(THIS IS ONLY AN ADVERTISEMENT FOR
INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE
INDIA.)
 |
BRIGHT
OUTDOOR MEDIA LIMITED |
| Corporate Identification Number: U74300MH2005PLC156444 |
Our company was originally incorporated as a Private Limited under the
name "Bright Outdoor Media Private Limited" under the provisions of the
Companies Act, 1956 and Certificate of Incorporation was issued by the Registrar of
Companies Mumbai, Maharashtra on September 29, 2005. Subsequently, Our Company was
converted into a Public Limited Company and the name of our Company was changed to
"Bright Outdoor Media Limited" vide special resolution passed by the
Shareholders at the Extra Ordinary General Meeting held on October 24, 2022 and a Fresh
Certificate of Incorporation pursuant to change of name was issued by Registrar of
Companies. Mumbai, Maharashtra, dated November 24, 2022. The Corporate Identification
Number of our Company is U74300MH2005PLC156444. For further details and details of changes
in the registered office of our company, please refer to the chapter titled "History
and Certain Corporate Matters" beginning on page 131 of the Prospectus.
| Registered
Office: 801, 8th Floor, Crescent Tower, Near Morya House, Fame Infinity Mall, Off New
Link Road, Andheri (West), Mumbai 400 053, Maharashtra, India; |
| Tel: 022 -
6714 0000 | E-mail: investor@brightoutdoor.com
| Website: www.brightoutdoor.com |
| Contact Person: Khyati
Mishra, Company Secretary and Compliance Officer |
| PROMOTERS OF OUR
COMPANY: YOGESH JIWANLAL LAKHANI AND JAGRUTI YOGESH LAKHANI |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 38,00,000 EQUITY SHARES OF FACE VALUE OF Rs.
10/- EACH ("EQUITY SHARES") OF BRIGHT OUTDOOR MEDIA LIMITED ("BRIGHT"
OR "THE COMPANY" OR "OUR COMPANY" OR "THE ISSUER") FOR CASH
AT A PRICE OF Rs. 146/- PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 136/- PER EQUITY
SHARE) ("ISSUE PRICE") AGGREGATING Rs. 5,548.00 LAKHS ("THE ISSUE") OF
WHICH 1,94,000 EQUITY SHARES AGGREGATING TO Rs. 283.24 LAKHS WILL BE RESERVED FOR
SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE
LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 36,06,000 EQUITY SHARES OF
FACE VALUE OF Rs. 10/- EACH AT AN ISSUE PRICE OF Rs. 146/- PER EQUITY SHARE AGGREGATING
Rs. 5,264,76 LAKHS ("NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE
27.28% AND 25.89% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| THE FACE VALUE OF
THE EQUITY SHARES IS Rs. 10/- AND THE ISSUE PRICE IS 14.6 TIMES OF THE FACE VALUE |
| ISSUE |
OPENED ON: MARCH 14, 2023 |
| CLOSED ON: MARCH 17, 2023 |
| 1. |
Our Equity
Shares have never been publicly traded, and may experience price and volume fluctuations
following the completion of the Issue. Further, our Equity Shares may not result in an
active or liquid market and the price of our Equity Shares may be volatile and you may be
unable to resell your Equity Shares at or above the Issue Price or at all. |
| 2. |
The average
cost of acquisition of Equity Shares by our Promoters is set forth in the table below: |
| S. No. |
Name
ol the Promoters |
No.
ot Equity Shares held |
Average
cost ot Acquisition (in Rs.) |
| 1. |
Yogesh
Jiwanlal Lakhani |
1,01,24,323
|
2.50
|
| 2. |
Jagruti
Yogesh Lakhani |
400
|
2.50
|
| Investors are
required to refer section titled "Risk Factors" beginning on page 27 of the
Prospectus. |
Our Company has filed the Prospectus dated March 03, 2023 with the ROC
(the "Prospectus") The Equity Shares of the Company are proposed to be
listed on the SME Platform of BSE i.e., BSE SME, in terms of the Chapter IX of the
SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an
In-Principle approval from BSE for the listing of the Equity Shares pursuant to letter
dated February 06, 2023. BSE is the Designated Stock Exchange for the purpose ot this
Issue. The trading is to be commenced on March 24, 2023 (Subject to receipt of listing
and trading approvals from the BSE).
