Ranjeet Mechatronics IPO Details

Issue Open Sep 12, 2018
Issue Close Sep 17, 2018
IPO Price ₹25
Face Value ₹10
IPO Size ₹4.50 Cr
Listing At BSE SME
IPO Lot Size 6000

Our Company was originally incorporated as "Ranjeet Electric Private Limited" at Ahmedabad on June 10, 1993, under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Assistant Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Later on, the name of our Company was changed from "Ranjeet Electric Private Limited" to "Ranjeet Mechatronics Private Limited" and certificate to that effect was issued by Deputy Registrar of Companies, Registrar of Companies, Ahmedabad on February 3, 2016. Consequent up on the conversion of our Company from Private Limited Company to Public Limited Company, the name of our Company was changed to "Ranjeet Mechatronics Limited" and fresh Certificate of Incorporation was issued by the Deputy Registrar of Companies. Registrar of Companies, Ahmedabad on May 28, 2018. For details of change in name and registered office of our Company, please refer to section titled "History and Certain Corporate Matters" beginning on page no. 106 of the Prospectus.

Registered Office: Block A, Office No: 407, Dev Aurum, Anand Nagar Char Rasta, Prahlad Nagar Road, Ahmedabad-380 015;
Telephone No.: +91-79-4000 9390; Website: www.ranjeet.co.in; E-Mail: cs.compliance@ranjeet.co.in;
CONTACT PERSON: COMPANY SECRETARY AND COMPLIANCE OFFICER: MRS. FALGUNI PATEL
PROMOTERS OF THE COMPANY: MR. RAKESH VALLABHBHAI SWADIA AND MR. DEVARSHI RAKESH SWADIA
BASIS OF ALLOTMENT
RANJEET MECHATRONICS LIMITED - SME IPO

PUBLIC ISSUE OF 18,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH OF RANJEET MECHATRONICS LIMITED ("RANJEET" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 25 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 15 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 450.00 LAKH ("THE ISSUE"), OF WHICH 96,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 25 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 15 PER EQUITY SHARE AGGREGATING TO Rs. 24.00 LAKH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF 17,04,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH AT A PRICE OF Rs. 25 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 15 PER EQUITY SHARE AGGREGATING TO Rs. 426.00 LAKH IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.27% AND 25.82% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated September 6, 2018 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein (a) minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors and (b) The balance net offer of shares to the public shall be made available for allotment to i) individual applicants other than retail individual investors and ii) other investors including corporate bodies or institutions, irrespective of number of specified securities applied for. c) The unsubscribed portion in either of the categories specified in (a) or (b) above may be allocated to the applicants in the other category.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- EACH AND THE ISSUE PRICE IS Rs. 25/- EACH INCLUDING A SHARE PREMIUM OF Rs. 15/- PER EQUITY SHARE. THE ISSUE PRICE IS 2.5 TIMES OF THE FACE VALUE. ISSUE WAS OPENED ON WEDNESDAY, SEPTEMBERS, 2018 AND CLOSED ON MONDAY, SEPTEMBER 17, 2018.

The Equity Shares offered through the Prospectus are proposed to be listed on SME Platform of BSE Limited. In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time, our Company has received in principle approval letter dated August 28, 2018 from BSE Limited ("BSE") for using its name in the offer document for listing our shares on the SME Platform of BSE Limited. For the purpose of this Issue, the designated Stock Exchange will be the BSE Limited.

SUBSCRIPTION DETAILS

Details of Applications:

The Issue has received 8787 applications (before Technical Rejections) for 11,79,90,000 Equity Shares (Including Market Maker Application of 96,000 Equity Shares) resulting 65.55 times subscription. The details of the applications received in the issue (before technical rejections) are as follows:

Details of the valid Applications Received (before Technical Rejections & Withdrawal of Application):

Category Number of Applications Number of Equity Shares Subscription Ratio
Market Makers 1 96,000 1 Times
Non Retail Investor's 86 6,56,94,000 77.11 Times
Retail Individual Investor's 8700 5,22,00,000 61.27 Times
Total 8787 11,79,90,000 Overall 65.55 Times

Total 99 applications received in Retail Individual Investors Category for 5,94,000 Shares were rejected on technical grounds. Further, there was no withdrawal of application in any of the category.

