|Basis of Allotment|
is a public announcement for iiformation purposes only and is not a prospectus
announcement. This does not constitute an invitation or offer to acquire, purchase or
subscribe for securities.Not for iease, publication or distribution directly or indirectly
MAS FINANCIAL SERVICES LIMITED
Our Company was incorporated as 'MAS Financial Services Limited',, a public limited company under the Companies Ad, 1956, with a certificate of incorporation issued by the Assistant Registrar of Companies, Gujarat (Dadra & Nagar Haveli) on May 25,1995 at Ahmadabad. Our Company received a certificate for commencement of business on May 29,1995 from the Assistant Registrar of Companies, Gujarat (Dadra & Nagar Haveli).
Registered and Corporate Office; 6 Narayan Chambers Ground Floor. Behind Patang Hotel, Ashram Road, Ahmedabad 380 009, Gujarat, India; Telephone; +91 79 3001 6500; Facsimile; +91 79 3001 6597; Contact Person: Nirav Prakashchandra Patel, Company Secretary and Compliance Officer;Telephone: + 91 793001 6638, Facsimile: +91 793001 6561. E-mail: email@example.com Website:www.mas.co.in; www.mas.co.in; Corporate Identity Number: U65910GJ1995PLC026064
PROMOTERS OF OUR COMPANY: KAMLESH CHIMANLAL GANDHI MUKESH CHIMANLAL GANDHI, SHWETA KAMLESH GANDHI AND PRARTHNA MARKETING PRIVATE LIMITED
BASIS OF ALLOTMENT
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 October 18,2017.
INITIAL PUBLIC OFFERING OF 10,039,277 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES") OF MAS FINANCIAL SERVICES LIMITED (OUR 'COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 459 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 449' PER EQUITY SHARE (THE 'OFFER PRICE"), AGGREGATING TO RS 4,600,42 MILLION (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 5,092,829 EQUITY SHARES BY OUR COMPANY AGGREGATING TO RS 2.330 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 2,454.532 EQUITY SHARES AGGREGATING TO RS 2,270.42 MILLION BY THE SELLING SHAREHOLDERS, COMPRISING AN OFFER FOR SALE OF 2,454,532 EQUITY SHARES AGGREGATING TO RS 1,126.63 MILLION BY DEG - DEUTSCHE INVESTITIONS - UND ENTWICKLUNGSGESELLSCHAFT MBH ("DEG"), AN OFFER FOR SALE OF 1,728,496 EQUITY SHARES AGGREGATING TO RS 793.38 MILLION BY NEDERLANDSE FINANCIERINGS - MAATSCHAPPIJ VOOR ONTWIKKELINGSLANDEN N. V. ("FMO") AND AN OFFER FOR SALE OF 763,420 EQUITY SHARES AGGREGATING TO RS 350.41 MILLION BY SARVA CAPITAL LLC ("SARVA CAPITAL1", AND TOGETHER WITH DEG AND FMO, THE "SELLING SHAREHOLDERS") ("OFFER FOR SALE"), THE OFFER INCLUDES A RESERVATION OF 169.082 EQUITY SHARES AGGREGATING TO RS 70 MILLION FOR ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION'), THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE 'NET OFFER". THE OFFER AND THE NET OFFER SHALL CONSTITUTE 18.37 % AND 18.06 % OF THE POST-OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY, RESPECTIVELY.
Our Company has, in consultation with the BRLM, undertaken a private placement of
3,990,422 Equity Shares for cash consideration aggregating to Rs 1,350.00 million
("Pre-IPO Placement"), The size of the Fresh Issue, as disclosed in the Draft
Red Herring Prospectus, has been reduced accordingly. See "Capital Structure' on page
76 of the Prospectus for details of the Pre-lPO Placement.
THE OFFER PRICE : RS 459 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
Risks to Investors:
i. The BRLM associated with the Offer has handled 10 public issues in the past three
years out of which 3 issues closed below the issue price on listing date.
