Vadivarhe Speciality IPO Basis of Allotment

VADIVARHE SPECIALITY CHEMICALS LIMITED
CIN No.: U24100MH2009PLC190516

Our Company was originally Incorporated on February 23, 2009 as 'Vadivarhe Speciality Chemicals Limited' vide Registration no. 11 -190516/2008-2009 (CIN: U24100MH2009PLC190516) under the provisions of the Companies Act, 1956 with the Registrar of Companies, Maharashtra, Mumbai and received Certificate for Commencement of Business on March 06,2009. For further details please refer to chapter titled

'History and Certain Corporate Matters' beginning on page 108 of the Prospectus

Registered Office: Gat No. 204, Vadivarhe, Igatpuri, Maharashtra - 422403, India. | Corporate Office: 1 st Floor, K. K. Chambers, Sir R T. Road, Fort, Mumbai, Maharashtra-400001, India.
Tel No: +91-2553-282200 | +91-2553-282238 | E-mail: cs@vscl.co.in | Website: www.vscl.net.in

CONTACT PERSON : MR. JAYESH BHAGWATI PRASAD VAISHNAV, (COMPANY SECRETARY & COMPLIANCE OFFICER)
PROMOTER OF OUR COMPANY: MR. SUNIL HARIPANT POPHALE

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 34,44,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ('EQUITY SHARES') OF VADIVARHE SPECIALITY CHEMICALS LIMITED ('OUR COMPANY' OR 'ISSUER') FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 32.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO 71446.48 LAKHS ('ISSUE') CONSISTING OF A FRESH ISSUE OF 6,89,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs. 289.38 LAKHS ('ISSUE') AND 27,55,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs. 1157.10 LAKHS THROUGH AN OFFER FOR SALE BY MR. SUNIL HARIPANT POPHALE (REFERRED AS PROMOTER SELLING SHAREHOLDER) OF WHICH 1,80,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH FOR A CASH PRICE OF Rs. 42.00 PER EQUITY SHARE, AGGREGATING TO Rs. 75.60 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 32,64,000 EQUITY SHARES OF FACE VALUE OF Rs.10.00 EACH AT AN ISSUE PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs.1370.88 LAKHS (IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.94% AND 25.53%, 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 210 OF THE PROSPECTUS. THIS ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED FROM TIME TO TIME (THE 'SEBIICDR REGULATIONS').

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00 EACH AND THE ISSUE PRICE IS Rs. 42.00 THE ISSUE PRICE IS 4.2 TIMES OF THE FACE VALUE
ISSUE OPENED ON MONDAY, MAY 22,2017 AND CLOSED ON THURSDAY, MAY 25, 2017.

PROPOSED LISTING: JUNE 02, 2017

The Equity Shares offered through Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ('NSE EMERGE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended; we are not required to obtain an in-principle listing approval for the shares being offered in this issue. However, our Company has received an approval letter dated May 03,2017 from NSE for using its name in this offer document for listing of our shares on the SME Platform of NSE ('NSE EMERGE'). For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced on or about June 02,2017.*

*Subject to receipt of listing and trading approvals from the NSE.

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 20067 applications for 137343000 Equity Shares resulting in 39.88 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 No. of
Applications % No. of
Equity Shares % Subscription
(Times)

Market Makers 1 0.00 1,80,000 0.13 1.00

Retail Individual Investors 19727 98.31 5,91,81,000 43.09 36.26

Other than Retail Individual Investors 339 1.69 7,79,82,000 56.78 47.78

TOTAL 20067 13,73,43,000 39.88

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 - -

Retail Individual Investors 219 6,57,000

Other than Retail Individual Investors 18 3,96,000

Total 237 1053000

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

Category Number of Applications % Reserved portion
(as per prospectus) No. of
Valid Shares applied % of
Total Applied Subscription (Times)

Market Maker 1 100 1,80,000 1,80,000 100 1.00

Total 1 100 1,80,000 1,80,000 100 1.00

Category Number of Applications % Reserved Portion (as per Prospectus) Proportionate Issue Size (After rounding off) No. of Valid Shares applied % of Total Applied Subscription (Times)

Retail Individual Investors 19508 98.38 16,32,000 16,32,000 5,85,24,000 43.00 35.86

Other than Retail Individual Investors 321 1.62 16,32,000 16,32,000 7,75,86,000 57.00 47.54

Total 19829 100 32,64,000 32,64,000 13,61,10,000 100

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on May 30,2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 42 per Equity Share, was finalised in consultation with National Stock Exchange Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,80,000 Equity shares.
The category wise details of the Basis of Allotment are as under:

Applied for (Category wise) Applications received Total Shares applied in this Category total Proportinate Shares
Available Allocation per
Applicant (Before
Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees|
to Applicants
Ratio 1 Ratio of Allottees
to Applicants
Ratio 2 Number of Successful
applicants (after
rounding off) Total No. of Equity
Shares allocated/
allotted No. of Shares Surplus/ Deficit

