Basis of Allotment

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(This is only an advertisement for information purpase and not a Prospectus announcements)

AKASH INFRA-PROJECTS LIMITED

Our Company was originally incorporated at Gandhinagar as "Akash Infra-Projects Private Limited" on May 14. 1999 under the provisions of the Companies Act 1956. Consequent upon the conversion of our Company to a Public Limited Company pursuanl to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on August 31, 2016 the name of our company was charged to "Akash Infra-Projects Limited" vide fresh Certificate of Incorporation dated September 27, 2016 was issued by the Registrar of Companies, Ahmedabad, Gujarat bearing Corporate Identification Number (CIN) U45209GJ1999PLC036005.

Registered office: 2 Ground Floor. Abhishek Complex. Opp. Hotel Havell,
Sector 11, Gandhinagar Gujerst 382011 India; Tel;- +91-2646-272490: Website: www.akashinfra.com
Company Secretary and Compliance Officer: Ms. Upasna A Patel: E-Mail: ipo@akashinfra.com
Promoters of the Company: Mr.Yoginkumar H Patel and Mr. Ambusinh P Gol.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 20,40.000 EQUITY SHARES OF RS 10/- EACH ("EQUITY SHARES") OF AKASH INFRA-PROJECTS LIMITED ("AIPL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS, 125/- PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS 2550.00 LACS ("THE ISSUE"), CONSISTING OF FRESH ISSUE OF 12,67,200 EQUITY SHARES AGGREGATING TO RS 1584.00 LAKHS AND AN OFFER FOR SALE OF 7,72.800 EQUITY SHARES AGGREGATING TO RS 966.00 LAKHS ("OFFER FOR SALE), COMPRISING OF 3,86,400 EQUITY SHARES BY MR. YOGINKUMAR PATEL AND 3.86,400 EQUITY SHARES BY MR. AMBUSINH GOL ("COLLECTIVELY REFERRED AS SELLING SHAREHOLDERS AND PROMOTERS") THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 19.32,000 EQUITY SHARES AGGREGATING TO RS 2415.00 LAKHS (THE "NET ISSUE") AND A RESERVATION OF 1,08,000 EQUITY SHARES AGGREGATING TO RS 135.00 LAKHS FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"),THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.88% AND 25.46%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated February 22, 2017 and as per Regulation 43 {A) of SEBI (ICDR) Regulations. 2009 wherein a minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies / institutions irrespective of no. of shares applied for.

Explanation; For the purpose of Regulation 43 (4) of SEBI (ICDR) Regulations. 2009, if the retail individual investor is entitled to more  than fifty percent, on proportionate basis, the retail individual Investors shall be allocated that higher percentage.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH AND THE ISSUE PRICE IS RS 125/- EACH INCLUDING A SHARE PREMIUM OF RS 115 PER EQUITY SHARE. THE ISSUE PRICE IS 12.5 TIMES OF THE FACE VALUE THE ISSUE OPENED ON FEBRUARY 28, 2017 (TUESDAY) AND CLOSED ON MARCH 6, 2017 {MONDAY).

The Equity Shares offered through the Prospectus are proposed to be listed on the Emerge ptatform of National Stock Exchange of India Limited. In terms, of the Chapter XB of the SEBI (ICDR) Regulations. 2009 as amended from time to time, the Company has received an In-Principle Approval letter dated February 20,2017 from the National Stock Exchange of India Limited ("NSE") for using its name in the offer document for listing of our Shares on the SME platform of National Stock Exchange of India Limited. The designated stock exchange is the National Stock Exchange of India Limited ('NSE').

SUBSCRIPTION DETAILS

Details of Applications:
The Issue has received 1859 applications (before technical rejections) for 37,79,000 Equity Shares (Including Market Maker Application of 1,08,000 Equily Shares) resulting 1.85 times subscription The details of the applications received In the Issue (before technical rejections) are as follows:
Details of the valid Applications Received (before Technical Rejections & Withdrawal of Application):

Category Number of Applications Number of Equity Shares Subscription Ratio
Market Makes 1 1,08,000 1.00 time
Other than Retail Individual 45 18,58,000 1.92 times
Investor's
Retail Individual Investors 1813 18,13,000 1.88 times
Total 1859 37,79,000 1.85 times

Out of total 25 applications received, 23 applications in Retail Individual Investor Category and 2 applications in Other than Retail Individual Investor Category were rejected on technical grounds. Further, there was no withdrawal of application in any of the category.

LLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on March 9. 2017.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 125/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1.08.000 Equity shares in full, out of reserved portion of 1,08,000 Equity Shares.

