Lancer Container IPO Details

Issue Open Mar 31, 2016
Issue Close Apr 5, 2016
IPO Price ₹12
Face Value ₹10
IPO Size ₹1.85 Cr
Listing At BSE SME
IPO Lot Size 10000

LANCER CONTAINER LINES LIMITED

Our Company was originally incorporated as 'Lancer Container Lines Private Limited' at Navi Mumbai, Maharashtra as a private limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 7,2011 bearing Corporate Identification Number 'U74990MH2011PTC214448' issued by Registrar of Companies, Maharashtra at Mumbai. Subsequently, our Company was converted into public limited Company vide Fresh Certificate of Incorporation dated July 16,2015 and the name of our Company was changed to lancer Container Lines Limited'. The Corporate Identification Number (CIN) of our Company is 'U74990MH2011PLC214448'. For details of Incorporation, Change of Name and Registered Office of our Company, please refer to chapter titled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 60 and 149 respectively of this Prospectus.

Registered Office: 26/27, Arenja Tower CHS Ltd, Plot No: 49/50/51, Sector -11, CBD Belapur, Navi Mumbai - 400614, Maharashtra, India Tel. No.: +91 22 27566940/41/42; Fax No.: +91 22 27566939; E-mail: secretarial@lancermarine.in; Website: www.lancermarine.in; Corporate Identity Number: U74990MH2011PLC214448; Contact Person: Ms. Nirall Mehta, Company Secretary and Compliance Officer
PROMOTER OF OUR COMPANY - ABDUL KHALIK CHATAIWALA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 15,40,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF LANCER CONTAINER LINES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 12 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS.2 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS.184.80.00 LAKHS ("THE ISSUE"), OF WHICH 80,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 12 PER EQUITY SHARE, AGGREGATING RS. 9.60 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 14,60,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 12 PER EQUITY SHARE, AGGREGATING RS. 175.20 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.97% AND 25.57% RESPECTIVELY OFTHE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated March 23,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein
a) A minimum of 50% of the Net Offerto 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 allotment to i) individual applicants other than 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 regard, specific attention of the investors is invited to chaptertitled 'Issue Procedure' on page 248 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10 EACH. THE ISSUE PRICE IS RS. 12.00. THE ISSUE PRICE IS 1.2 TIMES OF THE FACE VALUE. ISSUE OPENED ON MARCH 31,2016 AND CLOSED ON APRIL 5,2016.

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 is not required to obtain an in-principle approval for the shares being offered in this Issue. However, the Company has received an approval letter dated March 23,2016 from BSE for using its name in the Prospectus for listing of our Shares on SME platform of BSE. The designated stock exchange is SME platform of BSE.

SUBSCRIPTION DETAILS

The Issue has received 409 applications for 55,50,000 Equity shares (including Market Maker Application of 80,000 Equity Shares) resulting 3.60 times subscription. After considering, Technical/ Multiple Rejection cases, the issue was subscribed 3.58 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 80,000 1.00
Other than Retail Individual Investor's 29 16,80,000 2.30
Retail Individual Investor's 379 37,90,000 5.19
TOTAL 409 55,50,000

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 3 30,000
TOTAL 3 30,000

Detail of the Applications Received (After Technical Rejection):

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES SUBSCRIPTION REVISED SUBSCRIPTION
Market Maker 1 80,000 1.00 1.00
Other than Retail Individual Investor's 29 16,80,000 2.30 3.73
Retail Individual Investor's 376 37,60,000 5.15 3.72
TOTAL 406 55,20,000

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on April 8,2016.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 12/- 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 80,000 Equity shares in full out of reserved portion of 80,000 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. 12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 3.72 times. Total number of shares allotted in this category is 10,10,000 Equity Shares. The cateaorv wise detail of 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)
10,000 376 100 37,60,000 100 10,10,000 2686.17 10,000 18:67 10,10,000 0
TOTAL 376 100 37,60,000 100 10,10,000 10,10,000 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 12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 3.73 times. Total number of shares allotted in this category is 4.50,000 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)
20,000 11 37.93 2,20,000 13.10 58,950 5,357.14 10,000 6:11 60,000 1,071
30,000 2 6.90 60,000 3.57 16,071 8,035.71 10,000 1:1 20,000 3,929
40,000 4 13.79 1,60,000 9.52 42,857 10,714.29 10,000 1:1 40,000 -2,857
50,000 2 6.90 1,00,000 5.95 26,786 13,392.86 10,000 1:1 20,000 -6,786
80,000 3 10.34 2,40,000 14.29 64,286 21,428.57 20,000 1:1 60,000 -42,86
90,000 2 6.90 1,80,000 10.71 48,214 24,107.14 20,000 1:1 40,000 -8,214
90,000 10,000 1:2 10,000 10,000
1,00,000 1 3.45 1,00,000 5.95 26,786 26,785.71 30,000 1:1 30,000 3,214
1,20,000 2 6.90 2,40,000 14.29 64,286 32,142.86 30,000 1:1 60,000 -4,286
1,70,000 1 3.45 1,70,000 10.12 45,536 45,535.71 50,000 1:1 50,000 4,464
2,10,000 1 3.45 2,10,000 12.50 56,249 56,250.00 60,000 1:1 60,000 3,751
Grand Total 29 100 16,80,000 100 4,50,021 4,50,000

The Board of Directors of the Company at its meeting held on April 9,2016 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 are being dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on or before April 12,2016. Further, the instructions to SCSBs have been issued on April 9,2016 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 April 13,2016 subject to receipt of listing and trading approvals from BSE.

CORRIGENDUM

Under Chapter'Objects of the Issue' appearing of the page 90 of the Prospectus, para with respect to 'Issue related Expenses' on page 91 following lines shall be added after the end of the para.
The Application collecting Intermediary will be entitled to the commission as mentioned herein:
• SCSBs will be entitled to a processing fee of Rs. 10/- per Application Form for processing of the Application Forms procured by other Application Collecting Intermediary and submitted to them.
• Selling Commission payable to registered broker, SCSBs, RTAs, CDPs on the portion directly procured from Retail Individual Applicants and Non Institutional Applicants, would be 0.01 % on the Allotment Amount* or Rs. 100/- whichever is less on the Applications wherein shares are allotted.
• The Commissions and processing fees shall be payable within 30 working days post the date of receipt of final invoices of the respective intermediaries
• * Amount Allotted is the product of the number of Equity Shares Allotted and the Issue Price
The above is required to be read in conjunction with the Prospectus, the Advertisements, Application Forms and the abridged prospectus, as amended to the extent stated hereinabove The Company had mentioned on page 84 of the Prospectus that in terms of SEBI Listing Regulations, Company shall ensure that the Equity Shares held by the Promoter/ members of the Promoter Group shall be dematerialized prior to listing of equity shares. However certain shareholders belonging to the promoter group are still in process of getting their shares converted into dematerialized form and will complete the same at the earliest.
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
E/2, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (East), Mumbai 400 072.
Tel.: +91-22-40430200; Fax: +91-22-28475207; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com Contact Person: Mr. Babu Raphael; SEBI Registration No.: INR000001385

Date: April 9,2016
Place: Mumbai, Maharashtra

For Lancer Container Lines Limited
On behalf of the Board of Directors
Sd/-
Abdul Khalik Chataiwala
Chairman & Managing Director

Lancer Container IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Lancer Container IPO?

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

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

    Visit the Lancer Container IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Lancer Container IPO allotment process?

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

Comments

   I Like It. | Report Abuse








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App