THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY ANO IS
NOT A PROSPECTUS ANNOUNCEMENT. THIS OOES 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. |
 |
BEEZAASAN EXPLOTECH LIMITED |
CIN: U24111GJ2013PLC076499 |
Our company was originally formed as Private Limited Company under the
name "Beezaasan Explotech Private Limited" under the provisions of the Companies
Act, 1956 vide Certificate of Incorporation dated August 21, 2013 issued by the Registrar
of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, the status of the Company
was changed to Public Limited and the name of our Company was changed to "Beezaasan
Explotech Limited" vide Special Resolution passed by the Shareholders at the Extra
Ordinary General Meeting of our Company held on May 15,2024. The fresh certificate of
incorporation consequent to conversion was issued on July 30,2024 by the Registrar of
Companies, Central Processing Centre. The Corporate Identification Number of our Company
is U241116J2013PLC076499. For further details on Incorporation and Registered Office of
our Company, see "History and Certain Corporate Matters" beginning on page 221
of the Prospectus.
Registered office: 5th Floor 511
Pramukh Tangent Complex Sargasan Cross Road S.G. Highway Gandhinagar Gujarat 382421 India Corporate
Otfice: Opposite LIC Office Palace Road Himatnagar Dist: Sabarkantha Himatnagar
Gujarat 383001 India. |
Contact Person: Ms. Ankita Choudhury
Company Secretary and Compliance Officer |
THE PROMOTERS OF OUR COMPANY ARE
MR. NAVNEETKUMAR RADHESHYAM SOMANI, MR. SUNILKUMAR RADHESHYAM SOMANI, MR. RAJAN SUNILKUMAR
SOMANI, M/S. NAVNEET R SOMANI HUF AND M/S. SUNIL R. SOMANI HUF |
"THE ISSUE IS BEING MADE IN
ACCORDANCE WITH CHAPTER IX DF THE SEBIICDR REGULATIONS (IPO OF SMALL AND MEDIUM
ENTERPRISES) AND THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE (BSE
SME)." |
INITIAL PUBLIC OFFER OF 34.24,800 EQUITY SHARES OF FACE VALUE OF RS
10/- EACH ( "EQUITY SHARES") OF BEEZAASAN EXPLOTECH LIMITED ("BEEZAASAN
EXPLOTECH", OR "OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE
OF RS 175/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE (THE
"ISSUE PRICE") AGGREGATING TO RS 5,993.40 LAKHS ("THE ISSUE"), OF
WHICH 1,76,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FOR CASH AT A PRICE OF RS 175/-
PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE AGGREGATING TO RS
308.00 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 32,48,800 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH AT A
PRICE OF RS 175/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 165/- PER EQUITY SHARE
AGGREGATING TO RS 5,685.40 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE".
THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.51 % AND 25.14 % RESPECTIVELY OF THE POST
ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
ISSUE PRICE: RS 175/- PER EQUITY
SHARE OF FACE VALUE RS 10/- EACH. ANCHOR INVESTOR |
ISSUE PRICE: RS 175.00 PER
EQUITY SHARE THE ISSUE PRICE |
IS 17.5 TIMES OF THE FACE VALUE |
|
ANCHOR INVESTOR BIDDING DATE
WAS: THURSDAY, FEBRUARY 20, 2025 |
ISSUE PROGRAM |
BID/ISSUE OPENED ON: FRIDAY,
FEBRUARY 21, 2025 |
|
BID/ISSUE CLOSED ON: TUESDAY,
FEBRUARY 25, 2025 |
1. Our Equity Shares have never been publicly traded, and may
experience price and volume fluctuations Mowing the completion of the Issue. Further, our
Equity Shares may not result in an active or liquid market and the price of our Equity
Shares may be volatile and you may be unable to resell your Equity Shares at or above the
Issue Price oral all.
2. The Merchant Banker associated with the Issue has handled 2 public
issue in the past three years which has not closed below the Issue Price on Listing date.
