Sheetal Cool Products IPO Details

Issue Open Oct 16, 2017
Issue Close Oct 18, 2017
IPO Price ₹80
Face Value ₹10
IPO Size ₹24.00 Cr
Listing At BSE SME
IPO Lot Size

(This is only an advertisement for information purpose and not a Prospectus announcement.)

SHEETAL COOL PRODUCTS LIMITED

Corporate Identification Number: U15205GJ2013PLC077205

Our Company was originally formed as a sole proprietorship under the name M/s. Shree Shital Industries in the year 2000. Subsequently sole proprietorship was converted into a partnership firm under the name M/s. Shree Shital Industries, pursuant to partnership deed dated June 17, 2013. Further; the name of the partnership firm was changed to Shital Cool Products on September 11, 2013. Shital Cool Products was there after converted from a partnership firm to a Private Limited Company under Part IX of the Companies Act, 1956 with the name of Sheetal Cool Products Private Limited and received a certificate of incorporation from the Registrar of Companies, Gujarat, Dadra and Nagar Havelli on October 14,2013. Our Company was subsequently converted into a public limited Company pursuant to special resolution passed at the Extra-ordinary General Meeting of our Company held on July 24, 2017 and the name of our Company was changed to Sheetal Cool Products Limited. A fresh certificate of incorporation consequent upon conversion to public limited Company was issued by the Assistant Registrar of Companies. Ahmedabad dated August 10,2017. For further details of our Company, please refer 'General Information' and 'History and Certain Other Corporate Matters' on page numbers 35 and 85, respectively, of the Prospectus.

Registered Offce: G I D C, Plot No. 76-79-80, Amreli-365601, Gujarat, India. | Contact Person: Dhaval P. Ghetia, Company Secretary and Compliance Officer
Tel: +91-279-2240501 | E-mail: cssheetal9@gmail.com | Website: www.sheetalicecream.com

PROMOTERS OF OUR COMPANY: BHUPATBHAI D. BHUVA, DINESH KUMAR D. BHUVA. SANJAY D. BHUVA.
NAYNABEN B. BHUVA, KAJALBEN D. BHUVA  AND ASMITABEN S. BHUVA

BASIS OF ALLOTMENT

PUBLIC ISSUE 0F 30,00,000 EQUITY SHARES OF A FAC E VALUE OF RS 10 EACH (THE' EQUITY SHARES') OF SHEETAL COOL PRODUCTS LIMITED ('OUR COMPANY' OR 'SCPL' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 80 PER EOUITY SHARE INCLUDING A SHARE PREMIUM OF RS 70.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 2400.00 LAKHS ('THE ISSUE') OF WHICH 1,68,000 EQUITY SHARES AGGREGATING TO RS. 134.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 28,32,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 80.00 PER EQUITY SHARE AGGREGATING T0 RS 2266.50 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSLE WILL CONSTITUTE 28.57% AND 26.97%. RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY FOR FURTHER DETAILS, PLEASE REFER TERMS OF THE ISSUE' ON PAGE 167 OF THE PROSPECTUS,

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE 'SEBI ICDR REGULATIONS'), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS. PLEASE REFER T0 SECTION TITLED 'ISSUE PROCEDURE'' BEGINNING ON PACE 174 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH.
THE ISSUE PRICE IS RS 80.00.  THE ISSUE PRICE IS 8.00 TIMES THE FACE VALUE.
ISSUE OPENED ON MONDAY OCTOBER 16, 2017 AND CLOSED ON WEDNESDAY, OCTOBER 18, 2017.

The Equity Shares offered Through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE SME') in terms of the chapter XB of the SEBI (ICDR) Regulations. 2009 as amended from time to time. Our Company has received an approval letter dated October 06, 2017 from BSE Limited for using its name in the offer document for listing of our Shares on the SME platform of BSE Limited. The designated stock exchange is BSE Limited ('BSE'). The trading is proposed to be commenced on or about October 30,2017*.
*Subject to receipt of listing and trading approvals from BSE Limited.

All Applicants were allowed to participate in the Issue through Application Supported by Blocked Amount ('ASBA') process by providing the details of the respective bank accounts  in which the corresponding application amounts were blocked hy Self Certified Syndicate Banks; (the 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 15,253 applications for 9,34,12,800 Equity Shares (Before Technical Rejections but after invalid bids and bids not banked / blocked) (including Market Maker Application of 1,68,000 Equity Shares) resulting In 31.14 times subscription, After considering, a Technical Rejection case, the issue was subscribed 30.92 times (including the Market Maker Portion). The details of the applications received in the issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection):

Category Number of
Applications
% to
Total
No. of
Equity Shares
% to
Total
Subscripiion
(Times)
Market Maker 1 0.01 1,68,000 0.18 1.00
Retail Investors 15,002 98.35 24,003,200 25.70 16.95
Other than Individual Investors 250 1.64 69,541,600 74.12 48.90
TOTAL 15,253 100.00 9,34,12,800 100.00

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

Category No. of
Applications
No. of
Equity Shares
Market Maker Nil Nil
Retail Individual Investors 235 3,76,000
Other than Retail individual investors 2 2,75,200
TOTAL 237 6,51,200

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

Category Number of
Applications
% to
Total
Proportionate
Shares Available
No. of Valid
Shares applied
% of
Total Applied
Subscription
Times
Market Maker 1 0.01 1,68,000 1,68,000 0.18 1.
Retail Individual Investors 14,767 98.34 14,16,000 23,627,200 25.47 16.68
Other than Retail individual investors 248 1.65 14,16,000 68,966,400 74.35 48.70
TOTAL 15016 100.00 30,00,000 9,27,61,600 100.00 30.92

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on October 25, 2017.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 80 per Equity Share, was finalised in consultation with BSE The category was subscribed by 1.00 times. The total number of shares allotted In this category is 1,68,000 Equity shams.

