|Basis of Allotment|
is only an advertisement for Information purpose. This is not a Prospectus announcement
and does not constitute invitation or offer to acquire, purchase
or subscribe for securities, Not for Publication or distribution, directly or indirectly outside India.
MADHAV COPPER LIMITED
Our Company was incorporated as "Madhav Copper Private Limited" at Bhavnagar, Gujarat as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated November 19,2012 bearing Corporate Identification Number U27201GJ2012PTC072719 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, our Company was converted in to Public Limited Company pursuant to Shareholders Resolution passed at the Extra-Ordinary General Meeting of our Company held on August 02,2016 and the name of our Company was changed to "Madhav Copper Limited" pursuant to issuance of fresh Certificate of Incorporation consequent upon conversion of Company from Private to Public Limited dated August 17,2016 issued by the Registrar of Companies, Ahmedabad, Gujarat. The Corporate Identification Number of our Company is U27201GJ2012PLC072719. 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 53 and 146 respectively of the Prospectus.
Registered Office: Plot No. 2107/D, Office No. 203,2nd Floor,
D&l Excelus, Waghawadi Road, Bhavnagar, Gujarat, 364001 India.
PROMOTERS OF OUR COMPANY: NILESH PATEL, BOHIT CHAUHAN & PIVYA MONPARA
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 5,53,600 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF MADHAV COPPER LIMITEDfTHE "COMPANY" FOR CASH AT A PRICE OF RS. 81 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 71 (THE "ISSUE PRICE"), AGGREGATING RS. 448.42 LAKHS ("THE ISSUE"), OF WHICH 28,800 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 81 PER EQUITY SHARE, AGGREGATING RS. 23.33 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 5,24,800 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 81 PER EQUITY SHARE, AGGREGATING RS. 425.09 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.96% AND 25.56% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated January 16,2017 and as per Regulation 43(4) of SEBI (ICDR)
Regulations, 2009 wherein
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE OF RS. 81 IS 8.1 TIMES OF THE FACE VALUE OF THE EQUITY SHARES. ISSUE OPENED ON MONDAY, JANUARY 23, 2017 AND CLOSED ON FRIDAY, JANUARY 27, 2017.
The Equity Shares offered through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"). In terms of the ChapterXB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, our Company has received an approval letter dated December 26,2016 from National Stock Exchange of India Limited for using its name in the offer Document for listing of our Shares on EMERGE Platform of National Stock Exchange of India Limited. The designated stock exchange is EMERGE Platform of the National Stock Exchange of India Limited ("NSE EMERGE").
The Issue has received 2617 applications for 56,88,000 Equity shares (Before Technical Rejections, Bids not Banked) (including Market Maker Application of 28,800 Equity Shares) resulting 10.27 times subscription. After considering, Technical Rejection cases, Bids not Banked and invalid Duplicate Bids) the issue was subscribed 10.00 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 - National Stock Exchange of India Limited on February 1,2017.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 81/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 28,800 Equity Shares in full out of reserved portion of 28,800 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. 81/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 10.49 times. Total number of shares allotted in this category is 371200 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 81/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 10.50 times. Total number of shares allotted in this category is 1,53,600 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on February 2,2017 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 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 February 6,2017. Further, the instructions to SCSBs shall be issued on February 2,2017 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 EMERGE Platform of National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before February 6,2017 subject to receipt of listing and trading approval from National Stock Exchange of India Limited.
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 MADHAV COPPER