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KNOWLEDGE MARINE & ENGINEERING WORKS LIMITED |
(CIN - U74120MH2015PLC269596) |
(Our Company was incorporated as "Knowledge Marine & Engineering Works Private Limited" under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated October 26, 2015 bearing CIN: U74120MH2015PTC269596 issued by the Registrar of Companies, Mumbai. Subsequently, our Company was converted into a Public Limited Company pursuant to the special resolution passed by the shareholders at the Extra-Ordinary General Meeting of our Company held on January 23, 2020 and consequent upon conversion the name of our Company was changed to "Knowledge Marine & Engineering Works Limited" vide a fresh certificate of incorporation dated January 31, 2020 bearing CIN:U74120MH2015PLC269596 issued by the Registrar of Companies, Mumbai.
Registered Office: Office No. 402, Sai Samarath Business Park, Deonar Village Road, Govandi (East) Mumbai 400088, Maharashtra, India; |
Contact Person: Ms. Sonali Chetan Gor, Company Secretary & Compliance Officer |
Tel No: +91-022-35530988; E-mail - info@kmew.in; Website: www.kmew.com |
Promoters of Our Company: Mr. Saurabh M. Daswani and Mrs. Kanak S. Kewalramani |
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF 27,36,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH (THE "EQUITY SHARES") OF KNOWLEDGE MARINE & ENGINEERING WORKS LIMITED ("OUR COMPANY" OR "KMEWL" OR "THE ISSUER") AT AN ISSUE PRICE OF Rs. 37.00 PER EQUITY SHARE FOR CASH, AGGREGATING UP TO Rs. 1012.32 LAKHS ("PUBLIC ISSUE") OUT OF WHICH 1,44,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH. AT AN ISSUE PRICE OF Rs. 37.00 PER EQUITY SHARE FOR CASH, AGGREGATING Rs. 53.28 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE PUBLIC ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 25,92,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH, AT AN ISSUE PRICE OF Rs. 37.00 PER EQUITY SHARE FOR CASH, AGGREGATING UPTO Rs. 959.04 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE WILL CONSTITUTE 26.73% AND 25.32 % RESPECTIVELY OF THE POST- ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
The face value of the equity shares is Rs 10 each and the issue price is Rs 37 each. The issue price is 3.7 times of the face value of equity share.
ISSUE | OPENED ON: TUESDAY, MARCH 09, 2021 |
CLOSED ON: FRIDAY MARCH 12, 2021 |
PROPOSED LISTING: MARCH 22, 2021*
The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE") in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an In Principal approval letter dated December 30,2020 from BSE Limited ("BSE") for using its name in the Offer Document for listing of our shares on the SME Platform of BSE. It is to be distinctly understood that the permission given by BSE Limited ("BSE") should not in any way be deemed or construed that the content of the Prospectus or the price at which the equity share are offered has been cleared, solicited or approved by BSE, nor does it certify the correctness, accuracy or completeness of any of the content of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to BSE. 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 March 22, 2021*.
*Subject to the receipt of listing and trading approval from the BSE SME Platform.
All Applicants were allowed to participate in the Issue either 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") or through UPI Mechanism.
SUBSCRIPTION DETAILS
The issue has received 1681 applications for 72,99,000 Equity shares resulting in 2.6678 times subscription (including reserved portion of Market maker). There were 83 applications for 549,000 Equity Shares, which are figuring in the bid file but the concerned application has not been received through any of the SCSBs.
