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PSP Projects IPO Details

Issue Open May 17, 2017
Issue Close May 19, 2017
IPO Price ₹210
Face Value ₹10
IPO Size ₹211.68 Cr
Listing At BSE, NSE
IPO Lot Size 70

PSP PROJECTS LIMITED

Our Company was incorporated as PSP Projects Private Limited on August 26. 2008, as a private limited company under the Companies Act, 1956, with the Registrar of Companies. Gujarat at Ahmedabad (the 'RoC'). Our Company was converted into a public limited company pursuant to a special resolution of the Shareholders dated June 30,2015 and consequently, the name of our Company was changed to PSP Projects Limited and a fresh certificate of incorporation was issued by the RoC on July 10,2015. For further details of change in the name and registered office of our Company, please see the section entited 'History and Certain Corporate Matters' on page 155 of the Prospectus dated May 22,2017 (the 'Prospectus').

Registered and Corporats Office: PSP House. Opposite Celesta Courtyard. Opposite lane of  Vikram Nagar Colony. Isoon-Ambli Road. Ahmedabad - 380 054. Gujarat. Contact Person: Minakshi Tak, Company Secretary and Compliance Officer', Tel: +91 79 26936200/300/400; Fax: +91 79 26936500.
E-mail: grievance@pspprojects.com; Website: www.pspprojects.com; Corporate Identity Number: U45201GJI200BPLC054868

OUR PROMOTERS: PRAHALADBHAI SHIVRAMBHAI PATEL AND SHILPABEN PATEL.

BASIS OF ALLOTMENT

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 May 29,2017.

PUBLIC ISSUE OF 10,080,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE 'EQUITY SHARES') OF PSP PROJECTS LIMITED ('OUR COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 210 PER EQUITY SHARE (INCLUDING A SHARE PREMlUM OF RS 200 PER EQUITY SHARE) AGGREGATlNG TO RS 2,116.80' MILLION COMPRISING A FRESH ISSUE OF 7,200,000 EQUITY SHARES AGGREGATING TO RS 1,512.00 MILLION (THE 'FRESH ISSUE') AND AN OFFER FOR SALE OF 1,584,000 EQUITY SHARES BY PRAHALADBHAI SHIVRAM BHAI PATEL 576,000 EQUITY SHARES BY SHILPABEN PATEL. (PRAHALADBHAI SHIVRAM BHAI PATEL AND SHLPABEN PATEL COLLECTIVELY REFERRED TO AS THE 'PROMOTER SELLING SHAREHOLDERS') 288,000 EQUITY SHARES BY POOJA PATEL AND 432,000 EQUITY SHARES BY SAGAR PATEL (POOJA PATEL AND SAGAR PATEL COLLECTIVELY REFERRED TO AS THE 'PROMOTER GROUP SELLING SHAREHOLDERS') (THE PROMOTER SELLING SHAREHOLDERS AND THE PROMOTER GROUP SELLING SHAREHOLDERS COLLECTIVELY REFERRED TO AS THE 'SELLING SHAREHOLDERS') AGGREGATING TO RS 604.80 MILLION (THE 'OFFER FOR SALE' AND TOGETHER WITH THE FRESH ISSUE, THE 'ISSUE'). THE ISSUE CONSTITUTES 28.00 % OF OUR POST-ISSUE PAID-UP EQUITY SHARE CAPITAL.

THE ISSUE PRICE :RS 210 PER EQUITY SHARE OF FACE VALUE OF RS10 EACH
THE ISSUE PRICE IS 21 TIMES OF THE FACE VALUE
ANCHOR INVESTOR ISSUE PRICE: RS 210 PER EQUITY SHARE

Risks to Invasions:

i.The two Book Running Lead Managers associated with the Issue have handled 7 public issues in In the past 3 years-, out of which 2issues dosed below the Issue price on listing date.

ii. The average cost of acquisition per Equity Share by our Promoters. Prahaladbhai Shivrambhai Patel is Rs 0.28. and Shilpaben Patel is Rs 0.01 and the Issue Price at upper end of the Price Band is significantly higher at Rs 210.

BID/ISSUE PROGRAMME:
ANCHOR INVESTOR BIDDING DATE: MAY 16, 2017
BID/ISSUE OPENED ON MAY 17, 2017 | BID/ISSUE CLOSED ON MAY 19. 2017

This Issue is being made in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules. 1957. as amended ('SCRR') and Regulation 26 (2) of the SEBI ICDR Regulations, wherein at least 75% of the Issue was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') ('QIB Category'), out of which our Company and the Selling Shareholders, in consultation, with the BRLMs. have allocated up to 60% of the QIB Category to Anchor investors on a discralionary basis in accordance with the SEBI ICDR Regulations ('Anchor Investor Portion'), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further. 5% of the QIB Category (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category was available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Muluel Fund. subject to valid Bids being received at or above the issue Price. Further, not more than 15% of the Issue was available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Issue was available for allocalion to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being receivied at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ('ASBA') process proving deiails of their respective ASBA accounts In which the corresponding Bid Amounts will be blocked by the SCSBs. Anchor Investors were not permitted to participate in the Issue through the ASBA process For details see section tited 'Issue Procedure' on page 392.

