|Basis of Allotment|
Is only an advertisement for information purposes and not a prospectus annooncement.)
AAKASH EXPLORATION SERVICES LIMITED
Corporate Identity Number: U23209GJ2007PLC049792
Our Company was originally incorporated as "Aakash Exploration Services Private Limited" on January 17, 2007 under the Companies. Act, 1956 vide certificate of incorporation Issued by the Registrar of Companies. Gujarat Dadra and Nagar Havelli. Subsequently. Our Company was converted in to a public company and consequently name was changed to "Aakash Exploration Services Limited' vide fresh certificate of incorporation dated November 08. 2017 issued by Registrar of Companies. Ahmedabad. For details of the changes In our name and registered office, please refler to the chapter titled 'History and Corporate Structure' beginning on page 131 of this Prospectus.
Registered Office: 424-426.4th Floor. Shukan Mall. Nr.
Visal Petrol Pump. Sabarmati. Ahmedabad. Gujarat 380005. India.
Promoters: Mr. Vipul Navin Haria: Mr. Hemang Navin Haria and Mr. Krunal Pravin Haria
BASTS OF ALLOTMENT
PUBLIC ISSUE OF 18,00,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH ("EQUITY SHARES")OF AAKASH EXPLORATION SERVICES LIMITED ("OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE RS 56 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 46 PER EQUITY SHARE) ('ISSUE PRICE") AGGREGATING TO RS 1008 LAKHS ("THE ISSUE"), OF WHICH 90,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR A CASH PRICE OF RS 56 PER EQUITY" SHARE, AGGREGATING TO RS 50.4 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER (MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 17.10.000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH AT AN ISSUE PRICE OF RS 56 PER EQUITY SHARE AGGREGATING TO RS 957.6 LAKHS (IS HEREINAFTER REFERRED TO AS THE "'NET ISSUE). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.67% AND 25.33%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE 240 OF THIS PROSPECTUS.
THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE "SEBI ICDR REGULATIONS"), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WELL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS. PLEASE REFER TO SECTION TITLED "ISSUE PROCEDURE" BEGINNING ON PAGE 250 OF THIS PROSPECTUS.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND THE
ISSUE PRICE IS
PROPOSED LISTING: APRIL 27,2018
The Equity Shares offered through this Prospectus are proposed to be listed on the SME
Platform of NSE ("NSE EMERGE Platform"), in terms of the Chapter XB of the SEBI
(ICDR) Regulations. 2009. as amended, our Company has received an In-principle approval
letter dated March 13.2018 from NSE for using Its name In this offer document for listing
of our shares on the SME Platform of NSE. For the purpose of this Issue, the Designated
Stock Exchange will be the NSE. The Trading is proposed to be commenced from Friday, April
27,2018. subject to receipt of listing and trading approvals from the National Stock
Exchange of India Limited.
The issue has received 491 applications for 23,22,000 equity shares resulting in 1.29 times subscription (including reserved portion of Market maker). The details nl applications received in the issue before technical rejections) are as follows:
The details of applications rejected by the Registrar on technical grounds are detailed below:
After eliminating technically rejected applications, the following table gives us category wise net valid applications:
Allocation: The Basis of Allotment was finalized in consultation with the Designated
Stock Exchange - National Stock Exchange- of India Limited- on April 24, 2018.
B) Allocation to Retail Individual Investors (After Technical Rejections):
The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 56 per
Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.11
times. The total number of shares allotted in this category is 856,000 Equity Shares to
428 successful applicants.
C) Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue pice of Rs 56 per Equity Share, was finalized in consultation with NSE The category was subscribed by 1.49 times, The total number of shares allotted in this category Is 8,54,000 Equity Shares to 9 successful applicants.
The Board of Directors of the Company at its meeting held on Saturday, April 25, 2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange v\z. National Stock Exchange of India Limited (NSE) and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The Refund / allotment intimation are being dispatched to the address of the Applicants as registered with the depositories on or before April 25, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to April 25.2018. In case the same Is not received within ten days, investors may contact Registrar at the address given below.
The Equity Shares allocated to successful applicants are being credited to their benelictary 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 NSE EMERGE Platform 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 Registrar to the Issue. SKYLINE FINANCIAL SERVICES PRIVATE LIMITED at www.skylinerta.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:
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 Aakash Exploration Services Limited.