|Basis of Allotment|
is only an advertisement for Information purpose. 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 Not for publication or distribution, directly or indirectly outside India.)
MAJESTIC RESEARCH SERVICES AND SOLUTIONS LIMITED
Our Company was originally incorporated as "Majestic Research Services and Solutions Private Limited' at Bengaluru, Karnataka, as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated May 02, 2012 bearing registration number 063818 issued by Registrar of Companies, Karnataka, Bengaluru. Subsequently, our Company was converted into a public limited company pursuant to Special Resolution passed by the Company at its Extra Ordinary General Meeting held on July 10, 2014 and fresh certificate of incorporation dated August 11,2014 and the name of our Company was changed to 'Majestic Research Services and Solutions Limited'. Our Company came out with Initial Public Offer in the year 2015 and got listed to SME Platform of BSE Ltd. on July 16, 2015. The Corporate identity number of our Company is L72200KA2012PLC063818. 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 58 and 150 of the Prospectus.
Registered Office: 2nd, Floor, Kalpak Arcade, Number 46/17,
Church Street, Bengaluru- 560 001, Karnataka, India
PROMOTERS OF OUR COMPANY: MAJESTIC MARKET RESEARCH SUPPORT SERVICES
BASIS OF ALLOTMENT
FURTHER PUBLIC ISSUE OF 8,76,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 114/-PER EQUITY SHARE, (THE "ISSUE PRICE") INCLUDING A SHARE PREMIUM OF RS. 104/- PER EQUITY SHARE AGGREGATING UP TO RS.998.64* LAKHS (THE "FURTHER ISSUE") BY OUR COMPANY, OF WHICH 48,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 114/- PER EQUITY SHARE, AGGREGATING RS. 54.72 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 8,28,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 114/- PER EQUITY SHARE, AGGREGATING RS. 943.92 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 17.53% AND 16.57% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
* Issue Size was revised to adjust the shares in lot of 1200 Equity Shares
Risks to Investors:
Average cost of acquisition per Equity Share by our Promoters viz. Majestic Market Research Support Services Limited, Rajendra Kumar Sharma and Sarang Jayant Panchal is Rs.10 respectively and the Issue Price at the upper end of the Price Band is significantly higher at Rs.114 per Equity Share.
In terms of Prospectus dated December 07,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein
(a) minimum of 50% of the Net Offerto Public shall initially be made available to Retail Individual Investors.
(b) the balance net offer of shares to the public shall be made available for allotment to
(i) individual applicants other than retail investors and
(ii) other investors including corporate bodies/ institutions irrespective of no. of shares applied for.
(c) the unsubscribed portion of the net ofler to any one of the categories specified in (a) or (b) shall/may be made available 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. All Investors have participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 286 of the Prospectus.
THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH. THE ISSUE PRICE IS
RS. 114/- AND IS 11.4 TIMES THE FACE VALUE OF THE EQUITY SHARES
The Equity Shares of our Company are already listed on SME Platform of BSE Limited ("BSE"). The Equity Shares offered through are proposed to be listed on the SME Platform of BSE Limited ("BSE") in terms of Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time ('SEBI (ICDR) Regulations, 2009. Our Company has received an approval letter dated October 20,2016 from BSE for using its name in this offer document and listing approval dated December 09,2016 for further listing of our shares on the SME Platform of BSE. For the purpose of this further Issue, BSE will be the Designated Stock Exchange. Copies of Red Herring Prospectus and Prospectus has been approved by the Registrar of Companies, Bengaluru, Karnataka.
The Issue has received 376 applications for 14,53,200 Equity shares (Before Technical Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 48000 Equity Shares. The issue was subscribed to the extent of 1.66 times as per the application data (before technical rejection). After considering the technical rejections cases, the issue was subscribed 1.63 times.
The details of application received (Before Technical Rejection but after bids not banked and invalid duplicate bids)
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Ltd on December 08,2016.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs.114/- 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 48,000 Equity shares in full out of reserved portion of 48,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotmentto the Retail Individual Investors, at the issue price of Rs. 114/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.85 times. Total number of shares allotted in this category is 351600 Equity Shares. The category wise basis of allotment is as under:
*The under subscribed 62400 shares from Retail Individual Investors Category have been spilled over to Other than Retail Individual Investors Category.
C. Allocation to Other than Retail Individual Investor (After Technical Rejections): The Basis of Allotmentto other than Retail Individual Investors, at the issue price of Rs 114/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.15 times. Total number of shares allotted in this category is 4,76,400 Equity Shares. The category wise basis of allotment is as under:
* includes original reservation of 414000 shares and spill over from Retail Individual Investors Category of 62400 shares.
The Board of Directors of the Company at its meeting held on December 08,2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before December 13, 2016. Further, the instructions to SCSBs has been issued on December 09,2016 for unblocking of funds. 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. In case the same is not received within prescribed time, Investors may contact the registrar to the Issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE within six working days from the date of the closure of the Issue. The Company has received listing approval on December 09,2016 and trading is proposed to commence on or before December 14,2016 subject on receipt trading approval from BSE Ltd.
INVESTORS PLEASE NOTE
BIGSHARE SERVICES PRIVATE LIMITED
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF MAJESTIC RESEARCH SERVICES AND SOLUTIONS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus, dated December 07,2016 filed with Registrar of Companies, Bengaluru, Karnataka.