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Pushpanjali Realms IPO Details

Issue Open Jun 27, 2017
Issue Close Jun 30, 2017
IPO Price ₹55
Face Value ₹10
IPO Size ₹14.55 Cr
Listing At NSE SME
IPO Lot Size 2000

PUSHPANJALI REALMS AND INFRATECH LIMITED
CIN: U70102UR2013PLC000787

Our Company was incorporated as Pushpanjali Realms and Infratech Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated July 12, 2013 in Haridwar, Uttrakhand. Subsequently, the name of the company was changed to Pushpanjali Realms and Infratech Limited pursuant to shareholder's resolution on May 27, 2016 and vide fresh certificate of incorporation dated July 15, 2016. The Corporate Identification Number of Our Company is U70102UR2013PLC000787. For details of change in registered office of our Company please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 127 of the Prospectus.

Registered Office: Nath House, Devpura, Haridwar- 249401, Uttarakhand, India
Corporate Office: Khasra No.-11, Tarla Nagal, Near Heli-Pad, Sahastradhra Road, Dehradun - 248001, Uttarakhand, India
Tel No.: +91 8791088791; E-mail: compliance@pushpanjali.co; Website: www.pushpanjali.co; Contact Person: Mr. Sumit Goyal, Chief Financial Officer

PROMOTERS OF THE COMPANY: MR. DEEPAK MITTAL AND MR. RAJPAL WALIA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 26,46,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID UP OF PUSHPANJALI REALMS AND INFRATECH LIMITED ('PUSHPANJALI' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF Rs. 55/- PER EQUITY SHARE (THE 'ISSUE PRICE') (INCLUDING SHARE PREMIUM OF Rs. 45/- PER EQUITY SHARE) AGGREGATING Rs. 1,455.30 LAKHS (THE 'ISSUE') BY OUR COMPANY, OF WHICH 1,34,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID UP WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 25,12,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.43% AND 25.09% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO 'SECTION VII - ISSUE INFORMATION' BEGINNING ON PAGE 212 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH. THE ISSUE PRICE IS RS. 55/-
THE ISSUE PRICE IS 5.50 TIMES THE FACE VALUE.
ISSUE OPENED ON: TUESDAY, JUNE 27, 2017
ISSUE CLOSED ON: FRIDAY, JUNE 30, 2017
PROPOSED LISTING: MONDAY, JULY 10, 2017*

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ('NSE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time. The Company has received an in-principle approval letter dated April 26, 2017 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform.

For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to commence with effect from Monday, July 10,2017.*
*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

All applicants participated in the Issue through 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 633 applications for 28,94,000 Equity Shares resulting in 1.09 times subscription (including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections) are as follows:
Details of the Applications Received (Before Technical Rejection): 

Category No. of
Applications
% to
Total
Number of
Equity Shares
% to Total Subscription
(Times)
Market Maker 1 0.16 1,34,000 4.63 1.00
Retail Individual Investors 560 88.47 11,20,000 38.70 0.89
Other than Retail Individual Investors 72 11.37 16,40,000 56.67 1.31
TOTAL 633 100.00 28,94,000 100.00 1.09

The details of applications rejected by the Registrar on technical grounds are detailed below: (Technical rejection)

Category No. of
Applications
Number of
Equity Shares
Market Maker Nil Nil
Retail Individual Investors 13 26,000
Other than Retail Individual Investors 2 16,000
TOTAL 15 42,000

After eliminating technically rejected applications, the following tables give us Category wise net valid applications:

Category No. of
Applications
% to
Total
Issue Size
(as per Prospectus)
Proportionate Issue
Size (After rounding off)
No. of Valid
Shares applied
Subscription
(Times)
Market Maker 1 0.16 1,34,000 1,34,000 1,34,000 1
Retail Individual Investors 547 88.51 12,56,000 10,94,000 10,94,000 0.87
Other than Retail Individual Investors 70 11.33 12,56,000 14,18,000 16,24,000 1.29
TOTAL 618 100.00 26,46,000 26,46,000 28,52,000 1.08

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on July 05,2017.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 55/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category are 1,34,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotmentto the Retail Individual Investors, at the issue price of Rs. 55/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.87 times. The total number of shares allotted in this category is 1094000 Equity Shares to 547 successful applicants.