The Issue is being made through the Fixed Price process, the allocation
in the Net Issue to the Public category is made pursuant to Regulation 253(2) of the SEBI
(ICDR) Regulations, 2018, as amended from time to time, wherein a minimum of 50% of the
Net Issue of shares to the Public is initially made available for allotment to Retail
Individual Investors. The balance of Net Issue of Shares to the public is made 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. If the Retail Individual Investor category is entitled to more than 50% on
proportionate basis, they shall be allotted that higher percentage. Under subscription, if
any, in any of the categories, would be allowed to be met with spill-over from any of the
other categories or a combination of categories at the discretion of our Company in
consultation with the Lead Manager and the Designated Stock Exchange. Such inter-se spill
over, if any, would be affected in accordance with applicable laws, rules, regulations and
guidelines. All potential investors shall participate in the Issue only through an
Application Supported by Blocked Amount ("ASBA") process including
through UPI mode (as applicable) by providing details of the irrespective bank accounts
and / or UPI IDs, in case of Rlls, if applicable, which will be blocked by the Self
Certified Syndicate Banks (‘‘SCSBs") for the same.
The Net Issue has received 2,139 applications before technical
rejections for 43,82,000 Equity Shares resulting in times 1.22 subscription. The details
of the applications received in the Net Issue (before and after technical rejections &
withdrawal) are as follows:
Detail of the Applications Received
| Category |
Before Technical Rejections & Withdrawals |
After Technical Rejections & Withdrawals |
| No. of Applications |
No.
of Equity Shares |
No.
of Applications |
No.
of Equity Shares |
| Retail Individual Investors |
2,066
|
20,66,000
|
2,048
|
20,48,000
|
| Other than Retail Individual Investors |
73
|
23,16,000
|
69
|
22,95,000
|
| Total |
2,139
|
43,82,000
|
2,117
|
43,43,000
|
Note:
| 1. |
The Net Issue does
not include 1,94,000 Equity Shares reserved for Market Maker, which was subscribed by 1.00
time. |
| 2. |
There were 22
Technical Rejections for 39,000 Equity Shares & no withdrawal of any application in
any category. |
The shares available for allotment have been arrived in the equal
proportion of the respective over subscription ratio of Retail Individual Investors and
Other than Retail Individual Investors category. In view of the explanation provided under
regulations 253 (2) of the SEBI (ICDR) Regulations, 2018, the Retail Individual Investors
Category has applied for 47.16% and 52.84% by Other than Retail Individual Investors;
accordingly, we have derived the issue size for different categories. Further, owing to
rounding off, an additional shares has been proportioned to be allotted in retail
investors. In other than Retail Individual Investor Category there was over subscription
of 23,16,000 Equity Shares before technical rejection and 22,95,000 Equity Shares after
technical rejection. In Retail Individual Investors Category there was over subscription
of 20,66,000 Equity Shares before technical rejection and 20,48,000 Equity Shares after
technical rejection. The Basis of Allotment was finalised in consultation with the
Designated Stock Exchange - BSE on March 21, 2023.
| A) |
Allocation to
Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to
the Market Maker, at the Issue Price of Rs. 146/- per Equity Share, was finalized in
consultation with BSE. The category was subscribed by 1.00 time. The total number of
shares allotted in this category is 1,94,000 Equity Shares. The category-wise details of
the Basis of Allotment are as under: |
| No. of Shares Applied for |
No.
of Applications Received |
%
to Total |
Total
No. of Shares Applied |
%
to Total |
Allocation
per Applicant |
Ratio
of Allottees to the Applicant |
Total
No. of Shares Allotted |
| 1,94,000 |
1 |
100
|
1,94,000
|
100
|
1,94,000
|
1:1
|
1,94,000
|
| B) |
Allocation to
Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis
of Allotment to the Retail Individual Investors, at the Issue Price of Rs. 146/- per
Equity Share, was finalized in consultation with BSE. Pursuant to Regulation 253(2) of the
SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is
18,03,000 Equity Shares. The category was subscribed by 1.14 times. The category-wise
details of the Basis of Allotment are as under: |
| No. of Shares Applied for |
No.
of Applications Received |
%
of Total |
Total
No. of Shares Applied |
%
to Total |
Allocation
per Applicant |
Ratio
of Allottees to the Applicant |
Total
No. of Shares Allotted |
| 1,000 |
2,048
|
100
|
20,48,000
|
100
|
1,000
|
758:861
|
18,03,000
|
| C) |
Allocation to Other than
Retail Category (After Technical Rejections & Withdrawals): The Basis of Allotment
to the Non-Retail Investors, at the Issue Price of Rs. 146/- per Equity Share, was
finalized in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR)
Regulations, 2018, the total number of shares allocated in this category is 18,03,000
Equity Shares. The category was subscribed by 1.27 times. The category-wise details of the
Basis of Allotment are as under Sample basis: |
| No. of Shares applied for (Category Wise) |
No.