Tie Offer has been made in terms of Rule 19(2)(b)(iii) of the SCRR, thraugh the
Book Buiding Process in accordance with Regulation 26(1) of the Securities and Exchange
Board of India (Issue of Capital and Disclosure Requirements) Regulation 2009. as amended
(the'SEBIICDR Regulations"), wherein not more than 50% of the Net
Offer was made available for allocation on a proportionate basis to Qualified
Institutional Buyers ('(QIBs"). Our Company and the Selling
Shareholders in consultation with the BRLM allocated 60% of the QIB Portion to Anchor
Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which
at least one-third was reserved for domestic Mutual Funds. subject to valid Bids being
receives from domestic Mutual Funds at or above the Anchor Investor Allocate Price- In the
event of undersubscription or non-allocation in the Anchor Investor Portion, the balance
Equity Shares shall be added to the Net QIB Portion. Such number of Equity Shares
representing 5% of the Net QIB Portion (other than Anchor Investor Portion) were available
for allocation on a preportionate basis to Mutual Fund only. The remainder'of the Net QIB
Portion was available for allocation on a proportionate basis to QIBs (other than Anchor
investors), including Mutual Funds., subject to valid Bids being received from them at or
above the Offer Price. Further not leas than 15% of the Net Offer was available for
allocation on a proportionate basis to Non Institutional Bidders and. not less than 35% of
the Net Offer was available for allocation to Retail Individual Bidders in accordance with
the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the
Offer Price such that, subject to availability of Equity Shares, each Retail Individual
Bidder shall be Allotted not less than the minimum Bid Lot. and the remaining Equity
Snares. if available, shall be allotted to s Retail Individual Bidders on a proportionate
basis. Further, 169,082 Equity Shares aggregating up to Rs 70 milion were offered for
allocation and Allotment on a proportionate basis to the Eligible Employees Bidding in the
Employee Reservation Portion, conditional upon valid Bids being received from them at or
above the Offer Price. All Bidders, other than Anchor Investors, participated in the Offer
mandatorily through the Applications Supported by Blocked Amount ("ASBA")
process by providing thedetais of their respective bank accounts in which the
corresponding Bid Amount were blocked by the SCSBs Anchor Investors were not permitted to
participate in the Offer through the ASBA process For details, see 'Offer Procedure' on
page 431 of the Prospectus.
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 Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on October 14,2017.
A. Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications): The Base of Allotment to the Retail Individual Investor, who have Bid at Cut-off Price or at the Offer Price of Rs 459 per Eojuily Share was finalized in consultation with NSE. The category has been subscribed to the extent of 15.1321 times The total number of Equity Shares Allotted in this category is 3.454,569 Equity Shares to 107,955 successful applicants.The category-wise details of the Basis of Allotment are as under:
B. Allotment to Non Institutional Investors (After Technical Rejections)
(Including ASBA Applications): The Basis of Allotment to the Non-Institutional
Investors, who have Bid at the offer Price of Rs 459 per Equity Share, was finalized in
consultation with the NSE. This category has been subscribed to the extent of 350.1994
times. The total number of Equity Shares Allotted in this category is 1.480,530 Equity
Shares to 31 successful applicants.
C. Altotment to QIBs (After Technical Rejections): The Basis of Allotment to QIBs who have Bid at the Offer Price of Rs 459 per Equity Share has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 149.29 times of the QIB Portion. As per the SEBI ICDR Regulations, Mutual Funds were Allocated 5% of the Equity Shares of the Net QIB Portion available i.e. 96,702 Equity Shares and other QIBs. including Mutual Funds were Allocated the remaining available 1,875,337 Equity Shares comprising the Net QIB Portion on proportionate basis. The total number of Equity Shares allotted in the Net QIB Portion is 1.974.039 Equity Shares. which were allotted to 134 successful Applicants. The category-wise details of the Basis of Allotment are as under:
D. Allotment to Anchor Investors
The Company in consultation with the BRLM has Allocated 2,961.057 Equirty Shares to 15
Anchor investors through 21 Applications at the Anchor Investor Offer Price of Rs 459 per
Equity Shares in accordance with the SEBI Regulations. This represents 60% of the QIB
The Board of Directors of the Company at its meeting' held on October 16.2017. has
approved the Basis of Allotment of the Equity Share approved by the Designated Stock
Exchange, being NSE and Allotted the Equity Shares to various successful Bidders.
These details of the Allotment made shall be hosted on the website of Registrar to the
Offer Link Intime India Private Limited at www.linkintime.co.in
Link Intime India 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 MAS FINANCIAL SERVICES LIMITED.