| Basis of Allotment |
| (THIS
IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY. 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 NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY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)
GLOBAL EDUCATION LIMITED Our Company was incorporated on June 30, 2011 as Global Business School (India) Private Limited under the provisions of the Companies Act, 1956 vide Certificate of Incorporation bearing No. 219291 dated June 30, 2011 issued by the Registrar of Companies, Maharashtra at Mumbai. Subsequently, the name of our Company was changed from Global Business School (India) Private Limited to Global Education Private Limited pursuant to shareholders resolution passed in the Extra-ordinary General Meeting held on November 26, 2011. A fresh Certificate of Incorporation consequent upon change of name was granted to our Company on December 12, 2011 by the Registrar of Companies, Maharashtra at Mumbai. Subsequently, our Company was converted into a public limited company pursuant to special resolution passed at the Extra-ordinary General Meeting of our Company held on November 01,2016 and the name of our Company was changed to Global Education Limited and a Fresh Certificate of Incorporation bearing CIN U80301MH2011PLC219291 dated November 15,2016 was issued by the Registrar of Companies, Maharashtra at Mumbai. For details of changes in name and registered office of our Company, please refer to the section titled "History and Certain Corporate Matters" beginning on page 109 of the Prospectus. Registered Office: Office No. 112,1st Floor of
Building "Pancfiratna CHSL', M. RMarg, Opera House, Girgaon, Mumbai-400004,
Maharashtra, India. PROMOTERS OF THE COMPANY: MR. RISHABH SUNIL SURANA AND MIGHTY OVERSEAS PRIVATE LIMITED BASIS OF ALLOTMENT PUBLIC ISSUE OF 6,83,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF GLOBAL EDUCATION LIMITED ("GEL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 150 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO 71024.S0 LAKHS ("THE ISSUE"), OF WHICH, 35,000 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (AS DEFINED IN THE SECTION "DEFINITIONS AND ABBREVIATIONS") (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 6,48,000 EQUITY SHARES OF RS 150 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE" AGGREGATING UP TO RS 972 LAKHS (THE "ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.51% AND 26.10%, RESPECTIVELY OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY. ISSUE PRICE: RS 150 PER EQUITY SHARE OF FACE VALUE RS 10 EACH. THE ISSUE
PRICE IS 15 TIMES OF THE FACE VALUE. The Equity Shares Issued 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 Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended and has received an approval letter dated February 01,2017 from NSE for using its name in the Issue Document for listing of our shares on the Emerge Platform of NSE. For the purpose of this Issue, the designated Stock Exchange will be (NSE"). The trading is proposed to be commenced on or about March 02,2017, subject to receipt of listing and trading approvals from NSE. All Applicants were allowed to participate in the Issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs") SUBSCRIPTION DETAILS The Issue has received 37908 applications for 5,61,75,000 Equity Shares resulting in 82.25 times subscription (including reserved portion of market maker). The details of the applications received in the Issue (before technical rejections) are as follows: Detail of the Applications Received (Before Technical Rejection):
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
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 February 27,2017 A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 150 per Equity Share, was finalised 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 35,000 Equity shares. The category wise details of the Basis of Allotment are as under:
B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 150 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 83.825 times i.e. for 324000 Equity Shares. Total number of shares allotted in this category is 430000 Equity Shares to 430 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 & Withdrawal): The Basis of Allotment to Other than Retail Individual Investot, at the Issue price of Rs 150 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 83.96 times i.e. for 324000 shares the total number of shares allotted in this category is 218000 Equity Shares to 91 successful applicants. The category wise details of the Basis of Allotment are as under:
*No Allotment of shares due to proportionate shares available below 500. The Board of Directors of the Company at its meeting held on February 28,2017 has approved the Basis of Allocation of Equity Shares as 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-cum-Refund advices and allotment advice and/or notices will be forwarded to the email id's and address of the Applicants as registered with the depositories / as filled in the application form on or before March 01,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount has been processed on February 28,2017. In case the same is not received within 10 days, investors may contact 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 the SME Platform of National Stock Exchange of India Limited (NSE EMERGE) 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 meanings assigned to them in the Prospectus dated February 22,2017 ("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
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 GLOBAL EDUCATION LIMITED. |
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