|Basis of Allotment|
(This is only an advertisement for information purpose and not a prospectus announcement.)
SYLPH EDUCATION SOLUTIONS LIMITED
Our Company was originally incorporated as "Sylph Education Solutions Private limited" on January 29, 2010 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Madhya Pradesh Our Company was subsequently converted in to a public limited company and consequently name was changed to "Sylph Education Solutions Limited" vide fresh certificate of incorporation dated March 04, 2014 issued by the Registrar of Companies. Madhya Pradesh. The Corporate identification number of our Company is U80302MP2010PLC023011.
Registered Office: ST 4, 22 Press Complex, A. B. Road,
Indore- 452008 (M P.)
PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF FACE VALUE RS 10/- EACH OF SYLPH EDUCATION SOLUTIONS LIMITED ("SESL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 12 PER SHARE (THE "ISSUE PRICE"), INCLUDING A SHARE PREMIUM OF RS 2 PER EQUITY SHARE AGGREGATING TO RS 480.00 LACS ("THE ISSUE"), OF WHICH 2,00,000 EQUITY SHARES OF RS. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "'MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 38,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A PRICE OF RS 12 AGGREGATING TO RS 456.00 IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.67% AND 25.33% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
In terms of Prospectus- dated February 1,2016 and as per Regulation 43, (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be initially 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 number of shares applied for.
Explanation: for the purpose of Regulalion 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 regard, specific attention is invited to chapter titled "Issue Procedure" on page 157 ofthe prospectus.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE IS Rs. 12/- EACH. THE ISSUE PRICE IS 1.2 (ONE POINT TWO (TIME OF THE FACE VALUE. ISSUE OPENED ON FEBRUARY 10,2016 (WEDNESDAY) AND CLOSED ON FEBUARY 15,2016 (MONOAY).
The Equity Shares offered through the Prospectus are proposed to be listed en the SME platform of BSE Limited ("BSE") in terms of the chapter XB of the SEBI (ICDR) Regulation, 2009 as amended from time to time, Company is not required to obtain an in-principle approval of the shares being offered in this issue. However Company has has received an approval letter dated December 15, 2015 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE. The designated stock exchange is BSE Limited.
The Issue has received 80 applications for 44,10.000 Equity Shares (Including Market Maker Application of 2,00,000 Equity Shares) resulting 1.1025 times subscription. After considering, Technical/Multiple Rejection cases, the issue was subscribed 1.1 times (including the Market Maker portion)
Details of the Valid Applicatioons Received ( Before Technical Rejection):
The details of applications rejected by the Registrar on Technical grounds are detailed below:
Details of the Applicataions Received (After Technical Rejections)
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-BSE Limited on February 18,2016.
A. Allocation to Market Maker (After Technical Rejection): The Basis of Allotment to the Market Maker, at the issue price of Rs. 12/-per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times, The total number of shares allotted in this category is 2,00,000 Equity shares in full out of reserved portion of 2,00,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejection): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.2526 times. Total number of shares allotted in this category is 4,80,000 Equity Shares. The category wise detail of basis of allotment is as under:
C. Allocation to Non Retail Investors (After Technical Rejection): The Basis of Allotment to the Non Retail Investors, at the issue pnee of Rs. 12/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.957 times. Total number of shares allotted in this category is 33,20.000 including unsubscribed portion of 14,20,000 Equity Shares of Retail Individual Investors, The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on February
17,2016 has taken on record the Basis of Allocation of Equity Shares approved by the
Designated Stock Exchange viz. BSE and has authorized the corporate action for allotment
of the Equity Shares in dematerialized form to various successful applicants.
INVESTORS PLEASE NOTE
The details or the allotment made would also be hosted on the website of The Registrar to the Issue. Purva Sharegistry India Private Ltd at www.purvashare.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:
SATELLITE CORPORATE SERVICES PVT 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 SYLPH EDUCATION SOLUTIONS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.