Basis of Allotment

BASIS OF ALLOTMENT

(This is only an advertisement for information purposes and not a prospectus announcement)

ATHENA CONSTRUCTIONS LIMITED
Corporate Identification Number: U45200MH2011PLC215562
Our Company was originally incorporated at Mumbai as "Athena Constructions Private Limited" on 30th March, 2011 under the provisions of the Companies Act, 1956. Our Company was converted in to a Public Limited Company and consequently the name was changed to 'Athena Constructions Limited" vide fresh certificate of incorporation dated 8th August, 2014 issued by the Registrar of Companies, Mumbai, Maharashtra. For further details in relation to the changes to the name of our Company, please refer to the section titled "Our History and Corporate Structure" beginning on page 75 of the Prospectus.

Registered Office: 203, Shyam Kamal, A Wing, Tejpal Road, Vile Parle (East) Mumbai - 400 059;
Tel: +91-22-42091041; Fax: +91-22-4209 1023; Email: athenaconstructions2011@gmail.com; Website: www.constructions.athenaindia.co.in

Company Secretary and Compliance Officer: Ms. Sudha Jain
Promoters of our Company: Mr. Ravikant Rathi & Mr. Santosh Chandrashekhar Nagar

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 25,00,000 EQUITY SHARES OF RS.10 EACH ("EQUITY SHARES") OF ATHENA CONSTRUCTIONS LIMITED ("ACL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS.10 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS.250.00 LACS ("THE ISSUE"), OF WHICH 1,30,000 EQUITY SHARES OF RS.10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 23,70,000 EQUITY SHARES OF RS.10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 33.33% AND 31.60%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

In terms of Prospectus dated 17th March, 2015 and as per Regulation 43 (4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50 % of the Net Offer to Public shall be made available to shall be initially made available to Retail Individual Investors as the case may be. 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 THE EQUITY SHARES IS RS.10 EACH AND THE ISSUE PRICE IS RS.10 EACH.
THE ISSUE PRICE IS AT PAR OR 1.00 (ONE) TIME OF THE FACE VALUE.
ISSUE OPENED ON 25TH MARCH, 2015 AND CLOSED ON 30TH MARCH, 2015.

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ("BSE") in terms of the chapter XB of the SEBI (ICDR) Regulations, 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 received an approval letter dated 2nd February, 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.

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").

SUBSCRIPTION DETAILS
Issue has received 188 applications for 38,00,000 Equity Shares (Including Market Maker Application of 1,30,000 Equity Shares) resulting 1.520 times subscription. After considering, cheque return cases of 16 applications of 1,90,000 Equity Shares, the Issue was subscribed 1.444 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):

Category Number of
Applications
Number of
Equity Shares
Subscription
Market Makers 1 130000 1.000
Other than Retail Individual Investor's 23 930000 1.550
Retail Individual Investor's 207 2550000 1.441
TOTAL 231 3610000 1.444

The details of applications rejected by the Registrar on technical grounds (including withdrawals) are detailed below;

Category Number of
Applications
Number of
Equity Shares
Market Makers Nil Nil
Other than Retail Individual Investor's 1 50000
Retail Individual Investor's Nil Nil
TOTAL 1 50000

Detail of Applications Received (After Technical Rejection and withdrawal)

Category Number of
Applications
Number of
Equity Shares
Subscription
Market Makers 1 130000 1.000
Other than Retail Individual Investor's 22 880000 1.467
Retail Individual Investor's 207 2550000 1.441
TOTAL 230 3560000 1.424

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on 10th April, 2015

A) Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of  Rs.10 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1,30,000 Equity shares in full out of reserved portion of 1,30,000 Equity Shares.

B) Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs.10 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.467 times. Total number of shares allotted in this category is 6,00,000 Equity Shares. The category wise basis of allotment is as under.

No, of Shares Applied for (Category Wise) No. of Application % to Total Total No. of Shares Applied % to Total Proportionate Shares Available Allocation Per Applicant (before rounding off) Allocation Per Applicant (after rounding off) Ratio of Alloteesto The Applicants Total No. of Shares Allotted Surplus/ Defecit
30000 13 59.09 390000 44.32 265909 20454.5S 20000 FIRM 260000 (5909)
40000 1 4.55 40000 4.55 27273 27272.73 30000 FIRM 30000 2727
50000 7 31.82 350000 39.77 238636 34090.91 30000 FIRM 210000 (28636)
10000 3:7 30000 30000
100000 1 4.55 100000 11.36 68182 68181.82 70000 FIRM 70000 1818
TOTAL 22 100 880000 100 600000 600000 -

C) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs.10 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.441 times, Total number of shares allotted in this category is 17,70,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category Wise) No. of Application % to Total Total No. of Shares Applied % to Total Proportionate Shares Available Allocation Per Applicant (before rounding off) Allocation Per Applicant (after rounding off) Ratio of Allotees to The Applicants Total No. of Shares Allotted Surplus/ Defecit
10000 159 76.81 1590000 62.35 1103647 6941.18 10000 59:69 1770000 186353
20000 48 23.19 960000 37.65 666353 13882.35 10000 (186353)
TOTAL 207 100 2550000 100 1770000 1770000 -

The Board of Directors of the Company at its meeting held on 11th April, 2015 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 the transfer of the Equity Shares / dispatch of share certificates to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before 14th April, 2015. Further, the instructions to Self Certified Syndicate Banks being processed on or prior to 14th April, 2015. In case the same is not received within 10 days, investors may contact at the address given below. 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. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within Twelve working days from the date of the closure of the Issue. The trading is proposed to be commenced on or before 16th April, 2015 subject to receipt of listing and trading approvals from BSE Limited.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Purva Sharegistry (India) Private Limited 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:

PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED

Unit No. 9, Shiv Shakti Industrial Estate, J. R. Boricha Marg, Opp. Kasturba Hospital Lane, Lower Parel (E), Mumbai - 400 011 P „ Tel: +91 22 23016761/8261; Fax: +91 22 23012517 
Email: busicomp@vsnl.com; Website: www.purvashare.com
Contact Person: Mr. Rajesh Shah; SEBI Regn. Number: INR000001112

Place : Mumbai
Date : April 11, 2015
For ATHENA CONSTRUCTIONS LIMITED
Sd/-
Ravi Rathi
Managing Director

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 ATHENA CONSTRUCTIONS LIMITED.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

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