Inflame Appliances IPO Details

Issue Open Mar 6, 2018
Issue Close Mar 8, 2018
IPO Price ₹54
Face Value ₹10
IPO Size ₹6.48 Cr
Listing At BSE SME
IPO Lot Size 2000

INFLAME APPLIANCES LIMITED
The Corporate Identification Number of our Company is U74999HP2017PLC006778

Our Company was originally formed as a partnership firm under the Partnership Act, 1932 ('Partnership Act') in the name and style of M/s Techno Engineering Corpn.' vide deed of partnership dated March 20, 2010 entered between Mr. Dinesh Kapoor and Mr. Karan Kapoor. Further the existing partners was retired from the partnership on March 11, 2014 and admitted new partners Mr. Sukhlal Jain and Mr. Praveen Jain. The partnership was reconstituted on July 13, 2015 and the existing partners retired from the partnership with the admission of new partners Mr. Aditya Kaushik and Mr Dinesh Kaushik. The Partnership deed again reconstituted and new partners were admitted vide partnership deed dated October 16, 2017. Further the partnership firm 'M/s. Techno Engineering Corpn' was thereafter converted into Public Limited Company under Part I Chapter XXI of the Companies Act, 2013 with the name and style of 'inflame Appliances Limited' and received a certificate of incorporation from the Registrar of Companies, Central Registration Centre on November 14, 2017. For further details please refer to chapter titled 'History and Certain Corporate Matters' beginning on page 101 of the Prospectus.

Registered Office: Khewat Khatoni No. 45/45, Khasra No. 942/855/1. Village Kalyanpur Tehsil-Baddi, Solan -173205, Himachal Pradesh. India
Tel No: +91-1795-246820 E-mail: info@inflameindia.com Website: www.inflameindia.com

CONTACT PERSON: MR. ABHIMANYU, (COMPANY SECRETARY & COMPLIANCE OFFICER)
PROMOTERS OF OUR COMPANY: MR. ADITYA KAUSHIK. MR. DINESH KAUSHIK AND MR. AMIT KAUSHIK

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 12,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF INFLAME APPLIANCES LIMITED ('OUR COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 54.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 44.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 648.00 LAKHS ('ISSUE') OF WHICH 64,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 54.00 PER EQUITY SHARE, AGGREGATING TO RS 34.56 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 11,36,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 54.00 PER EQUITY SHARE AGGREGATING TO RS 613.44 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.00% AND 28.40%. RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'TERMS OF THE ISSUE' BEGINNING ON PAGE 184 OF THE PROSPECTUS.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE 'SEBI ICDR REGULATIONS'). AS AMENDED THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC IS MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 192 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE ISSUE PRICE IS RS 54.00. THE ISSUE PRICE IS 5.4 TIMES OF THE FACE VALUE.

ISSUE OPENED ON: TUESDAY, MARCH 06, 2018 AND ISSUE CLOSED ON: THURSDAY, MARCH 08, 2018 PROPOSED LISTING: MARCH 16, 2018

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ('BSE SME') Our Company has received an approval letter dated February 19, 2018 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE Limited ('BSE SME'). For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced on or about March16, 2018.*

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

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

SUBSCRIPTION DETAILS

The issue has received 1245 applications (or 27,34,000 Equity Shares resulting In 2.28 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 Rejection):

CATEGORY NUMBER OF
APPLICATIONS
% NUMBER OF
EQUITY SHARES
% SUBSCRIPTION
(TIMES)
Market Makers 1 0.08 64,000 2.34 1.00
Retail Individual Investors 1229 98.71 24,58,000 89.90 4.33
Other than Retail Individual Investors

15

1.20 2,12,000 7.75 0.37
TOTAL 1245 100.00 27,34,000 100.00 2.28

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 Makers Nil Nil
Retail Individual Investors 19 38,000
Other than Retail Individual Investors Nil Nil
TOTAL 19 38,000

