Innovana Thinklabs IPO Details

Issue Open Nov 29, 2017
Issue Close Dec 4, 2017
IPO Price ₹70
Face Value ₹10
IPO Size ₹7.70 Cr
Listing At NSE SME
IPO Lot Size 2000

INNOVANA THINKLABS LIMITED
(Formerly known as PCVARK Software Limited)

Corporate Identification Number of our Company is J72900RJ2015PLC047363

Our Company was originally incorporated as "PCVARK Software Private Limited" on Apnl 13, 2015 under the provisions of the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Rajasthan, Jaipur. Further pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on June 14, 2017 our Company was converted into a Public Limited Company and consequently name of our Company was changed to "PCVARK Software Limited" vide fresh certificate of incorporation dated June 27, 2017 issued by the Registrar of Companies, Rajasthan, Jaipur Further the name of the Company was changed from 'PCVARK Software Limited" to "innovana Thinklabs Limited" vide certificate of name change dated August 30, 2017 Issued by Registrar of Companies, Rajasthan, Jaipur. For further details please refer to chapter titled "History and Certain Corporate Matters" beginning on page 99 of the Prospectus.

Registered Office: Plot No. 237A, Gopal Tower, (Basement Floor), Ajmer Road, Jaipur- 302006, Rajasthan, India
Tel No: +91-141-2362324; E-mail: info@pcvark.com , Website: www.pcvark.com

CONTACT PERSON: MS. PRACHI MITTAL, (COMPANY SECRETARY & COMPLIANCE OFFICER)

PROMOTERS OF OUR COMPANY: MR. CHANDAN GARG AND MR. KAPIL GARG

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 11,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES") OF INNOVANA THINKLABS LIMITED ("OUR COMPANY" OR "ISSUER ") FOR CASH AT A PRICE OF RS 70.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 60.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS 770.00 LAKHS ("ISSUE") OF WHICH 60,000 EQUITY SHARES OF FACE VALUE QF RS 10.00 EACH FOR A CASH PRICE OF RS 70.00 PER EQUITY SHARE, AGGREGATING TO RS 42.00 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 10,40,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 70.00 PER EQUITY SHARE AGGREGATING TO RS 728.00 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"), THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.83% AND 25.37%, 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 178 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 *SEBIICDR 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 187 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE ISSUE PRICE IS RS 70.00 THE ISSUE PRICE IS 7.00 TIMES OF THE FACE VALUE,

ISSUE OPENED ON: WEDNESDAY, NOVEMBER 29, 2017AND ISSUE CLOSED ON: MONDAY, DECEMBER 04, 2017

PROPOSED LISTING: DECEMBER 12, 2017

The Equity Shares offered throug h the Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE EMERGE"), Our Company has received an approval letter dated November 10, 2017 from NSE for using its name in the offer document for listing of our shares on the SME Platform of National Stock Exchange of India Limited ("NSE EMERGE"). For the purpose of this Issue, the Designated Stock Exchange is the National Stock Exchange of India Limited. The trading is proposed to be commenced on or about December 12, 2017.*

*Subject to receipt of listing and trading approvals from the National Stock Exchange of lndia Limited.

SUBSCRIPTION DETAILS

The issue has received 729 applications for 27,14,000 Equity Shares resulting in 2.47 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 01 0.14 60,000 2.21 1.00
Retail Individual Investors 705 96.70 14,10,000 51.95 2.71
Other than Retail Individual Investors 23 3.16 12,44,000 45.84 2.39
TOTAL 729 100.00 27,14,000 100.00 2.47

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 Individuat Investors 62 1,24,000
Other than Retail Individual Investors 01 4,000
Total 63 1,28,000

