Kritika Wires IPO Details

Issue Open Sep 26, 2018
Issue Close Oct 1, 2018
IPO Price ₹32
Face Value ₹10
IPO Size ₹15.40 Cr
Listing At NSE SME
IPO Lot Size 4000
(This is only an advertisement for Information purposes and not a Prospectus announcement)
KRITIKA WIRES LIMITED
Corporate Identification Number: U27102WB2004PLC098699

Our Company was originally incorporated as "Kritika Wires Private Limited" on May 31, 2004 vide Registration no. 098699 (CIN: U27102WB2004PTC098699) under the provisions of the Companies Act, 1956 with the Registrar of Companies, West Bengal. Presently Registered office of our Company is situated at 1A. Bonfield Lane Mezanine Floor, Kolkata, West Bengal, India, 700001. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on April 05, 2018, our company was converted into a Public Limited Company and consequently the name of our Company was changed form "Kritika Wires Private Limited" to "Kritika Wires Limited" vide a fresh Certificate of Incorporation dated May 03, 2018 having CIN U27102WB2004PLC098699 issued by the Registrar of Companies, Kolkata.

Registered Office: 1A, Bonfield Lane Mezanine Floor, Kolkata- 700001, West Bengal, India
Tel No: +91 33 40037817 | E-mail: compliance@kritikawires.com | Website: www.kritikawires.com
CONTACT PERSON: MR. MAHESH KUMAR SHARMA (COMPANY SECRETARY & COMPLIANCE OFFICER)
PROMOTERS OF OUR COMPANY: MR. NARESH KUMAR AGARWAL, MR. HANUMAN PRASAD AGARWAL, ALLTIME SUPPLIERS PRIVATE LIMITED, RA COMPTECH INVESTMENT & CONSULTANT PRIVATE LIMITED, MOHTA AGENCIES PRIVATE LIMITED AND BALAJI ELECTRODES PRIVATE LIMITED
BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 48,12,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF KRITIKA WIRES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS. 32.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 22.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS. 1539.84 LAKHS ("ISSUE") OF WHICH 2,52,000 EQUITY SHARES OF FACE VALUE OF RS.10.00 EACH FOR A CASH PRICE OF RS. 32.00 PER EQUITY SHARE, AGGREGATING TO RS. 80.64 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 45,60,000 EQUITY SHARES OF FACE VALUE OF Rs.10.00 EACH AT AN ISSUE PRICE OF RS. 32.00 PER EQUITY SHARE AGGREGATING TO RS. 1459.20 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.11% and 25.69%, 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 292 OF THIS 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.

THE FACE VALUE OF THE EQUITY SHARES IS RS.10.00 EACH AND THE ISSUE PRICE IS RS.32.00 EACH.

THE ISSUE PRICE IS 3.2 TIMES OF THE FACE VALUE.

ISSUE OPENED ON: WEDNESDAY, SEPTEMBER 26, 2018 AND CLOSED ON MONDAY, OCTOBER 01, 2018

PROPOSED LISTING: OCTOBER 10, 2018*

The Equity Shares offered through Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE EMERGE"). Our Company has received an in-principle approval letter dated August 16, 2018 from NSE for using its name in this offer document for listing of our shares on the SME Platform of NSE ("NSE EMERGE"). For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced on or about October 10, 2018.*

*Subject to receipt of listing and trading approvals from the NSE.

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 350 applications for 78,40,000 Equity Shares resulting in 1.6293 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical & multiple rejections) are as follows:

Detail of the Applications Received (Before Technical & Multiple Rejection):

Category Number Of Applications % Number Of Equity Shares % Subscription (Times)
Market Maker 1 0.28 2,52,000 3.21 1.0000
Retail Individual Investors 267 76.29 10,68,000 13.62 0.4684
Other than Retail Individual Investors 82 23.43 65,20,000 83.17 2.8596
TOTAL 350 100.00 78,40,000 100.00

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 Maker Nil Nil
Retail Individual Investors 7 28,000
Other than Retail Individual Investors 2 2,32,000
TOTAL 9 2,60,000

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 2,52,000 2,52,000 100 1.00
TOTAL 1 100 2,52,000 2,52,000 100 1.00
Category No. of Applications % Reserved Portion (as per Prospectus) Proportionate Offer Size (After rounding off) Proportionate Shares Available (After Spill Over)* No. of Valid Shares applied % of Total Applied Subscription (Times)
Retail Individual Investors 260 76.47 22,80,000 22,80,000 10,40,000 10,40,000 14.19 0.4561
Other than Retail Individual Investors 80 23.53 22,80,000 22,80,000 35,20,000 62,88,000 85.81 1.7863*
TOTAL 340 100 45,60,000 45,60,000 45,60,000 73,28,000 100

* includes original reservation of 22,80,000 Equity shares and spill over of the unsubscribed portion from Retail Individual Investors Category of 12,40,000 Equity Shares.