The details of applications received in the issue (before technical rejections but after excluding bids not banked) are as follows:
Category | No. of applicants | % | No. of Equity shares | % | Subscription (times)* |
Market Maker | 1 | 0.06 | 1,44,000 | 1.97 | 1.000 |
Retail Individual Investors | 1583 | 94.17 | 47,49,000 | 65.06 | 3.6644 |
Other than retail individual Investors | 97 | 5.77 | 24,06,000 | 32.96 | 1.8565 |
Total | 1681 | 100.00 | 72,99,000 | 100.00 | 2.6678 |
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
Category | No. of applicants | No. of Equity shares |
Market Maker | Nil | Nil |
Retail Individual Investors | 40 | 1,20,000 |
Other than retail individual Investors | 1 | 9,000 |
Total | 41 | 1,29,000 |
After eliminating technically rejected applications, the following table gives us category wise net valid applications:
Category | No. of applicants | % | Issue Allocation as per Prospectus (Category wise) | Equity shares Alloted* | No. of valid shares applied | % of Total Applied | Subscription (times) on basis of revised Issue Allocation |
Market Maker | 1 | 0.06 | 1,44,000 | 1,44,000 | 1,44,000 | 2.01 | 1.0000 |
Retail Individual Investors | 1543 | 94.09 | 12,96,000 | 17,10,000 | 46,29,000 | 64.56 | 2.7070 |
Other than retail individual Investors | 96 | 5.85 | 12,96,000 | 8,82,000 | 23,97,000 | 33.43 | 2.7177 |
Total | 1640 | 100.00 | 27,36,000 | 27,36,000 | 71,70,000 | 100.00 | 2.6206 |
*lf the retail individual investor category is entitled to more than fifty per cent on proportionate basis, the retail individual investors shall be allocated that higher percentage.
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on March 16,2021.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 37/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1.44.000 Equity Shares to 1 successful applicant.
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 |
1,44,000 | 1,44,000 | 100 | 1,44,000 | 100 | 1,44,000 | 1,44,000 | 1,44,000 | 1 | 1 | 1 | 1,44,000 | 0 |
Grand Total | 1,44,000 | 100 | 1,44,000 | 100 | 1,44,000 | 1,44,000 | 1,44,000 | 1 | 1,44,000 | 0 |
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 37/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 3.57 times. The total number of shares allotted in this category is 17,10,000 Equity Shares to 570 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 |
3000 | 1543 | 100 | 46,29,000 | 100 | 17,10,000 | 3000 | 3000 | 570 | 1543 | 570 | 17,10,000 | - |
Grand Total | 1543 | 100 | 46,29,000 | 100 | 17,10,000 | 570 | 17,10,000 | - |
C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal):
The Basis of Allotment to the Other than retail individual Investors, at the issue price of Rs. 37/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.85 times. The total number of shares allotted in this category is 8,82,000 Equity Shares to 87 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 |
6000 | 35 | 36.46 | 210000 | 8.76 | 77273 | 2207.80 | 3000 | 26 | 35 | 26 | 78000 | 727 |
9000 | 13 | 13.54 | 117000 | 4.88 | 43051 | 3311.62 | 3000.00 | 1 | 1 | 13 | 39000 | -4051 |
3000 additional share is allocated for Serial no 2 in the ratio of 1:13 | 1 | 13 | 3000 | 3000 | ||||||||
12000 | 8 | 8.33 | 96000 | 4.01 | 35324 | 4415.50 | 3000.00 | 1 | 1 | 8 | 24000 | -11324 |
3000 additional share is allocated for Serial no 3 in the ratio of 1:2 | 1 | 2 | 12000 | 12000 | ||||||||
15000 | 20 | 20.83 | 300000 | 12.52 | 110388 | 5519.40 | 3000.00 | 1 | 1 | 20 | 60000 | -50388 |
3000 additional share is allocated for Serial no 4 in the ratio of 17:20 | 17 | 20 | 51000 | 51000 | ||||||||
24000 | 1 | 1.04 | 24000 | 1.00 | 8831 | 8831.00 | 9000.00 | 1 | 1 | 1 | 9000 | 169 |
