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| SONA HI SONA JEWELLERS (GUJARAT) LIMITED |
Our Company was originally incorporated as 'Sona Hi Sona Jewellers (Gujarat) Private Limited' as a private limited company under the provisions of Companies Act, 1956 vide Certificate of incorporation dated February 09, 2010 issued by the Registrar of Compares, Gujarat, Dadra and Nagar Havelii Subsequently, our Company was converted into a public limited Company pursuant to a special resolution passed by our shareholders at the Extra ordinary General Meeting held on July 08, 2017 and consequently the name of our Company was changed to 'Sona Hi Sona Jewellers (Gujarat) Limited' and a fresh Certificate of Incorporation was issued by the Registrar of Companies Ahmedabad dated July 19, 2017. For further details, please refer the chapter titled 'History and Certain Corporate Matters' beginning on page 109 of the Prospectus.
| Registered Office: 7, Millennium Plaza, Opp. Swaminarayan Mandir, Mansi Cross Road; Vastrapur, Ahmedabad - 380013, Gujarat, India |
| Tel No: - +91 85111 91111; Website: www.sonahisona.com; E-Mail: cs@sonahisona.com Corporate Identification Number: U36S10GJ2010PLC059513; |
| Company Secretary and Compliance Officer: Falak Parikh |
| PROMOTERS OF THE COMPANY: VIJAY SHAH AND ALPABEN SHAH |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF 45,00,000 EQUITY SHARES OF FACE VALUE OF Rs 10.00/- EACH ('EQUITY SHARES') OF SONA HI SONA JEWELLERS (GUJARAT) LIMITED ( THE COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF 110.00/- PER EQUITY SHARE (THE 'ISSUE PRICE'), AGGREGATING TO Rs 450.00 LAKHS ('THE ISSUE'). OF WHICH 2,40,000 EQUITY SHARES OF FACE VALUE OF Rs 10.00 - EACH FOR CASH AT A PRICE OF Rs 10 00- EACH AGGREGATING Rs 24.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 42,60,000 EQUITY SHARES OF FACE VALUE OF Rs 10.00/- EACH FOR CASH AT A PRICE OF Rs 10.00 - PER EQUITY SHARE AGGREGATING TO Rs 426.00 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.81 % AND 25.38 % RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'TERMS OF THE ISSUE' BEGINNING ON PAGE 196 OF THE PROSPECTUS.
| THE FACE VALUE OF THE EQUITY SHARES IS Rs 10.00/- EACH AND THE ISSUE PRICE IS Rs 10.00/- EACH. |
| THE ISSUE PRICE IS 1.00 TIME OF THE FACE VALUE OF EQUITY SHARE |
| ISSUE OPENED ON: SEPTEMBER 30, 2019, ISSUE CLOSED ON: OCTOBER 04, 2019 |
The Equity Shares of the company offered through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Ltd ('NSE EMERGE') in terms of Chapter IX of SEBI (ICDR) Regulations, 2018. Our Company has received an In-principle approval letter dated September 09, 2019 from NSE Limited for listing our shares and for using its name in the offer document. For the purpose of the issue NSE EMERGE will be the Designated Stock Exchange The issue is being made through the Fixed Price Issue process, the allocation in the Net Issue to the Public category is made as per Regulation 253(2) of the SEBI (ICDR) Regulations, 2018 as amended from time to time, wherein a minimum 50% of the net issue of shares to retail individual investors and (b) remaining to: (i) individual applicants other than retail individual investors; and (ii) other investors including corporate bodies or institutions, irrespective of number of specified securities applied for; Provided that the unsubscribed portion in either of categories specified in clauses (a) or (b) may be allocated to applicants in the other category.
All investors have participated in this otter through ASBA process including through UPI mode (as applicable) by providing the details of the respective bank accounts / UPI ID as applicable In which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs') / Sponsor Bank as the case may be For details in this regard, specific attention is invited to chapter 'Issue Procedure' on page 201 of the Prospectus.
SUBSCRIPTION DETAILS
Details of the application:
The Issue has received 168 applications (before rejections and Bids not Banked) for 51,60,000 Equity Shares (Including Market Maker Application of 2,40,000 Equity Shares) resulting 1.15 times subscription. The details of the applications received in the Issue (before technical rejections but after Bids not banked) are as follows:
Details of Valid Applications Received (Before Technical Rejection and after Bids Not Banked)
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARE | SUBSCRIPTION |
| Market Maker | 1 | 2,40,000 | 1.00 |
| Other than Retail Individual Investors | 33 | 34,60,000 | 1.62 |
| Retail Individual Investors | 130 | 14,20,000 | 0.67 |
| TOTAL | 164 | 51,20,000 | 1.14 |
Details of Bids Not Banked are detailed below
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES |
| Other than Retail Individual Investors | Nil | Nil |
| Retail Individual Investors | 4 | 40,000 |
| TOTAL | 4 | 40,000 |
Details of valid Applications Received (After Technical Rejection):
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES |
| Market Maker | Nil | Nil |
| Other than Retail Individual Investors | Nil | Nil |
| Retail Individual Investors | 4 | 40,000 |
| TOTAL | 4 | 40,000 |
Details of valid Applications Received (After Technical Rejection):
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES | SUBSCRIPTION | REVISED SUBSCRIPTION |
| Market Maker | 1 | 2,40,000 | 1.00 | 1.00 |
| Other than Retail Individual Investors | 33 | 34,60,000 | 1.62 | 1.2014* |
| Retail Individual Investors | 126 | 13,80,000 | 0.65 | 1.00' |
| TOTAL | 160 | 50,80,000 | 1.128 | 1.128 |
#The under subscribed portion of 7,50,000 Equity shares from Retail Investors Category have been spilled over to other then Retail Individual Investors Category.
