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Krishana Phoschem IPO Details

Issue Open Feb 13, 2017
Issue Close Feb 16, 2017
IPO Price ₹30
Face Value ₹10
IPO Size ₹19.73 Cr
Listing At NSE SME
IPO Lot Size 4000

KRISHANA PHOSCHEM LIMITED

CIN No.: U24124RJ2004PLC019288

Our Company was originally incorporated on May 14,2004 as 'Krishana Phoschem Limited' vide Registration no. 17-019288/2004-2005 (CIN: U24124RJ2004PLC019288) under the provisions of the Companies Act, 1956 with the Registrar of Companies, Rajasthan, Jaipur. For further details please refer to chapter titled 'History and Certain Corporate Matters' beginning on page 122 of the Prospectus.

Registered Office: 5-0-20 Basement R.C Vyas Colony Bhilwara, Rajasthan - 311001, India. | Tel No.: +91 -1482-237104/ 239091/ 230060
Email: secretanal@krishnaphoschem.com | Website: www.krishnaphoschem.com | Contact Person: Ms. Priyanka Bansal (Company Secretary & Compliance Officer)

PROMOTERS OF OUR COMPANY: MR. PRAVEEN OSTWAL, OSTWAL PHOSCHEM (INDIA) LIMITED AND SEASONS AGRO CHEM INDIA PRIVATE LIMITED

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 65,76,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF KRISHANA PHOSCHEM LIMITED ('OUR COMPANY') FOR CASH AT A PRICE OF RS 30.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 20.00 PER EQUITY SHARE) ('OFFER PRICE') AGGREGATING TO RS 1972.80 LAKHS ('THE OFFER') THROUGH AN OFFER FOR SALE BY MAHENDRA KUMAR OSTWAL, PANKAJ OSTWAL HUF, PRAVEEN OSTWAL HUF, CHUNRI PRINTS PVT. LTD., PANERI TEXTILES PVT. LTD, ARCHID PRODUCTS PVT. LTD, MRS. NITU OSTWAL, MRS. EKTA JAIN, MR. PANKAJ OSTWAL, MAHENDRA KUMAR OSTWAL HUF, SEASONS AGRO CHEM INDIA PVT. LIMITED, MADHYA BHARAT AGRO PRODUCTS LIMITED (COLLECTIVELY REFERRED AS PROMOTERS AND PROMOTER GROUP SELLING SHAREHOLDERS HEREIN AFTER), OF WHICH 3,36,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 30.00 PER EQUITY SHARE, AGGREGATING TO RS 100.80 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION I.E. OFFER OF 62,40,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN OFFER PRICE OF RS 30.00 PER EQUITY SHARE AGGREGATING TO 71872.00 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET OFFER'). THE OFFER AND THE NET OFFER WILL CONSTITUTE 26.41% AND 25.06%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'TERMS OF THE OFFER' BEGINNING ON PAGE 244 OF THE PROSPECTUS.
THIS OFFER IS BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, (THE 'SEBIICDR REGULATIONS'). AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'OFFER PROCEDURE' BEGINNING ON PAGE 252 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARE IS RS 10.00 EACH AND THE OFFER PRICE IS RS 30.00. THE OFFER PRICE IS 3.00 TIMES OF THE FACE VALUE. OFFER OPENED ON MONDAY, FEBRUARY 13, 2017 AND CLOSED ON THURSDAY, FEBRUARY 16, 2017. PROPOSED LISTING: FEBRUARY 27, 2017

The Equity Shares offered through Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ('NSE') ('NSE EMERGE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended; we are not required to obtain an in-principle listing approval for the shares being offered in this offer. However, our company has received an approval letter dated January 25,2017 from NSE for using its name in offer document for listing of our shares on the SME Platform of National Stock Exchange of India Limited. For the purpose of this offer, the Designated Stock Exchange will be the National Stock Exchange of India Limited ('NSE EMERGE'). The trading is proposed to be commenced on or about February 27,2017.
*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

All Applicants were allowed to participate in the offer 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 offer has received 44705 applications for 21,63,08,000 Equity Shares resulting in 32.89 times subscription (including reserved portion of market maker). The details of the applications received in the offer (before technical rejections) ate as follows:

Detail of the Applications Received (Before Technical Rejection):

Category

Number of Applications % to Total Number of Equity Shares % to Total Subscription (Times)
Market Makers 1 0.00 3,36,000 0.16 1.00
Retail Individual Investors 44077 98.60 17,63,08,000 81.51 56.51
Other than Retail Individual Investors 627 1.40 3,96,64,000 18.33 12.71
TOTAL 44705 100.00 21,63,08,000 100.00

Category

No. of Applications No. of Equity Shares
Market Makers Nil Nil
Retail Individual Investors 698 27,92,000
Other than Retail Individual Investors 19 3,76,000
Total 717 31,68,000

