 1:1 1 44000 (156)
56000 1 1.67 56000 2.02 51152 51151.52 52000 1:1 1 52000 (848)
64000 1 6.67 64000 2.31 58459 58458.87 60000 1:1 1 60000 (1541)
68000 4 6.07 272000 9.81 248450 62112.55 60000 1:1 4 240000 8450
4000 1:2 2 8000 (8000)
80000 1 1.67 80000 2.89 73074 73073.59 72000 1:1 1 72000 1074
112000 1 1.67 112000 4.04 102303 102303.03 104000 1:1 1 104000 (1697)
132000 1 1.67 132000 4.76 120571 120571.43 120000 1:1 1 120000 571
136000 2 3.33 272000 9.81 248450 124225.11 124000 1:1 2 248000 450
152000 1 1.67 152000 5.48 133840 138839.83 140000 1:1 1 140000 (1160)
164000 1 1.67 164000 5.92 149801 149800.87 148000 1:1 1 148000 1801
168000 1 1.67 168000 6.06 153455 153454.55 152000 1:1 1 152000 1455
336000 1 1.67 336000 12.12 306909 306909.09 308000 1:1 1 308000 (1091)
Total 60 100.00 27,72,000 100.00 25.32.000 60 25,32.000

The Board of Directors of the Company at its meeting held on October 14, 2016 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE 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 are being dispatched to the address of the Applicants as registered with the depositories. Further, the Instructions to Self Certified Syndicate Banks for unblocking the amount have been processed on October 14, 2016. in case the same is not received within prescribed time, investors may contact 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 the SME Platform of BSE Limited within six working days from the date of the closure of the Issue.
Nate: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 23,2016 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website on the Registrar to the Issue, Karvy Computershare Private Limited at www.karisma.karvy.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:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B. Plot 31 -32 , Gachibowli, Financial District, Nanakramguda, Hyderabad - 500 032, India.
Tel: +91 -40- 6713 2222; Fax; +91 - 40-2343 1551; Email: indiagreen.ipo@karvy.com; Website: www.karisma.karvy.com
Contact Person; Mr. M. Murli Krishna; SEBI Registration No, INR000000221

Place: Ahmedabad

Date: 15.10.2016 

For India Green Reality Limited
On behalf of the Board of Directors
Sd/-
Mr. Vinodkumar M. Thaker
Managing Director

India Green Reality IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in India Green Reality IPO?

    Check the basis of allotment document above to know about how the shares are allocated in India Green Reality 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 India Green Reality IPO basis of allotment status?

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

    Visit the India Green Reality IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is India Green Reality IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in India Green Reality 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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