The Category-wise details of the Basis of Allotment are as under:

No. of
Shares
Applied for
(Category
wise)
No. of
Applications
received
%
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 the
Applicants
RATI01
Ratio of
Allottees
to the
Applicants
RATIO 2
Number of Successful applicants
(after rounding off)
Total No.
of Shares
allocated / allotted
No. of
Shares
Surplus / Deficit
2,000 547 100 10,94,000 100 12,56,000 2,000 2,000 1 1 547 10,94,000 1,62,000
Total 547 100 10,94,000 100 12,56,000 547 10,94,000 1,62,000

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs. 55/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.29 times. The total number of shares allotted in this category are 1418000 Equity Shares (after including spill over of 162000 Equity Shares from Retail Individual Investors category) to 67 successful applicants.

The Category-wise details of the Basis of Allotment are as under:

No. Of
Shares Applied
for (Category
wise)
No. of
Applications
received
% 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 the
Applicants
RATIO 1
Ratio of
Allottees
to the
Applicants
RATIO 2
Number of
Successful
applicants
(after
rounding off)
Total No.
of Shares
allocated /
allotted
No. Of
Shares
Surplus /
Deficit
4,000 23 32.86 92,000 5.67 80,330 3,492.61 4,000 20 23 20 80,000 -330
6,000 3 4.29 18,000 1.11 15,717 5,238.92 6,000 1 1 3 18,000 2,283
8,000 6 8.57 48,000 2.96 41,911 6,985.22 6,000 1 1 6 36,000 -5,911
10,000 6 8.57 60,000 3.69 52,389 8,731.53 8,000 1 1 6 48,000 -4,389
14,000 5 7.14 70,000 4.31 61,121 12,224.14 12,000 1 1 5 60,000 -1,121
16,000 4 5.71 64,000 3.94 55,882 13,970.44 14,000 1 1 4 56,000 118
18,000 4 5.71 72,000 4.43 62,867 15,716.75 16,000 1 1 4 64,000 1,133
20,000 5 7.14 1,00,000 6.16 87,315 17,463.05 18,000 1 1 5 90,000 2,685
34,000 1 1.43 34,000 2.09 29,687 29,687.19 30,000 1 1 1 30,000 313
48,000 1 1.43 48,000 2.96 41,911 41,911.33 42,000 1 1 1 42,000 89
50,000 3 4.29 1,50,000 9.24 1,30,973 43,657.64 44,000 1 1 3 1,32,000 1,027
54,000 1 1.43 54,000 3.33 47,150 47,150.25 48,000 1 1 1 48,000 850
62,000 1 1.43 62,000 3.82 54,135 54,135.47 54,000 1 1 1 54,000 -135
80,000 1 1.43 80,000 4.93 69,852 69,852.22 70,000 1 1 1 70,000 148
86,000 1 1.43 86,000 5.30 75,091 75,091.13 76,000 1 1 1 76,000 909
1,00,000 4 5.71 4,00,000 24.63 3,49,261 87,315.27 88,000 1 1 4 3,52,000 2,739
1,86,000 1 1.43 1,86,000 11.43 1,62,408 1,62,406.40 1,62,000 1 1 1 1,62,000 -408
Total 70 100.00 16,24,000 100.00 14,18,000 67 14,18,000 0

*Note: This category includes original reservation of 12,56,000 shares and spill over from Retail Individual Investors Category of 1,62,000 shares i.e. a total of 14,18,000 shares were available for allotment in this category.

The Board of Directors of the Company at its meeting held on July 05,2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and has authorized the corporate action forthe transfer of the Equity Shares to various successful applicants. The CAN and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories on or before July 07, 2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to July 06, 2017. In case the same is not received within four working days, investors may contact Registrar 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 for trading on NSE Emerge Platform within six 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 June 06, 2017 ('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 Registrarto 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:

BIGSHARE SERVICES PRIVATE LIMITED
Bharat Tin Works Building, 1 st Floor, Opp. Vasant Oasis, Makwana Road
Marol, Andheri East, Mumbai - 400 059
Tel: +91 22 62638200; Fax: +91 22 62638299
E-mail: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Mr. Jibu John; SEBI Registration No.: INR000001385

Date: July 06, 2017
Place: Uttarakhand
For PUSHPANJALI REALMS AND INFRATECH LIMITED
On behalf of the Board of Directors
Sd/-
Whole-Time Director

Pushpanjali Realms IPO Basis of Allotment FAQs

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

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

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