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Synergy Green IPO Details

Issue Open Sep 4, 2018
Issue Close Sep 11, 2018
IPO Price ₹70
Face Value ₹10
IPO Size ₹26.46 Cr
Listing At BSE SME
IPO Lot Size 2000

(This is only an advertisement for Information purposes and not a Prospectus announcement.)

SYNERGY GREEN INDUSTRIES LIMITED
Corporate Identity Number of our company is U27100PN2010PLC137493

Our Company was originally incorporated on October 08, 2010 as 'Synergy Green Industries Private Limited' as Private Limited Company under the provisions of the Companies Act, 1956 with the Registrar of Companies, Maharashtra, Pune. Further, our Company was converted into Public Limited Company and consequently name of company was changed from 'Synergy Green Industries Private Limited' to 'Synergy Green Industries Limited' vide Special resolution passed by the Shareholders at the Extra Ordinary General Meeting held on February 12, 2018 and a fresh certificate of incorporation dated February 16, 2018 issued by the Registrar of Companies, Pune. For further details, please refer to chapter titled/ 'History and Certain Corporate Matters' beginning on page 118 of the Prospectus.

Registered Office; 392 E Ward, Shahupuri, Kolhapur- 416001, Maharashtra. India. Tel No: +91-0231-2658375
E-Mail: info@synergygreenind.com, Website: www.synergygreenind.com

CONTACT PERSON: MR. NILESH MOHAN MANKAR (COMPANY SECRETARY & COMPLIANCE OFFICER)

PROMOTERS OF OUR COMPANY: MR. SACHIN RAJENDRA SHIRGAOKAR. MR. SOHAN SANJEEV SHIRGAOKAR,
MR. VENDAVAGALI SRINIVASA REDDY AND S.B. RESHELLERS PRIVATE LIMITED

THE ISSUE

INITIAL PUBLIC ISSUE OF 37,80,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ('EQUITY SHARES') OF SYNERGY GREEN INDUSTRIES LIMITED ('0UR COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF RS 70.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 60.00 PER EQUITY SHARE) ('ISSUE PRICE')AGGREGATING TO RS 2646.00 LAKHS ('ISSUE') OF WHICH 1,92,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR A CASH PRICE OF RS 70.00 PER EQUITY SHARE, AGGREGATING TO RS 134.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'), THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 35,88,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 70.00 PER EQUITY SHARE AGGREGATING TO RS 2511.60 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.75% AND 25.39%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'TERMS OF THE ISSUE' BEGINNING ON PAGE 242 OF THE PROSPECTUS.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE 'SEBI ICDR REGULATIONS'), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC IS MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009. AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 250 OF THE PROSPECTUS

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND THE ISSUE PRICE IS RS 70.00. THE ISSUE PRICE IS 7.0 TIMES OF THE FACE VALUE.

ISSUE OPENS ON: TUESDAY, SEPTEMBER 04, 2018 & ISSUE CLOSED ON: TUESDAY, SEPTEMBER 11, 2018 PROPOSED LISTING: SEPTEMBER 21, 2018

The Equity Shares offered through the Prospectus are proposed to be listed or the SME Platform of BSE Limited ('BSE SME'). Our Company has received an approval letter dated July 31, 2018 from BSE for using its name in this offer document for listing of our shares on the SME Platform of BSE Limited ('BSE SME'). For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced on or about September 21, 2018. *

* Subject to receipt of Listing and trading approvals from the BSE Limited.

All Applicants ware allowed to participale in the issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of the respective bank accounts in which the corresponding applicalion amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs'),

SUBSCRIPTION DETAILS

The issue has received 338 applications for 38,00,000 Equity Shares resulting in 1.01 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical rejections) are as follows:
Detail of the Applications Received (Before Technical Rejection}:

CATEGORY NUMBER OF
APPLICATIONS
% NUMBER OF
EQUITY SHARES
% SUBSCRIPTION
(TIMES)
Market Makers 01 030 1,92,000 5.05 1.00
Retail Individual Investors 295 87.28 5,90,000 15.53 0.32
Other than Retail Individual Investors 42 12.43 30,18,000 79.42 1.68
TOTAL 338 100.00 38,00,000 100.00

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

Category No. of
Applications
No. of
Equity Shares
Market Makers Nil Nil
Retail Individual Investors 6 12,000
Other than Retail Individual Investors Nil Nil
TOTAL 6 12,000

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Category No. of
Applications
% Reserved Portion
(as per Prospectus)
No. of Valid
Shares applied
% of Total
Applied
Subscription
(Times)
Market Maker 1 100 00 1.92,000 1,92.000 100 00 1.00
Total 1 10000 1,92,000 1,92,000 100.00 1.00
Category No. of
Applications
% Reserved
Portion (as per
Prospectus)
Proportionate
Issue Size
(Spilled over)
No. of
Valid Shares
applied
% of
Total
Applied
Subscription
(Times)
Retail Individual lnvestors 289 87.31 17,94,000 5,78,000 5,78,000 16.07 0.32
Other than Retail Individual Investors 42 12.69 17,94,000 30,10,000 30,18,000 83.93 1.68
Total 331 100.00 35,88,000 35,88,000 35,96,000 100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on September 17, 2018.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 70 per Equity Share was finalised in Conusltation  BSE Limhed. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,92,000 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 this
Category
% to
Total
Proportionate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
1,92,000 1 101.00 1,92,000 100.00 1,92,000 1,92,000 1,92,000 1 1 1 1,92,000 --
TOTAL 1 100.00 1,92,000 100.00 1,92,000 1,92,000 1,92,000 1 1 1 1,92,000 --

