|Basis of Allotment|
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT.)
VADIVARHE SPECIALITY CHEMICALS LIMITED
Our Company was originally Incorporated on February 23, 2009 as "Vadivarhe Speciality Chemicals Limited' vide Registration no. 11 -190516/2008-2009 (CIN: U24100MH2009PLC190516) under the provisions of the Companies Act, 1956 with the Registrar of Companies, Maharashtra, Mumbai and received Certificate for Commencement of Business on March 06,2009. For further details please refer to chapter titled
"History and Certain Corporate Matters" beginning on page 108 of the Prospectus
Registered Office: Gat No. 204, Vadivarhe,
Igatpuri, Maharashtra - 422403, India. | Corporate Office: 1 st Floor, K. K.
Chambers, Sir R T. Road, Fort, Mumbai, Maharashtra-400001, India.
CONTACT PERSON : MR. JAYESH BHAGWATI PRASAD VAISHNAV, (COMPANY
SECRETARY & COMPLIANCE OFFICER)
BASIS OF ALLOTMENT
INITIAL PUBLIC ISSUE OF 34,44,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ("EQUITY SHARES") OF VADIVARHE SPECIALITY CHEMICALS LIMITED ("OUR COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 32.00 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO 71446.48 LAKHS ("ISSUE") CONSISTING OF A FRESH ISSUE OF 6,89,000 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs. 289.38 LAKHS ("ISSUE") AND 27,55,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs. 1157.10 LAKHS THROUGH AN OFFER FOR SALE BY MR. SUNIL HARIPANT POPHALE (REFERRED AS PROMOTER SELLING SHAREHOLDER) OF WHICH 1,80,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH FOR A CASH PRICE OF Rs. 42.00 PER EQUITY SHARE, AGGREGATING TO Rs. 75.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 32,64,000 EQUITY SHARES OF FACE VALUE OF Rs.10.00 EACH AT AN ISSUE PRICE OF Rs. 42.00 PER EQUITY SHARE AGGREGATING TO Rs.1370.88 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.94% AND 25.53%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE 210 OF THE PROSPECTUS. THIS ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED FROM TIME TO TIME (THE "SEBIICDR REGULATIONS").
THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00 EACH AND
THE ISSUE PRICE IS Rs. 42.00 THE ISSUE PRICE IS 4.2 TIMES OF THE FACE VALUE
PROPOSED LISTING: JUNE 02, 2017
The Equity Shares offered through Prospectus are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE EMERGE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended; we are not required to obtain an in-principle listing approval for the shares being offered in this issue. However, our Company has received an approval letter dated May 03,2017 from NSE for using its name in this offer document for listing of our shares on the SME Platform of NSE ("NSE EMERGE"). For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced on or about June 02,2017.*
*Subject to receipt of listing and trading approvals from the 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")
The issue has received 20067 applications for 137343000 Equity Shares resulting in 39.88 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 table give us category wise net valid applications:
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on May 30,2017
A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The
Basis of Allotment to the Market Maker, at the issue price of Rs. 42 per Equity Share, was
finalised in consultation with National Stock Exchange Limited. The category was
subscribed by 1.00 times. The total number of shares allotted in this category is 1,80,000
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 42 per Equity Share, was finalized in consultation with National Stock
Exchange Limited. The category was subscribed by 35.86 times i.e. for 5,85,24,000 Equity
Shares. Total number of shares allotted in this category is 16,32,000 Equity shares to 544
C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs. 42 per Equity Share, was finalized in consultation with National Stock Exchange Limited. The category was subscribed by 47.54 times i.e. for 7,75,86,000 shares the total number of shares allotted in this category is 16,32,000 Equity sahres to 126 successful applicants. The category wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on May 30, 2017 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. NSE and at a meeting held on May 31,2017 and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.
The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before June 02, 2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or about May 31, 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 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 May 15,2017 ("Prospectus")
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, Bigshare Services India 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 VADIVARHE SPECILAITY CHEMICALS LIMITED