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on October 05, 2018.

A. Allocation to Market Maker (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs.32 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 2,52,000 Equity shares.

The category wise details of the Basis of Allotment are as under:

No. of Shares Applied (or (Category wise) No. of Applications received % to Total Total No. of Equity Shares applied in this Category % of Total Proportinate 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 applicant (after rounding off) Total No. of Shares allocated/ allotted No. of Shares Surplus/ Deficit
2,52,000 1 100.00 2,52,000 100.00 2,52,000 2,52,000 2,52,000 1 1 1 2,52,000
TOTAL 1 100.00 2,52,000 100.00 2,52,000 1 2,52,000

B. Allocation to Retail Individual Investors (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.32 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 0.4561 times i.e. for 10,40,000 Equity Shares. Total number of shares allotted in this category is 10,40,000 Equity Shares to 260 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 Applicant: Ratio 1 Ratio of Allottees to Applicant: Ratio 2 Number of Successful applicant (after rounding off) Total No. of Shares allocated/ allotted No. of Shares Surplus/ Deficit
4000 260 100.00 10,40,000 100.00 10,40,000 8769.23 4000 1 1 260 10,40,000 -1240000
TOTAL 260 100.00 10,40,000 100.00 10,40,000 260 10,40,000 -1240000

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.32 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.7864 times i.e. for 62,88,000 shares. Total number of shares allotted in this category is 35,20,000 Equity Shares to 80 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 Applicant: Ratio 1 Ratio of Allottees to Applicant: Ratio 2 Number of Successful applicant (after rounding off) Total No. of Shares allocated/ allotted No. of Shares Surplus/ Deficit
8,000 5 6.25 40,000 0.64 22394 4478.80 4000 1 1 5 20000 -2394
8000 0.00 4000 1 5 4000 4000
20,000 2 2.50 40,000 0.64 22392 11196.00 12000 1 1 2 24000 1608
24,000 5 6.25 120,000 1.91 67176 13435.20 12000 1 1 5 60000 -7176
24000 0.00 4000 2 5 8000 8000
44,000 1 1.25 44,000 0.70 24631 24631 24000 1 1 1 24000 -631
48,000 6 7.50 288,000 4.58 161221 26870.17 24000 1 1 6 144000 -17221
48000 0.00 4000 2 3 16000 16000
64,000 1 1.25 64,000 1.02 35827 35827 36000 1 1 1 36000 173
76,000 2 2.50 152,000 2.42 85089 42544.50 40000 1 1 2 80000 -5089
76000 0.00 4000 1 2 4000 4000
88,000 1 1.25 88,000 1.40 49262 49262 48000 1 1 1 48000 -1262
100000 4 5.00 400000 6.36 223919 55979.75 56000 1 1 4 224000 81
116,000 1 1.25 116,000 1.84 64936 64936 64000 1 1 1 64000 -936
128,000 1 1.25 128,000 2.04 71654 71654 72000 1 1 1 72000 346
220,000 2 2.50 440,000 7.00 246310 123155 124000 1 1 2 248000 1690
280,000 1 1.25 280,000 4.45 156743 156743 156000 1 1 1 156000 -7.43
468,000 2 2.50 936,000 14.89 523969 261984.50 260000 1 1 2 520000 -3969
468000 0.00 4000 1 2 4000 4000
6,28,000 1 1.25 6,28,000 9.99 351552 351552 352000 1 1 1 352000 448
TOTAL 80 100.00 62,88,000 100.00 3520000 80 3520000 0

The Board of Directors of the Company at its meeting held on October 05,2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and at a meeting held on October 06, 2018 and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants. The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories on or before October 08, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount have been issued on October 06, 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 National Stock Exchange of India 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 meanings assigned to them in the Prospectus dated September 18, 2018 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, 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 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:

LINK INTIME INDIA PRIVATE LIMITED
C-101,1st Floor, 247 Park, LBS Marg, Vikhroli (West), Mumbai- 400083, Maharshtra, India
Tel. No.: +91 22 49186200 | Fax No.: +91 22 49186195
Website: www.linkintime.co.in; | Email: kritika.ipo@linkintime.co.in
Investor Grievance Email: kritika.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan | SEBI Regn. No. INR000004058
Registrar & Share Transfer Agent to the Company - Link Intime India Private Limited
For Kritika Wires Limited
For and on behalf of Board of Directors
Sd/
Hanuman Prasad Agarwal
Place: Kolkata Managing Director
Date: 08.10.2018 DIN:- 00654218

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUTY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF KRITIKA WIRES LIMITED.

Kritika Wires IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Kritika Wires IPO?

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

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

    Visit the Kritika Wires IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Kritika Wires IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Kritika Wires 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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