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Ritco Logistics IPO Details

Issue Open Jan 28, 2019
Issue Close Jan 30, 2019
IPO Price ₹73
Face Value ₹10
IPO Size ₹48.18 Cr
Listing At BSE SME
IPO Lot Size 1600

Our Company was originally incorporated as "Ritco Logistics Private Limited" at Delhi as a Private Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated August 23, 2001, bearing Corporate Identification Number U60221DL2001PTC112167, issued by the Registrar of Companies, Delhi & Haryana. Subsequently, our Company was converted into Public Limited Company pursuant to a special resolution passed by members in an Extra Ordinary General Meeting held on May 02, 2018. Consequently, the name of our company was changed to Ritco Logistics Limited vide a fresh Certificate of Incorporation dated May 21, 2018, issued by the Registrar of Companies, Delhi. The Corporate Identification Number of our Company is U60221DL2001PLC112167. For details of Business, Incorporation, change of name and Registered Office of our Company, please refer to chapter titled "Our Business" and "Our History and Certain Other Corporate Matters" beginning on page 112 and 140 of the Prospectus.

Registered Office: 508, 5th Floor, Jyoti Shikhar Tower, District Centre, Janakpuri, New Delhi, India, 110058, Tel: 011 -25522158; Corporate Office: Ritco House, 336, Phase - II, Udyog Vihar, Gurugram, Haryana, India, 122006, Tel: 0124 - 4702300
E-mail: cs@ritcologistics.com; Website: www.ritcologistics.com Corporate Identification Number: U60221DL2001PLC112167 Contact Person: Rakesh Kumar Jha, Company Secretary and Compliance Officer
PROMOTERS OF OUR COMPANY: SANJEEV KUMAR ELWADHI AND MAN MOHAN PAL SINGH CHADHA
BASES OF ALLOTMENT

INITIAL PUBLIC OFFER OF 66,00,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") OF RITCO LOGISTICS LIMITED ("COMPANY" OR "OFFERER") FOR CASH AT A PRICE OF RS. 73/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 63/- PER EQUITY SHARE) AGGREGATING RS. 4,818.00 LAKHS (THE "OFFER") CONSISTING OF A FRESH ISSUE OF 50,00,000 EQUITY SHARES AGGREGATING RS. 3,650.00 LAKHS ("FRESH ISSUE") AND AN OFFER FOR SALE OF 16,00,000 EQUITY SHARES INCLUDING 8,33,000 EQUITY SHARES BY SANJEEV KUMAR ELWADHI AND 7,67,000 EQUITY SHARES BY MAN MOHAN PAL SINGH CHADHA ("THE SELLING SHAREHOLDER(S)") AGGREGATING RS. 1,168.00 LAKHS ("OFFER FOR SALE"). THE OFFER INCLUDES A RESERVATION OF 3,34,400 EQUITY SHARES OF FACE VALUE RS. 10/- EACH AT A PRICE OF RS. 73/- PER EQUITY SHARE AGGREGATING RS. 244.11 LAKHS FOR SUBSCRIPTION BY THE MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. NET OFFER OF 62,65,600 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 73/- PER EQUITY SHARE, AGGREGATING RS. 4,573.89 LAKHS IS HEREINAFTER REFERED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER CONSTITUTES 26.96 % AND 25.60 % RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Rule 19(2)(b)(l) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Offer has been made for at least 25% of the post- offer paid- up Equity Share capital of our Company. The Offer was made through the Book Building Process, in compliance with Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended the ("SEBI ICDR Regulations") wherein no reservation was made for Qualified Institutional Buyers ("QIBs"). Further, 50% of the Net Offer was available for allocation on a proportionate basis to Non-lnstitutional Investors and 50% of the Net Offer was available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. For further details please refer the section titled 'Offer Information' beginning on page 209 of the Prospectus. In terms of SEBI Circular No. CIR/CFD/POLICYCELL/11/2015 dated November 10, 2015 and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, all the investors (except Anchor Investors) applying in a public Offer were required to use only Application Supported by Blocked Amount (ASBA) process for application providing details of the bank account which will be blocked by the Self Certified Syndicate Banks (SCSBs) for the same. Further, pursuant to SEBI Circular No. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 01, 2018, Retail Individual Investors applying in public offer were required to use either Application Supported by Blocked Amount (ASBA) facility for making application or also can use UPI (Unified Payment Interface) as a payment mechanism with Application Supported by Blocked Amount for making application. For details in this regards, specific attention are invited to the chapter titled "Offer Procedure" beginning on page 218 of the Prospectus

Risks to Investors:

I. This being the first public Offer of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Offer Price as stated in "Basis for Offer Price" on page 93 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed on SME Platform of BSE Limited. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
II. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Sanjeev Kumar Elwadhi is Rs. 4.03 And Man Mohan Pal Singh Chadha Rs. 4.61.
THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
THE OFFER PRICE IS RS. 73.00/- PER EQUITY SHARES
BID/OFFER OPENED ON: MONDAY, JANUARY 28, 2019 AND
CLOSED ON: WEDNESDAY, JANUARY 30, 2019

The Equity Shares of our Company issued through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ('BSE SME'), in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In - Principle approval letter dated January 16, 2019 from BSE Limited for using its name in the Offer document for listing of our shares on the SME Platform of BSE Limited. For the purpose of this Offer, BSE Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Offer has received 2,039 applications for 87,16,800 Equity shares (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids) including Market Maker Application of 3,34,400 Equity Shares. The offer was subscribed to the extent of 1.32 times as per the application data (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids). After considering the technical rejections cases, the issue was subscribed 1.26 times.

