|Basis of Allotment|
oniy an advertimentfo imformation purposes and not a prospectus announcement)
SSPN FINANCE LIMITED
CIN No.: U65923MH2012TLC225735
Our Company was incorporated as 'SSPN Finance Limited' a public limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated January 4, 2012 issued by the Registrar of Companies, Maharashtra, Mumbai. Our Company received the Certificate of Commencement of Business on January 31, 2012 issued by the Registrar of Companies, Maharashtra, Mumbai. Our corporate identification number is U65923MH2012PLC225735. For further details of our Company, please refer to the chapters titled 'General Information' and 'History and Certain Corporate Matters' beginning on page numbers 33 and 78, respectively, of the Prospectus.
Registered Office: 106, Siddhesh Apartment, 2nd Khattar Gali,
Thakurdwar Road, Charni Road (East), Mumbai - 400 004
Corporate Office: Vrusti, 20 Swastic Soc., V.M Road, Vile Parle(w),
Near Mithibai College, Opp HDFC Bank, Mumbai-400056, Maharashtra Tel: +91 22 6733
8899, Fax: +91 22 6733 8899; Website: www.sspn.co.in,
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 7,50,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF SSPN FINANCE LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 20 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF Rs. 10 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING Rs.150.00 LACS ("THE ISSUE"), OF WHICH 42,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 20 PER EQUITY SHARE, AGGREGATING Rs 8.40 LACS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 7,08,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 20 PER EQUITY SHARE, AGGREGATING Rs. 141.60 LACS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 39.62% AND 37.40% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR 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 7,08,000 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 PROPORATIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.
THE FACE VALUE OF THE EQUITY SHARES IS Rs 10 EACH AND
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 February 19, 2015 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 25, 2015.
*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 69 applications for 876,000 Equity Shares (including Market Maker Application of 42,000) resulting 1.17 times subscription. After considering, technical rejections cases of 02 application for 12,000 Equity Shares, the Issue was subscribed 1.15 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):
The under subscribed 12,000 equity shares of Retail Individual Investors Category have been spilled over to other than Retail Individual Investors category.
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on March 19, 2015
A) Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 20 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 42,000 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 20 per Equity share, was finalized in consultation with BSE. The category was subscribed by 0.97 times i.e. for 3,42,000 Equity Shares. The total number of shares allotted in this category is 3,42,000 Equity Shares to 57 successful applicants. Due to under subscription all the 57 valid applicants in this category have been given full and firm allotment of 6,000 equity shares each and the under subscribed portion, being 12,000 equity shares from Retail Individua Investors Category have been spilled over to Other than Retail Individual Investors Category.
C) Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Other than Retail Individual Investors Category, at the issue price of Rs.20 per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.36 times i.e. for 4,80,000 Equity Shares. After adding the spill over 12,000 equity shares from Retail individual Investors category the category was subscribed by 1.31 times.The total number of shares allotted in this category is 3,66,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company vide circular resolution dated
March 20, 2015 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.
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated February 19, 2015 ("Prospectus").
INVESTORS PLEASE NOTE
BIGSHARE SERVICES PRIVATE LIMITED
THE LEVEL OF SUBSCRIPTIN SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SSPN FINANCE LIMITED.