| (This is only
an advertisement for information purpose and not a prospectus announcement.)
BRIGHT SOLAR LIMITED
The Corporate Identification Number of our Company is
U51109GJ2010PLC060377
Our Company was originally incorporated as "Bright Solar Private Limited" at
Ahmedabad on April 23,2010, under the provisions of the Companies Act, 1956 vide
Certificate of Incorporation issued by the Assistant Registrar of Companies, Gujarat,
Dadra and Nagar Havelli. Consequently Upon the conversion of our Company into public
limited company, the name of our Company was changed to "Bright Solar Limited"
and fresh Certificate of Incorporation dated January 29,2018
was issued by the Assistant Registrar of Companies, Ahmedabad. The Corporate
Identification Number of our Company is US 1109GJ2010PLC060377.
Registered Office: C-1103,Titanium Square, Thaltej
Circle, S.G. Highway.Thaltej, Ahmedabad-380059. Gujarat; E-Mail: Compliance@brightsolar.co.in Company
Secretary and Compliance Officer: Mr. Sahul Jotaniya; Tel No.:-+91 - 79
-4892 6868; Website: www.brightsolar.in
PROMOTER OF THE COMPANY:MR. PIYUSHKUMAR BABUBHAI THUMAR
BASIS OF ALLOTMENT
BRIGHT SOLAR LIMITED - SME IPO
PUBLIC ISSUE OF 54,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF
BRIGHT SOLAR LIMITED ("BRIGHT" OR THE 'COMPANY" OR THE ISSUER") FOR
CASH AT A PRICE OF RS 36 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 26 PER EQUITY
SHARE (THE "ISSUE PRICE1') AGGREGATING TO RS 1944.00 LAKH ("THE ISSUE1"),
OF WHICH 2,70.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 36
PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 26 PER EQUITY SHARE AGGREGATING TO RS
97.20 LAKH 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 51,30,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH AT A PRICE OF RS 36 PER
EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 26 PER EQUITY SHARE AGGREGATING TO RS 1846,80
LAKH IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE", THE ISSUE AND THE NET ISSUE WILL
CONSTITUTE 26.47% AND 25.15% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL
OF OUR COMPANY.
In terms of Prospectus dated June 14, 2018 and as per Regulation 43 (4) 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 and (b) The balance net offer of
shares to the public shall be made available for allotment to i) individual applicants
other than retail individual investors and ii) other investors including corporate bodies
or institutions, irrespective of number of specified securities applied for. c) The
unsubscribed portion in either of the categories specified in (a) or (b) above may be
allocated to the applicants in the other category.
Explanation: For the purpose of Regulation 45 (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 A EACH AND THE
ISSUE PRICE IS RS 36/-EACH INCLUDING ASHARE PREMIUM OF 26/- PER EQUITY SHARE. THE ISSUE
PRICE IS 3.6 TIMES OF THE FACE VALUE.
ISSUE OPENED ON TUESDAY, JUNE 26, 2018 AND CLOSED ON
FRIDAY, JUNE 29, 2018.
The Equity Shares offered through the Prospectus are proposed to be listed on Emerge
Platform of National Stock Exchange of India Limited ("NSE Emerge") In terms of
the Chapter XB of the SEBI (ICDR) Regulations. 2009, as amended from time to time, our
Company has received in principle approval letter dated May 29,2018 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. For the purpose of this Issue, the designated Stock Exchange will be the National
Stock Exchange of India Limited.
SUBSCRIPTION DETAILS
Details of Applications:
The Issue has received 1247 applications (before Technical Rejections) for 7338000 Equity
Shares (Including Market Maker Application of 270000 Equity Shares) resulting 1.359 times
subscription. The details of the applications received in the Issue (before technical
rejections) are as follows:
Details of the valid Applicaations Received (before Technical Rejections &
Withdrawal of Application):
| Category |
Number of Applications |
Number of Equity Shares |
Subscription Ratio |
| Market Makers |
1 |
270000 |
1.000 times |
| Other than Retail Individual Investor's |
30 |
3420000 |
1.333times |
| Retail Individual Investor's |
1216 |
3648000 |
1.422times |
| Total |
1247 |
7333000 |
Overall |
1.359 times |
Total 21 applications received in Retail Individual Investors Category for 63,000
equity shares and 1 application received in Other than Retail Individua
Investors Category for 48,000 equity shares were rejected on technical grounds .Further,
there was no withdrawal of application in any of the category.
Allocation: The Basis, of Allotment was finalized in consultation with
the Designated Stock Exchange-National Stock Exchange of India Limited on July 4,2018.
