|Basis of Allotment|
EDUCATION SOLUTIONS LIMITED
(The Company was originally incorporated as 'Jointeca Software Solutions Private Limited" on May 24, 2011 under the Companies Act, 1956. The name of the Company was changed to "Jointeca Education Solutions Private Limited" pursuant to a special resolution passed at the Extraordinary General Meeting held on August 01,2011. Pursuant to conversion of the Company from Private Limited to Public Limited, the name of the Company was changed to "Jointeca Education Solutions Limited" and a fresh certificate of incorporation consequent to change in name was obtained on December 13,2011. (For further details related to change in the name of our Company, please refer to the section titled "History and Corporate Structure" beginning on Page No. 109 of the Prospectus)
Registered Office: 1014, Bagh Bahadhur Chowki Colony, Near SBI
Crossing, Mathura - 281 001, Uttar Pradesh, India Tel: 0565-6000801,2410128; Fax:
0565-2409538 Website: www.jointeca.com;
Promoters of the Company: MR. VISHAL MISHRA, MRS. LAXMI AGRAWAL AND MR. ABHAY GAUTAM
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 35,68,700 EQUITY SHARES OF Rs.10/- EACH ("EQUITY SHARES") ISSUED FOR CASH AT A PREMIUM OF Rs. 5/- PER EQUITY SHARE i.e. AT A PRICE OF Rs.15/- PER EQUITY SHARE AGGREGATING TO Rs. 535.30 LACS ("THE ISSUE") BY JOINTECA EDUCATION SOLUTIONS LIMITED ("THE COMPANY" OR THE "ISSUER") OF WHICH, 5,04,000 EQUITY SHARES OF Rs. 10/- EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (AS DEFINED IN THE PROSPECTUS) (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 30,64,700 EQUITY SHARES OF Rs. 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE FACE VALUE OF THE SHARE IS Rs. 10/- EACH AND THE ISSUE PRICE IS 1.5 TIMES OF THE FACE VALUE. THE ISSUE AND THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 35.69% AND 30.65%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
In terms of the Prospectus dated August 01,2012 and as per regulation 43(4)of the SEBI (ICDR) Regulations, 2009 wherein a minimum of 50% of the net offer of shares to the Public shall initially be made available for allotment to retail individual investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in the other category, if so required.
Explanation: For the purpose of sub-regulation (4), if the retail individual investor category is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.
THE FACE VALUE OF EQUITY SHARES IS Rs.10/- EACH. THE ISSUE PRICE OF EQUITY SHARES IS Rs.15/- EACH AND THE ISSUE PRICE IS 1.5 TIMES OF THE FACE VALUE. ISSUE OPENED ON AUGUST 16,2012 AND CLOSED ON AUGUST 21,2012.
The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of the BSE Limited ("BSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time, we are not required to obtain an in-principal listing approval for the shares being offered in this issue. However, our company has received an approval letter dated July 27, 2012 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE. For the purpose of this Issue, the designated Stock Exchange will be the BSE Limited ("BSE").
All applicants were allowed to participate in the issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks(the "SCSBs").
The Issue was subscribed to the extent of 1.30 times inviting 349 applications for 4640000 shares (including 504000 shares reserved for market maker) as per the Application and ASBA data. After considering 13 cheque Returned cases comprising of 104000 shares and 7 Technical Rejections cases comprising of 56000 shares, the issue was subscribed 1.26 times. The Details of the applications received in the issue (before technical rejections)are as follows:
Detail of the Applications Received (Before Technical Rejection)
Detail of the Applications Received (After Technical Rejection)
ALLOCATION: The basis of allotment for the Issue at the issue price of Rs.15/-
per equity share was finalised in consultation with BSE on 28/08/2012
B) Allocation To Retail Individual Investors (After Technical Rejections): This category was subscribed by 1.68 times. The total number of shares allocated in this category is 19,84,000 Equity Shares. The category wise details of the basis of allotment is as under:
C) Allocation To Non-Retail Investors (After Technical Rejections): This category was subscribed by 0.92 times. The total number of shares allocated in this category is 10,96,000 Equity Shares.The category wise details of the basis of allotment is as under:
The Board of Directors of the company at its meeting held on 28th August, 2012 has taken on record the Basis Of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action forthe Allotment of the Equity Shares to various successful applicants. The CAN-cum-Refund advices and allotment advice and/or notices are being dispatched to the address of the investors as registered with the depositories. Refunds have been made through NECS, Direct Credit, RTGS and NEFT into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address as registered with the depositories. In case the same is not received within ten working days, investors may contact at the address given below. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositaries concerned. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within 12 working days from the closure of the issue.
The trading is proposed tobecommencedonor before 4th September, 2012* 'Subject to receipt of listing and trading approvals from the BSE Limited.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated August 01,2012 ("Prospectus").
INVESTORS PLEASE NOTE:
All future correspondence in this regard may kindly be addressed to the Registrar to the issue 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 given below:
Beetal Financial & Computer Services Private Limited
LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EfTHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF JOINTECA EDUCATION SOLUTIONS LIMITED
Jointeca Education Solutions Limited, is proposing, subject to market conditions and other considerations, a public issue of equity shares and has filed the Prospectus with the Registrar of companies, Kanpur, Uttar Pradesh. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Lead Manager at www.ajcononline.com and the website of BSE at www.bseindia.com. The investors should note that investing in equity shares involves a high degree of risk and for details relating to the same, see section titled "Risk Factors"on Page No. 12 of the Prospectus. This document is not an offer of securities for sale in the United States or elsewhere. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any State Securities Laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of U.S persons (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. State Securities Laws.