|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 Not for publication or distribution, directly or indirectly outside India.)
VAISHALI PHARMA LIMITED
Our Company was incorporated as "Vaishali Pharma Private Limited" at Mumbai, Maharashtra as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated April 25,2008 bearing Corporate Identification Number U52310MH2008PTC181632 issued by Assistant Registrar of Companies, Mumbai, Maharashtra. On July 01, 2008, our Company acquired the business of proprietorship concern of our promoter Atul Vasani viz. M/s. Vaishali Pharmachem through Business Assignment Agreement. Consequently Business of this Proprietorship firm was merged into Vaishali Pharma Private Limited. Subsequently, our Company was converted into Public Limited Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on June 13, 2017 and the name of our Company was changed to "Vaishali Pharma Limited" and a Fresh Certificate of Incorporation Consequent upon Conversion from Private Company to Public Company dated June 21, 2017 was issued by the Registrar of Companies, Mumbai, Maharashtra. The Corporate Identification Number of our Company is U52310MH2008PLC181632. For details of Incorporation, Change in the Name and Registered Office of our Company, please refer to chapters titled "General Information" and "Our History and Certain Other Corporate Matters" beginning on pages 60 and 163 respectively of the Prospectus.
Registered Office: 706 to 709, 7th Floor, Aravali Business
Center, R.C. Patel Road, Off Sodawala Lane, Borivali (West), Mumbai- 400092, Maharashtra,
PROMOTERS OF OUR COMPANY: ATUL VASANI & JAGRUTI VASANI
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF 19,76,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 72/-PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 62/- PER EQUITY SHARE) AGGREGATING UP TO RS. 1422.72 LAKHS (THE "ISSUE"), OF WHICH 1,04,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 72/- PER EQUITY SHARE, AGGREGATING RS. 74.88 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 18,72,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 72/- PER EQUITY SHARE, AGGREGATING RS. 1347.84 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 29.98% AND 28.40% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OURCOMPANY.
RISKS TO INVESTORS:
I. As on date of the Prospectus, the average cost of acquisition per Equity Share by
our Promoters viz. Atul Vasani is Rs. 5.80 and JagrutI Vasani is Rs. 0.17
(a) minimum of 50% of the Net Offer to Public shall initially be made available to Retail Individual Investors.
(b) the balance net offer of shares to the public shall be made available for allotment to (i) individual applicants other than retail investors and
(ii) other investors including corporate bodies/ institutions irrespective of no. of shares applied for.
(c) the unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.
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 Issue Procedure" on page 300 of the Prospectus.
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 July 20, 2017 from NSE EMERGE 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 1238 applications for 37,44,000 Equity shares (Before Technical Rejections, bids not banked but after invalid duplicate bids) including Market Maker Application of 1,04,000 Equity Shares. The issue was subscribed to the extent of 1.89 times as per the application data (before technical rejection, bids not banked but after invalid duplicate bids). After considering the technical rejections cases, the issue was subscribed 1.55 times (including market maker). The details of application received (Before Technical Rejection but after bids not banked, invalid duplicate bids and application banked, bid not registered)
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 August 16,2017
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 72/- 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 1,04,000 Equity shares in full out of reserved portion of 1,04,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotmentto the Retail Individual Investors, at the issue price of Rs. 72/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.59 times. Total number of shares allotted in this category is 11,64,800 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 Allotmentto other than Retail Individual Investors, at the issue price of Rs 72/-per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.59 times. Total number of shares allotted in this category is 7,07,200 Equity Shares. The category wise basis of allotment is as under:
* Additional Lot of 1600 shares given in applied shares category 3200 after proportionate allocation.
The Board of Directors of the Company at its meeting held on August 17, 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 August 21, 2017. Further, the instructions to SCSBs shall be issued on August 17, 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 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 August 21, 2017 subject to receipt of listing and trading approvals from NSE.
INVESTORS PLEASE NOTE
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 VAISHALI PHARMA LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.