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

Category No. of
Applications
% Reserved Portion
(as per Prospectus)
No. of Valid
Shares applied
% of Total
Applied
Subscription
(Times)
Market Maker 1 100 64,000 64,000 100 1 00
Total 1 100 64,000 64,000 100 1.00
Category No. of
Applications
% Reserved
Portion (as per
Prospectus)
Proportionate
Issue Size
(After rounding off)
No. of
Valid Shares
applied
% of
Total
Applied
Subscription (Times)
Retail Individual Investors 1210 98.78 5,68,000 10,46,000 24,20,000 91.95 2.31
Other than Retail Individual Investors 15 1 22 5,68,000 90,000 2,12,000 8.05 2.36
Total 1225 100.00 11,36,000 11,36,000 26,32,000 100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on March 13, 2018.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 54 per Equity Share, was finalised in consultation with BSE Limited The category was subscribed by 1.00 times. The total number of shares allotted in this category is 64,000 Equity Shares
The category wise details of the Basis of Allotment are as under:

No. of
Shares
Applied
for
(Category
wise)
No. Of
Applications
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
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
64,000 1 100.00 64,000 100.00 64,000 64,000 64,000 1 1 1 64,000
TOTAL 1 100.00 64,000 100.00 64,000 64,000 64,000 1 1 1 64,000 -

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue pnee of Rs 54 per Equity Share, was finalized in consultation with BSE Limited The category was subscribed by 2.31 times i.e. for 24,20,000 Equity Shares. Total number of shares allotted in this category is 10,46,000 Equity Shares to 523 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
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
2000 1210 100.00 24,20,000 100.00 10,46,000 864.46 2000 523 1210 523 10,46,000 0.00
TOTAL 1210 100.00 24,20,000 100.00 10,46,000 523 10,46,000 0.00

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs 54 per Equity Share, was finalized in consultation with BSE Limited The category was subscribed by 2.36 times i.e. for 2,12,000 shares the total number of shares allotted in this category is 90,000 Equity Shares to 14 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
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
4000 5 33.33 20,000 9.43 8,491 1698.11 2,000 4 5 4 8,000 491
6000 4 26.67 24,000 11.32 10,189 2547.17 2,000 1 1 4 8,000 2189
6000 Lottery 2,000 1 4 0 2,000 -2000
8000 1 6.67 8,000 3.77 3,396 3396.23 4,000 1 1 1 4,000 -604
10000 4 26.67 40,000 18.87 16,981 4245.28 4,000 1 1 4 16,000 981
120000 1 6.67 120,000 56.60 50,943 50943.40 52,000 1 1 1 52,000 -1057
15 100.00 212000.00 100.00 90000.00 62830.19 66,000 14 90,000 0

The Board of Directors of the Company at its meeting held on March 13, 2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Limited and in meeting held on March 14, 2018 has authorized the corporate action for issue of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will forwarded to the email id's and address of the Applicants as registered with the depositories / as filled in the application form on or before March 15, 2018 Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to March 15, 2018. In case the same is not received within 10 days, 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 (BSE SME) 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 meanings assigned to them in the prospectus dated February 23, 2018 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allottment made would also be hosted on the website of Registrar to the issue, Skyline Financial services Private Limited at www.skylinerta.com . All future correspondence in this regard may kindally 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 adress of the Registrar given below

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED

D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi-110020,
Tel No.: +91 11 64732681-88, Fax No.: +91 11 26292682
Email: virenr@skylinerta.cm ;
Investor Grievance Email: grivances@skylinerta.com , Website: www.skylinerta.com
Contact Person: Mr Virender Rana, SEBI Regn. No.: INR000003241

Place: Solan, Himachal Pradesh
Date : March 14, 2018
For INFLAME APPLICATION LIMITED
On behalf of Board of Directors
Sd/-
Mr. Aditya Kaushik
Managing Director
DIN: 06790052

Inflame Appliances IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Inflame Appliances IPO?

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

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

    Visit the Inflame Appliances IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Inflame Appliances IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Inflame Appliances 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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