|Basis of Allotment|
|(THIS IS ONLY AN
ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT, NOT FOR
DISTRIBUTION OUTSIDE INDIA.)
KWALITY PHARMACEUTICALS LIMITED
Our Company was incorporated as 'Kwalliy Pharmaceuticals Private Limited' a private limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated May 04, 1983 Issued by the Registrar of Company, Punjab, Himachal Pradesh and Chandigarh. Thereafter, our Company was converted Into a public limited company under the Companies Act, 2013 and the name of our Company was changed to its present name 'Kwality Pharmaceuticals Limited' pursuant to fresh certificate of Incorporation consequent upon change of name on conversion to public limited company dated December 28,2015 Issued by the Registrar of Companies, Chandigarh. For further details of our Company, please refer to the chapters titled 'General Information' and 'History and Certain Corporate Matters' on page numbers 42 and 120, respectively, of the Prospectus
Registered Office: Village Nagkalan. Manjitha Road.
Amritsar, Punjab -143 601. India. Tel: +91- 0183-2774321-25; Fax:
BASIS OF ALLOTMENT
PUBLIC OFFER OF 13,80,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF KWALITY PHARMACEUTICALS LIMJTED ("THE COMPANY" OR "KPL") FOR CASH AT A PRICE OF RS 45.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 35.00 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO RS 621.00 LAKHS ("THE OFFER") CONSISTING OF A FRESH ISSUE OF 1,80,000 EQUITY SHARES AGGREGATING TO RS 81.00 LAKHS (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 12,00,000 EQUITY SHARES BY SELLING SHAREHOLDER AGGREGATING TO RS 540.00 LAKHS ("OFFER FOR SALE"), OF WHICH. 72,000 EQUITY SHARES AGGREGATING TO RS 32.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION I.E. OFFER OF 13,08,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN OFFER PRICE OF RS 45.00 PER EQUITY SHARE AGGREGATING TO RS 588.60 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 26.60% AND 25.21%. RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE OFFER PRICE OF RS 45.00
IS 4.5 TIMES OF THE FACE VALUE
The Equity Shares of the Company are proposed to be lisled on the SME Platform of BSE Limited (BSE). In terms of the Chapiter XB of the SEBI (ICDR) Regulations, as amended, we are not required to obtain an in-principal listing approval for the shares being offered in this Offer. However, our Company has received an approval letter dated June 17, 2016 from BSE, for using its name in this offer document for listing of our shares an the SME Platform of BSE. For the purpose of this Offer, the designated stock Exchange will be the BSE.
THIS OFFER IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE "SEBI (ICDR) REGULATIONS"), AS AMENDED THIS OFFER IS A FIXED PRICE OFFER AND ALLOCATION IN THE NET OFFER TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "OFFER PROCEDURE" ON PAGE 259 OF THE PROSPECTUS.
The offer has received 249 applications for 13,80,000 Equity Shares resulting in 1.35 times subscription. The details of the applications received in the Offer (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received (Betare Technical Rejection):
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
After eliminating technically rejected applications, the following tables give us category wise net valid applications:
*In the event of oversubscription, the allotment will be made on a
proportionate basis in marketable lots. There was under-suhscripiion of 1,56,000 Equity
Shares in Retail Category & over subscription 6,15,000 Equity Shares in Non - Retail
Category, before spill over. The unsubscribed portion of Retail Category i.e. 1,56,000
Equity Shane has been added to the Non-Retail Category. The Basis ot Allotment was
finalised in consultation with the Designated Stock Exchange - BSE Ltd on July 13,2016.
B. Allocation to Retail Individual Investors (After Technical
Rejections & Withdrawals): TheBasis of Allotment to the Retail Individual
Investors, at the Offer Price of Rs.45 per Equity Shane, was finalised in consultation
with USE. The catepory was subscribed by 0.76 times i e. for 498,000 shares the total
number of shares allotted in this category is 4,98,000 Equity Shares to 166 successlul
C. Allocation to Non - Retails Category (After Technical
Rejections & Withdrawals): The Basis of Allotment to the Non - Retail
Investors, at the Offer Price of Rs. 45 per Equity Share, was finalised
in consultation with BSE. The category was subscribed by 1.57 times i e. for 12,69,000
shares the total number of shares allotted in this category is 8,l0,000 Equity Shares to
74 successful applicants.
The Board of Directors of the Company at its meeting held on july
13,2016 has taken on record the basis of allotment of Equity Share, as approved by the
designated Stock Exchange viz. BSE and has authorized the corporate action for the
allotment of the Equity Shares to various successful applicants.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated June 20, 2010 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made has been hosted on the website of Ihe Registrar to the Offer, Big Shane Services Private Limited at Website: www.bigshareonline.com All future correspondence in this regard rnay kindly be addressed to the Registrar to the Offer 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 given below:
BIG SHARE SERVICES PRIVATE LIMITED
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SNARES ON LISTING OR THE BUSINESS PROSPECTS OF THE KWALITY PHARMACEUTICALS LIMITED.