Laxmi Cotspin IPO Details

Issue Open Mar 17, 2017
Issue Close Mar 22, 2017
IPO Price ₹20
Face Value ₹10
IPO Size ₹9.60 Cr
Listing At NSE SME
IPO Lot Size 6000

LAXMI COTSPIN LIMITED
(CIN: U17120MH2005PLC156866)

Our Company was incorporated on October 07, 2005 as Mauli Cotspin Private Limited under the provisions of the Companies Act, 1956 with Certificate of Incorporation issued by the Registrar of Companies Maharashtra Mumbai on October 19,2005 with Registration Number 156866. Subsequently, the name of our Company was changed from Mauli Cotspin Private Limited to Laxmi Cotspin Private Limited and a Fresh Certificate of Incorporation was issued by the Registrar of Companies Maharashtra Mumbai on October 12,2007 bearing Corporate Identity Number (CIN) U17120MH2005PTC156866. Further, our Company was converted into a public limited company pursuant to special resolution passed at the Extra Ordinary General Meeting of our Company held on February 07, 2011 and the name of our Company was changed to Laxmi Cotspin Limited and a Fresh Certificate of Incorporation dated March 7, 2011 was issued by the Registrar of Companies Maharashtra Mumbai now bearing CIN U17120MH2005PLC156866. For details of changes in name and registered office of our Company, please refer to the section titled "History and Certain Corporate matters" beginning on page 105 of the Prospectus.

Registered Office: GUT No. 399, Samangaon- Kajla Road, in front of Meenatai Thakare Vridhashram, Samangaon, Jalna- 431203, Maharashtra, India.
Tele. No.: +91 2482-257295/257222/ 257444; Fax No.: +91 2482-257200; Contact Person: Ms. Pooja Vijay Potdar, Company Secretary & Compliance Officer
E-mail: complianceofficerlaxmicotspin@gmail.com; Website: www.laxmicotspin.com;

PROMOTERS OF THE COMPANY: MR. SANJAY RATHI, MR. SHIVRATAN MUNDADA,
MR. BHAVESH PATEL, MR. RAJESH BANSAL AND ASHVA MULTI TRADE PRIVATE LIMITED

BASIS OF ALLOTMENT

PUBLIC OFFER OF 48,00,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF LAXMI COTSPIN LIMITED ("LCL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 20 PER SHARE (THE "OFFER PRICE"), AGGREGATING TO RS 960.00 LAKHS ('THE OFFER"), OF WHICH, 2,40,000 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE OFFER (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION I.E. OFFER OF 45,60,000 EQUITY SHARES OF RS 20 EACH IS HEREINAFTER REFERRED TO AS THE "NET OFFER" THROUGH AN OFFER FOR SALE BY THE SELLING SHAREHOLDERS (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") AGGREGATING UP TORS -912.00 LAKHS ** (THE "OFFER"). THE OFFER AND THE NET OFFER WILL CONSTITUTE 27.99 % AND 26.59%, RESPECTIVELY OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE OFFER PRICE IS RS 20.00.
THE OFFER PRICE IS 2.0 TIMES OF THE FACE VALUE.
ISSUE OPENED ON FRIDAY, MARCH 17, 2017 AND CLOSED ON WEDNESDAY, MARCH 22, 2017.

The Equity Shares Offered through the Prospectus are proposed to be listed on the SME Platform of NSE. In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended and has received an approval letter dated November 18,2016 from NSE for using its name in this Offer Document for listing of our shares on the Emerge Platform of NSE. For the purpose of this Offer, the designated Stock Exchange will be the National Stock Exchange of India Limited ("NSE"). ("NSE EMERGE"). The trading is proposed to be commenced on or about March 31,2017, subject to receipt of listing and trading approvals from the NSE Limited.

The Offer is being made through the Fixed Price process wherein 50% of Net Offer of the Equity Share offered are reserved for allocation to Applicants below or equal to Rs 2.00 lakhs and the balance for higher amount Applications. The Offer comprises a Net Offer to Public of 45,60,000 Equity Shares of Rs 10 each ("the Net Offer"), and a reservation of 2,40,000 Equity Shares of Rs 10 each for subscription by the designated Market Maker ("the Market Maker Reservation Portion"). The Offer and the Net Offer will constitute 27.99% and 26.59%, respectively of the Post Offer Paid-up Equity Share Capital of the Company. Allocation to all categories shall be made on a proportionate basis subject to valid Applications received at the Offer Price. Under subscription, if any, in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and Designated Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All Investors shall participate in this Issue only through the Application 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").

