|Basis of Allotment|
(This is only and advertisement for information purpose. This is not a Prospectus announcement and does not constitule an invitation or offer to accquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly outside India.)
MEHAI TECHNOLOGY LIMITED
Our Company was incorporated as Mehai Technology Privated Limited under the provisions of the Companies Act, 1956 vide Certificate of Incorporation date December 13, 2013 bearing Corporate Identification Number U74900TN2013PTC094159 issued by Registrar of Companies, Tamil Nadu, Chennai, Andaman and Nicobar islands. Subsequently, our Company was converted in to Public Limited Company pursuant to Shareholders Resolution passed at the Annual General Meeting of our Company held on June 12, 2017 and the name of our Company was changed to Mehai Technology Limited pursuant to issuance of fresh Certificate of Incorporation consequent upon conversion of Company from Private to Public Limited dated June 29, 2017 issued by the Registrar of Companies, Chennai. The Corporate Identification Number of our Company is U74900TN2013PLC094159. For further details please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 116 of the Prospectus.
Registered Office: 64, Thatha Muthirappan
Street, 2nd Floor, Broadway, Chennai - 600 001, Tamil Nadu, India
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 15,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID UP OF MEHAI TECHNOLOGY LIMITED ("MTL" OR THF "COMPANY" OR THF "ISSUER") FOR CASH AT A PRICE OF RS. 40/- PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 30/- PER EQUITY SHARE) AGGREGAT1NG RS. 600.00 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 78,000 EQUITY SHARES OF RS. 10/- EACH FULLY PAID UP WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 14,22,000 EQUITY SHARES OF RS. 10/- EACH FULLY PAID UP IS HEREINAFTER REFERHED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.01% AND 26.55% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPTTAL OF OUR COMPANY.
In terms of the Prospectus dated September 06, 2017 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein:
a) A minimum of 50% of the Net Issue of shares to the Public shall initially be made available to retail individual investors,
b) The balance Net Issue of shares to the public shall be made available for allotment to:
c) The unsubscribed portion of the Net Issue to any one of the categories specified in (a) or (b) shall/may be made available for allocationi in the other category, if so required.
Explanation: For the purpose of Sub-Regulation (4) of Regulations 43, if the retail individual investor category is entitled to more than fifty per cent on proportionate basis, the retail individual investors shall be allocated that higher percentage. " Issue Procedure" on page 191 of the Prospectus.
THE FACE VALUE DF THE EQUITY SHARES IS RS. 10.00 EACH.
The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE ("BSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, amended from time to time. The Company is not required to obtain in-principle approval for the shares being offered in this issue. However, the Company has received an approval letter dated August 22, 2017 from BSE for using its name in the Prospectus for listing of our shares on SME Platform of BSE For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited.
The Issue had received 594 applications for 20,88,000 Equity
Shares resulting in 1.39 times subscription (including reserved portion of Market Maker).
The details of the applications received in the Issue (before technical rejections) are as
The details of applications rejected by the Registrar on technical grounds are detailed below:
The details of the Applications Received (After Technical Rejection):
Allocation: The basis of Allotment was finalized in
consultation with the Designated Stock Exchange - BSE Limited on October 04, 2017.
C. Allocation to Other than Retail Investors (After Technical Rejections): The Basis of Allotment to the other than Retail Individual Investors, at the issue price of Rs. 40/- per Equity Share, was finalized in consultation with BSE. The Category was subscribed 1.410 times. The total number of shares allotted in this category is 1,68,000 Equity Shares.
The Category-wise details of the basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on October 04, 2017 has taken on record the basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer of the Equity Shares 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 October 09, 2017. Further, the instructions to Self Certified Syndicate Banks be issued on to October 05, 2017 for unblocking of funds. In case the same is not received within four working days, investors may contact Registrar 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 SME Platform of BSE within six working days from the date of the closure of the Issue. The trading is proposed to commence on Monday, October 09, 2017 subject to receipt of listing and trading approvals from the BSE Limited.
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 SHARE ON LISTING OR THE BUSINESS PROSPECTS OF THE MEHAI