Prospectus
Dated: November 28, 2023
Fixed Price Issue
Please read Section 26 of the Companies Act, 2013
(Scan this code to view offer Document)
SHEETAL UNIVERSAL LIMITED
Corporate Identity Numbers: U51219GJ2015PLC084270
REGISTERED OFFICE | CORPORATE | CONTACT | TELEPHONE AND EMAIL | WEBSITE | ||||||||||||||||||||
OFFICE | PERSON | |||||||||||||||||||||||
Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring | - | Mrs. Khushbu | Mobile No: +91 9099302638 | www.sheetaluniversal.com | ||||||||||||||||||||
Road, Rajkot - 360005, Gujarat, India. | Kalpit Shah | Email Id:cs@sheetaluniversal.com | ||||||||||||||||||||||
PROMOTERS OF OUR COMPANY: MR. HIREN VALLABHBHAI PATEL AND MRS. KAJAL HIREN PATEL | ||||||||||||||||||||||||
DETAILS OF THE ISSUE | ||||||||||||||||||||||||
TYPE | FRESH ISSUE SIZE | OFS SIZE | TOTAL ISSUE SIZE | ELIGIBILITY | ||||||||||||||||||||
(BY NO. OF SHARES OR | ||||||||||||||||||||||||
(IN ₹ LAKHS) | ||||||||||||||||||||||||
BY AMOUNT IN ₹) | ||||||||||||||||||||||||
3400000 Equity Shares | 3400000 Equity Shares | THIS ISSUE IS BEING MADE IN TERMS OF | ||||||||||||||||||||||
Fresh Issue | aggregating to ₹ 2,380.00 | Nil | aggregating to ₹ | CHAPTER IX OF THE SEBI (ICDR) | ||||||||||||||||||||
Lakhs | 2,380.00 Lakhs | REGULATIONS, 2018 AS AMENDED. | ||||||||||||||||||||||
DETAILS OF OFFER FOR SALE, SELLING SHAREHOLDERS AND THEIR AVERAGE COST OF ACQUISITION: NOT APPLICABLE AS THE ENTIRE ISSUE
CONSTITUTES FRESH ISSUE OF EQUITY SHARES
RISK IN RELATION TO THE FIRST ISSUE
The face value of the Equity Shares is ₹ 10/- each and the Issue Price is 7.00 times of the face value of the Equity Shares. The Issue Price (determined and justified by our Company in consultation with the Lead Manager as stated in chapter titled "Basis for Issue Price" beginning on Page No. 90 should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
GENERAL RISKS
Investments in Equity and Equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their entire investment. Investors are advised to read the risk factors carefully before taking an investment decision in the Issue. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The Equity Shares issued in the Issue have not been recommended or approved by the Securities and Exchange Board of India ("SEBI"), nor does SEBI guarantee the accuracy or adequacy of the Prospectus. Specific attention of the investors is invited to the section titled "Risk Factors" beginning on Page No. 24 of this Prospectus.
ISSUER'S ABSOLUTE RESPONSIBILITY
Our Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Prospectus contains all information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Prospectus as a whole or any of such information or the expression of any such opinions or intentions, misleading in any material respect.
LISTING
The Equity Shares Issued through this Prospectus are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE EMERGE) in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited ("NSE").
LEAD MANAGER TO THE ISSUE
NAME AND LOGO | CONTACT PERSON | EMAIL & TELEPHONE |
Mr. Nikhil Shah | Email:mb@beelinemb.com | |
Tel. No: 079 4918 5784 | ||
Beeline Capital Advisors Private Limited | ||
REGISTRAR TO THE ISSUE | ||
NAME AND LOGO | CONTACT PERSON | EMAIL & TELEPHONE |
Mr. Vinayak Morbale | Email:ipo@bigshareonline.com | |
Tel. No: 022-62638200 | ||
Bigshare Services Private Limited | ||
BID/ISSUE PERIOD | ||
BID/ISSUE OPENS ON: MONDAY, DECEMBER 04, 2023
BID/ISSUE CLOSES ON: WEDNESDAY, DECEMBER 6, 2023
Prospectus
Dated: November 28, 2023
Fixed Price Issue
Please read Section 26 of the Companies Act, 2013
SHEETAL UNIVERSAL LIMITED
Corporate Identity Numbers: U51219GJ2015PLC084270
Our Company was originally incorporated as "Sheetal Universal Limited" as a Public Limited Company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated August 20, 2015, issued by the Assistant Registrar of Companies, Gujarat. The Corporate Identification Number of our Company is U51219GJ2015PLC084270. Registered Office is located at Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India. For details of change in name and registered office of our Company, please refer to chapter titled "History and Corporate Matters" beginning on page no. 155 of this Prospectus.
