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MMP Industries Limited Our Company was originally incorporated as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation issued by the Registrar of Companies, Rajasthan, Jaipur dated October 8, 1973 with the name 'Semi Conductor Packages Private Limited'. Subsequently the name of our company was changed to 'Maharashtra Metal Powders Private Limited' and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Maharashtra, Bombay on October 18, 1984. Subsequently, our Company was converted into a public limited company pursuant to approval of the shareholders at an extraordinary general meeting held on May 13,1994 and consequently, the name of our Company was changed to 'Maharashtra Metal Powders Limited' and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the Registrar of Companies, Maharashtra, Bombay on December 28,1994. Subsequently, the name of our company was changed to 'MMP Industries Limited' and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Maharashtra, Mumbai on June 19,2012. For further details of our Company, refer 'General Information' and 'History and Certain Other Corporate Matters' on pages 60 and 134 respectively of the Prospectus. Corporate Identification Number: U32300MH1973PLC030813 Registered Office: 211, Shrimohini 345, Kingsway, Nagpur - 440
001, Maharashtra, India. | Tel No.: +91 712 252 4645 / 253 3585 | Fax. No.:
+91 712 253 0461 BASIS OF ALLOTMENT PUBLIC ISSUE OF 45,00,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF MMP INDUSTRIES LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 188.00 PER EQUITY SHARE ('ISSUE PRICE') (INCLUDING A SHARE PREMIUM OF RS 178.00 PER EQUITY SHARE) AGGREGATING TO RS 8,460.00 LAKHS ('THE ISSUE'). OF THE ISSUE, 2,25,000 EQUITY SHARES AGGREGATING TO RS 423.00 LAKHS WERE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 42,75,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 188.00 PER EQUITY SHARE AGGREGATING TO RS 8037.00 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.57% AND 25.24%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. 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 in accordance witti Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time ('SEBI (ICDR) Regulations'), wherein not more than 50.00% of the Net Issue was allocated on a proportionate basis to QIBs, provided that our Company, in consultation with the BRLM allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion (excluding Anchor Investor Portion) was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, 15.00% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Investors and 35.00% 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. All investors (except Anchor Investors) were required to participate in this Issue mandatorily through the Applications Supported by Blocked Amount ('ASBA') process by providing details of their respective bank accounts which were blocked by SCSBs. For details, refer 'Issue Procedure' on page 268 of the Prospectus. RISK TO INVESTORS 1. The Book Running Lead Manager associated with the Issue have handled 25 public issues in the past three financial years (i.e. 2016,2017 and 2018) out of which 3 public issues closed below the issue price on listing date. 2. The average cost of acquisition per equity share of our Promoter, Arun Bhandari is Rs 6.12. THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE
PRICE OF RS 188 IS 18.80 TIMES OF THE FACE VALUE *THE ANCHOR INVESTOR BID / ISSUE PERIOD WAS MARCH 27, 2018 | PROPOSED LISTING: THURSDAY, APRIL 12, 2018 The Equity Shares offered through the Prospectus are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE Emerge). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time, we are not required to obtain an in-principal listing approval for the shares being offered in this Issue. However, our Company has received an approval letter dated March 6, 2018 from NSE for using its name in the Prospectus for listing of our Equity Shares on the NSE Emerge. For the purpose of this Issue, National Stock Exchange of India Limited (NSE) shall be the Designated Stock Exchange. The trading is proposed to be commenced with effect from THURSDAY APRIL 12, 2018 * Subject to receipt of listing and trading approvals from the NSE. All Applicants participated in the Issue 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 Detail of Anchor Investors: The bidding period for Anchor Investors opened on Tuesday, March 27,2018 and closed on Tuesday, March 27,2018. The Company received 2 Anchor Investor Bid Cum Application forms from 2 Anchor Investors for 1596600 Equity Shares. 2 Anchor Investors were allocated 1281600 Equity Shares at a Price of Rs 188.00 Per Equity Share under the Anchor Investor Portion, aggregating to Rs 24,09,40,800.00. After the aforesaid allocation to Anchor Investors, the 32,18,400 equity shares available under the Issue out of which 2,25,000 equity shares were reserved for Market Maker, hence the net issue to public was of 2993400 equity shares. The Issue opened for subscription on March 28, 2018 and closed on April 04, 2018 in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the 'SEBI Regulations'). This being a book built issue, after the closure of the Issue, the Board Directors of the Company in consultation with BRLM to the Issue finalized the Issue Price at Rs 188.00 per Equity Share. The Issue has received 2882 applications for 36,30,600 Equity Shares resulting in 1.13 times subscription (including reserved portion of Market Maker and excluding Anchor investor portion). The details of the applications received in the Issue (before technical rejections) are as follows: Detail of the Applications Received (Before Technical Rejection)
The details of applications rejected by the Registrar on technical grounds / withdrawal are detailed below: Technical rejection / Withdrawal
After eliminating Technically Rejected applications, the following table gives the details of Category wise net valid applications: After technical rejections
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - NSE on April 9, 2018. A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 188 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 2,25,000 Equity Shares. B. Allocation to Retail Individual Investors (After Technical 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 NSE. The category was subscribed 1.12 times. The total number of shares allotted in this category is 14,96,400 Equity Shares to 2494 successful applicants. The Category-wise details of the Basis of Allotment are as under:
C. Allocation to Non Retail Investors (After Technical Rejections): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs 188 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.00 time. The total number of shares allotted in this category is 6,41,400 Equity Shares to 41 successful applicants. The Category-wise details of the Basis of Allotment are as under:
D. Allocation to QIB (Mutual Fund) (After Technical Rejections): The Basis of Allotment to the QIB (Mutual Fund), at the issue price of Rs 188 per Equity Share, was finalized in consultation with NSE. The total number of shares allotted in this category is 43,200 Equity Shares to 1 applicant. The Category-wise details of the Basis of Allotment are as under:
E. Allocation to QIB (Mutual Fund+Others) (After Technical Rejections): The Basis of Allotment to the QIB (Mutual Fund+Others), at the issue price of Rs 188 per Equity Share, was finalized in consultation with NSE. The total number of shares allotted in this category is 812400 Equity Shares to 4 successful applicants. The Category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on April 10, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants. The CAN and allotment advice and / or notices are being dispatched to the address of the Applicants as registered with the depositories on or before April 12, 2018. Further, the instructions to Self Certified Syndicate Banks are being processed on April 10, 2018. 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 NSE Emerge 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 meaning assigned to them in the Prospectus dated April 5, 2018 ('Prospectus'). The details of the allotment made would also be hosted on the website of the Registrar to the Issue, BIGSHARE SERVICES 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
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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 MMP Industries IPO .
The MMP Industries IPO basis of allotment (published above) tells you how shares are allocated to you in MMP Industries IPO and category wise demand of IPO share.
Visit the MMP Industries IPO allotment status page to check the number of shares allocated to your application.
In MMP 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 MMP Industries IPO basis of allotment document to know how the shares are allocated in MMP Industries IPO.
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