|Basis of Allotment|
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE. PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
|CLEAN SCIENCE AND TECHNOLOGY LIMITED|
Our Company was incorporated as 'Sri Distikemi Private Limited' on November 7, 2003 in Pune, Maharashtra as a private limited company under the Companies Act, 1956, as amended. Thereafter, the name of our Company was changed to "Clean Science and Technology Private Limited" pursuant to a resolution passed by our shareholders in an extraordinary general meeting held on July 31, 2006 and a fresh certificate of incorporation, dated August 25, 2006 was issued by the Registrar of Companies, Pune ("RoC"). Subsequently, our Company was converted into a public limited company pursuant to a resolution passed by our Shareholders at an extraordinary general meeting held on February 25, 2021 and a fresh certificate of incorporation dated March 4, 2021 was issued by the RoC consequent upon conversion, recording the change in the name of our Company to Clean Science and Technology Limited. For details of change in the name and registered office of our Company, see "History and Certain Corporate Matters" beginning on page 141 of the Prospectus dated July 12, 2021 (the "Prospectus").
|Registered and Corporate Office No. 503, Pentagon Tower P-4, Magarpatta City, Hadapsar, Pune-411 013 Maharashtra, India|
|Contact Person: Mahesh Arvind Kulkarni, Company Secretary and Compliance Officer;|
|Tel: +91 2026899953, Fax: +91 2026898894 E-mail: email@example.com; Website www.cleanscience.co.in.|
|Corporate Identity Number U24114PN2003PLC018532|
|BASIS OF ALLOTMENT|
INITIAL PUBLIC OFFER OF 17,184,682 EQUITY SHARES OF FACE VALUE OF Rs.1 EACH ("EQUITY SHARES") OF CLEAN SCIENCE AND TECHNOLOGY LIMITED ("COMPANY") FOR CASH AT A PRICE OF Rs. 900 PER EQUITY SHARE THROUGH AN OFFER FOR SALE OF 17,184,682 EQUITY SHARES ("OFFER FOR SALE" OR "OFFER") AGGREGATING TO Rs.15,466.22 MILLION, CONSISTING OF 2,711,288 EQUITY SHARES BY ASHOK RAMNARAYAN BOOB AGGREGATING TO Rs. 2,440.16 MILLION, 2,145,100 EQUITY SHARES BY KRISHNAKUMAR RAMNARAYAN BOOB Rs. AGGREGATING TO Rs. 1,930.59 MILLION, 450,055 EQUITY SHARES BY SIDDHARTHA ASHOK SIKCHI AGGREGATING TO Rs. 405.05 MILLION, 844,255 EQUITY SHARES BY PARTH ASHOK MAHESHWARI AGGREGATING TO Rs. 759.83 MILLION (COLLECTIVELY, THE "PROMOTER SELLING SHAREHOLDERS"), 2,711,288 EQUITY SHARES BY ASHA ASHOK BOOB AGGREGATING TO Rs.2,440.16 MILLION, 1,511,677 EQUITY SHARES BY ASHOKKUMAR RAMKISHAN SIKCHI HUF AGGREGATING TO Rs. 1,360.51 MILLION, 461.677 EQUITY SHARES BY KRISHNAKUMAR RAMNARAYAN BOOB HUF AGGREGATING TO Rs. 415.51 MILLION, 836,222 EQUITY SHARES BY ASHOK RAMNARAYAN BOOB HUF AGGREGATING TO Rs. 752.60 MILLION, 844,255 EQUITY SHARES BY NIDHI MOHUNTA Rs. AGGREGATING TO Rs. 759.83 MILLION, 934,188 EQUITY SHARES BY NILIMA KRISHNAKUMAR BOOBRs. AGGREGATING TO Rs. 840.77 MILLION, 489,200 EQUITY SHARES BY SHRADHA KRISHNAKUMAR BOOBRs. AGGREGATING TO Rs. 440.28 MILLION, 489,200 EQUITY SHARES BY PRASAD KRISHNAKUMAR BOOBRs. AGGREGATING TO Rs. 440.28 MILLION, 489,200 EQUITY SHARES BY POOJA VIVEK NAVANDAR* Rs. AGGREGATING TO Rs. 440.28 MILLION, 1,268,200 EQUITY SHARES BY ASHA ASHOK SIKCHI AGGREGATING TO Rs. 1,141.38 MILLION, 345,044 EQUITY SHARES BY KUNAL ASHOK SIKCHI AGGREGATING TO Rs. 310.54 MILLION, 313,811 EQUITY SHARES BY ASHOK SIKCHI AGGREGATING TO Rs. 282.43 MILLION, 304,000 EQUITY SHARES BY NANDITA SIKCHI AGGREGATING TO Rs. 273.60 MILLION AND 36,022 EQUITY SHARES BY GANAPATI DADASAHEB YADAV AGGREGATING TO Rs.32.42 MILLION (COLLECTIVELY, THE "OTHER SELLING SHAREHOLDERS", TOGETHER WITH PROMOTER SELLING SHAREHOLDERS, THE "SELLING SHAREHOLDERS").
