Prataap Snacks Details

Issue Open Sep 22, 2017
Issue Close Sep 26, 2017
IPO Price ₹938
Face Value ₹5
IPO Size ₹481.56 Cr
Listing At BSE, NSE
IPO Lot Size 15

PRATAAP SNACKS LIMITED

Our Company was incorporated as Prataap Snacks Private Limited on March 23, 2009 at Gwalior, Madhya Pradesh as a private limited company under the Companies Act, 1956. Pursuant to a special resolution passeb by our Shareholders on September 9, 2016, our Company was converted into a public limited company and the name was changed to Prataap Snacks Limited and a fresh certificate of incorporation consequent upon change of name was issued an September 19, 2016 by the Registrar of Companies, Madhya Pradesh at Gwalior ("Roc"). For details pertaining to the changes in our name and the address of our Registered Office, see "History and Certain Corporate Matters" on page 194 of the Prospectus dated September 27, 2017 ("Prospectus").

Registered and Corporate Office: Khasra No 378/2, Nemawar Road, Near Makrand House, Indore 452 020: Tel: (91 731) 243 7621; Fax: (91 731) 243 7605 Contact Person: Rishabh Kumar Jain, Company Secretary and Compliance Officer; E-mail: complianceofficer@yellowdiamond.in ; Wabsite: www.yellowdiamond.in Corporate Identity Number: U15311MP2009PL0021746

PROMOTERS OF OUR COMPANY: MR ARVIND MEHTA, MR. AMIT KUMAT AND MR. APOORVA KUMAT, INDIVIDUALS IDENTIFIED AS PROMOTERS AND LISTED IN "OUR PROMOTERS AND PROMOTER GROUP" BEGINNING ON PAGE 220 OF THE PROSPECTUS AND SCI GROWTH INVESTMENTS II

Our Company has Registered the Prospectus dated September 27, 2017 with the RoC and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on October 05, 2017,

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 5,137,966 EQUITY SHARES OF FACE VALUE OF RS 5 EACH (THE "EQUITY SHARES") OF PRATAAP SNACKS LIMITED (OUR "COMPANY") FOR CASH AT A PRICE OF RS 938 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 933 PER EQUITY SHARE) AGGREGATING UP RS 4,815.63 MILLION (THE "ISSUE") CONSISTING OF A FRESH ISSUE OF 2,132,196 EQUITY SHARES AGGREGATING TO RS 1,998,43** MILLION AND AN OFFER FOR SALE OF 3,005,770 EQUITY SHARES INCLUDING 369,451 EQUITY SHARES BY SEQUOIA CAPITAL GFIV MAURITIUS INVESTMENTS II  ("SCG") AND 94,266 EQUITY SHARES BY SEQUOIA CAPITAL INDIA GROWTH INVESTMENT HOLDINGS I ("SCI-GIH") (COLLECTIVELY REFERRED TO AS THE "INVESTOR SELLING SHAREHOLDERS"), 1,317,093 EQUITY SHARESBY SCI GROWTH INVESTMENTS II ("SCI"), 183,740 EQUITY SHARES BY ARVIND MEHTA, 139,200 EQUITY SHARES BY NAVEEN MEHTA, 139,200 EQUITY SHARES BY ARUN MEHTA, 361,920 EQUITY SHARES BY RAJESH MEHTA, 66,820 EQUITY SHARES BY KANTA MEHTA, 77,950 EQUITY SHARES BY PREMLATA KUMAT 22,270 EQUITY SHARES BY SWATI BAPNA, 116,930 EQUITY SHARES BY APOORVA KUMAT AND 116,930 EQUITY SHARES BY AMIT KUMAT (TOGETHER, THE "PROMOTER SELLING SHARE HOLDERS", AND TOGETHER WITH THE INVESTOR SELLING SHAREHOLDERS, THE "SELLING SHAREHOLDERS"). THE ISSUE INCLUDES A RESERVATION OF 42,000 EQUITY SHARES AGGREGATING TO RS 35.62 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREIN) ("EMPLOYEE RESERVATION PORTION"'). THE ISSUE LESS EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE "NET ISSUE", THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 21.91% AND 21.73% RESPECTIVELY, OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

*Employees Discount of Rs 90 per Equity Share to the issue Price was offered to the Eligible Employee Bidding in the Employee Reservation Portion.

**Our Company has undertaken a private placement of 533,000 Equity Shares for a cash consideration of Rs 500 million ("Pre-IPO"). The size of the Fresh Fresh issue as disclosed in the Draft Red Herring Prospectus dated June 21, 2017 being 2,500 million has been reduced accordingly.

