| Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSE ANO NOT A PROSPECTUS ANNOUNCEMENT, NOT FOR PUBLICATION OR DISTRIBUTION, OIRECTLY OR INDIRECTLY OUTSIDE INDIA.)
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| PATRON EXIM LIMITED |
| CORPORATE IDENTIFICATION NUMBER: U24100GJ2022PLC134939 |
Our Company was originally formed and registered as a partnership firm under the Partnership Act, 1932 ("Partnership Act") in the name and style of "M/s Arvind Traders", pursuant to a deed of partnership dated April 01, 1982. Subsequently, the Constitution of the partnership firm was changed pursuant to partnership deed dated April 01, 1992, April 01, 1994 and May 16, 2015. "M/s. Arvind Traders" was thereafter converted from a partnership firm to a private limited company under Part I chapter XXI of the Companies Act, 2013 in the name of "Patron Exim Private Limited" and received a Certificate of Incorporation dated August 24, 2022 bearing Corporate Identification Number U51909GJ2022PTC134939 from the Assistant Registrar of Companies, Central Registration Centre, our Company was converted in to a public limited Company pursuant to a special resolution passed by our shareholders at the EGM held on October 10, 2022 and consequently the name of our Company was changed to "Patron Exim Limited" and a fresh certificate of incorporation was issued by the Registrar of Companies, Ahmedabad, dated December 2, 2022. The CIN of the Company is U24100GJ2022PLC134939.
| Registered office: 411, Safal Perlude, B/h Ashwaraj Bunglows, 100 FT Road, Prahladnagar, Vejalpur, Ahmedabad - 380015, Gujarat, India. |
| | Tel: +91 9979978393; | Email Id: info@patronexim.com Website: www.patronexim.com; | |
| Contact Person: Sonia Kakani, Company Secretary and Compliance Officer |
| OUR PROMOTERS: NARENDRAKUMAR PATEL AND SUSHILABAHEN PATEL |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF 61,80,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH OF PATRON EXIM LIMITED ("PEL" OR THE "COMPANY" OR THE ("ISSUER") FOR CASH AT A PRICE OF Rs. 27/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 17/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 1668.60 LACS ("THE ISSUE"), OF WHICH 3,16,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FOR CASH AT APRICE OF Rs. 27/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 17/- PER EQUITY SHARE AGGREGATING TO Rs. 85.32 LACS WILL BERESERVEO FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION" ). THE ISSUE LESS THEMARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF 58,64,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH AT A PRICE OF Rs. 27/- PER EQUITY SHARE AGGREGATING TO Rs. 1583.28 LACS IS HEREIN AFTER REFERREO TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILLCONSTITUTE 26.66% AND 25.30% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00/- EACH AND THE ISSUE PRICE IS Rs. 27.00/- EACH. |
| THE ISSUE PRICE IS 2.7 TIMES OF THE FACE VALUE OF EQUITY SHARE |
| ISSUE OPENED ON: FEBRUARY 21, 2023 (TUESDAY) |
| ISSUE CLOSED ON: FEBRUARY 24, 2023 (FRIDAY) |
PROPOSED LISTING
The Equity Shares of the Company offered through the Prospectus dated February 15, 2023 are proposed to be listed on the SME Platform of BSE Limited ("BSE SME") in terms of Chapter IX of SEBI {ICDRI} Regulations, 2018. The trading is proposed to be commenced on or before March 06, 2023*.
* Subject to receipt of listing and trading approval from BSE Limited.
