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 PUBLICATION OR DISTRIBUTION. DIRECTLY OR INDIRECTLY OUTSIDE INDIA
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TEJAS CARGO INDIA LIMITED |
Corporate Identification Number U60230HR2021PIC094052 | |
Our Company was incorporated as a private limited company as Tejas Cargo India Private Limited', under the Companies Act 2013. pursuant to a certificate of incorporation dated March 26, 2021 issued by the 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 its meeting held on June 21, 2024. and by the Shareholders in an extraordinary general meeting held on June 22, 2024 and consequently the name of our Company was changed to Tejas Cargo India Limited and a fresh certificate of incorporation dated September 05, 2024 was issued by the Registrar of Companies. Central Processing Centre For further details of change in Registered Office of our Company, see 'History and Certain Corporate Matters 'on page 164 of the Prospectus. | |
Registered and Corporate Office: 3rd Floor, Tower B. Vatika Mindscape 12/3 Mathura Road, Sector 27D, NH 2, Faridabad. Haryana. India. 121003 | |
Contact Person: Ms. Neelam. Tel: +91 129 4144812. E mail: complianc8.officer@tcipl.in: Website: www.tapl.in. |
OUR PROMOTERS: CHANDER BINDAL AND MANISH BINDAL |
The Issue Is being 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 NSE Emerge (SME platform of NSE Ltd.)
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF UPTO 63,00.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF TEJAS CARGO INDIA LIMITED ("OUR COMPANY" OR "THE ISSUER") AT AN ISSUE PRICE OF RS 168 PER EQUITY SHARE (INCLUDING SHARE PREMIUM OFT 158 PER EQUITY SHARE) FOR CASH, AGGREGATING UPTO T 10,584 LAKHS ("THE ISSUE") OUT OF WHICH 63,200 EQUITY SHARES OF FACE VALUE OF RS 10 EACH. AT AN ISSUE PRICE OF T168 PER EQUITY SHARE FOR CASH, AGGREGATING RS 106.18 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY EUGIBLE EMPLOYEES OF THE COMPANY (THE "EMPLOYEES RESERVATION PORTION") AND 3,15.200 EQUITY SHARES OF FACE VALUE OF RS 10 EACH. AT AN ISSUE PRICE OF RS 168 PER EQUITY SHARE FOR CASH. AGGREGATING RS 529.54 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS EMPLOYEE RESERVATION PORTION AND MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 59,21.600 EQUITY SHARES OF FACE VALUE OF RS 10 EACH, AT AN ISSUE PRICE OF RS 168 PER EQUITY SHARE FOR CASH, AGGREGATING UPTO RS 9.948 29 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND NET ISSUE WILL CONSTITUTE 26.37 % AND 25.18 % RESPECTIVELY OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
PRICE BAND: RS 160/- TO RS 168/- PER EQUITY SHARE OF FACE VALUE RS 10/- EACH. |
ISSUE PRICE: RS 168.00 PER EQUITY SHARE OF FACE VALUE RS 10/- EACH. ANCHOR INVESTOR ISSUE PRICE: RS 168.00 PER EQUITY SHARE. | THE ISSUE PRICE IS 16.80 TIMES OF THE FACE VALUE |
Risks to Investors: |
• The Merchant Banker associated with the Issue has handled Nil public Issue out of which Nil Issue closed below Issue price on listing date, below are the details;
Particulars | Numbers of Issues/lssue Handled | Issues closed below Issue price on listing date |
Main Board | Nil | Nil |
SME | Nil | Nil |
• The Issue Price at the upper end of the Price Band is Rs. 168/- per Equity Share. The average cost of acquisition of Equity Shares by our Promoters is:
• The average cost of acquisition of Equity Shares by our Promoters is:
Name of the Promoters | No. of Shares held | Average Cost of Acquisition per Share (In Rs.) |
Mr. ChanderBmdal | 87,96,134 | 0.12 |
Mr.ManishBindal | 87,96,206 | 33.09 |
• Weighted Average Return on Net worth for the 6-month period ended on September 30,2024 is 13.85% which is not annualized and weighted average return on Networth for Fiscals 2024, 2023 and 2022 is 55.02%
BID/ISSUE PERIOD |
ANCHOR INVESTOR BIDDING DATE WAS: THURSDAY, FEBRUARY13, 2025 BID/ISSUE OPENED ON: FEBRUARY 14, 2025 (FRIDAY) BID/ISSUE CLOSED ON: FEBRUARY 18, 2025 (TUESDAY) |
The Issue was made through the Book Building Process. in terms of Rule 19(2)(b)(i) of the Secunties Contracts (Regulation) Rules. 1957. as amended ("SCRR") read with Regulation 253 of the SEBIICDR Regulations, as amended, wherein not more than 50% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs" the "QIB Portion"), provided that our Company in consultation with the Book Running Lead Manager allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis m accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price In the event of under-subscription. or non-allocation in the Anchor Investor Portion, the balance Equity Shares were required to be added to the Net QIB Portion. Further. 5% of the Net QIB Portion was made available for avocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIBs. including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, of the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion could have been added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Net Issue was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatory utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism. if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be. to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Issue through the ASBA process For details, see Issue Procedure"on page 267 of the Prospectus.
