SoftTech Engineers IPO Details

Issue Open Apr 27, 2018
Issue Close May 3, 2018
IPO Price ₹80
Face Value ₹10
IPO Size ₹22.81 Cr
Listing At NSE SME
IPO Lot Size 1600

SOFTTECH ENGINEERS LIMITED

Our Company was incorporated as SoftTech Engineers Private Limited under the provisions of Companies Act 1956 vide Certificate of Incorporation dated June 17,1996 at Ahmedabad, Gujarat bearing registration no. 04-29960 of 1996-97. The Registered office of our Company was originally situated at 1008, City Center, A.C. Market, Parle Point, Surat. The Registered office of our Company was subsequently shifted to 1st Floor, Balaji House, Opposite Telephone Exchange, Bajirao Road, Pune -411030, Maharashtra pursuant to a special resolution passed by the shareholders of our Company at its extra-ordinary general meeting held on July 18,2000 and the order passed by the Company Law Board, Western Region Bench, Mumbai dated October 12, 2001. A certificate of registration of the order of the Company Law Board dated October 12,2001 confirming transfer of the registered office from State of Gujarat to the State of Maharashtra was Offerd by the Registrar of Companies, Pune on January 29, 2002. The Registered office of our Company was once again shifted to 259, Butte Patil Complex, Dashbhuja Ganpati, Karve Road, Pune - 411030 pursuant to Board resolution dated May 5, 2003. The Registered office of our Company was once again shifted to 'The Pentagon', Unit No. 5A, Near Satara Road Telephone Exchange, Shahu College Road, Parvati, Pune 411009 pursuant to Board resolution dated September 1,2005. The name of our Company was subsequently changed to Softtech Engineers Limited pursuant to special resolution passed by the shareholders of our Company at the EGM held on February 22,2018 and a fresh certificate of incorporation consequent upon conversion from Private Company to Public Company was Offerd by the RoC, Pune on March 1, 2018. For details of Incorporation, Change in the Name and Registered Office of our Company, please refer to the chapter titled "Our History and Certain Other Corporate Matters" beginning on page 176 of the Prospectus.

Registered Office: 'The Pentagon', Unit No. 5A, Near Satara Road Telephone Exchange, Shahu College Road, Parvati, Pune 411009 Maharashtra, India.
Tel No.: +91-020-24218747; Fax No.: +91-020-24218747; E-mail: investors@softtech-engr.com; Website: www.softtech-engr.com;
Corporate Identification Number: U30107PN1996PLC016718 Contact Person: Aishwarya Patwardhan, Company Secretary and Compliance Officer

PROMOTER OF OUR COMPANY: VIJAY GUPTA

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 28,51,200 EQUITY SHARES OF FACE VALUE OF 10/- EACH ("EQUITY SHARES") OF SOFTTECH ENGINEERS LIMITED ("COMPANY" OR "OFFERR") FOR CASH AT A PRICE OF 80/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 70 PER EQUITY SHARE) AGGREGATING RS. 2280.96 LAKHS ("THE OFFER") COMPRISING OF A FRESH OFFER OF 23,71,200 EQUITY SHARES AGGREGATING RS. 1896.96 LAKHS BY THE COMPANY ("FRESH OFFER") AND AN OFFER FOR SALE OF 4,80,000 EQUITY SHARES BY RAJASTHAN TRUSTEE COMPANY PRIVATE LIMITED A/C SME Tech Fund RVCF Trust II (REFERRED TO AS THE "SELLING SHAREHOLDER") AGGREGATING RS. 384.00 LAKHS BY THE SELLING SHAREHOLDER ("OFFER FOR SALE"). THE OFFER COMPRISES OF 1,44,000 EQUITY SHARES OF FACE VALUE RS. 10/- EACH FOR CASH AT A PRICE OF RS. 80/- PER EQUITY SHARE, AGGREGATING RS. 115.20 LAKHS WHICH WAS RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. OFFER OF 27,07,200 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 80/- PER EQUITY SHARE, AGGREGATING RS. 2165.76 Lakhs IS HEREINAFTER REFERED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 30.26% AND 28.73%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

Risks to Investors:

I. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoter vijay Gupta is Rs. 1.98.

