METRO BRANDS LIMITED INITIAL PUBLIC OFFERING TO

METRO BRANDS LIMITED INITIAL PUBLIC OFFERING TO OPEN ON FRIDAY, DECEMBER 10, 2021

 

·      Price Band fixed at Rs 485 to Rs 500 per equity share of face value of Rs. 5 each (“Equity Shares”)

 

·      Bid /Offer Opening Date – Friday, December 10, 2021 and Bid/ Offer Closing Date – Tuesday, December 14, 2021

Metro Brands Limited (The “Company”) to open its Bid / Offer in relation to its initial public offering on Friday, December 10, 2021 (“Offer”)

The Price Band of the Offer has been fixed at Rs. 485 to Rs. 500 per equity share of face value of Rs. 5 each. Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

The Offer comprises a fresh issue of Equity Shares aggregating up to Rs. 295 crores by the Company (The “Fresh Issue”) and an offer for sale of up to 21,450,100 Equity Shares by the Selling Shareholders. The offer for sale comprises up to 13,015,000 Equity Shares by the Promoter Selling Shareholders, up to 8,427,000 Equity Shares by the Promoter Group Selling Shareholders and up to 8,100 Equity Shares by the Other Selling Shareholder. (The “Offer for Sale”).

 

The Company has in consultation with the BRLMS, undertaken a private placement of 73,136 Equity Shares for cash consideration aggregating to Rs. 3.29 crores. Accordingly, the fresh issue size as was stated in the Draft Red Hearing Prospectus, was reduced from up to Rs. 250 crores to up to Rs. 246.71 crores. Thereafter, Company has increased the fresh issue size up to Rs. 295 crores, in accordance with and subject to, the provisions of the SEBI ICDR Regulations.

This is an Offer in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs and such portion, the “QIB Portion”), provided that Company and the Promoter Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”)

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if 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 will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price All potential Bidders (except Anchor Investors) are mandatorily required to utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of RIBs using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

For details, see “Offer Information” beginning on page 360 of the Red Herring Prospectus.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

Axis Capital Limited, Ambit Private Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited), Equirus Capital Private Limited, ICICI Securities Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers

AMI ORGANICS LIMITED INTIAL PUBLIC OFFERING TO OPEN ON

                        AMI ORGANICS LIMITED INTIAL PUBLIC                                         OFFERING TO OPEN ON SEPTEMBER 01, 2021

 

·      Price Band of Rs. 603 to Rs. 610 per equity share of face value of Rs. 10 each (“Equity Shares”)

·      Bid /Offer Opening Date – Wednesday, September 01, 2021 and Bid/ Offer Closing Date – Friday, September 03, 2021

·      Minimum Bid Lot is 24 Equity Shares and in multiples of 24 Equity Shares thereafter

·      The Floor Price is 60.3 times the face value of the Equity Shares and the Cap Price is 61 the face value of the Equity Shares.

Ami Organics

Limited (“Company”), a research & development driven manufacturer of specialty chemicals with varied end usage and is one of the major manufacturers of pharma intermediaries for certain key APIs, proposes to open its Initial Public Offering on Wednesday, September 01, 2021.

The Price Band of the offer has been fixed at Rs. 603 to Rs. 610 per Equity Share. Bids can be made for a minimum of 24 Equity Shares and in multiple of 24 Equity Shares thereafter. The Offer will close on Friday, September 03, 2021. 

 

The Initial Public Offering comprises of fresh issue of equity shares of face value ₹ 10 each (“Equity Shares”). The Offer comprises of fresh issue of such number of Equity Shares aggregating up to Rs. 200 crores (“Fresh Issue”) and an offer of sales of up to 6,059,600 Equity Shares, constituting up to 700,000 Equity Shares by Parul Chetankumar Vaghasia (“Promoter Selling Shareholder”), Up to 1,500,000 Equity Shares by Girishkumar Limbabhai Chovatia, Up to 3,050,000 equity shares by Kiranben Girishbhai Chovatia, Up to 174,600 Equity Shares by Aruna Jayantkumar Pandya (jointly held with Jayant Manubhai Pandya), Up to 87,300 Equity Shares by Hina Indreshbhai Shah, up to 87, 280 Equity Shares by Harshad Ramlal Sheth, up to 76,200 Equity Shares by Dhirajlal Amrutlal Amlani, up to 75,000 Equity Shares by Vrushti Atulkumar Shah, Up to 63,000 Equity Shares by Jolitbhai Jasvantlal Shah (jointly held with Amitaben Jolitbhai Shah), Up to 55,920 Equity Shares by Nishit Atulkumar shah, Up to 49,000 Equity Shares  by Surabhi Yash Shah, Up to 32,000 Equity Shares by Narmada Amrutlal Amlani, Up to 26,500 Equity Shares by Shanti Devi Kankaria, Up to 19,000 Equity Shares by Divya Mahendrakumar Kankaria, Up to 15,000 Equity Shares by Chovatiya Haresh H, Up to 14,910 Equity Shares by Amitaben Jolitbhai Shah(jointly held with Jolitbhai Jasvantlal Shah), Up to 14,500 Equity Shares by Saryu Dhirajlal Amlani, Up to 10,000 Equity Shares by Koladia Mehul M, Up to 8700 Equity Shares by Jyotiben Rakeshbhai Lahoti (jointly held with Rakesh Baluram Lahoti) and Up to 690 Equity Shares by Shah Disha Jolit (jointly held with Jolitbhai Jasvantlal Shah) (“Collectively, ”Selling Shareholders” and such Equity Shares “Offered Shares”) (“Offer For Sale” and together with the Fresh Issue, the “Offer”).

