|Basis of Allotment|
is only an advertisement for Information purpose. This is not a Prospectus announcement
and does not constitute an invitation or offer to acquire, purchase or subscribe for
securities. Not for publication or distribution, directly or indirectly outside India.)
BINDAL EXPORTS LIMITED
Our Company was originally formed and registered as a partnership firm at Surat under the Indian Partnership Act, 1932 in the name of "M/s J.B. Exports", pursuant to an Article of Agreement of Partnership dated February 04,1997. The name of the partnership firm was changed to "M/s Bindal Exports' w.e.f. March 31,2007 pursuant to an application made to Registrar of Firms, Surat in Form ŽB' dated April 04,2007. "M/s Bindal Exports" was then converted into a Joint Stock Company under part IX of the Companies Act, 1956 under the name of "Bindal Exports Private Limited" vide Certificate of Incorporation dated May 22, 2007 issued by Registrar of Companies, Gujarat, Dadra and Nagar Haveli bearing Corporate Identification Number U51109GJ2007PTC050915. Subsequently, our Company was converted into a Public Limited Company pursuant to Shareholders' Resolution passed at the Extraordinary General Meeting of our Company held on August 29,2016 and the name of our Company was changed to "Bindal Exports Limited" pursuant to issuance of fresh Certificate of Incorporation dated September 07,2016 by the Deputy Registrar of Companies, Ahmedabad. The Corporate Identification Number of our Company is U51109GJ2007PLC050915. For details of Incorporation, Change of Name and Registered Office of our Company, please refer to chapters titled "General Information" and "Our History and Certain Other Corporate Matter" beginning on page 68 and 172 respectively of the Prospectus.
Registered Office: Block No. 270, Near Kumbharia Bus stand,
Surat-Kadodara Road, Kumbharia, Surat, Gujarat - 395006, India Tel No.: +91 0261264
0706; Fax No.: +91 0261264 0705; E-mail: email@example.com; Website: www.bindalexports.com Corporate Identification
Number: U51109GJ2007PLC050915; Contact Person: Hiren Shah, Company Secretary
and Compliance Officer
PUBLIC ISSUE OF 12,48,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF BINDAL EXPORTS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 16 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 6 PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 199.68 LAKHS ("THE ISSUE"), OF WHICH 64,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 16 PER EQUITY SHARE, AGGREGATING RS. 10.24 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 11,84,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 16 PER EQUITY SHARE, AGGREGATING RS. 189.44 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.13% AND 25.74% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. In terms of Prospectus dated September 26,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein:
(a) minimum of 50% of the Net Offerto Public shall initially be made available to Retail Individual Investors.
(b) the balance net offer of shares to the public shall be made available for allotment to
(i) individual applicants otJierthan retail investors and
(ii) other investors including corporate bodies/ institutions irrespective of no. of shares applied for.
(c) the unsubscribed portion of the net offerto any one of the categories specified in (a) or (b) shall/may be made available for allacation 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 regards, specific attention is invited to chapter "Issue Procedure" on page 302 of the Prospectus.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE OF RS. 16 IS 1.6 TIMES OF THE FACE VALUE OF THE EQUITY SHARES. ISSUE OPENED ON SEPTEMBER 30, 2016 AND CLOSED ON OCTOBER 6, 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. Our Company has received an approval letter dated September 23,2016 from BSE for using its name in the Prospectus for listing of our Shares on BSE SME. The designated stock exchange is BSE SME.
The Issue has received 102 applications for 16,72,000 Equity shares (Before Technical Rejections) (including Market Maker Application of 64,000 Equity Shares) resulting 1.34 times subscription. After considering, a Technical Rejection case, the issue was subscribed 1.33 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 October 10,2016
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 16/- 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 64,000 Equity shares in full out of reserved portion of 64,000 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. 16/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.07 times. Total number of shares allotted in this category are 5,92,000 Equity Shares. The category wise 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 16/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.64 times. Total number of shares allotted in this category is 5,92,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on October 10,2016 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 shall be dispatched to the address of the Applicants as registered with the depositories / as filled in the application form on or before October 17, 2016. Further, the instructions to SCSBs shall be issued on October 13, 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 fortrading 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 October 17,2016 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 atthe address of the Registrar given below:
BIGSHARE SERVICES PRIVATE LIMITED E/2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (East), Mumbai 400 072. Tel.: +91-22-4043 0200; Fax: +91-22-2847 5207 Email: firstname.lastname@example.org; Website: www.bigshareonline.com Contact Person: Babu Raphael; SEBI Registration No.: INR000001385
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 BINDAL EXPORTS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.