Basis of Allotment

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(This is only an advertisement for Information purposes and not a Prospectus announcement.)

GCM SECURITIES LIMITED

Our Company was incorporated as 'GCM Securities Limited' a public limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated May 2,1995 bearing registration number 21-71337 of 1995 issued by the Registrar of Companies, West Bengal. Our Company received the Certificate of Commencement of Business on May 10,1995 issued by the Registrar of Companies, West Bengal. Our corporate identification number is U67120WB1995PLC071337. For further details of our Company, please refer to the chapters titled 'General Information' and 'History and Certain Corporate Matters' beginning on page numbers 30 and 79 respectively, of the Prospectus.

Registered Office: 3B, Lal Bazar Street, Sir R N M House, 5th Floor, Kolkata - 700 001, West Bengal
Tel: +9133 22481053/9908, Fax: +9133 3028 5807, Website: www.gcmsecuritiesltd.com, E-mail: gcmsecu.kolkata@gmail.com Corporate Office: 805, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai - 400 021; Tel: +9122 3023 5727,
Fax: +91 22 30201364
Company Secretary and Compliance Officer: Ms. Pooja Bhartia

OUR PROMOTERS: Mr. Inder Chand Baid, Mrs Saroj Baid, Mr. Manish Baid, Mr. Samir Baid and Global Capital Market & Infrastructures Limited

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 60,90,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") OF GCM SECURITIES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS.20 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS.10 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS.1,218 LACS ("THE ISSUE"), OF WHICH 3,30,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 57,60,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH FOR CASH AT A PRICE OF RS.20 PER EQUITY SHARE AGGREGATING RS.1,152 LACS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 32.07% AND 30.33% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE "SEBI REGULATIONS"), OUT OF THE NET OFER OF 57,60,000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVALABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVESTORS AND OTHER INVETORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORTIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE

THE FACE VALUE OF THE EQUITY SHARES IS RS.10 EACH AND THE ISSUE PRICE OF RS.20 IS 2 TIMES OF THE FACE VALUE
ISSUE OPENED ON MONDAY, MARCH 18,2013 AND CLOSED ON WEDNESDAY, MARCH 20,2013

PROPOSED LISTING

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of 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 March 6,2013,2012 from BSE for using its name in this Prospectus for listing of our Equity Shares on the SME Platform of BSE. For the purpose of this Issue, BSE shall be the Designated Stock Exchange. The trading is proposed to be commenced with effect from Friday, April 5,2013*.

*Subject to receipt of listing and trading approvals from the BSE Limited.

This being a Fixed Price Issue, the allocation in the Net Offer to the Public category is made in terms of Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, where in a minimum of 50% of the Net Issue shall initially be made available for allotment to Retail Individual Investors. The balance Net Issue shall be made available for allotment to individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies/ Institutions Irrespective of number of shares applied for. The unsubscribed portion of the Net Issue to any one of the categories specified above shall/may be made available for allocation to Applicants in the other category, if so required. If the retail individual investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. 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").

SUBSCRIPTION DETAILS

The Issue has received 1617 applications for 1,49,70,000 Equity Shares resulting in 2.46 times subscription (Including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections and after cheque returns) are as follows:

Details of the Applications Received (Before Technical Rejections)

Category No.
of Applications
% No. of
Equity Shares
% Subscription
Market Maker 1 0.06 3,30,000 220 1
Retail Individual Applicant 1388 85.84 83,28,000 55.63 289
Other than Retail Applicant 228 14.10 63,12,000 4216 219
Total 1617 100.00 1,49,70,000 100.00 2.46

The details of applications rejected by the Registrar on technical grounds / withdrawal are detailed below:
Technical rejection / Withdrawal

CATEGORY NO. OF
APPLICATIONS
NO. OF
EQUITY SHARES
Market Maker Nil Nil
Retail Individual Applicant 57 342000
Other than Retail Applicant 10 318000
Total 67 660000

After eliminating Technically Rejected applications, the following table gives the details of Category wise net valid applications:
After technical rejections

CATEGORY NO. OF APPLICATIONS % NO. OF
EQUITY SHARES (VALID)
% SUBSCRIPTION NO. OF
EQUITY SHARES (ALLOTEO)
Market Maker 1 0.06% 330000 2.31% 1 3,30,000
Retail Individual Applicant 1331 85.87% 7986000 5531% 242 32,94.000
Other than
Retail Applicant
218 14.06% 5994000 41.89% 242 24,72,000
Total 1550 100.00% 14310000 100.00% 235 60,96,000

The Basis of Allotment was finalized In consultation with the Designated Stock Exchange - BSE Limited on April 02,2013.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the Issue price of Rs.20/- per Equity Share, was finalised In consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted In this category Is 3,30,000 Equity Shares.
B. Allocation to Retail Individual Invasion (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs.20/- per Equity Share, was finalised In consultation with BSE. The category was subscribed by 2.42 times. The total number of shares allotted In this category Is 32,94,000 Equity Shares.
* The retail category has applied for 57.12% of the valid applications under the net offer to public. Further owing to rounding off, 3631 additional shares have been apportioned to be allotted to retail Investors.