Our Company has received an In Principal Approval dated January 25, 2023 from BSE Limited for using its name in the offer document for listing of our shares on SME Platform of BSE Limited. It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the content of the Prospectus or the price at which equity shares are offered has been cleared, solicited or approved by BSE, nor does it certifies the correctness, accuracy or completeness of any of the content of the Prospectus. For the purpose of the Issue BSE Limited 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 shall be allocated 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 unsubscribe 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 offer through Application Supported by Blocked Amount ("ASBA") process including through Unified Payment Interface (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").
| SUBSCRIPTION DETAILS |
DETAILS OF THE APPLICATION:
The Issue has received 2778 applications (before rejections and bids not banked) for 1,39,28,000 Equity Shares (Including Market Maker Application of 3,16,000 Equity Shares) resulting 2.25 times subscription. After considering technical rejections cases and bids not banked the issue was subscribed 0.98 times. Since this Issue was fully underwritten, hence Underwriter to the Issue has subscribed the shortfall of 1,36,000 Shares and accordingly Issue was subscribed to 1.00 time.
DETAILS OF VALID APPLICATIONS RECEIVED (BEFORE TECHNICAL REJECTION AND AFTER BIDS NOT BANKED)
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES | SUBSCRIPTION |
| Market Maker | 1 | 316000 | 1.00 |
| Other than Retail Individual Investor's | 28 | 2524000 | 0.86 |
| Retail Individual Investor's | 834 | 3336000 | 1.14 |
| Underwriter/Lead Manager Devolvement | 1 | 136000 | 1.00 |
| TOTAL | 864 | 6312000 | 1.02 |
*Subscription time have been computed on the basis of the issue size as per the Prospectus.
DETAILS OF BIDS WOT BANKED ARE AS FOLLOWS:
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES |
| Other than Retail Individual Investor's | 15 | 152000 |
| Retail Individual Investor's | 1911 | 7644000 |
| TOTAL | 1926 | 7796000 |
DETAILS Of APPLICATIONS REJECTED BY THE REGISTRAR QH TECHNICAL GROUNDS ARE AS FOLLOWS:
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES |
| Other than Retail Individual Investor's | 0 | 0 |
| Retail Individual Investor's | 33 | 132000 |
| TOTAL | 33 | 132000 |
DETAILS OF VALID APPLICATIONS RECEIVED (AFTER TECHNICAL REJECTION):
| CATEGORY | NUMBER OF APPLICATIONS | NUMBER OF EQUITY SHARES | SUBSCRIPTION |
| Market Maker | 1 | 316000 | 1.00 |
| Other than Retail Individual Investor’s | 28 | 2524000 | 0.86 |
| Retail Individual Investor's | 801 | 3204000 | 1.09 |
| Underwriter Devolvement | 1 | 136000 | 1.00 |
| TOTAL | 831 | 6180000 | 1.00 |
ALLOCATI0N: The Basis of Allotment was finalized consultation with the Designated Stock Exchange BSE Limited on March 01, 2023
| A. | Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 27.00/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 1.00 time, The total number of shares allotted in this category is 3,16,000 Equity shares in full out of reserved portion of 3,16,000 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. 27.00/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 0.96 times. Total number of shares allotted in this category is 3,20,4000 Equity shares. |
| No. of Shares Applied for(Categorywise) | No. of Applicatio ns Received | % to total | Total No. of Equity Shares applied in Retail Individual Investors category | % of total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation par Applicant (After Rounding Off) | Ratio of Allottees to the Applicant s | Total No. of Equity Shares allotted | Surplus/ (Deficit) | |
| 4000 | 801 | 100.00 | 3204000 | 100.00 | 3340000 | 4000 | 4000 | 1 | 1 | 3204000 | 136000 |
| Total | 801 | 100% | 3204000 | 100% | 3340000 | - | - | 3204000 | 136000 | ||
| C. | Allocation to Non-Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Retail individual Investors, at the issue price of Rs. 27.00/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 0.86 times. Total number of shares allotted in this category is 2,52,4000 Shares. |
