SUBMITTED BY

ANURADHA DHANDE
ROLL NO. (06)
MBA – 2 YR
DIV (A)

SUBMITTED TO: PROF - SONALI BAGADE

Dr. D. Y. Patil Unitech Society's

Dr. D. Y. Patil Institute of Management & Research,
Sant Tukaram Nagar, Pimpri, Pune – 411018

In the partial fulfillment of the requirements for the subject

FINANCIAL SYSTEM IN INDIA, MARKET & SERVICES (306)

BATCH 2019 - 2020

 IPO (Initial public offer)

An initial public offering (IPO) refers to the process of offering shares of a private
corporation to the public in a new stock issuance. Public share issuance allows a company to
raise capital from public investors. The transition from a private to a public company can be
an important time for private investors to fully realize gains from their investment as it
typically includes share premiums for current private investors. Meanwhile, it also allows
public investors to participate in the offering.

A company planning an IPO will typically select an underwriter or underwriters. They will
also choose an exchange in which the shares will be issued and subsequently traded publicly.

 An initial public offering refers to the process of offering shares of a private

corporation to the public in a new stock issuance. 
 Companies must meet requirements by exchanges and the SEC to hold an initial
public offering.
 IPOs provide companies with an opportunity to obtain capital by offering shares
through the primary market.
 Companies hire investment banks to market, gauge demand, set the IPO price and
date, and more.
 An IPO can be seen as an exit strategy for the company’s founders and early
investors, realizing the full profit from their private investment.
 List out the recent IPO’S ( May be from last 5 year), shall contain –
 Name of the company
 IPO value
 Date & current share price

STUDY OF IPO’S

Following are some companies with IPO value, share price and etc…

Sr. No COMPANY NAME IPO VALUE DATE CURRENT SHARE

(Initial public PRICE
offer)

1 STERLING & WILSON 780.00 20-08-19 569.95

SOLAR

2 INDIAMART 973.00 04-07-19 1622.00

INTERMESH

3 NEOGEN CHEMICALS 0.00 08-05-19 315.35

4 METROPOLIS 880.00 15-04-19 1297.00

HEALTHCARE

5 RAIL VIKAS NIGAM 19.00 11-04-19 25.00

6 EMBASSY OFFICE 300.00 01-04-19 409.40

PARKS REIT

7 MSTC
(“Metal Scrap Trade
120.00 29-03-19 88.00
Corporation Limited”)

8 CHALET HOTEL 280.00 07-02-19 305.90

04-02-19
9 XELPMOC DESIGN 66.00 66.00
10 AAVAS FINANCIER 821.00 08-10-18 1,548.00

11 POLYCAB INDIA LTD. 538.00 16-04-2019 620.35

12 TCNS CLOTHING CO
TCNS CLOTHING CO. 716.00 30-07-18 646.00
LIMITED.

13 CREDITACCESS 422.00 23-08-18 601.85

GRAMEEN

14 AFFLE (INDIA) LTD. 745.00 08-0819 847.00

15 WONDER 89.00 06-08-2019 88.75

FIBROMATS LTD.
  REPORT ON INDIAMART WITH FULL DETAILS OF
IPO

 AFFLE INDIA LIMITED

 BACKGROUND OF AFFLE INDIA LIMITED

Incorporated in 2005, Affle (India) Limited is a mobile marketing firm offering a Consumer
and Enterprise Platforms. The platform is built to mitigate digital ad fraud, assisting
consumer privacy expectations and improve returns on marketing expenses by delivering
mobile ads.

The advertising agencies of business to consumer (B2C) companies uses the consumer
platform across different industries. The list of industries includes telecom, fin-tech, e-
commerce, retail, FMCG companies, and media.

Affle uses user-intent indicators based on transactional data, marketing attribution and
behavioural signals. Based on such information, the company predicts the likely interest of
the user. It keeps on updating the system based on data to improve consumer engagement and
enable consumer actions. The company runs the campaigns on data intelligence basis to drive
high volumes at an efficient price.

The company earns revenue from a cost per converted user (CPCU) basis. The conversion
can be based on the transaction (purchase a product or service) and consumer acquisition
model (acquire a new consumer). Besides, the company also earns revenue by engagement
and awareness type advertising.

Affle also provides end-to-end solutions by developing App, offering enterprise platform,
assisting offline e-commerce businesses in offline to online commerce. Microsoft has a
6.48% stake in the Singapore based Affle Holdings.

(i) Affle International, Singapore is the parent company of 13-year old Adtech company Affle
(India) Limited which is coming up with an IPO.

They are a global technology company with a proprietary consumer intelligence platform that
delivers consumer acquisitions, engagements and transactions through relevant Mobile
advertising (the “Consumer Platform”).

The “Consumer Platform” aims to enhance returns on marketing spend through delivering
contextual mobile ads and reducing digital ad fraud, while proactively addressing consumer
privacy expectations.

(ii) As of March 31, 2019, Affle Consumer Platform had approximately 2.02 billion
consumer profiles, of which approximately 571 million were in India, 582 million were in
Other Emerging Markets (which comprises Southeast Asia, the Middle East, Africa, and
others) and 867 million were in Developed Markets (which comprises North America,
Europe, Japan, Korea, and Australia).

During Fiscal 2019, the Affle Consumer Platform accumulated over 300 billion data points,
which power their prediction and recommendation algorithm.

HOW THEY DO EARN MONEY?

a) They primarily earn revenue from their Consumer Platform on a cost per converted user
(“CPCU”) basis, which comprises user conversions based on consumer acquisition and
transaction models.

The transaction model is usually in the form of a targeted user submitting a lead acquisition
form or purchasing a product or service after seeing an advertisement delivered by the Affle.

b) They also earn revenue from their Consumer Platform through awareness and engagement
type advertising, which comprises cost per thousand impressions (“CPM”), cost per
view (“CPV”) and cost per click (“CPC”) models. 

Industry they serve

Their products are used in e-commerce, fin-

tech, telecom, media, retail and FMCG companies, both directly and indirectly through
their advertising agencies

Asset Light Model

Their Consumer Platform business is asset-light and scalable as shown by the fact that
company’s employee benefit expenses, depreciation and amortization expenses, and other
expenses have remained relatively unchanged despite significant changes in our revenue in
the last three fiscal years.

Company Financials:

Summary of financial Information (Restated)

Particulars For the year/period ended (in Rs. 10 Lakhs)

31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14

Total Assets 935.85 580.31 486.89 539.05 288.71 141.01

 Summary of financial Information (Restated)

Particulars For the year/period ended (in Rs. 10 Lakhs)

Total Revenue 1,177.94 837.56 656.29 879.71 393.27 148.36

Profit After Tax 166.79 88.31 3.30 23.94 22.55 12.91

For Fiscal 2019 on a Proforma Basis, revenue from operations was ₹ 2,686.09 mn and profit after tax
was ₹ 517.90 mn

OBJECTS OF THE AFFLE INDIA LIMITED:

 The object of the Offer for Sale is to allow Affle Holdings to sell up to 4,953,020
Equity Shares held by it.
 Fresh issue up to 90 cr for the following purpose:
1. Funding the working capital requirements of our Company; and
2. General corporate purposes.