The Category-wise details ol the Basis of Allotment are as under:

No. of Shares
applied
for
(Category wise)
No. of
Applications
Receives
% to
total
Total No. of
Shares Applied In each category
% of
total
Proportionate
Shares
Available
Allocation Par
Applicant Before
Rounding
Off
Allocation Per
Applicant After Rounding
Off
Ratio of
Allottees to Applicants
Total No. of
Sharas
Allotted
Surplus/
Defecit
6000 1331 100.00 7986000 100.00 3294000 2,474.83 6000 7:17 3294000 -
Total 1331 100 7986000 100 3294000 3294000 -

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the Issue price of  Rs.20/-per Equity Share, was finalised In consultation with BSE. The category was subscribed 2.42 times. The total number of shares allotted In this category Is 24,72,000 Equity Shares.

^ The non-retail category has applied for 42.86% of the valid applications under the net offer to public. Further owing to rounding off, 2369 additional shares have been apportioned to be allotted to the non retail Investors.

The Category-wise details of the Basis of Allotment are as under:

No. of Shares applied tor (Category wise) No.Of Applications Receives % to total Total No. of Shares Applied In each category % of total Proportionate Shares Available Allocation Par Applicant Before Rounding Off Allocation Par Applicant After Rounding Off Ratio of Allottees to Applicants Total No. of Shares Allotted Surplus/ Defecit
12000 102 46.79 1224000 20.42 504793 4,948.95 6000 5:6 510000 5207
18000 44 20.18 792000 13.21 326631 7,423.42 6000 1:1 264000 -62631
24000 36 17.43 912000 1522 376120 9,897.90 12000 1:1 456000 79680
30000 4 1.83 120000 2.00 49489 12,372.37 12000 1:1 48000 -1489
36000 3 1.38 108000 1.80 44541 14,846.85 12000 1:1 36000 -8541
42000 3 158 126000 2.10 51964 17,321.32 18000 1:1 54000 2036
48000 4 1.83 192000 3.20 79183 19,795.80 18000 1:1 72000 -7183
54000 3 1.38 162000 2.70 66811 22,270.27 24000 1:1 72000 5189
60000 7 3.21 420000 7.01 173213 24,744.74 24000 1:1 168000 -5213
90000 3 1.38 270000 4.50 111351 37,117.12 36000 1:1 108000 -3351
228000 2 0.92 456000 7.61 188060 94,030.03 96000 1:1 192000 3940
234000 2 0.92 468000 7.81 193009 96,504.50 96000 1:1 192000 -1009
240000 2 052 480000 8.01 197956 98,978.98 96000 1:1 192000 -5958
264000 1 0.46 264000 4.40 108877 1,08,676.88 108000 1:1 108000 -877
Total 218 100.00 59,94,000 100.00 2472000 2472000 -

The Board of Directors of the Company at Its meeting held on April 3,2013 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories on April 4,2013. Further, the Instructions to Self Certified Syndicate Banks have been dispatched on or prior to April 3,2013. In case the same Is not received within 10 days, Investors may contact at the address given below. Refunds have been made through 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 days, Investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Mandate 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 SME Platform of BSE Limited within twelve working days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them In the Prospectus dated March 7,2013 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Purva Sharegistry (India) Private Limited at www.purvashare.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:

Purva Sharegistry (India) Private Limited
No. 9, Gr. Floor, Shlv Shaktl Ind. Estate, J. R, Boricha Marg, Lower Parel, Mumbal-400 011
Tel: +91 22 23016761/8261, Fax +91 22 23012517
Website: www.purvashare.com, Email: busicomp@vsnl.com, SEBI Ragn No.: INR000001112
Contact Person: Mr. Rajesh Shah

Place: Mumbai
Date : April 3,2013
For GCM SECURITIES LIMITED
On behalf of the Board of Directors
Sd/-
Manish Baid
Managing Director

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF GCM SECURITIES LIMITED.

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