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SPS Finquest IPO Details

Issue Open May 21, 2014
Issue Close May 23, 2014
IPO Price ₹75
Face Value ₹10
IPO Size ₹25.08 Cr
Listing At BSE SME
IPO Lot Size 1600

SPS FINQUEST LIMITED

(C.I.N. - U67120MH1996PLC098051)

Our Company was originally incorporated in Mumbai as 'Ceenik Holding Pvt. Ltd.'on March 12, 1996 under the provisions of the Companies Act, 1956. The name of our Company was further changed to SPS Finquest Pvt Ltd. and a fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Mumbai on July 16, 2010. Our Company was converted into a public limited company and consequently, the name of our Company was changed to SPS Finquest Limited and a fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Mumbai on April 5, 2013.

The registered office of our company was originally situated at 225/A-l, Shah & Nahar Industrial Estate, S.J. Road, Lower Parel (West) Mumbai, Maharastra 400013. Further the registered office was shifted to Flat no 13-B, Jeevan Satyakam CHS, Ambedkar Road, Bandra (W), Mumbai 400050 w.e.f. 04/04/2009. Further again the registered office was shifted from Flat No 13-B, Jeevan Satyakam CHS, Ambedkar Road, Bandra (W), Mumbai 400050 to G-602, Keshav Kunj-1, Sector30, Vashi, Navi Mumbai, Thane 400703 w.e.f. 17/06/2010. Further again the registered office was shifted from G-602, Keshav Kunj-1, Sector 30, Vashi, Navi Mumbai, Thane 400703 to G-702, Keshav Kunj-1, Sector 30, Vashi, Navi Mumbai, Thane 400703 w.e.f. 02/04/2011. Further again the registered office was shifted from G-702, Keshav Kunj-1, Sector 30, Vashi, Navi Mumbai, Thane 400703 to R-514, 5th Floor, Routunda Building, Bombay Samachar Marg, Fort, Mumbai - 400001 w.e.f. 15/02/2013. For more details, please refer section titled 'History and Certain Corporate Matters' on Page No.: 80 of the Prospectus.

Registered Office: R-514,5th Floor, Rotunda Building, B. S. Marg, Fort, Mumbai - 400 001.
Tel. No. & Fax No.: 022-40224951/52/53/54.
Website: www.spsfinquest.co.in; E-mail: info@spsfinquest.co.in
Contact Person:
Pinal Rakesh Darji, Company Secretary & Compliance Officer. Tel. No.: 022-40224951;
E-mail: cs@spsfinquest.co.in

PROMOTERS: MR PRAMOD PREMCHAND SHAH & MR SANDEEP PRAMODKUMAR SHAH

PUBLIC ISSUE OF 33,44,000 EQUITY SHARES OF RS. 10/- EACH (EQUITY SHARES OF SPS FINQUEST LIMITED ('SPS', 'THE COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS. 75/- PER EQUITY SHARE (THE ISSUE PRICE) AGGREGATING TO RS. 2508 LACS (THE ISSUE). THE FACE VALUE OF THE SHARE IS RS.10/- EACH AND THE ISSUE PRICE IS 7.5 (SEVEN AND HALF) TIMES OF THE FACE VALUE. THE ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE 'SEBI REGULATIONS'). OUT OF THE PROPOSED ISSUE OF 33,44,000 EQUITY SHARES, 5,15,200 EQUITY SHARES ARE RESERVED FOR SUBSCRIPTION BY THE PROMOTERS AND 1,68,000 EQUITY SHARES ARE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER (AS DEFINED IN THE SECTION 'DEFINITIONS AND ABBREVIATIONS') (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE PORTION RESERVED FOR THE PROMOTERS AND THE MARKET MAKER i.e. ISSUE OF 26,60,800 EQUITY SHARES OF RS 10/- EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 74.24% AND 59.08% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THIS BEING A FIXED PRICE ISSUE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE 'SEBI REGULATIONS'), OUT OF THE NET OFFER OF 26,60,800 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVAILABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVESTORS AND OTHER INVESTORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50 % ON PROPORTIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE OF RS.75 IS 7.5 TIMES OF THE FACE VALUE ISSUE OPENED ON WEDNESDAY 21st MAY, 2014 AND CLOSED ON FRIDAY 23rd MAY, 2014

PROPOSED LISTING: TUESDAY 3' JUNE, 2014*

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of the BSE Limited ('BSE'). In terms of Chapter XB of SEBI (ICDR) Regulations, 2009 as amended from time to time, we are not required to obtain any in principle listing approval for the shares being offered in this Issue. However, our Company has received an approval letter dated 19th March, 2014 from BSE for using its name in the Offer Document for listing our shares on the SME Platform of the BSE. Forthe purpose of this Issue, the Designated Stock Exchange will be the BSE Limited ('BSE'). The trading is proposed to be commenced with effectfrom Tuesday, 3rd June, 2014.

* Subject to receipt of listing and trading approvals from the BSE Limited. All applicants were allowed to participate 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 'SCSB's').

