| Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUSANNOUNCEMENT)
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S. V. J. ENTERPRISES LIMITED |
| (CIN: U15400MH2009PLC196514) |
Our Company was originally incorporated on October 16, 2009 as a private limited company as "S. V. J. Enterprises Private Limited" under the provisions of the Companies Act, 1956 with the Registrar of Companies, Mumbai. Subsequently, pursuant to a special resolution of our Shareholders passed in the Extra Ordinary General Meeting held on June 01, 2022 our Company was converted from a private limited company to public limited company and consequently, the name of our Company was changed to ‘S. V. J. Enterprises Limited' and a fresh certificate of incorporation consequent to conversion was issued on July 01, 2022 by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U15400MH2009PLC196514. For further Details of Incorporation and Change in Registered Office of our Company, please refer to section titled ‘Our History and Certain Other Corporate Matters’ beginning on page 99 of this Prospectus.
| Registered office: 002, A-Wing, Sonam Palace CHS, Old Golden Nest Phase 1, New Golden Nest Road, Bhayander East Thane 401105, Maharashtra, India; |
| Tel. No.: +91 9669057304 | Email: info@svjenterprises.co.in | Website: www.svjenterprises.co.in ; |
| Contact Person: Ms. Saanvi Kargutkar, Managing Director |
| OUR PROMOTERS: MR. SURESH JHA AND MS. VEENA JHA |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF 17,01,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH ("EQUITY SHARES") OF S.V.J. ENTERPRISES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 36 PER EQUITY (THE "ISSUE PRICE") AGGREGATING TO RS. 612.36 LAKHS ("THE ISSUE") OF WHICH 87,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH FOR CASH AT A PRICE OF RS. 36 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 26 PER EQUITY SHARE AGGREGATING TO RS. 31.32 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. NET ISSUE OF 16,14,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH AT A PRICE OF RS. 36 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 26 PER EQUITY SHARE AGGREGATING TO RS. 581.04 LAKHS (THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.53% AND 28.97% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
As per Regulation 253(2) of the SEBI (ICDR) Regulations, as amended, as present issue is a fixed price issue 'the Allocation' is the net issue to the public category shall be made as follows:
| a. | Minimum fifty percent (50%) To Retail Individual Investors; and |
| b. | Remaining to: |
| (i) Other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for; | |
| c. | The unsubscribed portion in either of the categories specified in (a) or (b) above may be allocated to the applicants in the other category. |
If the retail individual investor category is entitled to more than fifty per cent on proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH AND |
THE ISSUE PRICE OF RS. 36.00 IS 3.6 TIMES OF THE FACE VALUE |
| ISSUE | ISSUE OPENED ON: THURSDAY, FEBRUARY 23, 2023 |
| ISSUE CLOSED ON: TUESDAY, FEBRUARY 28, 2023 |
The Equity Shares of the Company are proposed to be listed on the SME Platform of BSE Limited ("BSE") in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received the In-Principal approval letter dated January 06, 2023 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE. For the purpose of the Issue, the Designated Stock Exchange will be BSE. The trading is proposed to be commenced on March 09, 2023, Thursday (Subject to the receipt of listing and trading approval from the BSE).
| SUBSCRIPTION DETAILS |
As per the Bid book received from BSE, the Issue has received 1629 applications for 65,40,000 Equity Shares resulting in 3.84 times subscription before technical rejections and applications not banked (including reserved portion of Market Maker). The Issue has received 245 applications for 16,74,000 Equity Shares resulting in 0.98 times subscription after technical rejections, applications not banked and banked not bidded. Accordingly, the issue was under subscribed. Since this Issue was fully underwritten, hence Underwriter to the Issue (First Overseas Capital Limited) has subscribed the shortfall of 27,000 Shares and accordingly Issue was subscribed to 1.00 time. The details of the applications received in the Issue (before technical rejections and after returns due to amount not blocked and banked not bidded) are as follows
Detail of the Applications Received (Before Technical Rejection):
| Category | Number of Application(s) | % to Total | Number of Equity Shares | % to Total | Subscription(Times) | Shares as per Prospectus |
| Market Maker | 1 | 0.38 | 87,000 | 3.58 | 1 | 87,000 |
| Other than Retail Individual Investors | 26 | 9.81 | 16,08,000 | 66.09 | 1.99 | 8,07,000 |
| Retail Individual Investors | 237 | 89.43 | 7,11,000 | 29.22 | 0.88 | 8,07,000 |
| Underwriter/ Lead Manager Devolvement | 1 | 0.38 | 27,000 | 1.11 | 1 | - |
| Total | 265 | 100.00 | 24,33,000 | 100.00 | 1.430 | 17,01,000 |
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
| Category | No. of Applications | No. of Equity Shares |
| Market Maker | - | - |
| Retail Individual Investors | 13 | 39,000 |
| Other than Retail Individual Investors | 6 | 6,93,000 |
| Total | 19 | 7,32,000 |
After eliminating technically rejected applications, the following tables give us category wise net valid applications and allotment:
| No. of Shares Applied for | No. of Valid Applications | % to Total | No. of Valid Shares applied | Issue Size (as per Prospectus) | No. of Application Allotted | No. of Shares Allotted | % of Total Allotted | Subscription (Times) in relation to Valid Bids | Revised Subscription (Times) in relation to Shares Allotted |
| Other than Retail Individual Investor's | 26 | 8.13 | 9,15,000 | 8,07,000 | 20 | 9,15,000 | 53.79 | 1.13 | 1.00 |
| Retail Individual Investor's | 237 | 91.06 | 6,72,000 | 8,07,000 | 224 | 6,72,000 | 39.51 | 0.83 | 1.00 |
| Market Maker | 1 | 0.41 | 87,000 | 87,000 | 1 | 87,000 | 5.11 | 1.00 | 1.00 |
| Underwriter/ Lead Manager Devolvement | 1 | 0.41 | 27,000 | - | 1 | 27,000 | 1.59 | - | 1.00 |
| Total | 265 | 100.00 | 17,01,000 | 17,01,000 | 246 | 17,01,000 | 100.00 | 1.00 | 1.00 |
Since the issue is fully underwritten the shortfall of 27,000 equity shares aggregating to RS. 9,72,000 in terms of the Underwriting agreement dated January 03, 2023, hence Underwriter to the Issue (First Overseas Capital Limited) has subscribed the shortfall of 27,000 Shares and accordingly Issue was subscribed to 1.00 time.