B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue pice of Rs 60 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 16.68 times. Total number of shares allotted in this category is 14,16,000 Equity Shares to 885 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
Equity
Shares
applied in
this
Category
% to
Total
Proportionate
Shares Available
Allocation
per Applicant
(Before:
Rounding Off)
Allocation
per
Applicant
(After
Rounding Off)
Ratio of
Allottees
to
Applicants
Number of
Successful
applicant
(after
rounding off)
Total No.
Of Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
1600 14767 100.00 23627200 100.00 1416000 95.89 1600 885:14767 885 1416000 0
TOTAL 14767 100.00 23627300 100.00 1416000 885 1416000 0

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the Issue price of Rs 80 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 48.70 times. Total number of shares allotted in this category is 14,16,000 Equity Shares to 120 successful applicants.

The category wise basis of allotment is as under (SAMPLE):

No. of Shares
Applied for
(Category
wise)
No of
Applications
received
% to
Total
Total No. of
Equity
Shares
applied in
this
Category
% to
Total
Proportionate
Shares Available
Allocation
per Applicant
(Before:
Rounding Off)
Allocation
per
Applicant
(After
Rounding Off)
Ratio of
Allottees
to
Applicants
Number of
Successful
applicant
(after
rounding off)
Total No.
Of Shares
allocated/
allotted
No. of
Shares
Surplus/
Deficit
3200 57 22.98 182400 0.26 3745 65.70 1600 2:57 2 3200 545
4800 24 9.68 115200 0.17 2365 98.55 1600 1:24 1 1600 765
6400 9 3.63 57600 0.08 1183 131.40 1600 1:9 1 1600 -417
8000 4 1.61 32000 0.05 657 164.25 1600 1:4 1 1600 -943
9600 5 2.02 48000 0.07 986 197.10 1600 1:5 1 1600 -614
11200 4 1.61 44800 0.06 920 229.96 1600 1:4 1 1600 -680
12800 3 1.21 38400 0.06 788 262.81 1600 1:3 1 1600 -812
14400 3 1.21 43200 0.06 887 295.66 1600 1:3 1 1600 -713
16000 5 2.02 80000 0.12 1613 328.51 1600 1:5 1 1600 43
17600 6 2.02 88000 0.13 1807 361.36 1600 1:5 1 1600 207
19200 8 3.23 153600 0.22 3154 394.21 1600 1:4 2 3200 -46
20800 1 0.40 20800 0.13 427 427.06 1600 1:1 1 1600 -1173
22400 2 0.81 44800 0.06 920 459.91 1600 1:2 1 1600 -680
24000 7 2.82 168000 0.24 3449 492.76 1600 2:7 2 3200 249
25600 1 0.40 25600 0.04 526 525.61 1600 1:1 1 1600 -1074
27200 3 1.21 81600 0.12 1675 558.46 1600 1:3 1 1600 75
28800 2 0.81 57600 0.08 1183 591.31 1600 1:2 1 1600 -417
30400 1 0.40 30400 0.04 624 624.16 1600 1:1 1 1600 -976
32000 3 1.21 96000 0.14 1971 657.02 1600 1:3 1 1600 371
36800 1 0.40 36800 0.05 756 755.57 1600 1:1 1 1600 -844
TOTAL 248 100.00 68966400 100.00 1416000 120 1416000 0

The Board of Directors of the Company at its meeting held on October 25, 2017 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 allotment of shares in dematerialzed form to various successlul applicants.

The CAN and allotment advice and/or rejection letters will be dispatch to the address of the Applicants as registered with the depositories / as filled in the applicatinn form on October 27, 2017 Further, the instructions to Self Certified Syndicate Banks being processed on October 25,2017, In case the same is not received within prescribed time, 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.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated October 09, 2017 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be Hosted on the website of the Registrar to the Issue KARVY COMPUTERSHARE PRIVATE LIMITED at www.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 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:

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 40-23431551; E-mail: inward.ris@karvy.com 
Investor grievance email: scpl.ipo@karvy.com ; Website: www.karisma.karvy.com
Contact Person: M Murli Krishna: SEBI Registration No.: INR000000221

Place : Amreli, Gujarat
Date:
October 26, 2017
For Sheetal Cool Products Limited
On behalf of the Board of Directors
Sd/-
Bhupatbhai D. Bhuva
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT OF TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF SHEETAL COOL PRODUCTS LIMITED.

Sheetal Cool Products IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Sheetal Cool Products IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Sheetal Cool Products 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 Sheetal Cool Products IPO basis of allotment status?

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

    Visit the Sheetal Cool Products IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Sheetal Cool Products IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Sheetal Cool Products 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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