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Our Company was originally incorporated as "Surani Steel Private Limited" a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated July 31, 2012 issued by the Registrar of Companies Gujarat, Dadra & Nagar Haveli. Further, the name of our Company was changed to "Surani Steel Tubes Private Limited" pursuant to special resolution passed by shareholders of the Company in the Extra- ordinary General Meeting held on August 07, 2018 and a fresh Certificate of Incorporation dated August 13, 2018, was issued by the Registrar of Companies, Ahmedabad. Subsequently, our Company was converted into a Public Limited Company pursuant to shareholders resolution passed at Extra-ordinary General Meeting of our Company held on August 29, 2018 and the name of our Company was changed to Surani Steel Tubes Limited and a fresh Certificate of Incorporation consequent upon Conversion of Private Company to Public Limited dated September 12, 2018 was issued by the Registrar of Companies, Ahmedabad. For further details of Incorporation, Change of Name and Registered Office of our company, please refer to chaptertitled "General Information" and "Our History and Certain Other Corporate Matters" beginning on page 71 and page 155 of the Prospectus.
| Registered Office: S. No. 110, 115, Opp. Vinayak TMT, Bayad Road, Sampa, Tal. Dahegam, Gandhinagar, Gujarat- 382 315, India |
| Tel. No.: +91 9825515372; Fax No.: NA Email: cs@suranisteel.com; Website: www.suranisteel.com |
| Contact Person: Hetal Bhansali, Company Secretary and Compliance Officer Corporate Identification Number: U27109GJ2012PLC071373 |
| PROMOTERS OF OUR COMPANY: |
| MUKESH PATEL, DINESH PATEL, KARSHAN PATEL, PRAKASH PATEL, MANI PATEL, KARSANBHAI DEVJIBHAI PATEL HUF & PRAKASH KARSANBHAI PATEL HUF |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF 24,84,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF 52/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 42/- PER EQUITY SHARE) AGGREGATING RS. 1291.68/- LAKHS (THE "ISSUE") OF WHICH 1,26,000 EQUITY SHARES OF FACE VALUE RS. 10/- EACH FOR CASH AT A PRICE OF RS. 52/- PER EQUITY SHARE, AGGREGATING RS. 65.52/- LAKHS HAS BEEN RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 23,58,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 52/- PER EQUITY SHARE, AGGREGATING RS. 1226.16/- LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTE 29.99 % AND 28.46 %, RESPECTIVELY OF THE FULLY DILUTED POST ISSUE 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 Promoters viz. Mukesh Patel, Dinesh Patel, Karshan Patel, Prakash Patel, Mani Patel, Karsanbhai Devjibhai Patel HUF & Prakash Karsanbhai Patel HUF are Rs. 10.23, Rs. 16.83, Rs. 7.55, Rs. 5.88, Rs. 16.75, Rs. 5.11 and Rs. 9.20 respectively. |
In terms of Prospectus dated January 30, 2019 and as per SEBI (ICDR) Regulations, 2009 wherein:
The allocation in the Net Issue to the public category has been made as follows:
| A. | minimum fifty percent to retail individual investors; and, | |
| B. | remaining to: | |
| (i) | individual applicants other than retail individual investors; and | |
| (ii) | other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for; | |
| C. | the unsubscribed portion in either of the categories specified in clauses (a) or (b) may be allocated to applicants in the other category. | |
If retail individual investors are entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage. All Bidders where mandatorily required to participate in the issue through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of their respective bank account which will be blocked by Self-Certified Syndicate Banks ("SCSB") participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 240 of the Prospectus.
| THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH. |
| THE ISSUE PRICE IS RS. 52/- AND IS 5.20 TIMES THE FACE VALUE OF THE EQUITY SHARES |
| ISSUE OPENED ON: FRIDAY, JANUARY 25, 2019 AND CLOSED ON: TUESDAY, JANUARY 29, 2019 |
The Equity Shares of our Company issued 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 In - Principle approval letter dated October 26, 2018 from National Stock Exchange of India Limited 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 Issue, National Stock Exchange of India Limited is the Designated Stock Exchange.
