|Basis of Allotment|
MITCON CONSULTANCY & ENGINEERING SERVICES LIMITED
Our Company was originally incorporated as Maharashtra industrial and Technical Consultancy Organisation Limited pursuant to a Certificate of Incorporation dated April 16, 1982 issued by the Registrar of Companies, Bombay, Maharashtra. The name of our Company was changed to MITCON Consultancy Services Limited pursuant to a Fresh Certificate of Incorporation consequent upon Change of Name dated September 7, 2000 issued by the Registrar of Companies, Pune, Maharashtra. The name of our Company was further changed to MITCON Consultancy & Engineering Services Limited pursuant to a Fresh Certificate of incorporation consequent upon Change of Name dated October 15, 2010 issued by the Registrar of Companies, Pune, Maharashtra. For more information on changes in our name and registered office, please refer to the section "History and Other Corporate Matters" on page 116 of the Prospectus.
Registered Office: First Floor, Kubera Chambers, Shivajinagar,
Pune 411 005, Maharashtra.
Our company is a professionally managed company and does not have an identifiable promoter in terms of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 41,00,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH (THE "EQUITY SHARES") OF MITCON CONSULTANCY & ENGINEERING SERVICES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF 61 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF 51 PER EQUITY SHARE), AGGREGATING TO - 25,01,00,000 (THE "ISSUE") OF WHICH 2,06,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH WERE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 38,94,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND NET ISSUE SHALL CONSTITUTE 33.88% AND 32.18% RESPECTIVELY OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.
The Issue was a Fixed Price issue and was made in accordance with Chapter XB (applicable to issue of specified Securities by Small & Medium Enterprises (SME) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended
THE FACE VALUE OF EQUITY SHARES IS RS.10. THE ISSUE PRICE IS RS.61. THE ISSUE PRICE IS 6.1 TIMES OF THE FACE VALUE.
In terms of Rule 19(2)(b)(i) of the Securities Contracts Regulations Rules, 1957, as amended ("SCRR"), this was an issue for at least 25% of the post-Issue paid-up equity share capital. The Issue was made through the Fixed Price Process wherein 2,06,000 Equity Shares were reserved for Market Maker. 19,48,000 Equity Shares were available for allocation on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from them at the Issue Price. For further details, please refer to the section "Issue Procedure" on page 238 of the Prospectus. The issue opened on Tuesday, October 15, 2013 and closed on Friday, October 18, 2013. The details of the applications received in the IPO from Retail individual Investors, Non Retail Investors and Market Maker is as under:
The issue has received 135 applications for 36,38,000 Equity Shares (excluding an application from Market Maker for 2,06,000 Equity Shares) resulting 0.9343 times of subscription before considering the Technical rejection cases. After considering the technical rejection case of 1 application of 2,000 Equity Shares, the Issue was subscribed 0.9337 times (excludes the Market Maker Portion). The details of the valid applications received in the Issue are as follows:
A. Allotment to Market Maker: The Basis of Allotment to the Market Maker, at the issue price of Rs.61.00 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited (NSE). The category was subscribed by 1.00 time. The total number of shares allotted in this category are 2,06,000 Equity shares in full out of reserved portion of 2,06,000 Equity Shares.
B. Allotment to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.61.00 per Equity Share, was finalized in consultation with NSE. The total equity shares available for allotment were 19,48,000 equity shares. The Company received 127 applications aggregating to 2,54,000 equity shares (including ASBA applications) in this category and it was subscribed 0.1304 times. Due to under subscription, all the applicants in this category have been given full and firm allotment and the under subscribed portion of 16,94,000 equity shares from Retail Individual Investors Category have been spilled over to Non-Retail Investors Category.
C. Allotment to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs.61.00 per Equity Share, was finalized in consultation with NSE. The total equity shares available for allotment (including spill over from retail individual investor category) was 36,40,000 equity shares. The Company received 7 applications aggregating to 33,82,000 equity shares in this category and it was subscribed by 0.9291 times. All the applicants in this category have been given full and firm allotment.
Summary of Allotment: The allotment summary in various categories as per the issue is as under;
*the undersubscribed portion of 16,94,000 equity shares in Retail Individual Investors category has been spilled over to Non Retail Investors category
The Board of Directors (Board) of the Company at its meeting held on October 28, 2013 have taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange viz. NSE & allotted the equity shares to all the successful applicants. Further, the Board authorized the corporate action for the credit of Equity Shares to various successful applicants. The issue was fully underwritten and after considering all the valid applications as above, a shortfall of 2,58,000 equity shares was noted. The board has further noted that the said shortfall has been attributed to the underwriter(s) and requisite notice has been sent calling up on the underwriter to discharge the obligation in terms of the underwriting agreement entered with the company. A separate allotment will be made on receipt of application money from the underwriter(s).
The Refund Advice and allotment advice and/or notices have been dispatched to the address of the Applicants as registered with the depositories on October 30, 2013. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has taken steps to get the Equity Shares admitted for trading on NSE within twelve working days from the date of the closure of the Issue and filed the listing application with NSE on 30/10/2013. The Company has received the listing & trading approval from NSE vide download ref no.NSE/CML724873 dated 31/10/2013 and the trading in equity shares shall commence from November 01, 2013 on EMERGE i.e. NSE SME Platform.
INVESTORS PLEASE NOTE:
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in. 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 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