(This Is Only An Advertisement For Information Purposes And Not A Prospectus Announcement. Not For Distribution Outside India.)
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| SILKFLEX POLYMERS (INDIA) LIMITED |
| Corporate Identification Number: U51909WB2016PLC215739 |
Our Company was originally incorporated on May 13. 2016 as 'Silkflex Polymers (India) Private Limited' under the provisions of the Companies Act. 2013 with the Registrar of Companies. Central Registration Centre. Subsequently, the status of the Company was changed to public limited Company and the name of our Company was changed from "Silkflex Polymers (India) Private Limited" to "Silkflex Polymers (India) Limited' vide fresh certificate of incorporation dated December 21. 2023 by the Registrar of Companies, Kolkata. The Corporate Identification Number of our Company is U51909W82016PLC215739. For further details on incorporation and registered office of our Company, see "History and Certain Corporate Matters" beginning on page 155 of the Prospectus.
| Registered Office: Daga Complex. Sulati Jaladhulagori. Sankrail. Howrah - 711 302. West Bengal. India |
| Tel: +91 9674912615 | E-mail: investors@silkflexindia.in | Website: www.silkflexindia.in |
| Contact Person: Mr. Sourabh Sharma. Company Secretary and Compliance Officer |
PROMOTERS OF OUR COMPANY: MR. TUSHAR LALIT KUMAR SANGHAVI. MS. URMI RAJ MEHTA. M/S. TUSHAR LALITKUMAR SANGHAVI HUF AND M/S. LALITBHAI H SANGHVI HUF |
"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 Emerge Platform of NSE (NSE EMERGE)."
BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 34,82,000 EQUITY SHARES OF FACE VALUE OF 710/- EACH ("EQUITY SHARES") OF SILKFLEX POLYMERS (INDIA) LIMITED ("SPIL" OR ' OUR COMPANY" OR ‘THE ISSUER") FOR CASH AT A PRICE OF Rs.52/- PER EQUITY SHARE (INCLUDING A PREMIUM OF T42A PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs. 1,810.64 LAKHS ("THE ISSUE") OF WHICH 1.78,000 EQUITY SHARES AGGREGATING TO Rs. 92.56 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 33,04.000 EQUITY SHARES OF FACE VALUE OF Rs.10/- EACH AT AN ISSUE PRICE OF Rs. 52/* PER EQUITY SHARE AGGREGATING TO Rs. 1,718.08 LAKHS ("NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.00% AND 28.47% RESPECTIVELY OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS. PLEASE REFER TO CHAPTER TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE 250 OF THE PROSPECTUS.
| THE FACE VALUE OF THE EQUITY SHARES IS Rs.10/- EACH AND THE ISSUE PRICE IS 5.2 TIMES OF THE FACE VALUE |
| ISSUE | ISSUE OPENED ON: TUESDAY, MAY 07, 2024 |
| ISSUE CLOSED ON: FRIDAY, MAY 10, 2024 |
RISK TO INVESTORS: |
1. Our Equity Shares have never been publicly traded, and may experience price and volume fluctuations following 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 or at all.
