|Basis of Allotment|
is only an advertisement for Information purposes only not for release in the United
States and is not a prospectus announcement and does not contitute an invitation or offer
to aquire, purchase or Subscribe for Securities)
Sharda Cropchem Limited
Our Company was Incorporated as Sharda Worldwide Exports Private Limited on March 12,2004, at Mumbai. as a private limited company under the Companies Act. 1956. as amended (the "Companies Act 1956"). Our Company changed its name to Sharda Cropchem Private Limited on September 18, 2013. Thereafter, our Company was converted into a public limited company on September 18,2013 and consequently, the name of our Company was changed to Sharda Cropcnem Limited. For details of changes in the name of our Company, see "History and Certain Corporate Matters" an page 139 of the Prospectus.
Registered and Corporate Office: Domnic Holm, 29th Road, Bandra
(West), Mumbai 400 050;
PROMOTERS OF OUR COMPANY: RAMPRAKASH V.BUBNA, SHARDA R.BUBNA, ASHISH R.BUBNA AND MANISH R.BUBNA
BASIS OF ALLOTMENT
The Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Slack Exchange of India Limiled ("NSE') and the trading will commence on or about September 23, 2014.
PUBLIC OFFER OF 22,555,124 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH (THE "EQUITY S HARES") OF SHARDA CROPCHEM LIMITED (THE COM PANY") FOR CASH AT A PRICE OF RS.156 PER EQUITY SHARE THROUGH AN OFFER FOR SALE BY THE SELLING SHAREHOLDERS (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") OF THE PROSPECTUS AGGREGATING UP TO RS.3,518.60 MILLION (THE "OFFER"). THE OFFER WILL CONSTITUTE 25% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY FOR DETAILS OF THE EQUITY SHARES OFFERED BY EACH SELLING SHAREHOLDER, SEE "DEFINITIONS AND ABBREVIATIONS - OFFER RELATED TERMS" ON PAGE 2 OF THE PROSPECTUS.
BID/OFFER OPENED 0N FRIDAY SEPTEMBER 5, 2014 AND CLOSED ON TUESDAY SEPTEMBER 9, 2014*.
* Anchor Investor Bid/offers was one Working Day prior to the Bid/Offer Opening Date.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE OFFER
PRICE IS RS.156 PER EQUITY SHARE AND IS 15.6 TIMES THE FACE VALUE OF THE EQUITY SHARE.
The Offer was made in accordance with Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rutes, 1957, as amended ("SCRR") this is an Offer for at least 25% of the post- offer capital. The Offer-is being made through the Book Building Process wherein 50% of the offer shall be available for Allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"), provided that our Company and the Selling Shareholders may allocate up to 30% of the QIB Category to Anchor Investors on a discretionary basis. 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Calegory shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the offer shall be available for allocation on a proportionate basis to Non intitutional Investors and not less than 35% of the offer shall be available for allocation to Retail Individual Investors in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, may participate in this Offer through an Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank accounts which will be blocked by SCSBs. QIBs (except Anchor Investors) and Non-Institutional Investors are mandatorily required to utilise the ASBA process to participate in this Offer Kindly note that Allotment, amongst other conditions mentioned in the Prospectus, shall be undertaken upon receipt of Bids equivalent to at least 25% of the offer (including Bids received under the Anchor Investor Portion) from Mutual Funds and/or Insurance Companies. For details, see "offer Procedure" on page 414 of the Prospectus. The Company and the Selling Shareholders, in consultation with the BRLMs. have Allotted 3,383,101}of Equity Shares of the QIB Category to Anchor investors at offer Price of Rs.156 per Equity Share on a discretionary basis in accordance with the SEBI Regulations.
The Offer received 314 ,450 applications for 1,155,101,310 Equity Shares (before technical rejections) resulting in 51.21 times subscription. The details of the applications received In the offer from various categories are as under:
A summary of the final demand as per the BSE and the NSE as on the Bid/Offer Closing Date at different Bid prices is as under:
The Basis of Alotment was finalized in consultation with the Designated Stock Exchange, being NSE on September 17,2014. A. Allocation lo Retail Individual Investors (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at or above the Offer Price of Rs 156 per Equity Share was finalized in consultation with NSE. The category has been susbscribed to the extent of 5.68 times. The total number of Equily Shares Allotted in this category is 7.894.294 Equily Shares to 87.714 sucessful applicants. The category- wise details of the Basis of Allotment are as under;
^ 1 additional Share shall be allotted to 34 Allottees frorn amongst 9838 successful Applicants frorn the categories 180-1260(I.e.excptig Successful applicants for category 90) in the ratio of 17:4919.
