Medico Remedies IPO Details

Issue Open Jan 29, 2018
Issue Close Jan 31, 2018
IPO Price ₹100
Face Value ₹10
IPO Size ₹10.99 Cr
Listing At BSE SME
IPO Lot Size 1200

MEDICO REMEDIES LIMITED
CIN: U24230MH1994PLC077187

Our Company was originally incorporated as 'Medico Remedies Private Limited' on March 18,1994 under the Companies Act, 1956 with the Registrar of Companies, Mumbai bearing Registration No. 077187. The status of our Company was changed to a public limited company and the name of our Company was changed to 'Medico Remedies Limited'' by a special resolution passed on January 12,2017. A fresh Certificate of Incorporation consequent upon conversion was Issued on March 08,2017 by the Registrar of Companies, Mumbai. For further details pertaining to the change of name of our Company and the change in our Registered Office, please refer to the chapter titled 'History and Certain Corporate Matters' beginning on page no. 114 of the Prospectus.

Registered Office: 50, Juhu Supreme Shopping Center, Gulmohar Cross Road No. 9, Juhu, Mumbai - 400 049
Tel No.: +91 22 26701055/66; Fax No.: +91 22 26281059; Email: info@medicoremedies.com; Website: www.medicoremedies.com
Contact Person: Mr. Vipul Dubey, Company Secretary and Compliance Officer.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 10,99,200 EQUITY SHARES OF RS. 10 EACH ('EQUITY SHARES') OF MEDICO REMEDIES LIMITED ('MRL' OR THE 'COMPANY') FOR CASH AT PRICE OF RS. 100 PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS. 1,099.20 LAKHS ('THE ISSUE'), CONSISTING OF FRESH ISSUE OF 9,49,200 EQUITY SHARES AGGREGATING TO RS. 949.20 LAKHS AND AN OFFER FOR SALE OF 1,50,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS (THE 'SELLING SHAREHOLDERS') AGGREGATING TO RS. 150.00 LAKHS ('OFFER FOR SALE'); OF WHICH 57,600 EQUITY SHARES OF RS. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,41,600 EQUITY SHARES OF RS. 10 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.49% AND 25.10%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY

THE PACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND
THE ISSUE PRICE IS 10.00 TIMES OF THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the SME Platform of BSE Limited ('BSE'). Our Company has received an approval from BSE for the listing of the Equity Shares pursuant to letter dated November 03,2017. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading Is proposed to be commenced on February 08,2018 (Subject to receipt of listing and trading approvals from the BSE Limited). The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category shall be made as per Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Issue of Shares to the public shall be made available for allotment to Individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies /Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. 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 the Designation 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 the Issue only 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').

SUBSCRIPTION DETAILS

The Met Issue has received 1,074 applications for 16,35,600 Equity Shares resulting in 1.570 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received

Category Before Technical Rejections & Withdrawals After Technical Rejections & Withdrawals
No. of
Applications
No. of
Equity Shares
No. of
Applications
No. of
Equity Shares
Retail Individual Applicant 1,054 12,64 800 1037 12,44,400
Non-Retail Applicant 20 3,70,800 20 3,70,800
Total 1,074 16,36,600 1,057 16,15,200

Note: The Issue also includes 57,600 Equity Shares reserved for Market Maker, which was subscribed by 1.00 time and there were no Technical Rejection & any withdrawal.
In the event of oversubscription, the allotment will be made on a proportionate basis in marketable lots. There was over subscription of 1,32,000 Equity Shares in Non - Retail Category & over subscription 4,41,600 Equity Shares in Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Limited on February 05,2018.

A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 100 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 57,600 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
Shares applied
in each category
%
to
total
Allocation per
Applicant
Ratio of
Allottees to
the Applicants
Total No.
of Shares
allotted
57,600 1 100.00 57.600 100.00 57,600 1:1 57,600
Total 1 100.00 57,600 100.00 57,600

B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs. 100 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 8,02,800 Equity Shares. The category was subscribed by 1.550 times. 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
Allocation per
Applicant
Ratio of
Allottees to
the Applicants
Total No.
of Shares
allotted
1,200 1,037 100.00 12,44,400 100.00 1,200 669:1037 8,02,800
Total 1,037 100.00 12,44,400 100.00 8,02,800

C) Allocatiop to Non - Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs.100 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 2,38,800 Equity Shares. The category was subscribed by 1.553 times. 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
Allocation per
Applicant
Ratio of
Allottees to
the Applicants
Total No.
of Shares
allotted
2,400 4 20.00 9,600 2.59 1.200 11 4,800
2,400 (Lottery System - Serial No. of Qualifying Applicant is 4) 1,200 1:4 1,200
3,600 2 10.00 7,200 1.94 2,400 1:1 4,800
4,800 3 15.00 14,400 3.88 2,400 1:1 7,200
4,800 (Lottery System - Serial No. of Qualifying Applicant is 1,2) 1,200 2:3 2,400
6,000 1 5.00 6,000 1.62 3,600 1:1 3,600
8,400 5 25.00 42,000 11.33 4,800 1:1 24,000
8,400 (Lottery System - Serial No. of Qualifying Applicant is 1,2,5) 1,200 3:5 3,600
43,200 1 5.00 43,200 11.65 27,600 1:1 27,600
49.200 1 5.00 49,200 13.27 31,200 1:1 31,200
50,400 1 5.00 50,400 13.59 32,400 1:1 32,400
74,400 2 10.00 1,48,800 40.13 48,000 1:1 96,000
Total 20 100.00 3,70,800 100.00 2,38,800

The Board of Directors of the Company at its meeting held on February 06,2018 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and / or notices have been dispatched to the address of the investors as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks have been processed on or before February 07,2018 for unblocking of funds. The Equity Shares allotted 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 Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on February 08,2018, subject to receipt of listing and trading approvals from BSE Limited.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated January 16, 2018 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made has been hosted on the website of the. Registrar to the Issue, Cameo Corporate Services Limited at Website: www.cameoindia.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue 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 hadbeen lodged and payment details at the address given below:

CAMEO CORPORATE SERVICES LIMITED
Subramanian Building No. 1 .Club House Road, Chennai - 600 002
Tel No.: +91 44 2846 0390/1989 Fax No.: +91 44 2846 0129
Email: cameo@cameoindia.com Website: www.cameoindia.com
Contact Person: Mr. R. D.Ramasamy SEBI Registration No.: INR 000003753

Place: Mumbai -

Date: February 07,2018

For Medico Remedies Limited
On behalf of the Board of Directors
Sd/-
Managing Director

Medico Remedies IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Medico Remedies IPO?

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

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

    Visit the Medico Remedies IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Medico Remedies IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Medico Remedies 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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