|Basis of Allotment|
NITIN SPINNERS LIMITED
(Originally incorporated as Nitin Spinners Private Limited on 15th October, 1992 under the Companies Act, 1956. Subsequently, our Company was converted into a Public Limited Company on 15th November, 1994.)
Registered Office: 16-17 Km. Stone, Chittor Road, Hamirgarh,
Public Issue of 2,33,33,945 Equity Shares of Rs. 10/- each for cash at a premium of Rs. 11/- per Equity Share aggregating Rs. 4900 Lacs.
The Basis of Allotment of Public Issue was approved by Bombay Stock Exchange Limited on January 24, 2006. The IPO Committee of the Company at its Meeting held at Bhilwara on 25th Janurary, 2006 at 10:00 am allotted the shares to the successful applicants. Details of valid applications received & allotments done are as under:
The details of valid applications received in the Issue from Retail Category, Corporates / Institutions (Non Retail Category) / Employte's / QIBs / are as under:
A. Allotment of Retail Investors.
B. Allotment to Nan Retail Category (Individuals who have applied for more than 4800 shares, Bodies Corperates / Institutions)
The total number of shares allotted in this category is 26,92,857 Equity Shares (30.07% of total shares offered to Public other than QIB have been aloloted to non retail category).
C. AIlotment to Employess
The Company has received 109 valid applications for 11,62,800 equity shares against 11,90,476 equity shares offered resulting in under subscription. The under subscription portion of 27,676 shares have been added to the shares allotted to Retail & Non - Retail category in the proportion of 50% to each category. All applicants have been allotted shares on a full & firm basis and the total no of shares allotted in this category is 11,62,800 Equity Shares.
D. Allotment to Qualified Institutional Buyers (QIBs)
The Company has received 47 valid applications for 7,03,53,000 Equity share against 89,28,571 Equity shares offered resulting in over subscription of 7.88 times. The allotment to QIB category is done on a DISCRETIONARY basis.
The Refund Orders have been despatched to the sole/ first applicant at the address of the investors as registered with the depositories. In case the same is not received within ten days, Investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered with the depositories. The shares allocated to successful applicants have been credited to their beneficiary 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 Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
All future correspondence in this regard may kindly be addressed to the Registrars to the issue quoting full name of the First/ Sole applicant, Serial No. of the Application form, number of shares applied for and the name of the Bank branch where the application was lodged at the following address given below:
Bigshare Services Private Limited,
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF NITIN SPINNERS LIMITED.