Issue Price: Rs 938 per Equity Share of face value of Rs 5 each |  Employee Discount: Rs 90 per equity share to the Issue Price to eligible employees
The Issue Price is 187.6 times the face value | Anchor Investor Issue Price: Rs 938 per Equity Share

Risks to Investors

• The 3 Managers associated with the Issue have handled 23 public issues in the past three years out of which 3 issues closed below the issue price on the listing date*.
• The Price/Earnings ratio ("P/E Ratio") based on diluted EPS for Fiscal 2017 as per Restated Consolidated Financial Statements for the Company at the upper end of the Price Band is

196.65 compared to the NIFTY 50 price earnings ratio of 23.26 (as of March 31, 2017) and to the average industry peer group P/E ratio of 72.71.
• The average cost of acquisition** of Equity Shares for^:

a) the Promoters (including Promoter Selling Shareholders) ranges from Rs 0.89 to Rs 192.64 per Equity Share; and
b) the Investor Selling Shareholders is Rs 193.01 and Rs 359.72 per Equity Share.

* As disclosed in the Prospectus:

**The average cost of acquisition per Equity $hare by the Promoters has been calculated by taking the average of the amounts paid by each of our Promoters to acquire Equity Shares, and has not been adjusted for selling price of the Equity Shares sold by them.

^For further details, refer fne section "Risk Factors- Prominent Notes" on 50 of the Prospectus.

BID / ISSUE
PERIOD
OPENED ON FRIDAY, SEPTEMBER 22, 2017 | CLOSED ON TUESDAY, SEPTEMBER 26,2007
ANCHOR INVESTOR BIDDING DATE: THURSDAY, SEPTEMBER 21, 2017

In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 , as amended (the "SCRR") and in compliance with Regulation 26(1) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI ICDR Regulations"), this Issue was made through the Book Building Process, wherein 50% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the"QIB Portion"), provided that our Company and the Selling Shareholders, in consultation with the GCBRLMs and the BRLM, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"), out of which one-third was reserved for domestic Mutual Funds only, subject to valid bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) was allocated on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other then Anchor investors ), Including Mutual Funds, subject to valid bids being received at or above the Issue Price, Further, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less 1han 35% of the Net Issue was available for allocation to Relail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, 42,000 Equity Shares were available for allocation on a proportionate basis to Eligible Employees, Subject to valid Bids being received from thern at or above the Issue Price, after the Employee Discount, All potential investors, other than Anchor Investors, were required to mandatorily use the Application Supported by Blocked Amout ("ASBA") process providing details or their respective bank account which was blocked by the Self Certified Syndicate Banks ("SCSBs"), to participate in this Issue. Anchor Investors were not permitted to participate in the Issue through ASBA process, For details, see "Issue Procedure" beginning on page 439 of the Prospectus.

The bidding For Anchor Investor opened and closed on September 21, 2017. The company received 25 applications from 15 anchor investors for 1,952,115 shares. The Anchor investor price was. finalized at Rs 938 per Equity Share. A total of 1,528,789 shares were allocated under the Anchor investor Portion aggregating to 1434.00 million.

The Issue received 885,544 applications for 17,27,64,945 Equity Shares (prior to technical rejections) resulting in 33.63 times subscription. The details of the applications received in the Issue from various categories are as under (prior to technical rejections):

SI
no.
Category No. of
Applications applied
No. of
Equity Shares
Shares Reserved
as per Prospectus
No. of times
Subscribed
Amounl (Rs)
A Retail Individual Bidders 8,83,836 1,43,06,385 17,83,589 8.02 13,42,05,47,298.00
B Non-Institutional Bidders 440 7,73,76,675 7,64,395 101.23 72,57,93,09,150.00
C Eligible Employee 1,141 58,830 42,000 1.4 4,99,08,135.00
D Qualified Institutional Bidders (Excluding Anchors Investor) 102 7,90,70,940 10,19,193 77.58 74,16,85,41,720.00
E Anchor Investors 25 19,52,115 15,28,789 1.28 1,83,10,83,870.00
Total 8,85,544 17,27,64,945 51,37,966 33.63 1,62,04,93,90,173.00

Final Demand
A summary of the final demand as at different

BID PRICE No. of Equity Shares (%) TO TOTAL Cumulative Total % Cumulative Total
930 32,100 0.02 32,100 0.02
931 1,905 0.00 34,005 0.02
932 2,370 0.00 36,375 0.02
933 975 0.00 37,350 0.02
934 4,140 0.00 41,490 0.02
935 11,355 0.01 52,845 0.03
936 8,775 0.01 61,620 0.04
937 8,880 0.01 70,500 0.04
938 15,87,59,130 92.28 15,88,29,630 92.32
CUTOFF 1,32,10,485 7.38 17,20,40,115 100.00
TOTAL 17,20,40,115 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the NSE on September 29, 2017.