SUBSCRIPTION DETAILS

The issue has received 234 applications for 3592000 Equity Shares resulting in 1.07 times subscription (including reserved portion of promoters and Market Makers). Promoters have brought in the Subscription amount of Rs.3,86,40,000 for 515200 Equity Shares one day prior to the opening of the issue i.e. on 20 May, 2014 under Non-ASBA mode towards Promoters contribution.The details of the applications received in the issue (before technical rejections and after cheque returns) are as follows: Detail of the Applications Received (Before Technical Rejection)

CATEGORY NO.OF
APPLICATIONS
% NO. OF
EQUITY SHARES
% SUBSCRIPTION
Market Maker 2 0.85 168000 4.68 1.00
Retail Individual Applicant 209 89.32 334400 9.31 0.25
Non Institutional Applicant 21 8.97 2574400 71.67 1.94
Promoters 2 0.85 515200 14.34 1.00
TOTAL 234 100 3592000 100 1.07

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

Technical Rejection/Withdrawal

CATEGORY NO. OF
APPLICATIONS
NO. OF
EQUITY SHARES
Market Maker Nil Nil
Retail Individual Applicant 4 6400
Non Institutional Applicant Nil Nil
Promoters Nil Nil
TOTAL 4 6400

After eliminating Technically Rejected applications, the following table gives the details of Category wise net valid applications:

After Technical Rejections

CATEGORY NO. OF APPLICATIONS % NO. OF
EQUITY
SHARES (VALID)
% SUBSCRIPTION NO. OF
EQUITY
SHARES (ALLOTTED)
Market Maker 2 0.87 168000 4.69 1.00 168000
Retail Individual Applicant 205 89.13 328000 9.15 0.25 328000
Non Institutional Applicant 21 9.13 2574400 71.80 1.10 2334400
Promoters 2 0.87 515200 14.37 1.00 515200
TOTAL 230 100 3585600 100 1.07 3345600

* In the event of under subscription in the retail category 1002400 were spilled over to other than retail individual investors category as terms of the Prospectus.

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 29th May, 2014.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 75/- 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 168000 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.75/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.25 times.The total number of shares allotted in this category is 328000 Equity Shares.

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 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 Total No.of Equity Shares Allotted Surplus/ (Deficit)
1600 205 100.00 328000 100.00 1330400 1600 1600 FIRM 328000 -1002400
Total 205 100.00 328000 100.00 1330400 - - - 328000 -1002400

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs. 75/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.10 times. The total number of shares allotted in this category is 2334400 Equity Shares (including spilled over shares from retail category).

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 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 Total No.of Equity Shares Allotted Surplus/ (Deficit)
4800 1 4.76 4800 0.19 4349.53 4349.53 4800 FIRM 4800 450.47
6400 2 9.52 12800 0.50 11598.76 5799.38 6400 FIRM 12800 1201.24
11200 1 4.76 11200 0.44 10148.91 10148.91 9600 FIRM 9600 -548.91
12800 1 4.76 12800 0.50 11598.76 11598.76 11200 FIRM 11200 -398.76
20800 1 4.76 20800 0.81 18847.98 18847.98 19200 FIRM 19200 352.02
27200 1 4.76 27200 1.06 24647.36 24647.36 24000 FIRM 24000 -647.36
32000 1 4.76 32000 1.24 28996.89 28996.89 28800 FIRM 28800 -196.89
40000 2 9.52 80000 3.11 72492.23 36246.12 36800 FIRM 73600 1107.77
67200 1 4.76 67200 2.61 60893.47 60893.47 60800 FIRM 60800 -93.47
99200 1 4.76 99200 3.85 89890.37 89890.37 89600 FIRM 89600 -290.37
136000 1 4.76 136000 5.28 123236.79 123236.79 123200 FIRM 123200 -36.79
160000 1 4.76 160000 6.22 144984.46 144984.46 145600 FIRM 145600 615.54
265600 1 4.76 265600 10.32 240674.21 240674.21 240000 FIRM 240000 -674.21
272000 2 9.52 544000 21.13 492947.17 246473.59 246400 FIRM 492800 -147.17
275200 4 19.05 1100800 42.76 997493.10 249373.28 249600 FIRM 998400 906.90
Total 21 100.00 2574400 100.00 2332800 - - - 2334400 1600

The Board of Directors of the Company at its meeting held on 30thMay, 2014 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Shares 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 on 31thMay, 2014. Further, the instructions of Self Certified Syndicate Banks are being dispatched on or prior to 31thMay, 2014. Incase the same is not received within lO days, investors may contact at the address given below. Refunds have been made through Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders / Pay Order/ Demand Draft are being dispatched to their address as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the bank mandate details as registered, if any, with the depositories. 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 to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within twelve working days from the date of 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 2ndMay, 2014. ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, UNIVERSAL CAPITAL SECURITIES PVT. LTD. at www.unisec.in. 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:

UNIVERSAL CAPITAL SECURITIES PVT. LTD.
SEBI Registration No.: INR000004082
21, Shakil Niwas, Opp. Saibaba Temple, Mahakali Caves Road, Andheri (E), Mumbai 400093.
Tel.: +
91-22-28207203-05, +91-22-28257641; Fax: +91 22 28207207.
E-mail:
ravi@unisec.in Website: www.unisec.in
Contact Person: Mr. Ravindra Utekar

Date: 30thMay, 2014
Place: Mumbai
For SPS FINQUEST LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary & Compliance Officer

SPS Finquest IPO Basis of Allotment FAQs

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

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

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