Zerodha (Trading Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
Zerodha (Trading Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
|
|
Our Company was originally incorporated as "Manorama Industries Private Limited" at Raipur, Chhattisgarh, as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated August 9, 2005 bearing Corporate Identification Number U15142CT2005PTC17858 issued by Registrar of Companies, Madhya Pradesh & Chhattisgarh. Subsequently our Company was converted in to Public Limited Company pursuant to shareholders resolution passed at Extraordinary General Meeting of our Company held on February 06, 2018 and the name of our Company was changed to "Manorama Industries Limited" and a Fresh Certificate of Incorporation consequent upon conversion of company to Public Limited dated March 23, 2018 was issued by Registrar of Companies, Maharashtra. The Corporate identification number of our Company is U15142MH2005PLC243687.
| Registered Office: Office No 403, 4th Floor, Midas, Sahar Plaza, Andheri Kurla Road, Andheri East, Mumbai- 400059 |
| Corporate Office: F-6, Anupam Nagar, Raipur 492007 Chattisgarh- 492007 Corporate Identification Number: U15142MH2005PLC243687. Tel: 022-67088148; Fax: NA |
| Contact Person: Divya Jajoo, Company Secretary & Compliance Officer Email: investors@manoramagroup.co.in; Website: www.manoramagroup.co.in |
| #AII correspondences shall be directed to Corporate Office. |
| PROMOTER OF OUR COMPANY: VINITA SARAF |
BASIS OF ALLOTMENT
INITIAL PUBLIC ISSUE OF 34,04,400 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 188/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 178/- PER EQUITY SHARE) AGGREGATING TO RS. 6,400.27 LAKHS (THE "ISSUE"), OF WHICH 1,71,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 188/- PER EQUITY SHARE, AGGREGATING RS. 321.48 LAKHS WAS RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 32,33,400 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 188/- PER EQUITY SHARE, AGGREGATING TO RS. 6,078.79 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.59% AND 29.06% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
Risks to Investors:
| I. | As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoter viz. Vinita Saraf is Rs.14.81. |
| II. | This being the first public Issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Floor Price is 18.1 times the face value and the Cap Price is 18.8 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM as stated in "Basis for Issue Price" on page 118 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing. All Investors have participated in this Issue through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 287 of the Prospectus. |
THE FACE VALUE OF EQUITY SHARES IS RS.
10/- EACH.
THE ISSUE PRICE IS RS. 188/- AND IS 18.8 TIMES THE FACE VALUE OF THE EQUITY SHARES
ISSUE OPENED ON: FRIDAY, SEPTEMBER 21, 2018 AND CLOSED ON: TUESDAY, SEPTEMBER 25, 2018
In terms of Rule 19(2) (b) (i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue is being made for at least 25% of the post-issue paid-up Equity Share capital of our Company. The Issue is being made through the Book Building Process, in accordance with chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended the ("SEBIICDR Regulations") wherein 16.46% of the Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Category"), 5.00% of the QIB Category was available for allocation on a proportionate basis to Mutual Funds only and the remainder was available for allocation on a proportionate basis to QIBs including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, 41.77% of the Net Issue was available for allocation on a proportionate basis to Non-lnstitutional Investors and 41.77% of the Net Issue was available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. During Bid/Offer Period all investors shall participate in this Issue through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which was blocked by SCSBs. For further details please refer the section titled 'Issue Information' beginning on page 274 of the Prospectus.
The Equity Shares of our Company issued through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ('SME BSE'), in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. Our Company has received an in-principle approval letter dated July 2, 2018 from BSE Limited for using its name in the Offer document for listing of our shares on the SME Platform of BSE Limited. For the purpose of this Issue BSE Limited is the Designated Stock Exchange.
SUBSCRIPTION DETAILS
The Issue has received 851 applications for 34,27,200 Equity shares (Before Technical Rejections, Multiple Rejections but after bids not banked Invalid Bids Multiple, Invalid Bids Duplicate) including Market Maker Application of 1,71,000 Equity Shares. The issue was subscribed to the extent of 1.01 times as per the application data (before technical rejection, multiple rejections, but after bids not banked, Invalid Bids Multiple, Invalid Bids Duplicate). After considering the technical rejections cases, the issue was subscribed 0.97 times (including Market Maker Portion.)
