|Basis of Allotment|
Manjushree Extrusions Limited
ADVANCED PACKAGlNG SOLUTIONS
(The Company was originally incorporated as a Private Limited Company
vide registration No. 2799 of 1987-88 under the provisions of the Companies Act, 1956 on
13th November, 1987 under the name and style of 'Manjushree Extrusions Private
Limited" with the Registrar of Companies, Assam, Shillong and later by virtue of
Special Resolution passed on 12th December,1994 the Company was converted into a Public
Limited Company under section Sections 21/31/44 of the Companies Act, 1956 and received an
amended certificate of incorporation and the name of the Company was changed to Manjushree
BASIS OF ALLOTMENT
Composite Issue of 93,36,900 Equity Shares of Rs. 10 each aggregating to Rs. 3570.00 Lacs comprising of:
1. Rights issue of 42,10,800 Equity Shares of Rs.10 each for cash at a premium of Rs. 20 per share (i.e. at a price of Rs. 30 per share) aggregating to Rs. 1263.24 lacs to the existing shareholders of the company in the ratio of 1 (one) equity share for every 1(one) equity share held as on 24th December, 2007 (Record Date);
2. Public issue of 51,26,100 Equity Shares of Rs. 10 each for cash at a premium of Rs. 35 per share (i.e. at a price of Rs..45 per share) aggregating to Rs. 2306.76 Lacs.
The face value of the equity share is Rs. 10 per equity share and the rights issue price of Rs. 30 per equity share is 3 times of the face value and the public issue price of Rs. 45 is 4.5 times of the face value. The net public issue would constitute 37.84% of the post issue paid up capital of the company.
RIGHTS ISSUE-BASIS OF ALLOCATION
The Rights Issue received 365 valid applications for 4,489,750 shares resulting in the issue being subscribed 1.07 times
On 20th February, 2008, the Board of Directors has approved theBasis of Allotment and allotted the said 42,10,800 Equity Shares. As per the Basis of Allotment, stated in the Offer Document, Equity shares were allotted in full to the Shareholders and Renouncees against applications towards their entitlement. As stated in the Offer Document, allotment to Shareholders against applications towards additional shares has been made considering the shares held by them on 24th December, 2007 (Record Date) and the basis of allotment to shareholders / renouncees who have applied for additional shares was finalized in consultation with BSE, the designated Stock Exchange.
PUBLIC ISSUE - BASIS OF ALLOCATION
The Public Issue received 4438 valid applications for 6,353,700 shares resulting in the issue being subscribed 1.24 times.
A) Allocation to Retail Investors
The Basis of Allocation to the Retail investors was finalized in consultation with BSE. The category was subscribed 0,87 times. The total number of shares allotted in this category is 2,227,500 Equity Shares. A sample of the category-wise details of the Basis of Allocation is as under.
B) Allocation to Other than Retail Investors
The Basis of Allocation to the Other than Retail investors was finalized in consultation with BSE. The category was subscribed 1.61 times. The total number of shares allotted in this category is 2,898,600 Equity Shares. A sample of the category-wise details of the basis of allocation is as under:
The Board of Directors of the Company has approved the Basis of Allotment on 20th February, 2008 and has allotted shares to the valid applicants. The physical refund warrants, intimation regarding refunds through electronic modes (ECS, RTGS, NEFT or Direct Credit) and allotment advice are being dispatched to the same address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrars to the issue at the address given below. The Refund Orders are being over-printed with the bank mandate details as registered, if any, with the depositories.
The equity shares allotted to applicants are being credited to their beneficiary
accounts subject to validation of the account details with the depositories concerned. The
listing applications are being filed with the Bombay Stock Exchange Limited, Ahmedabad
Stock Exchange Limited, The Calcutta Stock Exchange Association Limited and The Gauhati
Stock exchange Limited and the Company is taking steps to complete all formalities for
listing and commencement of trading of Equity Shares within seven working days form the
date of allotment.
All the future correspondence in this regard may kindly be addressed to the Registrars
to the Issue, whose address is furnished below, quoting full name of the First/sole
applicant, Serial number of the application form, number of shares applied for and place
where the application was submitted with payment details.
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE OR THE BUSINESS PROSPECTS OF MANJUSHREE EXTRUSIONS LIMITED