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on Friday; March 03, 2023
| A. | Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of RS. 36.00 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 87,000 Equity shares. |
| B. | Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of RS. 36.00 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.83 times i.e., for 807,000 Equity Shares. Total number of shares allotted in this category is 6,72,000 Equity Shares to 224 successful applicants. |
The category wise details of the Basis of Allotment are as under:
| No. of Shares applied for (Category Wise) | No. of Applica- tions Received | %to Total | Total No. of Equity Shares applied in this Category | % to Total | Propor- tionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottee's To Applicant: Ratio 1 | Ratio of Allottee's to Applicant: Ratio 2 | Number of Successful applicants (after rounding off) | Total No. of Equity Shares allocated/ allotted | No. of Shares Surplus/ Deficit |
| 3,000 | 224 | 100.00 | 6,72,000 | 100.00 | 8,07,000 | 3000 | 3000 | 1 | 1 | 224 | 6,72,000 | -1,35,000 |
C. |
Allocation to Other than Retail Individual Investors (Alter Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of RS. 36 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.97 times i.e., for 9,15,000 shares. The total number of shares allotted in this category is 9,42,000 Equity Shares to 20 successful applicants. |
The category wise details of the Basis of Allotment are as under:
| No. of Shares applied for (Category Wise) | No. of Applications Received | % to Total | Total No. of Equity Shares applied in this Category | % to Total | Propor tionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottee’s To Applicant: Ratio 1 | Ratio of Allottee's to Applicant: Ratio 2 | Number of Successful applicants (after rounding oil) | Total No. of Equity Shares allocated,/ allotted | No. of Shares Surplus/ Deficit |
| 6,000 | 6 | 30.00 | 36,000 | 3.93 | 37,062 | 6177 | 6,000 | 1 | 1 | 6 | 36,000 | 1,062 |
| 12,000 | 1 | 5.00 | 12,000 | 1.31 | 12354 | 12354 | 12,000 | 1 | 1 | 1 | 12,000 | 354 |
| 36,000 | 2 | 10.00 | 72,000 | 7.87 | 74,125 | 37062.5 | 36,000 | 1 | 1 | 2 | 72,000 | 2,125 |
| 42,000 | 4 | 20.00 | 1,68,000 | 18.36 | 1,72,957 | 43239.25 | 42,000 | 1 | 1 | 4 | 1,68,000 | 4,957 |
| 75,000 | 4 | 20.00 | 3,00,000 | 32.79 | 308852 | 77213 | 75.000 | 1 | 1 | 4 | 3,00,000 | 8,852 |
| 90,000 | 1 | 5.00 | 90,000 | 9.84 | 92,656 | 92656 | 90,000 | 1 | 1 | 1 | 90,000 | 2,656 |
| 1,02,000 | 1 | 5.00 | 1,02,000 | 11.15 | 1,05,010 | 105010 | 1,02,000 | 1 | 1 | 1 | 1,02,000 | 3,010 |
| 1,35,000 | 1 | 5.00 | 1,35,000 | 14.75 | 1,38,984 | 138984 | 1,35,000 | 1 | 1 | 1 | 1,35,000 | 3,984 |
| Grand Total | 20 | 100 | 9,15,000 | 100 | 9,42,000 | 9,15,000 | 27,000 |
D. |
Allocation to Underwriters (Alter Technical Rejections): The subscription for the shortfall of 27,000 Equity Shares has been subscribed by Underwriter at the issue price of RS. 36/- per Equity Shares. The under subscribed 27,000 shares have been allotted to Underwriter category. The Basis of Allotment for Underwriter Category at the issue price of RS. 36/- per Equity Share, was finalized in consultation with BSE. The total number of shares allotted in this category is 27,000 Equity Shares to one Applicant |
The Board of Directors of the Company at its meeting held on March 03, 2023 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The Refund /allotment intimation will be dispatched to the address of the Applicants as registered with the depositories on or before March 06, 2023. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or before March 06, 2023. 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 line, investors may contact at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE Limited 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 February 10, 2023 ("Prospectus").
| INVESTORS, PLEASE NOTE |
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.bigshare.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:
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BIGSHARE SERVICES PRIVATE LIMITED |
| S6-2, 6th floor Pinnacle Business Park. Next to Ahura Centre. Mahakali Caves Road, | |
| Andheri (East) Mumbai - 400 093, Maharashtra. India. | Telephone: 022 - 6263 8200; | |
| E-mail: ipo@bigshareonline.com | Website: www.bigshare.com | |
| Investor grievance E-mail: investor@bigshareonline.com | |
| Contact Person: Babu Rapheal C. | |
| SEBI Registration No.: INR000001385 |
| FOR S. V. J. Enterprises Limited On Behalf of the Board of Directors | |
| Sd/- | |
| Place: Mumbai | Saanvi Chanorahas Kargutkar |
| Date: March 06, 2023 | Managing Director |
The Level of Subscription should not be taken to be indicative of either the market price of the Equity Share on Listing or the business prospects of S. V. J. Enterprises Limited.
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 1933.
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