Basis of Allotment |
This is a public announcement for information purposes only and is not a prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe to securities. This public announcement is not intended for release, publication or distribution directly or indirectly outside india.
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SWASTH FOODTECH INDIA LIMITED |
Corporate Identity Number (CIN): U15490WB2021PLC242881 |
THE COMMENCEMENT OF TRADING OF THE EQUITY SHARES OF OUR COMPANY ON THE SME PLATFORM OF BSE LIMITED ("BSE-SME") SHALL BE WITH EFFECT FROM ON FRIDAY, FEBRUARY 28, 2025 |
Swasth Foodtech India Limited (the "Company") was originally incorporated under the name Swasth Foodtech India Private Limited', pursuant to a certificate of incorporation dated February 2,2021 issued by the Deputy Registrar of Companies, Registrar of Companies, Central Registration Centre. Further, our Company was converted into a public limited company pursuant to a resolution passed by our Board of Directors in their meeting held on January 27,2024 and by the Shareholders in an Extraordinary General Meeting held on February 21,2024 and a fresh certificate of incorporation dated May 20.2024 was issued Py the Registrar of Companies, Central Registration Centre. Consequent to the conversion of our Company, the name of our Company was changed to Swasth Foodtech India Limited'. For further details in relation to the change in the name and registered office of our Company, see "History and Certain Corporate Matters" beginning on page 139 of the Prospectus.
Registered Office: Baro Chowmata Belari, Guskara, Purba Burdwan, Bardhaman - 713 141, West Bengal, India, Telephone: +91 890 073 8769 E-mail: info@swasthfoodtech.com Website: www.swasthfoodtech.com |
Contact Person: Seema Agarwal, Company Secretary and Compliance Officer |
PROMOTERS OF OUR COMPANY: DILIP CHHAJER, SHREY JAIN. LAKSHAY JAIN, VANDANA CHHAJER, CHHAJER AGRO PRODUCTS PRIVATE LIMITED AND DILIP CHAND CHHAJER (HUF) |
Type | Fresh Offer Size | OFS Size | Total Offer Size |
Fresh Offer | 15,87,600 Equity Shares of Rs 94/- aggregating up to Rs 1,492.34 Lakhs | Nil | 15,87,600 Equity Shares of Rs 94/- aggregating up to Rs 1,492.34 Lakhs |
ISSUE WAS MADE IN ACCORDANCE WITH CHAPTER IX OF THE SEBIICDR REGULATIONS (IPO OF SMALL AND MEDIUM ENTERPRISES) AND THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE LIMITED (BSE SME/BSE).
Our company has filed Prospectus dated February 12,2025 with Registrar of Companies, West Bengal at Kolkata. The Equity shares are proposed to be listed on SME Platform of BSE Limited (BSE /SME BSE) and trading will commence on Friday, February 28, 2025.
BASIS OF ALLOTMENT |
PUBLIC ISSUE OF 15,87,600 EQUITY SHARES OF FACE VALUE RS 10 EACH ("EQUITY SHARES") OF THE COMPANY FOR CASH AT A PRICE OF RS 94/- PER EQUITY SHARE (INCLUDING A SECURITIES PREMIUM OF RS 84/- PER EQUITY SHARE) (THE "ISSUE PRICE"), AGGREGATING UPTO RS 1,492.34 LACS ("ISSUE") OF THE ISSUE, 80,400 EQUITY SHARES AGGREGATING TO RS 75.58 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 15,07,200 EQUITY SHARES OF FACE VALUE OF RS 10 EACH AT AN ISSUE PRICE OF RS 94/- PER EQUITY SHARE AGGREGATING TO RS 1,416.77 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.10% AND 25.73%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
RISKS TO INVESTORS |
We depend on a few customers for our products, for a significant portion of our revenue, and any decrease in revenues or sales from any one of our key customers may adversely affect our business and results of operations.
We generate our major portion of sales from our operations in certain geographical regions. Any adverse developments affecting our operations in these regions could have an adverse impact on our revenue and results of operations.
We have a limited operating history in respect of our products, which may make it difficult for investors to evaluate our business and prospects.