AFFLE INDIA LIMITED IPO DETAILS:

Open Date: Jul 29 2019

Close Date: Jul 31 2019

Total Shares: 6161073

Face Value: ₹ 10 Per Equity Share

Issue Type: book building

Issue Size: 459 Cr.

Lot Size: 20 Shares

 Issue Price: ₹ 740-745 Per Equity Share

Listing At: NSE,BSE

Listing Date: Aug 08 2019

IPO TENTATIVE DATE / TIMETABLE:

Bid/Offer Opens On Jul 29, 2019

Bid/Offer Closes On Jul 31, 2019

Finalisation of Basis of Allotment Aug 5, 2019

Initiation of Refunds Aug 6, 2019

Credit of Shares to Demat Acct: Aug 7, 2019

IPO Shares Listing Date: Aug 8, 2019

AFFLE IPO LISTING DATE:

Listing Date Thursday, August 8, 2019

BSE Script Code 542752

NSE Symbol AFFLE

Listing In B

ISIN INE00WC01019

Issue Price Rs 745 Per Equity Share

Face Value Rs 10 Per Equity Share

OFFER SIZE ALLOCATED:

QIB Portion: At least 75% of the offer;

Retail Portion: Not more than 10% of the offer

NII Portion: Not more than 15% of the offer

 BASIC ALLOTMENT PROCESS OF AFFLE INDIA LIMITED:

Our Company (as defined below) was incorporated as 'Tejus Securities Private Limited'
under the Companies Act, 1956, with a certificate of incorporation issued by the Registrar of
Companies, Maharashtra ("RoC") on August 18,1994 at Mumbai. Subsequently, the name of
our Company was charged to 'Affle (India) Private Limited' and a fresh certificate of
incorporation was issued by the RoC on September 29, 2006. Our Company was
subsequently converted to a public limited company and the name of our Company was
changed to our present name, i.e., 'Affle (India) Limited' and a fresh certificate of
incorporation consequent upon conversion was issued by the RoC on July 13, 2018. For
details of changes in the name and registered office address of our Company, see "History
and Certain Corporate Matters" on page 181 of the Prospectus dated August 1, 2019
("Prospectus").

 BASIS OF ALLOTMENT

Initial public offering of 6,161,073 equity shares of face value of rs. 10 each ("equity
shares") of affle (India) limited (our "company" or the "issuer") for cash at a price of rs. 745
per equity share including a share premium of rs. 735 per equity share (the "offer price"),
aggregating to rs. 4,590 million (the "offer") comprising a fresh issue of 1,208,053 equity
shares by our company aggregating to rs. 900 million (the "fresh issue") and an offer for sale
of 4,953,020 equity shares aggregating to rs. 3,690 million by affle holdings pte. Ltd. The
offer constitutes 24.2 % of the post-offer paid-up equity share capital of our company. The
face value of the equity share is rs. 10 each. The offer price is 74.5 times the face value of the
equity shares.

a) QIB Portion: At least 75% of the Offer

b) Retail Portion: Not more than 10% of the Offer
c) Non-Institutional Portion: Not more than 15% of the Offer
d) Offer Price: Rs. 745 Per Equity Shares of Face Value of Rs.10 each
e) Anchor Investor Offer Price : Rs. 745 Per Equity Shares
f) The Offer Price Is 74.5 Times The Face Value

 RISKS TO INVESTORS:
 The two Book Running Lead Managers associated with the Offer have
handled 21 public issues during the current financial year and two financial
 years preceding the current financial year, out of which 6 closed below the
issue price on listing date.
 The Price/Earnings ratio based on diluted EPS for fiscal 2019 for the
Company at the upper end of the Price band is as high as 108.44, on an
unconsolidated basis and 37.06 on a consolidated basis. The P/E of Nifty 50 as
on July 19, 2019 is 27.92.
 The average cost of acquisition per Equity Share for our Promoter Selling
Shareholder is Rs. 11.43 per Equity Share. The Offer Price at the upper end of
the Price Band is Rs. 745.

 BID/OFFER PROGRAMME
 BID/OFFER OPENED ON JULY 29, 2019 BID/OFFER CLOSED ON JULY 31,
2019
 ANCHOR INVESTOR BIDDING PERIOD WAS JULY 26, 2019

The Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules,
1957 ("SCRR") read with Regulation 41 of the Securities and Exchange Board of India (Issue
of Capital and Disclosure Requirements) Regulations, 2009 (the "SEBI Regulations"). This
Offer was made through the Book Building Process in accordance with Regulation 26(2) of
the SEBI Regulations, wherein at least 75% of the Offer is being Allotted on a proportionate
basis to Qualified Institutional Buyers ("QIBs"). The Company and the Promoter Selling
Shareholder, in consultation with the BRLMs, may allocated 60% of the QIB Portion to
Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of
which at least one-third was 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. Such number of Equity Shares
representing 5% of the Net QIB Portion (other than Anchor Investor Portion) was available
for allocation on a proportionate basis to Mutual Funds only.

The remainder of the Net QIB Portion was available for allocation on a proportionate basis to
QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids 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. If at least 75% of the Offer cannot be Allotted to QIBs, all the application
monies will be refunded/ unblocked forthwith. Further, not more than 15% of the Offer shall
was available for allocation on a proportionate basis to Non-Institutional Bidders and not
more than 10% of the Offer shall was available for allocation to Retail Individual Bidders in
accordance with the SEBI Regulations, subject to valid Bids being received from them at or
above the Offer Price. For details, see "Offer Procedure" on page 500 of Prospectus. The
bidding period for Anchor Investors opened and closed on Friday, July 26, 2019.
 The Company received a total of 28 Anchor Investor Application Forms from 15 Anchor
Investors for 3,014,120 Equity Shares. A total of 2,772,483 Equity Shares were allocated
under the Anchor Investor Portion.