B. Allocation to Retail Individual Investors (After Technical Rejections &. Withdrawal, If any): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 125/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.85 times. Total number of shares allotted in this category is 9.66,000 Equity Shares as under;

No.of
Shanes
Applied for
(Category
wise)
No.of
Applications

 

 

% to
Total

 

Total No.
of Equity
Shares
applied

 

% of
total
Proportion
ate Shares
Available
Allocation
per
Applicant
(Before
Rounding off)
Allocation
per
Applicant
(After
Rounding off)
Ratio of
Allottees
to the
Applica
nts
Number of
Successful
Applicants
(After
Rounding Off)
% to
Total
Total No.
of Equity
Shares
allocated/
allotted
% to
Total

 

Surplus
/
(Deficit)

 

1000 1790 100.00 1790000 100.00 966000 539.66 1000 34:63 966 100.00 966000 100.00 0
Tolal 1790 100.00 1790000 100.00 966000 539.66 1000 34:63 966 100.00 966000 100.00 0

C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs 125/- per Equily Share, was finalized in consultation with NSE. The category was subscribed by 1.91 times. Total number of shares allotted in this category is 9.66.000 Equity Shares. The category wise basis of allotment is as under:

No.of
Shanes
Applied for
(Category
wise)
No.of
Applications

 

 

% to
Total

 

Total No.
of Equity
Shares
applied

 

% of
total

 

Proportion
ate Shares
Available

 

Allocation
per
Applicant
(Before
Rounding off)
Allocation
per
Applicant
(After
Rounding off)
Ratio of
Allottees
to the
Applica
nts
Number of
Successful
Applicants
(After
Rounding off)
% to
Total

 

Total No.
of Equity
Shares
allocated/
allotted
% to
Total

 

Surplus
/
(Deficit)

 

2000 4 9.30 800 0.43 4182 1045.45 1000 1:1 4 9.30 4000 0.41 -182
4000 3 6.98 12000 0.65 6273 2090.91 2000 1:1 3 6.98 6000 0.62 -273
8000 5 11.63 40000 2.16 20909 4181.82 4000 1:1 5 11.63 20000 2 07 -909
10000 1 2.33 10000 0.54 5227 5227.27 5000 1:1 1 2.33 5000 0 52 -227
12000 3 6.98 36000 1.95 18818 6272.73 6000 1:1 3 6.98 18000 1.86 -818
16000 1 2.33 16000 0.87 8364 8363.64 8000 1:1 1 2.33 8000 0.83 -364
20000 8 18.60 160000 8.66 83636 10454.55 10000 1:1 8 18.60 80000 8.28 -3636
1000 6:8 6 13.95 6000 0.62 6000
26000 1 2.33 26000 1.41 13591 13590.91 14000 1:1 1 2.33 14000 1.45 409
27000 2 4.65 54000 2.92 28227 14113.64 14000 1:1 2 4.65 28000 2.90 -227
32000 3 6.98 96000 5.19 50182 16727 27 17000 1:1 3 6.98 51000 5.28 818
40000 2 4.65 80000 4.33 41818 20909.09 21000 1:1 2 4.65 42000 4.35 182
60000 2 4.65 120000 6.49 62727 31363.64 31000 1:1 2 4.65 62000 6.42 -727
64000 1 2.33 64000 3.46 33455 33454.55 33000 1:1 1 2.33 33000 3.42 -455
80000 2 4.65 160000 8.66 83636 41818.18 42000 1:1 2 4.65 84000 8.70 364
100000 1 2.33 100000 5.41 52273 52272.73 52000 1:1 1 2.33 52000 5.38 -273
120000 2 4.65 240000 12.99 125455 62727.27 63000 1:1 2 4.65 126000 13.04 545
146000 1 2.33 146000 7.90 76318 76318.18 76000 1:1 1 2.33 76000 7.87 -318
480000 1 2.33 480000 25.97 250909 250909.09 251000 1:1 1 2.33 251000 25.98 91
Total 43 100.00 1848000 100.00 966000 43 100 00 966000 100.00 0

The Board of Directors of the Company at its meeting held on March 9, 2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares / dispatch of share certificates to various successful applicants.
The CAN-cum- Refund Orders and allotment advice and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before March 11. 2017. Further, the instructions to Seff Certified Syndicate Banks have been issued on or before March 10. 2317 for unblocking of funds. In case the same is not received within 10 days, investors may contact at the address given below. The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is taking steps to get the Equily Shares admitted for trading on the SME Platform of The National Stook Exchange of India Limited within Six working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before March 15. 2017 subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

INVESTOR PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Purva Sharegistry (India) Pvt. Ltd. at www.purvashare.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

PURVA SHAREGISTRV (INDIA) PVT, LTD.
Unit no, 9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Opp. Kasturba Hospital Lane,
Lower Parel (E), Mumbai 400 011
Tel No.: +91 22 2301 6761 / 8261
Fax No.: +91 22 2301 2517
Email id: purvashare@mtnl.net.in
Website: www.purvashare.com
Contact Person: Mr. V.B.Shah
SEBI Registration No. INR000001112

Place: Gandhinagar

Date: March 11, 2017

On Behalf of the Board of Directors
For Akash Infra-Projects Limited
Sd/-
Yoginkumar H Patel
Chairman & Managing Director
DIN: 00463335

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF AKASH INFRA-PROJECTS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

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