A. Allocation to Market Maker (After Technical Rejections & Withdrawal):
The Basis of Allotment to the Market Maker, at the issue price of Rs 36/- per Equity
Share, was finalized in consultation with NSE. The category was subscribed by 1.000 times.
The total number of shares allotted in this category is 270000 Equity shares in full, out
of reserved portion of 270000 Equity Shanes.
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 36/- per Equity Share, was finalized in consultation with NSE.
The category was subscribed by 1.355 times. Total number of shares allotted in this
category is 2646000 Equity Share as under:
No. of Shares
Applied
for
(Category wise) |
No. of
Appli cations
Recei ved |
%
to
Total |
Total No. of
Equity
Shares applied |
%
to
Total |
Proporti
onate
Shares
Avail
able |
Allocation
per
Applicant
(before
Rounding
off) |
Allocation
per
Applicant
(after Rounding
off) |
Ratio
of Allottees
to the
Appli
cants |
Serial Number
of
Qualify
ing appli
cants |
Number
of Succe
ssful
Applica
nts (After
Round
ing off) |
%
to
Total
|
Total No.
of Equity
Shares
allocated/
allotted |
%
to
Total |
No. of
Shares
Surplus/
(Deficit)
|
| 3000 |
1195 |
100.00 |
3585000 |
100.00 |
2646000 |
2214.23 |
3000 |
31:42 |
1,3,4,5,6,8.9,10,11,12. 13,14,15,17,18,21,22,
24,26,27,28,29,30,31, 34,35,36,37,39,40,41 |
882 |
100.00 |
2646000 |
100.00 |
0 |
| Total |
1195 |
100.00 |
3585000 |
100.00 |
2646000 |
|
|
|
|
882 |
100.00 |
2646000 |
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 36/- per Equity Share, was finalized in consultation with NSE. The category was
subscribed by 1.357 times. Total number of shares allotted in this category is 2484000
Equity Shares. The category wise basis of allotment is as under:
No. of Shares
Applied
for
(Category wise) |
No. of
Appli cations
Recai ved |
%
to
Total |
Total No. of
Equity
Shares applied |
%
to
Total |
Proporti
onate
Shares
Avail
able |
Allocation
per
Applicant
(before
Rounding
off) |
Allocation
per
Applicant
(after Rounding
off) |
Ratio
of Allottees
to the
Appli
Cants |
Serial Number
of
Qualify
ing appli
cants |
Number
of Succe
ssful
Applica
nts (After
Round
ing off) |
%
to
Total
|
Total No.
of Equity
Shares
allocated/
allotted |
%
to
Total |
Surplus/
(Deficit)
(Round
ded off) |
| 6000 |
6 |
20.69 |
36000 |
1.07 |
26520 |
4419.93 |
3000.00 |
1:1 |
|
6 |
20.69 |
18000 |
0.73 |
-8520 |
|
|
|
|
|
|
0.00 |
3000.00 |
1:2 |
1 |
0 |
0.00 |
9000 |
0.36 |
9000 |
| 9000 |
3 |
10.34 |
27000 |
0.80 |
19890 |
6629.89 |
6000.00 |
1:1 |
|
3 |
10.34 |
18000 |
0.73 |
-1890 |
|
|
|
|
|
|
0.00 |
3000.00 |
1:3 |
1 |
0 |
0.00 |
3000 |
0.12 |
3000 |
| 15000 |
4 |
13.79 |
60000 |
1.78 |
44199 |
11049.82 |
9000.00 |
1:1 |
|
4 |
13.79 |
36000 |
1.45 |
-8199 |
|
|
|
|
|
|
0.00 |
3000.00 |
3:4 |
1,2,3 |
0 |
0.00 |
9000 |
0.36 |
9000 |
| 21000 |
1 |
3.45 |
21000 |
0.62 |
15470 |
15469.75 |
15000.00 |
1:1 |
|
1 |
3.45 |
15000 |
0.60 |
-470 |
| 27000 |
2 |
6.90 |
54000 |
1.60 |
39779 |
19889.68 |
18000.00 |
1:1 |
|
2 |
6.90 |
36000 |
1.45 |
-3779 |
|
|
|
|
|
|
0.00 |
3000.00 |
1:2 |
1 |
0 |
0.00 |
3000 |
0.12 |
3000 |
| 3000 |
2 |
6.90 |
60000 |
1.78 |
44199 |
22099.64 |
21000.00 |
1:1 |
|
2 |
6.90 |
42000 |
1.69 |
-2199 |
|
|
|
|
|
|
0.00 |
3000.00 |
1:2 |
1 |
0 |
0.00 |
3000 |
0.12 |
3000 |
| 63000 |
1 |
3.45 |
63000 |
1.87 |
46409 |
46409.25 |