B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non-institutional Investors, who have Bid at or above the Offer Price of Rs 156 per Equity Share, was. finalized on a proportionate basis, in consultation with NSE. This category has been subscribed to the extent of 251.48 times. The total number of Equity Shares Allotted in this category is 3,383,269 Equity Shares to 265 successful applicants. The category -wise details of the Basisof Allotment are as under:
C. Allocation to QIBs (excluding Anchor Investors)
The Basis of Allotment to QIBs who have Bid at or above the offer Price of Rs.156 per Equity Share has been done on a proportionate basis, in consultation with NSE. This calegory has-been subscribed to the extent of 31.93 times. As per the SEBI Regulations, Mutual Funds were Allocated 5% of the equity shares available i.e.394,724 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds, were Allocated the remaining; available Equity Shares i.e. 7,499,737 Equily Shares to 121 applicants. The category-wise details of the basis of Allotment are as under
88 Bids of 84,266,370 equity shares Frorn Mutual Funds and Insurance Companies (including Bids received under the Anchor Investor Portion) have been received in the Offer, this is more than 25% of the offer i.e. 22,555,124* 25% i.e. 5,638,731 Equrtry Stares. Hence the requirement as mentioned in the Prospectus that "Allotment of Equity Shares pursuant to the Offer will be undertaken only upon receipt of Bids equivalent to at least 25% of the offer (including Bids received under the Anchor investor Portion) from Mutual Funds and/ or insurance Companies" is complied with.
D. Allocation to Anchor Investors
The Company and the Selling Shareholders in consultation with the BRLMs have Allotted 3,383,100 Equity Shares (as against 3,383,268 being 30% of the QIB Category) to 18 Anchor Investors at the Offer Price of Rs.156 per Equity Shares in accordance with the SEBI Regulations. The balance in the category i. e. 3,393,268 - 3,383,100 i.e. 168 equity shares were available for allocation in the Net QIB category.
The IPO Committee of the Company at its meeting held on September 17,2014, has also approved the Basis of Allotment of the Equity Shares and Allotted the Equity Shares to various successful applicants.
The Allotment Advice-cum-Refund Orders & CAN-curn-Refund Orders and/ or notices have been dispatched on September 19,2014 to the address of the investors as registered with the depositories. Further, Instructions to the Self Certified Syndicate Banks have been dispatched/mailed on September 16,2014. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The Equity Shares Allotted to the successful applicants have been credited on September 13,2014 to their beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company is taking steps for completion of the necessary formalities to get the Equity Shares admitted for trading on the BSE and the NSE within twelve working Days from the Bid/Offer Closing Date.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 13,2014 filed wilh the Registrar of Companies. Maharashtra at Murnbai.
INVESTORS PLEASE NOTE
These details of allotment made shall be hosted on the website of registrar
to the offer, Karvy Computershare Private Limited at http://karisma.karvy.com
Karvy Computershare Private Limited
Plot no. 17 to24, Vithal Rao Nagar, Madhapur, Hyderabad 500 081, India
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIV FOF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF SHARDA CROPCHEM LIMITED.
Sharda Cropchem Limited is proposing, subject to the receipt of requisite approvals, market conditions, and other considerations, to make public offer of equity shares and has filled the Prospectus with the Registrar of Companies, Maharashtra at Mumbai. The Prospectus is available on the website of SEBI and the BRLMs at www.sebi.gov.in, www.edelweissfin.com and www.idfccapital.com respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same-, see the- section titled "Risk Factors" on page 18 of the Prospectus.
This material is not an offer of securities for sale in the United States or elsewhere. The equity Shares of the Company are not being registered under the Securities Act of 1933. as amended (the 'U.S. Securities Act"), or any U.S. state securities laws, and may not be offerrd or sold within the united States, (as defined in Regulations under the U.S. Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities act and applicable U.S. state securities laws. Accordingly, the Equity Shares are only being offered and sold outside the United States in reliance on Regulations and the applicable laws of each jurisdiction where these offers and sales accour. There will be no public offerings of the equity shares of the Company in the United States. This material may not be published or distributed in the United States.