* includes original reservation of 21,30,000 Equity shares and spill over from Retail Investors Category of 7,50,000 Equity shares.
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-NSE on October 10, 2019.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs.10.00/- per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,40,000 Equity shares in full out of reserved portion of 2,40,000 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.10.00/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. Total number of shares allotted in this category is 13,80,000.
| No. of Shares Applied for (Category wise) | No. of Applications received | % to total | Total No. of Equity Shares applied in each Category | % to total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Oft) | Ratio of Allottees to the Applicants | Total No. of Shares allocated / allotted | Surplus / (Deficit) |
| 10,000 | 114 | 90.48 | 11,40,000 | 82.61 | 17,59,565 | 15,434.78 | 10,000 | 1:1 | 11,40,000 | (6,19,565) |
| 20,000 | 12 | 9.52 | 2,40,000 | 17.39 | 3,70,435 | 30,869 58 | 20,000 | 1:1 | 2,40,000 | (1,30,435) |
| Total | 126 | 100 | 13,80,000 | 100.00 | 21,30,000 | 13,80,000 | (7,50,000) |
C. Allocation to other then Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the other then Retail Individual Investors, at the issue price of Rs.10.00/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.2014 times. Total number of shares allotted in this category is 28,80,000:
| No. of Shares Applied for (Category wise) | No. of Applications received | % to total | Total No. of Equity Shares applied in each Category | % to 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 Shares allocated / allotted | Surplus/ (Deficit) |
| 30,000 | 13 | 39.39 | 3,90,000 | 11.27 | 3,24,626 | 24,971.23 | 20,000 | 1:1 | 2,60,000 | (64,626) |
| 30,000 | 10,000 | 7:13 | 70,000 | 70,000 | ||||||
| 40,000 | 1 | 3.03 | 40,000 | 1.15 | 33,295 | 33,295 | 30,000 | 1:1 | 30,000 | (3,295) |
| 50,000 | 9 | 27.27 | 4,50,000 | 13 | 3,74,566 | 41,618 44 | 40,000 | 1:1 | 3,60,000 | (14,566) |
| 50,000 | 10,000 | 1:9 | 10,000 | 10,000 | ||||||
| 60,000 | 1 | 3.03 | 60,000 | 1.73 | 49,942 | 49,942 | 50,000 | 1:1 | 50,000 | 58 |
| 1,00,000 | 3 | 909 | 3,00,000 | 8.67 | 2,49,711 | 83,237 | 80,000 | 1:1 | 2,40,000 | (9,711) |
| 1,00,000 | 10,000 | 1:3 | 10,000 | 10,000 | ||||||
| 1,90,000 | 1 | 3.03 | 1,90,000 | 5.49 | 1,58,150 | 1,58,150 | 1,60,000 | 1:1 | 1,60,000 | 1,850 |
| 2,30,000 | 1 | 3.03 | 2,30,000 | 6.64 | 1,91,445 | 1,91,445 | 1,90,000 | 1:1 | 1,90,000 | (1,445) |
| 2,50,000 | 1 | 3.03 | 2,50,000 | 7.22 | 2,08,092 | 2,08,092 | 2,10,000 | 1:1 | 2,10,000 | 1,908 |
| 3,00,000 | 1 | 303 | 3,00,000 | 8.67 | 2,49,711 | 2,49,711 | 2,50,000 | 1:1 | 2,50,000 | 289 |
| 5,00,000 | 1 | 3.03 | 5,00,000 | 14.45 | 4,16,185 | 4,16,185 | 4,20,000 | 1:1 | 4,20,000 | 3,815 |
| 7,50,000 | 1 | 303 | 7,50,000 | 21.67 | 6,24,277 | 6,24,277 | 6,20,000 | 1:1 | 6,20,000 | (4277) |
| Total | 33 | 100.00 | 34,60,000 | 100.00 | 28,80,000 | 28,80,000 | 0 |
The Board of Directors of the Company at its meeting held on October 11, 2019 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz, NSE and has authorized the corporate action for the allotment of the Equity Shares in dematerialized form to various successful applicants
The Allotment Advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before October 12, 2019. Further, the instructions to Self-Certified Syndicate Banks being processed on or prior to October 11, 2019 for unblocking fund. In case the same is not received within 10 days, investors may contact at the address given below. 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. The trading is proposed to be commenced on or before October 15, 2019 subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in. 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:
| REGISTRAR OF THE ISSUE |
| LINK INTIME INDIA PRIVATE LIMITED |
| C-101,1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai 400083, Maharashtra, India. Tel No: 022 - 4918 6200 |
| Fax No: 022 - 49186195 Email id: sonahisona.ipo@linkintime.co.in Website: www.linkintime.co.in |
| Investor Grievance E-mail: sonahisona.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
| For, Sona Hi Sona Jewellers (Gujarat) Limited | |
| Sd/- | |
| Place: Ahmedabad | Vijay Shah |
| Date: October 12, 2019 | Managing Director |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF SONA HI SONA JEWELLERS (GUJARAT) LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.
The Equity Shares have not been and will not be registered under the US Securities Act ('the Securities Act') or any state securities law in United States and may not be issued or sold within the United States or to, or for the account or benefit of. 'U.S. persons' (as defined in the Regulations under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act of 1993.
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 Sona Hi Sona IPO .
The Sona Hi Sona IPO basis of allotment (published above) tells you how shares are allocated to you in Sona Hi Sona IPO and category wise demand of IPO share.
Visit the Sona Hi Sona IPO allotment status page to check the number of shares allocated to your application.
In Sona Hi Sona 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 Sona Hi Sona IPO basis of allotment document to know how the shares are allocated in Sona Hi Sona IPO.
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