Registered Office: Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India.
Website: www.sheetaluniversal.comE-Mail:cs@sheetaluniversal.com; Telephone No: +919099302638 Company Secretary and Compliance Officer: Mrs. Khushbu Kalpit Shah
PROMOTERS OF OUR COMPANY: MR. HIREN VALLABHBHAI PATEL AND MRS. KAJAL HIREN PATEL
THE ISSUE
PUBLIC ISSUE OF 3400000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH OF SHEETAL UNIVERSAL LIMITED ("SHEETAL UNIVERSAL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO ₹ 2,380.00 LAKHS ("THE ISSUE"), OF WHICH UPTO 172000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH FOR CASH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE AGGREGATING TO ₹ 120.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF UPTO 3228000 EQUITY SHARES OF FACE VALUE OF ₹ 10/- EACH AT A PRICE OF ₹ 70 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF ₹ 60 PER EQUITY SHARE AGGREGATING TO ₹ 2,259.60 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 29.68% AND 28.18% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
THIS ISSUE IS BEING IN TERMS OF CHAPTER IX OF THE SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIERMENTS) REGULATIONS, 2018, AS AMENDED FROM TIME TO TIME. For further details, please refer chapter titled "Terms of The Issue" beginning on Page No. 225 of this Prospectus.
In terms of the SEBI Circular No. CIR/CFD/POLICYCELL/11/2015, dated November 10, 2015 and the all-potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process providing details about the bank account which will be blocked by the Self-Certified Syndicate Banks ("SCSBs") for the same. Further pursuant to SEBI circular bearing no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, for implementation of Phased II for UPI facility, which is effective from July 01, 2019, all potential Bidders (except Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts or UPI ID (in case of RIIs), in which the corresponding Application Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable. For details, please refer chapter titled "Issue Procedure" beginning on Page No. 233 of this Prospectus.
THE FACE VALUE OF THE EQUITY SHARES IS ₹ 10/- EACH AND THE ISSUE PRICE IS ₹ 70 THE ISSUE PRICE IS 7.00 TIMES OF THE FACE VALUE.
RISK IN RELATION TO THE FIRST ISSUE
This being the first Public Issue of our Company, there has been no formal market for the securities of our Company. The face value of the shares is ₹ 10/- per Equity Shares and the Issue price is 7.00 times of the face value. The Issue Price (as determined by our Company in consultation with the Lead Manager) as stated in the chapter titled "Basis for Issue Price" beginning on Page No. 90 of this Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the equity shares of our Company nor regarding the price at which the Equity Shares will be traded after listing.
GENERAL RISKS
Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this offering. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The Equity Shares offered in the Issue have neither been recommended nor approved by Securities and Exchange Board of India nor does Securities and Exchange Board of India guarantee the accuracy or adequacy of this Prospectus . Specific attention of the investors is invited to the section titled "Risk Factors" beginning on Page No. 24 of this Prospectus.
ISSUER'S ABSOLUTE RESPONSIBILITY
The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Prospectus contains all information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect.
LISTING
The Equity Shares offered through this Prospectus are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"), in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an In-Principle Approval letter dated October 30, 2023 from National Stock Exchange of India Limited ("NSE") for using its name in this offer document for listing our shares on the EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"). For the purpose of this Issue, the designated Stock Exchange is the NSE.
