Puranik Builders IPO Subscription : IPO Date, Price, GMP, Review, Details

Puranik Builders IPO Subscription : IPO Date, Price, GMP, Review, Details

Company was incorporated as ‘Puranik Builders Private Limited’, a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated May 8, 1990 issued by the RoC. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on April 27, 2018 and the name of the Company was changed to its present name ‘Puranik Builders Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on May 10, 2018.

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The Puraniks Group is a leading real estate developer that has been providing comprehensive residential and commercial solutions across various categories for over four decades.

IPO

Corporate Identity Number: U99999MH1990PLC056451

Registered Office and Corporate Office:

PURANIK ONE, Near Kanchanpushpa Complex, Opposite Suraj Water Park, Kavesar, Ghodbunder Road, Thane (West) – 400 615

Contact Person:

Ritu Baheti, Company Secretary and Compliance Officer; Telephone: +91 22 2598 8888; E-mail: cs@puraniks.in; Website: www.puranikbuilders.com

The subsidiaries of our Company, in accordance with the Companies Act, 2013 and applicable accounting standards, whose financial statements are consolidated with that of our Company. Such entities are:

Subsidiaries under Companies Act, 2013:

1. Puranik Buildcon Private Limited;
2. Puranik Buildwell Private Limited;
3. Fortune Infracreators Private Limited;
4. SYNS Builders Private Limited;
5. Shree Riddhi Siddhi Vinayak Developers Private Limited;
6. NRP Real Estates Private Limited;
7. S.G.P Real Estates Private Limited;
8. SHP Real Estates Private Limited;
9. Y.G.P Realities Private Limited;
10. Ekdant Constructions and Developers Private Limited;
11. Puranik Constructions Private Limited* ; and
12. Swapnadhara Project Private Limited*

Subsidiaries under applicable accounting standards:

1. Annapurna Lifespaces LLP;
2. Sai Pushp Enterprises;
3. Sai Shiva Infra Developers;
4. Kaushalya Real Estates;
5. Puraniks Supreme Enterprises;
6. Puranik Megatowns;
7. Maitrey Builders and Developers; and
8. Sai Shraddha Developers.

Bid Amount

The highest value of the optional Bids as indicated in the Bid cum Application Form and payable by the Anchor Investor or as blocked in the ASBA Account of the ASBA Bidder, as the case may be, upon submission of the Bid in the Issue, as applicable, which shall be less Retail Discount for Retail Individual Investors.

The maximum Bid Amount under the Employee Reservation Portion by an Eligible Employee shall not exceed `500,000. However, the initial Allotment to an Eligible Employee in the Employee Reservation Portion shall not exceed `200,000. Only in the event of an under-subscription in the Employee Reservation Portion post the initial allotment, such unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of `200,000, subject to the total Allotment to an Eligible Employee not exceeding `500,000

Issue

The initial public offer of up to [●] Equity Shares of face value of `10 each for cash at a price of `[●] each aggregating up to `[●] million, consisting of:

(i) Fresh Issue of up to [●] Equity Shares aggregating up to `8,100 million;

(ii) Offer for Sale of up to 1,859,620 Equity Shares aggregating up to `[●] million by the Selling Shareholders.

The Issue, aggregating up to `[●] million, comprise a Net Issue to the public of up to [●] Equity Shares and an Employee Reservation Portion of up to [●] Equity Shares for subscription by Eligible Employees.

Our Company may, in consultation with the GCBRLMs, consider undertaking a private placement of Specified Securities for cash consideration aggregating up to `2,000 million. The Pre-IPO Placement, if undertaken, will be at a price to be decided by our Company in consultation with the GCBRLMs and the Pre-IPO Placement will be completed prior to filing of the Red Herring Prospectus with the RoC.

If the Pre-IPO Placement is undertaken, the amount raised from the PreIPO Placement will be reduced from the Fresh Issue, subject to the Issue size satisfying the minimum issue size requirements under the SCRR. Additionally, in the event the Pre-IPO Placement includes allotment of convertible securities of our Company, the same shall be converted into Equity Shares, prior to the registration of the Red Herring Prospectus.

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