SUBSCRIPTION DETAILS
The Issue has received 925 applications for 36,44,000 Equity shares (before rejections and before bids not banked but after invalid Multiple / Duplicate bid) including Market Maker Application of 1,26,000 Equity Shares. The issue was subscribed to the extent of 1.47 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 1.36 times.
The details of application received (Before Technical Rejection but after bids not banked)
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES | SUBSCRIPTION |
| Market Maker | 1 | 1,26,000 | 1.00 |
| Other than Retail Individual Investor | 147 | 19,10,000 | 1.62 |
| Retail Individual Investors | 733 | 14,66,000 | 1.24 |
| Total | 881 | 35,02,000 | 1.41 |
Final Demand:
| SN. | Bid Price | No. of Equity Shares | % to total | Cumulative total | % of cumulative total |
| 1 | 51 | 84,000 | 2.30 | 84,000 | 2.30 |
| 2 | 52 | 25,38,000 | 69.57 | 26,22,000 | 71.88 |
| 3 | Cut Off | 10,26,000 | 28.13 | 36,48,000 | 100.00 |
| � | Total | 36,48,000 | 100.00 | � | � |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on February 01, 2019.
| A. | Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 52/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1,26,000 Equity shares in full out of reserved portion of 1,26,000 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. 52/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.13 times. Total number of shares allotted in this category is 11,80,000 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 | % to total | Proportionate Shares Available | Allocation per Applicant | Ratio of Allottees to the Applicants | Total No. of Equity Shares Allotted | % of Total | Surplus/ (Deficit) | |
| (1) | (2) | (3) | (4) | (5) | (6) | Before Rounding off (7) | After Rounding off (8) | (9) | (10) | (11) | (12) |
| 2,000 | 669 | 100.00 | 13,38,000 | 100.00 | 11,80,000 | 1,763.83 | 2,000 | 590 | 669 | 11,80,000 | 100.00 | 0 |
| � | |
| 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 52/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.62 times. Total number of shares allotted in this category is 11,78,000 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 | % to total | Proportionate Shares Available | Allocation per Applicant | Ratio of Allottees to the Applicants | Total No. of Equity Shares Allotted | % of Total | Surplus/ (Deficit) | ||
| (1) | (2) | (3) | (4) | (5) | (6) | Before Rounding off (7) | After Rounding off (8) | (9) | (10) | (11) | (12) | |
| 4,000 | 55 | 37.41 | 2,20,000 | 11.51 | 1,35,687 | 2,467.04 | 2,000 | 1 | 1 | 1,10,000 | 9.33 | -25,687 |
| � | � | � | � | � | � | � | 2,000 | 13 | 55 | 26,000 | 2.20 | 26,000 |
| 6,000 | 34 | 23.12 | 2,04,000 | 10.68 | 1,25,818 | 3,700.53 | 2,000 | 1 | 1 | 68,000 | 5.77 | -57.818 |
| � | � | � | � | � | � | � | 2,000 | 29 | 34 | 58,000 | 4.92 | 58,000 |
| 8,000 | 9 | 6.12 | 72,000 | 3.76 | 44,406 | 4,934 | 4,000 | 1 | 1 | 36,000 | 3.05 | -8,406 |
| � | � | � | � | � | � | � | 2,000 | 4 | 9 | 8,000 | 0.67 | 8,000 |
| 10,000 | 16 | 10.88 | 1,60,000 | 8.38 | 98,681 | 6,167.56 | 6,000 | 1 | 1 | 96,000 | 8.14 | -2,681 |
| � | � | � | � | � | � | � | 2,000 | 1 | 16 | 2,000 | 0.16 | 2,000 |
| 12,000 | 3 | 2.04 | 36,000 | 1.88 | 22,203 | 7,401 | 6,000 | 1 | 1 | 18,000 | 1.52 | -4,203 |
