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Powerhouse Fitness IPO Details

Issue Open Sep 29, 2014
Issue Close Oct 9, 2014
IPO Price ₹30
Face Value ₹10
IPO Size ₹7.20 Cr
Listing At BSE SME
IPO Lot Size 4000

POWERHOUSE FITNESS AND REALTY LIMITED

Our company was incorporated as  'Powerhouse Fitness And reality limited' a public limited company under the companies Act, 1956 pursuant to Certificate of incorporation dated February 8, 2013 issued by the Registrar of companies, Maharashtra, Mumbai. Our company received the certificate of commencement of business on February 18, 2013 issued by the registrar of comanies , maharashtra, mumbai. Our corporate identification number is U85190MH2013PLC240311. For further details of our comany, Please refer to the chapters titled 'General information' and 'History and certain corporate Matters' begining on page numbers 36 and 81, respectively, of the prospectus.

Registered Office: 702, Concord CHS, JVPD Scheme, plot No.1. Near Shiv Sagar Hotel, N.S. Road, Vile Parle (West), Mumbai - 400 056, Maharashlra, India Tel: +91 222671 4225, Fax: +91 22 2671 4225 * website: www.powerhousegymindia.co.in , E-mail: info@powerhousegymindia.com

Company Secretary and Compliance Officer: Ms. Vidhi Shah

OUR PROMOTERS; MR. AKSHAT GUPTA., MR, ANKUSH GUPTA, AND MRS. SUSHMA GUPTA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 24,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARE') OF POWERHOUSE FITNESS AND REALITY LIMITED ( THE 'COMPANY' OR THE 'ISSUER') FOR CASH ATA A PRICE OF RS 30 PER EQUITY SHARE , INCLUIDING SHARE PREMIUM OF RATE 20 PER EQUITY SHARE (THE 'ISSUE PRICE'), AGGREGATING RS 720.00 LACS ('THE ISSUE'), OF WHICH 1,28,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH ATA A PRICE OF RS 30 PER EQUITY SHARES AGGREGATING RS 38.40 LACS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE ('MARKET MAKER RESERVEATION PORTION:'), THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 22,72,000 EQUITY SHARES OF FACE VALUE RS 10 EACH FOR CASH AT A PRICE OF RS 30 PER EQUITY SHARES AGGREGATING RS 681.60 LACS EACH HEREINAFTER REFFERED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 34.78% AND 32.93% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMAPNY.

THIS BEING A FIXED PRICE ISSUE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE 'SEBI REGULATIONS'), OUT OF THE NET OFFER OF 22,72,000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVAILABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVESTORS AND OTHER INVESTORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORTIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.

THE FACE VALUE DF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE OF RS 30 TIMES OF THE FACE VALUE

ISSUE OPENED ON MONDAY, SEPTEMBER 29, 2014 AND CLOSED ON THURSDAY, OCTOBER 9, 2014

PROPOSED LISTING: WEDNESDAY, OCTOBER 22, 2014*

The Equity Shares offerred through this 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, we are not required to obtain an in principle listing approval for the shares being offered in this issue. However, our comapny has received an approval letter dated September 8, 2014 from BSE for using its name in this Prospectus for listing of our Equity shares on the SME platform of BSE. For the pupose of this issue, BSE shall be Designated Stock Exchange. The trading is proposed to be commenced with effect from WDENESDAY, OCTOBER 22,2014.*

*SUBJECT TO RECEIPT OF LISTING AND TRADING APPROVALS FROM THE BSE LIMITED
All applicants were allowed to participate in the issue trough APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self certified syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The issue has received 161 applications for 2008000 Equity shares resulting in 0.84 times subscription (including reserved portion of market maker). Since this issue was fully underwritten, and requisite notice was sent to Underwriter i.e. Transparent Shares and Securities Limited hence Underwriter has arranged  for subscription for the shortfall of Equity shares and accordingly issue was oversubscribed. The details of the applications received in the issue (before technical rejections and after cheque returns) are as follows:

Category

No. of
Applications
% No. of
Equity Shares
% Subscription
Market Maker 1 0.52 120000 4.29% 0.94
Retail Individual Applicant 91 46.91% 364000 13.02% 0.32
Other Than retail Individual Applicants 69 46.91% 1524000 54.51% 1.34
Market Maker (underwriter Own Account) 1 0.52 8000 0.29% 0.06
Underwriter Procurement 31 16.49% 780000 27.90% 2.03
Total 194 100.00% 2796000 100.00% 1.17

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

Technical rejection / withdrawal

Category No. Of
Applications
No. of
Equity Shares
Market Maker Nil Nil
Retail Individual Applicant 4 16000
Non Institutional Applicant 4 292000
Underwriter Development 6 52000
Total 14 360000

Aftar eliminaling Technically Rejected applications, the folllowing tables gives the details of category wise net valid applications:

After Technical Rejections

Category No. of
Applications
% No. of
Equity Shares
% Subscription No. of
Equity Shares
(Allotted)
Market Maker 1 0.56 120000 4.93% 0.94 120000
Retail Individual Applicant 87 48.33% 348000 14.29% 0.31 348000
Other Than retail Individual Applicants 65 36.11% 1232000 50.57% 1.08 1232000
Market Maker (underwriter Own Account) 1 0.56% 8000 0.33% 0.06 8000
Underwriter Procurement 26 14.44% 728000 29.89% 1.05 692000
Total 180 100.00% 2436000 100.00% 1,02 2400000

The undersuascribed 6,92,000 equity shares of Net issue portion was arranged for subscription by underwriter.

Allocation: The basis of Allottment was finalized in consultation with the Designated stock exchange BSE limited on october 17, 2014

A. Allocation to market maker (After Technical Rejection): The basis of allotment to the market maker, at the issue price of Rs. 30/- per equity shares was finalised in consultation with BSE. The category was subscribed by 1.00 times including application by Market Maker of 8000 Equity shares for Shortfall. The total number of shares allotted in this category is 1,28,000 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 shares, was finalised in consulation with BSE. the category was subscribed by 0.31 times i.e. for 3,48,000 equity shares. Due to under subscription all the 87 valid applications in this category have been given full and firm allotment of 4,000 Equity shares each and the under subscribed portion, of 96,000 equity shares from retail individual investors category have been spilled over to other than retail individual investors category and 692000 equity shares from retail individual investors category have been spilled over to underwriter's category.

C. Allocation to Other than Retail individual Investors (After technical Rejection): The Basis of allotment to the other than retail individual investors, at the issue price of rs 30/- per equity shares, was finalised in consultation with BSE. The category was subscribed 1.08 times. After adding the spill over 96,000 equity shares from retail individual investors category the category was subscribed by 1 time. the total number of shares allotted in this category is 12,32,000 Equity Shares.

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

No. Of Shares applied for (category Wise) No. of Applications receive % to total Total No. Of Shares Applied in Each category % To Total Proportionate Shares Available Allocation Per Applicant Before rounding Off Allocation Per Applicant After rounding Off Ratio Of Allottees to Applicant Total No. Of Shares Allotted Surplus/ Deficit
8000 15 23.08 120000 9.74 187403 8000 8000 1: 1 120000 -67403
12000 16 24.62 192000 15.58 299844 12000 12000 1: 1 192000 -107844
16000 20 30.77 320000 25.97 499740 16000 16000 1: 1 320000 -179740
20000 3 4.62 60000 4.87 93701 20000 20000 1: 1 60000 -33701
28000 2 3.08 56000 4.55 87455 28000 28000 1: 1 56000 -31455
32000 2 3.08 64000 5.19 99948 32000 36000 1: 1 64000 -31455
36000 1 1.54 36000 2.92 56221 36000 36000 1: 1 36000 -20221
48000 3 4.62 144000 11.69 224883 48000 48000 1: 1 144000 -8088
368000 1 1.54 68000 5.52 106195 68000 68000 1: 1 68000 -38195
72000 1 1.54 72000 5.84 112442 72000 72000 1: 1 72000 -40442
100000 1 1.54 100000 8.12 156169 100000 100000 1: 1 100000 -56169
Total 65 100.00 1232000 100.00 1924000 1232000 -692000