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Ralail Individual Investors, at the issue price of Rs 70 per Equity Share, was finalized in consultation with BSE Limited. Tha category was subscribed by 0.32 times i.e. for 5,78,000 Equity Shares. Total number or shares allotted in this category is 5,78,000 Equity Shares to 289 successful applicants.
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 this
Category
% to
Total
Proportionate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
2000 289 100.00 5,78,000 100.00 17,94,000 6207.61 2000 1 1 289 578,000 -12,16,000
TOTAL 289 100.00 5,78,000 100.00 17,94,000 289 5,78,000 -12,16,000

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs 70 per Equity Share, was finalised in consultation with BSE Limited. The cetegory was subscribed by 1.66 times, i. e. for 30,18,000 shares the total number of shares allotted in this category is 30,10,000 Equity Shares 42 successful applicants.
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 this
Category
% to
Total
Proportionate
Shares
Available
Allocation
per
Applicant
(before
Rounding
Off)
Allocation
per
Applicant
(after
Rounding
Off)
Ratio of
Allottees
to
AppliCant:
Ratio 1
Ratio of
Allottees
to
AppliCant:
Ratio 2
Number of
Successful
applicants
(after
rounding
off)
Total No.
of Equity
Shares
allocated/
allotted
No. of
Shares
Surplus
/Deficit
4000 8 19.05 32000 1.06 31918 3989.38 4000.00 1 1 8 32000 84
6000 8 14.29 36000 1.19 35905 5984.17 6000.00 1 1 6 36000 95
8000 5 11.90 40000 1.33 39894 7978.80 8000.00 1 1 5 40000 106
10000 1 2.38 10000 0.33 9973 9973.00 10000.00 1 1 1 10000 27
12000 1 2.38 12000 0.40 11968 11968.00 12000.00 1 1 1 12000 32
14000 2 4.76 28000 0.93 27926 13963 00 14000.00 1 1 2 28000 74
18000 1 2.38 18000 0.60 17952 17952.00 18000.00 1 1 1 18000 48
20000 3 7.14 60000 1.99 59841 19947.00 20000.00 1 1 3 60000 159
28000 1 2.38 28000 0.93 27926 27926.00 28000.00 1 1 1 28000 74
36000 1 2.38 36000 1.19 35905 35905.00 36000.00 1 1 1 36000 95
40000 1 2.38 40000 1.33 39894 39894.00 40000.00 1 1 1 40000 106
42000 1 2.38 42000 1.39 41889 41889.00 42000.00 1 1 1 42000 111
50000 1 2.38 50000 1.66 49867 49867.00 50000.00 1 1 1 50000 133
60000 1 2.38 60000 1.99 59841 59841.00 60000.00 1 1 1 60000 159
70000 1 2.38 70000 2.32 69814 69814.00 70000.00 1 1 1 70000 186
72000 1 2.38 72000 2.39 71809 71809.00 72000.00 1 1 1 72000 191
84000 1 2.38 84000 2.78 83777 83777.00 8400000 1 1 1 84000 223
86000 1 2.38 86000 2.85 85772 85772.00 86000.00 1 1 1 86000 228
120000 1 2.38 120000 3.98 119682 119682.00 120000.00 1 1 1 120000 318
144000 1 2.38 144000 4.77 143618 143618.00 144000.00 1 1 1 144000 382
200000 1 2.38 200000 6.63 199470 199470.00 198000.00 1 1 1 198000 -1470
350000 1 2.38 350000 11.60 349072 349072 00 348000.00 1 1 1 348000 -1072
1400000 1 2.38 1400000 46.39 1396289 1396289.00 1396000.00 1 1 1 1396000 -289
TOTAL 42 100.00 30,18,000 100.00 30,10,000 42 30,10,000 0

The Board of Directors of the Company at its meeting held on September 17, 2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Limited on September 17, 2018. Further the Company in its meeting held on September 18, 2018 has authorized the corporate action for issue of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advices and/or notices will forwarded to the email id's and address of the Applicants as registered 'with the depositories/as filled in the application form Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will processed on or prior to September 19, 2018. 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 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 Limiled (BSE SME) within six working days from the date of the closure of the issue.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus August 24, 2018 ('Prospectus')

INVESTORS PLEASE NOTE 

The details of the allotment made would also be hosted on the website of the Registrar to the issue. Link Intirne India Private Limited at www.intime.co.in All future correspondence in this record 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:

LINK INTIME INDIA PRIVATE LIMITED
C101, 1st Floor, 247 Park, LBS Mara, Vikhroli (West), Mumbai,
Maharashtra, India - 400083
Telephone: + 91 22 49166200; Facsimile: +91 22 49186195
Email: synergygreen.ipo@linkintime.co.in
Investors Grievance Email: synergygreen.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Place: Kolhapur, Maharashtra
Date: September 18, 2018
On behalf of Board of Directors
Sd/-
Mr. Sohan Sanjeev Shirgaokar
Joint Managing Director
DIN:- 00217631

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 OF SYNERGY GREEN INDUSTRIES LIMITED.

Synergy Green IPO Basis of Allotment FAQs

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

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

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