Our business is dependent on the sale of our products to certain oil manufacturers with whom our Company has not entered into any long-term agreements purchasing our Rice Bran Oil. The loss of such customers, a significant reduction in purchases by such customers, or a lack of commercial success of their product of which we are a major supplier could materially adversely affect our business, results of operations and financial condition.
We derive significant portion of our revenues from the sale of by-products derived during the processing of rice bran oil and any reduction in demand from its consumers could have an adverse effect on our business, results of operations and financial condition.
Average cost of acquisition of Equity Shares for the Promoters are as under:
NAME | WACA in Rs per equity share |
Dilip Chhajer | 10 |
Shrey Jain | 10 |
Vandana Chhajer | 10 |
Lakshay Jain | 10 |
Chhajer Agro Products Private Limited | 10 |
Dilip Chand Chhajer (HUF) | 10 |
The Issue Price is Rs 94.00 per Equity Share.
The Weighted average cost of acquisition compared to floor price and cap price:
Types of transactions | Weighted average cost of acquisition (Rs per Equity Shares) | Issue price (i.e. Rs 94/-) |
WACA of Primary Issuance (except for bonus issue) (exceeding 5% of the pre issue capital preceding 30 days from the date of Prospectus) | Nil | N.A. |
WACA for secondary sale / acquisition (exceeding 5% of the pre issue capital preceding 30 days the date of Prospectus) | Nil | N.A. |
The Weighted average cost oF acquisition of all Equity Shares transacted in the last one year, 18 months and three years from the date of Prospectus is as given below:
Period | Weighted Average Cost of Acquisition* (in Rs ) | Issue Price (Rs 94.00) is 'X" times the weighted Average cost of Acquisition | Range of acquisition price: Lowest Price - Highest Price (in |
Last 1 year / Last 18 months | 10.00 | 9.4 times | Rs.10/- - Rs 10/- |
Last 3 years | 10.00 | 9.4 times | Rs.10/- - Rs 10/- |
BID/ISSUE PROGRAMMME | BID/ISSUE OPENED ON THURSDAY, FEBRUARY 20, 2025 |
BID/ISSUE CLOSED ON MONDAY, FEBRUARY 24, 2025 |
THE FACE VALUE OF THE EQUITY SHARES IS Rs 10.00/- EACH |
THE ISSUE PRICE IS Rs 94.00 PER EQUITY SHARE. THE ISSUE PRICE IS 9.4 TIMES OF THE FACE VALUE OF THE EQUITY SHARES |
PROPOSED LISTING: The Equity Shares of the Company offered through the Prospectus dated February 12, 2025 are proposed to be listed on the SME Platform of BSE Limited ("BSE-SME") of in terms of the Chapter IX of SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received In-Principle Approval Letter dated January 31,2025, from BSE Limited for listing our shares and also for using its name in the Issue document for listing of our shares on BSE-SME. It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Issue Document has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to the Prospectus for the full text of the "Disclaimer Clause of the SME Platform of BSE Limited" on page 235 of the Prospectus. For the purpose of this issue the Designated Stock Exchange was BSE-SME. The trading is proposed to be commenced on or before February 28,2025 (Subject to receipt of listing and trading approval from BSE Limited).
This Issue was made through the Fixed Price Mechanism, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 (2) of the SEBI ICDR Regulations and in compliance with Regulation 253 of the SEBI ICDR Regulations, wherein not more than 50.00% of the Net Issue was made available for allocation on a proportionate basis to Retail individual investors and 50.00% of the Net Issue was made available for allocation on a proportionate basis to Other than Retail individual investors in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at the Issue Price. All Bidders are required to participate in the Issue by mandatorily utilizing the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account (as defined hereinafter) in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 252 of the Prospectus.
All investors have participated in this issue 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") / Sponsor Bank as the case may be.
SUBSCRIPTION DETAILS |
DETAILS OF THE APPLICATION:
The Issue received 8,371 Applications for 1,14,14,400 Equity Shares (before technical rejections) resulting in 7.19 times subscription (including reserved portion of market maker.
