|Basis of Allotment|
IS AN ADVERTISEMENT FOR INFORMATION PURPOSES ONLY. THIS IS NOT A PROSPECTUS ANNOUNCEMENT.
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
ERIS LIFESCIENCES LIMITED
Our Company was incorporated as "Eris Lifescience Private
Limited" on January 25, 2007, as a private limited company under the Companies Act
1956, at Ahmedabad,with a certificate of incorporation granted by the Registrar of
Companies,Gujarat, dadra and Nagar Haveli. A fresh certificate of incorporation consequent
to the change in our Company's name to "Eris Lifesciences Private Limited" was
issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli on February 9, 2007.
Further, pursuant to the conversion of our Company to a public limited company, our name
was changed to "Eris Lifesciences Limited" and the Registrar of Companies,
Ahmedabad (the "Roc") issued a fresh certificate of incorporation on
February 2, 2017. For more information on the changes in name and registered office of our
Company, see 'History and Certain Corporate Matters" on page 128 of the Prospectus
dated June 21,2017 (the "Prospectus")
Our Promoters: Mr. Amit Indubhushan Bakshi and others as disclosed in section "Our Promoters, Promoter Group And Group Companies' on page 150 of the Prospectus
Our Company Has filed the Prospectus with the RoC and the Equity Shares are proposed to be listed on the BSE Limited (''BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commenee on or about June 29,2017.
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFERING OF 28,875.000 EQUITY SHARES (THE "OFFER") OF FACE VALUE OF RS 1 EACH (THE "EQUITY SHARES") OF ERIS LIFESCIENCES LIMITED (OUR "COMPANY" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 603* PER EQUITY SHARE (THE "OFFER PRICE") AGGREGATING TO RS 17,411.63 MILLION THROUGH AN OFFER FOR SALE (THE "OFFER FOR SALE") OF 22,344,000 EQUITY SHARES AGGREGATING TO RS 13,473.43 MILLION BY BOTTICELLI (THE "INVESTOR SELLING SHAREHOLDER"), 687,500 EQUITY SHARES AGGREGATING TO RS 414.56 MILLION BY MR. AMIT INDUBHUSHAN BAKSHI. 687,500 EQUITY SHARES AGGREGATING TO RS 414.56 MILLION BY MR. HIMANSHU JAYANTBHAI SHAH, 1,031,167 EQUITY SHARES AGGREGATING TO 621.79 MILLION BY MR. INDERJEET SINGH NEGI, 1,031,166 EQUITY SHARES AGGREGATING TO RS 621.79 MILLION BY MR. RAJENDRAKUMAR RAMBHAI PATEL. 1,031,167 EQUITY SHARES AGGREGATING TO RS 621.79 MILLION BY MR. KAUSHAL KAMLESH SHAH (TOGETHER, THE "PROMOTER SELLING SHAREHOLDERS"). 1,375,000 EQUITY SHARES AGGREGATING TO RS 829.13 MILLION BY MR. BHIKHABHAI CHIMANLAL SHAH AND 687,500 EQUITY SHARES AGGREGATING TO RS 414.56 MILLION BY MR. HETAL RASIKLAL SHAH, (COLLECTIVELY, THE "OTHER SELLING SHAREHOLDERS". TOGETHER WITH THE INVESTOR SELLING SHAREHOLDER AND THE PROMOTER SELLING SHAREHOLDERS, THE "SELLING SHAREHOLDERS"). THE OFFER INCLUDES A RESERVATION OF 150,000 EQUITY SHARES AGGREGATING TO RS 81.45 MILLION, FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREINAFTER) (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER", AGGREGATING TO 28,725,000 EQUITY SHARES. THE OFFER AND THE NET OFFER CONSTITUTE 21% AND 20.89%. RESPECTIVELY OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
*Employee Discount of Rs 60 to the offer price was offered to Eligible Employees participating in the employee Reservation Portion.
