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Valencia IPO Details

Issue Open Dec 23, 2019
Issue Close Dec 27, 2019
IPO Price ₹46
Face Value ₹10
IPO Size ₹7.23 Cr
Listing At BSE SME
IPO Lot Size 3000
VALENCIA NUTRITION LIMITED
CIN: U51909KA2013PLC068380

Our Company was incorporated as "Valencia Nutrition Private Limited" on April 01, 2013 under the Companies Act, 1956 with the Registrar of Companies, Karnataka bearing Registration No. 068380. Subsequently, the status of our Company was changed to public limited company and the name of our Company was changed to "Valencia Nutrition Limited" vide Special Resolution dated March 09, 2018. A fresh certificate of incorporation consequent to conversion into public limited company was issued to our Company by the Registrar of Companies, Bangalore on April 09, 2018. The Company's Corporate Identity Number is U51909KA2013PLC068380. 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. 105 of the Prospectus.

Registered Office: D. No. 134, 6th Main, 1st Block, Banashankari, 3rd Stage, Bangalore - 560 085, Karnataka
Tel: +91 80 2679 9552; Email: info@valencianutrition.com; Website: www.valencianutrition.com
Contact Person: Mr. Adarsha K R, Company Secretary and Compliance Officer
PROMOTERS OF OUR COMPANY: MRS. DEEPTHI ANAND AND MR. MANISH TURAKHIA
BASIS OF ALLOTMENT

PUBLIC ISSUE OF 15,72,000 EQUITY SHARES OF Rs. 10 EACH ("EQUITY SHARES") OF VALENCIA NUTRITION LIMITED ("VNL" OR THE "COMPANY") FOR CASH AT A PRICE OF Rs 46 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO Rs 723.12 LAKHS ("THE ISSUE"), CONSISTING OF FRESH ISSUE OF 13,05,000 EQUITY SHARES AGGREAGTING TO Rs. 600.30 LAKHS AND AN OFFER FOR SALE 2,67,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS AGGREGATING TO Rs. 122.82 LAKHS ("OFFER FOR SALE"), OF WHICH 84,000 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 14,88,000 EQUITY SHARES OF Rs. 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.15% AND 26.64%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS Rs 10 AND THE ISSUE PRICE IS 4.60 TIMES OF THE FACE VALUE

ISSUE PROGRAMME

ISSUE OPENED ON: DECEMBER 23, 2019
ISSUE CLOSED ON: DECEMBER 27, 2019

The Equity Shares of the Company are proposed to be listed on the BSE Start-up segment under 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 December 11, 2019. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on January 06, 2020 (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 Investors category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. Under 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 about the bank account and/ or UPI IDs, in case of Rlls, if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same.

SUBSCRIPTION DETAILS

The Net Issue has received 190 applications for 22,23,000 Equity Shares resulting in 1.49 times subscription. The details of the applications received in the Net Issue (before and after technical rejections and 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 Applicant 143 4,29,000 131 3,93,000
Other than Retail Individual Applicant 47 17,94,000 46 17,82,000
TOTAL 190 22,23,000 177 21,75,000

Note : The Issue also includes 84,000 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 6,87,000 Equity Shares in other than Retail Individual Category & under subscription 3,51,000 Equity Shares in Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Limited on January 01, 2020

A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs 46 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 84,000 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 %of total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
84,000 1 100.00 84,000 100.00 84,000 1:1 84,000
Total 1 100.00 84,000 100.00     84,000
               
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 46 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 3,93,000 Equity Shares. The category was subscribed by 0.528 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 % of total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
3,000 131 100.00 3,93,000 100.00 3,000 1:1 3,93,000
Total 131 100.00 3,93,000 100.00     3,93,000
C) Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs 46 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 10,95,000 Equity Shares (including un-subscribed portion of 3,51,000 Equity Shares of Retail Individual Investors category). The category was subscribed by 1.627 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 %of total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
6,000 10 21.74 60,000 3.37 3,000 1:1 30,000
6,000

(Lottery System - Serial No. of qualifying applicant is 4)

3,000 1:5 6,000
9,000 5 10.87 45,000 2.53 3,000 1:1 15,000
9,000

(Lottery System - Serial No. of qualifying applicant are 1, 2, 4, 5)

3,000 4:5 12,000
12,000 3 6.52 36,000 2.02 6,000 1:1 18,000
12,000

(Lottery System - Serial No. of qualifying applicant is 1)

3,000 1:3 3,000
15,000 1 2.17 15000 0.84 9,000 1:1 9,000
18,000 1 2.17 18000 1.01 12,000 1:1 12,000
21,000 4 8.70 84000 4.71 12,000 1:1 48,000
21,000

(Lottery System - Serial No. of qualifying applicant is 3)

3,000 1:4 3,000
24,000 2 4.35 48,000 2.69 15,000 1:1 30,000
27,000 1 2.17 27,000 1.52 18,000 1:1 18,000
30,000 1 2.17 30,000 1.68 18,000 1:1 18,000
36,000 1 2.17 36,000 2.02 21,000 1:1 21,000
42,000 1 2.17 42,000 2.36 27,000 1:1 27,000
45,000 2 4.35 90,000 5.05 27,000 1:1 54,000
48,000 1 2.17 48,000 2.69 30,000 1:1 30,000
51,000 1 2.17 51,000 2.86 33,000 1:1 33,000
54,000 6 13.04 3,24,000 18.18 33,000 1:1 1,98,000
1,08,000 4 8.70 4,32,000 24.24 66,000 1:1 2,64,000
1,08,000

(Lottery System - Serial No. of qualifying applicant is 2)

3,000 1:4 3,000
1,80,000 1 2.17 1,80,000 10.10 1,11,000 1:1 1,11,000
2,16,000 1 2.17 2,16,000 12.12 1,32,000 1:1 1,32,000
Total 46 100.00 17,82,000 100.00     10,95,000

The Board of Directors of the Company at its meeting held on January 01, 2020, 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 January 03, 2020. Further, the instructions to Self Certified Syndicate Banks will be processed on or before January 03, 2020 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 BSE Start-up segment under SME Platform of BSE Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on January 06, 2020 subject to receipt of listing and trading approvals from BSE Limited.

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:

wpe2.jpg (1785 bytes) BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai - 400059
Tel: +91-22-6263 8200; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Mr. Babu Raphael; SEBI Registration No.: INR000001385
FOR VALENCIA NUTRITION LIMITED
On Behalf of the Board of Directors
Place: Bangalore Sd/-
Date : January 02, 2020 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 OF VALENCIA NUTRITION LIMITED.

VALENCIA NUTRITION 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, Bangalore, Karnataka. The Prospectus shall be available on the websites of the Company, the BSE and the Lead Manager at www.valencianutrition.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. 18 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.

Valencia IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Valencia IPO?

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

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

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

  3. 3. What is Valencia IPO allotment process?

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

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