3. The average cost of acquisition of Equity Shares by our Promoters is
as follows:
Sr.No. |
Name of Promoters |
No of Equity
Shares held |
Average cost
of Acquisition (in Rs ) |
1. |
Mr. Navneetkumar
Radheshyam Somani |
32,92,602 |
7.81 |
2. |
Mr. Sunilkumar
Radheshyam Somani |
32,75,975 |
7.31 |
3. |
Mr. Rajan
Sunilkumar Somani |
3.83.313 |
2.52 |
4. |
M/s. Navneet R
Somani HUF |
10 |
10 |
5. |
M/s. Sunil R.
Somani HUF |
10 |
10 |
4. Weighted cost of acquisition:
Types of transactions |
Weighted average cost of acquisition (Rs
per Equity Shares) |
Weighted average cost of acquisition of
primary. |
19.00/- |
Weighted average cost of acquisition of primary
after giving effect of Bonus Issue |
Nil |
Weighted average cost of acquisition for
secondary sale i acquisition of shares. |
Nil |
The Issue was being made through the Book Building Process, in terms of
Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended
("SCRR") read with Regulation 229 of the SEBIICDR Regulations and in compliance
with Regulation 253 of the SEBIICDR Regulations wherein not more than 50% of the Net Issue
was available for allocation on a proportionate basis to Qualified Institutional Buyers
(*QIBs') (the "QIB Portion'). Our Company in consultation with the BRLMs allocated up
to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the Anchor
Investor Portion"). Further, not less than 15% of the Net Issue was made 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 Investors in accordance
with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above
the Issue Price. All potential Bidders (except Anchor Investors) were required to
mandatorily utilize the Application Supported by Blocked Amount ("ASBA") process
providing details of their respective bank account (including UPI ID for RIBs using UPI
Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the
Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the
Issue through the ASBA process. For details, see "Issue Procedure' on page 363 of the
Prospectus.
The bidding for Anchor investors opened and closed on Thursday.
February 20. 2025. The Company received 10 Anchor Investor Application Forms from 10
Anchor Investors (including Nil mutual funds through Nil Mutual Fund schemes) for Nil
Equity Shares. Such 10 Anchor Investors through 10 Anchor Investor Application Forms were
allocated 9,68,000 Equity Shares at a price of Rs. 175.00 per Equity Share under the
Anchor Investor Portion, aggregating to Rs. 1,694.00 Lakhs.
The issue (excluding Anchor Investor Portion) received 3,544
applications for 12,588,800 Equity Shares (before technical rejections and after invalid
bids Multiple/Duplicate) resulting in 5.12 times subscription (including reserved portion
of market maker). The Details of the Applications received from various categories (before
technical rejection) are as under:
Detail of the Applications Received:
Sr.No. |
Category |
No of
applications* |
No of shares |
Amount |
Reserved |
No of times
subscription |
1 |
MARKET MAKER |
1 |
176,000 |
30,800,000 |
176,000 |
1,00 |
2 |
QIB (Excluding
Anchor Investor) |
10 |
7,530,400 |
1,317,820,000 |
653,600 |
11,52 |
3 |
NIB |
289 |
2,287,200 |
400,179,200 |
488,800 |
4,68 |
4 |
RETAIL |
3,244 |
2,595,200 |
453,817,600 |
1,138,400 |
2,28 |
|
TOTAL |
3,544 |
12,588,800 |
2,202,616,800 |
2,456,800 |
5,12 |
This excludes 34 applications for 27.200 Equity Shares from Retail
Individual which v/ere not in bid book but which were banked.
Final Demand
A summary of the final demand as per BSE as on the Bid/lssue Closing
Date at different Bid Prices is as under:
Sr. No. |
Bid Price |
No. ol
Applications |
Sum Quantity |
Cumulative
Share |
% to Total |
1 |
165 |
77 |
1.04 |
77 |
1.04 |
2 |
166 |
3 |
0.04 |
80 |
1.08 |
3 |
167 |
1 |
0.01 |
81 |
1.09 |
4 |
168 |
2 |
0.03 |
83 |
1.12 |
5 |
169 |
1 |
0.01 |
84 |
1.13 |
6 |
170 |
17 |
0.23 |
101 |
1.36 |
7 |
171 |
1 |
0.01 |
102 |
1.37 |
8 |
172 |
4 |
0.05 |
106 |
1.43 |
9 |
173 |
4 |
0.05 |
110 |
1.48 |
10 |
174 |
6 |
0.08 |
116 |
1.56 |
11 |
175 |
3.354 |
45.16 |
3.470 |
46.72 |
|
CUTOFF |
3.957 |
53.28 |
7.427 |
100.00 |
|
TOTAL |
7.427 |
100.00 |
|
|
The Basis of Allotment was finalized in consultation with the
Designated Stock Exchange - BSE on February 27,2025.