| � | � | � | � | � | � | � | 2,000 | 2 | 3 | 4,000 | 0.33 | 4,000 |
| 16,000 | 4 | 2.72 | 64,000 | 3.35 | 39,472 | 9,868 | 10,000 | 1 | 1 | 40,000 | 3.39 | 528 |
| 18,000 | 4 | 2.72 | 72,000 | 3.77 | 44,406 | 11,101.5 | 10,000 | 1 | 1 | 40,000 | 3.39 | -4,406 |
| � | � | � | � | � | � | � | 20,00 | 1 | 2 | 4,000 | 0.33 | 4,000 |
| 20,000 | 5 | 3.40 | 1,00,000 | 5.24 | 61,675 | 12,335 | 12,000 | 1 | 1 | 60,000 | 5.09 | -1,675 |
| � | � | � | � | � | � | � | 2,000 | 1 | 5 | 2,000 | 0.16 | 2,000 |
| 22,000 | 3 | 2.04 | 66,000 | 3.46 | 40,706 | 13,568.67 | 12,000 | 1 | 1 | 36,000 | 3.05 | -4,706 |
| � | � | � | � | � | � | � | 2,000 | 2 | 3 | 4,000 | 0.33 | 4,000 |
| 24,000 | 1 | 0.68 | 24,000 | 1.26 | 14,802 | 14,802 | 14,000 | 1 | 1 | 14,000 | 1.18 | -802 |
| 28,000 | 1 | 0.68 | 28,000 | 1.47 | 17,269 | 17,269 | 18,000 | 1 | 1 | 18,000 | 1.52 | 731 |
| 30,000 | 2 | 1.36 | 60,000 | 3.14 | 37,005 | 18,502.5 | 18,000 | 1 | 1 | 36,000 | 3.05 | -1,005 |
| � | � | � | � | � | � | � | 2,000 | 1 | 2 | 2,000 | 0.16 | 2,000 |
| 36,000 | 1 | 0.68 | 36,000 | 1.88 | 22,203 | 22,203 | 22,000 | 1 | 1 | 22,000 | 1.86 | -203 |
| 40,000 | 1 | 0.68 | 40,000 | 2.09 | 24,670 | 24,670 | 24,000 | 1 | 1 | 24,000 | 2.03 | -670 |
| 46,000 | 1 | 0.68 | 46,000 | 2.41 | 28,371 | 28,371 | 28,000 | 1 | 1 | 28,000 | 2.37 | -371 |
| 50,000 | 2 | 1.36 | 1,00,000 | 5.24 | 61,675 | 30,837.5 | 30,000 | 1 | 1 | 60,000 | 5.09 | -1,675 |
| � | � | � | � | � | � | � | 2,000 | 1 | 2 | 2,000 | 0.16 | 2,000 |
| 90,000 | 1 | 0.68 | 90,000 | 4.71 | 55,508 | 55,508 | 56,000 | 1 | 1 | 56,000 | 4.75 | 492 |
| 1,00,000 | 3 | 2.04 | 3,00,000 | 15.71 | 1,85,026 | 61,675.33 | 62,000 | 1 | 1 | 1,86,000 | 15.78 | 974 |
| 1,92,000 | 1 | 0.68 | 1,92,000 | 10.05 | 1,18,417 | 1,18,417 | 1,18,000 | 1 | 1 | 1,18,000 | 10.01 | -417 |
| Total | 147 | 100.00 | 19,10,000 | 100.00 | 11,78,000 | � | � | � | � | 11,78,000 | 100.00 | 0 |
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. National Stock Exchange of India 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 05, 2019. Further, the instructions to SCSBs has been issued on February 02, 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 EMERGE Platform of National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before February 06, 2019 subject to receipt of listing and trading approvals from National Stock Exchange of India Limited.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue 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, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai- 400 083, India |
| Tel: 022-49186200 Fax: 022-49186195 |
| Email: suranisteel.ipo@linkintime.co.in |
| Website: www.linkintlme.co.in |
| Investor Grievance Id: suranisteel.ipo@linkintime.co.in |
| Contact Person: Shanti Gopalkrishnan |
| SEBI Registration Number: INR000004058 |
| For Surani Steel Tubes Limited |
| On behalf of the Board of Directors |
| Sd/- |
| Mukesh Patel Joint |
| Managing Director |
| Date: February 04, 2019 |
| Place: Dahegam |
The Surani Steel IPO basis of allotment (published above) tells you how shares are allocated to you in Surani Steel IPO and category wise demand of IPO share.
Visit the Surani Steel IPO allotment status page to check the number of shares allocated to your application.
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