Valiant Organics IPO Details

Issue Open Sep 29, 2016
Issue Close Oct 4, 2016
IPO Price ₹220
Face Value ₹10
IPO Size ₹21.23 Cr
Listing At BSE SME
IPO Lot Size 600

VALIANT ORGANICS LIMITED

(CIN: U24230MH2005PLC151348)

Our Company was incorporated as Valiant Organics Private Limited on February 16,2005 under the Companies Act, 1956 bearing Registration No. 151348 and having Its Registered Office in Mumbai, Maharashtra. Subsequently, the status of our Company was changed to a public limited company and the name of our Company was changed to Valiant Organics Limited vide special resolution dated November 26,2014. A fresh Certificate of Incorporation consequent upon change of name was issued on July 31,2015 by the Registrar of Companies, Mumbai, Maharashtra. 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. 87 of the Prospectus.

Regd. Office: 109, Udyog Kshetra, 1st Floor, Mulund Goregaon Link Road, Mulund (W), Mumbai - 400 080. Tel No.: +91 - 22 - 2591 3766 / 67;
Fax No.: +91 - 22 - 2591 3765; Email: investor@valiant.com; Website: www.valiantorganics.com
Contact Person: Mr. Prashant Gaikwad, Company Secretary & Compliance Officer.

PROMOTERS OF THE COMPAN: MR. HEMCHAND GALA, MR. ARVIND CHHEDA, MR. VICKY GALA, MRS. AARTI GOGRI & DR. MANISHA GOGRI

BASIS OF ALLOTMENT

PUBLIC OFFER OF 9,64,800 EQUITY SHARES OF RS 10/- EACH ("EQUITY SHARES") OF VALIANT ORGANICS LIMITED ("VOL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 220/- PER SHARE (THE "OFFER PRICE"), AGGREGATING TO RS 2,122.56 LAKHS ("THE OFFER") THROUGH AN OFFER FOR SALE BY THE SELLING SHAREHOLDERS ("OFFER FOR SALE"), OF WHICH 49,200 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. OFFER OF 9,15,600 EQUITY SHARES OF RS 10/- EACH IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 26.50% AND 25.15%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH AND THE OFFER PRICE IS 22 TIMES OF THE FACE VALUE. OFFER OPENED ON SEPTEMBER 29,2016 AND CLOSED ON OCTOBER 04,2016.

The Equity Shares of the Company are proposed to be listed on the SME Platform of BSE Limited ("BSE"). Our Company has received an approval from BSE for the listing of the Equity Shares pursuant to letter dated September 08, 2016. BSE shall be the Designated Stock Exchange for the purpose of this Offer. The trading is proposed to be commenced on October 14,2016*

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

The Offer is being made through the Fixed Price process, the allocation in the Net Offer to the Public category shall be made as per Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, wherein a minimum of 50% of the Net Offer of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Offer 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. 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 Investors shall participate in the Offer only through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The Net Offer has received 2,440 applications for 45,16,200 Equity Shares resulting in 4.93 times subscription. The details of the applications received in the Net Offer (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 Applicant 2,291 13,74,600 2,278 13,66,800
Non - Retail Applicant 149 31,41,600 148 31,41,000
TOTAL 2,440 45,16,200 2,426 45,07,800

Note: The Offer also includes 49,200 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, tie allotment will be made on a proportionate basis in marketable lots. There was over subscription of 9,09,000 Equity Shares in Retail Category & over subscription 26,83,200 Equity Shares in Non - Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange -BSE Ltd on October 07,2016.

A) Allocation to Marker Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Offer Price of Rs 220/- 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 49,200 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
Equity Shares
Applied in
Each Category
% to
total
Allocation
per Applicant
Ratio of Allottees
to theApplicant
Total No. of
Shares Allotted
49,200 1 100.00 49,200 100.00 49,200 1:1 49,200
Total 1 100.00 49,200 100.00 49,200

B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Offer Price of Rs 220/- per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 4,57,800 Equity Shares. The category was subscribed by 2.98 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
Equity Shares
Applied in Each Category
% to total Allocation per Applicant Ratio of Allottees
to the Applicant
Total No.
of Shares Allotted
600 2,278 100.00 13,66,800 100.00 600 763:2278 4,57,800
Total 2,278 100.00 13,66,800 100.00 4,57,800

