|Basis of Allotment|
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Innovators Facade Systems Limited
Our Company was originally incorporated as "Innovators Engineers & Contractors Private Limited" at Mumbai, Maharashtra, as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated June 8,1999 bearing Registration Number 11-120229 issued by Assistant Registrar of Companies, Maharashtra, Mumbai. The name of our Company was changed from Innovators Engineers & Contractors Private Limited to Innovators Facade Systems Private Limited vide Fresh Certificate of Incorporation dated July 19,2005 issued by Assistant Registrar of Companies, Belapur, Navi Mumbai. Our Company was converted to Public Limited Company pursuant to shareholders resolution passed at Extraordinary General Meeting of our Company held on January 29,2018 and the name of our Company was changed to Innovators Facade Systems Limited and a Fresh Certificate of Incorporation consequent upon conversion of Company to Public Limited dated February 15,2018 was issued by Registrar of Companies, Maharashtra. The Corporate Identification number of our Company is U45200MH1999PLC120229.For further details of change of name and registered office of our Company, please refer to chapters titled "General Information" and "Our History and Certain Other Corporate Matters" beginning on page 73 and 173, respectively of this Prospectus.
Registered Office: 204, B-65, Sector No 1, Shanti Nagar, Mira Road
(East), Thane- 401107, Maharashtra, India Corporate Identification Number:
U45200MH1999PLC120229 Tel: 022- 28132151 Fax: 022- 28132151
PROMOTERS OF OUR COMPANY: RADHESHYAM SHRMA AND JOLLY MILTITRADE PRIVATE LIMITED.
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF 56,60,800* EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 72/- PER EQUITY SHARE (" THE ISSUE PRICE"), (INCLUDING A SHARE PREMIUM OF RS. 62/- PER EQUITY SHARE), AGGREGATING RS. 4,075.78 LAKHS ('THE ISSUE"), OF WHICH 2,88,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 72/- PER EQUITY SHARE, AGGREGATING RS. 207.36 LAKHS WAS RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 53,72,800 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 72/- PER EQUITY SHARE, AGGREGATING RS. 3,868.42 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.00 % AND 28.48 % RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.Risks to Investors:
I. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Radheshyam Sharma and M/s. Jolly Multitrade Private Limited is Rs. 12.72 and Rs. 37.08 respectively.
II. This being the first public Issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs. 10 each. The Floor Price is 7.1 times the face value and the Cap Price is 7.2 times the face value. The Issue Price (determined and justified by our Company in consultation with the BRLM as stated in "Basis for Issue Price" on page 118 of the Prospectus should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
All Investors have participated in this Issue through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 278 of the Prospectus.
THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company. The Issue is being made in accordance with Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time ("SEBI (ICDR) Regulations"), wherein 49.97 % of the Net Issue was available for allocation on a proportionate basis to QIBs, provided that our Company, in consultation with the BRLM allocated 59.95% 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. In the event of under-subscription in the Anchor Investor Portion, the remaining Equity Shares shall be added to the QIB Portion. 5.00% 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 (excluding Anchor Investor Portion) was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, 15.01 % of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Investors and 35.02% of the Net Issue was available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All investors (except Anchor Investors) participated in this Issue mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing details of their respective bank accounts which were blocked by SCSBs. For further details please refer the section titled 'Issue Information' beginning on page 264 of this Prospectus. The Equity Shares of our Company issued through the Prospectus are proposed to be listed on BSE Limited, in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. Our Company has received an in principle approval letter dated April 19,2018 from BSE Limited for using its name in the Issue document for listing of our shares on BSE Limited. For the purpose of this Issue, SME Platform of BSE Limited shall be the Designated Stock Exchange.
The Issue has received 23720 applications for 12,81,13,600 Equity shares (Before Technical Rejections, Multiple Rejections, but after bids not banked, invalid duplicate and invalid multiple bids) including Market Maker Application of 2,88,000 Equity Shares. The issue was subscribed to the extent of 22.63 times as per the application data (before technical rejection, multiple rejections, but after bids not banked, invalid duplicate and invalid multiple bids). After considering the technical rejections cases and multiple rejection cases, the issue was subscribed 22.54 times. The details of application received (Before Technical Rejections, Multiple Rejections, but after bids not banked, invalid duplicate and invalid multiple bids)
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - SME Platform of BSE Limited on May 21,2018
A. Allocation to Market Maker (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 72/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,88,000 Equity shares in full out of reserved portion of 2,88,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections and Multiple Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 72/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 19.76 times. Total number of shares allotted in this category is 18,81,600 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Non Institutional Investor (After Technical Rejection and Multiple Rejections): The Basis of Allotment to Non Institutional Investors, at the issue price of Rs. 72/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 91.96 times. Total number of shares allotted in this category is 8,06,400 Equity Shares. The category wise basis of allotment is as under:
*there were 1 applications for 4,92,800 Equity Shares bided by QIB in Nil category hence, the said applications have been shifted to QIB Category and there were 3 applications for 3,53,600 Equity Shares bided by Nil in QIB category hence, the said applications have been shiftedto Nil Category.
D. Allocation to Qualified Institutional Investor (Excluding Anchor Investors and After Technical Rejection and multiple rejections)Allotment to QIBs, who have bid at the Issue Price of 72/- per Equity Share, has been done on a proportionate basis in consultation with the BSE Limited. This category has been subscribed to the extent of 12.28 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were to be allotted 5% of the Equity Shares of Net QIB portion available i.e. 53,760 Equity Shares. No applications have been received in Mutual fund category and hence 53,760 shares from Mutual fund category has been spilled over.
*There were 3 applications for 3,53,600 Equity Shares bided by Nil in QIB category hence, the said applications have been shifted to Nil Category and 1 application for 4,92,800 Equity Shares bided by QIB in Nil category hence, the said applications have been shifted to QIB Category
The category -wise details of the Basis of Allotment are as under:
E. Allocation to Anchor Investors
The Board of Directors of the Company at its meeting held on May 22,2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The Allotment cum refund advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs have been issued on May 22, 2018 for unblocking of funds. 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. 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 the BSE Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before May 24,2018 subject to receipt of listing and trading approvals from BSE.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar 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 of the Registrar given below:
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 INNOVATORS FACADE