|Basis of Allotment|
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSE AND NOT A PROSPECTUS ANNOUNCEMENT.)
AVSL INDUSTRIES LIMITED
CIN No.: U18101DL2003PLC121698
Our Company was incorporated as Udhav Fashion Apparels Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated August 08, 2003 in New Delhi. Subsequently, the name of our Company was changed to AVSL Industries Private Limited vide fresh certificate of incorporation dated October 07, 2008. Later, our Company was converted into public limited company pursuant to which the name of our Company was changed to "AVSL Industries Limited" vide fresh certificate of incorporation dated May 24, 2016. For further details, please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 127 of the Prospectus.
Registered Office: C-611-612, DSIDC Industrial Area, Narela, New Delhi-110040. | Tel. No.: +91 11 4561 1234. Corporate Office: Unit No. 1001, NDM-2, Wazirpur District Centre, Netaji Subhash Place, Pitampura, Delhi-110034. | Tel. No.: +91 11 45561232/33/34 Email: avsl email@example.com, avsl firstname.lastname@example.org I Website: www.avsl.co.in I Contact Person and Promoter of our Company: Mr. Sanjay Bansal
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 14,40,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF AVSL INDUSTRIES LIMITED ("AVSL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 36 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 26 PER EQUITY SHARE AGGREGATING RS 518.40 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 78,000 EQUITY SHARES OF RS 10 FULLY PAID UP EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 13,62,000 EQUITY SHARES OF RS 10 EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 27.01% OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION" BEGINNING ON PAGE 229 OF THE PROSPECTUS.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 36. THE ISSUE PRICE IS 3.60 TIMES THE FACE VALUE. ISSUE OPENED ON: THURSDAY, SEPTEMBER 15, 2016 ISSUE CLOSED ON: WEDNESDAY, SEPTEMBER 28, 2016
PROPOSED LISTING: THURSDAY, OCTOBER 06, 2016
The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). The Company has received an in-principle approval letter dated August 25,2016 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform.
For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Thursday, October 06,2016*
*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.
All Applicants participated in the Issue through Applications Supported by Blocked Amount ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").
The Issue has received 140 applications for 1596000 Equity Shares resulting in 1.11
times subscription (including reserved portion of Market Maker). The details of the
applications received in the Issue (before technical rejections) are as follows:
The details of applications rejected by the Registrar on technical grounds are detailed below: (Technical rejection)
After eliminating technically rejected applications, the following tables give us Category wise net valid applications:
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on October 03,2016.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 36 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 78000 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 36 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.44 times. The total number of shares allotted in this category is 297000 Equity Shares to 99 successful applicants.
The Category-wise details of the Basis of Allotment are as under:
C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs 36 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.72 times. The total number of shares allotted in this category is 1065000 Equity Shares to 32 successful applicants. Equity shares allotted in this category includes original reservation of 681000 equity shares and spill over from Retail Individual Investors Category of 384000 equity shares.
The Category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on October 03,2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants. The CAN and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories on or before October 05,2016. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to October 04,2016. In case the same is not received within four working days, investors may contact Registrar at the address given below. 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. The Company is taking steps to get the Equity Shares admitted for trading on NSE Emerge Platform within six working days from the date of the closure of the Issue.
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated September 07,2016 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.com All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, 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
E2 Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri East, Mumbai - 400072.
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF AVSL INDUSTRIES LIMITED.