|Basis of Allotment|
is a Public Announcement for Information purposes only. Thie is not a Prospectus
announcement and does not
constitute an Invitation or Offer to acquire, purchase subscribe For Securities, Not for distribution outside India,)
Siddharth Education Services Limited
Our Company was incorporated on December 20, 2005 as Siddharth Education Services Limited under the provisions of Act with registration no. 158161 and obtained certificate of commencement of business on January 16, 2006 from the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U80902MH2005PLC158161.
Registered Office: Unit No. 101, 1st Floor, Chirag
Arcade, behind Nagrik Stores. E.R. Road, Thane- 400601, Maharashtra. India. | Tel:
OUR PROMOTER: MR. VINAY SHANTARAM BHAGWAT
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 31,08,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF
SIDDHARTH EDUCATION SERVICES LIMITED (THE "COMPANY" OR THE "ISSUER")
FOR CASH AT A PRICE OF RS 35 PEP EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS 25 PER
EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS 1087.80 ("THE
ISSUE"), OF WHICH 1,56,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR CASH AT A
PRICE OF RS 35 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF 25 PER EQUITY SHARE
AGGREGATING TO RS 54.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE
ISSUE (THE ''MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER
RESERVATION PORTION i.e. NET ISSUE OF 29,52,000 EOUITV SHARES OF FACE VALUE OF 10 EACH AT
A PRICE OF RS 35 PER EQUITY SHARE AGGREGATING TO RS 1033.20 LAKHS IS HEREIN AFTER REFERRED
TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.79% AND
25.45% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY
ISSUE PRICE: RS 35 PER EQUITY SHARE. THE FACE VALUE OF THE
The Equity Shares offered through the Draft Red Herring prospectus are proposed to be listed on SME Platform of BSE Limited ("BSE SME"). In terms of the Chapter XB of the SEBI (ICDR) Regulation, 2009, as amended from time to time, our Company has received an observation letter dated September 13, 2017 from BSE for using its name in this offer document for listing our shares on the SME Platform of BSE Limited. For the purpose of this Issue, the designated Stock Exchange will be the BSE Limited ("BSE'). The trading is proposed to be commenced with the effect from Thursday, October 12, 2017. subject to receipt of listing and trading approvals from the BSE.
All Applicants participated in the issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").
The Issue has received 347 applications for 39,76,000 Equity Shares resulting in 1.2793
times subscription (including reserved portion of Market Maker). The details of the
applications received in the Issue (before technical rejections) are as follows:
The details of applications rejected by the Registrar on technical grounds / withdrawal are detailed below: Technical rejection /Withdrawal
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on October 10, 2017.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 35 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.0000 times. The total number of shares allotted In this category Is 156.000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 35 per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.7995 times. The total number of shares allotted in this category is 1,180,000 Equity Shares to 295 successlul applicants. The retail category has applied for 31.55% of the valid applications under the net offer to public
The Category-wise details of the Basis of Allotment are as under:
C. Allocation to Non Retail Investors (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 35 per Equity Share, was finalized in consultation with BSE. The Category was subscribed by 1.444 times. The total number of Shares allotted in this category is 1,772,000 Equity shares.
The Board of Directors of the Company at its meeting held on October 10, 2017 has taken on record the Basis of Allocation of Equity Shanes approved by the Designated Stock Exchange viz. BSE and has authorised the corporate action for the transfer of the Equity Shares to various successlul applicants.
The CAN and allotment advice and/or notices are being dispatched to the address of the Applicants as registered with the depositories on or before October 11, 2017. Further, the instructions to Self Certified Syndicate Banks are being processed on October 10,2017. 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 lo get the Equity Shares admitted for trading on the BSE SME Platform 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 meaning assigned to them in the Prospectus dated October 07, 2017. ("Prospectus")
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue. KARVY COMPUTERSHARE PRIVATE LIMITED at www.karisma.karvy.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:
KARVY COMPUTERSHARE 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 SIDDHARTH EDDCATION SERVICES LIMITED.