Sunstar Realty Development IPO Details

Issue Open Feb 18, 2013
Issue Close Feb 21, 2013
IPO Price ₹20
Face Value ₹10
IPO Size ₹10.62 Cr
Listing At BSE SME
IPO Lot Size 6000

SUNSTAR REALTY DEVELOPMENT LIMITED

Our Company was originally incorporated in Mumbai as 'Sunstar Realty Development Private Limited' on 30th June, 2008 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies Maharashtra, Mumbai. Our Company was subsequently converted in to a public limited company and consequently name was changed to 'Sunstar Realty Development Limited' vide fresh certificate of incorporation dated 16th October, 2012 issued by the Registrar of Companies Maharashtra, Mumbai. For further details in relation to the changes to the name of our Company, please refer to the section titled 'Our History and Corporate Structure' beginning on page 76 of the Prospectus.

Registered Office & Corporate Office: Office No. 23,Regus Business Centre, Ground Floor, Ismail Building, Opp Flora Fountain, DN Road, Fort, Mumbai - 400 001; Tel: 91-22-65341988, Fax: 91-22-61424950,
Email: info@sunstarrealtors.com; Website: www.sunstarrealtors.com,
Contact Person & Compliance Officer: Ms. Preeti Yadav, Company Secretary & Compliance Officer;
PROMOTERS OF THE COMPANY: MR. DIPAN JESINGBHAI PATEL, MRS. KAVITA PATEL & HEAVEN PETROCHEM PRIVATE LIMITED

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 53,10,000 EQUITY SHARES OF RS. 10/- EACH ('EQUITY SHARES') OF SUNSTAR REALTY DEVELOPMENT LIMITED ('SRDL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 20/- PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS. 1062.00 LACS ('THE ISSUE'), OF WHICH, 2,70,000 EQUITY SHARES OF RS. 10 EACH RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 50,40,000 EQUITY SHARES OF RS. 10 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.64% AND 25.29%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated 7th February, 2013 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be made available to shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies / institutions irrespective of no. of shares applied for. The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.
Explanation: for the purpose of Regulation 43 (4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE IS RS. 20 EACH. THE ISSUE PRICE IS 2.00 (TWO) TIMES OF THE FACE VALUE. ISSUE OPENED ON 18TH FEBRUARY, 2013 AND CLOSED ON 25TH FEBRUARY, 2013*. (Issue closing on 21 st February, 2013 was extended by two working days with a view to avoid any Investor Inconvenience due to Bank Strike announced on 20th and 21 st February 2013)

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE') in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, Company is not required to obtain an in-principle approval of the shares being offered in this Issue. However Company has received an approval letter dated 4th February, 2013 from BSE for using its name in the offer document for listing of our Shares on the SME platform of BSE. The designated stock exchange is 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 by Self Certified Syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 981 applications for 1,04,04,000 Equity Shares (Including Market Maker Application of 2,70,000 Equity Shares) resulting 1.96 times subscription. After considering, cheque return cases of 26 applications of 1,56,000 Equity Shares, the Issue was subscribed 1.93 times. The details of the applications received in the Issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection & withdrawal of application):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Market Makers 1 270000 1.00
Other than Retail Individual Investor's 264 5838000 2.32
Retail Individual Investor's 690 4140000 1.64
TOTAL 955 10248000 1.93

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

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Market Makers Nil Nil
Other than Retail Individual Investor's 8 228000
Retail Individual Investor's 33 198000
TOTAL 41 426000

Detail of the Applications Received (After Technical Rejection & withdrawal):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Market Makers 1 270000 1.00
Other than Retail Individual Investor's 256 5610000 2.23
Retail Individual Investor's 657 3942000 1.56
TOTAL 914 9622000 1.85

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 6th March, 2013.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 20/- 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 2,70,000 Equity shares in full out of reserved portion of 2,70,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs. 20/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.56 times. Total number of shares allotted in this category is 25,20,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied tor (Category wise) No. Of Application % to total Total No. at Equity Shares applied % of total Proportionate Shares Available Allocation per Applicant (Before
Rounding Off)
Allocation par Applicant (After Rounding Off) Ratio of Allotees ToThe applicants Total No. of Equity Shares allotted
6000 657 100 3942009 100 2520000 3835.62 6000 39.61 2520000
TOTAL 667 100 3942000 100 2520000 3835.62 6000 - 2520000

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. 20/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 2.23 times. Total number of shares allotted in this category is 25,68,000 Equity Shares including additional 48,000 Equity Shares for the purpose of rounding off to the nearest multiple of 6,000 Equity Shares (Lot Size). The category wise basis of allotment is as under

No. of Shares Applied for (Category wise) No. Of Application % 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 Allotees To The Applicant Total No. of Equity Shares allotted Surplus/ (Deficit)
12000 141 55.08 1692000 30.16 760043 5390.37 6000.00 FIRM 846000 85957
18000 26 10.16 468000 8.34 210225 8085.56 6000.00 FIRM 156000 (54225)
24000 31 12.11 744000 13.26 334203 10780.75 12000 FIRM 372000 37797
30000 30 11.72 900000 16.04 404278 13475.94 12000 FIRM 360000 (44278)
36000 9 3.52 324000 5.78 145540 16171.12 18000 FIRM 162000 16460
42000 3 1.17 126000 2.25 56599 18866.31 18000 FIRM 54000 (2599)
48000 5 1.95 240000 4.28 107808 21561.50 24000 FIRM 120000 12192
72000 1 0.39 72000 1.28 32342 32342.25 30000 FIRM 30000 (2342)
84000 3 1.17 252000 4.49 113198 37732.62 36000 FIRM 108000 (5198)
90000 1 0.39 90000 1.60 40428 40427.81 42000 FIRM 42000 1572
102000 2 0.78 204000 3.64 91636 45818.18 48000 FIRM 96000 4364
120000 2 0.78 240000 4.28 107807 53903.74 54000 FIRM 108000 193
126000 1 0.39 126000 2.25 56599 56598.93 54000 FIRM 54000 (2599)
132000 1 0.39 132000 2.35 59294 59294.12 60000 FIRM 60000 706
TOTAL 256 100 5610000 100 2520000 2568000 48000

The Board of Directors of the Company at its meeting held on 7th March, 2013 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 on or before 8th March, 2013. Further, the instructions to Self Certified .Syndicate Banks being processed on or prior to 8th March, 2013. 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 Twelve working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before 11 th March, 2013 subject to receipt of listing and trading approvals from BSE Limited.

INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Sharepro Services (India) Private Limited at www.shareproservices.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:

SHAREPRO SERVICES (INDIA) PVT. LTD.
Building No. 13 AB, 2nd Floor, Samhita Warehousing Complex,
Sakinaka Telephone Exchange Lane, Off Andheri-Kurla Road,
sakinaka, Andheri (E), Mumbai - 400 072
Tel: 022 6191 5402/022 6191 5404, Fax: 022 6191 5444
E-mail: sme.ipo@shareproservices.com Website: www.shareproservices.com

Place: Mumbai
Date : 07.03.2013
For Sunstar Realty Development Limited
Sd/-
Kavita Patel
Executive Director

Sunstar Realty Development IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Sunstar Realty Development IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Sunstar Realty Development 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 Sunstar Realty Development IPO basis of allotment status?

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

    Visit the Sunstar Realty Development IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Sunstar Realty Development IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Sunstar Realty Development 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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