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Parin Furniture IPO Details

Issue Open Sep 26, 2018
Issue Close Sep 28, 2018
IPO Price ₹63
Face Value ₹10
IPO Size ₹18.90 Cr
Listing At NSE SME
IPO Lot Size 2000
PARIN FURNITURE LIMITED
Corporate Identity Number: U36101GJ2006PLC049074

Our Company was originally incorporated as "Parin Furniture Private Limited" on September 12, 2006 vide Registration no. 049074 (CIN: 1136101GJ2006PTC049074) under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat Dadra & Nagar Havelli. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on March 17, 2018, our company was converted into a Public Limited Company and the name of our Company was changed to "Parin Furniture Limited" vide a fresh Certificate of Incorporation dated April 04, 2018 bearing CIN U36101GJ2006PLC049074 issued by the Registrar of Companies, Ahmedabad, Gujarat For further details please refer to chapter titled "History and Certain Corporate Matters" beginning on page 145 of the Prospectus.

Registered Office: Plot No. 6, Revenue Survey No. 149, National Highway, at Vavdi, Gondal Road, Rajkot, Gujarat - 360 004, India.
Tel. No.: +91-281-3300777 | Fax No.: +91-281-3063000 | Email: cs@parinfurniture.com | Website: www.parinfurniture.com
Company Secretary and Compliance Officer: Ms. Krishna Subhashchandra Lodhiya

OUR PROMOTERS: MR. UMESH DHIRAJLAL NANDANI, MR. DEVEN DIPESH NANDANI AND MR. PARIN UMESHBHAI NANDANI
BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 30,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES"), AT AN ISSUE PRICE OF RS 63 PER EQUITY SHARE FOR CASH, AGGREGATING TO RS 1890.00 LAKHS ["PUBLIC ISSUE"] OUT OF WHICH 1,60,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH, AT AN ISSUE PRICE OF RS 63 PER EQUITY SHARE FOR CASH, AGGREGATING TO RS 100.80 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 28,40,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH, AT AN ISSUE PRICE OF RS 63 PER EQUITY SHARE FOR CASH, AGGREGATING TO RS 1789.20 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE CONSTITUTE 26.98% AND 25.54% RESPECTIVELY OF THE POSTISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THE ISSUE PRICE IS 6.30 TIMES OF THE FACE VALUE.
BID / ISSUE PROGRAMME OPENED ON: WEDNESDAY SEPTEMBER 26, 2018
CLOSED ON: FRIDAY, SEPTEMBER 28, 2018
PROPOSED LISTING: TUESDAY, OCTOBER 09, 2018

LISTING: The Equity Shares of our Company offered through the Red Herring Prospectus are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited ("NSE") in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time. Our Company has received in- principle approval letter dated June 26, 2018 from NSE for using its name in the offer document for listing our shares on the Emerge Platform of NSE. For the purpose of this Issue, the Designated Stock Exchange will be NSE.

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 was subscribed to the extent of 2.3200 times (including Market Maker reservation portion) as per the application data before considering invalid bids, bids not banked and technical rejections.

The issue has received 1864 applications for 61,86,000 Equity Shares resulting in 2.062 times subscription (including reserved portion of market maker). The details of applications received in the issue (before technical rejections and after considering invalid bids and bids not banked) are as follows:

Detail of the Applications Received (Before Technical Rejection):

Category Number of Application(s) % to Total Number of Equity Shares % to Total Subscription (Times)
Market Maker 1 0.05 1,60,000 2.59 1.00
Retail Individual Bidders 1768 94.85 35,36,000 57.16 3.56
Qualified Institutional Bidders 1 0.05 2,84,000 4.59 1.00
Non Institutional Bidders 94 5.05 22,06,000 35.66 1.41
TOTAL 1864 100.00 61,86,000 100.00 2.062

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 Bidders 19 38,000
Qualified Institutional Bidders Nil Nil
Non Institutional Bidders Nil Nil
TOTAL 19 38,000

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

Category Number of Applications % to Total No. of Equity Share available for allocation (as per Prospectus) Proportionate Issue Size (After rounding off) No. of Valid Shares applied % of Total Applied Subscription (Times)
Market Maker 1 0.05 1,60,000 1,60,000 1,60,000 2.60 1.00
Retail Individual Bidders 1749 94.80 9,94,000 9,94,000 34,98,000 56.90 3.5191
Qualified Institutional Bidders 1 0.05 2,84,000 2,84,000 2,84,000 4.62 1.00
Non Institutional Bidders 94 5.10 15,62,000 15,62,000 22,06,000 35.88 1.4123
TOTAL 1845 100.00 30,00,000 30,00,000 61,48,000 100.00 2.049

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on October 04, 2018.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of RS 63.00 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1 time. The total number of shares allotted in this category is 1,60,000 Equity shares.
B. Allocation to Retail Individual Bidders (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Bidders, at the issue price of RS 63.00 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 3.5191 times i.e. for 34,98,000 Equity Shares. Total number of shares allotted in this category is 9,94,000 Equity Shares to 497 successful applicants.