48000.00 |
1:1 |
|
1 |
3.45 |
48000 |
1.93 |
1591 |
| 75000 |
1 |
3.45 |
75000 |
2.22 |
55249 |
55249.11 |
54000.00 |
1:1 |
|
1 |
3.45 |
54000 |
2.17 |
-1249 |
| 90000 |
1 |
3.46 |
90000 |
2.67 |
66299 |
66298.93 |
66000.00 |
1:1 |
|
1 |
3.45 |
66000 |
2.66 |
-299 |
| 201000 |
1 |
3.46 |
201000 |
5.95 |
148068 |
148067.62 |
147000.00 |
1:1 |
|
1 |
3.45 |
147000 |
5.92 |
-1068 |
| 276000 |
1 |
3.45 |
276000 |
8.19 |
203317 |
203316.73 |
204000.00 |
1:1 |
|
1 |
3.45 |
204000 |
8.21 |
683 |
| 279000 |
1 |
6.90 |
558000 |
16.55 |
411053 |
205526.69 |
204000.00 |
1:1 |
|
2 |
6.90 |
408000 |
16.43 |
-3053 |
|
|
|
|
|
|
0.00 |
3000.00 |
1:2 |
1 |
0 |
0.00 |
3000 |
0.12 |
3000 |
| 300000 |
1 |
3.45 |
300000 |
8.90 |
220997 |
220996.44 |
222000.00 |
1:1 |
|
1 |
3.45 |
222000 |
8.94 |
1003 |
| 303000 |
1 |
3.45 |
303000 |
8.99 |
223206 |
223206.41 |
222000.00 |
1:1 |
|
1 |
3.45 |
222000 |
8.94 |
-1206 |
| 555000 |
1 |
3.45 |
555000 |
16.46 |
408843 |
408843.42 |
408000.00 |
1:1 |
|
1 |
3.45 |
408000 |
16.43 |
-843 |
| 693000 |
1 |
3.45 |
593000 |
20.55 |
510502 |
510501.78 |
510000.00 |
1:1 |
|
1 |
3.45 |
510000 |
20.53 |
-502 |
| Total |
29 |
100.00 |
3372000 |
100.00 |
2484000 |
|
|
|
|
29 |
100.00 |
2484000 |
100.00 |
0 |
The Board of Directors of the Company at. its meeting held on July 5. 2018 has
taken on record the Basis of Al location 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/or notices are being dispatched to the
address of the Applicants as registered with the depositories / as filled in the
application form. Further, the instructions to Sell Certified Syndicate Banks were being
processed on or before July 06.2018. In case the same is not received within 10 days,
investors- may contact at the address given below. The Equity Shares allocated to
successlul applicants are being credited to their benehiciary accounts subject to
validation of the account details with the depositories concerned. The Company is taking
steps to get the Equity Shares admitted for trading on the SME Platform of the National
Stock Exchange of India Limited within Six workinp dsys from the date of the closure of
the Issue.The trading is proposed to be commenced on Monday, July 9,2018 Subject to
receipt of final listing and trading approvals, from the National Stock Exchange of India
Limited.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar
to the Issue. Alankit Assignments Limited at www.alankit.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:
ALANKIT ASSIGNMENTS LIMITED
Address: Alankit Heights, 1E/13. Jhandewalan Extension, New Delhi-110
055.
Tel No.: 011-4254 1234; 2354 1234 (B), 011-4254
1952/1954 (D),
Fax No.: 011 -4154 3474;
Website: www.alankit.com; Email
Id: ipo@alankit.com,
Investors Grievance Id: bsl_igr@alankit.com
SEBI Registration Number; INR000002532:
Contact Person: Mr. Pankaj Goenka/ Mr. BojimanKh; |
On behalf of the Board of Directors
For, BRIGHT SOLAR LIMITED
Sd/-
Piyushkumar Babubhai Thumar
Chairman & Managing Director
DIN:02785269 |
| Date : July 5, 2018 PIace : Ahmedabad |
THE LEVEL OF SUBSCRIPTION SHOULD MOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARES ON
LISTING OR THE BUSlNESS PROSPECTS OF BRIGHT SOLAR LIMITED.
Note: All capitalized terms used and not defined herein shall have the
respective meanings assigned to them in the Prospectus. |