The Issue received 281,888 Applications for 291,269,080 Equity Shares (before technical
rejections) resulting in 85.96 times (after excluding Anchor) subscription. The details of the
Applications received in the Issue from various categories are as under: (Before technical
rejections)

SR.NO. Category No. of No. of Equity Shares No. of times Amount (in Rs.)
Applications Shares Reserved as Subscribed
applied applied per
Prospectus

A Qualified 97 101,511,600 1,848,323 54.92 75,626,142,000

Institutions
Bidders
(excluding Anchor
Investors)

B Non-Institutional 639 183,317,080 924,160 198.36 136.571,218,000

Investors

C Retail Individual 281,152 6,440,400 616,107 10.45 4,798,730,000

Investors

Total 281,888 291,269,080 3,388,590 85.96 216,996,090,000

FINAL DEMAND:

A summary of the final demand as per the BSE and the NSE as on the Bid Closing Date at
different Bid prices is as under:

SR.NO. Bid Price Bids Quantity (%) To Total Cumulative % Cumulative

Total Total
 1
740 28,500 0.01 28,500 0.01
2
741 3,440 0.00 31,940 0.01
3
742 7,360 0.00 39,300 0.01
4
743 12,760 0.00 52,060 0.02
5
744 9,020 0.00 61,080 0.02
6
745 287,346,340 98.33 287,407,420 98.35
7
CUTOFF 4,829,680 1.65 292,237,100 100.00

TOTAL 292,237,100 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange,
being BSE on August 05, 2019

A. Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at cut- off or the
Issue Price of Rs. 745 per Equity Share was finalized in consultation with NSE. The category
has been subscribed to the extent of 10.23478 times. The total number of Equity Shares
Allotted in this category is 616,107 Equity Shares to 30,805 successful applicants. The
category-wise details of the Basis of Allotment are as under:

No. of Total No. of No. of Equity Total No. of

% of % of
Applications Equity Shares Shares Allotted Ratio Equity Shares
Category Total Total
Received applied per Bidder Allotted
20 263,165 95.58 5,263,300 83.47 20 161:1439 588,880
40 6.056 2.20 242,240 3.84 20 16:143 13,560
60 1 942 0.71 116,520 1.85 20 16:143 4,340
80 686 0.25 54,880 0.87 20 11:98 1,540
100 926 0.34 92,600 1.47 20 52:463 2,080
120 356 0.13 42,720 0 68 20 10 89 803
 140 315 0.11 44,100 0.70 20 1:9 703
160 120 0.04 19,200 0.30 20 13:120 260
180 72 0.03 12,960 0.21 20 1:9 16-3
200 323 012 64,600 102 20 36:323 720
220 47 0.02 10,340 0.16 20 5:47 100
240 86 0.03 20,640 0.33 20 5.43 203
260 1237 0.45 321,620 5.10 20 16:143 2,760
        1 7 : 1361 7  
TOTAL 275,331 100.00 6,305,720 100.00     616,107

Please Note : 1 additional Share shall be allotted to 7 Allottees from amongst 1361
Successful Applicants from the categories 40-260 (i.e. excluding successful applicants from
Category 20) in the ratio of 7 : 1361

B. Allotment to Non Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have Bid at the Issue Price of
Rs. 745 per Equity Share, was finalized in consultation with the BSE. This category has been
subscribed to the extent of 198.33875 times. The total number of Equity Shares Allotted in
this category is 924,160 Equity Shares to 409 successful applicants.

The category-wise details of the Basis of Allotment are as under (Sample):

Total No. of
No. of No. of Equity
% of Total No. of Equity % to Equity
Category Applications Shares Allotted per Ratio
Total Shares applied Total Shares
Received Bidder
Allotted

280 74 11.73 20,720 0.01 20 5: 74 100

300 23 3.65 6,900 0.00 20 2: 23 40
320 6 0.95 1,920 0.00 20 0 6 0
340 4 0.63 1,360 0.00 20 0 4 0
952000 1 0.16 952,000 0.52 4800 1 1 4,800
1006700 8 1.27 8,053,600 4.39 5076 1 1 40,608
1006720 1 0.16 1,006,720 0.55 5076 1 1 5,076
1073820 2 0.32 2,147,640 1.17 5414 1 1 10,828
1087200 1 0.16 1,087,200 0.59 5482 1 1 5,482
1100000 1 0.16 1,100,000 0.6C 5546 1 1 5,546
1220000 1 0.16 1,220,000 0.67 6151 1 1 6,151
1275160 1 0.16 1,275,160 0.70 6429 1 1 6,429
1342280 15 2.38 20,134,200 10.98 6768 1 1 101,520
1476500 39 6.18 57,583,500 31.42 7444 1 1 290,316
1480000 5 0.79 7,400,000 4.04 7462 1 1 37,310
1484000 8 1.27 11,872,000 6.48 7482 1 1 59,856
1516760 2 0.32 3,033,520 1.65 7647 1 1 15,294
1520000 1 0.16 1,520,000 0.83 7664 1 1 7,664
1530200 5 0.79 7,651,000 417 7715 1 1 38,575
1540260 3 0.48 4,620,780 2.52 7766 1 1 23,298
Total 631 100.00 183,296,740 100.00     924,160

C. Allotment to QIBs (Excluding the Anchor Investor and after Technical Rejections)

The Basis of Allotment to QIBs who have Bid at the Issue Price of Rs. 745 per Equity Share
has been done on a proportionate basis in consultation with the BSE. This category has been
subscribed to the extent of 54.92092 times of the QIB Portion. As per the SEBIICDR
Regulations, Mutual Funds were Allocated 5% of the Equity Shares of the QIB Portion
available i.e. 92,417 Equity Shares and other QIBs, including Mutual Funds, were Allocated
the remaining available 1,755,906 Equity Shares on proportionate basis. The total number of
Equity Shares allotted in the QIB category is 1,848,323 Equity Shares, which were allotted to
97 successful Applicants. The category-wise details of the Basis of Allotment are as under:

Category Fls/Banks Fll MFs ICs NBFC Others Total

QIB 495,357 425,981 277,294 13,745 0 635,946 1,848,323

D. Allotment to Anchor Investors

The Company in consultation with the BRLMs has Allocated 2,772,483 Equity Shares to 15
Anchor Investors who have applied through 28 applications Applications at the Anchor
Investor Issue Price of Rs. 745 per Equity Shares in accordance with the SEBI Regulations.
This represents 60 % of the QIB Category. The category-wise details of the Basis of
Allotment are as under:

Category Fls/Banks MFs ICs AIF FPI OTH Total

Anhcor - - 1,006,767 187,934 1,577,782 -

2,772,483

The Board of Directors of the Company at its meeting held on August 06, 2019 has approved
the Basis of Allotment of the Equity Shares approved by the Designated Stock Exchange,
being BSE and Allotted the Equity Shares to various successful Bidders. The Allotment
Advice-cum-Refund Intimations are being dispatched to the address of the investors as
registered with the depositories. Further, instructions to the Self Certified Syndicate Banks
for unblocking of funds and transfer to the Public Offer Account, as applicable have been
issued on August 05, 2019. The Equity Shares Allotted to the successful Applicants have
been credited on August 06, 2019 to their beneficiary accounts subject to validation of the
account details with the depositories concerned. In case the unblocking of funds or credit of
shares is not received within ten days, investors may contact the Registrar to the Offer at the
address given below. The Company has filed the listing application with BSE and NSE each
dated August 07, 2019. The Equity Shares are proposed to be listed on BSE and NSE and the
trading is expected to commence on August 08, 2019.
 REPORT ON TCNS CLOTHING CO. LIMITED
WITH FULL DETAILS OF IPO

 TCNS CLOTHING CO. LIMITED

 BACKGROUND OF TCNS CLOTHING CO. LIMITED

Incorporated in 1997, Delhi based TCNS Clothing Co. Limited is a company engaged in the
business of designing, manufacturing, marketing and retailing of branded apparels for
women. According to Technopak, as of November 2017, it was India's leading women's
branded apparel company in terms of the total number of exclusive brand outlets.

