Tarini International IPO Details

Issue Open Jun 9, 2014
Issue Close Jun 13, 2014
IPO Price ₹41
Face Value ₹10
IPO Size ₹16.31 Cr
Listing At BSE SME
IPO Lot Size

TARINI INTERNATIONAL LIMITED

Our Company was originally incorporated as 'Tarini International Private Limited' on 20th January, 1999, under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Our Company was converted in to a public limited company and consequently name was changed to 'Tarini International Limited' vide fresh certificate of incorporation dated 8th July, 2011 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. 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 75 of the Prospectus.

Registered office: D-2.1st Floor, Amar Colony, Lajpat Nagar IV, New Delhi-110024; Tel: +91 -11 -26479995/26285364; Fax: +91 -11 -26477996 Accounts and Administrative Office: F-33, Basement, East of Kailash, New Delhi-110065; Email: tarini@nde.vsnl.net.in; Website: www.tariniindia.com Contact Person & Compliance Officer: Mr. Amit Arora, Company Secretary & Compliance Officer

PROMOTERS OF THE COMPANY: MR. VAKAMULLA CHANDRA SHEKHAR & MRS. VAKAMULLA ANU NAIDU

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 39,78,000 EQUITY SHARES OF RS.10/- EACH ('EQUITY SHARES') OF TARINI INTERNATIONAL LIMITED ('TIL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS.41/- PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS.1630.98 LACS ('THE ISSUE'), OF WHICH, 2,01,000 EQUITY SHARES OF RS.10/- EACH WILL BE 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 37,77,000 EQUITY SHARES OF RS.10/- EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.60% AND 29.06%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated 23rd May, 2014 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 OF EQUITY SHARES IS RS. 41/- EACH. THE ISSUE PRICE IS 4.10 TIMES OF THE FACE VALUE. ISSUE OPENED ON 9TH JUNE, 2014 AND CLOSED ON 13TH JUNE, 2014.

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 16th May, 2014 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 520 applications for 27,75,000 Equity Shares (Including Market Maker Application of 2,01,000 Equity Shares) resulting 0.6976 time subscription before cheque returns and before considering technical rejection cases. The Issue was subscribed to the extent of 0.6833 time after considering the cheque return cases of 57,000 Shares for 19 applications. After considering the Technical Rejections cases of 1,14,000 Shares for 9 applications, the Issue was subscribed 0.6546 time. Since this Issue was fully underwritten, and requisite notice has been sent to Underwriter i.e. Guiness Corporate Advisors Private Limited hence Underwriter has subscribed the shortfall of 13,74,000 Shares and accordingly Issue was subscribed to 1.00 time.

The details of the applications received in the Issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejections):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Retail Individual Applicants 475 14,25,000 0.755
Non Retail Applicants 25 10,92,000 0.578
Market Maker Portion 1 2,01,000 1.00
Underwriter 1 13,74,000 1.00
TOTAL 502 40,92,000 1.029

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

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Retail Individual Applicants 7 21,000
Non Retail Applicants 2 93,000
TOTAL 9 1,14,000

Detail of the Applications Received (After Technical Rejections):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Retail Individual Applicants 468 14,04,000 0.743
Non Retail Applicants 23 9,99,000 0.528
Market Maker Portion 1 2,01,000 1.00
Underwriter 1 13,74,000 1.00
TOTAL 493 39,78,000 1.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 23rd June, 2014.