A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Issue Price of Rs 938 per Equity Shere, was finalized in consultation with the NSE. This category has been subscribed to the extent of 7.8826 times. The total number of Equity Shares Allotted in Retail Portion is 1,784,954 Equity Shares (including Spilled over) to 118,996 successful Retail individual Bidders. The category-wise details of the Basis of Allotment are as under:

Category No. of
Application
Received
% of
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of
Equity Shares
Allotted per
applicant
Ratio Total No. of
Equity Shares
Allotted
15 8,48,498 97.50 1,27,27,470 90.46 15 115:841 17,40,390
30 11,436 1.31 3,43,080 2.44 15 16:117 23,460
45 3,258 0.37 1,46,610 1.04 15 16:117 6,690
60 1,749 0.20 1,04,940 0.75 15 16:117 3,585
75 976 0.11 73,200 0.52 15 16:117 1,995
90 635 0.07 57,150 0.41 15 16:117 1,305
105 785 0.09 82,425 0.59 15 16:117 1,605
120 295 0.03 35,400 0.25 15 40:295 600
135 155 0.02 20,925 0.15 15 21:155 315
150 372 0.04 55,800 0.40 15 51:372 765
165 84 0.01 13,860 0.10 15 01:07 180
180 133 0.02 23,940 0.17 15 18:133 270
195 132 0.02 25,740 0.18 15 03:22 270
210 1,712 0.20 3,59,520 2.56 15 16:117 3,510
14 Allottees from categories 30-210 allotted 1 (one) additional share 1 7:1485 14
TOTAL 370,220 100.00 1,40,70,060 100.00 17,84,954

B. Allotment to Non-Institutional Bidders (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price of Rs 938 per Equity Share or above, was finalized in Consultation with the NSE. The Non-Institutional portion has been subscribed to the extent of 100.9352 times. The total number of Equity Shares Allotted in this category is 764,980 (Including spilled over) Equity Shares to 267successful Non-Institutional Bidders. The category-wise details of the Basis of Allotment are as under: (Sample)

Category No. of
Application
Received
% of
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of
Equity Shares
Allotted per
applicant
Ratio Total No. of
Equity Shares
Allotted
225 120 27.97 27,000 0.03 15 3:20 270
450 2 0.47 900 0.00 15 1:2 15
540 10 2.33 5,400 0.01 15 2:5 60
1005 1 0.23 1,005 0.00 15 1:1 15
1095 1 0.23 1,095 0.00 15 1:1 15
1350 1 0.23 1,350 0.00 15 1:1 15
6000 3 0.70 18,000 0.02 59 1:1 177
10650 5 1.17 53,250 0.07 106 1:1 530
15300 1 0.23 15,300 0.02 152 1:1 152
53295 8 1.86 4,26,360 0.55 528 1:1 4,224
270000 1 0.23 2,70,000 0.35 2675 1:1 2,675
1066095 5 1.17 53,30,475 6.90 10562 1:1 52,810
1226010 1 0.23 12,26,010 1.59 12147 1:1 12,147
1332615 1 0.23 13,32,615 1.73 13203 1:1 13,203
1599150 3 0.70 47,97,450 6.21 15843 1:1 47,529
1705755 1 0.23 17,05,755 2.21 16900 1:1 16,900
1865670 1 0.23 18,65,670 2.42 18484 1:1 18,484
1982940 1 0.23 19,82,940 2.57 19646 1:1 19,646
2345415 1 0.23 23,45,415 3.04 23212 1:1 23,212
2665245 1 0.23 26,65,245 3.45 26377 1:1 26,377
3567150 1 0.23 35,67,150 4.62 35303 1:1 35,303
3567165 1 0.23 35,67,165 4.62 35303 1:1 35,303
TOTAL 429 100.00 7,72,13,430 100.00 7,64,980

C. Allotment to Eligible Employees

The Basis of Allotment to the Eligible Employees, who have bid at the Issue Price of Rs 848 per Equity Share or above, was finalised in consultation with the NSE. The Eligible Employees Portion has been subscribed to the extent of 0.9071 times. The total number of Equity Shares Allotted in this category is 38,100 Equity Shares to 115 successful Bidders. The category wise details of the Basis of Allotment are as under;