TCNS offers top-wear, bottom-wear, drapes, combo-sets and accessories etc., catering to the
varied wardrobe requirements of Indian women. Company's brand portfolio includes 3
brands:

1.) 'W' - A premiere brand targeted at women's casual and work wear requirements. 'W' has
been recognized as Most Admired Fashion Brand in category 'Women's Indian Wear' by
India Fashion Forum for 3 consecutive years between 2015 to 2017.

2.) Aurelia - A contemporary ethnic wear brand that grew in revenue at a CAGR of 70.82%
during 2013-17.

3.) Wishful - A premium occasion wears brand that grew in revenue at a CAGR of 66.66%
during 2013-17.

TCNS has established a diversified retail presence through multiple distribution channels
spread across 31 states and Union Territories. The company sells its products through:

• 465 exclusive brand outlets

• 1,469 large format store outlets

• 1,522 multi-brand outlets

• 6 exclusive outlets in Nepal, Mauritius, and Sri Lanka

It also sells its products through its website and other online retailers.

The company's total revenue for Fiscal 2018 was ₹8,491.57 million. It grew at 31.89%
CAGR between Fiscals 2016 and 2018. The comprehensive income and EBITDA was
₹977.67 million and ₹1,837.18 million, respectively, for Fiscal 2018.

TCNS has 3,086 employees on its payroll including a design team of 37 employees and retail
staff of 2,887 employees. The company also has 301 personnel engaged on a contractual
basis.
  COMPANY FINANCIALS:

Summary of financial Information (Restated Standalone)

Particulars For the year/period ended (in Rs. Million)

31-Mar-18 31-Mar-17 31-Mar-16 (Proforma)

Total Assets 5,763.59 4,258.04 3,087.843

Total Revenue 8,491.57 7,129.73 4,881.35

Profit After Tax 980.97 157.97 (414.96)

 OBJECTS OF THE TCNS CLOTHING IPO:

It is a pure OFS by the sale of up to 15,714,038 Equity Shares by the Selling Shareholders.
The Company will not receive any proceeds from the Offer and all the proceeds will go to the
Selling Shareholders.

 TCNS CLOTHING IPO DETAILS

Issue Open Jul 18, 2018 - Jul 20, 2018

Issue Type Book Built Issue IPO

Issue Size 15,714,038 Eq Shares of Rs 2

(aggregating up to Rs 1,125.13 Cr)

Offer for Sale 15,714,038 Eq Shares of Rs 2

(aggregating up to Rs [.] Cr)

Face Value Rs 2 Per Equity Share

Issue Price Rs 714 - Rs 716 Per Equity Share

Market Lot 20 Shares

 Min

Order Quantity 20 Shares

Listing At BSE, NSE

 TCNS CLOTHING IPO TENTATIVE DATE / TIMETABLE

Bid/Offer Opens On Jul 18, 2018

Bid/Offer Closes On Jul 20, 2018

Finalisation of Basis of Allotment Jul 25, 2018

Initiation of Refunds Jul 26, 2018

Credit of Shares to Demat Acct: Jul 27, 2018

IPO Shares Listing Date: Jul 30, 2018

 TCNS CLOTHING IPO LISTING DATE

Listing Date Monday, July 30, 2018

BSE Script Code 541700

NSE Symbol TCNSBRANDS

Listing In

ISIN INE778U01029

Issue Price Rs 716 Per Equity Share

Listing Date Monday, July 30, 2018
 Face Value Rs 2 Per Equity Share

 BASIC ALLOTMENT OF TCNS CLOTHING CO. LIMITED

Our Company was incorporated as "TCNS Clothing Co. Private Limited" on December 3,
1997, as a private limited company under the Companies Act 1956, at New Delhi, with a
certificate of incorporation granted by the Registrar of Companies. National Capital Territory
of Delhi and Haryana ("RoC"). On the conversion of our Company to a public limited
company pursuant to a resolution passed by our Shareholders on January 5, 2018, our name
was changed to "TCNS Clothing Co. Limited" and a fresh certificate of incorporation dated
january 19, 2018 was issued by the RoC. For details of changes in name and registered office
of our Company, see "History and Certain Corporate Matters" on page 120 of the prospectus
dated July 24, 2018 ("Prospectus").

 BASIS OF ALLOTMENT:

Initial public offering of 15,714,038 equity shares of face valuecf rs 2 each (the "equity
shares") of tcns clothing co. Limited (our "company"or the "company" or the "issuer") for
cash at a price of rs 716 per equity share (the "offer price") aggregating to rs 11,251.25
million (the ''offer") through an offer for sale by onkar singh pasricha, arvinder singh pasricha
(together, the "promoter selling shareholders"). Anant kumar daga, saranpreet pasricha, angad
pasricha, vijay kumar misra and amit chand (collectively, the "other selling shareholders")
and wagner limited ("wagner" or "investor selling shareholder", collectively with the
promoter selling shareholders and the other selling shareholders, the "selling shareholders"
and such offer, the "offer for sale"). The offer constitutes 25.63% of the post-offer paid-up
equity share capital of our company. For details of equity shares offered by each selling
shareholder, see "the offer" on page 48.

OFFER PRICE: RS 716 PER EQUITY SHARE OF FACE VALUE OF RS 2 EACH.

THE OFFER PRICE IS 358 TIMES THE FACE VALUE
ANCHOR INVESTOR OFFER PRICE: RS 716 PER EQUITY SHARE
  RISKS TO INVESTORS:

 The two merchant bankers associated with the offer have handled 29 issues in the
past three financial years, out of which 10 issues closed below the issue price on
listing date.
 Average cost of acquisition of equity shares for the selling shareholders is in the
range of rs 2.00 to rs 373.26 per equity share and the offer price at upper end of the
price band is rs 716 per equity share.
 Return on net worth for fiscal 2018, fiscal 2017 and fiscal 2016 was 22.74%, 5.60%
and (85.87%) respectively.

