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Sylph Education IPO Details

Issue Open Feb 10, 2016
Issue Close Feb 15, 2016
IPO Price ₹12
Face Value ₹10
IPO Size ₹4.80 Cr
Listing At BSE SME
IPO Lot Size 10000

SYLPH EDUCATION SOLUTIONS LIMITED

Our Company was originally incorporated as 'Sylph Education Solutions Private limited' on January 29, 2010 under the Companies  Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Madhya Pradesh Our Company was subsequently converted in to a public limited company and consequently name was changed to 'Sylph Education Solutions Limited' vide fresh certificate of incorporation dated March 04, 2014 issued by the Registrar of Companies. Madhya Pradesh. The Corporate identification number of our Company is U80302MP2010PLC023011.

Registered Office: ST 4, 22 Press Complex, A. B. Road,   Indore- 452008 (M P.)
Tel No: +91-731-2571451-52; Fax: +91-73l-25711451 E-Mail: info@sylphedu.com ; Website: www.sylphedu.com
Company Secretary & Compliance Officer: Ms. Rani Rai
PROMOTER OF THE COMPANY: Dr. Rajesh Jain

PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF FACE VALUE RS 10/- EACH OF SYLPH EDUCATION SOLUTIONS LIMITED ('SESL'  OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 12 PER SHARE (THE 'ISSUE PRICE'), INCLUDING A SHARE PREMIUM OF RS 2 PER EQUITY SHARE AGGREGATING TO RS 480.00 LACS ('THE ISSUE'), OF WHICH 2,00,000 EQUITY SHARES OF RS. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE ''MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 38,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 12 AGGREGATING TO RS 456.00 IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.67% AND 25.33% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus- dated February 1,2016 and as per Regulation 43, (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors, 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 number of shares applied for.

Explanation: for the purpose of Regulalion 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. All investors have participated in this offer through ASBA process. For details in this regard, specific attention is invited to chapter titled 'Issue Procedure' on page 157 ofthe prospectus.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE IS Rs. 12/- EACH. THE ISSUE PRICE IS 1.2 (ONE POINT TWO (TIME OF THE FACE VALUE. ISSUE OPENED ON FEBRUARY 10,2016 (WEDNESDAY) AND CLOSED ON FEBUARY 15,2016 (MONOAY).

The Equity Shares offered through the Prospectus are proposed to be listed en the SME platform of BSE Limited ('BSE') in terms of the chapter XB of the SEBI (ICDR) Regulation, 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 has received an approval letter dated December 15, 2015 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.

SUBSCRIPTION DETAILS

The Issue has received 80 applications for 44,10.000 Equity Shares (Including Market Maker Application of 2,00,000 Equity Shares) resulting 1.1025 times subscription. After considering, Technical/Multiple Rejection cases, the issue was subscribed 1.1 times (including the Market Maker portion)

Details of the Valid Applicatioons Received ( Before Technical Rejection):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARE
SUBSCRIPTION
Market Makers 1 200000 1.00
Other than Retail Individual Investor's 30 3720000 1.957
Retail Individual Investor's 49 490000 0.257
TOTAL 80 4410000

The details of applications rejected by the Registrar on Technical grounds are detailed below:

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARE
AMOUNT(RS,)
Market Makers 0 0 0
Other than Retail Individual Investor's 0 0 0
Retail Individual Investor's 1 10000 120000
TOTAL 1 10000 120000

Details of the Applicataions Received (After Technical Rejections)

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARE
SUBSCRIPTION
Market Makers 1 200000 1.00
Other than Retail Individual Investor's 30 3720000 1.957
Retail Individual Investor's 48 480000 0.252
TOTAL 79 4400000

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-BSE Limited on February 18,2016.

A. Allocation to Market Maker (After Technical Rejection): The Basis of Allotment to the Market Maker, at the issue price of Rs. 12/-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 2,00,000 Equity shares in full out of reserved portion of 2,00,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejection): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.2526 times. Total number of shares allotted in this category is 4,80,000 Equity Shares. The category wise detail of 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 (Before Rounding Off)
Allocation
per Applicant (After Rounding Off)
Ratio of Allottees
to the Applicants
Total No.
of Equity Shares allotted
Surplus/ (Deficit)
10000 48 100 480000 100 1900000 39583.33 10000 1:1 480000 (1420000)
Total 48 100 480000 100 1900000 39583.33 10000 1:1 480000 (1420000)

C. Allocation to Non Retail Investors (After Technical Rejection): The Basis of Allotment to the Non Retail Investors, at the issue pnee of Rs. 12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.957 times. Total number of  shares allotted in this category is 33,20.000 including unsubscribed portion of 14,20,000 Equity Shares of Retail Individual Investors, The category wise basis of allotment is as under:

No. of
Shares
(Applied
for
Category
wise)
No .of
Applica-
tions
received
% To
Total
Total No.
of
Shares
applied
% of
Total
Proporti-
onate
Shares
Available
Allocation
per
Applicant
(Before
Rounding
Off)
Allocation
per
Applicant
(Alter
Rounding
Off)
Ratio of
Allottees
the
Applicants
Serial
no. of
Qualifying
applicants
Total No.
of
Equity
Shares
Allotted
Surplus/
(Deficit)
20000 6 20.00 120000 3.23 107097 17849.46 20000 1:1 120000 12903
30000 8 26.67 240000 6.45 214194 26774.19 20000 1:1 160000 (54194)
10000 5:8 2,3,4,6,8 50000 50000
40000 10 33.33 400000 10.75 356989 35698.92 30000 1:1 300000 (55989)
10000 3:5 2,3,5 60000 60000
50000 2 6.67 100000 2.69 89247 44623.66 40000 1:1 80000 (9247)
60000 1 3.33 60000 1.61 53548 53548.39 50000 1:1 50000 (3548)
400000 1 3.33 400000 10.75 356989 356989.25 360000 1:1 360000 3011
1000000 1 3.33 1000000 26.88 892473 892473.12 890000 1:1 800000 (2473)
1400000 1 3.33 1400000 37.63 1249462 1249462.37 1250000 1:1 1250000 538
TOTAL 30 100 3720000 100.00 3320000 3320000 0

The Board of Directors of the Company at its meeting held on February 17,2016 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 the Equity Shares in dematerialized form to various successful applicants.
The CAN and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with (he depositories /as filled in the application form on or before February 16,2016. Further, the instructions to Self Certified Syndicate Banks being processed on February 19,2016 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 wilh 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. The trading is proposed to be commenced on or before February 23, 2016 subject to receipt of listing and trading approvals from BSE Limited.

INVESTORS PLEASE NOTE

The details or the allotment made would also be hosted on the website of The Registrar to the Issue. Purva Sharegistry India Private Ltd at www.purvashare.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:

SATELLITE CORPORATE SERVICES PVT LIMITED
9, Shiv Shakti Industrial Estate, JR Boricha Marg. Opp.Kasturba Hospital. Lower Parel (East), Mumbai -400 011
Tel No,: +91-022-23018261/23016761/2301077, Fax No: +91-022-23012517
SEBI REGN NO: INR 000001112, Email Id: busicomp@vsnl.com. Website; www.purvashare.com

Date: February 18, 2016
Place: Indore
For, SYLP H ED LIGATION SOLUTION S LIM ITED
Sd/-
Dr. Rajesh jain
Director
DIN: 01704145

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS SYLPH EDUCATION SOLUTIONS LIMITED.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

Sylph Education IPO Basis of Allotment FAQs

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

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

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