|Basis of Allotment|
This is only an advertisement for information purpose. This is not a Prospectus announcement and does not constitute invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or Indirectly outside India.
BHARAT WIRE ROPES LIMITED
Our Company was Incorporated as Bharat Ropes Private Limited on July 24, 1986. at Mumbai. Maharashtra as a private Limited company under the Companies Act, 1956. Our Company was converted into a public limited company pursuant to approval of the shareholders in an extraordinary general meeting held on May 2, 1992 and consequently, the name of our Company was changed to Bharat Ropes Limited and a fresh certificate of incorporation consequent upon conversion to public limited company was granted on June 10, 1992. Thereafter, the name of our Company was changed from Bharat Ropes Limited to Bharat Wire Ropes Limited and a fresh certificate of incorporation consequent upon change of name was granted by the Registrar of Companies, Mumbai. on July 5, 1996. For details of changes in the name and the restored office of our Company, Please refer to the chapter titled "History and Certain Corporate Matters" beginning on page 158 of the Prospectus.
Registered Office: Plot No. 1&4, Atgaon Industrial Complex, Mumbai-Nasik-Highway, Atgaon(East), Taluka Shahpur,Thane - 421601, Maharashtra, India; Tel: +91-2527-240123; Fax: +91-2527-240196; Corporate Office: 701, A Wing, Trade World, Kamla City, Senapati Bapat Marg. Lower Parol (West), Mumbai- 400013, Maharashtra, India. Tel: +91-22-66824600, Fax: +91-22-24955477; Contact Person: Mr. Shailesh Rakhasiya, Company Secretary and Compliance Officer, Tel: +91-22-66824600; Fax: +91-22- 24955477; E-mail: email@example.com; Website: www.bharatwireropes.com; Corporate Identification Number: U27200MH1986PLC040468.
PROMOTERS OF OUR COMPANY: MR. MURARILAL MITTAL, MRS. USHA MITTAL, MR. MANAN MITTAL AND GAJI MERCANTILE PRIVATE LIMITED
BASIS OF ALLOTMENT
The Equity Shares of the Company are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"). The Company has received listing and trading approval from BSE and NSE and trading In Equity Shares will commence on April 1, 2016.
PUBLIC ISSUE OF 1,55.55,555 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF BHARAT WIRE ROPES LIMITED (OUR "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 45 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 35 PER EQUITY SHARE) AGGREGATING UP TO RS. 7,000 LACS (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 1,47,77,778 EQUITY SHARES (THE "NET ISSUE") AND RESERVATION OF 7,77,777 EQUITY SHARES AGGREGATING UP TO RS. 350 LACS FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEE (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE CONSTITUTES 34.60% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL AND THE NET ISSUE TO THE PUBLIC CONSTITUES 32.87% OF POST- ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH. THE ISSUE PRICE IS RS. 45 PER EQUITY SHARE AND IS 4.5 TIMES THE FACE VALUE OF THE EQUITY SHARES.
The Issue Price : Rs 45 per Equity Share of Face Value of Rs. 10
BID/ISSUE OPENED ON MARCH 18, 2016
BID/ISSUE CLOSED ON MARCH 22, 2016
This Issue Is being made pursuant to Rule 19(2)(b) of the Securities Contacts Regulation Rules, 1957, as amended ("SCRR"). this is an Issue for at leasl 25% of the post-Issue of our Company The Issue is being made through the Book Building Process in compliance with the provisions of 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 Issue shall be allotted on a proportionate basis to Qualified Institutional Buyers ("QIBs"). 5% of the QlB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available (or allocation on a proportionate basis to all QlB Bidders, Including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at leasl 75% of the Net Issue cannot be Allotted toQIBs, then the entire application money shall be refunded forthwith. Further, not more than 15% of the Net Issue shall be available for allocabon on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Issue shall be available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI (ICDR) Regulations"), subject to valid Bids being received at or above the Issue Price. All Bidders are mandatorily required to utilise the ASBA process to participate in this Issue. For details, please refer to the chapter titled 'Issue Procedure' beginning on page 318 of the Prospectus.
The Issue received 9,306 Applications for 20,887,800 Equity Shares (before technical rejections) resulting in 1.34 times subscription. As per the bid book, the details of the Applications received in the Issue from various categories are as under: (Before technical rejections)
Asummary of final demand as per BSE & NSE after the Bid/Issuo Period at different prices is as under:-
The Basis of Allotment was finalized in consultation with the
Designated Stock Exchange, being NSE on March 29, 2016.
The Basis of Allotment to the Retail Individual Bidders, who have Bid at Cut-off Price
or at the Issue Price of Rs. 45 per Equity Share was finalized in consultation with NSE.
The category has been subscribed to the extent of 2.08 times, The total number of Equity
Shares Allotted in this category is 1,545,055(*) Equity Shares to 5,150 successful
applicants. The category-wise details of the Basis of Allotment are as under:
B. Allotment to Non Institutional Bidder (After Technical Rejections)
The Basis of Allotment to the Non-lnstitutional Bidders, who have Bid at the Issue Price of Rs. 45 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 2.13 times, The total number of Equity Shares Allotted in this category ts 2,317,583 (*) Equity Shares to 70 successful applicants. The category-wise details of the Basis of Allotment are as under:
(*) Including spill over from Employee Reservation Portion.
C. Allotment to Employees (After Technical
The undersubscribed portion of 672,777 Equity Shares in Employee
Reservation Portion has been spilled over to Retail Individual Bidders. Non-lnstitutional
Bidders and QlB category in the ratio 10:15:75.
The IPO Committee of the Company at its meeting held on March 30.2016.
has taken on record, the Basis of Allotment approved by the Designated Stock Exchange,
being NSE and Allotted the Equtly Shares to various successful Applicants. The Allotment
Advice has been dispatched on March 30.2016 to the address of the Investors as registered
with the depositories. In case the same is not received within ten days. Investors may
contact the Registrar to the Issue at the address given below. The instructions to the
Self Certified Syndicate Banks have been issued on March 29.2016 for unblocking of funds.
The Equity Shares Allotted to the successful Applicants have been credited on March
30,2016 to their beneficiary accounts subject to validation of the account deiails with
the depositories concerned.
INVESTORS PLEASE NOTE
These details of the Allotment made shall be hosted on the website of Registrar to the Issue. Karvy Computershare Private Limited at www.karismakarvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant Serial number of the Bid-Cum-Application form, number of Equity Shares bid for. name of the Designated Intermediary, place where the bid was submitted and payment details at the address given below:
Karvy Computershare Private Limited
Karvy Selenium Tower B, Ptol 31-32. Gacchibowli Financial District.
Nanakramguda. Hyderabad 500 032.
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 BHARAT WIRE ROPES LIMITED,