 BID/OFFER
 PROGRAMME OPENED ON JULY 18, 2018 | CLOSED ON JULY 20, 2018
 ANCHOR INVESTOR BID/OFFER PERIOD: JULY 17, 2018

The Offer has been made in terms of Rule 19(2)(b)(iii) of the Securities Contracts
(Regulation) Rules, 1957, as amended (the "SCRR"). It has been made in accordance with
Regulation 26(1) of the Securities and Exchange Board of india (Issue of Capital and
Disclosure Requirements) Regulations, 2009, as amended (the "SEBI ICDR
Regulations") through the Book Building Process, wherein not more than 50% of the offer
was made available for allocation on a proportionate basis to Qualified Institutional
Buyers ("QIBs") (the"QIB Category"), and our Company, the Promoter Selling
Shareholders and the Investor Selling Shareholder, in consultation with the BRLMs, have
allocated 60% of the QIB Category to Anchor investors (the "Anchor Investor Portion") on
a discretionary basis. One-third of the Anchor investor portion was reserved for domestic
Mutual Funds, subject to valid bids being received from domestic Mutual Funds, at or above
the price at which allocation was made to Anchor Investors, which price was determined by
the Company, the Promoter Selling Shareholders and the Investor Selling Shareholder in
consultation with the BRLMs. 5% of the QIB Category (excluding the Anchor investor
Portion) was made available for allocation on a proportionate basis to Mutual Funds only and
the remainder of the QIB Category was made 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. Further, not less than 15% of the Offer was
made available for allocation on a proportionate basis to Non-institutional Bidders and not
less than 35% of the Offer was made available for allocation to retail Individual Bidders in
accordance with the SEBI ICDR Regulations, subject to valid Bids beng received at or above
the Offer Price. All potential Bidders, other than Anchor Investors, were mandatorily
required 10 participate in the Offer through the Application Supported by Blocked
Amount ("ASBA") process by providing details of their respective bank account in which
the Bid Amounl will be blocked by the Self Certified Syndicate Banks. Anchor Investors
were not permitted to partiripate in the Anchor Investor Portion through ASBA Aprocess. For
details, see "Offier Procedure" on page 273 of the Prospectus.
 No. of Shares
No. of No. of
SI. Equity Reserved Amount
Category Applicatio times
No. Shares as per (Rs)
ns Subscribed
applied Prospectus
Retail
2,11,43,95,067.0
A Individual 78,305 29,52,380 54,99,914 0.54
0
Bidders
Non
1,15,46,42 8,26,72,34,600.0
B institutional 161 23,57,106 4.90
0 0
Bidders
Qualified
Institutional
4,24.66,72 30,40,61,71,520.
C Bidders 53 31,42,808 13.51
0 00
(Excluding
Anchors)
Anchor 3,85,04,90,480.0
D 33 53,77,780 47,14,210 1.14
Investors 0
6,23,43,30 44,63,82,91,667.
Total 78,552 1,57,14,038 3.97
0 00

The bidding for Anchor Investors opened and closed on July 17, 2018. The company received
33 applications from 24 Anchor investors (which included four mutual funds wheh applied
through a TOTAL OF THIRTEEN SCHEMES) FOR 53,77,780 EQUITY SHARES. THE
ANCHOR INVESTOR PRICE WAS FINALIZED AT RS 716 per Equity Share. A total of
47,14,210 shares were allocated under the Anchor Investor Portion aggregating to Rs
3,375.37 million. The Offer received 78,552 applications for 6,23,43,300 Equity Shares (prior
to technical rejections) resulting in 3.97 times subscription. The details of the applications
received in the Offer from various categories are as under (prior to technical rejections)

 Final Demand

A summary of the final demand as per the BSE and NSE as on the Bid/Offer Closing
Date at different Bid prices is as under.

SI. No Bid Price Bids Quantity (%) To Total Cumulative Total % Cumulative Total

1 714 13,880 0.02 13,880 0.02

2 715 9,740 0.02 23,620 0.04

3 716 5,46,51,320 94.21 5,46,74,940 94.25

4 CUTOFF 33,35,480 5.75 5,80,10,240 100.00

 100.00
TOTAL 5,80,10,420

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange,
being the BSE on July 25, 2018.
A. Allotment to Retail Individual Bidders (after technical rejections)
The Basis of Allotmentto the Retail Individual Bidders, who have bid at the Cut-Off Price or
at the Offer Price of  Rs 716 per Equity Share, was finalized it consultation with the BSE
This category has been subscribed to the extend of 0.53 times. The total number of Equity
Shares Allotted in Retail Category is 29,23,540 Equity Shares to 77,430 successful Retail
Individual Bidders. The category-wise details of the Basis of Allotment are as under;

CATEGOR NO. OF % OF TOTAL % TO NO. OF RATIO TOTAL

Y APPLICATION TOTA NO. TOTA EQUITY S NO. OF
S L OF L SHARES EQUITY
RECEIVED EQUITY ALLOTTE SHARES
SHARES D PER ALLOTTE
APPLIE APPLICAN D
D T

20 68,653 88.63 13,73,060 46.97 20 1:1 13,73,060

40 1,810 2.34 72,400 2.48 40 1:1 72,400

60 690 0.89 41,400 1.42 60 1:1 41,400

80 238 0.31 19,040 0.65 80 1:1 19,040

100 526 0.68 52,600 1.80 100 1:1 52,600

120 198 0.26 23760 0.81 120 1.1 23760

140 191 0.25 26740 0.91 140 1.1 26740

160 50 0.06 8000 0.27 160 1.1 8000

180 31 0.04 5580 0.19 180 1.1 5580

200 135 0.17 27000 0.92 200 1.1 27000

220 23 0.03 5060 0.17 220/ 1.1 5060

240 60 0.08 14400 0.49 240 1.1 14400
 260 4825 6.23 1254500 42.91 260 1.1 1254500
TOTAL 77430 100 292354 29,23,540
0

Unsubscribed portion of 25,76,374 Equity Shares were spilled over to QIB category and NIB
B. Allotment to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Price of
Rs 716 per Equity Share or above, was finalized in consultation with the BSE. The Non-
Institutional Category has been subscribed to the extent of 3.91 times. The total number of
Equity Shanes Allotted in this category is 2,951,654 Equity shares (including spilled over) to
155 successful Non-lnstilutional Bidders. The category-wise details of the Basis of Allotmenl
are as under (Sample)

NO. OF
TOTAL TOTAL NO.
EQUITY
NO. OF NO. OF OF
% OF % OF SHARES
CATEGORY APPLICATIONS EQUITY RATIO EQUITY
TOTAL TOTAL ALLOTTED
RECEIVED SHARES SHARES
PER
APPLIED ALLOTTED
APPLICANT