The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES | SUBSCRIPTION | AMOUNT IN RS. |
| Market Maker | 1 | 1,71,000 | 1.00 | 3,21,48,000.00 |
| Retail Individual Investors | 749 | 4,49,400 | 0.33 | 8,44,53,600.00 |
| Non Institutional Investors | 95 | 19,78,800 | 1.46 | 37,20,14,400.00 |
| Non Institutional Investors - Underwriting | 2 | 64,200 | - | 1,20,69,600.00 |
| Qualified Institutional Buyer | 6 | 8,28,000 | 1.55 | 15,56,64,000.00 |
| Qualified Institutional Bidders - Underwriting | 1 | 26,400 | - | 49,63,200.00 |
| TOTAL | 854 | 35,17,800 | 1.03 | 66,13,12,800.00 |
Final Demand
| Sr No | Bid Price | No of Equity Shares Bid for | % to total | Cumulative Total | Cumulative % of total |
| 1 | 181 | 6,600 | 0.19 | 6,600 | 0.19 |
| 2 | 182 | 1,800 | 0.05 | 8,400 | 0.24 |
| 3 | 183 | 1,800 | 0.05 | 10,200 | 0.29 |
| 4 | 185 | 600 | 0.02 | 10,800 | 0.31 |
| 5 | 187 | 600 | 0.02 | 11,400 | 0.33 |
| 6 | 188 | 33,36,000 | 95.83 | 33,47,400 | 96.16 |
| 7 | CUTOFF | 1,33,800 | 3.84 | 34,81,200 | 100.00 |
| Total | 34,81,200 | 100.00 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on October 01, 2018
| A. | Allocation to Market Maker (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 188/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,71,000 Equity shares in full out of reserved portion of 1,71,000 Equity Shares. |
| B | Allocation to Retail Individual Investors (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 188/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.33 times. Total number of shares allotted in this category is 4,40,400 Equity Shares. The category wise basis of allotment is as under: |
| No. of Shares Applied for (Category wise) | No. of Applications received | % to total | Total No. of Equity Shares applied | % of total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to the Applicants | Total No. of Equity Shares Allotted | Surplus/ (Deficit) |
| 600 | 734 | 100.00 | 4,40,400 | 100.00 | 13,50,600 | 1840.05 | 600.00 | 1:1 | 4,40,400 | -9,10,200 |
| C. | Allocation to Non Institutional Investor (After Technical Rejection and Multiple Rejections): The Basis of Allotment to Non Institutional Investors, at the issue price of Rs. 188 /- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 times. Total number of shares allotted in this category is 22,60,800 Equity Shares. (Including unsubscribed portion of 9,10,200 Equity Shares of Retail Individual Investors Category & Underwritten Portion of 64,200 Equity hares) . The category wise basis of allotment is as under: |
| No. of Shares Applied for (Category wise) | No. of Applications received | % to total | Total No. of Equity Shares applied | % of total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to the Applicants | Total No. of Equity Shares Allotted | Surplus/ (Deficit) |
| 1,200 | 13 | 13.68 | 15,600 | 0.71 | 16,054 | 1235.08 | 1200.00 | 1:1 | 15600 | -454 |
| 1,800 | 6 | 6.32 | 10,800 | 0.49 | 11,116 | 1852.67 | 1800.00 | 1:1 | 10800 | -316 |
| 2,400 | 8 | 8.42 | 19,200 | 0.87 | 19,761 | 2470.13 | 2400.00 | 1:1 | 19200 | -561 |
| 3,000 | 15 | 15.79 | 45,000 | 2.05 | 46,315 | 3087.67 | 3000.00 | 1:1 | 45000 | -1315 |
