|Basis of Allotment|
is only an advertisement for information purposes and not a prospectus announcement)
ARIHANT INSTITUTE LIMITED
Our Company was incorporated as Arihant Institute Private Limited on 30th March. 2007 under the provisions of Companies Act. 1956 with Registrar of Companies, Gujarat. Dadra and Nagar Havelli vide registration no. (ClN: U80301GJ2007PTC050413). Pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting held on 22nd January, 2019 our Company was converted into a Public Limited Company and the name of our Company was changed to Arihant institute Limited vide a fresh Certificate of Incorporation dated 01st February, 2018, issued by the Registrar of Companies. Ahmedabad. Gujarat. CIN:U80301GJ2007PLC050413. For further details about the Company, please refer section titled "History and Certain Corporate Matters" on page 153 of the Prospectus.
Registered Office: 2, Navinpark Society. Nr. Muncipal
School No. 4. Nr. Sardar Patel Colony Road, Naranpura, Ahmedabad - 380 013, Gujarat, India
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 25,00,000 EQUITV SHARES OF FACE VALUE OF RS 10 EACH OF ARIHANT
INSTITUTE LIMITED ("OUR COMPANY") OR "THE ISSUER") FOR CASH AT A PRICE
OF RS 30 PER EQUITY SHAHE ("ISSUE PRICE") AGGREGATING TO 750 LAKHS ("THE
ISSUE"), OF WHICH 1,32,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FOR A CASH PRICE
OF RS 30 PER EQUITY SHARE, AGGREGATING TO RS 39.60 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 23,68,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH
AT AN ISSUE PRICE OF RS 30 PER EQUITY SHARE AGGREGATING TO RS 710.40 LAKHS (IS HEREINAFTER
REFERRED TO AS THE "NET ISSUE) THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 25.58% AND
25.18%. 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
255 OF THE PROSPECTUS.
THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND
THE ISSUE PRICE IS RS 30.
PROPOSED LISTING: JUNE 05, 2018
The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of BSE ("BSE SME Platform"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, we are required to obtain an in-principle listing approval for the shares being offered in this issue. However, our Company has received an in-principle approval letter dated March 13, 2018 from BSE for using its name in this offer document for listing of our shares on the SME Platform of BSE. For the purpose of this Issue, the Designated Stock Exchange will be the BSE, The Trading is proposed to be commenced from Tuesday, June 05, 2018. subject to receipt of listing and trading approvals from the Bombay Stock Exchange.
All Applicants were allowed to participate in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") processby providing me details of their respective bank accounts in which the corresponding application amounts were blocked by Sell Certified Syndicate Banks (the "SCSBs")
The issue has received 1,074 applications for 50,04,000 equity shares resulting in 2.00
times subscription (including reserved portion of Market maker).
The details of applications rejected by the Registrar on technical grounds (including withdrawal) 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 -Bombay Stock Exchange on May 31,2018.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 30 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,32,000 Equity Shares. The Category-wise details of the Basis of Allotment are as under:
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 30 per Equity Share, was finalised In consultation with BSE. The category was subscribed by 2.04 times. The total number of shares allotted In this category is 20,68,000 Equity Shares to 517 successful applicants.
The Category-wise details of the Basis of Allotment are as under:
C. Allocation to Other than Retail Individual Investors (After Technical
Rejections & Withdrawal): The Basis of Allotment to the Non Institutional
Investors, at the issue price of Rs 30 per Equity Share, was finalized in
consultation with BSE. The category was 2.07 timessubscribed. The total number of shares
allotted in this category is 3,00,000.
The Board of Directors of the Company at its meeting held on May 31,2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited 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 May 31, 2018, Further; the instructions to Sell Certified Syndicate Banks, for unblocking the amount are being processed on or prior to May 31, 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 beneficiary 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 BSE SME Platform within six wortdng days from the date of the closure of the issue.
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated May 16 , 2018 ("Prospectus').
INVESTORS PLEASE NOTE
The details of the allotment made would be also be hosted on the website of the Registrar to the issue, KARVY COMPUTERSHARE PRIVATE LIMITED at www.karisma.karvy.com. All Future correspondence in this regard may kindly be addressed to the Registrar to the issue quoting full name at the First/Sole applicants, serial number of me 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:
KARVY COMPUTERSHARE PRIVATE LIMITED
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 ARIHANT INSTITUTE LIMITED.