1,80,000 1 100.00 1,80,000 100.00 1,80,000 1,80,000 1,80,000 1 1 1 1,80,000 -

TOTAL 1 100.00 1,80,000 100.00 1,80,000 1 1,80,000 -

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 42 per Equity Share, was finalized in consultation with National Stock Exchange Limited. The category was subscribed by 35.86 times i.e. for 5,85,24,000 Equity Shares. Total number of shares allotted in this category is 16,32,000 Equity shares to 544 sucessful 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 % of total Proporti nate
Shares
Available Allocation per
Applicant (Before
Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees
to Applicants
Ratio 1 Ratio of Allottees
to Applicants
Ratio 2 Number of Successful
applicants (after
rounding off) Total No. of Equity
Shares allocated/
allotted No. of Shares Surplus/ Deficit

3000 19508 100.00 5,85,24,000 100.00 16,32,000 83.66 3000.00 544 19508 544 16,32,000 0

TOTAL 19508 100.00 5,85,24,000 100.00 16,32,000 544 16,32,000 0

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. 42 per Equity Share, was finalized in consultation with National Stock Exchange Limited. The category was subscribed by 47.54 times i.e. for 7,75,86,000 shares the total number of shares allotted in this category is 16,32,000 Equity sahres to 126 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 % of total Proporti nate Shares
Available Allocation per
Applicant (Before
Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees
to Applicants
Ratio 1 Ratio of Allottees
to Applicants
Ratio 2 Number of Successful
applicants (after
rounding off) Total No. of Equity
Shares allocated/
allotted No. of Shares Surplus/Deficit