II. 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 is 8.0 times the face value. The Offer Price (determined and justified by our Company and Selling Shareholder, in consultation with the BRLMs as stated in "Basis for Offer Price" on page 126 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. 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.
All Investors have participated in this Offer through ASBA process. For details in this regards, specific attention is invited to chapter "Offer Procedure" on page 273 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
THE OFFER PRICE IS RS. 80/- AND IS 8 TIMES THE FACE VALUE OF THE EQUITY SHARES
OFFER OPENED ON: FRIDAY, APRIL 27, 2018 AND CLOSED ON: THURSDAY, MAY 03, 2018

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Offer is being made for at least 25% of the post-Offer paid-up Equity Share capital of our Company / The Offer is being made in accordance with Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time ("SEBI (ICDR) Regulations"), wherein 49.94% of the Net Offer was available for allocation on a proportionate basis to QIBs. 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% 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. All investors participated in this Offer mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which will be blocked by SCSBs. For details, please refer to the section titled "Offer Information" beginning on page 262 of the Prospectus.
The Equity Shares of our Company Offered through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ('NSE EMERGE'), 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 April 17,2018 from NSE EMERGE for using its name in the Offer document for listing of our shares on the EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this Offer, EMERGE Platform of the National Stock Exchange of India Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Offer has received 26,112 applications for 8,56,83,200 Equity shares (Before Technical Rejections, Multiple Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 1,44,000 Equity Shares. The Offer was subscribed to the extent of 29.30 times as per the application data (before technical rejection, multiple rejections, bids not banked and invalid duplicate bids). After considering the technical rejections cases, the Offer was subscribed 28.44 times. The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)

CATEGORY NUMBER OF APPLICATIONS NUMBER OF EQUITY SHARES SUBSCRIPTION Amount (in Rs.)
MARKET MAKER 1 1,44,000 1.00 1,15,20,000.00
QIB 8 19,39,200 1.43 15,51,36,000.00
HNI 256 4,20,16,000 103.39 3,36,12,60,800.00
RETAIL 24,256 3,88,09,600 40.90 3,10,46,46,400.00
TOTAL 24,521 8,29,08,800 29.08 6,63,25,63,200.00

Final Demand

Sr. No Bid Price No of Equity Shares Bid for % to total Cumulative total Cumulative % of total
1. 78 1,52,000 0.18 1,52,000 0.18
2. 79 80,000 0.10 2,32,000 0.28
3. 80 7,13,12,000 85.21 7,15,44,000 85.49
4. CUT OFF 1,21,47,200 14.51 8,36,91,200 100.00
Total 8,36,91,200 100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - EMERGE Platform of the National Stock Exchange of India Limited on May 08,2018

A. Allocation to Market Maker (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Market Maker, at the Offer price of Rs. 80/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,44,000 Equity shares in full out of reserved portion of 1,44,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the Offer price of Rs. 80/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 40.36 times. Total number of shares allotted in this category is 9,48,800 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 % of total Proportionate Shares Available Allocation per
Applicant
(Before
Rounding Off)
Allocation
per
Applicant (After Rounding Off)
Ratio of Allottees to the Applicants Total No. of Equity Shares allotted Surplus / (Deficit)
1,600 23,933 100.00 3,82,92,800 100.00 9,48,800 39.64 1600.00 3:121 9,48,800 0

C. Allocation to Non Institutional Investor (After Technical Rejection and Multiple Rejections): The Basis of Allotment to Non Institutional Investors, at the Offer price of Rs. 80/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 100.17 times. Total number of shares allotted in this category is 4,06,400 Equity Shares. The category wise basis of allotment is as under:

No. of
Shares
applied for
(Category
wise)
Number of applications received % to total Total No.of Shares
applied
in each
category
% to total Propor
-tionate
shares available
Allocation per Applicant Ratio of Allottees to applicants Total No.
of Shares allocated/ allotted
Surplus/ Deficit
Before
rounding
off
After
rounding
off
3200 60 24.00 192000 0.47 1917 31.95 1600.00 1:60 1600 -317
4800 15 6.00 72000 0.18 719 47.93 1600.00 0:15 0 -719
6400 9 3.60 57600 0.14 575 63.89 1600.00 0:9 0 -575
8000 13 5.20 104000 0.26 1038 79.85 1600.00 1:13 1600 562
9600 3 1.20 28800 0.07 288 96.00 1600.00 0:3 0 -288
11200 10 4.00 112000 0.28 1118 111.80 1600.00 1:10 1600 482
12800 10 4.00 128000 0.31 1278 127.80 1600.00 1:10 1600 322
14400 6 2.40 86400 0.21 863 143.83 1600.00 1:6 1600 737
16000 9 3.60 144000 0.35 1438 159.78 1600.00 1:9 1600 162
17600 5 2.00 88000 0.22 879 175.80 1600.00 1:5 1600 721
19200 2 0.80 38400 0.09 383 191.50 1600.00 0:2 0 -383
20800 4 1.60 83200 0.20 831 207.75 1600.00 1:4 1600 769
22400 3 1.20 67200 0.17 671 223.67 1600.00 0:3 0 -671
24000 1 0.40 24000 0.06 240 240.00 1600.00 0:1 0 -240
25600 7 2.80 179200 0.44 1789 255.57 1600.00 1:7 1600 -189
28800 5 2.00 144000 0.35 1438 287.60 1600.00 1:5 1600 162
30400 1 0.40 30400 0.07 303 303.00 1600.00 0:1 0 -303
32000 3 1.20 96000 0.24 958 319.33 1600.00 1:3 1600 642
36800 1 0.40 36800 0.09 367 367.00 1600.00 0:1 0 -367
38400 1 0.40 38400 0.09 383 383.00 1600.00 0:1 0 -383
40000 2 0.80 80000 0.20 799 399.50 1600.00 1:2 1600 801
41600 1 0.40 41600 0.10 415 415.00 1600.00 0:1 0 -415
48000 1 0.40 48000 0.12 479 479.00 1600.00 0:1 0 -479
49600 2 0.80 99200 0.24 990 495.00 1600.00 1:2 1600 610
51200 2 0.80 102400 0.25 1022 511.00 1600.00 1:2 1600 578
52800 1 0.40 52800 0.13 527 527.00 1600.00 0:1 0 -527
54400 1 0.40 54400 0.13 543 543.00 1600.00 0:1 0 -543
56000 3 1.20 168000 0.41 1677 559.00 1600.00 1:3 1600 -77
60800 1 0.40 60800 0.15 607 607.00 1600.00 0:1 0 -607
62400 1 0.40 62400 0.15 623 623.00 1600.00 0:1 0 -623
64000 1 0.40 64000 0.16 639 639.00 1600.00 0:1 0 -639
65600 1 0.40 65600 0.16 655 655.00 1600.00 0:1 0 -655
67200 1 0.40 67200 0.17 671 671.00 1600.00 0:1 0 -671
68800 3 1.20 206400 0.51 2061 687.00 1600.00 1:3 1600 -461
70400 1 0.40 70400 0.17 703 703.00 1600.00 0:1 0 -703
72000 1 0.40 72000 0.18 719 719.00 1600.00 0:1 0 -719
No. of
Shares
applied for
(Category
wise)
Number of applications received % to total Total No.of
Shares
applied
in each
category
% to total Propor
-tionate
shares available
Allocation per Applicant Ratio of Allottees to applicants Total No.
of Shares
allocated/
allotted
Surplus/ Deficit
Before
rounding
off
After
rounding
off
73600 2 0.80 147200 0.36 1470 735.00 1600.00 1:2 1600 130
75200 1 0.40 75200 0.18 751 751.00 1600.00 0:1 0 -751
80000 3 1.20 240000 0.59 2396 798.67 1600.00 2:3 3200 804
81600 2 0.80 163200 0.40 1629 814.50 1600.00 1:2 1600 -29
88000 1 0.40 88000 0.22 879 879.00 1600.00 1:1 1600 721
89600 1 0.40 89600 0.22 895 895.00 1600.00 1:1 1600 705
91200 1 0.40 91200 0.22 910 910.00 1600.00 1:1 1600 690
92800 1 0.40 92800 0.23 926 926.00 1600.00 1:1 1600 674
94400 1 0.40 94400 0.23 942 942.00 1600.00 1:1 1600 658
96000 1 0.40 96000 0.24 958 958.00 1600.00 1:1 1600 642
99200 1 0.40 99200 0.24 990 990.00 1600.00 1:1 1600 610
107200 1 0.40 107200 0.26 1070 1070.00 1600.00 1:1 1600 530
120000 1 0.40 120000 0.29 1198 1198.00 1600.00 1:1 1600 402
124800 5 2.00 624000 1.53 6230 1246.00 1600.00 4:5 6400 170
126400 1 0.40 126400 0.31 1262 1262.00 1600.00 1:1 1600 338
161600 1 0.40 161600 0.40 1613 1613.00 1600.00 1:1 1600 -13
164800 1 0.40 164800 0.40 1645 1645.00 1600.00 1:1 1600 -45
168000 1 0.40 168000 0.41 1677 1677.00 1600.00 1:1 1600 -77
192000 1 0.40 192000 0.47 1917 1917.00 1600.00 1:1 1600 -317
222400 1 0.40 222400 0.55 2220 2220.00 1600.00 1:1 1600 -620
240000 1 0.40 240000 0.59 2396 2396.00 3200.00 1:1 3200 804
249600 1 0.40 249600 0.61 2492 2492.00 3200.00 1:1 3200 708
254400 1 0.40 254400 0.62 2540 2540.00 3200.00 1:1 3200 660
312000 1 0.40 312000 0.77 3115 3115.00 3200.00 1:1 3200 85
320000 1 0.40 320000 0.79 3195 3195.00 3200.00 1:1 3200 5
448000 1 0.40 448000 1.10 4473 4473.00 4800.00 1:1 4800 327
499200 4 1.60 1996800 4.91 19935 4983.75 4800.00 1:1 19200 -735
1249600 17 6.80 21243200 52.19 212081 12475.35 11200.00 1:1 190400 -21681
1249600 1600 additional sheres are allocaed for Serial no 64 in the ratio of 13:17 1600.00 13:17 20800 20800
2000000 2 0.80 4000000 9.83 39934 19967.00 19200.00 1:1 38400 -1534
2000000 1600 additional shares are allocated for Serial no 65 in the ratio of 1:2 1600.00 1:2 1600 1600
2707200 2 0.80 5414400 13.30 54055 27027.50 25600.00 1:1 51200 -2855
2707200 1600 additional shares are allocated for Serial no 66 in the ratio of 1:2 1600.00 1:2 1600 1600
250 100.00 4,07,07,200 100.00 4,06,400 0

