|Basis of Allotment|
|Bombay Rayon Fashions Limited
(The Company was originally incorporated as Mudra Fabrics Private Limited on May 21, 1992. Name of the Company was changed to Mudra Fabrics Limited w.e.f. October 13,1992. Name of the Company was further changed to Bombay Rayon Fashions Limited w.e.f. September 30, 2004)
Registered Office: D-1st Floor, Oberoi Garden Estates, Chandivali Farms Road, Chandivali, Andheri (East), Mumbai 400 072. Tel: + 91 22 5695 5566 Fax: + 91 22 2847 6992; Email: firstname.lastname@example.org; Website: www.bombayrayon.com; Compliance Officer: Mr. A. R. Mundra
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 1,34,75,000 EQUITY SHARES OF THE FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS. 70/- PER EQUITY SHARE FOR CASH AGGREGATING RS. 9,432.50 LAKHS (REFERRED TO AS THE 'ISSUE'), INCLUDING RESERVATION FOR EMPLOYEES OF 6,12,500 EQUITY SHARES. THE NET OFFER TO PUBLIC CONSTITUTES 27.51% OF THE POST ISSUE PAID-UP EQUITY CAPITAL OF BOMBAY RAYON FASHIONS LIMITED ('ISSUER' OR THE COMPANY').
THE FACE VALUE PER EQUITY SHARE IS RS. 10/- AND THE ISSUE PRICE IS SEVEN (7) TIMES OF THE FACE VALUE
The Issue is made through a 100% Book Building Process, wherein not more than 50% of the Net Issue to the Public was to be allotted on a discretionary basis to Qualified Institutional Buyers ('Q/Bs'). Further, not less than 15% of the Net Issue to the Public was available for allotment on a proportionate basis to Non-Institutional Bidders / Investors and not less than 35% of the Net Issue to the Public was available for allotment on a proportionate basis to the Retail Bidders / Investors, subject to valid bids were received within the Price Band.
The Issue received 1,56,552 applications for 14,56,03,000 Equity Shares resulting in 22.6399 times subscription (excluding applications by QIBs and Employees of the Company). The details of the applications received in the Issue from Retail Bidders / Investors, Non-Institutional Bidders / Investors, Employees and Qualified Institutional Buyers' categories (before technical rejections) are as under:
*): Note: Number of times of the respective category.
A sample of the final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with Bombay Stock Exchange Limited ('BSE') on Tuesday, November 29, 2005.
A. Allotment to Retail Investors
The Basis of Allotment to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs. 70/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 19.01901 times. The total number of Equity Shares allotted in this category is 45,06,300. The category-wise details of the Basis of Allotment are as under:
B. Allotment to Non-Institutional Investors
The Basis of Allotment to the Non-institutional Investors, who have bid at the Issue Price of Rs. 70/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 29.84847 times. The total number of Equity Shares allotted in this category is 19,29,636. The category-wise details of the Basis of Allotment are as under:
The Basis of Allotment to the Employees of Bombay Rayon Fashions Limited, who have bid at cut-off or at the Issue Price of Rs. 70/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.0533 times. The total number of Equity , Shares allotted in this category is 6,12,500. The category-wise details of the Basis of Allotments are as under:
Pursuant to Clause 188.8.131.52 (g) of the SEBI (Disclosure and Investor Protection Guidelines), 2000 and item no. 24 of the Notes to the Capital Structure (page no. 24) of the Prospectus dated Tuesday, November 22,2005, the Company has rounded-off fractional Equity Shares to the nearest one (1) Equity Share.
In view of rounding-off of the fractional Equity Shares to the nearest one (1) Equity Share, while finalizing the Basis of Allotment, the Issue Size has increased to 1,34,79,686 Equity Shares of Rs. 10/- each at a Price of Rs. 70/- per Equity Share aggregating Rs. 9,435.78 lakhs.
The Board of Directors of the Company at it's Meeting held at Mumbai on Tuesday, November 29, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.
The Refund Orders will be dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten (10) days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants are being credited to their respective 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 and National Stock Exchange of India Limited within seven (7) working days from the date of approval of the Basis of Allotment.
INVESTORS MAY PLEASE NOTE
These details of allotment made, would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at www.lntlmespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue, Intime Spectrum Registry Limited, quoting full name of the First / Sole Applicant, Serial Number of the Bid-cum-Application Form, Number of Equity Shares bid for, Name of the Member of the Syndicate, Place where the bid was submitted and payment details at the address given below:
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 BOMBAY RAYON FASHIONS LIMITED.