As part of the IPO, Red Herring Prospectus of Majestic Research Services and Solutions Ltd (Offer Document) has been approved by SEBI and issued publicly on 24th of this month. This Red Herring Prospectus of Majestic Research Services IPO has been made available in PDF format. The Company was originally incorporated as “Majestic Research Services and Solutions Private Limited” at Bangalore, Karnataka, as a private limited company. The Red Herring Prospectus has a total of 340 pages. In our previous post, you can download all latest Public Issue RHP Documents and also Green Signal Bio Pharma IPO details.
Draft Red Herring Prospectus of Majestic Research IPO
The Prospectus document has been compressed so that it consumes very little data to download.
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Contents of the Majestic Research Services Red Herring Prospectus
In the Red Herring Prospectus issued to SEBI, the most important information is the financial position of the company.
The information presented in the Red Herring Prospectus below relating to Majestic Research is based on the Standalone for Financial Year 2014, 2015, 2016 and for the period ended June 30, 2016 and Consolidated Restated Financial Statements for Financial Year 2015, 2016 and for the period ended June 30, 2016 prepared in accordance with Indian GAAP. Some of the quantitative factors, which form the basis for computing the price, are as follows:
As per our restated Standalone Summary Statements:
Restated earnings per share have been computed as per AS 20. The earnings per share has been computed by dividing net profit as restated, attributable to equity shareholders by restated weighted average number of equity shares outstanding during the period / year. The face value of each Equity Share is Rs. 10/-.
About the Company from the Red Herring Prospectus
Our Company was originally incorporated as ―Majestic Research Services and Solutions Private Limited‖ at Bengaluru, Karnataka, as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated May 2, 2012 bearing registration number 063818 issued by Registrar of Companies, Karnataka, Bangalore.
Subsequently, our Company was converted in to a public limited company pursuant to Special Resolution passed by the Company at its Extra Ordinary General Meeting held on July 10, 2014 and fresh certificate of incorporation dated August 11, 2014 was issued and the name of our Company was changed to ‘Majestic Research Services and Solutions Limited‘’.
Further Majestic Research Services came out with Initial Public Offer in the year 2015 and got listed to SME exchange of BSE Ltd. on July 16, 2015. The corporate identity number of our Company is L72200KA2012PLC063818.
Our Company is the subsidiary of Majestic Market Research Support Services Limited also referred hereinafter as the Parent Company.
Majestic Market Research Support Services Limited , Rajendra Kumar Sharma and Sarang Jayant Panchal are the promoters of our Company. Sandip Bhatia and Naina Krishna Murthy were the initial subscribers to the Memorandum of Association of our Company.
Subsequently the shares of Sandip Bhatia were transferred to Rajendra Kumar Sharma, and the shares of Naina Krishna Murthy were transferred to Rajendra Kumar Sharma, Harish Singh, Mani Singh Kalsi, Sarang Jayant Panchal and Sagar Bait.
Majestic Research IPO : Promoters Details from Red Herring Prospectus
The promoters of our Company are Rajendra Kumar Sharma, Sarang Jayant Panchal and Majestic Market Research Support Services Limited. For details, see Our Promoter and Promoter Group‖ beginning on page 174 of this Red Herring Prospectus.
Majestic Research IPO : Independent Audit Report from Red Herring Prospectus
The Audit Report of Majestic Research has been signed by CA Bankim Jain, on behalf of his firm R T Jain & Co. This Audit report can be found on page no 180 of the Red Herring Prospectus.
Conflicts of interest may arise out of common business undertaken by Corporate Promoter of Majestic Reserach IPO
Our Corporate Promoter, Majestic MRSS Limited, deals in the similar business activities as that of our Company. As a result, conflicts of interests may arise in allocating business opportunities amongst our Company and Corporate Promoter, in circumstances where our respective interests diverge. In cases of conflict, our Promoter may favour itself over our Company.
There can be no assurance that our Promoter will not compete with our existing business or any future business that we may undertake or that their interests will not conflict with ours. Any such present and future conflicts could have a material adverse effect on our reputation, business, results of operations and financial condition.
For further details of business activities of Majestic Market Research Support Services Limited, please refer to the chapters titled ―Our Promoters and Promoter Group‖ and Our History and Certain other Corporate Matters beginning on page 174 and 150 of this Red Herring Prospectus, respectively.
The above are from the extracts of the Red Herring Prospectus issued by Majestic Research Services and Solutions Ltd.
- 1 Draft Red Herring Prospectus of Majestic Research IPO
- 2 About the Company from the Red Herring Prospectus
- 3 Majestic Research IPO : Promoters Details from Red Herring Prospectus
- 4 Majestic Research IPO : Independent Audit Report from Red Herring Prospectus
- 5 Conflicts of interest may arise out of common business undertaken by Corporate Promoter of Majestic Reserach IPO