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Vadivarhe Speciality IPO Details

Issue Open May 22, 2017
Issue Close May 25, 2017
IPO Price ₹42
Face Value ₹10
IPO Size ₹14.46 Cr
Listing At NSE SME
IPO Lot Size 3000

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.

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).