Category No. of
Applications
received
% of
Total
Total No. of
Equity Shares
applied
% to
Total
No. of Ratio
Equity Shares
Allotted
per Applicant
Ratio Total No. of
Equity
Shares Allotted
15 4 3.48 60 0.16 15 1:1 60
30 11 9.57 330 0.87 30 1:1 330
45 1 0.87 45 0.12 45 1:1 45
60 5 4.35 300 0.79 60 1:1 300
75 2 1.74 150 0 39 75 1:1 150
90 2 1.74 180 0.47 90 1:1 180
105 3 2.61 315 0.83 105 1:1 315
120 8 6.96 960 2.52 120 1:1 960
135 2 1.74 270 0.71 135 1:1 270
150 4 3.48 600 1.57 150 1:1 600
155 2 1.74 330 0.87 165 1:1 330
180 5 4.35 900 2.36 180 1:1 900
195 1 0.87 195 0.51 195 1:1 195
225 2 1.74 450 1.18 225 1:1 450
240 1 0.87 240 0.63 240 1:1 240
255 2 1.74 510 1.34 255 1:1 510
270 1 0.87 270 0.71 270 1:1 270
285 1 0.87 285 0.75 285 1:1 285
300 2 1.74 600 1.57 300 1:1 600
345 1 0.87 345 0.91 345 1:1 345
375 4 3.48 1,500 3.94 375 1:1 1,500
405 1 0.87 405 1.06 405 1:1 405
480 1 0.87 480 1.26 480 1:1 480
495 1 0.87 495 1.30 495 1:1 495
510 1 0.87 510 1.34 510 1:1 510
525 2 1.74 1,050 2.76 525 1:1 1,050
585 45 39.13 26,325 69.09 585 1:1 26,325
TOTAL 115 100.00 38,100 100.00 38,100

D. Allotment to QIBs (Excluding Anchor Investors)

Allotment to QIBs (Excluding Anchor Investors), who have bid at the Issue Price of Rs 938 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 77,4338 times of QIB Portion. As per the SEBI ICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 51,058 Equity Shares (including spilled over) and other QIBs, including Mutual Funds were Allotted the remaining available Equity Shares i.e. 970,085 Equity Shares (including spilled over) on a proportionate basis.The total number of Equity Shares Allotted in the QIB Portion is 1,021,143 Equity Shares, which were allotted to 102 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

Category FIs/Banks FPI/FII MFs ICs Others Total
QIB 1,18,392 2,49,069 2,04,398 48,992 4,00,292 10,21,143

E. Allotment to Anchor Investors

The Company and the Selling Shareholders, in consultation with the GCBRLMs, the BRLMs, have allocated 1,528,789 Equity Shares to 25 Anchor Investors at the Anchor Investor Issue Price of Rs 938 per Equity Share in accordance with the SEBI ICDR Regulations. This represents. 60% of the QIB Portion.

Category Fls/Banks MFs ICs AIF FPI/FII Total
Anhcor . 7,59,540 1,07,640 - 6,61,609 15,28,739

The IPO Committee of the Company on September 30, 2017 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimations and/or notices are being dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued on September 29, 2017 and payment to non-Syndicate brokers have been issued on October 03, 2017. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on October 03,2017 for credit into the respective beneficiery accounts subjects to validation of the account details with the depositories concerned. The Company has filed the Listing applications with NSE and BSE on October 03, 2017. The Company has received listing and trading approvals from NSE and BSE and the trading will commence on October 05,2017.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made have been hosted on the website of the Registrar to the Issue. Karvy Computershare Private Limited at https://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 Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgement Slip received from the Designated intermediary at the address given below:

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31 -32
Gachibowli, Financial District Nanakramguda, Hyderabad 500 032
Tel: (91 40) 6716 2222; Fax: (91 40) 2343 1551
E-mail: einward.ris@karvy.com
Investor Grievance E-mail: prataap.ipo@karvy.com
Website: https://karisma.karvy.com
Contact Person:
M. Murali Krishna
SEBI Registration Number: INR000000221

Date: October 04, 2017
Place: Indore
For PRATAAP SNACKS LIMITED
On behalf of Board of Directors
Sd/-
Company Secretary and Compliance Officer

Prataap Snacks Basis of Allotment FAQs

  1. 1. How shares are allotted in Prataap Snacks?

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

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

    Visit the Prataap Snacks allotment status page to check the number of shares allocated to your application.

  3. 3. What is Prataap Snacks allotment process?

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

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