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 175.00 per equity shares, was
finalized in consultation with BSE. The category was subscribed by 2.20520 times i.e. for
2,510,400 Equity Shares. Total number of shares allotted in this category is 1,138.400
Equity Shares to 1,423 successful applicants. The category wise details of the Basis of
Allotment are as under:
No. of Shares
applied for (Category wise) |
Number of
applications received |
%of Total |
Total No. of
Equity Shares applied in this category |
%to Total |
Proportionate
Shares available |
Ratio of
allottees to applicants |
Number of
successful applicants (after rounding) |
Total No. of
shares allocate allotted |
Surplus/
Deficit |
800 |
3.138 |
100 00 |
2.510.400 |
100.00 |
1.138.400 |
39 86 |
1,423 |
1.138.400 |
0 |
Total |
3,138 |
100.00 |
2,510,400 |
100.00 |
1,138,400 |
|
1,423 |
1,138,400 |
0 |
2) Allocation to Non-lnstitutional Investors (After Technical
Rejections): The Basis of Allotment to Other than Retail Individual Investors, who
have bid at Issue Price of Rs 175.00 per equity shares or above, was finalized in
consultation with BSE. The category was subscribed by 4.63502 times i.e., for 2,265.600
shares, the total number of shares allotted in this category is 488.800 Equity Shares to
204 successful applicants. The category wise details of the Basis of Allotment are as
under:
Sr.No. |
No.
of Shares applied for (Category wise) |
Number
of applications received |
%of
Total |
Total
No. of Equity Shares applied in this category |
%to
Total |
Proportionate
Shares available |
Ratio of allottees to applicants |
Total
No. of shares allocated/ alloted |
Surplus/
Deficit (14)-(7) |
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(10) |
14) |
(16) |
|
1 |
1600 |
103 |
36.65 |
164,800 |
7,27 |
35,555 |
44 |
103 |
35200 |
-355 |
2 |
2400 |
48 |
17.08 |
115,200 |
5,08 |
24,854 |
31 |
48 |
24800 |
-54 |
3 |
3200 |
8 |
2.85 |
25,600 |
1,13 |
5,523 |
7 |
8 |
5600 |
77 |
4 |
4000 |
14 |
4.98 |
56,000 |
2,47 |
12,082 |
1 |
1 |
11200 |
-882 |
|
|
|
|
|
|
|
1 |
14 |
800 |
800 |
5 |
4800 |
5 |
1.78 |
24,000 |
1,06 |
5,178 |
1 |
1 |
4000 |
-1178 |
|
|
|
|
|
|
|
1 |
5 |
800 |
800 |
6 |
5600 |
16 |
5.69 |
89,600 |
3,95 |
19,331 |
1 |
1 |
12800 |
-6531 |
|
|
|
|
|
|
|
1 |
2 |
6400 |
6400 |
7 |
6400 |
12 |
4.27 |
76,800 |
3,39 |
16,569 |
1 |
1 |
9600 |
-6969 |
|
|
|
|
|
|
|
3 |
4 |
7200 |
7200 |
8 |
7200 |
5 |
1.78 |
36,000 |
1,59 |
7,767 |
1 |
1 |
8000 |
233 |
9 |
8000 |
17 |
6.05 |
136,000 |
6,00 |
29,342 |
1 |
1 |
27200 |
-2142 |
|
|
|
|
|
|
|
3 |
17 |
2400 |
2400 |
10 |
8800 |
2 |
0.71 |
17,600 |
0,78 |
3,797 |
1 |
1 |
3200 |
-597 |
|
|
|
|
|
|
|
1 |
2 |
800 |
800 |
11 |
9600 |
5 |
1.78 |
48,000 |
2,12 |
10,356 |
1 |
1 |
8000 |
-2356 |
|
|
|
|
|
|
|
3 |
5 |
2400 |
2400 |
12 |
11200 |
2 |
0.71 |
22,400 |
0,99 |
4,833 |
1 |
1 |
4800 |
-33 |
13 |
12000 |
6 |
2.14 |
72,000 |
3,18 |
15,534 |
1 |
1 |
14400 |
-1134 |
|
|
|
|
|
|
|
1 |
6 |
800 |
800 |
14 |
12800 |
2 |
0.71 |
25,600 |
1,13 |
5,523 |