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

Sr. No. No. of Shares applied for (Category wise) Number of applications received % to total Total No. of Shares applied in each category % to total Proportionate shares available Allocation per Applicant Ratio of allottees to applicants Number of successful applicants (after rounding) % to total Total No. of shares allocated/ allotted % to total Surplus/ Deficit
Before rounding off After rounding off
1 2,000 1749 100.00 34,98,000 100.00 9,94,000 568.32 2,000 497 1749 497 100.00 9,94000 100.00 0
GRAND TOTAL                   497 100.00 9,94000 100.00 0

C. Allocation to Qualified Institutional Bidders (After Technical Rejections & Withdrawal): The Basis of Allotment to the Qualified Institutional Bidders, at the issue price of RS 63.00 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time i.e. for 2,84,000 Equity shares. The total number of shares allotted in this category is 2,84,000 Equity Shares to 1 successful applicant.

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

Sr. No. No. of Shares applied for (Category wise) Number of applications received % to total Total No. of Shares applied in each category % to total Proportionate shares available Allocation Per Applicant Ratio of allottees to applicants Number of successful applicants (after rounding) % to total Total No. of shares allocated/ allotted % to total Surplus/ Deficit
Before rounding off Alter rounding off
1 2,84,000 1 100.00 2,84,000 100.00 2,84,000 2,84,000 2,84,000 1 1 1 100.00 2,84,000 100.00 0
GRAND TOTAL                       2,84,080 100.00 0

D. Allocation In Non Institutional Bidders (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Institutional Bidders, at the issue price of RS 63.00 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.4123 times i.e. for 22,06,000 Equity shares. The total number of shares allotted in this category is 15,62,000 Equity Shares to 94 successful applicants.

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

Sr. No. No. of Shares applied for (Category wise) Number of applications received % to total Total No. of Shares applied in each category % to total Proportionate shares available Allocation per Applicant Ratio of allottees to applicants Number of successful applicants (after rounding) % to total Total No. of shares allocated/ allotted % to total Surplus/ Deficit
Before rounding off After rounding off
1 4000 54 57.45 216000 9.79 152943 2832.28 2000 1 1 54 57.45 108000 6.91 44943.00
                2000 23 54     46000 2.94 -46000.00
2 6000 10 10.64 60000 2.72 42484 4248.40 4000 1 1 10 10.64 40000 2.56 2484.00
                2000 1 10     2000 0.13 -2000.00
3 8000 7 7.45 56000 2.54 39652 5664.57 4000 1 1 7 7.45 28000 1.79 11652.00
                2000 6 7     12000 0.77 -12000.00
4 12000 3 3.19 36000 1.63 25490 8496.67 8000 1 1 3 3.19 24000 1.54 1490.00
                2000 1 3     2000 0.13 -2000.00
5 14000 2 2.13 28000 1.27 19826 9913.00 10000 1 1 2 2.13 20000 1.28 -174.00
6 16000 1 1.06 16000 0.73 11329 11329.00 12000 1 1 1 1.06 12000 0.77 -671.00
7 18000 1 1.06 18000 0.82 12745 12745.00 12000 1 1 1 1.06 12000 0.77 745.00
8 20000 4 4.26 80000 3.63 56646 14161.50 14000 1 1 4 4.26 56000 3.59 646.00
9 30000 2 2.13 60000 2.72 42484 21242.00 20000 1 1 2 2.13 40000 2.56 2484.00
                2000 1 2     2000 0.13 -2000.00
10 32000 3 3.19 96000 4.35 67975 22658.33 22000 1 1 3 3.19 66000 4.23 1975.00
                2000 1 3     2000 0.13 -2000.00
11 40000 2 2.13 80000 3.63 56646 28323.00 28000 1 1 2 2.13 56000 3.59 646.00
12 62000 1 1.06 62000 2.81 43900 43900.00 44000 1 1 1 1.06 44000 2.82 -100.00
13 80000 1 1.06 80000 3.63 56645 56645.00 56000 1 1 1 1.06 56000 3.59 645.00
14 158000 1 1.06 158000 7.16 111875 111875.00 112000 1 1 1 1.06 112000 7.17 -125.00
15 160000 1 1.06 160000 7.25 113291 113291.00 114000 1 1 1 1.06 114000 7.30 -709.00
16 1000000 1 1.06 1000000 45.33 708069 708069.00 708000 1 1 1 1.06 708000 45.33 69.00
GRAND TOTAL 94 100 2206000 100 1562000         94 100 1562000 100 0

The Board of Directors of the Company at its meeting held on October 04, 2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before October 08, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or before October 05, 2018.ln case the same is not received within 6 days from the date of closure of the issue, 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 EMERGE Platform of National Stock Exchange of India Limited 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 October 01, 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.karisma.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.:- +91 40 6716 2222 | Fax.:- +91 40 2343 1551 | Email:- einward.ris@karvy.com
Investor Grievance Email: parinfurniture.ipo@karvy.com | Contact Person: Mr. M Murali Krishna
Website: www.karisma.karvy.com | SEBI Registration No.: INR0000002211 CIN: U72400TG2003PTC041636
For Parin Furniture Limited
On Behalf of the Board of Directors
Place: Rajkot Sd/-
Date: October 04, 2018 Company Secretary and Compliance Officer

Parin Furniture IPO Basis of Allotment FAQs

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

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

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