|Basis of Allotment|
is only an advertisement for Information purposes and not a Prospectus announcement.)
MANGALAM SEEDS LIMITED
Our Company was originally formed as a partnership firm under the Indian Partnership Act, 1932 in the name of "Mangalam Seeds Corporation", pursuant to a deed of partnership dated April 01,2007. The name of the partnership firm was changed to "Mangalam Seeds" pursuant to supplementary agreement modifying the partnership deed dated July 06, 2011. "Mangalam Seeds" was thereafter converted to a public limited company under Part IX of the Companies Act, 1956 under the name of "Mangalam Seeds Limited" and received a fresh certificate of incorporation from the Registrar of Companies, Gujarat, Dadra and Nagar Havelli on September 14,2011 bearing registration no. 067128 and Corporate Identification Number U01112GJ2011PLC067128. The certificate of commencement of business was granted by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli on September 26, 2011. The partners of M/s Mangalam Seeds were initial subscribers to Memorandum of Association of our Company. For details of incorporation, change of name and Registered Office of our Company, please refer to chapter titled "General Information" and "Our History and Certain Other Corporate Matters" beginning on page 63 and 184 respectively of the Prospectus.
Registered Office: 202, Sampada Complex, B/H Tulsi Complex,
Mithakhali Six Roads, Navrangpura, Ahmedabad - 380009, Gujarat, India
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 11,40,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF MANGALAM SEEDS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 50 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 40 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 570.00 LAKHS ("THE ISSUE"), OF WHICH 60,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 50 PER EQUITY SHARE, AGGREGATING RS. 30.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,80,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 50 PER EQUITY SHARE, AGGREGATING RS. 540.00 LACS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.50% AND 25.10% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated July 23,2015 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 a minimum of 50% of the Net Offer to Public shall initially be made available to Retail Individual Investors. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies/ institutions irrespective of no. of shares applied for. The unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.
Explanation: for the purpose of Regulation 43 (4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.
THE FACE VALUE OF EQUITY SHARES IS RS. 10 EACH. THE ISSUE PRICE IS RS. 50. THE ISSUE PRICE IS 5 TIMES OF THE FACE VALUE ISSUE OPENED ON JULY 29,2015 AND CLOSED ON JULY 31,2015
The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Ltd. ("BSE") in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. The Company is not required to obtain an in-principle approval for the shares being offered in this Issue. However, the Company has received an approval letter dated June 26, 2015 from BSE for using its name in the Prospectus for listing of our Shares on SME platform of BSE. The designated stockexchange is BSE.
All Applicants were allowed to participate in the Issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").
The Issue has received 553 applications for 2,388,000 Equity shares (including Market Maker Application of 60,000 Equity Shares) resulting 2.09 times subscription. After considering, a Cheque Return, Withdrawals, and Technical/ Multiple Rejection case, the issue was subscribed 2.04 times (including the Market Maker Portion). The details of application received (Before Technical Rejection & withdrawal of application but after Cheque returns)
The details of applications rejected by the Registrar on technical grounds (including withdrawals) are detailed below:
Detail of the Applications Received (After Technical Rejection & withdrawal):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on August 07,2015.
A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 50- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1 time. The total number of shares allotted in this category is 60,000 Equity shares in full out of reserved portion of 60,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotmentto the Retail Individual Investors, at the issue price of Rs. 50/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.10 times. Total number of shares allotted in this category is 7,11,000 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Other than Retail Individual Investor (After Technical Rejection and Withdrawal): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 50/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.11 times. Total number of shares allotted in this category is 3,69,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on August
10,2015 has taken on record the Basis of Allocation of Equity Shares approved by the
Designated Stock Exchange viz. BSE and authorized corporate action for allotment of shares
in dematerialized form to various successful applicants.
KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda,
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 MANGALAM SEEDS LIMITED.