Further, the Company in consultation with the BRLMs (defined below), has undertaken a Pre-IPO placement of Equity Shares aggregating to Rs. 100 crores (The “Pre-IPO Placement”). The size of the Fresh Issue has been reduced by Rs. 100 crores pursuant to the Pre-IPO placement. Accordingly, the Fresh Issue size is up to Rs. 200 crores.

The Offer is 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 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such allocation, the “QIB Portion”), provided that our Company and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be 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 shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (“NIB”) and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily participate in the Offer only through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Accounts (including UPI ID in case of RIBs, if applicable) which will be blocked by the SCSBs, or the Sponsor Bank, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

The net proceeds of Fresh Issue i.e. Gross proceeds of the Fresh Issue less the Offer expenses apportioned to the company (“Net Proceeds”) and the proceeds from Pre-IPO placement are proposed to be utilised towards (i) Repayment / prepayment of certain financial facilities availed by the company amounting to Rs. 140 crores; (ii) Funding working capital requirements of the company amounting to Rs. 90 crores and (iii) General corporate purpose

In addition, the company expects to achieve the benefits of listing the Equity Shares on the Stock Exchanges, to enhance its visibility and brand image among existing and potential customers and creation of a public market for its Equity Shares in India.

The proceeds of the Offer for Sale shall be received by the Selling Shareholders. The Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to the proceeds from the Offer for Sale, net of their respective portion of the Offer related expenses and relevant taxes thereon

Company will not receive any proceeds from the Offer for Sale and all such proceeds (net of any Offer related expenses to be borne by the Selling Shareholders) will go to the Selling Shareholders.

Company expects that listing of the Equity Shares will enhance its visibility and brand image and provide liquidity to Shareholders and will also provide a public market for the Equity Shares in India.

Intensive Fiscal Services Private Limited, Ambit Private Limited and Axis Capital Limited are the Book Running Lead Managers (“BRLMs”) to the issue.

 The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE and NSE

All capitalised terms used, but not defined herein, shall have the meanings ascribed to such terms in the RHP.

Krishna Institute of Medical Sciences Limited’s Initial Public Offering to

 Krishna Institute of Medical Sciences Limited’s Initial Public Offering 

to open on Wednesday, June 16, 2021

·           Price Band of Rs 815 to Rs 825 per equity share of face value of Rs. 10 each (“Equity Shares”)

·           Bid /Offer Opening Date – Wednesday, June 16^th, 2021 and Bid/ Offer Closing Date – Friday, June 18^th, 2021

·           Minimum Bid Lot is 18 Equity Shares and in multiples of 18 Equity Shares thereafter

·           The Floor Price is 81.50 times the face value of the Equity Shares and the Cap Price is 82.50 times the face value of the Equity Shares.

 

Krishna Institute of Medical Sciences Limited (the “Company” or “KIMS Hospitals”), will open the Bid/Offer period in relation to its initial public offering of Equity Shares on Wednesday, June 16, 2021 (the “IPO”/ “Offer”). The Bid / Offer Period will close on Friday June 18^th, 2021. The Price Band of the Offer has been fixed at Rs. 815 to Rs. 825 per Equity Share.