*FIRST HOLDERS OF EQUITY SHARES. FOR DETAILS OF JOINT SHAREHOLDING, SEE "CAPITAL STRUCTURE" BEGINNING ON PAGE 69 OF THE PROSPECTUS.
|OFFER PRICE: Rs. 900 PER EQUITY SHARE OF FACE VALUE OF Rs. 1 EACH|
|ANCHOR INVESTOR OFFER PRICE: Rs. 900 PER EQUITY SHARE|
|THE OFFER PRICE IS 900 TIMES THE FACE VALUE|
|RISKS TO INVESTORS:|
|1.||The three book running lead managers ("BRLMs") associated with the Offer have handled 33 public issues in the past three years, out of which 11 issues closed below the issue price on listing date.|
|2.||The Price/Earnings ratio based on diluted EPS on a restated consolidated basis for Fiscal 2021 for the Company at the upper end of the Price Band is as high as 48.18 as compared to the average industry peer group PE ratio of 55.38.|
|3.||Average cost of acquisition of Equity Shares held by the Selling Shareholders ranges from Rs. Nil to Rs. 0.75 per Equity Share and Offer Price at upper end of the Price Band is Rs. 900.|
|4.||Weighted Average Return on Net Worth for Fiscals 2021,2020,2019 is 37.97%.|
|BID/ OFFER PERIOD: OPENED ON: WEDNESDAY, JULY 7, 2021|
|CLOSED ON: FRIDAY, JULY 9, 2021|
|ANCHOR INVESTOR BIDDING DATE WAS: TUESDAY, JULY 6, 2021|
The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"). Our Company, in consultation with the Book Running Lead Managers, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was to be reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price in the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares was to be added to the Net QIB Portion. Further. 5% of the Net QIB Portion was available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer was available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All potential Bidders (except Anchor Investors) were required to mandatory utilise the Application Supported by Blocked Amount ('ASBA') process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as the case may be to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure'' beginning on page 303 of the Prospectus.
The bidding for Anchor Investor opened and closed on July 6, 2021. The company received 41 Anchor Investor Application Forms from 25 Anchor Investors (including 7 mutual funds through 23 Mutual Fund Schemes) for 5,362,944 Equity Shares. The Anchor Investor price was finalized at Rs. 900 per Equity Share. A total of 5,155.404 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs. 4,639,863,600.00.
The Offer (excluding Anchor Investor Portion) received 2,435,167 applications for 1,138,366,656 Equity Shares (prior to technical rejections) resulting in 94.6330 times subscription. The details of the applications received in the Offer from various categories are as under (before technical rejections):
|Sr. No.||Category||No. of Applications||No. of Equity Shares applied||Equity Shares Reserved as per Prospectus||No. of times Subscribed||Amount (Rs.)|
|A||Retail Individual Investors||2,427,568||50,327,568||6,014,639||8.3675||45,303,757,412.00|
|C||Qualifies Institutional Investors (Excluding Anchor Investors)||231||556,957,328||3,436,936||162.0505||501,261,595,200.00|
A summary of the final demand as at different Bid prices is as under:
|Sr. No.||BID PRICE||BIDS QUANTITY||% to TOTAL||Cumulative Total||% Cumulative to Total|
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on July 14, 2021.
