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Times Green Energy IPO Details

Issue Open Jun 16, 2021
Issue Close Jun 22, 2021
IPO Price ₹61
Face Value ₹10
IPO Size ₹4.05 Cr
Listing At BSE SME
IPO Lot Size 2000
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE INDIA.)
wpe80.jpg (3113 bytes) TIMES GREEN ENERGY (INDIA) LIMITED
CIN: U40300TG2010PLC071153

Our Company was incorporated as Times Green Energy (India) Limited on November 10, 2010 under Companies Act, 1956 with Registrar of Companies, Hyderabad. Subsequently, Our Company received the certificate of Commencement of Business on December 31, 2010 from Registrar of Companies, Hyderabad. For further details pertaining to the change of name of our Company and the change in Registered Office, please refer the chapter "History and Certain Corporate Matters" on page no. 90 of the Prospectus.

Registered Office: Flat No. 602, Druva Thara Apartments, Medinova Complex, Somajiguda Hyderabad - 500 082
Contact Person: Mr. Ashutosh Shukla, Company Secretary and Compliance Officer
Tel No.: +91 7702632033; Email: info@timesgreenenergy.com; Website: www.timesgreenenergy.com
Promoters of our Company: Mrs. Dinne Lakshmi Jumaal and Mrs. Kanuparthi Vani
BASIS OF ALLOTMENT

PUBLIC ISSUE OF 6,64,000 EQUITY SHARES OF Rs.10 EACH ("EQUITY SHARES") OF TIMES GREEN ENERGY (INDIA) LIMITED ("TGEIL" OR THE "COMPANY") FOR CASH AT A PRICE OF Rs. 61 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO Rs. 405.04 LAKHS ("THE ISSUE"), OF WHICH 40,000 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 MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 6,24,000 EQUITY SHARES OF Rs.10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 39.90% AND 37.50%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OFTHE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS Rs. 10 AND THE ISSUE PRICE IS 6.10 TIMES OF THE FACE VALUE.
ISSUE OPENED ON: JUNE 16, 2021 AND ISSUE CLOSED ON: JUNE 22, 2021

The Equity Shares of the Company are proposed to be listed on the SME Platform of BSE Limited, in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In-Principle approval from BSE for the listing of the Equity Shares pursuant to letter dated January 12, 2021. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on June 30, 2021 (Subject to receipt of listing and trading approvals from the BSE Limited).

The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category shall be made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Issue of Shares to the public shall be made available for allotment to Individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. Linder subscription, if any, in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designation Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of the irrespective bank accounts and/ or UPI IDs, in case of Rlls, if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs")

SUBSCRIPTION DETAILS

The Net Issue has received 764 applications for 16,10,000 Equity Shares resulting in 2.58 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:

Detail of the Applications Received

CATEGORY Before Technical Rejections & Withdrawals After Technical Rejections & Withdrawals
No. of Applications No. of Equity Shares No. of Applications No. of Equity Shares
Retail Individual Investors 746 14,92,000 708 14,16,000
Other than Retail Investors 18 1,18.000 16 1,10,000
Total 764 16,10,000 724 15,26,000

Note: The Issue also includes 40,000 Equity Shares reserved for Market Maker, which was subscribed by 1.00 times and there were no Technical Rejection & any withdrawal.

In the event of over subscription, the allotment will be made on a proportionate basis in marketable lots. There was over subscription of 66,000 Equity Shares in other than Retail Investors & over subscription of 8,36,000 Equity Shares in Retail Individual Investors. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Limited on June 25, 2021.

A)

Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 61 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 40,000 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 Shares Applied in Each Category % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
40,000 1 100.00 40,000 100.00 40,000 1:1 40,000
Total 1 100.00 40,000 100.00 40,000

B)

Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs.61 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 5,80,000 Equity Shares. The category was subscribed by 2.44 times. 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 Shares Applied in Each Category % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
2,000 708 100.00 14,16,000 100.00 2,000 145:354 5,80,000
Total 708 100.00 14,16,000 100.00 5,80,000

C)

Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Other than Retails Category, at the Issue Price of Rs.61 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 44,000 Equity Shares. The category was subscribed by 2.50 times. 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 Shares Applied In Each Category % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
4,000 12 75.00 48,000 43.64 2,000 5:6 20,000
6,000 2 12.50 12,000 10.91 2,000 1:1 4,000
20,000 1 6.25 20,000 18.18 8,000 1:1 8,000
30,000 1 6.25 30,000 27.27 12,000 1:1 12,000
Total 16 100.00 1,10,000 100.00 44,000

The Board of Directors of the Company at its meeting held on June 25, 2021, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.

The CAN and allotment advice and/or notices shall be dispatched to the address of the investors as registered with the depositories on or before June 29, 2021. Further, the instructions to Self Certified Syndicate Banks will be processed on or before June 28, 2021 for unblocking of funds. The Equity Shares allotted 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 SME Platform of BSE Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on June 30, 2021 subject to receipt of listing and trading approvals from BSE Limited.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated June 08, 2021 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue 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 given below:

wpe81.jpg (1474 bytes) BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai - 400 059
Tel. No.: +91 22 6263 8200; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com; Contact Person: Babu Raphael
For Times Green Energy (India) Limited
On Behalf of the Board of Directors
Place: Hyderabad Sd/-
Date : June 28, 2021 Managing Director

LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OFTIMES GREEN ENERGY (INDIA) LIMITED

TIMES GREEN ENERGY (INDIA) LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Hyderabad. The Prospectus shall be available on the websites of the Company, the BSE and the Lead Manager at www.timesgreenenergy.com, www.bseindia.com and www.afsl.co.in respectively. Applicants should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the Prospectus, including, the section titled "Risk Factors" beginning on page no. 16 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as defined in Rule 144A under the U.S. Securities Act) pursuant to Rule 144A under the U.S. Securities Act and (ii) outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and applicable laws of the jurisdictions where such offers and sales occur.



Times Green Energy IPO Basis of Allotment FAQs

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

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

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