Polymac Thermoformers IPO Details

Issue Open Feb 6, 2014
Issue Close Feb 10, 2014
IPO Price ₹35
Face Value ₹10
IPO Size ₹7.70 Cr
Listing At BSE SME
IPO Lot Size 4000

POLYMAC THERMOFORMERS LIMITED

Our Company was originally incorporated in Kolkata as 'Polymac Thermoformers Private Limited' on 17th December, 1999 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Kolkata, West Bengal. Our Company was converted in to a public limited company and consequently name was changed to 'Polymac Thermoformers Limited' vide fresh certificate of incorporation dated 26th August, 2013 issued by the Registrar of Companies, Kolkata, West Bengal. For further details in relation to the changes to the name of our Company, please refer to the section titled 'Our History and Corporate Structure' beginning on page 66 of the Prospectus.

Registered office & Corporate Office: 29A, Weston Street, 3rd Floor, Room no. C5, Kolkata-700012;
Tel: 91 -33- 40041400; Email: polymacthermo@gmail.com; Website: www.polymacthermoformers.com;
Contact Person & Compliance Officer Mr. Anuj Jalan, Company Secretary & Compliance Officer: PROMOTERS OF THE COMPANY: MB. PUSPJEET KUMAR & M/S. YADUKA COACHING CENTRE PVT. LTD.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 22,00,000 EQUITY SHARES OF RS. 10/- EACH ('EQUITY SHARES') OF POLYMAC THERMOFORMERS LIMITED ('PTL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 35/- PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS. 770.00 LACS ('THE ISSUE'), OF WHICH, 1,20,000 EQUITY SHARES OF RS.10/-EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 20,80,000 EQUITY SHARES OF RS.10/- EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 46.01% AND 43.50%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated 8th January, 2014 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be made available to shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies / institutions irrespective of no. of shares applied for. The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall / may be made available for allocation in any other category, if so required.
Explanation: for the purpose of Regulation 43 (4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE IS RS. 35 EACH. THE ISSUE PRICE IS 3.50 TIMES OF THE FACE VALUE. ISSUE OPENED ON 6th FEBRUARY, 2014 AND CLOSED ON 12th FEBRUARY, 2014.

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE') in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, Company is not required to obtain an in-principle approval of the shares being offered in this Issue. However Company has received an approval letter dated 3rd January, 2014 from BSE for using its name in the offer document for listing of our Shares on the SME platform of BSE. The designated stock exchange is 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 275 applications for 20,04,000 Equity Shares (Including Market Maker Application of 1,20,000 Equity Shares) resulting 0.9109 time subscription before cheque returns and before considering technical rejection cases. The Issue was subscribed to the extent of 0.8964 time after considering the cheque return cases of 32,000 Shares for 8 applications. After considering the Technical Rejections cases of 32000 Shares for 4 applications, the Issue was subscribed 0.8818 time. Since this Issue was fully underwritten, and requisite notice has been sent to Underwriter i.e. Guiness Corporate Advisors Private Limited hence Underwriter has subscribed the shortfall of 2,60,000 Shares and accordingly Issue was subscribed to 1.00 time.The details of the applications received in the Issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejections):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Retail Individual Applicants 226 904,000 0.869
Non Retail Applicants 40 948,000 0.912
Market Maker Portion 1 120,000 1.00
Underwriter 1 260000 1.00
TOTAL 268 2232000 1.015

The details of applications rejected by the Registrar on technical grounds are detailed below:

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Retail Individual Applicants 2 8000
Non Retail Applicants 2 24000
TOTAL 4 32000

Detail of the Applications Received (After Technical Rejections):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Retail Individual Applicants 224 896,000 0.862
Non Retail Applicants 38 924,000 0.888
Market Maker Portion 1 120,000 1.00
Underwriter 1 260000 1.00
TOTAL 264 2200000 1.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 24th February, 2014.

A. Allocation to Market Maker The Basis of Allotment to the Market Maker, at the issue price of Rs. 35/- 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 1,20,000 Equity shares in full out of reserved portion of 1,20,000 Equity Shares

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 35/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.862 times. Total number of shares allotted in this category is 8,96,000 Equity Shares. The balance 1,44,000 Shares has been added to Underwriter Category as spill over. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. of Applications % t0 total Total No. of Equity Shares applied % of total Proportionate Shares Available Allocation per Applicant Ratio of Allottees to the Applicants Total No. of Equity Shares allotted
4000 224 100 896000 100 1040000 4000 FIRM 896000
TOTAL 224 100 896000 100 1040000 4000 FIRM 896000

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs.35/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.888 times. Total number of shares allotted in this category is 9,24,000 Equity Shares. The balance 1,16,000 Shares has been added to Underwriter Category as Spill over. The Category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. of Appli cations % to total Total No. of Equity Shares applied % to total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to the Applicants Total No. of Equity Shares allotted
8000 14 36.84 112000 12.12 126061 9004.36 8000 FIRM 112000
12000 4 10.53 48000 5.19 54026 13506.50 12000 FIRM 48000
16000 2 5.26 32000 3.46 36017 18008.50 16000 FIRM 32000
20000 7 18.42 140000 15.15 157576 22510.86 20000 FIRM 140000
40000 3 7.89 120000 12.99 135065 45021.67 40000 FIRM 120000
48000 2 5.26 96000 10.39 108052 54026.00 48000 FIRM 96000
60000 5 13.16 300000 32.47 337662 67532.40 60000 FIRM 300000
76000 1 2.64 76000 8.23 85541 85541.00 76000 FIRM 76000
TOTAL 38 100 924000 100 1040000 924000

D. Allocation to Underwriters (After Technical Rejections & Withdrawal): The shortfall of retail category (144000 Shares) and Non Retail category (116000) Shares has been subscribed by Underwriter at the issue price of Rs. 35/- per Equity Share, was finalized in consultation with BSE. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. of Applications % to total Total No. of Equity Shares applied % of total Proportionate Shares Available Allocation per Applicant Ratio of Allottees to the Applicants Total No. of Equity Shares allotted
260000 1 100 260000 100 260000 260000 FIRM 260000
TOTAL 1 100 260000 100 260000 260000 FIRM 260000

The Board of Directors of the Company at its meeting held on 24th February, 2014 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the transfer of the Equity Shares / dispatch of share certificates to various successful applicants. The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before 25th February, 2014. Further, the instructions to Self Certified Syndicate Banks being processed on or prior to 25th February, 2014. 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 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 tor trading on the SME Platform of BSE Limited within Twelve working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before 28th February, 2014 subject to receipt of listing and trading approvals from BSE Limited.

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 PVT. LTD
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078
Tel: +91 -22-2596 7878; Fax: +91 -22-2596 0329
Website: www.linkintime.co.in; E-mail ID: ptl.ipo@linkintime.co.in

Place: Mumbai
Date : 24.02.2014
For Polymac Thermoformers Limited
Sd/-
Anuj Jalan
Company Secretary

Polymac Thermoformers IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Polymac Thermoformers IPO?

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

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

    Visit the Polymac Thermoformers IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Polymac Thermoformers IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Polymac Thermoformers 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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