Initial public offering of Data Patterns (India) Limited’s

 Initial public offering of Data Patterns (India) Limited’s 

to open on 14^th December 2021

·         Price Band of ₹ 555 – ₹ 585 per equity share bearing face value of ₹ 2 each (“Equity Shares”).

·         Bid/Offer Opening Date – Tuesday, December 14, 2021 and Bid/Offer Closing Date – Thursday, December 16, 2021.

·         Minimum Bid Lot is 25 Equity Shares and in multiples of 25 Equity Shares thereafter.

·         The Floor Price is 277.50 times the face value of the Equity Share and the Cap Price is 292.50 times the face value of the Equity Share.

Risks to Investors: • Average Cost of acquisition of Equity Shares for the Selling Shareholders ranges between  ₹ 0.36 to  ₹ 63.65 and offer price at the upper end of the price band is ₹ 585  • Details of Acquisition of all Equity Shares transacted in last three years and one year:

Period	Weighted Average Cost of Acquisition Price (in  ₹)*	Upper end of the price band (₹ 585) is ‘X’ times the Weighted Average Cost of Acquisition	Range of acquisition price: Lowest Price -Highest Price (in  ₹)*
Last 1 year	109.71	5.33	0.00 – 577.00
Last 3 years	109.71	5.33	0.00 – 577.00

 

* Price has been calculated by adjusting for split and bonus of equity shares

• Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 18.94%. • The two BRLMs associated with the Offer have handled 39 public issues in the past three years, out of which 13 issues closed below the issue price on listing date. 

Data Patterns (India) Limited, vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Tuesday, December 14, 2021. The Bid/Offer Period will close on Thursday, December 16, 2021. The Price Band for the Offer has been fixed at ₹ 555 – ₹ 585 per Equity Share.

The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by Selling Shareholders. The OFS includes sale of up to 19,67,013 equity shares by Srnivasagopalan Rangarajan, up to 19,67,012 equity shares by Rekha Murthy Rangarajan, up to 75,000 equity shares by Sudhir Nathan, up to 4,14,775 equity shares by G.K. Vasundhara and up to 15,28,750 equity shares by existing shareholders.

Florintree backed defence and aerospace electronics company has undertaken a pre-IPO placement of 10,39,861 equity shares aggregating for up to Rs 60 crore. The company intends to utilise net proceeds from the fresh issue to the extent of Rs 60.80 crore for prepayment / repayment of certain outstanding borrowings availed by the Company, Rs 95.19 crore for funding its working capital requirements, Rs 59.84 crore for upgrading and expansion of its existing facilities at Chennai and general corporate purposes.

Data Patterns has a net profitability growth of approximately 164% between Fiscal 2020 and Fiscal 2021 and is one of the fastest-growing companies in the Defence and Aerospace Electronics sector in India.  Its core competencies include electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, manufacturing, functional testing and validation, environment testing and verification, and after sales support engineering services

The Company, in consultation with BRLM’s to the Offer, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, December 13, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended 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 to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the red herring prospectus dated December 03, 2021 (“RHP”) filed with the Registrar of Companies, Tamil Nadu at Chennai (“RoC”).

Profitable Multi-Channel Auto Platform CarTrade Tech Limited’s

Profitable Multi-Channel Auto Platform CarTrade Tech Limited’s
IPO to open on August 09, 2021

 

·       Price Band of Rs. 1,585 – Rs. 1,618 per equity share of face value of Rs. 10 each (“Equity Shares”)

·       Bid/Offer Opening Date – Monday, August 09, 2021 and Bid/Offer Closing Date – Wednesday, August 11, 2021

·       Minimum Bid Lot is 9 Equity Shares and in multiples of 9 Equity Shares thereafter

·        The Floor Price is 158.5 times the face value of the Equity Share and the Cap Price is 161.8 times the Face Value of the Equity Share

·       Led by Mr Vinay Vinod Sanghi who is the Chairman, Managing Director and CEO of the company

 

 

Risks to Investors: • The four BRLMs associated with the Offer have handled 36 public issues in the past three years, out of which 9 issues closed below the issue price on listing date. • The Price/Earnings ratio based on diluted EPS for Fiscal 2021 for the Company at the upper end of the Price band is 84.31.• Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 3.52%.• Average Cost of acquisition of Equity Shares for the Selling Shareholders, namely CMDB, Highdell, MacRitchie, Springfield, Bina Vinod Sanghi (Jointly held with Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Victor Anthony Perry III and Vinay Vinod Sanghi (jointly held with Seena Vinay Sanghi)  is ₹ 270.42, ₹ 454.82, ₹ 604.82, ₹567.59, ₹10.00, ₹14.29, ₹ 10.00, ₹ 301.71 and ₹ 61.54, respectively and the Offer Price at the upper end of the Price Band is ₹ 1,618 per Equity Share.

 

CarTrade Tech, a multi-channel auto platform via its several integrated brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and Auto Biz, is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, August 09, 2021 and close on Wednesday, August 11, 2021. The price band for the Offer has been determined at Rs. 1,585 – Rs. 1,618 per Equity Share.

