|Basis of Allotment|
AVON WEIGHING SYSTEMS LIMITED
[The Company was incorporated on 04/03/1999 as Avon Weighing Systems Private Limited under the Companies Act, 1956, with Registration Number 11-118640. The Company was converted into Public Limited Company with effect from 25/05/2004 with its name as Avon Weighing Systems Limited.]
Registered Office: 15,2nd Floor, B Wing, Kamal Kunj,
S.V. Road, Irla Bridge, Andheri (W), Mumbai - 400058
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 1,37,33,033 EQUITY SHARES OF Rs. 10/- EACH OF AVON WEIGHING SYSTEMS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT PAR (I.E. AT A PRICE OF RS. 10/- PER SHARE) AGGREGATING TO RS. 1,373.30 LACS (HEREIN AFTER REFERRED TO AS THE "ISSUE") COMPRISING OF PROMOTERS CONTRIBUTION OF 38,96,633 EQUITY SHARES OF FACE VALUE OF RS. 10/- FOR CASH AGGREGATING TO RS. 389.66 LACS (HEREIN AFTER REFERRED TO AS THE "PROMOTERS CONTRIBUTION"). THE NET OFFER TO THE PUBLIC IS OF 98,36,400 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT PAR AGGREGATING TO RS. 983.64 LACS (HEREIN AFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE WOULD CONSTITUTE 59.33% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY
THE ISSUE PRICE IS SAME AS THE FACE VALUE OF RS. 10/-
The Board of Directors thank the investing public for their overwhelming response to the Public Issue which opened for subscription on June 09,2008 and closed on June 12,2008. The Company has received 48,122 valid applications aggregating to 43,99,88,500 Equity Shares. Out of the total valid applications received, 47,935 applications were in Retail category for 24,68,68,500 Equity Shares and 187 applications were in Non-Retail category for 19,31,20,000 Equity Shares. The Public issue was over subscribed by 44.82 times in Retail category and 44.62 times in Non-retail category.
In terms of the prospectus dated May 27,2008 and also as per the guidelines issued by SEBI, a minimum of 50% of the net issue to the Public Issue shall be available for allotment to Retail Individual Investors and balance of the net issue to the public shall be available for allotment to individual applicants other than Retail Individual Investors and other investors including Corporate Bodies/ Institutions irrespective of number of shares applied for The Basis of Allotment has been approved by the Bombay Stock Exchange Limited (BSE,-Designated Stock Exchange) on June 27,2008.
The details of the valid applications received in Retail Individual Investors and Non-Retail Investors categories are as under (after technical rejections):
A. Allotment to Retail individual Investors
B. Allotment to Non- Retail Investors
The Board of Directors of the Company, at its Meeting held at the Registered Office of the Company in Mumbai on June 27,2008 has approved the basis of allotment and has allotted the shares to various successful applicants.
Refunds have been made through ECS, Direct credit and RTGS into the Bank Accounts of the applicants or Refund orders as the case may be dispatched to their address as mentioned in the records maintained with the Depositories on June 30,2008. In case the same is not received within ten days, applicants may contact the Registrar at the address given below. ECS intimation Note and Refund Orders have been overprinted 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. The Company is taking steps to get the Equity Shares admitted for trading on Bombay Stock Exchange Limited. The listing application has been filed with the Bombay Stock Exchange Limited on July 01,2008.
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 number of the application, DPID and Client ID, number of shares applied for, Bank Branch Name where the application was submitted and payment details at the address given below:-
DATAMATICS FINANCIAL SERVICES 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 REFEX REFRIGERANTS LIMITED