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NARAYANI STEELS LIMITED Our Company was incorporated as 'Narayani Steels Private Limited' under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated February 10,1995 issued by Registrar of Companies, Andhra Pradesh bearing Registration No. 01 -19412 at Vizianagaram, Andhra Pradesh. Subsequently our Company was converted into a Public Limited Company pursuant to Shareholders' Resolution passed at the Annual General Meeting of the Company held on August 17, 2015 and the name of our Company was changed to 'Narayani Steels Limited' vide fresh Certificate of Incorporation dated August 24,2015. The Corporate Identification Number of our Company (CIN) is U27109WB1996PLC082021. For details of Incorporation, Change of Name and Registered Office of our Company, please refer chapters titled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 71 and 174 respectively of the Prospectus. Registered Office: 23A, N.S. Road, 7th Floor, Room No. - 31, Kolkata
700 001, West Bengal, India PROMOTERS OF OUR COMPANY: SUNIL CHOUDHARY AND SUNIL CHOUDHARY HUF BASIS OF ALLOTMENT PUBLIC ISSUE OF 36,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ('EQUITY SHARES') OF NARAYANI STEELS LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 32 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 22 PER EQUITY SHARE (THE 'ISSUE PRICE'), AGGREGATING RS. 1,152 LAKHS ('THE ISSUE'), OF WHICH 1,88,000 EQUITY SHARES OF FACE VALUE RS. 10 EACH FOR CASH AT A PRICE OF RS. 32 PER EQUITY SHARE, AGGREGATING RS. 60.16 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 34,12,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 32 PER EQUITY SHARE, AGGREGATING RS. 1,091.84 LAKHS IS HEREINAFTER REFERED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 33.00% AND 31.28% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. In terms of Prospectus dated August 25,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein (a) minimum of 50% of the Net Offerto Public shall initially be made available to Retail Individual Investors. (b) the balance net offer of shares to the public shall be made available for allotment to (i) individual applicants other than retail investors and (ii) other investors including corporate bodies/ institutions irrespective of no. of shares applied for. (c) the unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required. Explanation: for the purpose of Regulation 43(4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage. All Investors have participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter 'Issue Procedure' on page 355 of the Prospectus. THE F/ICE VALUE OF EQUITY SHARES IS RS. 10 EACH. THE ISSUE PRICE OF
RS. 32.00 IS 3.2 TIMES OF THE FACE VALUE The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE') ('BSE SME') in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. The Company is not required to obtain an in-principle approval for the shares being offered in this Issue. However, the Company has received an approval letter dated December 09,2015 from BSE for using its name in the Prospectus for listing of our Shares on BSE SME. The designated stock exchange is BSE SME. SUBSCRIPTION DETAILS The Issue has received 539 applications for 51,60,000 Equity shares (Before Technical Rejections) (including Market Maker Application of 1,88,000 Equity Shares) resulting 1.43 times subscription. After considering, Technical Rejection cases, the issue was subscribed 1.41 times (including the Market Maker Portion). The details of application received (Before Technical Rejection)
The details of applications rejected by the Registrar on technical grounds are detailed below:
Detail of the Applications Received (After Technical Rejection):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on September 7, 2016. A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 32/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,88,000 Equity shares in full out of reserved portion of 1,88,000 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. 32/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.178 times. Total number of shares allotted in this category is 17,08,000 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 32/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.697 times. Total number of shares allotted in this category is 17,04,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on September 07,2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before September 12,2016. Further, the instructions to SCSBs shall be issued on September 08,2016 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 fortrading on the SME Platform of BSE within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before September 14,2016 subject to receipt of listing and trading approvals from BSE. INVESTORS PLEASE NOTE The details of the allotment made would also be hosted on the website of the Registrar to the Issue at www.bigshareonline.com. 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: 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 Narayani Steels IPO .
The Narayani Steels IPO basis of allotment (published above) tells you how shares are allocated to you in Narayani Steels IPO and category wise demand of IPO share.
Visit the Narayani Steels IPO allotment status page to check the number of shares allocated to your application.
In Narayani Steels 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 Narayani Steels IPO basis of allotment document to know how the shares are allocated in Narayani Steels IPO.
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