After eliminating technically rejected applications, the fallowing 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 60,000 60,000 100 1.00
Total 1 100 60,000 60,000 100 1.00
Category No. of
Applications
% Reserved
Portion (as per
Prospectus)
Proportionate
Issue Size (After
rounding off)
No.of
Valid Shares
applied
«ftof
Total Applied
Subscription
(Times)
Retail Individual Investors 643 96.69 5,20,000 5,30,000 12,86,000 50.91 2.43
Other than Retail Individual Investors 22 3.31 5,20,000 5,10,000 12,40,000 49.09 2.43
Total 665 100.00 10,40,000 10,40,000 25,26,000 100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on December07, 2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 70 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 60,000 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
60,000 1 100.00 60,000 100.00 60,000 60,000 60,000 1 1 1 60,000 --
TOTAL 1 100.00 60,000 100.00 60,000 60,000 60,000 1 1 1 60,000 --

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal); The Basis of Allotment to the Retail Individual Investors, at the issue pnce of Rs 70 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 2.43 times i.e. for 12,86,000 Equity Shares. Total number of shares allotted in this category is 5,30,000 Equity Shares to 265 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 643 100.00 12,86,000 100.00 5,30,000 824.26 2000 265 643 265 5,30,000 0.00
TOTAL 643 100.00 12,86,000 100.00 5,30,000 265 5,30,000 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 70 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 2.43 times i.e, for 12,40,000 shares the total number of shares allotted in this category is 5,10,000 Equity Shares to 21 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
4,000 6 27.27 24,000 1.94 9,871 1645.16 2,000 5 6 5 10,000 -129
6,000 4 18.18 24,000 1.94 9,871 2467.74 2,000 1 1 4 8,000 -129
6,000 2,000 1 4 0 2,000
8,000 3 13.64 24,000 1.94 9,871 3290.32 2,000 1 1 3 6,000 -129
8,000 2,000 2 3 0 4,000
12,000 1 4.55 12,000 0.97 4,935 4935.48 6,000 1 1 1 6,000 -1065
16,000 1 4.55 16,000 1.29 6,581 6580.65 6,000 1 1 1 6,000 581
20,000 1 4.55 20,000 1.61 8,226 8225.81 8,000 1 1 1 8,000 226
30,000 1 4.55 30,000 2.42 12,339 12338.71 12,000 1 1 1 12,000 339
42,000 1 4.55 42,000 3.39 17,274 17274.19 18,000 1 1 1 18,000 -726
50,000 1 4.55 50,000 4.03 20,565 20564.52 20,000 1 1 1 20,000 565
142,000 1 4.55 142,000 11.45 58,403 58403.23 58,000 1 1 1 58,000 403
428,000 2 9.09 856,000 69.03 352,065 176032.26 176,000 1 1 2 352,000 65
22 100.00 1,240,000 100.00 510000 311758.06 314,000 21 510,000 0.00

The Board of Directors of the Company at its meeting held on December 07, 2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and in meeting held on December 08, 2017 has authorised the corporate action for issue of the Equity Shares to various successful applicant.

The CAN-cum-Refund advices and allotment advice and/or notices will forwarded to the email id's and address of the Applicant as registered with the depositories/ as filled in the application form on or before December 11, 2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to December 11, 2017 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 step to get the Equity Shares admitted for trading on the SME Platform of National Stock Exchange of India Limiiad (NSE EMERGE} 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 November 20, 2017 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue, Skyline Financial Services Private Limited at www.skylinerta.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

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.com Investor Grievance Email: greivence@skylinerta.com
Website: www.skylinerta.com Contact person: Mr. Virender Kumar Rana
SEBI Regn. No: INR000003241

Place: Jaipur
Date: December 08, 2017
For INNOVANA THINKLABS LIMITED
On behalf of Board of Directors
SD/-
Mr. Chandan Garg
Chairman & Managing Director
DIN - 06422150

Innovana Thinklabs IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Innovana Thinklabs IPO?

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

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

    Visit the Innovana Thinklabs IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Innovana Thinklabs IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Innovana Thinklabs 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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