of Applications Received |
%
to Total |
Total
No. of Shares applied in each category |
%
to Total |
Allocation
per Applicant |
Ratio of Allottees to the Applicant |
Total
No. of Shares allocated/ allotted |
| 15,000 |
2
|
2.90
|
30,000
|
1.31
|
12,000
|
1
|
1
|
431
|
| 24,000 |
1
|
1.45
|
24,000
|
1.05
|
19,000
|
1
|
1
|
145
|
| 25,000 |
2
|
2.90
|
50,000
|
2.18
|
19,000
|
1
|
1
|
-1,281
|
| 40,000 |
1
|
1.45
|
40,000
|
1.74
|
31,000
|
1
|
1
|
-425
|
| 48,000 |
1
|
1.45
|
48,000
|
2.09
|
38,000
|
1
|
1
|
290
|
| 63,000 |
1
|
1.45
|
63,000
|
2.75
|
50.000
|
1
|
1
|
506
|
| 68,000 |
2
|
2.90
|
1,36,000
|
5.93
|
53,000
|
1
|
1
|
-844
|
| 76,000 |
1
|
1.45
|
76,000
|
3.31
|
60,000
|
1
|
1
|
293
|
| 1,03,000 |
1
|
1.45
|
1,03,000
|
4.49
|
81,000
|
1
|
1
|
81
|
| 1,50,000 |
1
|
1.45
|
1,50,000
|
6.54
|
1,18,000
|
1
|
1
|
157
|
| 2,00,000 |
1
|
1.45
|
2,00,000
|
8.71
|
1,57,000
|
1
|
1
|
-124
|
| 2,05,000 |
3
|
4.35
|
6,15,000
|
26.80
|
1,61.000
|
1
|
1
|
-157
|
| 2,40,000 |
2
|
2.90
|
4,80,000
|
20.92
|
1.88.000
|
1
|
2
|
-1,098
|
The Board of Directors of the Company at its meeting held on March
21, 2023, has taken on record the Basis of Allotment of Equity Shares, as approved by
the Designated Stock Exchange viz. BSE and has authorized the corporate action for the
allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and/ or notices shall be dispatched to the
address of the investors as registered with the depositories on March 23, 2023.
Further, the instructions to Self-Certified Syndicate Banks has been processed on March
22, 2023 for unblocking of funds. The Equity Shares allotted to successful applicants
are being credited to their beneficiary accounts subject to validation of the account
details v/ith the depositories concerned. In case the same is not received within
prescribed time, investors may contact the Registrar to the Issue at the address given
below. The Company is taking steps to get the Equity Shares admitted for trading on the
SME Platform of BSE within 5 working days from the Closure of the Issue. The trading is
proposed to be commenced on March 24, 2023 subject to receipt of listing and trading
approvals from BSE.
Note: All capitalized terms used and not defined herein shall have
the respective meanings assigned to them in the Prospectus dated March 03, 2023 ("Prospectus").
The details of the allotment made has been hosted on the website of the
Registrar to the Issue, Bigshare Services Private Limited at www.bigshareonline.com.
All future correspondence in this regard may kindly be addressed to the
Registrar to the Issue quoting full name of the First/Sole Applicant. Serial number of the
Application Form. Number of Shares Applied for and Bank Branch where the Application had
been lodged and payment details at the address given below:
 |
BIGSHARE
SERVICES PRIVATE LIMITED |
| Office
No, S6-2, 6th Floor. Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, |
| Andheri
East, Mumbai - 400 093, Maharashtra, India. |
| Telephone:
022 - 6263 8200 | E-mail: ipo@bigshareonline.com
|
| Investor
grievance E-mail: investor@bigshareonline.com
|
| Website:
www.bigsharesonline.com |
| Contact
Person: Babu Rapheal C SEBI Registration No.: INR000001385 |
|
For BRIGHT OUTDOOR MEDIA
LIMITED |
|
Sd/- |
|
Yogesh Jiwanlal Lakhani |
| Place: Mumbai |
Designation: Chairman
& Managing |
| Date: March 22, 2023 |
Director DIN:00845616 |
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 BRIGHT
OUTDOOR MEDIA LIMITED.
BRIGHT OUTDOOR MEDIA LIMITED is proposing, subject to applicable
statutory and regulatory requirements, receipt of requisite approvals, market conditions
and other considerations, to make a Public Issue of its Equity Shares and has filed
Prospectus with the Registrar of Companies, Mumbai, Maharashtra on March 03, 2023. The
Prospectus is available on websites of the Company, the BSE and the Lead Manager at www.brightoutdoor.com, www.bseindia.com, www.shreni.in
respectively. Applicants should note that investment in equity shares involves a high-risk
and for details relating to the same, see the Prospectus, including section titled
"Risk Factors" beginning on page 27 of the Prospectus.
The Equity Shares have not been and will not be registered under the
U.S.Securities Act of 1933, as amended (the "U.S.Securities Act and applicable U.S.
state securities law. Accordingly, the Equity Shares are offered or sold (i) within the
United States to persons reasonably believed to be qualified institutional investors (as
defined in Rule 144A under the U.S.Securities Act and (ii) Outside the United States in
offshore transactions in reliance on Regulation S under the U.S. Securities act and
applicable laws of the jurisdiction where such offers and sales occur.