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on September 21, 2018.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 25/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 96,000 Equity shares in full, out of reserved portion of 96,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal, if any): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 25/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 60.57 times. Total number of shares allotted in this category is 8,52.000Equity Share as under:
No. of Shares Applied for (Category wise) No. of Applications Received % 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 Serial Number of Qualifying applicants Number of Successful Applicants (After Rounding Off) % to Total Total No. of Equity Shares allocated/ allotted % to Total No. of Shares Surplus / Deficit
6000 8601 100 51606000 100 852000 99.06 6000 142:8601 As below 142 100 852000 100 0
Total 8601 100 51606000 100 852000         142 100 852000 100 0

Serial Number of Qualifying applicants - Retail Individual Investors

171, 264, 297, 444, 483, 538, 574, 630, 665, 848, 940, 997, 1123, 1181, 1214, 1274, 1308, 1367, 1400, 1456, 1491, 1549, 1642, 1732, 1767, 1859, 1915, 1952, 2042, 2135, 2160, 2195, 2229, 2317, 2339, 2377, 2411, 2433, 2525, 2615, 2651, 2687, 2705, 2780, 2802, 2837, 2873, 2893, 2966, 3019, 3054, 3166, 3239, 3264, 3335, 3355, 3392, 3484, 3520, 3666, 3724, 3884, 3908, 3975, 4069, 4182, 4216, 4255, 4272, 4457, 4493, 4525, 4584, 4677, 4768, 4825, 4987, 5003, 5045, 5101, 5135, 5174, 5195, 5229, 5261, 5319, 5351, 5412, 5448, 5470, 5505, 5561, 5630, 5656, 5725, 5838, 5904, 5926, 6090, 6147, 6202, 6239, 6273, 6366, 6419, 6457, 6482, 6546, 6606, 6699, 6732, 6789, 6916, 6975, 7008, 7031, 7101, 7123, 7159, 7193, 7249, 7285, 7466, 7525, 7558, 7648, 7707, 7765, 7801, 7892, 7925, 7949, 8019, 8042, 8076, 8112, 8167, 8316, 8407, 8442, 8534, 8591