OFFER PRICE: RS 603 PER EQUITY SHARE OF FACE VALUE OF RS 10 EACH
Risks to Investors:
BID/ OFFER PERIOD: OPENED ON: FRIDAY, JUNE 16, 2017
The Offer is made in terms of Rule I9(2)(b)(iii) of the Secunties Contracts (Regulation) Rules, 1957, as amended(the "SCRR"), wherein atleast 10% of the post-Offer Equity Shane capital of our Company is offered to the pubic through the Book Building Process and in compliance with Regulation 26(2) of the Securities and Exchange board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI ICDR Regulations"), wherein at least 75% of the Net Offer shall be Allotted on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the"QIB Category"). provided that our Company and the Investor Selling Shareholder, in consultation with the BRLMs. have allocated up to 60% of the QlB Category to Anchor investors .on a discretionary basis (the"Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received fron domestic Mutual Funds at or above the price at which allocation made to Anchor Investors. Further, 5% of the QlB Category (excluding the Anchor Investor Portion) was- made available for alocalion on a proportionate basis to Mutual Funds only The remainder of the QIB Category was made available "'or allocate on a proportionate, basis io QIBs. subject to valid Bids being received from them at or above the Offer Price. If at leasl 75% of the Offer cannot be Allotted to QIBs, the entire application money Shall be refunded forthwith. Further, not more than 15% of the Net Offer was made available for allocation on a praponionate basis to Non-Institutional Investors and not more than 10% of the Net Offer was made available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject 10 valid Bids being received at or above the Offer Price. All Bidders (except Anchor Investors) were mandatorily required to participate in this Offer only through the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective bank account in which the Bid Amount were blocked by the Self Certified Syndicate Banks (the "SCSB" ) Anchor Investors were not permitted to participate in the Anchor investor Portion through the ASBA process. For details, see "Offer Procedure"' on page 292 of the Prospectus.
The Offer received 307.478 applications for 64,825,416 Equity Shares (prior to technical rejections) resulting in 2,2450 times subscription. The details of the applications received in the Offer from various categories are as under: (before technical refections):
The Basis of Allotment was finalized in consultation with the Designated StocK Exchange, being the NSE on June 23,2017
A. Allotment to Retail Individual Investors (after technical rejections) (including ASBA Applications)
The Basts of Allotment to the Retail individual Investors, who have bid at the Cut-Off Price or at the Offer Price of Rs 603 per Equity Share, was finalised consultation with the NSE. This category has been subscribed to the extent of 2.9837 times. The total number of Equity Shares Allotted in Retail Portion is 3,191,158 Equity Shares to 132,964 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under.
B. Allotment to Non-Institutional investors (After Technical Rejections)
The Basis of Allotment to the Non-institutional investors, who have bid at the offer price of Rs 603 per Equity Share or above, was finalized in consultation with- the NSE. The Non-Institutional Portion has been subscribed to the extent of 0.3800 times. The total number of Equity Shares Allotted in this category is 1,637,352 Equity Shares to 292 successful Non- Institutional Investors. The category-wise details, of the Basis of Allotment are as under:
C. Allotment to Eligible Employees
Allotment to Eligible Employees, who have Bid at the Offer Price- (less Employee Discount) of Rs 543 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 0.752 times of the Employee Reservation Portion. The total number of Equity Shares Allotted in the Employee Reservation Portion is 112,800 Equity Shares, which were allotted io 365 successful Eligible Employees.The category-wise details of the Basis of Allotment are as under:
D. Allotment to QIBs
Allotment to QIBs, who have Bid at the Offer Price of Rs 603per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 3.6669 times of QIB Portion. As per the SEBI Regulations. Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 550,372 Equily Shares and other QIBs and unsatisfied demand of Mutual Funds were Allied the remaining available Equity Shares i.e. 10,457,068 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 11,007,440 Equity Shares, which were allotted to 26 successful QIB Bidders. The category-wise details of the Basis of Allomienl are as under;
E. Allotment to Anchor Investors
The Compeny and the Selling Shareholders, in consultation with the BRLMs, have allocated 12,926,250 Equity Shares to 21 Anchor investors (through 37 Applications) at the Anchor investor Offer Price of Rs 603 per Equity Share m accordance with the SEBI Regulations. This represents 60% of the QIB Portion.
The IPO Comrniriee of our Company on June 27, 2017 has taken on record the Basis of
Allotment of Equity Shares approved by all the Designated Stock Exchange, being NSE and
has Allotted the Equity Shares to various successful Bidders. The Allotment
Advice-cum-Intimations and /or notices will be dispatched to the address of the investors
as registered with the depositories. Further, the instructions to the Self Certified
Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued
on June 24, 2017 and payment to non-Syndicate brokers have been issued on June 27, 2017.
In case the same is not received within ten days, investors may contact the Registrar to
the offer at the address given below. The Equity Shares Allotted to the successful
Allottees have been uploaded on June 27, 2017 for credit into the respective beneficiary
accounts subject to validation of the account details with the depositories concerned. The
Company has filed the listing application with NSE and BSE on June 27,2017. The Company is
taking steps for completion of the necessary formalities to get the Equity Shares admitted
for listing and tradinq on the BSE and NSE within six Working Days from the Bid/offer
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Offer. Link Intime India Private Limited www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/sole Bidder, Bid cum Application Form number. Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated intermediary at the address given below.
Link Intime India Private 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 OF ERIS LIFESCIENCES LIMITED.