D: Allocation to underwriters (After Technical Rejections & Withdrawal): The subscription for the shortfall 692000 Equity shares in retail category has been arranged by Underwriter at the issue parice of Rs. 30/- per Equity Shares. The Basis Of Allotment for Undrwriter at the issue price of Rs. 30/- Per Equity Share, was finalised in consulatation with BSE. The category wise basis of allotment is as under.

No. Of Shares applied for (category Wise) No. of Applications receive % to total Total No. Of Shares Applied in Each category % To Total Proportionate Shares Available Allocation Per Applicant Before rounding Off Allocation Per Applicant After rounding Off Ratio Of Allottees to Applicant Total No. Of Shares Allotted Surplus/ Deficit
4000 16 61.54 64000 8.79 60835 3802.2 4000 3:4 48000 -12835
16000 1 3.85 16000 2.2 15209 15208.79 16000 1:1 16000 791
20000 2 7.69 40000 5.49 38022 19010.99 20000 1:1 40000 1978
32000 1 3.85 32000 4.4 30417 30417.58 32000 1:1 32000 1583
36000 1 3.85 36000 4.95 34220 3412.78 36000 1:1 36000 1780
40000 1 3.85 40000 5.49 38022 38021.98 40000 1:1 40000 1978
100000 3 11.54 300000 41.21 285165 95054.95 96000 1:1 2888000 2835
20000 1 3.85 200000 27.47 190110 190109.89 192000 1:1 192000 1890
Total 26 100.00 728000 100.00 692000 692000 0

The Board of Directors of the Company at its meeting held on October 18, 2014 has taken on record the Basis Of allotment of Equity shares approved by the Designated Stock Exchange viz. BSE limited and has authorized the corporate action for the transfer of the equity shares to various successful applicants.

The CAN-cum-Refund Oders and allotment advice and/or notices are being dispatched to the address of the applicants as registered with the depostories on October 20, 2014. Further, the instructions to Self Certified Syndicate Banks have been dispatched on or prior  to October 20, 2014. In case the same is not received wilhin 10 days, investors may contact at the address given below. Refunds have been made through Direct credit , RTGS and NEFT. into the BankAccocnls of the applicants as registered with the depositories For other applicants Refund Oders are being dispatched to their address as registered with the depositories in case the sarne is not received wthin 10 days, investors may contact at the addvess given below. The Refund orders have been over-printed with the Bank Mandate details as registered. If any, with the depostiortes. The Equity Shares allocated to successtul applicants are beingcredited to their beneficiery 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 BSE Limited within twelve working days from the date of the closure of the issue.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated September 15, 2014 ('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 tha application had been lodged and payment details at the address of the Registrar given below:

BIGSHARE SERVICES PRIVATE LIMITED
E/2, Ansa Industrial Estate, Saki Vihar road, Sakinaka, Andheri (EAST), Mumbai- 400 072.
Tel No: +91 22 40430200; Fax no.: +9122 2847 5207
Website: www.bigshareonline.com Email: ipo@bigshareonline.com
Contact Person: Mr. Babu Raphel
SEBI Registration No: INR000001385

Place: Mumbai
Date: October 20, 2014
For POWERHOUSE FITNESS ND REALITY LIMITED
On behalf of the Board Of Directors
Sd/-
Mr. Akshat Gupta
Managing Director

Powerhouse Fitness IPO Basis of Allotment FAQs

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

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

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