The details of application received (Before Technical Rejection but after bids not banked and application banked but bid not registered)

S.N. Category Number of Applications Received Number of Shares Bid for Amount (Rs.)
1 Retail Individual Investors 1,809 28,94,400 21,12,73,600.00
2 Other then Retail Individual Investors 152 52,43,200 38,27,53,600.00
3 Market Maker 1 3,34,400 2,44,11,200.00
  TOTAL 1,962 84,72,000 61,84,38,400.00

Final Demand

PRICE SHARES % OF TOTAL CUMULATIVE TOTAL CUMULATIVE % OF TOTAL
71 14,400 0.16 14,400 0.16
72 12,800 0.15 27,200 0.31
73 63,72,800 72.98 64,00,000 73.29
Cut-off 23,32,800 26.71 87,32,800 100.00
TOTAL 87,32,800 100.00    

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on February 4, 2019.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 73.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 3,34,400 Equity shares in full out of reserved portion of 3,34,400 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. 73.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.89 times. Total number of shares allotted in this category is 28,08,000* Equity Shares. The category wise basis of allotment is as under:
Sr. No. 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 Ratio of Allottees to the Applicants Number of successful applicants (after rounding off) % of Total Total No. of Equity Shares Allotted % of Total Surplus/ (Deficit)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
1 1600 1755 100.00 2808000 100.00 3132800 1785.07 1600.00 1 1 1755 100.00 2808000 100.00 -324800
GRAND TOTAL 1755 100.00 2808000 100.00 3132800         1755 100.00 2808000 100.00 -324800
 
