Pansari Developers IPO Details

Issue Open Sep 30, 2016
Issue Close Oct 6, 2016
IPO Price ₹22
Face Value ₹10
IPO Size ₹10.19 Cr
Listing At NSE SME
IPO Lot Size 6000

PANSARI DEVELOPERS LIMITED
CIN No.: U72200WB1996PLC079438

Our company was originally incorporated as Pansari Developers Private Limited on April 22,1996 as a private limited company under the provision of Companies Act 1956 with Registrar of Companies. West Bengal. Further, pursuant to Special resolution passed by the Shareholders, at the Extra Ordinary General Meeting held on June 06,2016 our Company was converted into a Puhhc Limited Company and: consequently the name of our Company was changed to Pansari Developers Limited. A fresh certificate of incorporation pursuant to the change of name was Issued by the Regstrar of Companies, Kolkata, on June 21, 2016. For further details please refer to chapter tiled "History and Certain Corporate Matters" beginning on page 131 of the Prospectus,

Registered Office: 14, N.S. Road. 4th floor, Kolkata, West Bengal-700001. India. | Tel No.: +91-033-40050500/04. | Fax No.: +91 -033-22316158
Email: info@pansaridevelopers.com   | Website: www.pansaridevelopers.com Contact Person: Mr. Kushal Jain (Company Secretary & Compliance officer)
PROMOTERS OF OUR COMPANY: MR. MAHESH KUMAR AGARWAL MAHESH KUMAR AGARWAL HUF AND DINESH KUMAR AGARWAL HUF

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 46,32,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF PANSARI DEVELOPERS LIMITED ("OUR COMPANY"' OF "THE ISSUER") FOR CASH AT A PRICE OF RS 22 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 12 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS 1019.04 LAKHS ("THE ISSUE"), OF WHICH 2,40,000 EQUITY SHARES OF FACE VALUE OF RS  10.00 EACH FOR CASH PRICE OF RS 22 PER EQUITY SHARE, AGGREGATING TO RS 52.80 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 43,92 ,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 22 PER EQUITY SHARE AGGREGATING TO RS 966.24 LAKHS (IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.55% AND 25.17%. RESPECTIVELY 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 262 OF THE PROSPECTUS. THIS ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULAT10NS,2009, AS AMENDED FROM TIME TO TIME (THE "SEBI ICDR REGULATIONS"). FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "ISSUE RELATED INFORMATION " BEGINNING ON PAGE 262 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS  10.00 EACH AND THE ISSUE PRICE IS RS 22
THE ISSUE PRICE IS 2.2 TIMES OF THE FACE VALUE
ISSUE OPENED ON FRIDAY, SEPTEMBER 30, 2016 AND CLOSED ON THURSDAY, OCTORER 06, 2016.
PROPOSED LISTING: MONDAY, OCTOBER 17, 2016

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE") ("NSE EMERGE") in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, we are not required to obtain an in-principle listing approval for the shares being offered in this issue.However, our Company has received an approval letter dated September 22, 2016 from NSE for using its name in this offer document for listing of our shares on the SME Plaflorm of NSE. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. ("NSE EMERGE"). The trading is proposed to be commenced on or about October 17, 2016.*

* 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 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 537 applications for 71,94,000 Equity Shares resulting in 1.55 times subscription (including reserved portion of market maker). The details of  the applications received in the issue (before technical rejections) are as follows:

Detail of the Application Received (Before technical Rejection):

Category No. of
Applications
% No.  of
Equity Shares
% Subscription
Times
Market Maker 1 0.19 240,000 3.34 1.00
Retail Individual Investors 504 93.85 3,024,000 42.03 1 38
Other than Retail Individual Investors 32 5.96 3,930,000 54.63 1.79
TOTAL 537 100 71,94,000 100

The Detail of applications rejected by the Registrar on Technical Grounds are detailed below:

Category No. of
Applications
No.  of
Equity Shares
Market Makers Nil Nil
Retail Individual investors 14 84,000
Other than Retail Individual investors 1 24,000
Total 15 1,08,000

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 2,40,000 2,40,000 100 1.00
Total 1 100 2,40,000 2,40,000 100 1.00
Category No. of
Applications
% Reserved Portion
(as per prospectus)
Proportionale Issue
Size ( After rounding oil]
No. of valid
shares applied
% of
total Applied
Subscription (Times)
Retail Individual investors 490 94.05 21,96,000 21,96,000 29,40,000 42.94 1.34
Other than Retail Individual investors 31 5.95 21,96,000 21,96,000 39,06,000 57.06 1.78
Total 521 100 43,92,000 43,92,000 68,46,000 100

Allocation. The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on October 13, 2016

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 22 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
Appli
cations
received
% to
Total
Total No.
of Equity
Shares
applied in
this Category
% of
total
Proporti
note
Shares
Available
Allocalion
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
After
Rounding of)
Ratio of
Allottees
to Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant.
Ratio 2
Number of
Successful
applicants
(after
rounding off)
Tolat No.
Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
2,40,000 1 100.00 2,40,000 100.00 2.40.000 2,40,000 2.40,000 1 1 1 2,40,000 --
TOTAL 1 100.00 2,40,000 100.00 2,40,000 2,40,000 2,40,000 1 1 1 2,40,000 --

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 22 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.34 times i.e. for 29,40,000 Equity shares Total number of shares allotted in this category is 21,96,000 Equity Shares to 366 successlul applicants.