| 4,200 | 1 | 1.05 | 4,200 | 0.19 | 4,323 | 4323.00 | 4200.00 | 1:1 | 4200 | -123 |
| 4,800 | 1 | 1.05 | 4,800 | 0.22 | 4,940 | 4940.00 | 4800.00 | 1:1 | 4800 | -140 |
| 5,400 | 3 | 3.16 | 16,200 | 0.74 | 16,673 | 5557.67 | 5400.00 | 1:1 | 16200 | -473 |
| 6,000 | 2 | 2.11 | 12,000 | 0.55 | 12,351 | 6175.50 | 6000.00 | 1:1 | 12000 | -351 |
| 7,800 | 3 | 3.16 | 23,400 | 1.07 | 24,084 | 8028.00 | 7800.00 | 1:1 | 23400 | -684 |
| 9,000 | 1 | 1.05 | 9,000 | 0.41 | 9,263 | 9263.00 | 9000.00 | 1:1 | 9000 | -263 |
| 9,600 | 1 | 1.05 | 9,600 | 0.44 | 9,881 | 9881.00 | 9600.00 | 1:1 | 9600 | -281 |
| 10,200 | 1 | 1.05 | 10,200 | 0.46 | 10,498 | 10498.00 | 10200.00 | 1:1 | 10200 | -298 |
| 10,800 | 3 | 3.16 | 32,400 | 1.48 | 33,347 | 11115.67 | 10800.00 | 1:1 | 32400 | -947 |
| 12,000 | 4 | 4.21 | 48,000 | 2.19 | 49,403 | 12350.75 | 12000.00 | 1:1 | 48000 | -1403 |
| 13,200 | 9 | 9.47 | 1,18,800 | 5.41 | 1,22,272 | 13585.78 | 13200.00 | 1:1 | 118800 | -3472 |
| 21,000 | 1 | 1.05 | 21,000 | 0.96 | 21,614 | 21614.00 | 21000.00 | 1:1 | 21000 | -614 |
| 26,400 | 1 | 1.05 | 26,400 | 1.20 | 27,172 | 27172.00 | 26400.00 | 1:1 | 26400 | -772 |
| 27,000 | 2 | 2.11 | 54,000 | 2.46 | 55,578 | 27789.00 | 27000.00 | 1:1 | 54000 | -1578 |
| 30,000 | 1 | 1.05 | 30,000 | 1.37 | 30,877 | 30877.00 | 30000.00 | 1:1 | 30000 | -877 |
| 32,400 | 1 | 1.05 | 32,400 | 1.48 | 33,347 | 33347.00 | 32400.00 | 1:1 | 32400 | -947 |
| 43,200 | 1 | 1.05 | 43,200 | 1.97 | 44,463 | 44463.00 | 43200.00 | 1:1 | 43200 | -1253 |
| 52,800 | 4 | 4.21 | 2,11,200 | 9.61 | 2,17,373 | 54343.25 | 52800.00 | 1:1 | 211200 | -6173 |
| 53,400 | 2 | 2.11 | 1,06,800 | 4.86 | 1,09,921 | 54960.50 | 53400.00 | 1:1 | 106800 | -3121 |
| 54,000 | 1 | 1.05 | 54,000 | 2.46 | 55,578 | 55578.00 | 54000.00 | 1:1 | 54000 | -1578 |
| 60,000 | 1 | 1.05 | 60,000 | 2.73 | 61,754 | 61754.00 | 60000.00 | 1:1 | 60000 | -1754 |
| 79.200 | 1 | 1.05 | 79.200 | 3.61 | 81,515 | 81515.00 | 79200.00 | 1:1 | 79200 | -2315 |
| 1,06,200 | 5 | 5.26 | 5,31,000 | 24.17 | 5,46,520 | 109304.00 | 106200.00 | 1:1 | 531000 | -15520 |
| 1,16,400 | 1 | 1.05 | 1,16,400 | 5.30 | 1,19,802 | 119802.00 | 116400.00 | 1:1 | 116400 | -3402 |
| 1,86,000 | 1 | 1.05 | 1,85,000 | 8.47 | 1,91,436 | 191436.00 | 186000.00 | 1:1 | 186000 | -5436 |
| 2,65,800 | 1 | 1.05 | 2,65,800 | 12.10 | 2,73,559 | 273569.00 | 265800.00 | 1:1 | 265800 | -7769 |
| 95 | 100.00 | 21,96,600 | 100.00 | 22,60,800 | 2196600 | -64,200* |
* As per prospectus dated September 27, 2018, the issue is 100% underwritten with reference to underwriting agreement dated May 29, 2018. As HNI/NII category is technically undersubscribed to the extent of 64,200 Equity shares due to rejection of certain applications due to varied reasons the Underwriter is obliged to subscribe the unsubscribed portion in terms of the cited underwriting agreement. Hence, the Underwriter has procured in Rs. 1,20,69,600.00 for 64,200 Equity shares at the rate of Rs. 188.00 (cut off price) per Equity Share by transferring funds in to public issue account no. 000405117356 having account title MANORAMA INDUSTRIES LIMITED-PUBLIC ISSUE ACCOUNT with ICICI Bank on October 01, 2018, which has accordingly considered while doing basis of allotment under HNI portion.