A. Allocation to Market Maker: The Basis of Allotment to the Market Maker, at the issue price of  Rs.41/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 2,01,000 Equity shares in full out of reserved portion of 2,01,000 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. 41/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.743 times. Total number of shares allotted in this category is 14,04,000 Equity Shares. The balance 4,84,500 Shares has been added to Underwriter Category as spill over. The category wise basis of allotment is as under:

NO. OF SHARES APPLIED FOR (CATEGORY WISE) NO. OF APPLICATIONS % TO TOTAL TOTAL NO. OF EQUITY SHARES APPLIED % OF TOTAL PROPORTIONATE SHARES AVAILABLE ALLOCATION
PER APPLICANT
RATIO OF ALLOTTEES TO THE APPLICANTS TOTAL NO. OF EQUITY SHARES ALLOTTED
3000 468 100 1404000 100 1888500 3000 FIRM 1404000
TOTAL 468 100 1404000 100 1888500 3000 FIRM 1404000

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of ? 41/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.528 times. Total number of shares allotted in this category is 9,99,000 Equity Shares. The balance 8,89,500 Shares has been added to Underwriter Category as spill over. The category wise basis of allotment is as under:

NO. OF SHARES APPLIED FOR (CATEGORY WISE) NO. OF APPLICATIONS % 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 ALLOTTEES TO
THE APPLICANTS
TOTAL NO. OF EQUITY SHARES ALLOTTED
6000 2 8.69 12000 1.20 22685 11342.50 6000 FIRM 12000
9000 2 8.69 18000 1.80 34027 17013.50 9000 FIRM 18000
12000 1 4.35 12000 1.20 22684 22684.00 12000 FIRM 12000
15000 2 8.69 30000 3.00 56712 28356.00 15000 FIRM 30000
18000 1 4.35 18000 1.80 34027 34027.00 18000 FIRM 18000
24000 5 21.74 120000 12.01 226847 45369.40 24000 FIRM 120000
33000 1 4.35 33000 3.30 62383 62383.00 33000 FIRM 33000
36000 4 17.39 144000 14.41 272216 68054.00 36000 FIRM 144000
48000 1 4.35 48000 4.80 90739 90739.00 48000 FIRM 48000
60000 1 4.35 60000 6.01 113423 113423.00 60000 FIRM 60000
63000 1 4.35 63000 6.31 119095 119095.00 63000 FIRM 63000
75000 1 4.35 75000 7.51 141779 141779.00 75000 FIRM 75000
366000 1 4.35 366000 36.65 691883 691883.00 366000 FIRM 366000
TOTAL 23 100 999000 100 1888500 999000

D. Allocation to Underwriters (After Technical Rejections & Withdrawal): The shortfall of retail category (4,84,500 Shares) and Non Retail category (8,89,500 Shares) has been subscribed by Underwriter at the issue price of Rs.41/- per Equity Share, was finalized in consultation with BSE. The category wise basis of allotment is as under:

NO. OF SHARES
APPLIED FOR
(CATEGORY WISE)
NO. OF
APPLICATIONS
% TO
TOTAL
TOTAL NO. OF
EQUITY SHARES
APPLIED
% OF
TOTAL
PROPORTIONATE
SHARES
AVAILABLE
ALLOCATION
PER
APPLICANT
RATIO OF
ALLOTTEES TO
THE APPLICANTS
TOTAL NO.
OF EQUITY
SHARES
ALLOTTED
1374000 1 100 1374000 100 1374000 1374000 FIRM 1374000
TOTAL 1 100 1374000 100 1374000 1374000 FIRM 1374000

The Board of Directors of the Company at its meeting held on 24th June, 2014 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 25th June, 2014. Further, the instructions to Self Certified Syndicate Banks being processed on or prior to 25th June, 2014. 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 27th June, 2014 subject to receipt of listing and trading approvals from BSE Limited.

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.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:

LINK INTIME LINK INTIME INDIA PVT. LTD
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078
Tel:
+91 -22-2596 7878; Fax: +91 -22-2596 0329
Website: www.linkintime.co.in; E-mail ID: til.ipo@linkintime.co.in

Place: New Delhi
Date: 24.06.2014
For Tarini International Limited
On behalf of Board of Directors
Sd/-
Amit Arora
Company Secretary

Tarini International IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Tarini International IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Tarini International 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 Tarini International IPO basis of allotment status?

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

    Visit the Tarini International IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Tarini International IPO allotment process?

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








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App