|Basis of Allotment|
is only an advertisement for Information purposes and not a Prospectus announcement and
does not constitute an invitation or offer to acquire, purchase or subscribe for
Not for publication or distribution, directly or indirectly outside India.)
VIDLI RESTAURANTS LIMITED
Our Company was originally incorporated as "Kanisha Hotels Private Limited" under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated August 24,2007 bearing Registration No. 173446 issued by Assistant Registrar of Companies, Maharashtra, Mumbai. The name of our Company was changed to "Vithal Kamats Restaurants Private Limited" and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies on October 1, 2013. Subsequently, the name of our Company was changed to "Vidli Restaurants Private Limited" and a Certificate of Incorporation pursuant to change of name was issued by the Deputy Registrar of Companies on February 26,2015. Subsequently our Company was converted into a public limited company vide Certificate of Incorporation consequent upon conversion to Public Limited Company dated November 23,2015 and the name of our Company was changed to "Vidli Restaurants Limited". For details of incorporation, change of name and Registered Office of our Company, please refer to chapter titled "General Information" and 'Our History and Certain Other Corporate Matters' beginning on page 56 and 134 respectively of the Prospectus.
Registered Office: Office No. 26, Building No. 1, Ajay Mittal
Industrial Premises Limited, Marol, Andheri East, Mumbai-400059.
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 13,10,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF VIDLI RESTAURANTS LIMITEDfTHE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 10 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS.131.00 LAKHS ("THE ISSUE"), OF WHICH 70,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 10 PER EQUITY SHARE, AGGREGATING RS. 7.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 12,40,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 10 PER EQUITY SHARE, AGGREGATING RS. 124.00 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.25% AND 28.64% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated January 28,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein a minimum of 50% of the Net Offer to Public shall initially be 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. 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. All investors have participated in this offer through ASBA process. For details in this regard, specific attention is invited to chaptertitled "Issue Procedure" on page 269 of the prospectus.
THE FACE VALUE OF EQUITY SHARES IS RS. 10 EACH. THE ISSUE PRICE IS RS. 10.00. THE ISSUE PRICE IS 1.0 TIMES OF THE FACE VALUE ISSUE OPENED ON FEBRUARY 3, 2016 AND CLOSED ON FEBRUARY 5,2016.
The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ("BSE") ("BSE SME") in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time. The Company is not required to obtain an in-principle approval for the shares being offered in this Issue. However, the Company has received an approval letter dated January 27, 2016 from BSE for using its name in the Prospectus for listing of our Shares on SME platform of BSE. The designated stock exchange is SME platform of BSE.
The Issue has received 537 applications for 89,40,000 Equity shares (After Multiple Rejection but Before Technical Rejections)(including Market Maker Application of 70,000 Equity Shares) resulting 6.82 times subscription. After considering, Technical / Multiple Rejection cases, the issue was subscribed 6.70 times (including the Market Maker Portion).
The details of application received (Before Technical Rejection)
The details of applications rejected by the Registrar on technical grounds are detailed below:
Detail of the Applications Received (After Technical Rejection):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on February 10,2016.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 10/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 70,000 Equity shares in full out of reserved portion of 70,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): 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 7.00 times. Total number of shares allotted in this category is 6,90,000 Equity Shares to 69 successful applicants. The category wise detail of basis of allotment is as under:
C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 10/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 7.05 times. Total number of shares allotted in this category is 5,50,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on February 11, 2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and authorized corporate action for allotment of shares in dematerialized form to various successful applicants. The CAN 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 February 11,2016. Further, the instructions to SCSBs have been issued on February 10,2016 for unblocking of funds. 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. In case the same is not received within prescribed time, investors may contact the registrar to the issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE within Six working days from the date of the closure of the Issue.
The trading is proposed to commence on or before February 15,2016 subject to receipt of listing and trading approvals from BSE.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:
BIGSHARE SERVICES 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 VIDLI RESTAURANTS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.