|Basis of Allotment|
IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT
FOR DISTRIBUTION OUTSIDE INDIA.)
SHRADHA INFRAPROJECTS (NAGPUR) LIMITED
Our Company was originally Incorporated as "Shradha Realty Private Limited" on September 29, 1997 under the Companies Act, 1956 with the Registrar of Companies Act, 1956 with the Registrar of companies, Mumbai at Maharashtra bearing Registration No. 110971. The name of our Company was changed to "Shradha Infraprojects (Nagpur) Private Limited" on July 18, 2005 vide a fresh certificate of incorporation issued by the Registrar of Companies, Mumbai at Maharashtra. Subsequently, the status of our Company was changed to a public limited company and the name of our Company was changed to "Shradha Infraprojects (Nagpur) Limited" by a special resolution passed on August 21, 2017. A fresh Certificate of Incorporation consequent upon conversion was issued on September 08, 2017 by the Registrar of Companies, Mumbai at Maharashtra. For further details pertaining to the change of name of our Company and the change in our Registered Office, please refer to the chapter titled "History and Certain Corporate Matters" beginning on page no. 102 of the Prospectus.
Registered Office: Shradha House, Near Shri Mohini Complex,
Kingsway, Block No. F / 8, Nagpur - 440 001, Maharashtra.
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 27,04,000 EQUITY SHARES OF RS 10 EACH ("EQUITY SHARES") OF SHRADHA INFRAPROJECTS (NAGPUR) LIMITED ("SINL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 70 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS 1,892.80 LAKHS ("THE ISSUE"), CONSISTING OF FRESH ISSUE OF 21,32,000 EQUITY SHARES AGGREGATING TO RS 1,492.40 LAKHS AND AN OFFER FOR SALE OF 5,72,000 EQUITY SHARES BY RIAAN DIAGONISTIC PRIVATE LIMITED (THE "PROMOTER SELLING SHAREHOLDER") AGGREGATING TO RS 400.40 LAKHS ("OFFER FOR SALE"); OF WHICH 1,44,000 EQUITY SHARES OF RS 10 EACH 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. ISSUE OF 25,60,000 EQUITY SHARES OF RS 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.04% AND 26.55%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE ISSUE PRICE IS 7 TIMES OF THE FACE VALUE.
The Equity Shares of the Company are proposed to be listed on the SME Platform of National Stock Exchange of India Limited ("NSE"). Our Company has received an approval from NSE for the listing of the Equity Shares pursuant to letter dated November 06, 2017. NSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on December 11,2017 (Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited).
The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category shall be made as per Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Issue of Shares to the public shall be made available for allotment to Individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. Under subscription, if any, in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designated Stock Exchange. Such inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All Investors shall participate in the Issue only 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 Net Issue has received 2,213 applications for 72,66,000 Equity Shares resulting in
2.84 times subscription. The details of the applications received in the Net Issue (before
and after technical rejections & withdrawal) are as follows:
Note: The Issue also includes 1,44,000 Equity Shares reserved for Market Maker, which was subscribed by 1.00 time and there were no Technical Rejection & any withdrawal. In the event of over subscription, the allotment will be made on a proportionate basis in marketable lots. There was over subscription of 19,06,000 Equity Shares in Non - Retail Category & over subscription 26,76,000 Equity Shares in Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on December 06, 2017
A) Allocation to Market Maker (After Technical Rejections 8 withdrawals): The Basis of Allotmnet to the Market Maker, at the issue price of Rs 70 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,44,000 Equity Shares.
The category-wise details of the Basis of Allotment are as under:
B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs 70 per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 14,98,000 Equity Shares. The category was subscribed by 2.786 times. The category-wise details of the Basis of Allotment are as under:
C) Allocation to Non - Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs 70 per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category1 is 10,62,000 Equity Shares. The category was subscribed by 2.794 times. The category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at Its meeting held on December 06, 2017 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and / or notices have been dispatched to the address of the investors as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks have been processed on or before December 08, 2017 for unblocking of funds. The Equity Shares allotted 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 SME Platform of National Stock Exchange of India Limited within 6 working days from the Closure of the Issue. The trading Is proposed to be commenced on December 11, 2017, subject to receipt of listing and trading approvals from National Stock Exchange of India Limited.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated November 16, 2017 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made has been hosted on the website of the Registrar to
the Issue, Bigshare Services Private Limited at Website: www.bigshareonline.com
BIGSHARE SERVICES PRIVATE LIMITED
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 SHRADHA INFRAPROJECTS (NAGPUR) LIMITED.