|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 Not for publication or distribution, directly or indirectly outside India.)
Monteil & Munero
Our Company was originally incorporated as Lorenzini Apparels Private Limited at National Capital Territory of Delhi and Haryana as a Private Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated May 09, 2007 bearing registration number 163192 issued by Assistant Registrar of Companies, Delhi. Subsequently our Company was converted into a Public Limited Company pursuant to special resolution passed by the shareholders at the Extraordinary General Meeting held on March 15, 2017 and fresh certificate of incorporation consequently upon change of name was issued by Assistant Registrar of Companies, Delhi dated March 30, 2017 and name of our Company was changed to Lorenzini Apparels Limited. For Further details of changes of name and registered office of our Company, please refer to the chapter titled "History and Certain Other Corporate Matters" beginning on page 80 of the Prospectus.
Registered and Corporate Office: TA 168 & 187 Ground Floor,
Gali No. 2, Tuglakabad Extn, New Delhi-110019, India.
PROMOTERS OF OUR COMPANY: SANDEEP JAIN AND DEEPIKA JAIN
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 44,70,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF LORENZINI APPARELS LIMITED ("THE COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 10/- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 447.00 LAKHS ("THE ISSUE"), OF WHICH 2,30,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- FOR CASH AT A PRICE OF RS. 10/- EACH AGGREGATING TO 23.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 42,40,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 10/-PER EQUITY SHARE, AGGREGATING TO RS. 424.00 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 44.09% AND 41.82%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
In terms of Prospectus dated January 22, 2018 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein
(a) minimum of 50% of the Net Offer to Public shall initially be made available to
Retail Individual Investors.
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 regard, specific attention is invited to chapter "Issue Procedure" on page 164 of the Prospectus.
FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH AND THE ISSUE PRICE
RS. 10.00 IS
Listing: - The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE SME"). 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 January 22,2018 from BSE for using its name in the offer Document for listing of our Shares on SME Platform of BSE. The Designated Stock Exchange is SME Platform of BSE Limited (BSE SME). The trading is proposed to commence on or before February 15, 2018*.
*subject to receipt of listing and trading approvals from BSE Limited.
All Applicant 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 411 applications for 72,70,000 Equity shares (Before Technical Rejections) (including Market Maker Application of 2,30,000 Equity Shares) resulting 1.63 times subscription. After considering, Technical Rejection cases, the issue was subscribed 1.04 times (including the Market Maker Portion). The details of application received (Before Technical Rejection)
The details of bids not banked
The details of applications rejected by the Registrar on technical grounds are detailed below:
Detail of the Applications Received (After Technical Rejection):
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on February 09,2018
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 10/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 1 times. The total number of shares allotted in this category is 2,30,000 Equity Shares in full out of reserved portion of 2,30,000 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. 10/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 1.04 times. Total number of shares allotted in this category is 36,30,000 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 10/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 1.05 times. Total number of shares allotted in this category is 6,10,000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on February 12, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE SME 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 February 15, 2018. Further, the instructions to SCSBs shall be issued on or before February 12, 2018 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 SME Platform of BSE within six working days from the date of the closure of the Issue.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrarto the Issue, Skyline Financial Services Private Limited at www.skylinerta.com. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:
SKYLINE FINANCIAL 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 LORENZINI APPARELS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.