Basis of Allotment

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(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE INDIA.)

GARV INDUSTRIES LIMITED

Corporate Identity Number: U74990DL2017PLC324826

Our Company was incorporated as Garv Industries Limited on October 12, 2017 under the Companies Act, 2013 with the Registrar of Companies, Delhi bearing Registration No. 324826 and having its Registered Office in Delhi. Our Company's Corporate Identity Number is U74990DL2017PLC324826. For further details,' please refer to the chapter titled "History and Certain Corporate Matters" beginning on page no. 75 of the Prospectus.

Registered Office: B - 502,5th Floor, Statesman House 148, Barakhamba Road, New Delhi -110 001 | Tel: +91 -11 - 2362 9277
E-mail: info@garvindustries.com | Website: www.garvindustries.com Contact Person: Ms. Anjali Trivedi, Company Secretary and Compliance Officer
Promoters: Mr. Rishu Agarwal, Mrs. Daya Bansal and R. S. Services Pvt. Ltd.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 32,00,000 EQUITY SHARES OF RS 10 EACH ("EQUITY SHARES") OF GARV INDUSTRIES LIMITED ("GIL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS 10 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS 320.00 LAKHS ("THE ISSUE"), OF WHICH 1,70,000 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 30,30,000 EQUITY SHARES OF RS 10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 31.37% AND 29.71%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS RS 10 AND
THE ISSUE PRICE IS 1.00 TIME OF THE FACE VALUE.
ISSUE OPENED ON APRIL 12,2018 AND CLOSED ON APRIL 17, 2018

The Equity Shares of the Company are proposed to be listed on the BSE Limited ("BSE"). Our Company has received an approval from BSE for the listing of the Equity Shares pursuant to letter dated March 22,2018. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on April 25,2018 (Subject to receipt of listing and trading approvals from the BSE 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 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 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").

SUBSRIPTION DETAILS

The Net Issue has received 260 applications for 42,90,000 Equity Shares resulting in 1.416 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:
Detail at ins Applications Received:

Category Befor Technical Rejections & Withdrawals After Technical Rejections & Withdrawals
No. of
Applications
No. of
Equity Shares
No. of
Applications
No. of
Equity Shares
Retail Individual Applicant 243 27,50,000 237 26,80,000
Non - Retail Applicant 17 15,40,000 15 8,00,000
Total 260 42,90,000 252 34,80,000

Note: The Issue also includes 1,70,000 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 over subscription of 1,10,000 Equity Shares in Non - Retail Category & of 3,40,000 Equity Shares in Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Limited on April 20, 2018.
A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs 10 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 1,70,000 Equity Shares. The category was subscribed by 1.00 times. The category-wise details of the Basis of Allotment are as under:

No.of Shares
Applied for
(Category wise)
No. of
Applications
received
% to
Total
No.of Shares
Applied in Each
Category
% to
Total
Allocation per
Applicant
Ratio of
Allottees to
Applicants
Total No.of
Shares allotted
1,70,000 1 100.00   1,70,000   100.00 1,70,000 1:1 1,70,000
TOTAL 1 100.00 1,70,000 100.00 1,70,000

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 10 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 23,40,000 Equity Shares. The category was subscribed by 1.15 times. The category-wise details of the Basis of Allotment are as under:

No.of Shares
Applied for
(Category wise)
No. of
Applications
received
% to
Total
No.of Shares
Applied in Each
Category
% to
Total
Allocation per
Applicant
Ratio of
Allottees to
Applicants
Total No.of
Shares allotted
10,000 206 86.92 20,60,000 76.87 10,000 203:206 20,30,000
20,000 31 13.08 6,20,000 23.13 10,000 1:1 3,10,000
TOTAL 237 100.00 26,80,000 100.00 23,40,000

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 10 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 43(4) of the SEBI (ICDR) Regulations, 2009, the total number of shares allocated in this category is 6,90,000 Equity Shares. The category was subscribed by 1.16 times. The category-wise details of the Basis of Allotment are as under:

No.of Shares
Applied for
(Category wise)
No. of
Applications
received
% to
Total
Total No.of Shares
Applied in Each
Category
% to
Total
Allocation per
Applicant
Ratio of
Allottees to the
Applicants
Total No.of
Shares allotted
30,000 8 53.33 2,40,000 30.00 20,000 1:1 1,60,000
30,000 (Lottery System - Serial Nos. of Qualifying Applicant are 1,3,5,6 and 8) 10,000 5:8 50,000
50,000 3 20.00 1,50,000 18.75 40,000 1:1 1,20,000
50,000 (Lottery System - Serial No. of Qualifying Applicant is 2) 10,000 1:3 10,000
60,000 1 6.67 . 60,000 7.50 50,000 1:1 50,000
1,00,000 2 13.33 2,00,000 25.00 80,000 1:1 1,60,000
1,00,000 (Lottery System - Serial No. of Qualifying Applicant is 1) 10,000 1:2 10,000
1,50,000 1 6.67 1,50,000 18.75 1,30,000 1:1 1,30,000
TOTAL 15 100.00 8,00,000 100.00 6,90,000

The Board of Directors of the Company at its meeting held on April 21,2018 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE 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 April 24,2018 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 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 Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on April 25,2018, subject to receipt of listing and trading approvals from BSE Limited.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated April 04,2018 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Skyline Financial Services Private Limited at Website: 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 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:

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi-110 020
Tel: +91 -11 - 6473 2681-88; Fax: +91 -11 - 2681 2682
Email: virenr@skylinerta.com; or admin@skylinerta.com;
Website: www.skylinerta.com Contact Person: Mr. Virendra Rana
SEBI Registration No.: INR00003241

Place: Delhi

Date: April 23,2018

For Garv Industries Limited
On behalf of the Board of Directors
Sd/-
Managing Director

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 GARV INDUSTRIES LIMITED.

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