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

Category Number of Applications % Reserved Portion (as per Prospectus) No. of Valid Shares applied % of Total Applied Subscription (Times)
Market Maker 1 100 3,36,000 3,36,000 100 1.00
Total 1 100 3,36,000 3,36,000 100 1.00
Category Number of Applications % Reserved Portion (as per Prospectus) Proportionate Offer Size (After Rounding off) No. of Valid Shares Applied % of Total Applied Subscription (Times)
Retail Individual Investors 43379 98.62 31,20,000 50,92,000 17,35,16,000 81.54% 34.08
Other than Retail Individual Investors 608 1.38 31,20,000 11,48,000 3,92,88,000 18.46% 34.22
Total 43987 100.00 62,40,000 62,40,000 21,28,04,000 100.00% -

Allocation: The basis of Allotment was finalized in consultation with the Designated stock Excnange - National stock Excnange of India Limited on february 21,2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the offer price of Rs 30 per Equity Share, was finalised in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 3,36,000 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 % of Total Proporti nate 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 applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
3,36,000 1 100.00 3,36,000 100.00 3,36,000 3,36,000 3,36,000 1 1 1 3,36,000 -
TOTAL 1 100.00 3,36,000 100.00 3,36,000 3,36,000 3,36,000 1 1 1 3,36,000 -