LEAD MANAGER | REGISTRAR TO THE ISSUE |
BEELINE CAPITAL ADVISORS PRIVATE LIMITED | BIGSHARE SERVICES PRIVATE LIMITED |
SEBI Registration Number: INM000012917 | SEBI Registration Number: INR000001385 |
Address: B/1311-1314, Shilp Corporate Park Near Rajpath Club, Rajpath Rangoli Road, | Address: Office No. S6-2, 6th Floor, Pinnacle business Park, Next to Ahura Center, |
S.G. Highway, Ahmedabad, Gujarat 380054. | Mahakali Caves Road, Andheri (East), Maharashtra-400093, India. |
Telephone Number: 079 4918 5784 | Tel. Number: 022-62638200 |
Email Id:mb@beelinemb.com | Fax- 022-62638299 |
Investors Grievance Id: ig@beelinemb.com | Email Id:ipo@bigshareonline.com |
Website:www.beelinemb.com | Investors Grievance Id:investor@bigshareonline.com |
Contact Person: Mr. Nikhil Shah | Website:www.bigshareonline.com |
CIN: U67190GJ2020PTC114322 | Contact Person: Mr. Vinayak Morbale |
CIN: U99999MH1994PTC076534 | |
BID/ISSUE PERIOD | |
BID/ISSUE OPENS ON: MONDAY, DECEMBER 04, 2023 | BID/ISSUE CLOSES ON: WEDNESDAY, DECEMBER 6, 2023 |
TABLE OF CONTENTS | |
PRESENTATION OF FINANCIAL, INDUSTRY AND MARKET DATA | 12 |
FORWARD LOOKING STATEMENTS | 13 |
SECTION II - SUMMARY OF PROSPECTUS | 14 |
SECTION III - RISK FACTORS | 24 |
SECTION IV - INTRODUCTION | 40 |
THE ISSUE | 40 |
SUMMARY OF FINANCIAL INFORMATION | 41 |
SECTION V - GENERAL INFORMATION | 42 |
SECTION VI - CAPITAL STRUCTURE | 49 |
SECTION VII - PARTICULAR OF THE ISSUE | 77 |
OBJECTS OF THE ISSUE | 77 |
BASIS FOR ISSUE PRICE | 90 |
STATEMENT OF POSSIBLE TAX BENEFITS | 98 |
SECTION VIII - ABOUT THE COMPANY | 101 |
INDUSTRY OVERVIEW | 101 |
BUSINESS OVERVIEW | 125 |
KEY INDUSTRY REGULATIONS | 146 |
HISTORY AND CORPORATE STRUCTURE | 155 |
OUR MANAGEMENT | 159 |
OUR PROMOTERS AND PROMOTERS GROUP | 174 |
OUR SUBSIDIARIES | 178 |
DIVIDEND POLICY | 180 |
SECTION IX - FINANCIAL STATEMENTS | 181 |
RESTATED FINANCIAL INFORMATION | 181 |
OTHER FINANCIAL INFORMATION | 182 |
MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF | |
OPERATIONS | 184 |
CAPITALIZATION STATEMENT | 193 |
SECTION X - LEGAL AND OTHER INFORMATION | 194 |
OUTSTANDING LITIGATIONS AND MATERIAL DEVELOPMENTS | 194 |
GOVERNMENT APPROVALS | 200 |
SECTION XI - INFORMATION WITH RESPECT TO GROUP COMPANIES / ENTITIES | 208 |
SECTION - XII - OTHER REGULATORY AND STATUTORY DISCLOSURES | 212 |
SECTION XIII - ISSUE RELATED INFORMATION | 225 |
TERMS OF THE ISSUE | 225 |
ISSUE STRUCTURE | 231 |
ISSUE PROCEDURE | 233 |
RESTRICTIONS ON FOREIGN OWNERSHIP OF INDIAN SECURITIES | 286 |
SECTION XIV - DESCRIPTION OF EQUITY SHARES AND TERMS OF THE ARTICLES OF | |
ASSOCIATION | 289 |
SECTION XV - OTHER INFORMATION | 304 |
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION | 304 |
DECLARATION | 306 |
SECTION I - GENERAL
DEFINITIONS AND ABBREVIATIONS
This Prospectus uses certain definitions and abbreviations which, unless the context otherwise indicates or implies, shall have the meaning as provided below. References to any legislation, act, regulation, rule, guideline or policy shall be to such legislation, act, regulation, rule, guideline or policy, as amended, supplemented or re- enacted from time to time.
The words and expressions used in this Prospectus but not defined herein, shall have, to the extent applicable, the meaning ascribed to such terms under the Companies Act, the SEBI ICDR Regulations, the SCRA, the Depositories Act or the rules and regulations made there under. Notwithstanding the foregoing, terms used in of the chapters titled "Industry Overview", "Key Industry Regulations", "Statement of Possible Tax Benefits", "Restated Financial Information", "Basis for Issue Price", "History and Corporate Structure", "Other Regulatory and Statutory Disclosures", "Outstanding Litigations and Material Developments" and "Description of Equity Shares and Terms of the Articles of Association" beginning on Page Nos. 101, 146, 98, 181, 90, 155, 212, 194 and 289, respectively, of this Prospectus shall have the meaning ascribed to such terms in such sections.