The Company received 08 Anchor Investor Application Forms from 08 Anchor Investors (including Nil mutual funds through Nil Mutual Fund schemes) for 21,60,800 Equity Shares. Such 08 Anchor Investors through 08 Anchor Investor Application Forms were allocated 17,75,200 Equity Shares at a price of Rs.168/- per Equity Share under the Anchor Investor Portion, aggregating to Rs 29,82,33.600.00.
The issuer was subscribed to the extent of 1.16 times (including the Anchor Investor Portion) as per the bid books of NSE (the ‘Bid Fites') after removing multiple and duplicate bids & Bid not bank cases. The Details of the Applications received from various categories (before technical rejection) are as under.
Detail of the Applications Received:
CATEGORY | NUMBER OF APPLICATIONS | NO OF SHARES | RESERVED | NO OF TIMES SUBSCRIPTIONS | AMOUNT |
ANCHOR | 8 | 21,60,800 | 17,75,200 | 1.22 | 36,30,14,400 |
EMPLOYEE | 20 | 46,400 | 63.200 | 0.73 | 77,95,200 |
MARKET MAKER | 1 | 3,15,200 | 3,15,200 | 1.00 | 5,29,53,600 |
QIB | 2 | 15,78,400 | 11,84,800 | 1.33 | 26,51,71,200 |
HNI | 47 | 9,52,800 | 8,88,800 | 1.07 | 16,00,44 800 |
RETAIL | 2,853 | 22,82,400 | 20,72,800 | 1.10 | 38,33,16,800 |
TOTAL | 2,931 | 73,36,000 | 63,00,000 | 1.16 | 1,23,22,96,000 |
Final Demand
A summary of the final demand as per NSE as on the Bid/lssue Closing Date at different Bid Prices is as under:
S.No. | Bid Price | Bids Quantity | % to TOTAL | Cumulative Total | % Cumulative Total |
1 | 160.00 | 39 | 33600 | 8477600 | 0.3963 |
2 | 161.00 | 1 | 800 | 8444000 | 00094 |
3 | 162.00 | 2 | 1600 | 8443200 | 0.0189 |
4 | 163.00 | 2 | 1600 | 8441600 | 00189 |
5 | 164.00 | 3 | 2400 | 8440000 | 0.0283 |
6 | 165.00 | 8 | 6400 | 8437600 | 0.0755 |
7 | 166.00 | 2 | 1600 | 8431200 | 0.0189 |
8 | 167.00 | 4 | 3200 | 8429600 | 00377 |
9 | 168.00 | 3149 | 5413600 | 8426400 | 63 8577 |
10 | CUTOFF | 3758 | 3012800 | 8426400 | 35.5384 |
TOTAL | 6968 | 8477600 | 100.0000 |
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - NSE on February 20, 2025.
1) Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off Price or at or above the Issue Price of Rs 168.00 per equity shares, was finalized in consultation with NSE The category was subscribed by 1 08 times i.e. for 22,47,200 Equity Shares. Total number of shares allotted in this category is 20,72,800 Equity Shares to 2599 successful applicants (This includes a spill over of 6,400 equity shares from Employees category). The category wise details of the Basis of Allotment are as under:
No. of Shares Applied for (Category wise) | No. Of Applications rocoived | % to total | Total No. of Equity Shares applied in this Catogory | % of total | No. of Equity Shares allocated/ allotted per Applicant | Ratio | Total Number of shares allotted |
800 | 2809 | 100 00 | 2247200 | 100.00 | 800 | 99:107 | 2079200 |
TOTAL | 2809 | 100.00 | 2247200 | 100.00 | 2079200 |
2) Allocation to Non-institutional Investors (After Technical Rejections): The Basis of Allotment to the Non-lnstitutional Individual Investors, who have bid at cut-off Price or at or above the Issue Price of 168.00 per equity shares, was finalized in consultation with NSE. The category was subscribed by 1.07 times i.e. for 9.48.000 Equity Shares. Total number of shares allotted in this category is 8,91.200 Equity Shares to 44 successful applicants (This includes a spilt over of 2.400 equity shares from Employees category). The category wise details of the Basis of Allotment are as under:
SRNO | No. of Shares applied for (Category wise) | No. of Applications Received | % of Total | Total No. of Equity Shares Applied | % to Total | No. of Equity Shares Allotted per Bidder | Ratio | Total No. of Equrty Shares Allotted |
1 | 1600 | 25 | 56 82 | 40000 | 422 | 800 | 1:1 | 20000 |
1600 | 0.00 | 0.00 | 800 | 22:25 | 17600 | |||
2 | 2400 | 7 | 1591 | 16800 | 1.77 | 1600 | 1:1 | 11200 |
2400 | 0.00 | 0.00 | 800 | 6:7 | 4800 | |||
3 | 3200 | 4 | 9.09 | 12800 | 1.35 | 2400 | 1:1 | 9600 |
3200 | 0.00 | 0.00 | 800 | 3:4 | 2400 | |||
4 | 5600 | 1 | 2.27 | 5600 | 0.59 | 5600 | 1:1 | 5600 |
5 | 6400 | 3 | 6.82 | 19200 | 2.03 | 5600 | 1:1 | 16800 |
6400 | 0.00 | 0.00 | 800 | 1:3 | 800 | |||
6 | 8000 | 1 | 2.27 | 8000 | 084 | 7200 | 1:1 | 7200 |
7 | 12000 | 1 | 2.27 | 12000 | 1.27 | 11200 | 1:1 | 11200 |
8 | 416800 | 2 | 4.55 | 833600 | 87.93 | 392000 | 1:1 | 784000 |
TOTAL | 44 | 100.00 | 948000 | 100.00 | 891200 |
3) Allocation to Employees (After Technical Rejections): The Basis of Allotment to the Employees. who have bid at cut-off Price or at or above the Issue Price of Rs 168.00 per equity shares, was finalized in consultation with NSE. The category was subscribed by 0.74 times i.e. for 46.400 Equity Shares. Total number of shares allotted in this category is 46.400 Equity Shares to 20 successful applicants. The category wise details of the Basis of Allotment are as under:
a) ALLOCATION TO EMPLOYEE (UP TO RS 200000/-)
Category | No. of Applications Kccciveu | % of Total | Total No. of Equity Shares Applied | % to Total | No. of Equity Shares Allotted per Bidder | Ratio | Total No. of Equity Shares Allotted |
800 | 1 | 5.00 | 800 | 1.72 | 800 | 1:1 | 800 |
TOTAL | 1 | 5.00 | 800 | 1.72 | 800 |
b) ALLOCATION TO EMPLOYEE (RS 200000/- TO 500000/-)
Category | No. of Applications Received | % of Total | Total No. of Equity Shares Applied | % to Total | No. of Equity Shares Allottod por Bidder | Ratio | Total No. of Equity Shares Allotted |
2400 | 19 | 95.00 | 45,600 | 98.28 | 2400 | 1:1 | 45,600 |
TOTAL | 19 | 95.00 | 45,600 | 98.28 | 45,600 |
4) Allocation to QIBs excluding Anchor Investors (After Technical Rejections): The Basis of Allotment to QIBs, who have bid at Issue Price of Rs 168.00 per equity shares or above was finalized in consultation with NSE. The category was subscribed by 1.33 tomes i.e for 15.78.400 shares The total number of shares allotted in this category is 11.92,800 Equity Shares to 2 successful applicants (This includes a spill over of 8,000 equity shares from Employees category). The category wise details of the Basis of Allotment are as under
Category | FISBANKS | MTS | IC'S | NBFC'S | AIF | FPC | vc's | TOTAL |
QIB | . | - | - | . | - | 11,92.800 | - | 11,92,800 |
5) Allocation to Anchor Investors (After Technical Rejections & Withdrawal): The Company in consultation with the BRLM has allotted 17,75.200 Equity Shares to 8 Anchor Investors at Anchor Investor Issue Price of Rs 168 per equity shares in accordance with the SEBIICDR Regulations. The category wise details of the Basis of Allotment are as under:
CATEGORY | FIS/BANKS | MF'S | ICS | NBFC'S | AIF | FPC | VC's | TOTAL |
ANCHOR | - | - | - | 60.000 | 60.000 | 16,55,200 | - | 17,75,200 |