*The under subscribed portion of 3,24,800 Equity shares from Retail Investors Category have been spilled over to Other then Retail Individual Investors Category.
C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs. 73.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.50 times. Total number of shares allotted in this category is 34,57,600* Equity Shares. The category wise basis of allotment is as under:
Sr. No. 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 Ratio of Allottees to the Applicants Serial Number of Qualifying applicants Number of successful applicants (after rounding off) % of Total Total No. of Equity Shares Allotted % of Total Surplus/ (Deficit)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16)
1 3200 39 26.00 124800 2.40 82878 2125.08 1600.00 1 1   39 26.00 62400 1.80 -20478
                1600.00 1 3 2 1 0.00 20800 0.60 20800
2 4800 19 12.67 91200 1.75 60566 3187.68 3200.00 1 1 - 19 12.67 60800 1.76 234
3 6400 9 6.00 57600 1.11 38252 4250.22 3200.00 1 1 - 9 6.00 28800 0.83 -9452
- - - - - - - - 1600.00 2 3 2,3 - 0.00 9600 0.28 9600
4 8000 8 5.33 64000 1.23 42503 5312.88 4800.00 1 1 - 8 5.33 38400 1.11 -4103
                1600.00 1 4 4 - 0.00 3200 0.09 3200
5 9600 3 2.00 28800 0.55 19126 6375.33 6400.00 1 1 - 3 2.00 19200 0.56 74
6 11200 1 0.67 11200 0.22 7438 7438.00 8000.00 1 1 - 1 0.67 8000 0.23 562
7 12800 6 4.00 76800 1.48 51003 8500.50 8000.00 1 1 - 6 4.00 48000 1.39 -3003
                1600.00 1 3 - 1 0.00 3200 0.09 3200
8 14400 5 3.33 72000 1.38 47816 9563.20 9600.00 1 1 - 5 3.33 48000 1.39 184
9 16000 6 4.00 96000 1.84 63754 10625.67 9600.00 1 1 - 6 4.00 57600 1.67 -6154
                1600.00 2 3 1,3 - 0.00 6400 0.19 6400
10 17600 2 1.33 35200 0.68 23377 11688.50 11200.00 1 1 - 2 1.33 22400 0.65 -977
                1600.00 1 2 1 - 0.00 1600 0.05 1600
11 19200 2 1.33 38400 0.74 25502 12751.00 12800.00 1 1 - 2 1.33 25600 0.74 98
12 20800 3 2.00 62400 1.20 41440 13813.33 12800.00 1 1 - 3 2.00 38400 1.11 -3040
                1600.00 2 3 2,3 - 0.00 3200 0.09 3200
13 24000 2 1.33 48000 0.92 31877 15938.50 16000.00 1 1 - 2 1.33 32000 0.93 123
14 25600 2 1.33 51200 0.98 34002 17001.00 16000.00 1 1 - 2 1.33 32000 0.93 -2002
                1600.00 1 2 1 - 0.00 1600 0.05 1600
15 27200 4 2.67 108800 2.09 72255 18063.75 17600.00 1 1 - 4 2.67 70400 2.04 -1855
                1600.00 1 4 4 - 0.00 1600 0.05 1600
16 30400 2 1.33 60800 1.17 40378 20189.00 19200.00 1 1 - 2 1.33 38400 1.11 -1978
                1600.00 1 2 2 . 0.00 1600 0.05 1600
17 32000 7 4.67 224000 4.30 148760 21251.43 20800.00 1 1 - 7 4.67 145600 4.21 -3160
                1600.00 2 7 6,7 - 0.00 3200 0.09 3200
18 33600 2 1.33 67200 1.29 44628 22314.00 22400.00 1 1   2 1.33 44800 1.30 172
19 35200 1 0.67 35200 0.68 23377 23377.00 24000.00 1 1 - 1 0.67 24000 0.69 623
20 40000 1 0.67 40000 0.77 26564 26564.00 27200.00 1 1 - 1 0.67 27200 0.79 636
21 48000 3 2.00 144000 2.77 95631 31877.00 32000.00 1 1 - 3 2.00 96000 2.78 369
22 52800 1 0.67 52800 1.01 35065 35065.00 35200.00 1 1 - 1 0.67 35200 1.02 135
23 56000 1 0.67 56000 1.08 37190 37190.00 36800.00 1 1 - 1 0.67 36800 1.06 -390
24 67200 4 2.67 268800 5.16 178512 44628.00 43200.00 1 1 - 4 2.67 172800 5.00 -5712
                1600.00 3 4 1,2,3 -   4800 0.14 4800
25 68800 1 0.67 68800 1.32 45690 45690.00 44800.00 1 1 - 1 0.67 44800 1.30 -890
26 81600 1 0.67 81600 1.57 54191 54191.00 54400.00 1 1 - 1 0.67 54400 1.57 209
27 89600 2 1.33 179200 3.44 119008 59504.00 59200.00 1 1 - 2 1.33 118400 3.42 -608
28 96000 1 0.67 96000 1.84 63754 63754.00 64000.00 1 1 - 1 0.67 64000 1.85 246
29 128000 1 0.67 128000 2.46 85006 85006.00 84800.00 1 1 - 1 0.67 84800 2.45 -206
30 136000 7 4.67 952000 18.29 632229 90318.43 89600.00 1 1 - 7 4.67 627200 18.14 -5029
                1600.00 3 7 4,5,6 - 0.00 4800 0.14 4800
31 137600 1 0.67 137600 2.64 91381 91381.00 91200.00 1 1   1 0.67 91200 2.64 -181
32 300800 1 0.67 300800 5.78 199763 199763.00 200000.00 1 1 - 1 0.67 200000 5.78 237
33 547200 1 0.67 547200 10.51 363399 363399.00 363200.00 1 1 - 1 0.67 363200 10.50 -199
34 800000 1 0.67 800000 15.37 531285 531285.00 531200.00 1 1 - 1 0.67 531200 15.36 -85
GRAND TOTAL 150 100.00 5206400 100.00 3457600           151 100.00 3457600 100.00 0

*includes original reservation of 31,32,800 Equity shares and spill over from Retail Investors Category of 3,24,800 Equity shares.

"Please Note: Additional Lot of 1600 Shares allotted in applied category of 3200, 6400, 8000, 12800, 16000, 17600, 20800, 25600, 27200, 30400, 32000, 57200, and 136000 after proportionate allocation.

The Board of Directors of the Company at its meeting held on February 04, 2019 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.

The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on or before February 5, 2019. Further, the instructions to SCSBs has been issued on February 4, 2019 for unblocking of funds. 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. In case the same is not received within prescribed time, Investors may contact the registrar to the Issue at the address given below. 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 commence on or before February 07, 2019 subject to receipt of listing and trading approvals from BSE Limited.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400 083, Maharashtra, India
Tel: +91 22 4918 6200; Fax: +91 22 4918 6195; Email: ritco.ipo@linkintime.co.in Website: www.linkirrtime.co.in;
Investor Grievance Id: ritco.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan; SEBI Registration Number: INR000004058
For Ritco Logistics Limited
On behalf of the
Board of Directors
Sd/-
Date: February 05, 2019 Sanjeev Kumar Elwadhi
Place: New Delhi Chairman and Managing Director

Ritco Logistics IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Ritco Logistics IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Ritco Logistics 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 Ritco Logistics IPO basis of allotment status?

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

    Visit the Ritco Logistics IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Ritco Logistics IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Ritco Logistics 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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