GENERAL AND COMPANY RELATED TERMS
Term | Description | ||||||||||||
"Sheetal | Universal", | "our | Sheetal Universal Limited, a public limited company, registered under the | ||||||||||
Company", | "we", | "us", | Companies Act, 2013 and having its registered office at Office No. 348, 2nd | ||||||||||
"our", "the Company", "the | Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India. | ||||||||||||
Issuer | Company" | or | "the | ||||||||||
Issuer" | |||||||||||||
Our Promoters | Mr. Hiren Vallabhbhai Patel and Mrs. Kajal Hiren Patel | ||||||||||||
Promoters' Group | Companies, individuals and entities (other than companies) as defined under | ||||||||||||
Regulation 2(1) (pp) of the SEBI (ICDR) Regulations, 2018 which is provided | |||||||||||||
in the chapter titled "Our Promoters and Promoter's Group" beginning on Page | |||||||||||||
No. 174 of this Prospectus. | |||||||||||||
COMPANY RELATED TERMS | |||||||||||||
Term | Description | ||||||||||||
Articles | / | Articles | of | Articles of Association of our Company. | |||||||||
Association/AOA | |||||||||||||
Audit Committee | The Audit Committee of the Board of Directors constituted in accordance with | ||||||||||||
Section 177 of the Companies Act, 2013. For details, please refer chapter titled | |||||||||||||
"Our Management" beginning on Page No. 159 of this Prospectus. | |||||||||||||
Auditor of our Company / | The Statutory Auditors of our Company, being V.V. Patel & Co., Chartered | ||||||||||||
Joint | Statutory Auditor | / | Accountants. | ||||||||||
Peer Review Auditor | The Peer Review Auditor of company, M/s N G S T and Associates, Chartered | ||||||||||||
Accountants holding a valid Peer Review certificate as mentioned in the section | |||||||||||||
titled "General Information" beginning on Page No. 42 of this Prospectus. | |||||||||||||
Bankers to the Company | To be updated on filing of Prospectus with RoC. | ||||||||||||
Board of Directors / Board / | The Board of Directors of Sheetal Universal Limited unless otherwise specified. | ||||||||||||
BOD | |||||||||||||
Companies Act | The Companies Act, 1956/2013 as amended from time to time. | ||||||||||||
CIN | Corporate | Identification | Number | of | our | Company | i.e., | ||||||
U51219GJ2015PLC084270. | |||||||||||||
CMD | The Managing Director of our company, being Mr. Hiren Vallabhbhai Patel | ||||||||||||
Chief | Financial | Officer | The Chief Financial officer of our Company, being Mr. Madhav Prabhudas | ||||||||||
(CFO) | Rajpopat. | ||||||||||||
Company | Secretary | and | The Company Secretary and Compliance Officer of our Company, being Mrs. | ||||||||||
Compliance Officer (CS) | Khushbu Kalpit Shah. | ||||||||||||
1 | P a g e
Term | Description | |||
Depositories Act | The Depositories Act, 1996, as amended from time to time | |||
DIN | Director Identification Number | |||
Equity Shares | Equity Shares of our Company of face value of ₹ 10/- each unless otherwise | |||
specified in the context thereof | ||||
Equity Shareholders | Persons / Entities holding Equity Shares of Our Company | |||
Executive Director(s) | "Executive Director" means a Whole Time Director as defined in clause (94) of | |||
section 2 of the Act" | ||||
Group Companies | Group Companies as defined under Regulation 2(1)(t) of the SEBI (ICDR) | |||
Regulations, 2018, Group companies shall include such companies (other than | ||||
our Promoters and Subsidiary) with which there were related party transactions | ||||
as disclosed in the Restated Financial Statements as covered under the applicable | ||||
accounting standards, and as disclosed under section titled "Information with | ||||
respect to Group Companies" beginning on Page No. 208 of this Prospectus. | ||||
Independent Director | A Non-executive & Independent Director as per the Companies Act, 2013 and | |||
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 | ||||
Indian GAAP | Generally Accepted Accounting Principles in India | |||
ISIN | INE04VX01019 | |||
Key Managerial Personnel / | The officer vested with executive power and the officers at the level immediately | |||
Key Managerial Employees | below the Board of Directors as described in the chapter titled "Our | |||
Management" beginning on Page No. 159 of this Prospectus. | ||||
Materiality Policy | The policy on identification of group companies, material creditors and material | |||
litigation, adopted by our Board on July 11, 2023 in accordance with the | ||||
requirements of the SEBI ICDR Regulations. | ||||
MD | Managing Director | |||
MOA/ | Memorandum | / | Memorandum of Association of our Company as amended from time to time | |
Memorandum | of | |||
Association | ||||
Non-Residents | A person resident outside India, as defined under FEMA | |||
