|Basis of Allotment|
IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT
FOR DISTRIBUTION OUTSIDE INDIA.)
GIRIRAJ CIVIL DEVELOPERS LIMITED
Our Company was incorporated as "Giriraj Civil Developers Private Limited" on October 19, 2005 under the Companies Act, 1956 with the Registrar of Companies, Mumbai at Maharashtra bearing Registration No. 156879. The status of our Company was changed to a public limited company and the name of our Company was changed to "Giriraj Civil Developers Limited" by a special resolution passed on December 26, 2017. A fresh certificate of incorporation consequent to the change of name was granted to our Company on January 22, 2018, by the Registrar of Companies, Mumbai at Maharashtra. For further details, please refer the chapter "History and Certain Corporate Matters" on page no.103 of the Prospectus.
Registered Office: 101, Jaitirth Co-operative Housing
Society, Daulat Nagar, Road no 10, Borivali (East), Mumbai-400066
PROMOTERS OF OUR COMPANY: MR. MAHESH SHAH AND MRS. MAMTA SHAH
BASIS OF ALLOTMENT
PUBLIC OFFER OF 9,00,000 EQUITY SHARES OF RS. 10/- EACH ("EQUITY SHARES") OF GIRIRAJ CIVIL DEVELOPERS LIMITED ("GCDL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS. 100 PER SHARE (THE "OFFER PRICE"), AGGREGATING TO RS. 900.00 LAKHS ("THE OFFER") CONSISTING OF FRESH ISSUE OF 3,00,000 EQUITY SHARES AGGREGATING TO RS. 300.00 LAKHS AND AN OFFER FOR SALE OF 6,00,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS OUT OF WHICH 3,50,400 EQUITY SHARES ARE FROM PROMOTER SELLING SHAREHOLDERS AND REMAINING 2,49,600 EQUITY SHARES ARE FROM PROMOTER GROUP SELLING SHAREHOLDER AGGREGATING TO RS. 600.00 LAKHS ("OFFER FOR SALE"), OF WHICH 48,000 EQUITY SHARES OF RS. 10/- EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. OFFER OF 8,52,000 EQUITY SHARES OF RS. 10/- EACH IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 27.74% AND 26.26%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 AND THE OFFER PRICE IS 10.00 TIMES OF THE FACE VALUE
The Equity Shares of the Company are proposed to be listed on the Emerge 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 March 09, 2018. NSE shall be the Designated Stock Exchange for the purpose of this Offer. The trading is proposed to be commenced on April 02, 2018 (Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited).
The Offer is being made through the Fixed Price process, the allocation in the Net Offer 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 Offer of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Offer 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 and the Selling Shareholders in consultation with the Lead Manager and the Designation 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 Offer 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 Offer has received 484 applications for 9,31,200 Equity Shares resulting in 1.09 times subscription (based on bid bank data). The details of the applications received in the Net Offer (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received
Note: The Offer also includes 48,000 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 oversubscription, the allotment will be made on a proportionate basis in marketable lots. There was under subscription of 63,600 Equity Shares in Non - Retail Category & over subscription 1,30,800 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 March 26, 2018.
A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Offer Price of Rs. 100 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 48,000 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 Allotmentto the Retail Individual Investors, at the Offer Price of Rs.100 per Equity Share, was finalised in consultation with NSE. The total number of shares allocated was 4,89,600 Equity Shares (Including unsubscribe portion of 63,600 Equity Shares of Non Retails Category). The category was subscribed by 1.307 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 Offer Price of Rs. 100 per Equity Share, was finalised in consultation with NSE. The total number of shares allocated in this category is 3,62,400 Equity Shares. The under subscribed 63,600 Equity Shares in this Category have been spilled over to Retail Category. The category was subscribed by 0.85 times. The category-wise details of the Basis of Allotment are as under:
The Board of Directors of our Company at its meeting held on March 27, 2018 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 March 28, 2018 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 Offer at the address given below. Our Company is taking steps to get the Equity Shares admitted for trading on the Emerge Platform of National Stock Exchange of India Limited within 6 working days from the Closure of the Offer. The trading is proposed to be commenced on April 02,2018, 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 March 10, 2018 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made has been hosted on the website of the Registrar to the Offer, Cameo Corporate Services Limited at Website: www.cameoindia.com.
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer 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 given below
CAMEO CORPORATE SERVICES 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 GIRIRAJ CIVIL DEVELOPERS LIMITED.