1 |
1 |
4800 |
-723 |
|
|
|
|
|
|
|
1 |
2 |
800 |
800 |
15 |
13600 |
1 |
0.36 |
13,600 |
0,60 |
2,934 |
1 |
1 |
3200 |
266 |
16 |
14400 |
7 |
2.49 |
100,800 |
4,45 |
21,747 |
1 |
1 |
16800 |
-4947 |
|
|
|
|
|
|
|
6 |
7 |
4800 |
4800 |
17 |
15200 |
1 |
0.36 |
15,200 |
0,67 |
3,279 |
1 |
1 |
3200 |
-79 |
18 |
16000 |
5 |
1.78 |
80,000 |
3,53 |
17,260 |
1 |
1 |
16000 |
-1260 |
|
|
|
|
|
|
|
2 |
5 |
1600 |
1600 |
19 |
18400 |
2 |
0.71 |
36,800 |
1,62 |
7,940 |
1 |
1 |
8000 |
60 |
20 |
20000 |
2 |
0.71 |
40,000 |
1,77 |
8,630 |
1 |
1 |
8000 |
-630 |
|
|
|
|
|
|
|
1 |
2 |
800 |
800 |
21 |
24000 |
4 |
1.42 |
96,000 |
4,24 |
20,712 |
1 |
1 |
19200 |
-1512 |
|
|
|
|
|
|
|
1 |
2 |
1600 |
1600 |
22 |
25600 |
1 |
0.36 |
25,600 |
1,13 |
5,523 |
1 |
1 |
5600 |
77 |
23 |
32000 |
1 |
0.36 |
32,000 |
1,41 |
6,904 |
1 |
1 |
7200 |
296 |
24 |
36000 |
1 |
0.36 |
36,000 |
1,59 |
7,767 |
1 |
1 |
8000 |
233 |
25 |
38400 |
1 |
0.36 |
38,400 |
1,69 |
8,285 |
1 |
1 |
8000 |
285 |
26 |
40000 |
1 |
0.36 |
40,000 |
1,77 |
8,630 |
1 |
1 |
8800 |
170 |
27 |
42400 |
1 |
0.36 |
42,400 |
1,87 |
9,148 |
1 |
1 |
8800 |
-348 |
28 |
56800 |
1 |
0.36 |
56,800 |
2,51 |
12,255 |
1 |
1 |
12000 |
-255 |
29 |
57600 |
2 |
0.71 |
115,200 |
5,08 |
24,854 |
1 |
1 |
24000 |
-854 |
|
|
|
|
|
|
|
1 |
2 |
800 |
800 |
30 |
64000 |
1 |
0.36 |
64,000 |
2,82 |
13,808 |
1 |
1 |
13600 |
-208 |
31 |
72000 |
1 |
0.36 |
72,000 |
3,18 |
15,534 |
1 |
1 |
15200 |
-334 |
32 |
102400 |
1 |
0.36 |
102,400 |
4,52 |
22,093 |
1 |
1 |
22400 |
307 |
33 |
171200 |
1 |
0.36 |
171,200 |
7,56 |
36,936 |
1 |
1 |
36800 |
-136 |
34 |
177600 |
1 |
0.36 |
177,600 |
7,84 |
38,317 |
1 |
1 |
38400 |
83 |
|
Total |
281 |
100.00 |
2,265,600 |
100.00 |
488,800 |
|
|
488,800 |
0 |
3) Allocation to QIBs excluding Anchor Investors (After Technical
Rejections): The Basis of Allotment to QIBs. who have bid at Issue Price of Rs 175.00
per equity shares or above, was finalized in consultation with BSE. The category was
subscribed by 11.52142 times i.e., for 7,530,400 shares the total number of shares
allotted in this category is 653,600 Equity Shares to 10 successful applicants. The
category wise details of the Basis of Allotment are as under:
Category |
FI'S/BANK'S |
MRS |
IC'S |
NBFC'S |
AIF |
FPC/FII |
Others |
Total |
QIB |
- |
- |
|
- |
- |
133,600 |
520,000 |
653,600 |
4) Allocation to Anchor Investors (After Technical Rejections &
Withdrawal): The Company in consultation with the BRLM has allotted 9,68,000 Equity
Shares to 10 Anchor Investors at Anchor Investor Issue Price of * 175.00 per equity shares
in accordance with the SEBIICDR Regulations. The category wise details of the Basis of
Allotment are as under:
Category |
FI'S/BANK'S |
MF'S |
ICS |
NBFC'S |
AIF |
FPI/FPC |
Others |
Total |
Anchor |
- |
- |
- |
- |
221,600 |
688,000 |
58,400 |
968,000 |
5) Allocation to Market Maker (After Technical Rejections): The
Basis of Allotment to Market Maker, who have bid at Issue Price of Rs 175.00 per equity
