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Narmada Agrobase IPO Details

Issue Open Mar 28, 2018
Issue Close Apr 11, 2018
IPO Price ₹32
Face Value ₹10
IPO Size ₹7.48 Cr
Listing At NSE SME
IPO Lot Size 4000

NARMADA AGROBASE LIMITED

CIN :U15494GJ2013PLC073468

Our Company was originally incorporated on January 29.2013 as *Narmada Agrobase Private Limited* vide Registration No. 073468/2012-2013 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat. Dadra and Nagar Havelli. Further. our Company was converted into Public Limited Company and consequently name of Company was changed from 'Narmada  Agrobase Private Lirnited' to 'Narmada Agrobase Lirnited' vide Special resolution passed by the Shareholders at the Extra Ordinary General Meeting held on December 05. 2017 and a fresh certificate of incorporation deted December 11,2017 issued by the Registrar of Companies, Ahmedabad. For further details please refer to chapter titled 'History and Certain Corporate Matters' beginning on page 103 of the Prospectus.

Registered Office: 613,/P-I IJ Pura (Jethaji) Dhanpura Road, Tal. Jotana. Mahesana -384421, Gujarat India
Corporate Office: 310, Sudarshan Complex. Mithakhali Underbridge. Navrangpura. Ahmedabad - 380009, Gujarat, India
Tel No: +91-79-4037 0886, E-mail: cs@narmadaagrobase.com. Website: www.narmadaagrobase.com

CONTACT PERSON: MRS. NIDHI JAIN. (COMPANY SECRETARY & COMPLIANCE OFFICER)
PROMOTER OF OUR COMPANY: MR. NEERAJKUMAR SURFJSHCHANDRA AGRAWAL AND MR. SURESH CHANDRA GUPTA

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 23,40,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (' EQUITY SHARES') OF NARMADA AGROBASE LIMITED ('OUR 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. 748.80 LAKHS ('ISSUE') OF WHICH 1,24,000 EQUITY SHARES OF FACE VALUE OF RS.10.00 EACH FOR A CASH PRICE OF RS. 32.00 PER EQUITY SHARE, AGGREGATING TO RS. 39.68 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 22,16,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH AT AN ISSUE PRICE OF RS, 32.00 PER EQUITY SHARE AGGREGATING TO RS. 709.12 LAKHS (IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE Wl LL CONSTITUTE 31.09% AND 29,44%, RESPECTlVELY 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 187 OF THE 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'SEBI ICDR REGULATIONS'), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC IS MADE IN TERMS OF REGULATION 43 (4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS. PLEASE REFER TO SECTION TTTLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 195 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH AND THE ISSUE PRICE IS RS. 32.00. THE ISSUE PRICE IS 3.2 TIMES OF THE FACE VALUE.

ISSUE OPENS ON: WEDNESDAY, MARCH 28, 2018 AND ISSUE CLOSES ON: WEDNESDAY, APRIL 11, 2018
PROPOSED LISTING: APRIL 19, 2018

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platfornn of National Stock Exchange of India Limited ('NSE')
i.e. 'NSE EMERGE'). Our Company has received an approval letter dated March 14, 2018 from NSE for using its name in the 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 comrnenced on or about April 19,20l8*.
*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.
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 amounte were blocked by Self Certified Syndicate Banks (the'SCSBs'),

SUBSCRIPTION DETAILS

The issue has received 389 applications for 2440000 Equity Shares resulting in 1.0427 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical relations) are as follows:
Detail of the Applications Received (Before Technical Rejection):

CATEGORY NUMBER OF
APPLICATIONS
% NUMBER OF
EQUITY SHARES
% SUBSCRIPTION
(TIMES)
Market Makers 1 0.26 124000 5.08 1.00
Retail Individual Investors 372 95.63 1488000 60.98 1.3430
Other than Retail Individual Investors 16 4.11 828000 33.94 0.7473
TOTAL 389 100.00 2440000 100.00 1.0427

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 Makers Nil Nil
Retail Individual Investors 12 48000
Other than Retail Individual Investors Nil Nil
Total 12 48000

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 124000 124000 100 1.00
Total 1 100 124000 124000 100 1.00
Category No. of
Applications
% Reserved
Portion (as per
Prospectus)
Proportionate
Issue Size
(Spilled over)
No. of
Valid Shares
applied
% of
Total
Applied
Subscription
(Times)
Retail Individual Investors 360 95.74 1108000 1388000 1440000 63.49 1.037464
Other than Retail Individual Investors 16 4.26 1108000 828000 828000 36.51 0.747292
Total 376 100.00 2216000 2216000 2268000 100.00 1.023466

ALLOCATION; The Basis of Allotment was finalized in consoltation with the Designated Stock Exchange - National Stock Exchange of India Limited on April 16, 2018.
A. Allocation to Market Maker (After Technical Rejections & 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 124000 Equity shares.
The category wise details of the Basis of Allotment are as under:

No. of Shares Applied
for
(Category
wise)
No. Of
Appli
cations
Recei
ved
%
to
Total
Total No.
of Equity Shares appl
ied in this Category
%
to
Total
Proporti
onate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
Appli
Cant: Ratio 1
Ratio of
Allottees
to
Appli
Cant:
Ratio2
Number of Successful
applicants
(after
rounding off)
Total No. of Equity
Shares
allocated/
allotted
No. of Shares Surplus
/Deficit
124000 1 100.00 124000 100.00 124000 124000 124000 1 1 1 124000 --
TOTAL 1 100.00 124000 100.00 124000 124000 124000 1 1 1 124000 --

B, Allocation to Retail Individual Investors (After Technical Rejections & 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 1.0375 times i.e. for 1440000 Equity Shares. Total number of shares allotted In this category Is 1388000 Equity Shares to 347 successful applicants.
The category wise details of the Basis of Allotment are as under:

No. of Shares Applied
for
(Category
wise)
No. Of
Appli
cations
Recei
ved
%
to
Total
Total No.
of Equity Shares appl
ied in this Category
%
to
Total
Proporti
onate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
Appli
Cant: Ratio 1
Ratio of
Allottees
to
Appli
Cant:
Ratio2
Number of Successful
applicants
(after
rounding
off)
Total No. of Equity
Shares
allocated/
allotted
No. of Shares Surplus
/Deficit
4000 360 100.00 1440000 100.00 1388000 3855.56 4000 27 T6 347 1388000 0.00
TOTAL 360 100.00 1440000 100.00 1388000 347 1388000 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 issue price of RS. 32 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 0.7473 times i.e. for 828000 shares the total number of shares allotted in this category is 828000 Equity Shares to 16 successful applicants.
The category wise details of the Basis of Allotment are as under:

No. of Shares Applied
for
(Category
wise)
No. Of
Appli
cations
Recei
ved
%
to
Total
Total No.
of Equity Shares appl
ied in this Category
%
to
Total
Proporti
onate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
Appli
Cant: Ratio 1
Ratio of
Allottees
to
Appli
Cant:
Ratio2
Number of Successful
applicants
(after
rounding
off)
Total No. of Equity
Shares
allocated/
allotted
No. of Shares Surplus
/Deficit
6000 5 31.25 40000 4.83 53527 8000.00 6000 1 1 5 40000 13527
12000 2 12.50 24000 2.90 32116 12000.00 12000 1 1 2 24000 8116
20000 1 6.25 20000 2.42 26763 20000.00 20000 1 1 1 20000 6763
28000 1 6.25 23000 3.38 37469 28000.00 28000 1 1 1 28000 9469
40000 1 6.25 40000 4.83 53527 40000.00 40000 1 1 1 40000 13527
44000 1 6.25 44000 5.31 58879 44000.00 44000 1 1 1 44000 14879
76000 1 6.25 76000 9.18 101700 76000.00 76000 1 1 1 76000 25700
80000 3 18.75 240000 28.99 321159 80000.00 80000 1 1 3 240000 81159
316000 1 6.25 316000 38.16 422860 316000.00 316000 1 1 1 316000 106860
TOTAL 16 100.00 8,28,000 100.00 11,08,000.00 16 8,28,000 2,80,000

The Board of Directors of the Company at its meeting held on April 16.2018 has approved the Basis of  Allocation of Equity Shares as approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and in meeting held on April 17.2018 has authorized the corporate action for issue of the Equity Shares to various successful applicant. The CAN-cum-Refund advices and allotment advice and/or notices will forwarded to the email id's and address of the Applicants as registered wiih the depositories / as filled in the application form on or before April 18. 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to April 18.2018. 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 heir beneficiary accounts subjed to validation of the account details with the depositories concemed. 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 at the issue.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 20,2018 ('Prospectus')


INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue, Karvy Computershare Private Limited at www.karsima.karvy.com. 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:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad-500 032, India
Tel No.: +91-040-6716 2222, Fax No.: +91-040-2343 1551
Email: einward.ris@karvy.com
Investor grievance e-mail: narmadaagrobase.ipo@karvy.com
Website: www.karisma karvy.com
Contact Person: Mr. M Murali Krishna
SEBI Regn. No.: INR000000221

Place: Ahmedabad

Date : 17.04.2018   

For NARMADA AGROBASE LIMITED
On behalf of the board of Directors
Sd/-
Neerajkumar Sureshchandra Agrawal
Chairman & Managing Director

DIN: 06473290

Narmada Agrobase IPO Basis of Allotment FAQs

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

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

Visit the Narmada Agrobase 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 Narmada Agrobase IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).