Nomination and | The Nomination and Remuneration Committee of our Board of Directors | |||
Remuneration Committee | constituted in accordance with Section 178 of the Companies Act, 2013. For | |||
details, please refer chapter titled "Our Management" beginning on Page No. | ||||
159 of this Prospectus. | ||||
Non-Executive Director | A Director not being an Executive Director or an Independent Director. | |||
NRIs | / | Non-Resident | A person resident outside India, as defined under FEMA and who is a citizen of | |
Indians | India or a Person of Indian Origin under Foreign Outside India Regulations, | |||
2000. | ||||
Registered Office | Office No. 348, 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005, | |||
Gujarat, India. | ||||
Restated | Financial | The Restated Financial Information of our Company, which comprises the | ||
Statements | Restated Statement of Assets and Liabilities, the Restated Statement of Profit | |||
and Loss, the Restated Statement of Cash Flows, for the period ended August | ||||
31, 2023 and year ended on March 31, 2023, 2022 and 2021 along with the | ||||
summary statement of significant accounting policies read together with the | ||||
annexures and notes thereto prepared in terms of the requirements of Section 26 | ||||
of the Companies Act, the SEBI ICDR Regulations and the Guidance Note on | ||||
Reports in Company Prospectuses (Revised 2019) issued by the ICAI, as | ||||
amended from time to time. | ||||
ROC | / | Registrar | of | Registrar of Companies, Ahmedabad |
Companies | ||||
Stakeholders Relationship | The Stakeholders Relationship Committee of our Board of Directors constituted | |||
Committee | in accordance with Section 178 of the Companies Act, 2013. For details, please |
2 | P a g e
Term | Description |
refer chapter titled "Our Management" beginning on Page No. 159 of this | |
Prospectus. | |
Whole Time Director | "Whole-time director" includes a director in the whole-time employment of the |
(WTD) | company. |
ISSUE RELATED TERMS | |
Terms | Description |
Applicant | Any prospective investor who makes an application for Equity Shares in terms |
of this Prospectus | |
Abridged Prospectus | Abridged Prospectus means a memorandum containing such salient features of |
a Prospectus as may be specified by SEBI in this behalf | |
Acknowledgement Slip | The slip or document issued by the Designated Intermediary to an Applicant as |
proof of registration of the Application | |
Application Form | The Form in terms of which the applicant shall apply for the Equity Shares of |
our Company | |
Application Supported by | An application, whether physical or electronic, used by applicants to make an |
Blocked Amount / ASBA | application authorising a SCSB to block the application amount in the ASBA |
Account maintained with the SCSB. | |
ASBA Account | An account maintained with the SCSB and specified in the application form |
submitted by ASBA applicant for blocking the amount mentioned in the | |
application form. | |
ASBA Bid | A Bid made by an ASBA Bidder |
ASBA Form(s) | An application form, whether physical or electronic, used by ASBA Bidders |
Bidding through the ASBA process, which will be considered as the application | |
for Allotment in terms of the Prospectus | |
Allotment Advice | The note or advice or intimation of Allotment, sent to each successful Bidder |
who has been or is to be Allotted the Equity Shares after approval of the Basis | |
of Allotment by the Designated Stock Exchange. | |
Allotment | Issue of the Equity Shares pursuant to the Issue to the successful applicants |
Allottee | The successful applicant to whom the Equity Shares are being / have been |
issued | |
Basis of Allotment | The basis on which Equity Shares will be allotted to successful applicants under |
the Issue and which is described in 'Basis of allotment' under chapter titled | |
"Issue Procedure" beginning on Page No. 233 of this Prospectus. | |
Bankers to the Issue and | Axis Bank Limited |
Refund Banker | |
Bidding Centres | Centres at which the Designated Intermediaries shall accept the Application |
Forms i.e., Designated SCSB Branch for SCSBs, Specified Locations for | |
members of the Syndicate, Broker Centres for Registered Brokers, Designated | |
RTA Locations for RTAs and Designated CDP Locations for CDPs. | |
Bid cum Application Form | The form in terms of which the Bidder shall make a Bid, including an ASBA |
Form, and which shall be considered as the application for the Allotment of | |
Equity Shares pursuant to the terms of the Prospectus | |
Bid Lot | 2000 Equity Shares and in multiples of 2000 Equity Shares thereafter |
Bidder/ Applicants | Any prospective investor who makes a Bid pursuant to the terms of the |
