|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 Not for publication or distribution, directly or indirectly outside India.)
PANACHE DIGILIFE LIMITED
(Formerly known as VARDHAMAN TECHNOLOGY LIMITED)
Our Company was originally incorporated as "Vardhaman Technology Private Limited" at Mumbai, Maharashtra as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 30, 2007 bearing Corporate Identification Number U72200MH2007PTC169415 issued by Registrar of Companies, Maharashtra, Mumbai. Subsequently, our Company was converted into Public Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on January 23,2017 and the name of our company was changed to "Vardhaman Technology Limited" and a fresh Certificate of Incorporation Consequent upon Conversion from Private Company to Public Company dated February 15,2017 was issued by the Registrar of Companies, Mumbai, Maharashtra. Further, the name of our Company was changed to "Panache Digilife Limited" and a Certificate of Incorporation pursuant to change of name dated February 22,2017 was issued by the Registrar of Companies, Maharashtra, Mumbai. The Corporate Identification Number (CIN) of our Company is U72200MH2007PLC169415. For details of incorporation, change of name and registered office of our Company, please refer to chaptertitled "General Information" and "Our History and Certain Other Corporate Matters" beginning on page 66 and 167 respectively of the Prospectus.
Registered Office: Unit No. 201/8, Raheja Plaza-1,
L.B.S. Marg, Ghatkopar (West), Mumbai - 400086, Maharashtra.
PROMOTERS OF OUR COMPANY: AMIT RAMBHIA & NIKIT RAMBHIA
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF 18,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 81 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 71 PER EQUITY SHARE) AGGREGATING UP TO RS. 1,458.00 LAKHS (THE "ISSUE"), OF WHICH 92,800 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 81/- PER EQUITY SHARE, AGGREGATING RS. 75.17 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 17,07,200 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 81/- PER EQUITY SHARE, AGGREGATING RS. 1,382.83 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.00% AND 28.45% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
RISKS TO INVESTORS:
1. As on date of the Prospectus, the average cost of acquisition per
Equity Share by our Promoters viz. Nikit Rambhia is Rs 0.71 and Amit Rambhia is Rs. 0.71
In terms of Prospectus dated April 18,2017 and as per Regulation 43(4) of SEBI (ICDR)
Regulations, 2009 wherein
THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
The Equity Shares of our Company 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 from time to time. Our Company has received an approval letter dated March 21,2017 from NSE for using its name in the Issue document for listing of our shares on the EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this Issue, EMERGE Platform of the National Stock Exchange of India Limited shall be the Designated Stock Exchange.
The Issue has received 1,491 applications for 41,74,400 Equity shares (Before Technical Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 92,800 Equity Shares. The issue was subscribed to the extent of 2.32 times as per the application data (before technical rejection, bids not banked and invalid duplicate bids). After considering the technical rejections cases, the issue was subscribed 2.21 times. The details of application received (Before Technical Rejection but after bids not banked and invalid duplicate bids)
ALLOCATION: The Basis of Allotment was finalized in consultation with
the Designated Stock Exchange - EMERGE Platform of the National Stock Exchange of India
Limited on April 20,2017
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 2.27 times. Total number of shares allotted in this category is 7,37,600 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on April 21,2017 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 April
25,2017. Further, the instructions to SCSBs shall be issued on April 21,2017 for
unblocking of funds. The Equity Shares allocated to successful applicants are being
credited to their beneficiary accounts subjectto 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
the 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 April
25,2017 subject to receipt of listing and trading approvals from NSE.
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 PANACHE