|Basis of Allotment|
(This is only an advertisement for Information purposes and not a Prospectus announcement)
B.C. POWER CONTROLS LIMITED
Our Company was incorporated as "B.C. Power Controls Private Limited" under the provisions of the Companies Act, 1956 vide certificate of incorporation dated June 12,2008 bearing registration no. 179414, in Delhi. Subsequently, Our Company was converted into a public limited company vide fresh certificate of incorporation dated November 21,2013 and consequently the name of our Company was changed to B.C. Power Controls Limited. The Corporate Identification Number of Our Company is U31300DL2008PLC179414. For details of change in registered office of our Company please refer to chapter titled "Our History and Certain Other Corporate Matters" beginning on page 121 of the Prospectus.
Registered Office: 7A/39, WEA Channa Market, Karol Bagh,
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 57,60,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FULLY PAID OF B.C. POWER CONTROLS LIMITED ("BCPL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 18/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF Rs. 8/- PER EQUITY SHARE AGGREGATING RS. 1036.80 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 2,88,000 EQUITY SHARES OF Rs. 107- FULLY PAID EACH WILL BE 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 54,72,000 EQUITY SHARES OF Rs. 10/- EACH FULLY PAID IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 48.98 % AND 46.53 %, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE 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 ISSUE OF 54,72,000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVAILABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INDIVIDUALS INVESTORS AND OTHER INVESTORS 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 18 IS 1.80
TIMES OF THE FACE VALUE.
The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited. In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, we are not required to obtain an in-principle listing approval for the shares being offered in this issue. However, our Company has received an approval letter dated January 21,2014 from BSE for using its name in the Prospectus 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"). The trading is proposed to commence on or before March 14,2014 subject to receipt of listing and trading approvals from the BSE Limited.
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 has received 197 applications for 70,88,000 Equity Shares (including Market Maker Application of 2,88,000) resulting in 1.23 times subscription. After considering, technical rejections cases of 5 application for 1,12,000 Equity Shares, the Issue was subscribed 1.21 times. The details of the applications received in the Issue (before technical rejections) are as follows:
Detail of the Applications Received (Before Technical Rejection & withdrawal of application)
The details of applications rejected by the Registrar on technical grounds (including withdrawals) are detailed below:
Details of the Applications Received (After Technical Rejection & withdrawal):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on March 7,2014.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 18/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,88,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 18/- per Equity share, was finalized in consultation with BSE. The category was subscribed by 0.23 times i.e. for 6,32,000 Equity Shares. The total number of shares allotted in this category is 6,32,000 Equity Shares to 79 successful applicants.
C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs.18/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.25 times i.e. for 60,56,000 Equity Shares. The total number of shares allotted in this category is 48,40,000 Equity Shares including spill over of 21,04,000 Equity shares from retail category. The category wise basis of allotment is as under:
The Board of Directors of the Company vide circular resolution dated March 8, 2014 has taken on record the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE Ltd and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The Refund /allotment intimation are being dispatched to the address of the Applicants as registered with the depositories on or before March 10, 2014. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to March 10,2014. In case the same is not received within ten 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 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 February 1,2014 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.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:REGISTRAR TO THE ISSUE
BIGSHARE SERVICES PRIVATE LIMITED
E2 Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri East, Mumbai- 400072
Tel: +91 22 40430200; Fax: +91 22 28475207
Email: firstname.lastname@example.org; Website: www.bigshareonline.com Contact Person: Mr. Jagdish Raul
SEBI Regn. Number: INR000001385
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 B.C. POWER CONTROLS LIMITED.