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

No. of
Shares
Applied for
(Category
wise)
No. Of
Appli
cations
received
% to
Total
Total No.
of Equity
Shares
applied in
this Category
% of
total
Proporti
note
Shares
Available
Allocalion
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
After
Rounding of)
Ratio of
Allottees
to Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant.
Ratio 2
Number of
Successful
applicants
(after
rounding off)
Tolat No.
Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
6000 490 100.00 29,40,000 100.00 21,96,000 4481.63 6000 41 55 366 21,96,000 --
TOTAL 490 100.00 29,40,000 100.00 21,96,000 4481.63 6000 41 55 366 21,96,000 --

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 22 per Equity Share, was finalized in consultation with national Stock Exchange of India Limiled. The category was subscribed by 1.78 times i.e. for 39,06,000 shares the total number of shares allotted in this category is 21,96,000 Equity Shares to 31 successlul applicants.

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

No. of
Shares
Applied for
(Category
wise)
No. Of
Appli
cations
received
% to
Total
Total No.
of Equity
Shares
applied in
this Category
% of
total
Proporti
note
Shares
Available
Allocalion
per Applicant
(Before
Rounding Off)
Allocation
per Applicant
After
Rounding of)
Ratio of
Allottees
to Appli
Cant:
Ratio 1
Ratio of
Allottees
to Appli
Cant.
Ratio 2
Number of
Successful
applicants
(after
rounding off)
Tolat No.
Equity
Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
1200O 4 12.90 48000 1.23 26987 6746.50 6000.00 1 1 4 24000 -2987
18000 4 12.90 72000 1.84 40479 10119.75 6000.00 1 1 4 24000 -16479
18000 6000.00 3 4 0 18000 18000
24000 1 3.23 24000 0.61 13493 13493.00 12000.00 1 1 1 12000 -1493
30000 2 6.45 60000 1.54 33733 16866.50 18000 00 1 1 2 36000 2267
42000 1 3.23 42000 1.08 23613 23613.00 24000 00 1 1 1 24000 387
48000 2 6.45 96000 2.46 53972 26986.00 24000.00 1 1 2 48000 -5972
60000 1 3.23 60000 1.54 33733 33733.00 36000 00 1 1 1 36000 2267
72000 1 3.23 72000 1.84 40479 40479.00 42000.00 1 1 1 42000 1521
90000 1 3.23 90000 2.30 50599 50699.00 48000.00 1 l 1 48000 -2599
96000 1 3.23 96000 2.46 53972 53972.00 54000.00 1 1 1 54000 28
180000 1 3.23 180000 4.61 101198 101198.00 102000.00 1 1 1 102000 802
192000 1 3.23 192000 4.92 107945 107945.00 108000.00 1 1 1 108000 55
222000 1 3.23 222000 5.68 124811 124811.00 126000.00 1 1 1 126000 1189
246000 8 25.81 1968000 50.38 1106433 138304.13 138000 00 1 1 8 1104000 -2433
294000 1 3.23 294000 7.53 165290 165290.00 168000.00 1 1 1 168000 2710
390000 1 3 23 390000 9 98 219263 219263.00 222000.00 1 1 1 222000 2737
TOTAL 31 100.00 39,06,000 100.00 21,96,000 31 21,96,090 0

The Board of Directors of the Company at its meeting held on October 13, 2016 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 be dispatched to the address of the Applicants as registered with the depositories. / as filled in the application form on or before October 14, 2016. Further, the instructions to Self Certified syndicate for unblocking the amount have been processed on or prior to october 14, 2016. In case the same is not unblocked 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 issue.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated Sepiember 22, 2016 ("Prospectus")

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue, 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 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:

LINK INTIME INDIA PRIVATE LIMITED
C-13. Pannalal Silk Mills Compound. L. B.S. Marg, Bhandup (West), Mumbai 400 078. Maharashtra, India.
Tel: +91-22-61715400: Fax: +91-22-25060329; Website: www.linkintime.co.in ; Email: pdl.ipo@linkintime.co.in
Investor Grievance Email: pdl.ipo@linkintime.co.in: Contact Person. Ms. Shanti Gopalkrihnan
SEBI Registration No.: IINR000004058

Place : Kolkata
Date : 13.10.2016
For Pansari Developers Limited
On behalf of the Board of Directors
Sd/-
Mr. Mahesh Kumar Agarwal
Chairman & Managing Director

Pansari Developers IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Pansari Developers IPO?

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

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

    Visit the Pansari Developers IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Pansari Developers IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Pansari Developers 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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