|Basis of Allotment|
Not for release in the United States. This is an advertisement for information purposes only. This is not a prospectus announcement, and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly, outside India. All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the prospectus dated March 25,2015 (the "Prospectus") prepared by Inox Wind Limited (the "Company") in connection with the Issue (herein-after defined)
INOX WIND LIMITED
Our Company was incorporated on April 9,2009 as 'Inox Wind Limited', a public limited company under the Companies Act, 1956. Our Company received a certificate of commencement of business on April 15,2009 from the Registrar of Companies, Punjab, Chandigarh and Himachal Pradesh at Chandigarh. For further details relating to incorporation, corporate structure and change in registered office of our Company, please refer to the chapter "History and Other Corporate Matters" beginning on page 175 of the Prospectus. Registered Office: Plot No. 1, Khasra Nos. 264 to 267, Industrial Area, Village Basal -174103, District Una, Himachal Pradesh, India; Tel No: +91 1975 272001; Fax No: +91 1975 272001. Corporate Office: Inox Towers, Plot No. 17, Sector-16A, Gautam Budh Nagar, District Noida-201301, Uttar Pradesh, India; Tel No: +91 1206149600; Fax No: +91 1206149610. Contact Person: Ms. Ranju Goyal, Company Secretary and Compliance Officer Tel No:+91 1206149600; Fax No:+91 1206149610; E-mail: email@example.com; Website: www.inoxwind.com; Corporate Identification Number U31901HP2009PLC031083.
BASIS OF ALLOTMENT
PROMOTER OF OUR COMPANY: GUJARAT FLUOROCHEMICALS LIMITED
PUBLIC ISSUE OF 31,918,226 EQUITY SHARES OF FACE VALUE Rs 10 EACH ("EQUITY SHARES") OF INOX WIND LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs 325* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 315 PER EQUITY SHARE) AGGREGATING Rs 10,205.34 MILLION CONSISTING OFAFRESH ISSUE OF 21,918,226 EQUITY SHARES BY OUR COMPANY AGGREGATING Rs 7,000 MILLION ("FRESH ISSUE") AND AN OFFER FOR SALE OF 10,000,000 EQUITY SHARES BY GUJARAT FLUOROCHEMICALS LIMITED (THE "SELLING SHAREHOLDER") AGGREGATING Rs 3,205.34 MILLION (THE "OFFER FOR SALE"). THE FRESH ISSUE AND THE OFFER FOR SALE ARE TOGETHER REFERRED TO AS THE "ISSUE". THE ISSUE INCLUDES A RESERVATION OF 500,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED IN THE PROSPECTUS) ON A COMPETITIVE BASIS (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 14.38% AND 14.16%, RESPECTIVELY, OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OURCOMPANY. * Discount of Rs 15 per Equity Share has been offered to Eligible Employees and to Retail Individual Bidders.
ISSUE PRICE: Rs 325 PER EQUITY SHARE OF FACE VALUE OF Rs 10
Pursuant to Rule 19(2)(b)(iii) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"), the Issue was made for at least 10% of the post-Issue paid-up Equity Share capital of our Company. The Issue is made through the Book Building Process in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBIICDR Regulations"), wherein 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs").
Our Company and the Selling Shareholder in consultation with the Managers have
allocated 59.17% of the QIB Portion to Anchor Investors (the "Anchor Investor
Portion") at the Anchor Investor Allocation Price, on a discretionary basis, out of
which at least one-third has been allocated to domestic Mutual Funds only. Such number of
Equity Shares representing 5% of the Net QIB Portion shall be available for allocation on
a proportionate basis to Mutual Funds only, and the remaining Net QIB Portion shall be
available forallocation on a proportionate basis to all QIBs, including Mutual Funds,
subject to valid Bids being received at or above Issue Price. Further, not less than 15%
of the Net Issue shall be available for allocation on a proportionate basis to
Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for
allocation to Retail Individual Bidders, subject to valid Bids being received from them at
or above the Issue Price such that subject to availability of Equity Shares, each Retail
Individual Bidder shall be Allotted not less than the minimum Bid Lot, and the remaining
Equity Shares, if available, shall be allotted to all Retail Individual Bidders on a
proportionate basis. Further, 500,000 Equity Shares have been reserved for allocation on a
proportionate basis to Eligible Employees, subject to valid Bids being received at or
above the Issue price. All QIBs (other than Anchor Investors) and Non-Institutional
Investors must compulsorily and Retail Individual Bidders and Eligible Employees may
optionally participate in this Issue though the ASBA process by providing the details of
their respective bank accounts in which the corresponding Bid Amounts will be blocked by
the SCSBs. Kindly note that, our Company and Selling Shareholder had mentioned in the Red
Herring Prospectus dated March 8,2015 (the "RHP") that they shall proceed with
Allotment, amongst other conditions mentioned in the RHP, only in the event Bids
equivalent to at least 25% of the Net Issue (including Bids received under the Anchor
Investor Portion) are received from Mutual Funds and/or Insurance Companies. Specific
attention of investors is invited to the chapter "Issue Procedure" on page 415
of the Prospectus.
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE Limited ("BSE") on March 30,2015.
A Allocation to Retail Individual Bidders (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs 310 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 2.10 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 11,153,141^^ Equity Shares to 247,800 successful Applicants. The category-wise details of the Basis of Allotment are as under: ""including spillover from Employee Reservation Portion.
B. Allocation to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price of Rs 325 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 35.60 times. The total number of Equity Shares allotted in this category is 4,779,918 ^ ^ Equity Shares to 203 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample) ""including spillover from Employee Reservation Portion
C. Allocation to QIBs (excluding Anchor Investors)
Allotment to QIBs, who have bid at the Issue Price of Rs 325 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 38.25 times of Net QIB portion. As per the SEBI ICDR Regulations, Mutual Funds were allotted 5.00% of the Equity Shares of Net QIB portion available i.e. 6,507,590 Equity Shares and other QIBs (including Mutual Funds) were allotted the remaining available Equity Shares i.e. 6,182,210 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 6,507,590^^ Equity Shares, which were allotted to 106 successful Applicants, "including spillover from Employee Reservation Portion.
D. Allocation to Anchor Investors
The Company and Selling Shareholder have allotted 9,425,467 Equity Shares to 37 Anchor Investors, in consultation with the GC-BRLMs and BRLM. In accordance with the SEBI ICDR Regulations, this represents 60% of the QIB Portion.
Bids from Mutual Funds and Insurance Companies (including Bids received under the Anchor Investor Portion) received in the Issue is more than 25% of the Net Issue. Hence the requirement as mentioned in the Prospectus that Allotment shall be made only in the event Bids equivalent to at least 25% of the Net Issue (including Bids received underthe Anchor Investor Portion) are received from Mutual Funds and/or Insurance Companies has been complied with.
The Board of Directors of our Company at its meeting held on March 30,2015 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants.
The Allotment Advice cum Refund Order have been dispatched to the address of the investors as registered with the depositories on April 06,2015. Further, instructions to the SCSBs have been dispatched/mailed on March 30,2015. The Refund Advices have been over-printed with the bank account details as registered, if any, with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Issue, Link Intime India Private Limited, at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on March 31, 2015, for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within 12 working days of the closure of the Issue i.e. on or about April 9,2015. Our company filed the listing application on April 06,2015.
INVESTORS PLEASE NOTE
The details of the Allotment made will 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 applicant, Serial number of the Bid-Cum-Application form, number of Equity Shares bid for, name of the Syndicate or the Registered Broker, place where the bid was submitted and payment details at the address given below:
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400 078,
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 INOX WIND LIMITED.