Our Company was originally incorporated as "Iris
Clothings Private Limited" under the Provisions of the Companies Act, 1956 on August
27, 2011 bearing Corporate Identification Number U18109WB2011PTC166895 issued by the
Registrar of Companies, West Bengal. Our Company was subsequently converted into a Public
Limited Company and consequently name was changed to "Iris Clothings Limited"
and Fresh Certificate of Incorporation was issued by the Registrar of Companies, West
Bengal on July 24, 2018. For further details in relation to the change in the name of our
Company, please refer to the section titled "History and certain Corporate
Information" beginning on page 108 of the Prospectus.
Registered Office: 103/24/1,
Foreshore Road, Shibpur, Binani Metal Compound, Howrah, West Bengal - 711102. |
Tel: +91-33-26373856 | Fax:
+91-33-26404674 | E-Mail: accounts@irisclothings.in
| Website: www.doreme.in |
CONTACT PERSON: MR. NIRAJ
AGARWAL. CHIEF FINANCIAL OFFICER |
PROMOTERS OF THE
COMPANY: MR. SANTOSH LADHA AND MRS. GEETA LADHA |
BASIS OF ALLOTMENT |
PUBLIC ISSUE OF 12,30,400 EQUITY SHARES OF RS. 10 EACH
("EQUITY SHARES") OF IRIS CLOTHINGS LIMITED ("ICL" OR THE
"COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 90 PER SHARE
(THE "ISSUE PRICE"), INCLUDING A PREMIUM OF RS. 80 PER SHARE, AGGREGATING TO RS.
1,107.36 LACS ("THE ISSUE"), OF WHICH, 62,400 EQUITY SHARES OF RS. 10 EACH WILL
BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (AS DEFINED IN THE SECTION
"DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER RESERVATION
PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF
11,68,000 EQUITY SHARES OF RS. 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET
ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.40% AND 25.06%, RESPECTIVELY
OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE OF OUR
EQUITY SHARES IS RS. 10 EACH AND |
THE ISSUE PRICE
IS RS. 90 , WHICH IS 9 TIMES (NINE) THE FACE VALUE. |
ISSUE OPENED ON
10TH OCTOBER, 2018 AND CLOSED ON 12TH OCTOBER, 2018 |
The Equity Shares of the Company are proposed to be
listed on the EMERGE Platform of National Stock Exchange of India Limited
("NSE"). Our Company has received an approval from NSE for the listing of the
Equity Shares pursuant to letter dated September 06,2018. NSE shall be the Designated
Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on
October 23, 2018 (Subject to receipt of listing and trading approvals from the NSE).
The Issue is a Fixed Price Issue wherein 50% of Net
Issue of the Equity Share offered are reserved for allocation to Applicants below or equal
to Rs. 2.00 lakhs and the balance for higher amount Applicants. The Issue comprises a Net
Issue to Public of 11,68,000 Equity Shares of Rs. 10 each ("the Net Issue"), and
a reservation of 62,400 Equity Shares of Rs. 10 each for subscription by the designated
Market Maker ("the Market Maker Reservation Portion"). The Issue and the Net
Issue will constitute 26.40% and 25.06%, respectively of the Post Issue Paid-up Equity
Share Capital of the Company. Allocation to all categories shall be made on a
proportionate basis subject to valid Applications received at or above the Issue Price.