The Offer will be an offer for sale of up to 18,532,216 Equity Shares (“Offer for Sale”) by the Selling Shareholders, namely, CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International, Bina Vinod Sanghi (Jointly Held with Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Victor Anthony Perry III, Vinay Vinod Sanghi (Jointly Held with Seena Vinay Sanghi). The Company will not receive any proceeds from the Offer.

 

The Company, the Major Shareholders and the Investor Selling Shareholders have, in consultation with the book running lead managers to the Offer (the “BRLMs”), considered participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Friday, August 06, 2021.

 

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not More than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders.

 

CarTrade Tech is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. The company’s platforms operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Through these platforms, CarTrade Tech enables new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner.

 

The company’s consumer platforms i.e. CarWale, CarTrade and BikeWale, collectively get 3.2 crore average unique visitors every month (during the 3 months period ending March 31 2021) and Shriram Automall and other auction platforms had 8,14,316 vehicles listed for auction during FY 2021.

 

CarTrade Tech was the only profitable digital auto platform for the financial year 2020 (Source: RedSeer Report). CarTrade Tech is profitable since FY 19.

 

The company generates revenues from commission and fees from auctions and remarketing services, online advertising solutions, lead generation, technology based services to OEMs/Dealers/Banks and other financial institutions and inspection and valuation services.

 

The company is led by Mr Vinay Vinod Sanghi who is the Chairman, Managing Director and CEO. Key management personnel include Aneesha Menon - Executive Director and Chief Financial Officer, Banwari Lal Sharma - Chief Executive Officer – Consumer Business, Sameer Malhotra - Chief Executive Officer of Shriram Automall, Akshay Shankar - Chief Product Officer – Group and Vikram Alva - Chief Strategy Officer – Group. It is backed by marquee institutional shareholders that include affiliates of Warburg Pincus, Temasek, JP Morgan and March Capital.

 

Axis Capital Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory and Securities (India) Private Limited are the BRLMs 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 dated July 28, 2021 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”).

 

 

Disclaimers: CARTRADE TECH LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of its equity shares bearing face value of Rs10 each (“Equity Shares”) and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs, i.e. Axis Capital Limited at www.axiscapital.co.in, Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, Kotak Mahindra Capital Company Limited at www.investmentbank.kotak.com and Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.com/company/group/asia /india/index.html. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see the section titled "Risk Factors" on page 22 of the RHP.

 

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered 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 U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) in the United States, to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act.

 

 

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 284 of the RHP for the full text of the disclaimer clause of SEBI.

 

DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 286 of the RHP for the full text of the disclaimer clause of the BSE.

 

DISCLAIMER CLAUSE OF NSE (Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 287 of the RHP for the full text of the disclaimer clause of NSE

 

Burger King India Limited Initial Public Offer

Burger King India Limited Initial Public Offer

Bid/ Offer period to open on Wednesday, December 2, 2020

 ·         Price band fixed at Rs 59 to Rs 60 per equity share of face value of Rs. 10 each

·         Bid/ Offer period to remain open from Wednesday, 2^nd  December, 2020 to Friday, 4^th December 2020

Burger King India Limited (the “Company’), one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants. (Source: Technopak), will open the Bid/ Offer period in relation to its initial public offer of equity shares of face value of Rs. 10 each (“Equity Shares” and such initial public offer, the “Offer”) on Wednesday, December 2, 2020. The Bid/ Offer period will close on Friday, December 4, 2020. The price band of the Offer has been fixed at Rs 59 to Rs 60per Equity Share.

The initial public offering comprises of a fresh issue of Equity Shares aggregating up to Rs. 4,500 million* by the company (“Fresh Issue”) and an offer for sale of up to 60,000,000 Equity Shares by QSR Asia Pte. Ltd. (“Promoter Selling Shareholder”) (“Offer for Sale”, and together with the fresh issue, “Offer”).

The company has undertaken a pre-ipo placement by way of a: (i) Rights Issue of 1,32,00,000 equity shares to the Promoter Selling Shareholder for cash at a price of Rs. 44 per equity share

aggregating to Rs. 580.80 million pursuant to the resolution of the board dated May 23, 2020; and (ii) Preferential allotment of 15,712,820 Equity Shares to AIL for cash at a price of Rs. 58.50 per equity share aggregating to Rs. 919.20 million, in consultation with the BRLMs, pursuant to the resolution of the board dated November 18, 2020. The size of the fresh issue of up to Rs. 6,000 million has been reduced by Rs. 1,500 million pursuant to the pre-IPO placement, and accordingly, the fresh issue size is up to Rs. 4,500 million.

Bids can be made for a minimum of 250 Equity Shares and in multiples of 250 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 (“SEBI ICDR Regulations”). This Offer is being made through the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that the Company and the Promoter Selling Shareholder in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. 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 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 QIB Bidders (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 Bidders 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 from them at or above the Offer Price. All Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID in case of RIBs, if applicable) which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA Process.

The Net Proceeds from the Fresh Issue are proposed to be utilised for funding roll out of new Company-owned Burger King Restaurants by way of: (i) Repayment or prepayment of outstanding borrowings of the Company obtained for setting up of new Company-owned Burger King Restaurants; and (ii) Capital expenditure incurred for setting up of new Company-owned Burger King Restaurants, and 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. For the purpose of the Offer, BSE is the Designated Stock Exchange.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited, 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 dated November 25, 2020 (“RHP”).