Prospectus and the Bid cum Application Form and unless otherwise stated or | |
implied, includes an Anchor Investor | |
Business Day | Monday to Friday (except public holidays). |
3 | P a g e
Terms | Description | ||
Broker Centers | Broker Centers notified by the Stock Exchanges where investors can submit | ||
the Application Forms to a Registered Broker. The details of such Broker | |||
Centers, along with the names and contact details of the Registered Brokers are | |||
available on the websites of the Stock Exchange | |||
CAN or Confirmation of | The Note or advice or intimation sent to each successful Applicant indicating | ||
Allocation Note | the Equity which will be allotted, after approval of Basis of Allotment by the | ||
designated Stock Exchange | |||
Client Id | Client Identification Number maintained with one of the Depositories in | ||
relation to demat account | |||
Depository | A depository registered with SEBI under the SEBI (Depositories and | ||
Participants) Regulations, 2018. | |||
Demographic Details | The demographic details of the Applicants such as their Address, PAN, name | ||
of the applicant father/husband, investor status, occupation and Bank Account | |||
details | |||
Designated Date | The date on which amounts blocked by the SCSBs are transferred from the | ||
ASBA Accounts, as the case may be, to the Public Issue Account or the Refund | |||
Account, as appropriate, in terms of this Prospectus, after finalisation of the | |||
Basis of Allotment in consultation with the Designated Stock Exchange, | |||
following which the Board of Directors may Allot Equity Shares to successful | |||
Bidders in the Offer. | |||
Designated Intermediaries | The members of the Syndicate, sub-syndicate/agents, SCSBs, Registered | ||
Brokers, CDPs and RTAs, who are categorized to collect Application Forms | |||
from the Applicant, in relation to the Issue. | |||
Depository Participant | A Depository Participant as defined under the Depositories Act, 1996 | ||
DP ID | Depository Participant's Identity Number | ||
Draft Prospectus | The Draft Prospectus dated August 31, 2023 issued in accordance with Section | ||
26 of the Companies Act filed with the Emerge Platform of NSE under | |||
SEBI(ICDR) Regulations | |||
Eligible NRI | NRIs from jurisdictions outside India where it is not unlawful to make an issue | ||
or invitation under the Issue and in relation to whom this Prospectus constitutes | |||
an invitation to subscribe to the Equity Shares Allotted herein. | |||
Emerge Platform of NSE / | The Emerge Platform of NSE for listing of equity shares offered under Chapter | ||
NSE EMERGE | IX of the SEBI (ICDR) Regulations, 2018 which was approved by SEBI as an | ||
SME Exchange on September 27, 2011. | |||
Engagement Letter | The engagement letter dated May 16, 2023 between our Company and the LM | ||
Fraudulent Borrower | Fraudulent borrower as defined under Regulation 2(1) (lll) of the SEBI ICDR | ||
Regulations | |||
Fresh Issue | Fresh issue of 34,00,000 Equity Shares of ₹ 10/- each at ₹ 70 per Equity | ||
Shareincluding Share Premium of ₹ 60 per Equity Share aggregating to ₹ | |||
2,380.00 Lakhs by Sheetal Universal Limited. | |||
First Applicant | Applicant whose name appears first in the Application Form in case of a joint | ||
application form and whose name shall also appear as the first holder of the | |||
beneficiary account held in joint names or in any revisions thereof | |||
Foreign Portfolio Investor(s) | Foreign Portfolio Investor as defined under SEBI FPI Regulations | ||
/ FPIs | |||
"General | Information | The General Information Document for investing in public issues prepared and | |
Document" or "GID" | issued in accordance with the circular no. SEBI / HO / CFD / DIL1 / CIR / P / | ||
2020 / 37 dated March 17, 2020 and the circular no. SEBI / HO / CFD / DIL2 | |||
/ CIR / P / 2020 / 50 dated March 30, 2020, as amended by SEBI from time to | |||
time. | |||
4 | P a g e |
Terms | Description | ||
Issue Opening Date | The date on which the Issue opens for subscription. | ||
Issue Closing date | The date on which the Issue closes for subscription. | ||
Issue Period | The periods between the Issue Opening Date and the Issue Closing Date | ||
inclusive of both days and during which prospective Applicants may submit | |||
their application | |||
IPO | Initial Public Offering | ||
Issue / Issue Size / Public | The Public Issue of 34,00,000 Equity Shares of ₹ 10/- each at ₹ 70 per Equity | ||
Issue | Shares including Share Premium of ₹ 60 per Equity Share aggregating to ₹ | ||
2,380.00 Lakhs by Sheetal Universal Limited. | |||
Issue Price | The price at which the Equity Shares are being issued by our Company through | ||
