Jigar Cables IPO Details

Issue Open Jul 18, 2017
Issue Close Jul 20, 2017
IPO Price ₹30
Face Value ₹10
IPO Size ₹5.59 Cr
Listing At BSE SME
IPO Lot Size 4000

JIGAR CABLES LIMITED

Our Company was originally formed as a partnership firm under the Indian Partnership Act,1932 in the name of "Jigar Industries" pursuant to a deed of partnership dated August 01, 1997. The name of the partnership firm was changed to "Jigar Cables" pursuant to supplementary agreement modifying the partnership deed dated January 01,2017 .Jigar Cables was thereafter converted from a partnership firm to a public limited company Under Part I, Schedule XXI of the Companies Act, 2013 with the name of "Jigar Cables Limited" and received a fresh certificate of incorporation from the Registrar of Companies, Manesar, Gujarat on February 07, 2017 and Corporate Identification Number U28999GJ2017PLC095651 .The partners of M/s Jigar Cables were initial subscribers to Memorandum of Association of our Company.For furttier details of Incorporation, Change of Name and Registered Office of our company, please refer to chaptert titled "General Information" and "Our History and Certain Other Corporate Matters" beginning on page 55 and page 128 of the Prospectus.

Registered Office: Plot No.164/14 & 15 Jamwadi G.I.D.C Gondal Rajkot 360311, Gujarat, India
Tel No.: 2825-221422; Fax No.: Not Available; E-mail: cs@sigmacab.com; Website: www.sigmacab.com
Corporate Identification Number: U28999GJ2017PLC095651; Contact Person: Chandni Chhabariya, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: VIJAY SHINGALA  AND PARSHOTTAMBHAI   VAGHASIYA

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 18,64,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF JIGAR CABLES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 30 /- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 20 /- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 559.20 LAKHS ("THE ISSUE"), OF WHICH 96,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 30/- PER EQUITY SHARE, AGGREGATING RS. 28.8 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 17,68,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 30/- PER EQUITY SHARE, AGGREGATING RS.530.40 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.51 % AND 25.15 % RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated July 11,2017 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein:
a) A minimum of 50% of the Net Offer to Public shall initially be made available to Retail Individual Investors.
b) The balance net offer of shares to the public shall be made available for allotmentto (i) individual applicants otherthan retail investors and
(ii) other investors including corporate bodies / institutions irrespective of no. of shares applied for.
c) the unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.
Explanation: for the purpose of Regulation 43(4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage. All Investors have participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 240 of the Prospectus.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH.
THE ISSUE PRICE OF RS. 30.00 IS 3 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.
ISSUE OPENED ON JULY 18, 2017 AND CLOSED ON JULY 20, 2017

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ("BSE") ("BSE SME") in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. The Company has received an approval letter dated July 10,2017 from BSE for using its name in the Prospectus for listing of our Shares on BSE SME. The designated stock exchange is BSE SME.

SUBSCRIPTION DETAILS

The Issue has received 2581 applications for 15996000 Equity shares (Before Technical Rejections) (including Market Maker Application of 96000 Equity Shares) resulting 8.58 times subscription. After considering, a Technical Rejection case, the issue was subscribed 8.49 times (including the Market Maker Portion).
The details of application received (Before Technical Rejection)

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES SUBSCRIPTION
Market Maker 1 96,000 1.00
Other than Retail Individual Investor's 205 64,00,000 7.24
Retail Individual Investor's 2,375 95,00,000 10.75
TOTAL 2,581 1,59,96,000

The details of applications rejected by the Registrar on technical grounds are detailed below:

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES
Market Maker 0 0
Other than Retail Individual Investor's 0 0
Retail Individual Investor's 42 1,68,000
TOTAL 42 1,68,000

Detail of the Applications Received (After Technical Rejection):

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES SUBSCRIPTION REVISED SUBSCRIPTION
Market Maker 1 96,000 1.00 1.00
Other than Retail Individual Investor's 205 64,00,000 7.24 8.94
Retail Individual Investor's 2,333 93,32,000 10.56 8.87
TOTAL 2,539 1,58,28,000

in view of the explanation provided under sub-regulation (4) of regulations 43 of the SEBI (ICDR) Regulation, 2009, the Retail Category has applied for 59.32% and 40.68% by Non Retail investors; accordingly, we have derived the issue size for different categories. Further, owing to rounding off, an additional share has been proportioned to be allotted in retail investors
ALLOCATION:
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-BSE on July 25,2017

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 finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 96,000 Equity shares in full out of reserved portion of 96,000 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 8.87 times. Total number of shares allotted in this category are 10,52,000 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
%
to
total
Proportionate
Shares
Available
Allocation per
Applicant (Before
Rounding Off)
Allocation
per Applicant
(After Rounding Off)
Ratio of
Allottees to
the Applicants
Total No. of
Equity Shares
allotted
Surplus/
(Deficit)
4,000 2,333 100 93,32,000 100 10,52,000 450.92 4,000 263:2333 10,52,000 0

