|Basis of Allotment|
is only an advertisement for information purpose and not a Prospectus announcement)
JASH ENGINEERING LIMITED
Our Company was incorporated as Jash Engineering Industries Private Limited under the provisions of Companies Act 1956 vide Certificate of Incorporation dated September 29,1973 at Indore. Subsequently, the name of the Company was changed to Jash Engineering Private Limited vide Certificate of Incorporation dated January 29,1976 in Indore. In furtherance to this, the name of the Company was changed to Jash Engineering Limited pursuant to section 23 of the Companies Act, 1956 and the special resolution passed by the members of the Company at its Extra-Ordinary General Meeting held on July 15,1994. A fresh certificate of incorporation consequent to change of name was issued to the Company stating the new name Jash Engineering Limited. The corporate identity number of the Company is U28910MP1973PLC001226. For details of Incorporation, Change in the Name and Registered Office of our Company please refer to chapters titled "General Information" and "History and Certain Other Corporate Matters" beginning on pages 57 and 161 of the Prospectus.
Registered Office: 31, Sector-C, Sanwer Road,
Industrial Area, Indore - 452015, Madhya Pradesh.
PROMOTERS OF OUR COMPANY: MR. LAXMINANDAN AMIN, MR. PRATIK PATEL,
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFERING OF 40,00,800 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUFTY SHARES") OF JASH ENGINEERING LIMITED (OUR "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 120 PER EQUFTY SHARE INCLUDING A SHARE PREMIUM OF RS 110 PER EQUTTY SHARE (THE "OFFER PRICE"), AGGREGATING TO RS 4800.96 LAKH (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 22,61,198 EQUITY SHARES BY OUR COMPANY AGGREGATING TO RS 2713.43 LAKH (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 17,39,602 EQUITY SHARES AGGREGATING TO RS 2087.52 LAKH BY PRAGATI INDIA FUND LIMITED, (THE "SELLING SHAREHOLDER") ("OFFER FOR SALE") AND TOGETHER WITH FRESH ISSUE ("THE OFFER"). THE OFFER COMPRISES OF 2,00,400 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 120 PER EQUITY AGGREGATING UP TO RS 240.48 LAKHS IS RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. 38,00,400 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 120 PER EQUTTY SHARE, AGGREGATING RS 4560.48 LAKH IS HEREIN AFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 33.80% AND 32.11%, RESPECTIVELY OF THE POST OFFER 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. Mr. Laxminandan Amin is Rs 15.39, Mr. Pratik Patel is Rs 18.06, Mrs.
Bhairavi Patel is Rs 19.73 and Mr. Harsh Patel is NIL. In terms of Prospectus dated
October 04,2017 and as per SEBI (ICDR) Regulations, 2009 wherein
THE OFFER 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"). For further details please refer the section titled "Offer Information" beginning on page 389 of the Prospectus.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH.
OFFER OPENED ON THURSDAY, SEPTEMBER 28, 2017 AND CLOSED ON
The Equity Shares of the Company offered through the Prospectus are proposed to be
listed on EMERGE Platform of National Stock Exchange of India Limited. In terms of the
Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, the Company
has received an in-principal approval letter dated September 15,2017 from National Stock
Exchange of India Limited for using its name in the Offer Document for listing of
its shares on EMERGE Platform of National Stock Exchange of India Limited. For the purpose
of this Offer, EMERGE Platform of National Stock Exchange of India imited shall be the
Designated Stock Exchange.
The Offer has received 2,449 applications for 18,886,800
Equity Shares resulting in 4.80 times subscription (including reserved
portion of Market Maker). The details of the applications received in the Offer (before
technical rejections) are as follows:
The details of applications rejected by the Registrar on technical grounds are detailed
b) Non-Institutional Applicants:-
c) Market Maker Portion - Nil
B. Allocation to Market Maker (After Technical Rejections):
The Basis of Allotment to the Market Maker, at the Offer price of Rs120/- per Equity
Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times.
The total number of shares allotted in this category is 2,00,400 Equity Shares in full out
of reserved person of 2,00,400 Equity shares.
D. Allocation to Other than Retail Investors (After Technical Rejections): The Basis of Allotment to the other than Retail Individual Investors, at the Offer price of Rs 120/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 18.82 times. The total number of shares allotted in this category is 5,70,000 Equity Shares. The Category-wise details of the Basis of Allotment are as under:
The IPO Committee of the Company at its meeting held on October 07,2017 has taken on
record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange
viz. National Stock Exchange of India Limited and has authorized the corporate action for
the transfer of the Equity Shares 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 Self Certified Syndicate
Banks shall be issued on to October 07,2017 for unblocking of funds. In case the same is
not received within four working days, investors may contact Registrar at the address
given below. 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 Emerge Platform of NSE within six working days from the date of the closure of
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Offer, LINKINTIME INDIA PRIVATE LIMITED at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar to the Offer 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:
LINKINTIME INDIA PRIVATE LIMITED
THELEVELOF SUBSCRIPTION SHOULD NOT BETAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF THE JASH ENGINEERING LIMITED.