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs. 25/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 77.11 times. Total number of shares allotted in this category is 8,52,000 Equity Shares. The category wise basis of allotment is as under:
No. of Shares Applied for (Category wise) No. of Applications Received % to Total Total No. of Equity Shares applied % to Total Proportionate Shares Avail able Allocation per Applicant (before Rounding Off) Allocation per Applicant (after Rounding Off) Ratio of Allottees to the Applicants Serial Number of Qualifying applicants Number of Successful Applicants (After Rounding Off) % to Total Total No. of Equity Shares allocated / allotted % to Total Surplus /(Deficit) (Rounded off)
12000 10 11.63 120000 0.18 1556 155.63 0.00 0:0   0 0.00 0 0.00 -1556
18000 2 2.33 36000 0.05 467 233.45 0.00 0:0   0 0.00 0 0.00 -467
24000 3 3.49 72000 0.11 934 311.26 0.00 0:0   0 0.00 0 0.00 -934
30000 2 2.33 60000 0.09 778 389.08 0.00 0:0   0 0.00 0 0.00 -778
36000 4 4.65 144000 0.22 1868 466.89 0.00 0:0   0 0.00 0 0.00 -1868
48000 1 1.16 48000 0.07 622 622.52 0.00 0:0   0 0.00 0 0.00 -622
72000 1 1.16 72000 0.11 934 933.78 0.00 0:0   0 0.00 0 0.00 -934
144000 1 1.16 144000 0.22 1868 1867.57 0.00 0:0   0 0.00 0 0.00 -1868
150000 1 1.16 150000 0.23 1945 1945.38 0.00 0:0   0 0.00 0 0.00 -1945
204000 1 1.16 204000 0.31 2646 2645.72 6000.00 1:1   1 1.64 6000 0.70 3354
222000 1 1.16 222000 034 2879 2879.17 6000.00 1:1   1 1.64 6000 0.70 3121
246000 1 1.16 246000 0.37 3190 3190.43 6000.00 1:1   1 1.64 6000 0.70 2810
300000 1 1.16 300000 0.46 3891 3890.77 6000.00 1:1   1 1.64 6000 0.70 2109
384000 1 1.16 384000 0.58 4980 4980.18 6000.00 1:1   1 1.64 6000 0.70 1020
396000 1 1.16 396000 0.60 5136 5135.81 6000.00 1:1   1 1.64 6000 0.70 864
426000 1 1.16 426000 0.65 5525 5524.89 6000.00 1:1   1 1.64 6000 0.70 475
432000 2 2.33 864000 132 11205 5602.70 6000.00 1:1   2 3.28 12000 1.41 795
438000 1 1.16 438000 0.67 5681 5680.52 6000.00 1:1   1 1.64 6000 0.70 319
444000 1 1.16 444000 0.68 5758 5758.33 6000.00 1:1   1 1.64 6000 0.70 242
450000 1 1.16 450000 0.69 5836 5836.15 6000.00 1:1   1 1.64 6000 0.70 164
456000 1 1.16 456000 0.69 5914 5913.96 6000.00 1:1   1 1.64 6000 0.70 86
462000 1 1.16 462000 0.70 5992 5991.78 6000.00 1:1   1 1.64 6000 0.70 8
468000 1 1.16 468000 0.71 6070 6069.60 6000.00 1:1   1 1.64 6000 0.70 -70
474000 2 2.33 948000 1.44 12295 6147.41 6000.00 1:1   2 3.28 12000 1.41 -295
486000 1 1.16 486000 0.74 6303 6303.04 6000.00 1:1   1 1.64 6000 0.70 -303
492000 1 1.16 492000 0.75 6381 6380.86 6000.00 1:1   1 1.64 6000 0.70 -381
498000 1 1.16 498000 0.76 6459 6458.67 6000.00 1:1   1 1.64 6000 0.70 -459
504000 1 1.16 504000 0.77 6536 6536.49 6000.00 1:1   1 1.64 6000 0.70 -536
516000 1 1.16 516000 0.79 6692 6692.12 6000.00 1:1   1 1.64 6000 0.70 -692
528000 1 1.16 528000 0.80 6648 6847.75 6000.00 1:1   1 1.64 6000 0.70 -848
534000 1 1.16 534000 0.81 6926 6925.56 6000.00 1:1   1 1.64 6000 0.70 -926
546000 1 1.16 546000 0.83 7081 7081.19 6000.00 1:1   1 1.64 6000 0.70 -1081
552000 1 1.16 552000 0.84 7159 7159.01 6000.00 1:1   1 1.64 6000 0.70 -1159
678000 1 1.16 678000 1.03 8793 8793.13 12000.00 1:1   1 1.64 12000 1.41 3207
852000 3 3.49 2556000 3.89 33149 11049.78 12000.00 1:1   3 4.92 36000 4.23 2851
900000 1 1.16 900000 1.37 11672 11672.30 12000.00 1:1   1 1.64 12000 1.41 328
1200000 3 3.49 3600000 5.48 46689 15563.07 12000.00 1:1   3 4.92 36000 4.23 -10689
              6000.00 2:3 1,3 0 0.00 12000 1.41 12000
1560000 1 1.16 1560000 2.37 20232 20231.98 18000.00 1:1   1 1.64 18000 2.11 -2232
1590000 1 1.16 1590000 2.42 20621 20621.06 18000.00 1:1   1 1.64 18000 2.11 -2621
1704000 25 29.07 42600000 64 85 552489 22099.55 18000.00 1:1   25 40.98 450000 5282 -102489
              6000.00 17:25 4, 6, 7, 8, 9, 10, 11, 12, 13, 15, 17, 18, 19, 20, 21, 24, 25 0 0.00 102000 11.97 102000
Total 86 100.00 65694000 100.00 852000         61 100.00 852000 100.00 0

The Board of Directors of the Company at its meeting held on September 24, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the transfer of the Equity Shares / dispatch of share certificates to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form. Further, the instructions to Self Certified Syndicate Banks were being processed on or before September 24, 2018. In case the same is not received 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 get the Equity Shares admitted for trading on the SME Platform of BSE Limited within Six working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before Wednesday, September 26, 2018 subject to receipt of final listing and trading approvals from the BSE.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Alankit Assignments Limited at http://www.alankit.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 the application had been lodged and payment details at the address of the Registrar given below:

ALANKIT ASSIGNMENTS LIMITED On behalf of the Board of Directors
Address: 205-208, Anarkali Complex, Jhandewalan For, Ranjeet Mechatronics Limited
Extn., New Delhi - 110 055, India Sd/-
Tel: +91 11 4254 1234; 2354 1234; Fax: +91 11 4154 3474; Rakesh Swadia
Website: www.alankit.com; Chairman Cum Managing Director
SEBI Registration Number: INR000002532; DIN: 00356657
Contact Person: Mr. Pankaj Goenka / Mr. Bojimon K H; Place: Ahmedabad
Email/ Investor Grievance E-mail: ranjeet_igr@alankit.com Date : September 24, 2018

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

Ranjeet Mechatronics IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Ranjeet Mechatronics IPO?

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

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

    Visit the Ranjeet Mechatronics IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Ranjeet Mechatronics IPO allotment process?

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








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