280 15 9.68 4,200 0.04 72 1:1 1,080

300 1 0.65 300 0.00 77 1:1 77
360 1 0.65 360 0.00 92 1:1 92
28000 1 0.65 28,000 0.24 7166 1:1 7,166
41580 1 0.65 41,880 0.36 10718 1:1 10,718
41900 1 0.65 41,900 0.36 10723 1:1 10,723
42000 1 0.65 42,000 0.36 10749 1:1 10,749
48680 1 0.65 48,880 0.42 12510 1:1 12,510
49300 1 0.65 49,300 0.43 12617 1:1 12,617
50000 1 0.65 50,000 0.43 12796 1:1 12,796
55860 2 1.29 1,11,720 0.97 14296 1:1 28,592
58640 1 0.65 58,640 0.51 15007 1:1 15,007
69620 2 1.29 1,39,640 1.21 17869 1:1 35,738
76240 1 0.65 76,240 0.66 19512 1:1 19,512
99160 1 0.65 99,160 0.86 25377 1:1 25,377
 100000 1 0.65 1,00,000 0.87 25592 1:1 25,592
115220 1 0.65 1,15,220 1.00 29488 1:1 29,488
128100 1 0.65 1,28,100 1.11 32784 1:1 32,734
139660 1 0.65 1,39,660 1.21 35742 1:1 35,742
174580 1 0.65 1,74,580 1.51 44679 1:1 44,679
200000 2 1.23 4,00,000 3.47 51185 1:1 1,02,370
202500 2 1.29 4,05,000 3.51 51825 1:1 1.03.650
290920 1 0.65 2,90,920 2.52 74454 1:1 74,454
300000 1 0.65 3,00,000 2.60 76777 1:1 76,777
600540 1 0.65 600,540 5.21 153693 1:1 1,53,693
698320 1 0.65 6,98,320 6.05 178717 1:1 1.78.717
991620 1 0.65 9,91,620 8.60 253780 1:1 2,53,730
1047480 4 2.58 41,89,920 36.33 268076 1:1 10,72,304
1396640 1 0.65 13,96,640 12.11 357435 1:1 3,57,435
TOTAL 181 100.00 1,15,33,280 100.00 29,51,654

Includes spillover of 594,548 Equity Shares from retail category Portion.

C. Allotment to QIBs (Excluding Anchor Investors)

Allotment to QIBS (Excluding Anchor investors), who have Bid at the Offer Pnce of Rs 716
per Equity Share or above, has been done on a proportionate basis in consultation with the
BSE. This category has been subscribed to the extent of 8.29 times of OIB Portion (Including
spill oven from Retail category). As per the SEBI ICDR Regulations, Mutual Funds were
Allotted 5% of the Equity Shares of QIB Portion available i.e. 256,232 Equity Shares
(Including spillover from Retail category) and Other QIBs, including Mutual Funds were
Allotted the remaining available Equity Shares i.e. 4,868,402 Equity Shares (Including
spillover from Retail category) on a proportionate basis. The total number of Equity Shares
Allotted in the QIB Portion is 51,24,634 Equity Shares, which were allotted to 53 successful
QIB Bidders. The category-wise details of the Basis of Allotment are as under

Category AIF Fls/Banks FPI/FII ICs MFS Others Total

QIB 0 96,652 18,94,459 37,049 6,67,355 24,29,119 51,24,634

Includes spillover of 1,981,826 from Retail category portion.

D. Allotment to Anchor Investors
The Company, the Promoter Selling Shareholders and the investor Selling Shareholder in
Consultation with the BRLMs, have allocated 47,14,210 Equity Shares to 24 Anchor
Investors at the Anchor Investor offer price of Rs 716 per Equity Share in accordance with
the SEBI ICDR Regulations. This represents 60% of the QIB Category

Category AIF Fls/Banhs FPI ICs MFs Oth Total

Anchor 1,39,680 - 28,93,670 1,96,520 14,85,340 - 47,14,210

The IPO Committee of the Company on July 26, 2018 has taken on record the Basis of
Allotment of Equity Shares as approved by the Designated Stock Exchange, being BSE and
has allotted the Equity Shares to various successful Bidders. The Allotment Advice and/or
notices are being dispatched to the address of the investors as registered with the depositories.
Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds,
transfer to Public Offer Account have been issued on July 25,2018 and payment to non-
Syndicate brokers have been issued on July 26,2018. In case the same is not received within
ten days, investors may contact the Registrar to the Offer at the address given below. The
Equity Shares Allotted to the successful Allottees have been uploaded on July 26, 2018 for
credit into the respective beneficiary accounts subject to validation of the account details with
the depositories concerned. The Company has filed the listing applications with BSE and
NSE on July 26, 2018. The Company has received listing and trading approvals from NSE
and BSE and the trading will commence on July 30, 2018.
All capitalised terms used and not specifically defined herein shall have the same meaning as
ascribed to them In the Prospectus.
 FPO ( FOLLOW – ON – PUBLIC OFFER)

A follow-on public offer (FPO) is the issuance of shares to investors by a public company
that is currently listed on a stock market exchange. An FPO is a stock issue of additional
shares made by a company that is already publicly listed and has gone through the IPO
process. FPOs are popular methods for companies to raise additional equity capital in
capital markets through an issue of stock.

FPO (Follow on Public Offer) is a process by which a company, which is already listed
on an exchange, issues new shares to the investors or the existing shareholders, usually
the promoters. FPO is used by companies to diversify their equity base.

Description:
 A company uses FPO after it has gone through the process of an IPO and decides to
make more of its shares available to the public or to raise capital to expand or pay off
debt.
List out the companies delisted from bse nse from last 5 years (min 10) with reasons.
  DELISTED

Delisting is the removal of a listed security from a stock exchange. The delisting of a security
can be voluntary or involuntary and usually results when a company ceases operations,
declares bankruptcy, merges, does not meet listing requirements, or seeks to become private.

 Delisting occurs when a stock is removed from a stock exchange

 Delisting usually means that a stock has failed to meet the requirements of the
exchange.

 The most common requirement is that of price; a price below $1 per share for an
extended period is not preferred for major indexes.

 The consequences of delisting are significant and some companies strenuously avoid
being delisted.