this Prospectus, being ₹ 70 (including share premium of ₹ 60 per Equity Share). | |||
LM / Lead Manager | Lead Manager to the Issue, in this case being Beeline Capital Advisors Private | ||
Limited. | |||
Listing Agreement | Unless the context specifies otherwise, this means the SME Equity Listing | ||
Agreement to be signed between our company and the EMERGE Platform of | |||
National Stock Exchange of India Limited ("NSE EMERGE") | |||
Market Maker | The Market Maker to the Issue, in this case being Spread X Securities Private | ||
Limited. | |||
Market Making Agreement | The Agreement entered into between the Market Maker and our Company | ||
dated November 27, 2023. | |||
Net Proceeds | Proceeds of the Offer that will be available to our Company, i.e., gross proceeds | ||
of the Fresh Issue, less Offer expenses to the extent applicable to the Fresh | |||
Issue. | |||
NCLT | National Company Law Tribunal | ||
Net Issue | The Issue (excluding the Market Maker Reservation Portion) of 3228000 | ||
Equity Shares of ₹ 10/- each at ₹ 70 per Equity Share including share premium | |||
of ₹ 60 per Equity Share aggregating to ₹ 2,259.60 Lakhs by Sheetal Universal | |||
Limited. | |||
NPCI | NPCI, a Reserve Bank of India (RBI) initiative, is an umbrella organization for | ||
all retail payments in India. It has been set up with the guidance and support of | |||
the Reserve Bank of India (RBI) and Indian Banks Association (IBA). | |||
Non-Retail | Portion | The remaining portion of the Net Offer, after retails portion, being not more | |
including | Qualified | than 50% of the Net issue which shall be available for allocation to NRIIs in | |
Institution Buyers (NRII) | accordance with the SEBI ICDR Regulations. | ||
Net Proceeds | The Issue Proceeds less the Issue related expenses. For further details, please | ||
refer to the chapter titled "Objects of the Issue" beginning on page 77 of this | |||
Prospectus. | |||
Prospectus | The Prospectus, to be filed with the ROC containing, inter alia, the Issue | ||
opening and closing dates and other information. | |||
Public Issue Account | An Account of the Company under Section 40 of the Companies Act, 2013 | ||
where the funds shall be transferred by the SCSBs from bank accounts of the | |||
ASBA Investors | |||
Qualified | Institutional | The qualified institutional buyers as defined under Regulation 2(1)(ss) of the | |
Buyers / QIBs | SEBI ICDR Regulations. | ||
Refund Account | Account opened / to be opened with a SEBI Registered Banker to the Issue | ||
from which the refunds of the whole or part of the Application Amount, if any, | |||
shall be made. | |||
Registrar / Registrar to the | Registrar to the Issue being Bigshare Services Private Limited. | ||
Issue | |||
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Terms | Description | ||||||||||
Regulations | Unless the context specifies something else, this means the SEBI (Issue of | ||||||||||
Capital and Disclosure Requirements) Regulations, 2018. | |||||||||||
Retail | Individual | Investors | Individual investors (including HUFs applying through their Karta and Eligible | ||||||||
/(RII) | NRI Bidders) who applies or bids for the Equity Shares of a value of not more | ||||||||||
than ₹ 2,00,000/-. | |||||||||||
Retail Portion | The portion of the Net Offer being not less than 50% of the Net Equity Shares | ||||||||||
which shall be available for allocation to RIIs in accordance with the SEBI | |||||||||||
ICDR Regulations. | |||||||||||
Revision Form | The form used by the Applicant, to modify the quantity of Equity Shares or the | ||||||||||
Application Amount in any of their Application Forms or any previous | |||||||||||
Revision Form(s) QIB Applicant and Non-Institutional Applicant are not | |||||||||||
allowed to lower their Application Forms (in terms of quantity of Equity Shares | |||||||||||
or the Application Amount) at any stage. Retail Individual Bidders can revise | |||||||||||
their Application Forms during the Issue Period and withdraw their Application | |||||||||||
Forms until Issue Closing Date. | |||||||||||
Self-Certified | Syndicate | A Self Certified Syndicate Bank registered with SEBI under the SEBI (Bankers | |||||||||
Bank(s)/ SCSBs | to an Issue) Regulations, 1994 and offers the facility of ASBA, including | ||||||||||
blocking of bank account. A list of all SCSBs is available at | |||||||||||
https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes | |||||||||||
&intmId=35 | |||||||||||
Sponsor Bank | The Banker to the Offer registered with SEBI and appointed by our Company | ||||||||||
to act as a conduit between the Stock Exchanges and the NPCI in order to push | |||||||||||
the mandate collect requests and / or payment instructions of the Retail | |||||||||||