shares or above, was finalized in consultation with BSE. The category was subscribed by
1.00 time i.e. for 1,76,000 shares the total number of shares allotted in this category is
1,76,000 Equity Shares. The category wise details of the Basis of Allotment are as under:
No. of Shares
applied for (Category wise) |
Number of
applications received |
%of Total |
Total No. of
Equity Shares applied in this category |
%to Total |
No. of Equity
Shares allocated,/ allotted per Applicant |
Ratio |
Total Number
of shares allotted |
Surplus /
Deficit |
176,000 |
1 |
100.00 |
176,000 |
100.00 |
176,000 |
1 |
1 |
176,000 |
0 |
Total |
1 |
100.00 |
176,000 |
100.00 |
176,000 |
|
176,000 |
0 |
The Board of Directors of the Company at its meeting held on February
27. 2025 has approved the Basis of Allocation of Equity Shares as approved by the
Designated Stock Exchange viz. BSE 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 / as filled in the application form on or before February 27. 2025.
Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will
process on or prior to February 27, 2025. In case the same is not received within ten
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 Four 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 in the Prospectus dated February 27, 2025
("Prospectus") filed with Registrar of Companies. Ahmedabad.
The details of the allotment made would also be hosted on the website
of the Registrar to the issue, KFin Technologies Limited at www.kfintech.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:
 |
KFIN TECHNOLOGIES LIMITED |
Selenium Tower-B Plot No.31 & 32
Gachibowli, Financial District, Nanakramguda, Serilingampally, |
Hyderabad 500032 Telangana, India Tel:
+91 40 6716 2222 |
Email: bel.ipo@kfintech.com
Website: www.kfintech.com |
Investor grievance e-mail: einward.ris@kfintech.com |
Contact person: Mr. M Murali Krishna SEBI
Registration No.: INR000000221 |
|
For Beezaasan Explotech Limited |
|
On behalf of the Board of Directors |
|
Sd/- |
|
Mr. Navneetkumar Radheshyam Somani |
Place: Gandhinagar |
Designation: Chairman & Managing
Director |
Date: February 28,
2025 |
DIN:
01782793 |
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
BEEZAASAN EXPLOTECH LIMITED.
Beezaasan Explotech Limited is proposing, subject to market
conditions, public issue of its equity shares and has filed the Prospectus with the
Registrar of Companies, Ahmedabad. The Prospectus is available on the website of SEBl at www.sebi.gov.in. the website of the Book Running Lead
Manager at www.shcapl.com website of the BSE at
www.bseindia.com and website of Issuer Company at www.beezaasan.com
Investors should note that investment in Equity Shares involves a high degree of risk. For
details, investors shall refer to and rely on the Prospectus including the section titled
"Risk Factors" beginning on page 30 of the Prospectus, which has been filed with
ROC. 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 Regulation S 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.