FOLLOWING IS THE LIST OF DELISTED COMPANY

SCRIPT CODE COMPANY DATE OF REASONS

NAME DELISTED
Trading Members of the Exchange
are hereby informed that the 188
companies (given in Annexure I)
1249 Terruzzi Fercalx 09-May-2018 that have remained suspended for
more than 6 months would be
delisted from the platform of the
Exchange, with effect from May 11,
2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Further, Trading
Members of the Exchange are
hereby informed that the 3
companies (given in Annexure II)
that have been compulsorily delisted
by NSE, would be delisted from the
platform of the Exchange, with
effect from May 11, 2018 pursuant
to order of the Delisting Committee
of the Exchange in terms of Rule
21(2) (b) of the Securities Contracts
(Regulation) Rules 1957
 ("Regulations"). Rule 21(2) (b) of
the Securities Contracts
(Regulation) Rules 1957, states that
"If the securities is delisted under
clause (1),... the said securities shall
be delisted from all recognized stock
exchanges". 1) As per SEBI
Delisting Regulations, 2009 the
following consequences of
compulsory delisting would apply to
the said companies: · The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. · Promoters of
these delisted companies will be
required to purchase the shares from
the public shareholders as per the
fair value determined by the
independent valuer appointed by the
Exchange, as mentioned in the
Public Notice to be issued shortly. ·
Further, in terms of Regulation 24 of
Delisting Regulations, the delisted
company, its whole-time directors,
promoters and group companies
shall be debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) As per SEBI circular
no.
SEBI/HO/CFD/DCR/CIR/P/2016/81
dated September 7, 2016, till the
time promoters of the Company
provide an exit option to the public
shareholders in terms of value
determined by the Valuer, the
following consequences of
compulsory delisting would also
apply: · Non-transferability of any
of equity shares by the Company, by
way of sale, pledge, etc., of any of
the equity shares. · Freezing of
equity shares and corporate benefits
thereof held by the promoters/
promoter group. · The promoters
and whole-time directors of the
Company shall not be eligible to
become directors of any listed
company. 3) These companies
 would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI.
scrip_code:522080
co_name:Terruzzi Fercalx India Ltd
Trading Members of the Exchange
are hereby informed that the 210
companies (given in Annexure I)
that have remained suspended for
more than 6 months would be
delisted from the platform of the
1383 Triumph Intl. 02-Jul-2018 Exchange, with effect from July 4,
2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Further, Trading
Members of the Exchange are
hereby informed that the 6
companies (given in Annexure II)
that have been compulsorily delisted
by NSE, would be delisted from the
platform of the Exchange, with
effect from July 4, 2018 pursuant to
order of the Delisting Committee of
the Exchange in terms of Rule 21(2)
(b) of the Securities Contracts
(Regulation) Rules 1957
("Regulations"). Rule 21(2) (b) of
the Securities Contracts
(Regulation) Rules 1957, states that
"If the securities is delisted under
clause (1),... the said securities shall
be delisted from all recognized stock
exchanges". 1) As per SEBI
Delisting Regulations, 2009 the
following consequences of
compulsory delisting would apply to
the said companies: · The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. · Promoters of
these delisted companies will be
required to purchase the shares from
the public shareholders as per the
fair value determined by the
independent valuer appointed by the
 Exchange, as mentioned in the
Public Notice to be issued shortly. ·
Further, in terms of Regulation 24 of
Delisting Regulations, the delisted
company, its whole-time directors,
promoters and group companies
shall be debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) As per SEBI circular
no.
SEBI/HO/CFD/DCR/CIR/P/2016/81
dated September 7, 2016, till the
time promoters of the Company
provide an exit option to the public
shareholders in terms of value
determined by the Valuer, the
following consequences of
compulsory delisting would also
apply: · Non-transferability of any
of equity shares by the Company, by
way of sale, pledge, etc., of any of
the equity shares. · Freezing of
equity shares and corporate benefits
thereof held by the promoters/
promoter group. · The promoters
and whole-time directors of the
Company shall not be eligible to
become directors of any listed
company. 3) These companies
would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI. Companies being
compulsorily delisted w.e.f July 4,
2018 in terms of Rule 21(2)(b) of
the Securities Contracts
(Regulations) Rules, 1957. Note:
*Delisted by NSE pursuant to
liquidation. As per the guidance
received from SEBI, the
consequences stated in Regulation
24 of the SEBI Delisting
Regulations, 2009, would be
applicable based on the date of
Winding-up order / Liquidation
order from concerned Registrar of
Companies / Official Liquidator
(OL). ANNEXURE - I Companies
being compulsorily delisted w.e.f.
 July 4, 2018 Scrip Code:532131
Company Name:Triumph
International Finance India Ltd
Trading Members of the Exchange
are hereby informed that the 188
companies (given in Annexure I)
2197 Tirupati Fibres 09-May-2018 that have remained suspended for
more than 6 months would be
delisted from the platform of the
Exchange, with effect from May 11,
2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Further, Trading
Members of the Exchange are
hereby informed that the 3
companies (given in Annexure II)
that have been compulsorily delisted
by NSE, would be delisted from the
platform of the Exchange, with
effect from May 11, 2018 pursuant
to order of the Delisting Committee
of the Exchange in terms of Rule
21(2) (b) of the Securities Contracts
(Regulation) Rules 1957
("Regulations"). Rule 21(2) (b) of
the Securities Contracts
(Regulation) Rules 1957, states that
"If the securities is delisted under
clause (1),... the said securities shall
be delisted from all recognized stock
exchanges". 1) As per SEBI
Delisting Regulations, 2009 the
following consequences of
compulsory delisting would apply to
the said companies: · The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. · Promoters of
these delisted companies will be
required to purchase the shares from
the public shareholders as per the
fair value determined by the
independent valuer appointed by the
Exchange, as mentioned in the
Public Notice to be issued shortly. ·
Further, in terms of Regulation 24 of
 Delisting Regulations, the delisted
company, its whole-time directors,
promoters and group companies
shall be debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) As per SEBI circular
no.
SEBI/HO/CFD/DCR/CIR/P/2016/81
dated September 7, 2016, till the
time promoters of the Company
provide an exit option to the public
shareholders in terms of value
determined by the Valuer, the
following consequences of
compulsory delisting would also
apply: · Non-transferability of any
of equity shares by the Company, by
way of sale, pledge, etc., of any of
the equity shares. · Freezing of
equity shares and corporate benefits
thereof held by the promoters/
promoter group. · The promoters
and whole-time directors of the
Company shall not be eligible to
become directors of any listed
company. 3) These companies
would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI.
scrip_code:503876
co_name:Tirupati Fibres &
Industries Ltd
Trading Members of the Exchange
are hereby informed that the 188
companies (given in Annexure I)
2229 Techtran Poly. 09-May-2018 that have remained suspended for
more than 6 months would be
delisted from the platform of the
Exchange, with effect from May 11,
2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Further, Trading
Members of the Exchange are
hereby informed that the 3
companies (given in Annexure II)
that have been compulsorily delisted
by NSE, would be delisted from the
platform of the Exchange, with
effect from May 11, 2018 pursuant
to order of the Delisting Committee
of the Exchange in terms of Rule
21(2) (b) of the Securities Contracts
(Regulation) Rules 1957
("Regulations"). Rule 21(2) (b) of
the Securities Contracts
(Regulation) Rules 1957, states that
"If the securities is delisted under
clause (1),... the said securities shall
be delisted from all recognized stock
exchanges". 1) As per SEBI
Delisting Regulations, 2009 the
following consequences of
compulsory delisting would apply to
the said companies: · The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. · Promoters of