2. The average cost of acquisition of Equity Shares by our Promoters is set forth in the table below:
| Sr. No. | Name of the Promoters | No of Equity Shares held | Average cost of Acquisition (in Rs.) |
| 1. | Mr. Tushar Lalit Kumar Sanghavi | 66,65,450 | 6.81 |
| 2. | Ms. Urmi Raj Mehta | 48.750 | 10.77 |
| 3. | Ws Tushar Lahtkumar Sanghavi HUF | 9,10.000 | 6.18 |
| 4. | M's Lalitbhai H. Sanghvi HUF | 4,87,500 | 3.08 |
Investors are required to refer section titled "Risk Factors" beginning on page 26 of the Prospectus. |
Our Company has filed the Prospectus dated May 01,2024 with the ROC. Kolkata (the "Prospectus"). The Equity Shares of the Company are proposed to be listed on the SME Platform of National Stock Exchange of India Limited i.e., NSE Emerge, in terms of the Chapter IX of the SEBI (ICDR) Regulations. 2018 as amended from time to time. Our Company has received an In-Principle approval from NSE for the listing of the Equity Shares pursuant to letter dated April 30,2024. NSE is the Designated Stock Exchange for the purpose of this Issue. The trading is to be commenced on May 15, 2024 (Subject to receipt ot listing and trading approvals from the NSE). The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category is made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public is initially made available for allotment to Retail Individual Investors. The balance of Net Issue of Shares to the public is made available for allotment to Individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. Under subscription, if any. in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designation Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of the irrespective bank accounts and / or UPI IDs, in case of Rlls. if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same
SUBSCRIPTION DETAILS |
The Net Issue has received 34,418 applications before technical rejections for 12,27.48,000 Equity Shares resulting in 37.15 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received
| Gross | Less: Re | ections* | Valid | |||
| Category | Applications | Equity Shares | Applications | Equity Shares | Applications | Equity Shares |
| Non-Retail Investors | 3,390 | 6,06,92,000 | 36 | 1,88,000 | 3,354 | 6,05,04,000 |
| Retail Individual Investors | 31,028 | 6,20,56,000 | 830 | 16,60,000 | 30,198 | 6,03,96.000 |
| TOTAL | 34,418 | 12,27,48,000 | 866 | 18,48,000 | 33,552 | 12,09,00,000 |
'This includes 312 applications lor 6,24.000 equity shares from Retail investors which were not in book but excludes bids (UPI mandates) not accepted by investors.
Note:
1. The Net Issue does not include 1.78,000 Equity Shares reserved for Market Maker, which was subscribed by 1.00 time.
2. There v/ere 866 Technical Rejections for 18.48,000 Equity Shares. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE on May 13.2024.
A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 52/- per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1.78.000 Equity Shares. The category-wise details of the Basis of Allotment are as under:
| No. of Shares Applied for | No. of Applications Received | % to Total | Total No. of Shares Applied | % to Total | Allocation per Applicant | Ratio of Allottees to the Applicant | Total No. of Shares Allotted | % to Total |
| 1,78,000 | 1 | 100.00 | 1,78,000 | 100.00 | 1,78,000 | 1:1 | 1,78,000 | 100.00 |
B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs.52/- per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018. the total number of shares allotted in this category is 16.52.000 Equity Shares. The category was subscribed by 36.56 times. The category-wise details of the Basis of Allotment are as under:
| No. of Shares Applied for | No. of Applications Received | %to Total | Total No. of Shares Applied | %to Total | Allocation per Applicant | Ratio of Allottees to the Applicant | Total No. of Shares Allotted | %to Total | ||
| Before Rounding off | After Rounding off | |||||||||
| 2000 | 30,198 | 100.00 | 6,03,96,000 | 100.00 | 54,71 | 2000 | 25 | 914 | 16,52,000 | 100.00 |
C) Allocation to Other than Retails Category (Alter Technical Rejections & Withdrawals): The Basis of Allotment to the Non-Retail Investors, at the Issue Price of Rs.52/- per Equity Share, was finalised in consultation with NSE Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018. the total number of shares allotted in this category is 16.52.000 Equity Shares. The category was subscribed by 36.62 times, The category-wise details of the Basis of Allotment are as under:
| No. of Shares Applied for | No. of Applications Received | % to Total | Total No. of Shares Applied | %to Total | Proportionate shares available | Allocation per Applicant | Ratio of Allottees to the Applicant | Total No. of shares allocated/alloted | ||
| Before Rounding off | After Rounding off | |||||||||
| 4,000 | 2,253 | 67.17 | 90,12,000 | 14.89 | 2,46,063 | 109,22 | 2.000 | 41 | 751 | 2,46,000 |
| 6,000 | 213 | 6.35 | 12,78,000 | 2.11 | 34,894 | 163,82 | 2.000 | 17 | 213 | 34,000 |
| 8,000 | 139 | 4.14 | 11,12,000 | 1.84 | 30,362 | 218,43 | 2.000 | 15 | 139 | 30,000 |
| 10,000 | 111 | 3.31 | 11,10,000 | 1.83 | 30,307 | 273,04 | 2.000 | 5 | 37 | 30,000 |
| 12,000 | 50 | 1.49 | 6,00,000 | 0.99 | 16,382 | 327,64 | 2,000 | 4 | 25 | 16,000 |
| 14,000 | 26 | 0.78 | 3,64,000 | 0.60 | 9,939 | 382,27 | 2.000 | 5 | 26 | 10,000 |
| 16,000 | 36 | 1.07 | 5,76,000 | 0.95 | 15,727 | 436,86 | 2.000 | 2 | 9 | 16,000 |
| 20,000 | 179 | 5.34 | 35,80,000 | 5.92 | 97,748 | 546,08 | 2.000 | 49 | 179 | 98,000 |
| 22,000 | 22 | 0.66 | 4,84,000 | 0.80 | 13,215 | 600,68 | 2.000 | 7 | 22 | 14,000 |
| 30,000 | 17 | 0.51 | 5,10,000 | 0.84 | 13,925 | 819,12 | 2.000 | 7 | 17 | 14.000 |
| 38,000 | 7 | 0.21 | 2.66.000 | 0.44 | 7,263 | 1,037,57 | 2.000 | 4 | 7 | 8.000 |
| 40,000 | 16 | 0.48 | 6,40,000 | 1.06 | 17,475 | 1,092,19 | 2,000 | 9 | 16 | 18,000 |
| 50,000 | 10 | 0.30 | 5,00,000 | 083 | 13,652 | 1,365,2 | 2.000 | 7 | 10 | 14,000 |
| 52,000 | 4 | 0.12 | 2,08,000 | 0.34 | 5,679 | 1,419,75 | 2.000 | 3 | 4 | 6,000 |
| 58,000 | 6 | 0.18 | 3,48,000 | 0.58 | 9,502 | 1,583,67 | 2,000 | 5 | 6 | 10,000 |
The Board of Directors of the Company at its meeting held on May 13,2024. has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and / or notices shall be dispatched to the address of the investors as registered with the depositories on or before May 14.2024. Further, the instructions to Self-Certified Syndicate Banks for unblocking of funds will process on or prior to May 14.2024. The Equity Shares allotted 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, investors may contact the Registrar to the Issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the Emerge Platform of NSE within 3 working days from the Closure of the Issue. The trading is proposed to be commenced on May 15,2024 subject to receipt of listing and trading approvals from NSE.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated May 01,2024 CProspectus").
INVESTORS PLEASE NOTE |
The details of the allotment made has been 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 Applicant, 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 given below:
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BIGSHARE SERVICES PRIVATE LIMITED |
| Office No. 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 | |
| Investor Grievance E-mail: investor@bigshareonline.com | Website: www.bigshareonline.com | |
| Contact Person: Mr. Vinayak Morbale | SEBI Registration Number: INR000001385 |
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Prospectus dated May 01.2024.
| For Silkflex Polymers (India) Limited | |
| On Behalf of the Board of Directors | |
| Sd/- | |
| Mr. Tushar Lalit Kumar Sanghavi | |
| Place: Howrah | Designation: Chairman & Managing Director |
| Date: May 13.2024 | DIN:07476030 |
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 SILKFLEX POLYMERS (INDIA) LIMITED
Silkflex Polymers (India) Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Issue of its Equity Shares and has filed Prospectus with the Registrar of Companies, Kolkata on May 01, 2024. The Prospectus is available on websites of the Company, the NSE and the Lead Manager at www.silkflexindia.in, www.nseindia.com. www.shreni.in respectively. Applicants should note that investment in equity shares involves a high-risk and for details relating to the same, see the Prospectus, including section titled 'Risk Factors' beginning on page 26 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 'U.S. Securities Act and applicable U.S. state securities law. Accordingly, the Equity Shares are offered or sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as defined in Rule 144A under the U.S. Securities Act and (ii) Outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities act and applicable laws of the jurisdiction where such offers and sales occur.