C. Allocation to Non - Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Offer Price of Rs 220/-per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 4,57,800 Equity Shares. The category was subscribed by 6.86 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
Equity Shares
Applied in Each Category
% to total Allocation per Applicant Ratio of
Allottees to the Applicant
Total No.
of Shares Allotted
1,200 18 12.16 21,600 0.69 600 1:3 3,600
1,800 9 6.08 16,200 0.52 600 4:9 2,400
2,400 9 6.08 21,600 0.69 600 2:3 3,600
3,000 10 6.76 30,000 0.96 600 4:5 4,800
3,600 4 2.70 14,400 0.46 600 1:1 2,400
4,200 4 2.70 16,800 0.53 600 1:1 2,400
4,800 7 4.73 33,600 1.07 600 1:1 4,200
5,400 1 0.68 5,400 0.17 600 1:1 600
6,000 8 5.41 48,000 1.53 600 1:1 4,800
6,000 (Lottery System - Serial No. of Qualifying Applicant is 1,6 & 8) 600 3:8 1,800
6,600 4.05 39,600 1.26 600 1:1 3,600
6,600 (Lottery System - Serial No. of Qualifying Applicant is 2 & 3) 600 2:3 2,400
7,200 5 3.38 36,000 1.15 1,200 1:1 6,000
7,800 1 0.68 7,800 0.25 1,200 1:1 1,200
8,400 1 0.68 8,400 0.27 1,200 1:1 1,200
9,000 3 2.03 27,000 0.86 1,200 1:1 3,600
9,600 4 2.70 38,400 1.22 1,200 1:1 4,800
10,200 1 0.68 10,200 0.32 1,200 1:1 1,200
10,800 1 0.68 10,800 0.34 1,800 1:1 1,800
11,400 2 1.35 22,800 0.73 1,800 1:1 3,600
12,000 8 5.41 96,000 3.06 1,800 1:1 14,400
13,800 2 1.35 27,600 0.88 1,800 1:1 3,600
15,000 1 0.68 15,000 0.48 2,400 1:1 2,400
18,000 2 1.35 36,000 1.15 2,400 1:1 4,800
22,200 2 1.35 44,400 1.41 3,000 1:1 6,000
22,800 9 6.08 2,05,200 6.53 3,000 1:1 27,000
22,800 (Lottery System - Serial No. of Qualifying Applicant is 2,4,5,6 & 7) 600 5:9 3,000
24,000 3 2.03 72,000 2.29 3,600 1:1 10,800
25,200 2 1.35 50,400 1.60 3,600 1:1 7,200
29,400 1 0.68 29,400 0.94 4,200 1:1 4,200
30,000 4 2.70 1,20,000 3.82 4,200 1:1 16,800
30,000 (Lottery System - Serial No. of Qualifying Applicant is 2) 600 1:4 600
33,600 2 1.35 67,200 2.14 4,800 1:1 9,600
36,000 3 2.03 1,08,000 3.44 5,400 1:1 16,200
37,200 1 0.68 37,200 1.18 5,400 1:1 5,400
39,000 1 0.68 39,000 1.24 5,400 1:1 5,400
40,800 1 0.68 40,800 1.30 6,000 1:1 6,000
45,000 2.70 1,80,000 5.73 6,600 1:1 26,400
45,600 1 0.68 45,600 1.45 6,600 1:1 6,600
90,000 1 0.68 90,000 2.87 13,200 1:1 13,200
91,200 1 0.68 91,200 2.90 13,200 1:1 13,200
1,36,200 1.35 2,72,400 8.67 19,800 1:1 39,600
1,50,000 1 0.68 1,50,000 4.78 22,200 1:1 22,200
3,60,000 1 0.68 3,60,000 11.46 52,200 1:1 52,200
5,55,000 1 0.68 5,55,000 17.67 81,000 1:1 81,000
Total 148 100.00 31,41,000 100.00 4,57,800

The Board of Directors of the Company at its meeting held on October 07,2016 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 forthe allotment of the Equity Shares to various successful applicants.

The CAN and allotment advice and / or notices have been dispatched to the address of the investors as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks have been processed on or before October 13,2016 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 Registrarto the Offer 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 Offer. The trading is proposed to be commenced on October 14,2016 subject to receipt of listing and trading approvals from BSE.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 19,2016 ("Prospectus").

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

BIGSHARE SERVICES PRIVATE LIMITED
E-2/3, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (E), Mumbai - 400 072.
Tel: +91 - 22 - 4043 2000; Fax: +91 - 22 - 2847 5207
Email: ipo@bigshareonline.com; Investor Grievance Email: investor@bigshareonline.com
Website: www.bigshareonline.com; Contact Person: Mr. Ashok Shetty

Date: October 13,2016
Place: Mumbai
For VALIANT ORGANICS LIMITED
On Behalf of the Board of Directors
Sd/-
Chairman & Managing Director

Valiant Organics IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Valiant Organics IPO?

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

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

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

  3. 3. What is Valiant Organics IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Valiant Organics 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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