A. Allotment to Retail Individual Bidders (After Technical Rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs. 900 per Equity Share, was finalized in consultation with the BSE This category has been subscribed to the extent of 8.0883 times. The total number of Equity Shares Allotted in Retail Portion is 6.014.639 Equity Shares to 375.914 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:
|Sr. No.||Category||No. of Applications Received||% of Total||Total No. of Equity Shares applied||% to Total||No. of Equity Shares allotted per Bidder||Ratio||Total No. of Equity Shares allotted|
|15 Out of 31.735 Allottees from Serial no 2 to 13. were allotted 1(one) additional share||15:31735||15|
B. Allotment to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Price of Rs. 900 per Equity Share, was finalized in consultation with the BSE. The Non-Institutional Portion has been subscribed to the extent of 205.0998 times. The total number of Equity Shares Allotted in this category is 2,577,703 Equity Shares to 3,231 successful Non- Institutional Bidder. The category-wise details of the Basis of Allotment are asunder: (Sample)
|Sr. No.||Category||No. of Applications Received||%of Total||Total No. of Equity Shares applied||%to Total||No. of Equity Shares allotted per Bidder||Ratio||Total No. of Equity Shares allotted|
C. Allotment to QIBs (excluding Anchor Investors) (After Technical Rejections)
Allotment to QIBs, who have Bid at the Offer Price of Rs. 900 per Equity Share, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 162.0491 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 171,847 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 3.265,089 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 3,436,936 Equity Shares, which were allotted to 230 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:
D. Allotment to Anchor Investors
The Company, in consultation with the BRLMs, have allocated 5,155,404 Equity Shares to 25 Anchor Investors (through 41 Applications) at the Anchor Investor Offer Price of Rs. 900 per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.
The IPO Committee of our Company on July 15, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum refund intimation are being emailed to the email id or 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 July 14, 2021 and payment to non- Syndicate brokers have been issued on July 15, 2021. 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 July 15.2021 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 BSE and NSE on July 15, 2021 The Company has received listing and trading approval from BSE and NSE and the trading of the Equity Shares will commence on July 19, 2021.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascnbed to them in the Prospectus.
INVESTORS PLEASE NOTE
The details of the allotment made have been hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at 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 applicant. Bid cum Application Form number, number of Equity Shares bid for, name of the Member of the Syndicate, Bidder DP ID, Client ID. PAN 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|
|C 101,247 Park. L.B.S. Marg. Vikhroli (West). Mumbai - 400 083|
|Tel: +91 22 49186200, E-mail: firstname.lastname@example.org Website: www.linkintime.co.in,|
|Investor Grievance ID: email@example.com Contact Person: Shanti Gopalkrishnan,|
|SEBI Registration Number: INR000004058|
|For Clean Science and Technology Limited|
|On behalf of the Board of Directors|
|Date: July 16, 2021||Company Secretary and Compliance Officer|
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 CLEAN SCIENCE AND TECHNOLOGY LIMITED
Clean Science and Technology Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the Prospectus with RoC on July 12, 2021. The Prospectus shall be available on the website of SEBI at www.sebi.gov.in websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. Axis Capital Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited at www.axiscapital.co.in, www.jmfl.com and www.investmentbank.kotak.com respectively Bidders should note that Investment in equity shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" on page 20 of the Prospectus,
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144Aand referred to in the Prospectus as "U.S QIBs" (for the avoidance of doubt, the term "U.S. QIBs" does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the Prospectus as "QIBs")) in transactions exempt from, or not subject to, the registration requirements of the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S and pursuant to the applicable laws of the jurisdictions where those offers and sales are made.