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the offer price of  Rs 30 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 34.08 times i.e. for 17,35,16,000 Equity Shares. Total number of shares allotted in this category is 50,92,000 Equity Shares to 1273 successful applicants.
The cateaorv 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 % of Total Proporti nate 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 applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
4000 43379 100.00 17,35,16,000 100.00 50,92,000 117.38 4000 10 341 1273 50,92,000 0.00
TOTAL 43379 100.00 17,35,16,000 100.00 50,92,000 1273 50,92,000 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 offer price of Rs 30 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 34.22 times i.e. for 3,92,88,000 shares the total number of shares allotted in this category is 11,48,000 Equity Shares to 182 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 % of Total Proporti nate 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 applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/Deficit
8000 189 31.09 1512000 3.85 44179 233.76 4000.00 1 17 11 44000 -179
12000 65 10.69 780000 1.99 22792 350.65 4000.00 1 11 6 24000 1208
16000 42 6.91 672000 1.71 19636 467.52 4000.00 5 42 5 20000 364
20000 50 8.22 1000000 2.55 29220 584.40 4000.00 7 50 7 28000 -1220
24000 26 4.28 624000 1.59 18233 701.27 4000.00 5 26 5 20000 1767
28000 11 1.81 308000 0.78 9000 818.18 4000.00 2 11 2 8000 -1000
32000 33 5.43 1056000 2.69 30856 935.03 4000.00 8 33 8 32000 1144
36000 4 0.66 144000 0.37 4208 1052.00 4000.00 1 4 1 4000 -208
40000 19 3.13 760000 1.93 22207 1168.79 4000.00 5 19 5 20000 -2207
48000 5 0.82 240000 0.61 7013 1402.60 4000.00 2 5 2 8000 987
52000 5 0.82 260000 0.66 7597 1519.40 4000.00 2 5 2 8000 403
56000 2 0.33 112000 0.29 3273 1636.50 4000.00 1 2 1 4000 727
60000 3 0.49 180000 0.46 5260 1753.33 4000.00 1 3 1 4000 -1260
64000 3 0.49 192000 0.49 5610 1870.00 4000.00 1 3 1 4000 -1610
68000 4 0.66 272000 0.69 7948 1987.00 4000.00 1 2 2 8000 52
72000 7 1.15 504000 1.28 14727 2103.86 4000.00 4 7 4 16000 1273
76000 3 0.49 228000 0.58 6662 2220.67 4000.00 2 3 2 8000 1338
80000 16 2.63 1280000 3.26 37402 2337.63 4000.00 9 16 9 36000 -1402
88000 11 1.81 968000 2.46 28285 2571.36 4000.00 7 11 7 28000 -285
92000 6 0.99 552000 1.41 16130 2688.33 4000.00 2 3 4 16000 -130
96000 5 0.82 480000 1.22 14026 2805.20 4000.00 4 5 4 16000 1974
100000 18 2.96 1800000 4.58 52596 2922.00 4000.00 13 18 13 52000 -596
104000 4 0.66 416000 1.06 12156 3039.00 4000.00 3 4 3 12000 -156
108000 2 0.33 216000 0.55 6312 3156.00 4000.00 1 1 2 8000 1688
112000 1 0.16 112000 0.29 3273 3273.00 4000.00 1 1 1 4000 727
120000 5 0.82 600000 1.53 17532 3506.40 4000.00 1 1 5 20000 2468
124000 2 0.33 248000 0.63 7247 3623.50 4000.00 1 1 2 8000 753
128000 6 0.99 768000 1.95 22441 3740.17 4000.00 1 1 6 24000 1559
132000 4 0.66 528000 1.34 15428 3857.00 4000.00 1 1 4 16000 572
140000 3 0.49 420000 1.07 12272 4090.67 4000.00 1 1 3 12000 -272
144000 1 0.16 144000 0.37 4208 4208.00 4000.00 1 1 1 4000 -208
148000 1 0.16 148000 0.38 4325 4325.00 4000.00 1 1 1 4000 -325
152000 1 0.16 152000 0.39 4441 4441.00 4000.00 1 1 1 4000 -441
156000 1 0.16 156000 0.40 4558 4558.00 4000.00 1 1 1 4000 -558
160000 8 1.32 1280000 3.26 37402 4675.25 4000.00 1 1 8 32000 -5402
164000 6 0.99 984000 2.50 28753 4792.17 4000.00 1 1 6 24000 -4753
168000 3 0.49 504000 1.28 14727 4909.00 4000.00 1 1 3 12000 -2727
180000 2 0.33 360000 0.92 10519 5259.50 4000.00 1 1 2 8000 -2519
184000 2 0.33 368000 0.94 10753 5376.50 4000.00 1 1 2 8000 -2753
200000 1 0.16 200000 0.51 5844 5844.00 4000.00 1 1 1 4000 -1844
208000 1 0.16 208000 0.53 6078 6078.00 8000.00 1 1 1 8000 1922
220000 1 0.16 220000 0.56 6428 6428.00 8000.00 1 1 1 8000 1572
240000 1 0.16 240000 0.61 7013 7013.00 8000.00 1 1 1 8000 987
248000 2 0.33 496000 1.26 14493 7246.50 8000.00 1 1 2 16000 1507
260000 2 0.33 520000 1.32 15194 7597.00 8000.00 1 1 1 16000 806
264000 1 0.16 264000 0.67 7714 7714.00 8000.00 1 1 1 8000 286
284000 1 0.16 284000 0.72 8299 8299.00 8000.00 1 1 1 8000 -299
292000 1 0.16 292000 0.74 8532 8532.00 8000.00 1 1 1 8000 -532
332000 3 0.49 996000 2.54 29103 9701.00 8000.00 1 1 3 24000 -5103
4000.00 1 3 0 4000 4000
360000 1 0.16 360000 0.92 10519 10519.00 12000.00 1 1 1 12000 1481
384000 1 0.16 384000 0.98 11221 11221.00 12000.00 1 1 1 12000 779
400000 1 0.16 400000 1.02 11688 11688.00 12000.00 1 1 1 12000 312
416000 1 0.16 416000 1.06 12156 12156.00 12000.00 1 1 1 12000 -156
500000 1 0.16 500000 1.27 14610 14610.00 16000.00 1 1 1 16000 1390
536000 1 0.16 536000 1.36 15662 15662.00 16000.00 1 1 1 16000 338
600000 1 0.16 600000 1.53 17532 17532.00 16000.00 1 1 1 16000 -1532
648000 1 0.16 648000 1.65 18935 18935.00 20000.00 1 1 1 20000 1065
664000 1 0.49 1992000 5.07 58206 19402.00 20000.00 1 1 3 60000 1794
700000 1 0.16 700000 1.78 20454 20454.00 20000.00 1 1 1 20000 -454
804000 1 0.16 804000 2.05 23493 23493.00 24000.00 1 1 1 24000 507
900000 1 0.16 900000 2.28 26298 26298.00 28000.00 1 1 1 28000 1702
6000000 1 0.16 6000000 15.26 175321 175321.00 176000.00 1 1 1 176000 679
TOTAL 608 100.00 39288000 100.00 1148000 182 1148000 0.00

The Board of Directors of the Company at its meeting held on February 21,2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and at a meeting held on February 22,2017 has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices are 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 February 23,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are processed on or prior to February 22,2017 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 steps to get the Equity Shares admitted for trading on the SME Platform of National Stock Exchange of India Limited (NSE EMERGE) within six working days from the date of the closure of the offer. Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated February 06,2017 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the offer, Link Intime India Private Limited at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar to the Offer 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:

LINK INTIME INDIA PRIVATE LIMITED
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400 078, Maharashtra, India
Tel. No.: +91-22 - 61715400; Fax No.: +91-22 - 25960329; Website: www.linkintime.co.in
Email: kpl.ipo@linkintime.co.in; Investor Grievance Email: kpl.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalkrihnan; SEBI Regn. No. INR000004058

Place : Bhilwara

Date: 22.02.2017

 

For KRISHANA PHOSCHEM LIMITED
On behalf of the Board of Directors
Sd/-
Mr. Praveen Ostwal
Managing Director

Krishana Phoschem IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Krishana Phoschem IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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

Visit the Krishana Phoschem IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Krishana Phoschem IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).