|Basis of Allotment|
PROVOGUE (INDIA) LIMITED
(Formerly Acme Colthing Private Limited)
(Incorporated on November 17, 1997 under the Companies Act, 1956. Converted into Acme Clothing Limited on March 11, 2005 and Received fresh Certificate of Incorporation consequent to change of name to Provogue (India) Limited on March 14, 2005) Registered Office: 105/106, Dream Square, 1st Floor, Offi New Link Road, Andheri (W), Mumbai 400053. (Previous Registered Office; On incorporation 63-A, Bombay Talkies Compound, Malad (W), Mumbai-400 061. In 1999 shifted to 138-141, Govt. Industrial Estate, Charkop, Kandivali (W), Mumbai-400 067). Tel.: 91 22 2869 3892, Fax: 91 22 2868 2225, e-mail: investorservice@ provogue.net, website:www.provogue.net Compliance Office: Mr. Aniket Hirpara.
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 40,49,402 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PRICE OF Rs. 150/- (INCLUDING PREMIUM OF Rs. 140/-) PER SHARE AGGREGATING Rs. 6074.10 LACS (HEREINAFTER REFERRED TO AS "THE ISSUE"). THE ISSUE CONSTITUTES 25% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE ISSUE PRICE OF Rs. 150 PER EQUITY SHARE OF FACE VALUE OF Rs. 10/- EACH IS 15 TIMES OF THE FACE VALUE.
The Issue was made through the 100% book building process wherein upto 50% of the Issue was to be allocated on a discretionary basis to Qualified Institutional Buyers (QIBs). Further, not less than 15% of the Issue was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was to be made available for allocation on a proportionate basis to Retail individual Bidders, subject to valid bids being received at or above the Issue Price.
The Board of Directors of Provogue (India) Ltd. wish to thank the investing Public for their response to the issue which opened for subscription on Friday, June 10, 2005 and closed on Thursday, June 16, 2005. The Issue received 253562 applications for 271100095 equity shares resulting in 66.95 times subscription. The details of the applications received in the Issue from Retail, Non Institutional and Qualified Institutional Investor categories are as under:
A sample of the final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with The Stock Exchange, Mumbai ("BSE") on June 29, 2005.
A. Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.150/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 44.47 times. The total number of shares allotted in this category is 1417320 Equity Shares. Sample of category-wise details of the Basis of Allocation are as under:
B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional Investors who had bid at the Issue Price of Rs. 150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 166.13 times. The total number of shares allotted in this category is 607381 Equity Shares. Sample of category-wise details of the Basis of Allocation are as under:
C. Allocation to QIBs
The Committee of Directors (IPO) of the Company in its Meeting held at Mumbai on June
30, 2005 has approved the basis of allotment of shares as above and the shares to various
successful applicants have been alloted accordingly.
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE N LISTING OR THE BUSINESS PROSPECTS OF PROVOGUE (INDIA) LIMITED.