|Basis of Allotment|
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 to securities. Not for publication or distribution, directly or indirectly outside India."All the capitalized terms used and not specifically defined here shall have the same meaning as ascribed to them in the Prospectus"
NAVKAR CORPORATION LIMITED
The Company was incorporated as 'Navkar Corporation Limited' on September 29,2008 as a public limited company under Part IX of the Companies Act, 1956 ("Companies Act 1956"), with the Registrar of Companies, Maharashtra at Mumbai (the "RoC"). For further details, see "History and Certain Corporate Matters" on page 147 of the Prospectus dated August 29,2015 ("Prospectus").Corporate Identity Number: U63000MH2008PLC187146
Registered Office: 205-206, J.K. Chambers, Sector 17, Vashi, Navi
Mumbai 400 705, Maharashtra, India
The equity shares of the Company are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on or before September 9,2015.
PROMOTERS: MR. SHANTILAL JAYAVANT RAJ MEHTA AND
INITIAL PUBLIC OFFERING OF 38,709,676 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH (THE "EQUITY SHARES") OF NAVKAR CORPORATION LIMITED ("NCL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs 155 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 145 PER EQUITY SHARE) (THE "OFFER PRICE") AGGREGATING TO Rs 6,000 MILLION (THE "OFFER"). THE OFFER COMPRISES A FRESH ISSUE OF 32,903,225 EQUITY SHARES AGGREGATING TO Rs 5,100 MILLION BY THE COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 5,806,451 EQUITY SHARES AGGREGATING TO Rs 900 MILLION BY SIDHHARTHA CORPORATION PRIVATE LIMITED, A MEMBER OF THE PROMOTER GROUP OF THE COMPANY (THE "SELLING SHAREHOLDER") (THE "OFFER FOR SALE"). THE OFFER CONSTITUTES 27.14 % OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS 10;
The Offer is made in terms of Rule 19(2)(b)(ii) of the Securities Contracts
(Regulation) Rules, 1957, as amended, for 27.14% of the post-Offer paid up Equity Share
capital of the Company. The Offer 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 (the "SEBI ICDR
Regulations"), wherein 50% of the Offer has been allocated on a proportionate basis
to Qualified Institutional Buyers ("QIBs") (the "QIB Category").The
Company and the Selling Shareholder, in consultation with the Joint Global Co ordinators
and Book Running Lead Managers ("JGCBRLMs"), have allocated 60% of the QIB
Category to Anchor Investors, on a discretionary basis (the "Anchor Investor
Portion"), of which one-third was reserved for domestic Mutual Funds, subject to
valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer
Price. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) was
available for allocation on a proportionate basis to Mutual Funds only. The remainder
shall be available for allocation on a proportionate basis to QIBs and Mutual Funds,
subject to valid Bids being received from them at or above the Offer Price. Further, not
less than 15% of the Offer was available for allocation on a proportionate basis to
Non-Institutional Investors and not less than 35% of the Offer was available for
allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations,
subject to valid Bids being received at or above the Offer Price.
The Offer received 214,813 applications for 88,686,585 Equity Shares (prior to technical rejections) resulting in 2.2911 times subscription. The details of the applications received in the Offer from Retail Individual Investors, Non-Institutional Investors, QIBs (excluding Anchor Investors) and Anchor Investors are as under (before technical rejections):
The Basis of Allotment was finalized in consultation with the
Designated Stock Exchange, being BSE on September03, 2015.
A. Allotment to Retail Individual Investors (After Technical
B. Allotment to Non-Institutional Investors (After Technical
*The undersubscribed portion of 4,150,221 equity shares in
Non-Institutional Category has been spilled over to Retail Category.
D. Allotment to Anchor Investors
The Board of Directors of the Company at its meeting held on September 04,2015. 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 Bidders. The Allotment Advice-cum-Refund Order have been dispatched to the address of the investors as registered with the depositories on September 05,2015. Further, instructions to the SCSBs have been issued on September 03,2015. The Refund Orders 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 Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on September 05,2015 for credit into the respective 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 BSE and NSE within 12 working days of the closure of the Offer, i.e. on or before September 09,2015. The Company has filed the listing application with BSE & NSE on September 04,2015.
INVESTORS PLEASE NOTE
The details of the Basis of Allotment made shall be hosted on the website of the Registrar to the Offer, 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 Offer 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 member of the Syndicate, place where the Bid-cum-Application Form was submitted and payment details atthe address given below:
Link Intime India Private Limited
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 NAVKAR CORPORATION LIMITED.