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 Designated 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
this Issue only through APPLICATION 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 issue received 126 applications
for 13,32,800 equity shares (including reserved portion of Market Maker) resulting in 1.08
times subscriptions. Out of the same, 7 application of aggregating to 11,200 equity shares
were not banked. Hence 119 applications for 13,21,600 equity shares (including reserved
portion of Market Maker) resulting 1.07 times subscriptions was considered. The details of
the applications received in the Issue (before technical rejections) are as follows:
Detail of the Applications Received (Before and after
Technical Rejection)
Category |
Before Technical
Rejection |
After Technical Rejection
/ Withdrawals |
No. of Applications |
No. of Equity Shares |
No. of Applications |
No. of Equity Shares |
Market Maker |
1 |
62,400 |
1 |
62,400 |
Retail Individual Applicant |
91 |
1,45,600 |
88 |
1,40,800 |
Non Retail Applicant |
27 |
11,13,600 |
27 |
11,13,600 |
Total |
119 |
13,21,600 |
116 |
13,16,800 |
In the event of over subscription, the allotment will be
made on a proportionate basis in marketable lots. There was over subscription of 5,29,600
Equity Shares in Non Retail Category. The Basis of Allotment was finalized with the
Designated Stock Exchange - NSE on 17th October, 2018
A. |
Allocation to Market Maker
(After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue
price of Rs. 90 per Equity Share, was finalized in consultation with NSE. The category was
subscribed by 1.00 times. The total number of shares allotted in this category is 62,400
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. 90 per Equity Share, was finalised
in consultation with NSE. The total number of shares allocated in this category is
5,84,000 Equity Shares after adjusting for the purpose of rounding off to the nearest
multiple of 1600 Equity Share (Lot Size). The category was under- subscribed by 0.2411
times. 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) |
1600 |
88 |
100 |
140800 |
100 |
584000 |
6636.36 |
1600 |
1:1 |
140800 |
443200 |
Total |
88 |
100 |
140800 |
100 |
584000 |
6636.36 |
1600 |
1:1 |
140800 |
443200 |
|
|
C. |
Allocation to Other than Retail Individual Investors
(After Technical Rejections): The Basis of Allotment to the Non Institutional
Investors, at the issue price of 190 per Equity Share, was finalized in consultation with
NSE. The category was subscribed by 1.9068 times. 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) |
3200 |
5 |
18.52 |
16000 |
1.44 |
14758.62 |
2951.72 |
1600 |
1:1 |
8000 |
(6758.62) |
|
|
|
|
|
|
|
1600 |
4:5 |
6400 |
6400 |
4800 |
4 |
14.81 |
19200 |
1.72 |
17710.34 |
4427.59 |
3200 |
1:1 |
12800 |
(4910.34) |
|
|
|
|
|
|
|
1600 |
3:4 |
4800 |
4800 |
6400 |
1 |
3.70 |
6400 |
0.57 |
5903.45 |
5903.45 |
6400 |
1:1 |
6400 |
496.55 |
8000 |
1 |
3.70 |
8000 |
0.72 |
7379.31 |
7379.31 |
8000 |
1:1 |
8000 |
620.69 |
9600 |
1 |
3.70 |
9600 |
0.86 |
8855.17 |
8855.17 |
9600 |
1:1 |
9600 |
744.83 |
11200 |
2 |
7.41 |
22400 |
2.01 |
20662.07 |
10331.03 |
9600 |
1:1 |
19200 |
(1462.07) |
|
|
|
|
|
|
|
1600 |
1:2 |
1600 |
1600 |
12800 |
1 |
3.70 |
12800 |
1.25 |
11806.90 |
11806.90 |
11200 |
1:1 |
11200 |
(606.90) |
14400 |
1 |
3.70 |
14400 |
1.29 |
13282.76 |
13282.76 |
12800 |
1:1 |
12800 |
(482.76) |
16000 |
1 |
3.70 |
16000 |
1.44 |
14758.62 |
14758.62 |
14400 |
1:1 |
14400 |
(358.62) |
17600 |
1 |
3.70 |
17600 |
1.58 |
16234.48 |
16234.48 |
16000 |
1:1 |
16000 |
(234.48) |
20800 |
1 |
3.70 |
20800 |
1.87 |
19186.21 |
19186.21 |
19200 |
1:1 |
19200 |
13.79 |
22400 |
1 |
3.70 |
22400 |
2.01 |
20662.07 |
20662.07 |
20800 |
1:1 |
20800 |
137.93 |
25600 |
1 |
3.70 |
25600 |
2.30 |
23613.79 |
23613.79 |
24000 |
1:1 |
24000 |
386.21 |
27200 |
1 |
3.70 |
27200 |
2.44 |
25089.66 |
25089.66 |
25600 |
1:1 |
25600 |
510.34 |
33600 |
1 |
3.70 |
33600 |
3.02 |
30993.10 |
30993.10 |
30400 |
1:1 |
30400 |
(593.10) |
41600 |
1 |
3.70 |
41600 |
3.74 |
38372.41 |
38372.41 |
38400 |
1:1 |
38400 |
27.59 |
177600 |
2 |
7.41 |
355200 |
31.90 |
327641.38 |
163820.69 |
163200 |
1:1 |
326400 |
(1241.38) |
|
|
|
|
|
|
|
1600 |
1:2 |
1600 |
1600 |
444800 |
1 |
3.70 |
444800 |
39.94 |
410289.66 |
410289.66 |
409600 |
1:1 |
409600 |
(689.66) |
Total |
27 |
100 |
1116300 |
100 |
1027200 |
|
|
|
1027200 |
|
The Board of Directors of the Company at its meeting
held on 19th October, 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 allotment
advice cum refund intimation will be dispatched to the address of the Applicants as
registered with the depositories. Further, the instructions to Self Certified Syndicate
Banks being processed on or before 22 October 2018. 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 Emerge Platform of
National Stock Exchange of India Limited within Six working days from the date of the
closure of the Issue. The Trading is proposed to be commenced on or before 23rd October,
2018 subject to receipt of listing and trading approvals from NSE.