|Basis of Allotment|
for release in the United States, Canada, Australia or Japan. This is only an
advertisement for information purposes and not a Prospectus announcement. This does not
constitute invitation or offer to acquire, purchase or subscribe for securities. Not for
publication or distribution, directly or indirectly outside India.
DILIP BUILDCON LIMITED
Our Company was incorporated as Dilip Buildcon Private Limited on June 12,2006 as a private limited company under the Companies Act, 1956, with the Registrar of Companies, Madhya Pradesh at Gwalior (the "RoC"). Our Company was converted into a public limited company and consequently, the name of our Company was changed to Dilip Buildcon Limited and a fresh certificate of incorporation was issued by the RoC on August 26,2010. For further details of change in the name and registered office of our Company, please see the section entitled "History and Certain Corporate Matters" on page 179 of the Prospectus dated Augusts, 5,2016 (the "Prospectus").
Registered and Corporate Office: Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar Road, Bhopal 462 016, Madhya Pradesh. Contact Person: Abhishek Shrivastava, Company Secretary and Compliance Officer; Tel: +91 755 4029999; Fax: +91 755 4029998; E-mail: firstname.lastname@example.org; Website: www.dilipbuildcon.co.in; Corporate Identity Number: U45201MP2006PLC018689
OUR PROMOTERS: DILIP SURYAVANSHI, SEEMA SURYAVANSHI, DEVENDRA JAIN AND SURYAVANSHI FAMILY TRUST
BASIS OF ALLOTMENT
Our Company has filed the Prospectus with the RoC. The Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on or about August 11,2016.
PUBLIC ISSUE OF 29,861,976 EQUITY SHARES OF FACE VALUE OF RE 10 EACH (THE "EQUITY SHARES") OF DILIP BUILDCON LIMITED ("OUR COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 219* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 209 PER EQUITY SHARE) AGGREGATING TO RS 6,539.77 MILLION (THE "ISSUE") COMPRISING A FRESH ISSUE OF 19,634,703 EQUITY SHARES AGGREGATING TO RS 4,300 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 1,136,364 EQUITY SHARES BY DILIP SURYAVANSHI, 1,136,364 EQUITY SHARES BY DEVENDRA JAIN (DILIP SURYAVANSHI AND DEVENDRA JAIN, COLLECTIVELY REFERRED TO AS THE "PROMOTER SELLING SHAREHOLDERS") AND 7,954,545 EQUITY SHARES BY BANYANTREE GROWTH CAPITAL, LLC (THE "INVESTOR SELLING SHAREHOLDER") (THE PROMOTER SELLING SHAREHOLDERS AND THE INVESTOR SELLING SHAREHOLDER COLLECTIVELY, THE "SELLING SHAREHOLDERS") AGGREGATING TO RS 2,239.77 MILLION (THE "OFFER FOR SALE" AND TOGETHER WITH THE FRESH ISSUE, THE "ISSUE"). THE ISSUE CONSTITUTES 21.83% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL.
'Anchor Investor Issue Price is Rs 219 per Equity Share.
BID/ISSUE PROGRAMME: BID/ISSUE OPENED ON: AUGUST 1, 2016 | BID/ISSUE CLOSED ON: AUGUST 3,2016 ANCHOR INVESTOR BID/ISSUE PERIOD: JULY 29, 2016
In terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), this is an Issue for at least such percentage of the post-Issue Equity Share capital of ourCompany that will be equivalent to Rs 4,000 million calculated at the Issue Price. The Issue is being made through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI Regulations") wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"), of which our Company and the Selling Shareholders, in consultation with the BRLMs, have allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was 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 Issue Price. Further, not less than 15% of the Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders, other than Anchor Investors, were required mandatorily to utilise the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which were blocked by the Self Certified Syndicate Banks ("SCSBs") to participate in the Issue. For details, please see the section entitled "Issue Procedure" on page 454 of the Prospectus.
The Issue received 331,958 Applications for 456,590,805 Equity Shares (before technical rejections) resulting in 15.2900 times subscription. The details of the applications received in the Issue from various categories are as under (before technical rejections)
# At me upper end of the price bana.
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on August 8,2016.
A. Allotment to Retail Individual Bidders
The Basis of Allotment to the Retail Individual Bidders, who have Bid at Cut-off Price or at the Issue Price of Rs 219 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 2.2893 times. Since the number of Retail Individual Bidders who had submitted valid Bids in the Issue was more than the Maximum Retail Individual Bidders Allottees, the Retail Individual Bidders (in that category) who were allotted minimum Bid Lot have been determined on the basis of draw of lots. The total number of Equity Shares Allotted in this category is 10,451,692 Equity Shares to 160,795 sucessful Retail Individual Bidders. The category-wise details of the Basis of Allotment are as under:
B. Allotment to Non Institutional Bidders (including ASBAApplications)
The Basis of Allotment to the Non-Institutional Bidders, who have Bid at the Issue
Price of Rs 219 per Equity Share, was finalized in consultation with the BSE. This
category has been subscribed to the extent of 80.8251 times. Since the proportionate
allotment for Non Institutional Bidders in a few categories was less than the minimum Bid
Lot per Bidder, the successful Bidders in Non Institutional Bidders category were
determined by draw of lots. The total number of Equity Shares Allotted in this
category is 4,479,297 Equity Shares to 190 successful Non-Institutional Bidders.
C. Allotment to QIBs excluding Anchor Investors
The Basis of Allotment to QIBs who have Bid at the Issue Price of Rs 219 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 10.1310 times. As per the SEBI Regulations, Mutual Funds were Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 298,620 Equity Shares and other QIBs, including Mutual Funds, were Allocated the remaining available 5,673,775 Equity Shares on proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 5,972,395 Equity Shares, which were allotted to 18 successful Bidders.
The category-wise details of the Basis of Allotment are as under:
The Company and the Selling Shareholders in consultation with the BRLMs have Allocated 8,958,592 Equity Shares to 10 Anchor Investors (through 14 Applications) at the Anchor Investor Issue Price of Rs 219 per Equity Shares in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.
D. Allotment to Anchor Investors
The Board of Directors of the Company at its meeting held on August 9, 2016, has taken on record the Basis of Allotment of the Equity Shares approved by the Designated Stock Exchange, being BSE and allotted/transferred, as applicable, the Equity Shares to various successful Bidders.
The AllotmentAdvice-cum-Refund Orders and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued on August 8,2016 and paymentto non-Syndicate brokers have been issued on August 9,2016. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on August 9,2016 for credit into their beneficiary accounts subject to validation of the account details with the Depositories concerned. The Company has filed the listing application with BSE and NSEonAugust 9,2016 and the trading will start on or about August 11,2016.
Note: All capitalized terms used and not defined herein shall have the respective
meanings assigned to them in the Prospectus dated August 5,2016 filed with the Registrar
of Companies, Madhya Pradesh at Gwalior.
These details of the Allotment made shall be hosted on the website of Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole Bidder, Bid cum Application form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application form, address of the Bidder, number of Equity Shares applied for and the name and address of the Designated Intermediary where the Bid cum Application form was submitted by the Bidder at the address given below:
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF DILIP BUILDCON LIMITED.