| D. | Allocation to Qualified Institutional Investor (After Technical Rejection and multiple rejections) |
| Qualified Institutional Investor at the issue price of Rs. 188/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 times. Total number of shares allotted in this category is 5,32,200 Equity Shares. (Including underwritten Portion of 26,400 Equity Shares). The category wise basis of allotment is as under: |
| No. of Shares Applied for (Category wise) | No. of Applications received | % to total | Total No. of Equity Shares applied | % of total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding OH) | Ratio of Allottees to the Applicants | Total No. of Equity Shares Allotted | Surplus/ (Deficit) |
| 27000 | 1 | 33.33 | 27000 | 5.34 | 28410 | 28409.00 | 27000.00 | 1:1 | 27000 | -1410 |
| 213000 | 1 | 33.33 | 213000 | 42.11 | 224117 | 224117.00 | 213000.00 | 1:1 | 213000 | -11117 |
| 265800 | 1 | 33.33 | 265800 | 52.55 | 279673 | 279673.00 | 265800.00 | 1:1 | 265800 | -13873 |
| GRANDTOTAL | 3 | 100.00 | 5,05,800 | 100.00 | 5,32,200 | 5,05,800 | -26400* |
*As per prospectus dated September 27, 2018, the issue is 100% underwritten with reference to underwriting agreement dated May 29, 2018. As QIB category is undersubscribed to the extent of 26,400 shares, the Underwriter is obliged to subscribe the unsubscribed portion in terms of the cited underwriting agreement. Hence, the Underwriter has brought in Rs. 49,63,200/- for 26,400 Equity shares at the rate of Rs. 188.00 (cut off price) per Equity Share by transferring funds in to public issue account no. 000405117356 having account title MANORAMA INDUSTRIES LIMITED - PUBLIC ISSUE ACCOUNT with ICICI Bank on October 01, 2018, which has accordingly considered while doing basis of allotment under QIB portion. Accordingly, 26,400 equity shares pursuant to the aforesaid underwriting obligation shall be allotted to the Underwriters viz., Pantomath Capital Advisors Private Limited.
The category -wise details of the Basis of Allotment are as under:
| Category | NBF | MF's | FPC | Bodies Corporate | AIF | Fll | CBO | Total |
| QIB | 2,13,000 | - | 2,65,800 | - | 27,000 | - | 26,400 | 5,32,200 |
The Board of Directors of the Company at its meeting held on October 01, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The Allotment cum refund advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs have been issued on October 03, 2018 for unblocking of funds. 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. 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 the BSE Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on October 04, 2018 subject to receipt of listing and trading approvals from BSE Limited.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar 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 of the Registrar given below:
| Link Intime India Private Limited | ||
| C-101,1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083, | ||
| Maharashtra, India Tel: +91 022 49186200 Fax: +91 022 49186195 | ||
| Email: manorama.ipo@linkintime.co.in | ||
| Investor grievance mail: manorama.ipo@linkintime.co.in Website: www.linkintime.co.in | ||
| Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 | ||
| For Manorama Industries Limited | ||
| On behalf of the Board of Directors | ||
| Sd/- | ||
| Vinita Saraf | ||
| Chairman & Managing Director | ||
| Date: October 03, 2018 | ||
| Place: Mumbai | ||
The IPO allocation is based on the subscription level and the investor category.
Refer to IPO allotment rules and methods for more details.
See the basis of allotment document above to know how the shares are allocated in Manorama Industries IPO .
The Manorama Industries IPO basis of allotment (published above) tells you how shares are allocated to you in Manorama Industries IPO and category wise demand of IPO share.
Visit the Manorama Industries IPO allotment status page to check the number of shares allocated to your application.
In Manorama Industries IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.
For more information, please refer to IPO Allotment Process and Basis of Allotment.
Check the Manorama Industries IPO basis of allotment document to know how the shares are allocated in Manorama Industries IPO.
Useful Articles
FREE Intraday Trading (Eq, F&O)
Flat ₹20 Per Trade in F&O
|
|
RHP
