|Basis of Allotment|
Our Company was incorporated on February 11, 2005, as Gallantt Ispat Limited under the Companies Act, 1956 at Kolkata, West Bengal, with CIN U27109 WB2005PLC101650 of 2005 with the Registrar of Companies, West Bengal. On February 11, 2008 our Registered Office was shifted from 21, Hemant Basu Sarani. 3rd Floor, Room No-306, Kolkata-700001 to Ashyana, 29C, Bentinck Street, Kolkata - 700 069, West Bengal, India. Further, on June 24, 2010 our Registered Office was shifted to 11, Crooked Lane, Second Floor, Kolkata - 700069, our current address. The Promoters of our Company are Mr. Chandra P. Agarwal, Mr. Pram P. Agarwal, Mr. Nitin M. Kandoi, M/s Chandra Prakash Agarwal & Sons HUF and Gallantt Metal Limited.
Registered Office : 11, Crooked Lane, Second Floor, Kolkata - 700069, West Bengal, India. Tel: +91 33 22312429; Fax : +91 33 22312429: Contact Person/ Compliance Officer: Mr. Nitesh Kumar, Company Secretary and Manager-Accounts and Finance; E-mail: firstname.lastname@example.org; Website : www.gallantt.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 81,00,000 EQUITY SHARES OF RS. 10(- EACH FOR CASH AT A PRICE OF RS. 50/-PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.40/-PER EQUITY SHARE AGGREGATING TO RS. 4,050 LACS (HEREIN AFTER REFERRED TO AS THE "ISSUE"), BY GALLANTT ISPAT LIMITED (THE "COMPANY" OR THE "ISSUER"). THE ISSUE COMPRISES 14,00,000 EQUITY SHARES FOR SUBSCRIPTION BY PROMOTER CONTRIBUTION AND NET OFFER TO THE PUBLIC OF 67,00,000 EQUITY SHARES RS 10/- EACH. THE ISSUE WOULD CONSTITUTE 30.26% OF THE FULLY POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. THE NET ISSUE TO PUBLIC WILL CONSTITUTE 25.02% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY
The Face Value of the Equity Shares is Rs. 10/- each and the Issue Price is 5 (Five) time the Face Value.
The Board of Directors of GALLANTT ISPAT LIMITED wish to thank the investing public, for their response to the Issue which opened for subscription on Wednesday, September 22, 2010 and closed on Friday, September 24, 2010. The Issue has received 4255 applications for 97,57,000 Equity Shares resulting in 1.44 times subscription. The details of the Applications received in the Issue (before technical rejections) are as under;
In terms of the prospectus dated 15.09.2010, page no. 274 and also as per the SESI Regulations,
The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - Bombay Stock Exchange Limited, ("BSE") on 5th October 2010,
A. Allocation to Retail Individual Investors (After Technical Rejections)
B. Allocation to Non Institutional Investors (After Technical Rejections)
C. Allocation to Qualified Institutional Investors (QIBs) (Minimum 10%)*
*Balance added to Non Institutional Category
The Committee of Directors of the company at its meeting held at Kolkata on October, 05. 2010 has approved the Basis of Allotment of Shares of the issue and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and/ or notices are being dispatched to the address of the Bidders as registered with the depositories on 8th October, 2010. Further, the instructions to Self Certified Syndicate Banks have been dispatched on or prior to 8th October 2010. In case the same is not received within 10 days, investors may contact 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 allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within four working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Niche Technologies Pvt Ltd at www.nichetechpl.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First / Sole applicants, 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 of the Registrar given below:
Niche Technologies Private Limited
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 GALLANTT ISPAT LIMITED