Orissa Bengal Carrier IPO Details

Issue Open Mar 22, 2018
Issue Close Mar 26, 2018
IPO Price ₹30
Face Value ₹10
IPO Size ₹16.69 Cr
Listing At BSE SME
IPO Lot Size 4000

ORISSA BENGAL CARRIER LIMITED
Corporate Identification Number: U63090CT1994PLC008732

Our Company was originally incorporated on October 18,1994 as Orissa Bengal Carrier Private Limited under the provisions of Companies Act, 1956 with Registrar of Companies. Madhya Pradesh. Gwalior. Our Company was converted into a Public Limited Company pursuant to Shareholders. Resolution passed at the Extra Ordinary General Meeting of the Company held on November 05, 2009 and the name of our Company was changed to 'Orissa Bengal Carrier Limited' vide a fresh Certificate of Incorporation dated December 09, 2009, issued by the Registrar of Companies. Madhya Pradesh and Chhattisgarh. For further details of our Company, please refer 'General information'and 'History and Certain Other Corporate Matter' on page numhers 40 and 97 respectively of the Prospectus.

Registered Office: Jiwan Bima Marg, Pandri Raipur-492001, India.
Tel.: +91-7714054518 | Email: cs@obclimited.com | Website: www.obclimited.com | Contact Person: Pooja Jain, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: RATAN KUMAR AGRAWAL SHAKUNTALA DEVI AGRAWAL AND MANOJ KUMAR AGRAWAL

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 55,64,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE 'EQUITY SHARES') OF ORISSA BENGAL CARRIER LIMNED ('OUR COMPANY' OR
'OBCL' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 30 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 20.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 1669.20 LAKHS ('THE ISSUE') OF WHICH 2,84,000 EQUITY SHARES AGGREGATING TO RS 85.20 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 52,80,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 30.00 PER EQUITY SHAHE AGGREGATING TO RS 1584.00 LAKHS IS HEREINAFTER REFERRED TO AS THE NET ISSUE', THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.39% AND 25.04%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY FOR FURTHER DETAILS PLEASE REFER TERMS OF THE ISSUE ON PAGE 178 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 WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009. AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 185 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND
THE ISSUE PRICE IS RS 30.00. THE ISSUE PRICE IS 3.00 TIMES OF THE FACE VALUE.

ISSUE OPENED ON THURSDAY, MARCH 22, 2018 AND CLOSED ON MONDAY, MARCH 26, 2018,

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE SME') in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. Our Company has received an approval letter dated March 14, 2018 from BSE Limited for using its name in the offer document for listing of our Shares on the BSE SME. The designated stock exchange is BSE Limited ('BSE'). The trading is proposed to be commenced on or about April 05, 2018*.

*Subject to receipt of listing and trading approvals From BSE 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 amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs')..

SUBSCRIPTION DETAILS

The Issue has received 927 applications for 63,32,000 Equity Shares (Before Technical Rejections but after invalid bids and bids not banked/blocked) (including Market Maker Application of 2,84,000 Equity Shares) resulting in 1.15 times subscription. After considering, a Technical Rejection case, the issue was subscribed 1.08 times (including the Market Maker Portion). The details of the applications received in the issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection):

Category Number of
Applications
% To
Total
No. of
Equity Shares
% To
Total
Subscription
(Times)
Market Maker 1 0.11 2,84,000 4.44 1.00
Retail Individual Investors 906 97.73 36,24,000 56.70 1.37
Other than Retail Individual Investors 20 2.16 24,84,000 38.86 0.94
TOTAL 927 100.00 63,92,000 100.00 1.15

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 9 36,000
Other than Retail Individual Investors 2 3,52,000
TOTAL 11 3,88,000

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Category Number of
Applications
% To
Total
Proportionate
Shares Available
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Market Maker 1 0.11 2,84,000 2,84,000 4.73 1.00
Retail Individual Investors 897 97.93 26,40,000 35,88,000 59.76 1.36
Other than Retail Individual Investors 18 1.97 26,40,000 21,32,000 35.51 0.81
TOTAL 916 100.00 55,64,000 60,04,000 100.00 1.08

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on April 02, 2018.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 30 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,84,000 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 30 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.36 tunes. Total number of shares allotted in this category is 33,12,000 Equity Shares to 828 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
% to
Total
Proportionate
Shares
Available
Allocation
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
(After
Rounding Off)
Ratio or
Allottees
to
Applicants
Number of
Successful
applicant (after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
4000 897 100 35,88,000 100 33,12,000 3692.31 4000 12:13 828 33,12,000 0
TOTAL 897 100 35,88,000 100 33,12,000 828 33,12,000 0

C. Allocation to Older than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue pice of Rs 30 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.81 times. Total number of shares allotted in this category is 19,68,000 Equity Shares to 18 successful applicants.

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 in this
Category
% to
Total
Proportionate
Shares
Available
Allocation
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
(After
Rounding Off)
Ratio or
Allottees
to
Applicants
Number of
Successful
applicant (after
rounding off)
Total No.
of Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
8000 3 16.67 24000 1.13 22154 7384.02 8000 1:1 3 24000 1846
20000 3 16.67 60000 2.81 55385 18461.54 16000 1:1 3 48000 -7385
20000 4000 2:3 8000 8000
32000 1 5.56 32000 1.50 29538 29538.46 29000 1:1 1 28000 -1538
60000 2 11.11 120000 5.63 110769 55384.62 56000 1:1 2 112000 1231
64000 1 5.56 64000 3.00 59077 59076.92 60000 1:1 1 60000 923
84000 1 5.56 84000 3.94 77538 77538.46 76000 1:1 1 76000 -1538
88000 1 5.56 88000 4.13 81231 81230.77 80000 1:1 1 80000 -1231
160000 1 5.56 160000 7.50 147692 147692.31 148000 1:1 1 148000 308
176000 1 5.56 176000 8.26 162462 162461.54 164000 1:1 1 164000 1538
240000 1 5.56 240000 11.26 221538 221538.46 22000 1:1 1 220000 -1538
252000 1 5.56 252000 11.82 232615 232615.38 232000 1:1 1 232000 -615
332000 1 5.56 332000 15.57 306462 306461.54 308000 1:1 1 308000 1538
500000 1 5.56 500000 23.45 461539 461538.46 460000 1:1 1 460000 -1539
TOTAL 18 100 2132000 100 1968000 18 1968000 0

The Board of Directors of the Company at its meeting held on April 02, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BBE and has authorized the corporate action for allotment of shares in dematrialized form to various successful applicants.

The CAN and allotment advice and/or rejection letters will be dispatch to the address of the Applicants as registered with the depositories / as filled in the application form on or before April 05, 2018. Further, the instructions to Self Certified Syndicate Banks being processed on April 03, 2018. In case the same is not received within Prescribed time, 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 BSE SME 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 March 15,2018 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.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 Registrar given below:

BlGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp, Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai-400059.
Tel. No.; +91 22-62638200 | fax No.; +91 22-6263 8299
Email: ipo@bigshareonline.com | Website: www.bigshareonline.com
Contact Person: Vipin Gupta | SEBI Registration No.: INR000001385

Place: Raipur
Date; April 03, 2010
For Orissa Bengal Carrier Limited
On behalf of the Board ol Directors
Sd/-
Ratan Kumar Agrawal
Managing Director

Orissa Bengal Carrier IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Orissa Bengal Carrier IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Orissa Bengal Carrier 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 Orissa Bengal Carrier IPO basis of allotment status?

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

    Visit the Orissa Bengal Carrier IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Orissa Bengal Carrier IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Orissa Bengal Carrier 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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