Sr No. Category Na. of
Applications
No. of
Equity Shares
No, of Times
Subscribed
Amount
(In Rs)
Shares
Reserved
A Retail Individual Bidders 74,864 6,235,670 6.19 1,309,481,500.00 1,008,000
G Non Institutional Bidders 104 14,275,240 9.44 2,997,736,910.00 1,512,000
C Qualifies Institutional Bidders (Excluding Anchors) 42 25,329,710 8.38 5.319,239,100.00 3,024,000
D Anchor Investors 21 5,012,700 1.11 1,052,667,000.00 4,536,000
Total 75,031 50,853.320 5.04 10.679.124,510,00 10.080.000

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

Sr. No BID PRICE BIDS QUANTITY (%) TO TOTAL Cumulative Total % Cumulative Total
1 205 54,810 0.12 54,810 0.12
2 206 7,770 0.02 62,580 0.13
3 207 28,630 0.06 91,210 0.19
4 208 15,260 0.03 106,470 0.22
5 209 7,630 0.02 114,100 0.24
6 210 41,926,220 88.03 42,040,320 88.27
7 CUTOFF 5,.588,940 11.73 47,629,260 100.00
TOTAL 47,629.260 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on May 24,2017.
A. Allotment to Retail Individual Investors (After Technical Rejection)(Including ASBA Applications).

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at or above the Issue Price of Rs 210 per Equity Share was finalized in consultation with BSE The category has been subscribed to the extent of 6.049097 times, The total number of Equity Shares Allotted in this category is 1,008,000 Equity Shanes to 14,400 successful applicants. 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 Equity
Shares Allotted
per Applicant
Ratio Total No.
of Equity Share
Allotted
70 69.180 94.18 4.842.600 79.42 70 99:505 949.340
140 2,056 2.80 287,840 4.72 70 10:51 28,210
210 763 1.04 160,230 2.63 70 23:117 10,500
280 288 0.39 80,640 1.32 70 7:36 3,920
350 287 0.39 100.450 1.65 70 7:36 3,920
420 120 0.16 50.400 0.83 70 23:120 1,610
490 144 0.20 70.560 1.16 70 7:36 1,960
560 49 0.07 27,440 0.45 70 10:49 700
630 31 0.04 19,530 0.32 70 6:31 420
700 120 0.16 84.000 1.38 70 1 :5 1,680
770 22 0.03 16,940 0.28 70 2:11 280
840 24 0.03 20,160 0.33 70 5:24 350
910 370 0.50 336,700 5.52 70 14:71 5,110
TOTAL 73,454 100.00 6,097,490 100.00 1,000,000

B. Allotment to Non Institutional Investors (Aftar Technical Rejections) (Including ASBA Applications).

The Basis of Allotment to the Non-Institutional Investors, who have Bid at or above the Issue Price of Rs 210 per Equity Share.was finalized in consultation with the BSE. This category has been subscribed to the extent of 9.385602 times The total number of Equity Shares Allotted in this category is 1,512.000 Equity Shares to 95 successful applicants.

The category-wise details of the Basis of Allotment are as under: (Sample)

