|Basis of Allotment|
Constituted under, the Companies Act, 1956 on September 29, 1987 as a private limited
company under the name and style of Hybo Knit Private Limited. Our name was subsequently
changed to Lovable Lingerie Private Limited pursuant to a certificate of change of name
dated December 20, 1995. Our Company was converted into a public limited company pursuant
to the special resolution passed by the members of our Company on February 8, 2010 and
fresh certificate of name change consequent upon conversion of our Company from a private
limited company to a public limited company issued by the RoC on April 19, 2010. The
corporate identification number of our Company is U17110MH1987PLC044835. For further
details see the chapter titled "History & Certain Corporate
Matters" on page 128 of the Prospectus.
Company Secretary: Mrs. Megha Maheshwari, Compliance Officer: Mr. Sunil Shukla
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 45,50,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF LOVABLE LINGERIE LIMITED ("THE COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF RS 205 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 195 PER EQUITY SHARE) AGGREGATING RS 9,327.50 LACS (THE "ISSUE"). THE ISSUE WOULD CONSTITUTE 27.08% OF THE POST ISSUE PAID-UP CAPITAL OF THE ISSUER.
THE FACE VALUE OF THE EQUITY SHARES RS 10 EACH. THE ISSUE PRICE IS RS 205/- AND IS 20.5 TIMES THE FACE VALUE OF THE EQUITY SHARES.
The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on March 24, 2011.
In case of revision in the Price Band, the Bidding/Issue Period will be extended for three additional Working Days after revision of the Price Band, subject to the Bidding/Issue Period not exceeding ten (10) Working Days. Any revision in the Price Band and the revised Bidding/Issue Period, if applicable, will be widely disseminated by notification to National Stock Exchange of India Limited ("NSE") and the Bombay Stock Exchange Limited ("BSE"), by issuing a press release, and also by indicating the change on the website of the Book Running Lead Manager ("BRLM") and at the terminals of the other members of the Syndicate.
The Issue is being made through the 100% Book Building Process wherein not more than 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIB") Bidders. 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Potential investors, other than Anchor Investors, may participate in the Issue 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. For further details please see the chapter titled "Issue Procedure" on page 271 of the Prospectus.
The Issue received 57,905 applications for 136,964,430 equity shares resulting in 30.1021 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Anchor Investors are as under:
(Before technical rejections)
The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange) Limited ("BSE") on March 18, 2011.
A. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at th e Issue Price of Rs 205 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 20.17 27 times. The total number of shares allotted in Retail Individual Investor category is 1,592,500 Equity Shares to 39,685 successful applicants. The category-wise details of the Basis of Allotment are (Sample) as under:
B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs 205 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 98.2644 times. The total number of equity shares allotted in this category is 682,500 equity shares to 155 successful applicants. The category-wise details of the Basis of Allotment are (Sample) under:
C. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, Mutual Funds were initially allocated 5% of the quantum of shares available (79,625 Equity Shares) and other QIBs were allocated the remaining available shares (1,512,875 Equity Shares) on proportionate basis.
D. Allocation to Anchor Investors
Allocation to Anchor Investors has been done on a proportionate basis in consultation with BRLMs. As per the SEBI regulations, 30% of QIB Reservation (682,500 Equity Shares) was allocated to Anchor Investors.
The Board of Directors of the company at the Board Meeting held on March 21, 2011, has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., Bombay Stock Exchange Limited ("BSE"), Mumbai, of the Offer and has authorized the Corporate Action for the transfer of the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and/or notices have been dispatched to the address of the investors as registered with the depositories on March 21, 2011. In case the same is not received, investors may contact at the address given below. The instructions to Self Certified Syndicate Banks ("SCSBs") for unblocking and transfer of funds have been sent on March 21, 2011 .The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allocated to successful applicants have been credited to their beneficiary accounts on March 22, 2011, subject to validation of the account details with the depositories concerned. The Company has filed its Listing application with Bombay Stock Exchange Limited (the "Designated Stock Exchange") on March 22, 2011. The Equity Shares are to be admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on March 24, 2011 subject to receipt of necessary approvals.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Offer, Link Intime India Private Limited at Website: www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrars to the offer quoting full name of the First/ Sole applicant, Serial number of the Bid cum Application Form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:
Link Intime India Private Limited
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.