The details of the Applications received in the Issue from various categories are as under: (before technical rejections):
DETAILS OF APPLICATIONS RECEIVED (before technical rejection)
Category | Number of applications | Number of equity shares Bid for | Number of equity shares reserved as per Prospectus | Number of times subscribed |
Other than Retail Individual Investors | 537 | 19,32,000 | 7,53,600 | 2.56 |
Retail Individual Investors | 7,833 | 94,02,000 | 7,53,600 | 12.48 |
Market Maker | 1 | 80,400 | 80,400 | 1.00 |
TOTAL | 8,371 | 1,14,14,400 | 15,87,600 | 7.19 |
DETAILS OF VALID APPLICATIONS:
Sr. No | Category | Gross | Less: Valid Rejections | Valid | Allotment | ||||
No. of Applications | Equity Shares | No. of Applications | Equity Shares | No. of Applications | Equity Shares | Allottees | Equity Shares | ||
1 | Reserved for Market Maker | 1 | 80,400 | - | - | 1 | 80,400 | 1 | 80,400 |
2 | Retail Individual Investors | 7,833 | 94,02,000 | 125 | 1,52,400 | 7,708 | 92,49,600 | 1,042 | 12,50,400 |
3 | Other than Retail Individual Investors | 53 7 | 19,32,000 | 10 | 26,400 | 527 | 19,05,600 | 188 | 2,56,800 |
Total | 8,371 | 1,14,14,400 | 135 | 1,78,800 | 8,236 | 1,12,35,600 | 1,231 | 15,87,600 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange i.e. BSE Limited on February 25, 2025.
Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 94/- per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 80,400 Equity shares in full out of reserved portion of 80,400 Equity Shares.
Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 94/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 12.27 times. The total number of shares allotted in this category is 12,50,400 Equity shares based on the Proportionate shares available as per the Fixed Price Mechanism.
No. of Shares Applied for (Category wise) | No. of Applications Received | %of Total | Total No. of Shares Applied | % to Total | No. of Equity Shares Allotted per Applicant | Number of successful applicants (after rounding) | Ratio | Total No. of Shares Allotted | Surplus/ Deficit |
Retail Individual Investors | 7708 | 100 | 9249600 | 100 | 1200 | 1042 | 73:540 | 1250400 | - |
Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Other than Retail Individual Investors, at the issue price of t 94/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.53 times. The total number of shares allotted in this category is 2.56,800 Equity shares based on the Proportionate shares available as per the Fixed Price Mechanism.
No. of Shares applied for (Category wise) | Number of applications received | %of Total | Total No. of Shares applied in each category | %to Total | Ratio of allottees to applicants | Total No. of shares allocated/ allotted | %to total | Surplus/ Deficit |
2.400 | 395 | 74.9526 | 948000 | 49.75 | 106:395 | 127200 | 50.4762 | 553.12 |
3.600 | 40 | 7.5901 | 144000 | 7.56 | 02:05 | 19200 | 7.619 | 205.61 |
4.800 | 52 | 9.8672 | 249600 | 13.10 | 07:13 | 33600 | 13.3333 | 36.18 |
6.000 | 7 | 1.3283 | 42000 | 2.20 | 05:07 | 6000 | 2.381 | -340.13 |
7.200 | 2 | 0.3795 | 14400 | 0.76 | 01:01 | 2400 | 0.9524 | -459.36 |
8.400 | 3 | 0.5693 | 25200 | 1.32 | 01:01 | 3600 | 1.4286 | -204.08 |
9.600 | 6 | 1.1385 | 57600 | 3.02 | 01:01 | 7200 | 2.8571 | 562.29 |
10,800 | 8 | 1.518 | 86400 | 4.53 | 01:01 | 9600 | 3.8095 | -356.69 |
02:08 | 2400 | |||||||
12,000 | 7 | 1.3283 | 84000 | 4.41 | 01:01 | 8400 | 3.3333 | 520.00 |
02:07 | 2400 | |||||||
13,200 | 1 | 0.1898 | 13200 | 0.69 | 01:01 | 2400 | 0.9524 | -621.15 |
14,400 | 1 | 0.1898 | 14400 | 0.76 | 01:01 | 2400 | 0.9524 | -459.36 |
15,600 | 1 | 0.1898 | 15600 | 0.82 | 01:01 | 2400 | 0.9524 | -297.84 |
16,800 | 1 | 0.1898 | 16800 | 0.88 | 01:01 | 2400 | 0.9524 | -136.05 |
37,200 | 2 | 0.3795 | 74400 | 3.90 | 01:01 | 9600 | 3.8095 | 426.24 |
1,20,000 | 1 | 0.1898 | 120000 | 6.30 | 01:01 | 15600 | 6.1905 | 571.21 |
Total | 527 | 100 | 1905600 | 100.00 | 256800 | 100 | - |
The Board of Directors of the Company at its meeting held on February 25,2025, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE Limited and has authorized the online corporate action for the allotment of the Equity Shares in dematerialised 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 February 25. 2025. Further, the instructions to Self-Certified Syndicate Banks being processed on February 25, 2025, for unblocking fund. In case the same is not received within Two (2) 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 shall file the listing application with BSE Limited on or before February 27. 2025. The Company is in process of obtaining the listing & the trading approval from BSE Limited and the trading is expected to commence on or before February 28,2025.
