|Basis of Allotment|
(This 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 Not for publication or distribution, directly or indirectly outside India.)
AKSHAR SPINTEX LIMITED
Our Company was originally incorporated as 'Akshar Spintex Private Limited' at Jamnagar, Gujarat as a Private Limited Company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated June 19, 2013 bearing Corporate Identification Number U17291GJ2013PTC075677 issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently our Company was converted into a Public limited company pursuant to Special Resolution passed by the members in Extraordinary General Meeting held on December 26,2017and the name of our Company was changed to "Akshar Spintex Limited" vide a Fresh Certificate of Incorporation dated January 5,2018, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. The Corporate Identification number of our Company is U17291GJ2013PLC075677. For details of Incorporation and other details of our company, please refer to chapter titled "General Information" and "Our History and Certain Other Corporate Matters" beginning on pages 69 and 155 of the Prospectus.
Registered Office: Revenue Survey No. 102/2, Paiki,
Plot No. 2, Village - Haripar, Ranuja Road, Tal - Kalavad, Jamnagar - 361013, Gujarat,
PROMOTERS OF OUR COMPANY: ASHOK BHALALA, AMIT GADHIYA, HARIKRISHNA CHAUHAN AND REKHABEN CHAUHAN
SELLING SHAREHOLDERS: ASHOKBHAI BHALALA, CHARMEE GADHIYA, NAYAN GADHIYA, POOJA GADHIYA, PARESHBHAI BHALALA, PRAVINBHAI BHALALA, NIPABEN SORATHIYA, SONAL SORATHIYA, REKHABEN CHAUHAN, ASHOK BHALALA - HUF, CHETANA BHALALA, PARESHBHAI BHALALA - HUF, SUKANBHAI BHALALA - HUF, PRAVINBHAI BHALALA - HUF, KANTABEN GADHIYA, NARMADABEN CHAUHAN, PARESHBHAI JETHVA, PRAVINABEN GOHIL, PRAKASHKUMAR SORATHIA, MANUBHAI GAREJA
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFER OF 67,47,000 EQUITY SHARES OF FACE VALUE OF Rs.10/- EACH ("EQUITY SHARES") OF AKSHAR SPINTEX LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs.40/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 30/- PER EQUITY SHARE) AGGREGATING TO RS. 2698.80 LAKHS ("OFFER") COMPRISING A FRESH ISSUE OF 9,99,000 EQUITY SHARES AGGREGATING TO RS. 399.60 LAKHS BY THE COMPANY ("FRESH ISSUE") AND AN OFFER FOR SALE OF 57,48,000 EQUITY SHARES BY SELLING SHAREHOLDERS ("OFFER FOR SALE") AGGREGATING TO RS. 2299.20 LAKHS AND TOGETHER WITH THE FRESH ISSUE (THE OFFER") OF WHICH 3,45,000 EQUITY SHARES OF FACE VALUE RS. 10/- EACH FOR CASH AT A PRICE OF RS. 40/- PER EQUITY SHARE, AGGREGATING RS. 138.00 LAKHS WERE RESERVED FOR SUBSCRIPTIONS BY THE MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE OFFER LESS MARKET MAKER RESERVATION PORTION I.E. NET OFFER OF 64,02,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 40/- PER EQUITY SHARE, AGGREGATING RS. 2560.80 LAKHS IS HEREINAFTER REFERED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER CONSTITUTE 26.99 % AND 25.61 % RESPECTIVELY OF THE FULLY DILUTED POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
Risks to Investors:
I. As on date of the Prospectus, the average cost of acquisition per Equity Share by
our Promoters viz. Ashok Bhalala, Amit Gadhiya, Harikrishna Chauhan and Rekhaben Chauhan
THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
The Equity Shares of our Company issued 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 In - Principle approval letter dated April 19,2018 from BSE Limited for using its name in the Offer document for listing of our shares on the SME Platform of BSE Limited. For the purpose of this offer, SME Platform of the BSE Limited shall be the Designated Stock Exchange.
The Offer has received 10,011 applications for 3,51,36,000 Equity shares (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids) including Market Maker Application of 3,45,000 Equity Shares. The issue was subscribed to the extent of 5.21 times as per the application data (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids). After considering the technical rejections cases, the issue was subscribed 4.85 times. The details of application received (Before Technical Rejection but after bids not banked and application banked but bid not registered)
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 - SME Platform of the BSE Limited on May 08,2018.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 40/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 3,45,000 Equity shares in full out of reserved portion of 3,45,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 40/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 8.86 times. Total number of shares allotted in this category is 56,16,000 Equity Shares. The category wise basis of allotment is as under:
C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 40/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.24 times. Total number of shares allotted in this category is 7.86.000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on May 09,2018 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited 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 May 11,2018. Further, the instructions to SCSBs shall be issued on May 09,2018 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 the BSE Limited within six working days from the date of the closure of the Offer. The trading is proposed to commence on or before May 11,2018 subject to receipt of listing and trading approvals from BSE Ltd.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Offer at www.bigshareonline.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:
BIGSHARE SERVICES PRIVATE LIMITED
1 st floor, Bharat Tin works Building, Opp. Vasant Oasis, Makwana Road, Marol,Andheri
(East), Mumbai - 400059, Maharashtra, India
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 AKSHAR SPINTEX