D. Allocation to Qualified Institutional Investor (After Technical Rejection and multiple rejections)
Qualified Institutional Investor, at the Offer price of Rs. 80/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.43 times. Total number of shares allotted in this category is 13,52,000 Equity Shares. The category wise basis of allotment is as under:
The category -wise details of the Basis of Allotment are as under:

Category Fls/Banks MF's VC's Bodies Corporate AIF FN FPC Total
QIB - - 2,17,600 - 6,67,200 30,400 4,36,800 13,52,000

The IPO Commitee of the Board of Directors of the Company at its meeting held on May 09,2018 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 authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The Allotment cum refund advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs have been issued on May 09,2018 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 Offer at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the EMERGE Platform of the National Stock Exchange of India Limited within six working days from the date of the closure of the Offer.
The trading is proposed to commence on or before May 11,2018 subject to receipt of listing and trading approvals from NSE.

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-101,1 st floor, 247 Park, L.B.S. Marg, Vikhroli (West), 400083, Maharashtra, India
Tel: +91 22 49186200, Fax: +91 22 49186195
Email: softtech.ipo@linkintime.co.in, Website: www.linkintime.co.in
Investor Grievance Id: softtech.ipo@linkintime.co.in, Contact Person: Shanti Gopalkrishnan
SEBI Registration No: INR000004058

Date: May 09,2018

Place: Pune, Maharashtra

For SoftTech Engineers Limited
On behalf of the Board of Directors
Sd/-
Vijay Gupta
Chairman and Managing Director

SoftTech Engineers IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in SoftTech Engineers IPO?

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

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

    Visit the SoftTech Engineers IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is SoftTech Engineers IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in SoftTech Engineers 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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