Note: All capitalised terms used and not specifically defined herein shall have the same meaning as Ascribed to them in the Prospectus dated February 12, 2025. DISCLOSURES PERTAINING TO THE LM'S TRACK RECORD ON PAST ISSUES WITH A BREAKUP OF HANDLING OF IPOS FOR THE LAST 3 YEARS:
Horizon Management Private Limited
TYPE | FY 2021-22 | FY 2022-23 | FY 2023-24 | FY 2025 |
SME IPO | 0 | 0 | 4 | 7 |
MAIN BOARD | 0 | 0 | 0 | 0 |
INVESTORS, PLEASE NOTE |
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, MAS SERVICES LIMITED at www.masserv.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:
LEAD MANAGER TO THE OFFER | REGISTRAR TO THE OFFER | COMPANY SECRETARY AND COMPLIANCE OFFICER |
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HORIZON MANAGEMENT PRIVATE LIMITED | MAS SERVICES LIMITED | SWASTH FOODTECH INDIA LIMITED |
19 R N Mukherjee Road, Main Building. | T-34, 2nd Floor, Okhla Industrial Area, | Seema Agarwal |
2nd Floor, Kolkata- 700 001. West Bengal, India. | Phase-ll. New Delhi- 110 020 | Company Secretary and Compliance Officer |
Telephone: +91 33 4600 0607 | Telephone: +91 112 638 7281/83,114 132 0335 | Baro Chowmata Belari, Guskara, Purba Burdwan, |
Facsimile: +91 33 4600 0607 | Facsimile: +91 112 638 7384 | Bardhaman 713 141, West Bengal, India |
E-mail: smeipo@horizon.net.co | E-mail: ipo@masserv.com | Tel: +91 890 073 8769 |
Website: www.horizonmanagement.in | Website: www.masserv.com | Email: cs@swasthfoodtech.com |
Investor grievance: | Investor grievance: investor@masserv.com | Website: www.swasthfoodtech.com |
investor.relations@horizon.net.co | SEBI Registration No.: INR000000049 | Bidders are advised to contact the Company Secretary and Compliance Officer, the LM and/or the Registrar to the Issue in case of any pre-issue or post-issue related problems such as non-receipt of letters of Allotment, credit of Allotted Equity Shares in the respective beneficiary account, nonreceipt of funds by electronic mode etc. |
SEBI Registration Number: INM000012926 | Contact Person: N. C. Pal | |
Contact Person: Manav Goenka |
For SWASTH F00DTECH INDIA LIMITED | |
Sd/- | |
Date: February 27, 2025 |
Dilip Chhajer |
Place: Bardhaman | 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 SWASTH FOODTECH INDIA LIMITED
Disclaimer: Swasth Foodtech India Limited has filed the Prospectus with the RoC, Kolkata, on February 13, 2025, and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of BSE Limited at https://www.bseindia.com and on the websites of the LM's, at www.horizonmanagement.in and Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 21 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the United States.
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