6000 59 18.38 354000 0.46 7446 126.21 3000 3 59 3 9000 1554

9000 27 8.41 243000 0.31 5111 189.31 3000 2 27 2 6000 889

12000 12 3.74 144000 0.19 3029 252.42 3000 1 12 1 3000 -29

15000 22 6.85 330000 0.43 6941 315.52 3000 2 22 2 6000 -941

18000 13 4.05 234000 0.30 4922 378.63 3000 2 13 2 6000 1078

21000 11 3.43 231000 0.30 4859 441.73 3000 2 11 2 6000 1141

24000 22 6.85 528000 0.68 11106 504.83 3000 4 22 4 12000 894

27000 6 1.87 162000 0.21 3408 567.94 3000 1 6 1 3000 -408

30000 19 5.92 570000 0.73 11990 631.04 3000 4 19 4 12000 10

33000 1 0.31 33000 0.04 694 694.15 0 0 0 0 0 -694

36000 4 1.25 144000 0.19 3029 757.25 3000 1 4 1 3000 -29

39000 1 0.31 39000 0.05 820 820.35 0 0 0 0 0 -820

42000 1 0.31 42000 0.05 883 883.46 0 0 0 0 0 -883

45000 3 0.93 135000 0.17 2840 946.56 3000 1 3 1 3000 160

54000 2 0.62 108000 0.14 2272 1135.88 3000 1 2 1 3000 728

60000 8 2.49 480000 0.62 10097 1262.08 3000 3 8 3 9000 -1097

63000 1 0.31 63000 0.08 1325 1325.19 0 0 0 0 0 -1325

66000 1 0.31 66000 0.09 1388 1388.29 0 0 0 0 0 -1388

69000 1 0.31 69000 0.09 1451 1451.40 3000 1 1 1 3000 1549

75000 4 1.25 300000 0.39 6310 1577.60 3000 2 4 2 6000 -310

78000 3 0.93 234000 0.30 4922 1640.71 3000 2 3 2 6000 1078

90000 3 0.93 270000 0.35 5679 1893.13 3000 2 3 2 6000 321

93000 3 0.93 279000 0.36 5869 1956.23 3000 2 3 2 6000 131

96000 2 0.62 192000 0.25 4039 2019.33 3000 1 2 1 3000 -1039

102000 3 0.93 306000 0.39 6437 2145.54 3000 2 3 2 6000 -437

111000 2 0.62 222000 0.29 4670 2334.85 3000 1 1 2 6000 1330

117000 3 0.93 351000 0.45 7383 2461.06 3000 2 3 2 6000 -1383

120000 3 0.93 360000 0.46 7573 2524.17 3000 1 1 3 9000 1427

123000 2 0.62 246000 0.32 5175 2587.27 3000 1 1 2 6000 825

129000 2 0.62 258000 0.33 5427 2713.48 3000 1 1 2 6000 573

132000 1 0.31 132000 0.17 2777 2776.58 3000 1 1 1 3000 223

135000 4 1.25 540000 0.70 11359 2839.69 3000 1 1 4 12000 641

141000 4 1.25 564000 0.73 11864 2965.90 3000 1 1 4 12000 136

150000 6 1.87 900000 1.16 18931 3155.21 3000 1 1 6 18000 -931

168000 1 0.31 168000 0.22 3534 3533.83 3000 1 1 1 3000 -534

180000 1 0.31 180000 0.23 3786 3786.25 3000 1 1 1 3000 -786

189000 1 0.31 189000 0.24 3976 3975.56 3000 1 1 1 3000 -976

204000 1 0.31 204000 0.26 4291 4291.08 3000 1 1 1 3000 -1291

222000 2 0.62 444000 0.57 9339 4669.71 6000 1 1 2 12000 2661

237000 2 0.62 474000 0.61 9970 4985.23 6000 1 1 2 12000 2030

240000 5 1.56 1200000 1.55 25242 5048.33 6000 4 5 4 24000 -1242

261000 1 0.31 261000 0.34 5490 5490.06 6000 1 1 1 6000 510

300000 2 0.62 600000 0.77 12621 6310.42 6000 1 1 2 12000 -621

309000 1 0.31 309000 0.40 6500 6499.73 6000 1 1 1 6000 -500

315000 1 0.31 315000 0.41 6626 6625.94 6000 1 1 1 6000 -626

321000 1 0.31 321000 0.41 6752 6752.15 6000 1 1 1 6000 -752

324000 1 0.31 324000 0.42 6815 6815.25 6000 1 1 1 6000 -815

330000 1 0.31 330000 0.43 6941 6941.46 6000 1 1 1 6000 -941

357000 2 0.62 714000 0.92 15019 7509.40 6000 1 1 2 12000 -3019

357000 3000 1 2 3000 3000

360000 4 1.25 1440000 1.86 30290 7572.50 6000 1 1 4 24000 -6290

360000 3000 2 4 6000 6000

363000 1 0.31 363000 0.47 7636 7635.60 9000 1 1 1 9000 1364

417000 1 0.31 417000 0.54 8771 8771.48 9000 1 1 1 9000 229

426000 1 0.31 426000 0.55 8961 8960.79 9000 1 1 1 9000 39

450000 1 0.31 450000 0.58 9466 9465.63 9000 1 1 1 9000 -466

474000 2 0.62 948000 1.22 19941 9970.46 9000 1 1 2 18000 -1941

495000 1 0.31 495000 0.64 10412 10412.19 9000 1 1 1 9000 -1412

594000 3 0.93 1782000 2.30 37484 12494.63 12000 1 1 3 36000 -1484

597000 1 0.31 597000 0.77 12558 12557.73 12000 1 1 1 12000 -558

600000 1 0.31 600000 0.77 12621 12620.83 12000 1 1 1 12000 -621

714000 2 0.62 1428000 1.84 30038 15018.79 15000 1 1 2 30000 -38

900000 1 0.31 900000 1.16 18931 18931.25 18000 1 1 1 18000 -931

1428000 2 0.62 2856000 3.68 60075 30037.58 30000 1 1 2 60000 -75

1545000 1 0.31 1545000 1.99 32499 32498.65 33000 1 1 1 33000 501

1632000 1 0.31 1632000 2.10 34329 34328.67 33000 1 1 1 33000 -1329

1665000 3 0.93 4995000 6.44 105068 35022.81 36000 1 1 3 108000 2932

2400000 1 0.31 2400000 3.09 50483 50483.33 51000 1 1 1 51000 517

3261000 6 1.87 19566000 25.22 411565 68594.23 69000 1 1 6 414000 2435

3264000 6 1.87 19584000 25.22 411944 68657.34 69000 1 1 6 414000 2056

TOTAL 321 100.00 77586000 100.00 1632000 126 1632000

The Board of Directors of the Company at its meeting held on May 30, 2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and at a meeting held on May 31,2017 and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before June 02, 2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or about May 31, 2017 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 National Stock Exchange of India Limited 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 dated May 15,2017 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, Bigshare Services India Private Limited at 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 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:

BIGSHARE SERVICES PRIVATE LIMITED
E-2, Ansa Industrial Estate, Sakhivihar Road, Sakinaka, Andheri (East), Mumbai - 400 072.
Tel: +91 - 22 - 40430200; Fax: +91 - 22 - 28475207;
Website: www.bigshareonline.com; Email: ipo@bigshareonline.com
Contact Parson: Mr. Srinivas Dornala; SEBI Registration No.: INR000001385

Place : Igatpuri, Nashik
Date: 31.05.2017 For Vadivarhe Speciality Chemicals Limited
On behalf of the Board of Directors
Sd/-
Mr. Sunil Haripant Pophale
Chairman & Executive Director

Vadivarhe Speciality IPO Basis of Allotment FAQs

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

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

Visit the Vadivarhe Speciality IPO allotment status page to check the number of shares allocated to your application.

Vadivarhe Speciality IPO Basis of Allotment

Vadivarhe Speciality IPO Basis of Allotment FAQs

How shares are allotted in Vadivarhe Speciality IPO?

What is Vadivarhe Speciality IPO basis of allotment status?

What is Vadivarhe Speciality IPO allotment process?

Read more about Vadivarhe Speciality IPO