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 3656 applications for 2,72,04,000 Equity Shares resulting in 5.67 times subscription (including reserved portion of market maker). The details of the applications received in the offer (before technical rejections) are as follows: Detail of the Applications Received (Before Technical Rejection):

CATEGORY NUMBER OF
APPLICATIONS
% NUMBER OF
EQUITY SHARES
% SUBSCRIPTION
(TIMES)
Market Makers 1 240000 1.00
Retail Individual Investors 3553 21318000 9.35
Other than Retail Individual Investors 102 5646000 2.48
TOTAL 3656 27204000 5.67

The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Market Makers Nil Nil
Retail Individual Investors 41 246000
Other than Retail Individual Investors 1 18000
TOTAL 42 264000

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 1 100.00 240000 240000 100.00 1.00
TOTAL 1 100.00 240000 240000 100.00 1.00
Category No. 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 3512 97.20 2280000 2280000 21072000 78.92 9.242
Other than Retail Individual Investors 101 2.80 2280000 2280000 5628000 21.08 2.468
Total 3613 100.00 4560000 4560000 26700000 100.00 5.85

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on March 28,2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the offer price of' Rs. 20/- 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 2,40,000 Equity shares.

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

No. of Shares
Applied for
(Category wise)
No. Of
Applicatioos
received
% to total Total No. of Equity
Shares applied in
this Category
% of
total
Proportionate
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
applicants (after rounding off)
Total No. of
Equity Shares
allocated/allotted
No. of Shares
Surplus/Deficit
240000 1 100.00 240000 100.00 240000 240000 240000 1 1 1 240000 0
TOTAL 1 100.00 240000 100.00 240000 240000 240000 1 1 1 240000 0

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. 20/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 9.24 times i.e. for 21072000 Equity Shares. Total number of shares allotted in this category is 2280000 Equity Shares to 380 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
% 0f
total
Proportionate
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
applicants (after
rounding off)
Total No. of
Equity Shares
allocated/allotted
No. of Shares
Surplus/Deficit
6000 3512 100.00 21072000 100.00 2280000 649.20 6000 4 37 380 2280000 0
TOTAL 3512 100.00 21072000 100.00 2280000 649.20 6000 4 37 380 2280000 0

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 20/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 2.47 times i.e. for 5628000 Equity Shares. Total number of shares allotted in this category is 2280000 Equity Shares to 97 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
Proportionate
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
applicants (after
rounding off)
Total No. of
Equity Shares
allocated/allotted
No. of Shares
Surplus/Deficit
12000 20 19.80 240000 4.26 97227 4861.35 6000.00 5 16 96000 -1227
18000 15 14.85 270000 4.80 109382 7292.13 6000.00 1 1 15 90000 -19382
24000 8 7.92 192000 3.41 77783 9722.88 12000.00 1 1 8 96000 18217
30000 9 8.91 270000 4.80 109382 12153.56 12000.00 1 1 9 108000 -1382
36000 5 4.95 180000 3.20 72921 14584.20 12000.00 1 1 5 60000 -12921
42000 6 5.94 252000 448 102090 17015.00 18000.00 1 1 6 108000 5910
48000 3 2.97 144000 2.56 58337 19445.67 18000.00 1 1 3 54000 -4337
54000 4 3.96 216000 3.84 87505 21876.25 24000.00 1 1 4 96000 8495
60000 8 7.92 480000 8.53 194456 24307.00 24000.00 1 1 8 192000 -2456
66000 2 1.98 132000 2.35 53475 26737.50 30000.00 1 1 2 60000 6525
72000 2 1.98 144000 2.56 58337 29168.50 30000.00 1 1 2 60000 1663
84000 3 2.97 252000 4.48 102090 34030.00 36000.00 1 1 3 108000 5910
90000 4 3.96 360000 6.40 145842 36460.50 36000.00 1 1 4 144000 -1842
102000 1 0.99 102000 1.81 41322 41322.00 42000.00 1 1 1 42000 678
108000 2 1.98 216000 3.84 87505 43752.50 42000.00 1 1 2 84000 -3505
120000 1 0.99 120000 2.13 48614 48614.00 48000.00 1 1 1 48000 -614
126000 1 0.99 126000 2.24 51045 51045.00 54000.00 1 1 1 54000 2955
228000 1 0.99 228000 4.05 92367 92367.00 90000.00 1 1 1 90000 -2367
240000 4 3.96 960000 17.06 388913 97228.25 96000.00 1 1 4 384000 -4913
246000 1 0.99 246000 4.37 99659 99659.00 102000.00 1 1 1 102000 2341
498000 1 0.99 498000 8.85 201748 201748.00 204000.00 1 1 1 204000 2252
TOTAL 101 100.00 5628000 100.00 2280000 97 2280000 0

The Board of Directors of the Company at its meeting held on March 28,2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and 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 will have forwarded to the address of the Applicants as registered with the depositories/ as filled in the application form on or before March 29,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to March 29, 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 March 09,2017 ("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
C101,247 Park, L.B.S.Marg, Vikhroli (West), Mumbai -400083
Tel: +912249186200; Fax: +912249186060
Website: www.linkintime.co.in, Email: laxmicotspin.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration No: INR000004058

Place: Mumbai
Date: 29.03.2017
For Laxmi Cotspin Limited
On behalf of Board of Directors
Sd/-
Company Secretary and Compliance Officer

Laxmi Cotspin IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Laxmi Cotspin IPO?

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

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

    Visit the Laxmi Cotspin IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Laxmi Cotspin IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Laxmi Cotspin 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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