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Power Instrumentation Gujarat IPO Basis of Allotment

Power Instrumentation Gujarat IPO Details

Issue Open Apr 11, 2018
Issue Close Apr 13, 2018
IPO Price ₹33
Face Value ₹10
IPO Size ₹6.15 Cr
Listing At NSE SME
IPO Lot Size 4000

POWER & INSTRUMENTATION (GUJARAT) LIMITED

(CIN - U32201GJ1983PLC006456)

Our Company was originally incorporated at Ahmedabad as 'Power & Instrumentation (Gujarat) Private Limited' on 12* September, 1983 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Ahmdabad. Consequent, upon the conversion of our Company Into public limited company, the name of our Company was changed to 'Power & Instrumentation (Gujarat) Limited' and fresh certificate of incorporation dated 5' July 2004 was Issued by the Registrar of Companies, Ahmedabad. For further details of incorporation, change of name and registered office of our Company, please refer to chapter titled and 'History and Certain Corporate Matters' beginning on page 121 of the Prospectus.

Registered Office: A-1, Sixth Floor; Safal Profitaire, Near Krishna Bunglows. 100 Ft. Road. Prahladnagar Ahmedabad-380 015, Gujarat. India,
Tel: +91-79-4005 1222, Fax: +91-79-4005 1222 Email: priyacs@grouppower.org Website; www.grouppower.org
Contact Person: Ms Priya Pramodkumar Saraf, Company Secretary & Compliance Officer

PROMOTER OF OUR COMPANY: MR. PADMARAJ  PADMNABHAN PILLAI AND MRS. PADMAVATI  PADMANABHAN PILLAI

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 18,64,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF POWER AND INSTRUMENTATION (GUJARAT) LIMITED (THE 'COMPANY'' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 33 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS, 23 PER EQUITY SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS. 615,12 LAKHS ('THE ISSUE'), OF WHICH 96,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 33 PER EQUITY SHARE, AGGREGATING RS. 31.68 LAKHS RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 17,68,000 EOUITY SHARES OF FACE VALUE OF RS.10 EACH CASH AT A PRICE OF RS. 33 PER EQUITY SHARE. AGGREGATING RS 583.44 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.46% AND 25.10% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated 28th March. 2018 and as por Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Issue 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. 33/- EACH. THE ISSUE PRICE IS 3.30 TIMES OF THE FACE VALUE.
ISSUE OPENED ON 11TH APRIL, 2018 AND CLOSED ON 13TH APRIL, 2018

The Equity Shares offered through the 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) Rogulations, 2009 as amended from time to time, Company has received In-Principle approval letter dated 28th March 2018 from NSE for using Its name in the offer document for listing of our Shares on the EMERGE platform of NSE. The designated stock exchange is National Stock Exchange of India Limited ('NSE').
All Applicant are mandatorily 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 2729 applications for 1,82.76,000 Equity Shares (Including Market Maker Application of 96,000 Equity Shares) resulting 9.805 times subscription. 256 applications of aggregating 17,92,000 Equity Shares were not banked hence 2473 applications for 1,64,84,000 Equity Shares (Including Market Maker Application of 96,000 Equity Shares) resulting 8.843 times subscription was considered. The details of the applications received in the Issue (before technical rejections) are as follows:
Detail of the Applications Received (Bofore Technical Rejections):

Category No. of Applications Number of Equity Shares SUBSCRIPTION
Market Makers 1 96,000 1,000
Other than Retail Individual Investor's 74 67,96,000 7,688
Retail Individual Investor's 2,398 95,92,000 10,851
TOTAL 2,473 1,64,84,000 8,843

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

Category No. of Applications Number of Equity Shares
Market Makers Nl Nil
Other than Retail Individual Investor's 1 76,000
Retail Individual Investor's 26 1,04,000
TOTAL 27 1,80,000

Details of the Valid Applications Received (After Technical Rejections):

Category No. of Applications Number of Equity Shares Subscription
Market Makers 1 96,000 1,000
Other than Retail Individual Investor's 73 67,20,000 7,602
Retail Individual Investor's 2,372 94,88,000 10,733
TOTAL 2,446 1,63,04,000 19,335

ALLOCATION: The Basis of Allotment was finalized In consultation with the Designated Stock Exchange - National Stock Exchange of India Limited ('NSE') on 18th April 2018.
A . Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker at the Issue price of Rs 33/- per Equity Share, was finalised In consultation with NSE. The category was subscribed by 1.000 time. The total number of shares allotted In this category Is 96,000 Equity shares In full out of reserved portion of 84,000 Equity Shares.
B . Allocation to Non Retail Investors (After Technical Rejections): The Basis of Allotment to the Non Retail Investors, at the Issue price of Rs- 33/- per Equity Share, was finalized in consultation with NSE The category was subscribed by 7.602 times. Total number of shares allotted In this category Is 7,32,000 Equity Shares. The category wise basis of allotment is as under:

No.of Shares
Applied for
(Calegory
wise)
No. of
Applications
%
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
Surplus/
Deficit
8,000 17 23.29 1,36,000 2.02 14814 871.43 4000 4:17 16000 (1186)
12,000 3 4.11 36,000 0.54 3922 1307.14 4000 1:3 4000 (79)
16,000 3 4.11 48,000 0.71 5229 1742.86 4000 1:3 4000 1229
20,000 3 4 11 60,000 0.89 6536 2178.57 4000 2.3 8000 (1464)
24,000 3 4.11 72,000 1.07 7843 2614.29 4000 2:3 8000 (157)
28,000 7 9.59 1,96,000 2.92 21350 3050.00 4000 5:7 20000 1350
32,000 4 5.48 1,28,000 1.90 13943 3485.71 4000 1:1 16000 (2057)
36,000 3 4.11 1,08,000 1.61 11764 3921.43 4000 1:1 12000 (236)
48,000 2 2.74 96,000 1.43 10457 5228.57 4000 1:1 8000 2457
4000 1:2 4000 (4000)
52,000 1 1.37 52,000 0.77 5664 5664.29 4000 1:1 4000 1664
60,000 2 2.74 1,20,000 1.79 13071 6535.71 4000 1:1 8000 5072
4000 1:2 4000 (4000)
64,000 1 1.37 64,000 0.95 6971 6971.43 8000 1:1 8000 (1029)
72,000 4 5.48 2,88,000 4.29 31371 7842.86 8000 1:1 32000 (629)
76,000 4 5.48 3,04,000 4.52 33114 8278.57 8000 1:1 32000 1114
80,000 1 1.37 80,000 1.19 8714 8714.29 8000 1:1 8000 714
1,00,000 4 5.48 4,00,000 5.95 43572 10892 86 8000 1:1 32000 11572
4000 3:4 12000 (12000)
1,20,000 2 274 2,40,000 3.57 26143 13071.43 12000 1:1 24000 2143
4000 1:2 4000 (4000)
1,48,000 1 1.37 1,48,000 2.20 16121 16121.43 16000 1:1 16000 121
1,60,000 1 1.37 1,60,000 2.38 17429 17428.57 16000 1:1 16000 1429
1,80,000 1 1.37 1,80,000 2.68 19607 19607.14 20000 1:1 20000 (393)
2,00,000 1 1.37 2,00,000 2.98 21786 21785.71 20000 1:1 20000 1786
2,24,000 1 1.37 2,24,000 3.33 24400 24400.00 24000 1:1 24000 400
3,00,000 1 1.37 3,00,000 4.46 32679 32678.57 32000 1:1 32000 679
4,08,000 1 1.37 4,08,000 6.07 44443 44442.86 44000 1:1 44000 443
9,08,000 1 1.37 9,08,000 13.51 98907 98907.14 100000 1:1 100000 (1093)
17,64,000 1 1.37 17,64,000 26.25 192150 192150.00 192000 192000 150
TOTAL 73 100 67,20,000 100 7,32,000 7,32,000 -

C. Allocation to Retail Individual investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 33/- per Equity Share, was finalized In consultation with NSE. The category was subscribed by 10.733 times. Total number of shares allotted in this category is 10,36,000 Equity Shares.
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
%
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
4000 2372 100 94,88,000 100 94,88,000 436.76 4000 259:2372 10,36,000
TOTAL 2372 100 94,88,000 100 94,88,000 10,36,000

The Board of Directors of the Company at Its meeting held on 19th April 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares/ dispatch of share certificates to various successful applicants The allotment advice cum refund Intimation will be dispatched to the address of the Applicants as registered with the depositories Further the instructions to Self Certified Syndicate Banks being processed on or before 20th April, 2018. In case the same is not recerved 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 got the Equity Shares admitted for trading on the EMERGE Platform of NSE within Six working days from the date of the closure of the Issue. The trading Is proposed to be commenced on or before 23rd April, 2018 subject to receipt of listing and trading approvals from National Stock Exchange of India Limited.

INVESTORS PLEASE NOTE
The details of the allotment made would also be Hosted on the website of the Registrar to the Issue. Skyline Financial Services Private Limited at 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 ASBA Bank details at the address of the Registrar given below;

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
4A9, Gundecha Onclave. Kherani Road. Sakinaka.Mumbai - 400 072
Tel No.: +91 22 2851 1022/6221 5779 Email: Mumbai@sky1inerta.com;
Investor Grievance Email; grievances@skylinerta.com;
Website: www.skylinerta.com SEBI Registration No.: INR000003241
Contact Person: Subhash Dhingreja

Place: Mumbai

Date: 19.04.2018

For Power & Instrumentation (Gujarat) Limited
Sd/-
Padmaraj Padmnabhan Pillai
Managing Director
(DIN: 00647590)

Power Instrumentation Gujarat IPO Basis of Allotment FAQs

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

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

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