C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 30/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 8.94 times. Total number of shares allotted in this category is 7,16,000 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
%
to
total
Proportionate
Shares
Available
Allocation per
Applicant (Before
Rounding Off)
Allocation per
Applicant (After
Rounding Off)
Ratio of
Allottees to
the Applicants
Total No. of
Equity Shares
allotted
Surplus/
(Deficit)
8,000 65 31.71 5,20,000 8.13 58,175 895.00 4,000 3:13 60,000 1,825
12,000 25 12.20 3,00,000 4.69 33,563 1,342.50 4,000 8:25 32,000 -1,563
16,000 21 10.24 3,36,000 5.25 37,590 1,790.00 4,000 3:7 36,000 -1,590
20,000 20 9.76 4,00,000 6.25 44,750 2,237.50 4,000 11:20 44,000 -750
24,000 5 2.44 1,20,000 1.88 13,425 2,685.00 4,000 3:5 12,000 -1,425
28,000 7 3.41 1,96,000 3.06 21,928 3,132.50 4,000 5:7 20,000 -1,928
32,000 12 5.85 3,84,000 6.00 42,960 3,580.00 4,000 11:12 44,000 1,040
36,000 6 2.93 2,16,000 3.38 24,165 4,027.50 4,000 1:1 24,000 -165
40,000 4 1.95 1,60,000 2.50 17,900 4,475.00 4,000 1:1 16,000 -1,900
44,000 3 1.46 1,32,000 2.06 14,768 4,922.50 4,000 1:1 12,000 -2,768
48,000 3 1.46 1,44,000 2.25 16,110 5,370.00 4,000 1:1 12,000 -4,110
48,000 1:3 4,000 4,000
52,000 2 0.98 1,04,000 1.63 11,635 5,817.50 4,000 1:1 8,000 -3,635
56,000 2 0.98 1,12,000 1.75 12,530 6,265.00 8,000 1:1 16,000 3,470
60,000 5 2.44 3,00,000 4.69 33,563 6,712.50 8,000 1:1 40,000 6,438
64,000 2 0.98 1,28,000 2.00 14,320 7,160.00 8,000 1:1 16,000 1,680
72,000 1 0.49 72,000 1.13 8,055 8,055.00 8,000 1:1 8,000 -55
76,000 1 0.49 76,000 1.19 8,503 8,502.50 8,000 1:1 8,000 -503
80,000 8 3.90 6,40,000 10.00 71,600 8,950.00 8,000 1:1 64,000 -7,600
80,000 1:4 8,000 8,000
1,00,000 1 0.49 1,00,000 1.56 11,188 11,187.50 12,000 1:1 12,000 813
1,04,000 2 0.98 2,08,000 3.25 23,270 11,635.00 12,000 1:1 24,000 730
1,20,000 2 0.98 2,40,000 3.75 26,850 13,425.00 12,000 1:1 24,000 -2,850
1,20,000 1:2 4,000 4,000
1,40,000 1 0.49 40,000 2.19 15,663 15,662.50 16,000 1:1 16,000 338
1,52,000 1 0.49 1,52,000 2.38 17,005 17,005.00 16,000 1:1 16,000 -1,005
1,60,000 3 1.46 4,80,000 7.50 53,700 17,900.00 16,000 1:1 48,000 -5,700
1,60,000 1:3 4,000 4,000
2,00,000 1 0.49 2,00,000 3.13 22,375 22,375.00 24,000 1:1 24,000 1,625
2,08,000 1 0.49 2,08,000 3.25 23,270 23,270.00 24,000 1:1 24,000 730
3,32,000 1 0.49 3,32,000 5.19 37,143 37,142.50 36,000 1:1 36,000 -114
Total 205 100 64,00,000 100 7,16,000 7,16,000 0

The Board of Directors of the Company at its meeting held on July 25,2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz.
BSE and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories/as filled in the application form on or before July 28,2017. Further, the instructions to SCSBs shall be issued on July 26,2017 for unblocking of funds. 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. In case the same is not received within prescribed time, Investors may contact the registrar to the Issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before July 28,2017 subject to receipt of listing and trading approvals from BSE.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:

BIGSHARE SERVICES PRIVATE LIMITED
Bharat Tin Works Building, 1 st Floor Opp. Vasant Oasis, Makwana Road,
Marol, Andheri East, Mumbai 400059, Maharashtra.
Tel.: +91-22-4043 0200; Fax: +91-22-2847 5207
Email: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Babu Raphael; SEBI Registration No.: INR000001385

Date: July 26,2017
Place: Gondal

For JIGAR CABLES LIMITED
On behalf of the Board of Directors
Sd/-
VIJAY SINGALA
Chairman and Managing Director

Jigar Cables IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Jigar Cables IPO?

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

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

    Visit the Jigar Cables IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Jigar Cables IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Jigar Cables 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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