The IPO comprises a fresh issue aggregating up to Rs. 2,000 million (the “Fresh Issue”) and an offer for sale of up to 23,560,538 Equity Shares (the “Offer for Sale”), up to 16,003,615 Equity Shares by General Atlantic Singapore KH Pte. Ltd. (the “Investor Selling Shareholder”), up to 387,966 Equity Shares by Dr Bhaskara Rao Bollineni, up to 775,933 Equity Shares by Rajyasri Bollineni, up to 387,966 Equity Shares by Bolllineni Ramanaiah Memorial Hospital Private Limited (collectively, the “Promoter Selling Shareholders”), up to 6,005,058 Equity Shares by persons referred to in Annexure A to the red herring prospectus dated June 9, 2021 (“RHP”) (the “Other Selling Shareholders”, and together with the “Investor Selling Shareholder” and “Promoter Selling Shareholders”, the “Selling Shareholders”, and such Equity Shares, the “Offered Shares”).

The Offer includes a reservation aggregating up to Rs. 200 million for subscription by Eligible Employees of the Company (the “Employee Reservation Portion”).  Further, the Offer includes an employee discount of up to Rs. 40 on the Offer Price for Eligible Employees Bidding in the Employee Reservation Portion.

The Offer less the Employee Reservation Portion is referred to as the “Net Offer”.

Bids can be made for a minimum of 18 Equity Shares and in multiples of 18 Equity Shares thereafter.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Offer will be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that Company’s Board or the IPO Committee, as applicable, may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”).

Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (excluding the Anchor Investor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares may be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.

All potential Bidders (except Anchor Investors) are required to mandatorily utilise 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 will be 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 are not permitted to participate in the Offer through the ASBA process.

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. 

Kotak Mahindra Capital Company Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.

Stove Kraft Limited Initial Public Offer Bid

 Stove Kraft Limited Initial Public Offer Bid/ Offer period to open on January 25, 2021

 ·        Price band fixed at ₹384 to ₹385 per equity share

·        Bid/ Offer period to remain open from Monday, January 25, 2021 to Thursday, January 28, 2021

Stove Kraft Limited (the “Company’), one of the leading brands for kitchen appliances in India and one of the dominant players for pressure cookers and amongst the market leaders in the sale of free standing hobs and cooktops (Source: F&S Report, sponsored by our Company), will open the Bid/ Offer in relation to its initial public offer of equity shares of face value of ₹10 each (“Equity Shares” and such initial public offer, the “Offer”) on Monday, January 25, 2021. The price band of the Offer has been fixed at ₹384 to ₹385 per Equity Share. The Bid/ Offer period will close on Thursday, January 28, 2021. The Company and the Selling Shareholders may, in consultation with the BRLMs, consider participation by Anchor Investors which shall be one Working Day prior to the Bid/ Offer Opening Date.

The initial public offering comprises of a fresh issue aggregating ₹950.00 million (“Fresh Issue”) and an offer for sale of up to 8,250,000 equity shares comprising of up to 690,700 equity shares by promoter, Rajendra Gandhi, up to 59,300 equity shares by promoter, Sunita Rajendra Gandhi (together with Rajendra Gandhi, “Promoter Selling Shareholders”), up to 1,492,080 equity shares by Sequoia Capital India Growth Investment Holdings I (“SCI-GIH”) and up to 6,007,920 equity shares by SCI Growth Investments II (“SCI”, together with SCI-GIH, “Investor Selling Shareholders”) (the Investor Selling Shareholders together with the Promoter Selling Shareholders, the “Selling Shareholders”).

Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

The Offer is 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 31 of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018 (“SEBI ICDR Regulations”) and is being made in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Category”), provided that the Company and Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Category to Anchor Investors at the Anchor Investor Allocation Price on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds only 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 shall be added to the QIB Portion. Further, such number of Equity Shares representing 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be allotted to QIBs, the Bid Amounts received by the Company shall be refunded.

Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID, in case of RIBs, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Net Proceeds from the Fresh Issue are proposed to be utilised for (i) ₹760 mn towards Repayment/pre-payment, in full or part, of certain borrowings availed by the Company; and (ii) for general corporate purposes.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing.

Edelweiss Financial Services Limited and JM Financial Limited are the Book Running Lead Managers to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus (“RHP”).

Amongst the leading CPaaS providers, Route Mobile Limited to

Amongst the leading CPaaS providers, Route Mobile Limited to open
IPO on September 9, 2020

Initial public offering of up to [●] equity shares of face value ₹ 10 each of Route Mobile Limited (“Company”) (“Equity Shares”) for cash at a price of ₹ [●] per Equity Share including a premium of ₹ [●] per equity share (“Offer Price”), aggregating up to ₹ 600 crore (“Offer”). The Offer comprises a fresh issue of up to [●] Equity Shares aggregating up to ₹ 240 crore (“Fresh Issue”) and an offer for sale of up to [●] Equity Shares aggregating up to ₹ 360 crore by the selling shareholders being the promoters, including up to [●] Equity Shares aggregating up to ₹ 180 crore by Sandipkumar Gupta and up to [●] Equity Shares aggregating up to ₹ 180 crore by Rajdipkumar Gupta (“Offer for Sale”). The Offer shall constitute up to [●] % of the fully diluted post-offer paid-up equity share capital of the Company.

