|Basis of Allotment|
Shringar Cinemas Ltd.
(Our Comapany was incoporated on October 26,1999 as "Shirgar Cinemas Private Limited" and converted into a public company "Shrigar Cinemas Limited" on December 19,2004 under the Comapnies Act 1956.)
Registered Office: B/103, Kailash, Juhu Church Road. Juhu, Mumbai-400049. India
Tel:+91 22 2625 5900: Fax:: +91 22 2625 5272:
Corporate office: Fame Adlabs, 2nd Floor, Andheri Link
Road, Oshiwar, Andheri (w),
BASIS OF ALLOCATION
Public Issue of 81,50,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 53 per Equity Share aggregating Rs. 4319.50 Lacs, (the "Issue") by Shrigar Cinemas Limited ("Shrigar Cinemas" or the " Company" or the "Issuer"). The face value of the Equity Shares is Rs.10 and the Issue price is 5.3 times the Face Value. The Issue would constitute 25.82% of the post Issue paid-up capital of Shringar Cinemas Limited.
The Book Running Lead Mangers ("BRLMs') to the Issue are Enam Financial Consultants Private Limited and JM Morgan Stanley Private Limited. The Equity Shares of the company are proposed to be listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Limited and trading is scheduled to start on or around April 29,2005.
The isssue was made through a 100% book building scheme where in upto 250,000 Equity Shares were reserved for employees. The Net Issue to the Public is thus 79,00,000 Equity Shares. Upto 50% of the Net Issue to public or 39,50,000 Equity shares was to be available for allocation on a discretionary basis to Qualified Institutional Buyers. Further, not less 25% of the Net Issue of Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Net Issue to Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Net Issue to Public or 19,75,000 equity shares was to be available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price.
A summary of the Final demand at various price levels as per the electoronic book is given below
The Company has received 23,207 valid bids for 13,486,500 Equity shares.
A) Allotment to Non Institutional Bidders:
B) Allotment to Retail Individual Bidders:
C)Allotment to Qualified Institutional Buyers (QIBs):
D) Allotment to Employees
Since the employee category was under-subscribed, all valid applications in this category have received full allotment.
The Board of Directors of Shringal Cinemas Limited at its meeting held in Mumbai on April 22, 2005, has approved the basis of allotment of shares as above and allotted the shares to various successful applicants. The Refund orders will be dispatched on or before April 26, 2005 to the addresses of the Investors as registered with the depositories. The refund orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to the successful applicants are being credited to their beneficiary accounts, subject to validation of the account details with the depositories concerned. Shringar Cinemas Limited is taking steps to the Equity Shares admitted for trading on the 'The Stock Exchange, Mumbai' and 'National Stock Exchange of India Limited' within seven working days from the date of approval of the basis of allocation.
Allotment details have been hosted on the Registrar's website i,e. www.intimespectrum.com All correspondence with reference to this issue should be addressed to the Registrars to the offer quoting full name of the First / Sole applicant, Serial number of the bid-cum-application from, number of shares bid for, name of the Syndicate Member and Place where the bid was submitted and payment details at the Following address:
Intime Spectrum Registry Limited
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES EITHER ON LISTING OR THE BUSINESS PROSPECTS OF THE COMPANY.