these delisted companies will be
required to purchase the shares from
the public shareholders as per the
fair value determined by the
independent valuer appointed by the
Exchange, as mentioned in the
Public Notice to be issued shortly. ·
Further, in terms of Regulation 24 of
Delisting Regulations, the delisted
company, its whole-time directors,
promoters and group companies
shall be debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) As per SEBI circular
no.
SEBI/HO/CFD/DCR/CIR/P/2016/81
dated September 7, 2016, till the
time promoters of the Company
provide an exit option to the public
shareholders in terms of value
determined by the Valuer, the
following consequences of
compulsory delisting would also
apply: · Non-transferability of any
of equity shares by the Company, by
way of sale, pledge, etc., of any of
 the equity shares. · Freezing of
equity shares and corporate benefits
thereof held by the promoters/
promoter group. · The promoters
and whole-time directors of the
Company shall not be eligible to
become directors of any listed
company. 3) These companies
would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI.
scrip_code:523455
co_name:Techtran Polylenses Ltd
Trading Members of the Exchange
are hereby informed that the
undermentioned 28 companies that
2522 Transpower Engg 21-Aug-2017 have remained suspended for more
than 10 years and are "under
liquidation" would be delisted from
the platform of the Exchange, with
effect from August 23, 2017
pursuant to order of the Delisting
Committee of the Exchange in terms
of Securities and Exchange Board of
India (Delisting of Equity Shares)
Regulations, 2009 ("Regulations").
As per SEBI Delisting Regulations,
2009 the following consequences of
compulsory delisting would apply to
the said companies: The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. Further, in terms of
Regulation 24 of Delisting
Regulations, the delisted company,
its whole-time directors, promoters
and group companies shall be
debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting.
Trading Members of the Exchange
are hereby informed that the
undermentioned 36* companies that
have remained suspended for more
2583 Trackparts of(I) 18-Jan-2017 than 13 years would be delisted
from the platform of the Exchange,
with effect from January 20, 2017
 pursuant to order of the Delisting
Committee of the Exchange in terms
of Securities and Exchange Board of
India (Delisting of Equity Shares)
Regulations, 2009 ("Regulations").
SCRIP CODE 530373 NAME OF
THE COMPANY Trackparts of
India Ltd. Consequences of
compulsory delisting. 1) As per
SEBI Delisting Regulations, 2009
are:- The securities of these
companies would cease to be listed
and therefore not be available for
trading on the platform of the
Exchange. Also, in terms of
Regulation 24 of Delisting
Regulations, the delisted company,
its whole-time directors, promoters
and group companies shall be
debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) Further, these
companies would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI.
Trading Members of the Exchange
are hereby informed that the 188
companies (given in Annexure I)
that have remained suspended for
2886 Techno Forge 09-May-2018 more than 6 months would be
delisted from the platform of the
Exchange, with effect from May 11,
2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Further, Trading
Members of the Exchange are
hereby informed that the 3
companies (given in Annexure II)
that have been compulsorily delisted
by NSE, would be delisted from the
platform of the Exchange, with
effect from May 11, 2018 pursuant
to order of the Delisting Committee
of the Exchange in terms of Rule
21(2) (b) of the Securities Contracts
 (Regulation) Rules 1957
("Regulations"). Rule 21(2) (b) of
the Securities Contracts
(Regulation) Rules 1957, states that
"If the securities is delisted under
clause (1),... the said securities shall
be delisted from all recognized stock
exchanges". 1) As per SEBI
Delisting Regulations, 2009 the
following consequences of
compulsory delisting would apply to
the said companies: · The securities
of these companies would cease to
be listed and therefore not be
available for trading on the platform
of the Exchange. · Promoters of
these delisted companies will be
required to purchase the shares from
the public shareholders as per the
fair value determined by the
independent valuer appointed by the
Exchange, as mentioned in the
Public Notice to be issued shortly. ·
Further, in terms of Regulation 24 of
Delisting Regulations, the delisted
company, its whole-time directors,
promoters and group companies
shall be debarred from accessing the
securities market for a period of 10
years from the date of compulsory
delisting. 2) As per SEBI circular
no.
SEBI/HO/CFD/DCR/CIR/P/2016/81
dated September 7, 2016, till the
time promoters of the Company
provide an exit option to the public
shareholders in terms of value
determined by the Valuer, the
following consequences of
compulsory delisting would also
apply: · Non-transferability of any
of equity shares by the Company, by
way of sale, pledge, etc., of any of
the equity shares. · Freezing of
equity shares and corporate benefits
thereof held by the promoters/
promoter group. · The promoters
and whole-time directors of the
Company shall not be eligible to
become directors of any listed
 company. 3) These companies
would be moved to the
Dissemination Board of the
Exchange for a period of 5 years as
directed by SEBI.
scrip_code:522142 co_name:Techno
Forge Ltd
Trading Members of the Exchange
are hereby informed that the
undermentioned 28 companies that
have remained suspended for more
than 3 years and whose status on the
MCA website is reflected as "under
liquidation / liquidated" would be
delisted from the platform of the
2910 Temptation Foods 28-Feb-2018 Exchange, with effect from March
05, 2018 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity Shares) Regulations, 2009
("Regulations"). Scrip Code 519228
Company Name Temptation Foods
Ltd As per the provisions of SEBI
Delisting Regulations, 2009, the
securities of these companies would
cease to be listed and therefore not
be available for trading on the
platform of the Exchange. · As these
companies are under liquidation /
liquidated, in terms of guidance
received from the Securities and
Exchange Board of India, the
provisions of Regulation 24 of the
SEBI Delisting Regulations 2009
enumerated below, would not apply
to the companies / promoters /
whole time directors of these
companies, if the date of the
appointment of provisional
liquidator or the order of winding up
is prior to the date of compulsory
delisting. Regulation 24: "Where a
company has been compulsorily
delisted under this Chapter, the
company, its whole time directors,
its promoters and the companies
which are promoted by any of them
shall not directly or indirectly access
the securities market or seek listing
 for any equity shares for a period of
ten years from the date of such
delisting.
2926 04-Jan-2016 Sub: Delisting of Companies
Torrent Cables Trading Members of the Exchange
are hereby informed that the under
mentioned scrip codes of the
companies which have been
suspended due to Amalgamation,
De-recognition of Regional Stock
Exchange, Suspended Permitted
scrips that have been listed under
new code, etc., will be delisted with
effect from January 08, 2016 (DR-
194/2015-2016): Scrip Code No.
523856 Name of the Company
Torrent Cables Ltd. ISIN No.
INE859B01027 Reasons
Amalgamation of Torrent Cables
Limited with Torrent Power Ltd
Trading Members of the Exchange
are hereby informed that the
3055 Teknomin Aqua 16-Aug-2016 undermentioned 194companies that
have remained suspended for more
than 13 years would be delisted
from the platform of the Exchange,
with effect from Wednesday August
17, 2016 pursuant to order of the
Delisting Committee of the
Exchange in terms of Securities and
Exchange Board of India (Delisting
of Equity shares) Regulations, 2009
("Regulations"). Scrip Code 526065
Company Name TEKNOMIN
AQUA EXPORTS (INDIA) LTD. It
may further be noted that the
consequences of compulsory
delisting would include the
following:- · The securities of these
companies would cease to be listed
and therefore not be available for
trading on the platform of the
Exchange. · These companies would
be moved to the Dissemination
Board of the Exchange for a period
of 5 years as directed by SEBI. ·
Promoters of these delisted
companies will be required to
purchase the shares from the public
shareholders as per the fair value
 determined by the Independent
Valuer appointed by the Exchange,
as mentioned in the Public Notice to
be issued shortly.