|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 Not for publication or distribution, directly or indirectly outside India.)
GUJARAT HY-SPIN LIMITED
Our Company was incorporated as "Gujarat Hy-Spin Private Limited" in Gujarat as a private limited company under the provisions of the Companies Act, 1956 and a Certificate of Incorporation dated February 01, 2011 bearing Corporate Identification Number U17110GJ2011PTC063898 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, our Company was converted into a Public Limited Company pursuant to special Resolution passed at the Extra-Ordinary General Meeting of the Company held on June 13, 2016 and the name of our company was changed to "Gujarat Hy-Spin Limited" A fresh Certificate of Incorporation consequent upon conversion to public limited company was issued by the Registrar of Companies, Ahmedabad on August 5, 2016. The Corporate Identity Number of our Company is U17110GJ2011PLC063898. 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 59 and 143 respectively of this Prospectus.
Corporate Identification Number: U17110GJ2011PLC063898; Contact Person: Mahendra Rajput, Company Secretary and Compliance Officer
PROMOTERS OF OUR COMPANY: MAGANLAL PARVADIYA AND CHANDULAL PARVADIA
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFER OF 44,50,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF GUJARAT HY-SPIN LIMITED (THE "COMPANY" OR THE "OFFER OR") FOR CASH AT A PRICE OF RS. 10/- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 445.00 LAKHS ("THE OFFER"), OF WHICH 2,30,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 10/- PER EQUITY SHARE, AGGREGATING RS. 23.00 LAKHS IS 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 42,20,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 10/- PER EQUITY SHARE, AGGREGATING RS. 422.00 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTES 26.57% AND 25.19% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated January 16, 2018 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein:
a) A minimum of 50% of the Net Offer to Public shall initially been made available to Retail Individual Investors.
b) The balance net offer of shares to the public shall be made available for allotment
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 "Offer Procedure" on page 221 of the Prospectus.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH. THE OFFER
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 January 2,2018 from BSE for using its name in the Prospectus for listing of our Shares on BSE SME. The designated stock exchange is BSE LIMITED.
SUBSCRIPTION DETAILS The Issue has received 1497 applications for 1,78,60,000 Equity shares (Before Technical Rejections but after Bids not Banked and Invalid Duplicate Bids, Bid not registered) (including Market Maker Application of 2,30,000 Equity Shares) resulting 4.01 times subscription. After considering, a Technical Rejection case, the issue was subscribed 3.93 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):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE LTD on February 05, 2018
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 10/- 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 2,30,000 Equity shares in full out of reserved portion of 2,30,000 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. 10/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 4.08 times. Total number of shares allotted in this category are 37,10,000. Equity Shares. The category wise basis of allotment is as under:
Note: In view of the explanation provided under sub-regulation (4) of regulation 43 of SEBI (ICDR) Regulation, 2009, the Retail Category has applied for 87.72% and 12.28% by other than retail investors; accordingly, we have derived the offer size for different categories. Further, owing to rounding off, an additional share has been proportioned to be allotted in retail investors.
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 10/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 4.16 times. Total number of shares allotted in this category is 510000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on February 06, 2018 has
taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock
Exchange viz. BSE LIMITED 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.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 Registrargiven 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 GUJARAT HY-SPIN LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.