27000 | 3 | 3.13 | 81000 | 3.38 | 29805 | 9935.00 | 9000.00 | 1 | 1 | 3 | 27000 | -2805 |
3000 additional share is allocated for Serial no 6 in the ratio of 1:3 | 1 | 3 | 3000 | 3000 | ||||||||
30000 | 4 | 4.17 | 120000 | 5.01 | 44155 | 11038.75 | 9000.00 | 1 | 1 | 4 | 36000 | -8155 |
3000 additional share is allocated for Serial no 7 in the ratio of 3:4 | 3 | 4 | 9000 | 9000 | ||||||||
39000 | 2 | 2.08 | 78000 | 3.25 | 28701 | 14350.50 | 12000.00 | 1 | 1 | 2 | 24000 | -4701 |
3000 additional share is allocated for Serial no 8 in the ratio of 1:2 | 1 | 2 | 3000 | 3000 | ||||||||
42000 | 1 | 1.04 | 42000 | 1.75 | 15454 | 15454.00 | 15000.00 | 1 | 1 | 1 | 15000 | -454 |
48000 | 2 | 2.08 | 96000 | 4.01 | 35324 | 17662.00 | 18000.00 | 1 | 1 | 2 | 36000 | 676 |
69000 | 1 | 1.04 | 69000 | 2.88 | 25389 | 25389.00 | 24000.00 | 1 | 1 | 1 | 24000 | -1389 |
81000 | 1 | 1.04 | 81000 | 3.38 | 29805 | 29805.00 | 30000.00 | 1 | 1 | 1 | 30000 | 195 |
135000 | 2 | 2.08 | 270000 | 11.26 | 99349 | 49674.50 | 48000.00 | 1 | 1 | 2 | 96000 | -3349 |
3000 additional share is allocated for Serial no 13 in the ratio ot 1:2 1 2 3000 3000 | ||||||||||||
189000 | 1 | 1.04 | 189000 | 7.88 | 69544 | 69544.00 | 69000.00 | 1 | 1 | 1 | 69000 | -544 |
300000 | 1 | 1.04 | 300000 | 12.52 | 110388 | 110388.00 | 111000.00 | 1 | 1 | 1 | 111000 | 612 |
324000 | 1 | 1.04 | 324000 | 13.52 | 119219 | 119219.00 | 120000.00 | 1 | 1 | 1 | 120000 | 781 |
Grand Total | 96 | 100 | 2397000 | 100 | 882000 | 87 | 882000 | - |
The Board of Directors of the Company at its meeting held on March 17,2021 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for allotment of the Equity Shares to various successful applicants.
The Refund/allotment intimation will be dispatched to the address of the Applicants as registered with the depositories on or about March 18,2021. Further, the instructions to Self Certified Syndicate Banks for unblocking the funds have been shared on March 17, 2021. In case the same is not received within ten 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 SME Platform of BSE Limited 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 02, 2021 ("Prospectus").
In terms of Prospectus dated March 02, 2021 and as per Regulation 253 of SEBI (ICDR) Regulations, 2018 wherein a minimum of 50% of the Net Issue of shares to Public shall initially be made available for allotment to a) Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to b) individual applicants other than retail investors and other investors including corporate bodies / institutions irrespective of number of shares applied for. The unsubscribed portion of the net issue 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: Chapter IX, part VIII (253) of SEBI (ICDR) Regulation, 2018. 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.
INVESTORS PLEASE NOTE:
The details of the allotment made would also be hosted on the website of the Registrar to the Issue Link Intime Private Limited at www.linkintime.co.in. 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 atthe address of the Registrar given below:
LINK INTIME INDIA PRIVATE LIMITED | |
Address:- C-101,1 Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai, Maharashtra, INDIA-400083 | |
Tel No.: +91-022-49186200: Fax No.: +91-022-49186060 Email: kmewl.ipo@linkintime.co.in; Website: www.linkintime.co.in | |
Contact Person: Shanti Gopalkrishnan: SEBI Regn. No. INR000004058 |
For and on behalf of the Board of Directors | |
KNOWLEDGE MARINE & ENGINEERING WORKS LIMITED | |
Sd/- | |
Place: Mumbai, Maharashtra | Ms Sonali Chetan Gor, |
Date: March 18, 2021 | Company Secretary & Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OFTHE KNOWLEDGE MARINE & ENGINEERING WORKS LIMITED.