Category No. of
Applications
Received
% of
Total
Total No. of
Equity Shares
applied
% to
Total
No. of Equity
Shares Allotted
per Applicant
Ratio Total No. of
Equity Share
Allotted
980 11 11.58 10.780 0.08 104 1:1 1,144
1,050 4 4.21 4,200 0.03 112 1:1 448
1,190 4 4.21 4,760 0.03 127 1:1 508
1,400 5 5.26 7,000 0.05 149 1:1 745
1,890 1 1.05 1,890 0.01 201 1:1 201
1,960 1 1.05 1,960 0.01 209 1:1 209
2,030 1 1.05 2,030 0.01 216 1:1 216
2,100 4 4.21 8,400 0.06 224 1:1 896
2.380 4 4.21 9,520 0.07 254 1:1 1,016
2,520 1 1.05 2,520 0.02 269 1:1 269
2,870 1 1 05 2,870 0.02 306 1:1 305
2,940 3 3.16 8,820 0.06 313 1:1 939
3,500 2 2.11 7,000 0.05 373 1:1 746
Category No. of
Applications
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
3,780 1 1.05 3,780 0.03 403 1:1 403
4,760 2 2.11 9,520 0.07 507 1:1 1,014
4.900 3 3.16 14,700 0.10 522 1:1 1,566
5,250 1 1.05 5,250 0.04 559 1:1 559
5,320 1 1.05 5,320 0.04 567 1:1 567
5,600 2 2.11 11,200 0.08 597 1:1 1,194
7,000 1 1,05 7,000 0,05 746 1:1 746
7,070 2 2.11 14,140 0.10 753 1:1 1,506
7.280 1 1.05 7,280 0.05 776 1:1 776
7,700 1 1.05 7,700 0.05 820 1:1 820
8,540 1 1.05 8,540 0.06 910 1:1 910
9,520 3 3,16 28,560 0.20 1,014 1:1 3,042
10,500 2 2,11 21,000 0.15 1,119 1:1 2,238
11,900 3 3.16 35,700 0.25 1,268 1:1 3.804
11,970 1 1.05 11,970 0.08 1,275 1:1 1,275
14.280 1 1.05 14.280 0.10 1,522 1:1 1,522
17,010 1 1,05 17,010 0.12 1,812 1:1 1,812
38,080 2 2.11 76,160 0.54 4,057 1:1 8,114
44,800 1 1.05 44,800 0.32 4,773 1:1 4,773
47,600 6 6.32 285,600 2.01 5,072 1:1 30,432
67,550 1 1.05 67,550 0.48 7,197 1:1 7,197
72,800 1 1.05 72,800 0.51 7,757 1:1 7,757
81,410 1 1.05 81,410 0.57 8,674 1:1 8,674
95,200 1 1.05 95,200 0.67 10,143 1:1 10.143
98,000 1 1.05 98,000 0.69 10,442 1:1 10,442
99,960 1 1.05 99,960 0.70 10,650 1:1 10,650
119,000 1 1.05 119,000 0.84 12,679 1:1 12.679
238,000 1 1.05 238,000 1.68 25,358 1:1 25,358
476,000 1 1.05 476,000 3.35 50,716 1:1 50,716
476.210 1 1.05 476.210 3.36 50,738 1:1 50,738
952,000 1 1.05 952,000 6.71 101,432 1:1 101,432
952,350 1 1.05 952,350 6.71 101,469 1:1 101,469
1,190,000 1 1.05 1,190,000 8.39 126,790 1:1 126,790
1,428,560 1 1.05 1,428,560 10.07 152,208 1:1 152,208
1,666,630 1 1.05 1,666,630 11.74 177,573 1:1 177,573
2.380,910 1 1.05 2,380,910 16.78 253,677 1:1 253,677
3.095.190 1 1.05 3.095.190 21.81 329,781 1:1 329.781
TOTAL 95 100.00 14,191,030 100.00 1,512,000

C. Allotment to QIBs excluding Anchor Investors

The Basis of Allotment to QIBs who have Bid at or above the Issue Price of Rs 210 per Equity Share has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 8.3762 times. As per the SEBI ICDR Regulaiions. Mutual Funds were Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 151.200 Equity Shares and other QIBs. including Mutual Funds, were Allocated the remaining available 2.872.800 on proportionate basis. The total number of Equity Shares allotted in the QIB category is 3.024.000 Equity Shares, which were allotted to 42 successful Applicant. The category-wise details of the Basis of Allotment are as under:

Category Fls/Banks Flls IC MFs OTH Total
QIB 0 664,695 387,448 1,711,072 260,785 3,024,000

D. Allotment to Anchor Investors

Category FIs/Banks MFs ICs VCs AIF/FPI FII/FPC Others Total
Anchor 0 3,265,005 1,029,896 0 0 238,099 0 4,536,000

The Company and the selling Shereholders in consultation with the BRLMs have Allocated 4,536,000 Equity shares to 21 Anchor Investors through 9 Applications at the Anchor Investor Issue Price of Rs 210 per Equity Shares in accordance with the SEBI ICDR Regulation. This represents 60 % of the QIB Category.
The Company at it's board meeting held on May 25.2017, has taken on record the Basis of Allotment of the Equity Share approved by the Designated Stock Exchange, being BSE and Allotted the Equity Shares to various successful Applicants,
The Allotment Advice-cum-Refund Orders and,/ or notices will be dispatched on or before May 26, 2017 to the address of the investor as registered with the depositories. Further, instructions to the Self Certified Syndicate Banks have been dispatched/ mailed on May 25,20l7 and payment to non-Syndicate brokers will be issued on May 26,2017.In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Refund Orders have been overprinted with the Bank Account datals as registered, if any. with the depositories. The Equity Shares Allotted to the successful Applicants have been credited on May 25,2017 to their beneficiary accounts subject to validation of the account details with the depositories concemed. Our Company is taking steps for completion of the necessary formalities to get the Equity Shares admitted for trading on the BSE and the NSE within six Working Days from the Bid/ Issue Closing Date.
Note; All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORES PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at www.karishma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrarto the Issue quoting full name of the First' Sole applicant. Serial number of the Bid-Cum-Application form, number of Equity Shanes bid for. name of the Member of the Syndicate, place where the bid was submitted and payment details 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: pspprojects.ipo@karvy.com
Investor grievance e-mail: einward.ris@karvy.com; Website: www.karishma.karvy.com
Contact person: M Murali Krishna; SEBI Registration No.: INR000000221

Place: Ahmedabad

Date: May 25.2017

For PSP PROJECTS LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary & Compliance Officer

PSP Projects IPO Basis of Allotment FAQs

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

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

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