6) Allocation to Market Maker (After Technical Rejections):The Basis of Allotment to Market Maker, who have bid at Issue Price of 68.00 per equity shares or above, was finalized in consultation with NSE The category was subscribed by 1 00 times i.e. for 3,15,200 shares the total number of shares allotted m this category is 3.15.200 Equity Shares. 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 | % of total | No. of Equity Shares allocated/ allotted per Applicant | Ratio | Total Number of shares allotted |
3.15.200 | 1 | 100.00 | 3,15,200 | 100.00 | 3,15,200 | 1:1 | 3,15,200 |
TOTAL | 1 | 100.00 | 3,15,200 | 100.00 | 3,15,200 | 3,15,200 |
The Board of Directors of the Company at its meeting held on February 20.2025 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for issue of the Equity Shares to various successful applicants The CAN-cum-allotment advices and/or notices will forward to the email id's and address of the Applicants as registered with the depositories I as filled in the application form on or before February 21.2025 Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will process on or prior to February 21.2025. In case the same is not received within ten days, investors may contact at the address given below. The Equity Shares a 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 three working days from the date of the closure of the issue.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them m the Prospectus dated February 20.2025 ("Prospectus') filed with Registrar of Companies. NCT, Delhi & Haryana.
CORRIGENDUM NOTICE TO THE INVESTORS |
This corrigendum ("Corrigendum") is with reference to Prospectus dated February 20.2025 filed in relation to the Issue. In this regard. please note the following under the chapter Capital Structure:
(1) In the Details of Promoter's Contribution locked in for three years at page 82, the heading of the table'% of fully diluted post- Issue paid-up capital' shall be read as % of fully diluted pre- Issue paid-up capital "and the heading 'Period of lock-m ' shall be read as"% of fully diluted post- Issue paid-up capital' Additionally, the period of lock in for the Minimum Promoters Contribution of the Promoters for 47,78.568 Equity Shares is 3 years
(2) In the Shareholding pattern of our Company at page 85, the column in relation to the Number of Locked in shares (XII) (No. (a)) for the Promoters and the Promoter Group and the Total shall be read as 1.75,92,840 and Number of Locked in shares (XII) (As a % of total shares held (b)) and the Total shall be read as 100.
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 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 Bid cum 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 |
Address: No 6-2.6th Floor. Pinnacle Business Park, Mahakali Caves Road. Next to Ahura Centre. Andhen East Mumbai - 400093, Maharashtra. India; Tel. No.: +91 -22-62638200; Email: ipo@bigshareonlme.com | |
Investor Grievance Email: investor@bigshareonline.com Website: https// www.bigshareonline.com Contact Person: VSnayak Morbale SEBI Registration No.: INR000001385; CIN: U99999MH1994PTC076534 |
For Tejas Cargo India Limited | |
Sd /- | |
Chander Bindal | |
Date : February 21.2025 | Chairman & Managing Director |
Place : Faridabad. Haryana | DIN:-03221817 |
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 TEJAS CARGO INDIA LIMITED.
Tejas Cargo India Limited has filed a Prospectus dated February 20.2025 with the RoC NCT, Delhi 4 Haryana. The Red Herring Prospectus shall be made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e.. New Berry Capitals Private Limited at www new berry in the website of the NSE at www.nseindia.com, Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" on page 30 of the Red Herring Prospectus The Equity Shares issued in the Issue 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 may not be offered or sold within the United States or to or for the account or benefit of U.S. persons" (as defined in Regulations of the Securities Act) except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act. Accordingly, the Equity Shares will be offered and sold (i) within the United States only to persons reasonably believed to be 'Qualified Institutional Buyers" (as defined in Rule 144A of the Securities Act) under Section 4(a) of the Securities Act and (u) outside the United States in offshore transaction in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offer and sales occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Application may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
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