|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 Not for publication or distribution, directly or indirectly outside India.)
IRIS BUSINESS SERVICES LIMITED
Our Company was incorporated under the provisions of Companies Act, 1956 as "IRISBusiness.com (India) Private Limited" in Mumbai vide Certificate of Incorporation issued by Registrar of Companies, Mumbai on October 3,2000. It was converted into a public limited company pursuant to shareholders resolution passed at Extra-ordinary General Meeting of our Company held on May 13,2010 and the name of our Company was changed to IRIS Business Services Limited and a fresh certificate of incorporation consequent upon Conversion of Private Company to Public Limited dated June 29,2010 was issued by Registrar of Companies, Maharashtra, Mumbai. The Corporate Identification Number of our Company is U72900MH2000PLC128943.For further 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 60 and page 116 of the Prospectus.
Registered Office: T-231, Tower 2,3rd Floor,
International Infortech Park, Vashi Station, Vashi Thane, Maharashtra 400703, India
PROMOTERS OF OUR COMPANY: MR. SWAMINATHAN SUBRAMANIAM, MS. DEEPTA
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 50,04,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF IRIS BUSINESS SERVICES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 32/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 22/- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 1601.28 LAKHS ("THE ISSUE"), OF WHICH 2,60,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 32/- PER EQUITY SHARE, AGGREGATING RS. 83.20 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION") THE ISSUE LESS MARKET MAKER RESERVATION I.E. ISSUE OF 47,44,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 32/- PER EQUITY SHARE, AGGREGATING RS. 1518.08 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.51 % AND 25.13% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated September 22,2017 and as per Regulation 43(4) of SEBI
(ICDR) Regulations, 2009 wherein:
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH.
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 September 22,2017 from BSE for using its name in the Prospectus for listing of our Shares on SME platform of BSE. The designated stock exchange is BSE Limited.
The Issue has received 375 applications for 1,13,72,000 Equity shares (Before Technical Rejections but after Bids not Banked and Invalid Duplicate BidsBid not registered) (including Market Maker Application of 2,60,000 Equity Shares) resulting 2.27 times subscription. After considering, a Technical Rejection case, ttie issue was subscribed 2.26 times (including the Market Maker Portion). The details of application received (Before Technical Rejection and after Bids not banked)
The details of applications rejected by the Registrar on technical grounds are detailed below:
Detail of the Applications Received (After Technical Rejection):
*The under subscription of 11,24,000 Equity Shares in the reatil individual investors category has been spilled over to other than retail individual investors. ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-BSE on October 09,2017
A. Allocation to Market Maker (After Technical Rejections and Revised Allocation: The Basis of Allotment to the Market Maker, at the issue price of Rs. 32/- 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 2,60,000 Equity shares in full out of reserved portion of 2,60,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections and Revised Allocation): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 32/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. Total number of shares allotted in this category are 12,48,000 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Other than Retail Individual Investor (After Technical Rejection and Revised Allocation): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 32/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 2.80 times. Total number of shares allotted in this category is 34,96,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on October 09,2017 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.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue at www.linkintime.co.in 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:
LINK INTIME INDIA 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 IRIS BUSINESS