| No. of Shares applied for (Categorywise) | Number of applicatio ns received | % to total | Total No. of Shares applied in each category | % of total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Ratio of Allottees to the Applicant s | Total No. of shares allocated/ alloted | Surnlus(D eficit) | ||
| Before Rounding off | After Rounding off | ||||||||||
| 8000 | 16 | 57.15 | 128000 | 5.07 | 148691 | 9293.19 | 8000 | 1 | 1 | 128000 | -20691 |
| 12000 | 5 | 17.86 | 60000 | 2.38 | 69699 | 13939.8 | 12000 | 1 | 1 | 60000 | -9699 |
| 16000 | 2 | 7.14 | 32000 | 1.27 | 37172 | 18586.5 | 16000 | 1 | 1 | 32000 | -5172 |
| 20000 | 1 | 3.57 | 20000 | 0.79 | 23233 | 23233 | 20000 | 1 | 1 | 20000 | -3233 |
| 36000 | 1 | 3.57 | 36000 | 1.43 | 41819 | 41819 | 36000 | 1 | 1 | 36000 | -5819 |
| 44000 | 1 | 3.57 | 44000 | 1.74 | 51113 | 51113 | 44000 | 1 | 1 | 44000 | -7113 |
| 60000 | 1 | 3.57 | 60000 | 2.38 | 69699 | 69699 | 60000 | 1 | 1 | 60000 | -9699 |
| 2144000 | 1 | 3.57 | 2144000 | 84.94 | 2490574 | 2490574 | 2144000 | 1 | 1 | 2144000 | -346574 |
| GRAND TOTAL | 28 | 100.00 | 2524000 | 100.00 | 2932000 | 2524000 | -408000 | ||||
| D. | Allocation to Underwriter: The Basis of Allotment to the underwriter, at the issue price of Rs. 27.00/- per Equity Share, was finalized in consultation with BSE (BSE SME), due to Bids not Banked and technical rejections, the Issue was subscribed to the extent of 0.98 times. Since the issue is fully underwritten, the devolved shares have been underwritten as per the terms mentioned in the Underwriting agreement dated January 05, 2023.Total number of shares allotted in this category is 1.36,000 Equity shares. |
| No. of Shares Applied for (Category wise) | No. of Applicatio ns Received | % to total | Total No.of Equity Shares applied in Retail Individual Investors category | % of total | Proportio nate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to the Applicant s | Total No.of Equity Shares allotted | Surplus/ (Deficit) | |
| 136000 | 1 | 100% | 136000 | 100% | 136000 | 136000 | 136000 | 1 | 1 | 136000 | 0 |
| Total | 1 | 100% | 136000 | 100% | 136000 | - | - | - | - | 136000 | 0 |
The Board of Directors of the Company at its meeting held on March 01, 2023has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE SME and has authorized the online corporate action for the allotment of the Equity Shares in dematerialized form to various successful applicants.
The CAN-cum-Refund Orders and 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 March 02, 2023. Further, the instructions to Self Certified Syndicate Banks being processed on or prior to March 02, 2023 for unblocking fund. In case the same is not received within Four (4) working 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 BSE SME within Six (6) working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before March 06, 2023 subject to receipt of listing and trading approvals from the BSE Limited.
| INVESTORS, PLEASE NOTE |
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Big share 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:
REGISTRAR TO THE ISSUE
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BIGSHARE SERVICES PRIVATE LIMITED |
| Address: Offrce No. S6-2. 6th Floor. Pinnacle Business Park. | |
| Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400093 | |
| Tel No: +91 22-62638200 | |
| Fax No: +91 22-62638299 | |
| Website: www.bigshareonline.com | |
| E-Mail: ipo@bigshareonline.com | |
| Investor Grievance Email: investor@twgshareonline.com | |
| Contact Person: Mr. Aniket Chindarkar | |
| SEBI Reg. No.: INR000001385 |
| Date: March 03, 2023 | PATRON EXIM LIMITED |
| Place: Ahmedabad | On behalf of the Board of Directors |
| Sd/- | |
| Narendrakumar Patel (Managing Director) | |
| DIN:07017438 |
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 PATRON EXIM 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 will 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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