·         Minimum Bid lot is 40 Equity Shares and in multiples of 40 Equity Shares thereafter

·         Price Band of ₹ 345 – ₹ 350 per Equity Share

·        Offer opening date – September 9, 2020 and Offer closing date – September 11, 2020

·        The floor price is 34.5 times the face value of the Equity Shares and the cap price is 35 times the face value of the Equity Shares.   

Route Mobile, among the leading Omnichannel Cloud Communication Service Provider (CPaaS), to enterprises, over-the-top (“OTT”) players and mobile network operators (“MNOs”), with a client base including world’s largest and well known organizations across social media companies, banking and financial services, aviation, retail, e-commerce, logistics, healthcare, hospitality, telecom sector; will be opening its initial public offering on September 9, 2020 and will close on September 11, 2020, with a price band of ₹ 345 – ₹ 350 per Equity Share. Bids by anchor investors shall be submitted, and allocation to them be will be completed, on September 8, 2020, being one working day prior to the Offer opening date.

The Offer is 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 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that the Company and the Selling Shareholders in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID (in case of RIBs) if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process. 

Incorporated in 2004, the Company has served more than 30,150 clients since its inception, as of June 30, 2020. The Company has been ranked 2^nd Globally as a tier 1 application-to-peer service provider and 1^st for value added services amongst tier 1 vendors as per the “A2P SMS Messaging Vendor Performance Report 2017” dated June 2017 prepared and issued by Roaming Consulting Company Limited. The business verticals of the company include Enterprises, Mobile Operator, and Business Process Outsourcing for clients across Africa, Asia Pacific, Europe, Middle East and North America. 

  

The company operates through prepaid and postpaid business models with high operating margins and low cost base. The indigenously developed CPaaS platform is scalable with limited capital expenditure requirements.  In FY 20, Route Mobile processed more than 30.31 billion billable transactions and three months ended 2020, it processed more than 6.95 billion billable transactions.

The Company generated revenue from operations - ₹ 504.9 crore, ₹ 844.6 crore, ₹ 9,56.2 crore and ₹ 309.6 crore in fiscal 2018, 2019 and 2020, and in the three months ended June 30, 2020, respectively. 

The Company proposes to utilize the Net Proceeds towards funding for repayment or pre-payment, in full or part, of certain borrowings of the Company; acquisitions and other strategic initiatives; purchase of office premises in Mumbai; and general corporate purposes.

ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Limited and IDBI Capital Markets & Securities Limited have been appointed as the book running lead managers to the Offer and KFin Technologies Private Limited is appointed as the Registrar to the Offer. The Equity Shares offered through the RHP are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”).

Rossari Biotech Limited IPO subscription

Rossari Biotech Limited IPO subscription on Day 1 (July 13, 2020) at 05.00 pm. 

Overall 0.60 times - QIB 0.41 times, HNI 0.11 times and Retail 0.92 times.

 

Issue Highlights

Issue Size (Fresh+OFS)	Rs 496.24 crore (Fresh Issue Rs.50 crore and OFS Rs.446.25 Crore)
Price Band	Rs. 423 - Rs. 425
Allocation Category wise	QIB: 50% HNI: 15% and RII 35%
Issue Period	July 13, 2020 to July 15, 2020
BRLMs	Axis Capital Limited & ICICI Securities Ltd.
Advisor	Axcelus Finserv Private Limited
Promoters	Mr. Edward Menezes-Executive Chairman and Mr. Sunil Chari - Managing Director of Rossari Biotech Limited

The Company proposed to raise ₹ 496.24 Cr via the fresh issue of ₹ 50 Cr and OFS of ₹ 446.25 Cr. The net proceeds from the fresh issue to prepay or repay certain indebtedness, including accrued interest, fund working capital requirements and for general corporate purposes. 

A total of 8 mutual funds through 20 schemes bid for the anchor portion. 

Institutional investors that participated in the anchor allotment included Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae Asset Mutual Fund, Goldman Sachs, HFDC Mutual Fund, SBI Mutual Fund, among others.