Individual Bidders into the UPI and carry out other responsibilities, in terms of | |||||||||||
the UPI Circulars. | |||||||||||
TRS | / | Transaction | The slip or document issued by the Designated Intermediary (only on demand), | ||||||||
Registration Slip | to the Applicant, as proof of registration of the Application Form. | ||||||||||
Underwriter | The Underwriter to the Issue, in this case being Beeline Capital Advisors | ||||||||||
Private Limited. | |||||||||||
Underwriting Agreement | The Agreement entered into between the Underwriter and our Company dated | ||||||||||
November 25, 2023 | |||||||||||
UPI | Unified payment Interface, which is an instant payment mechanism, developed | ||||||||||
by NPCI. | |||||||||||
UPI Circulars | The SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November | ||||||||||
1, 2018, SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/50 dated April 3, | |||||||||||
2019, SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, | |||||||||||
2019, SEBI Circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/85 dated July 26, | |||||||||||
2019, Circular number SEBI/HO/CFD/DCR2/CIR/P/2019/133 dated | |||||||||||
November 8, 2019, Circular number SEBI/HO/CFD/DIL2/CIR/P/2020/50 | |||||||||||
dated | March | 30, | 2020, | SEBI | circular | no. | |||||
SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated March 16, 2021, SEBI | |||||||||||
circular no. SEBI/HO/CFD/DIL2/CIR/P/2021/47 dated March 31, 2021, SEBI | |||||||||||
circular no. SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated June 2, 2021 and as | |||||||||||
amended pursuant to SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2022/51 | |||||||||||
April 20, 2022 and any subsequent circulars or notifications issued by SEBI in | |||||||||||
this regard and any subsequent circulars or notifications issued by SEBI in this | |||||||||||
regard. | |||||||||||
UPI ID | ID created on UPI for single-window mobile payment system developed by the | ||||||||||
NPCI. | |||||||||||
UPI Mandate Request | A request (intimating the Retail Individual Bidder by way of a notification on | ||||||||||
the Mobile App and by way of a SMS directing the Retail Individual Bidder to | |||||||||||
such Mobile App) to the Retail Individual Bidder initiated by the Sponsor Bank | |||||||||||
6 | P a g e |
Terms | Description |
to authorize blocking of funds on the Mobile App equivalent to Bid Amount | |
and Subsequent debit of funds in case of Allotment. | |
UPI Mechanism | The bidding mechanism that may be used by a RII to make a Bid in the Offer |
in accordance with the UPI Circulars. | |
UPI PIN | Password to authenticate UPI transactions. |
Wilful Defaulter | Wilful defaulter as defined under Regulation 2(1) (lll) of the SEBI ICDR |
Regulations. | |
Working Days | Till Application / Issue closing date: |
All days other than a Saturday, Sunday or a public holiday; | |
Post Application / Issue closing date and till the Listing of Equity Shares: | |
All trading days of stock exchanges excluding Sundays and bank holidays in | |
accordance with the SEBI circular no. SEBI/HO/CFD/DIL/CIR/P/2016/26 | |
dated January 21, 2016 and the SEBI circular number | |
SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 1, 2018. | |
TECHNICAL AND INDUSTRY RELATED TERMS | |
Term | Description |
AE | Advance Estimates |
AIBP | Accelerated Irrigation Benefit Programme |
BGREI | Bringing Green Revolution to Eastern India |
CA | Controlled Atmosphere |
Capex | Capital Expenditure |
CC | Cash Credit |
CCFI | Crop Care Federation of India |
CENTEGRO | Center for Environment and Agriculture |
CEPA | Comprehensive Economic Partnership Agreement |
DAC | Department of Agriculture and Cooperation |
DoLR | Department of Land Resources |
ECLGS | Emergency Credit Linked Guarantee Scheme |
EMDE | emerging markets and developing economies |
e-NAM | National Agriculture Market |
FaaS | Farming as a Service |
IQF | Individual Quick Freezing |
IWMP | Integrated Watershed Management Programme |
LIC | low-income countries |
LLPD | Lakh Litres Per Day |
MA | Modified Atmosphere |
MFP | Mega Food Parks |
MoWR,RD&GR | Ministry of Water Resources, River Development & Ganga Rejuvenation |
MSME | Micro, Small, and Medium Enterprises |
MT | Metric Ton |
NABARD | National Bank for Agriculture and Rural Development |
NFHS | National Family Health Survey |
NSO | National Statistical Office |
NSO | National Statistical Office |
OFWM | Farm Water Management |
PLISFPI | Production-Linked Incentive Scheme for Food Processing Industry |
7 | P a g e
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Sheetal Universal Ltd. published this content on 19 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2023 04:11:28 UTC.