Basis of Allotment

(This is only an advertisement for information purpose and not a Prospectus announcement.)

VEERAM INFRA ENGINEERING LIMITED

Corporate Identification Number: U70100GJ1994PLC021483

Our Company was originally incorporated as Vivid Offset Printers Private Limited on March 4,1994 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, the name of company was changed to "Veeram Infra Engineering Private Limited" on January 10, 2018 under the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Thereafter, Our Company ms converted in to a public company and consequently name was changed to "Veeram Infra Engineering Limited" (VIEL) vide fresh certificate of incorporation dated January 29, 2018 issued by Registrar of Companies. Gujarat. Dadra and Nagar Havelli. For details of the changes in our name and registered office, please refer to the chapter titled 'History and Certain Corporate Matters' beginning on page no. 93 of this Prospectus.

Registered Office: Basement Medicare Centre. Behind M. J. Library. Opp. Stock Exchange Ellisbridge. Ahmedabad - 380006, Gujarat. India
Tel. No.: +91 79 4892 1375 | Email: complianceviel@gmail.com | Website: www.veeraminfra.com
Contact Person: Ms. Dhwani G. Rana, Company Secretary & Compliance Officer
PROMOTER OF THE COMPANY: MR. SATISHKUMAR R. GAJJAR & MRS. GEETABEN S. GAJJAR
BASIS OF ALLOTMENT

PUBLIC ISSUE OF 21,06,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF VEERAM INFRA ENGINEERING LIMITED ("OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE RS. 51 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 41 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS. 1,074.06 LAKHS ("THE ISSUE"). OF WHICH 1,10,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR A CASH PRICE OF RS. 51 PER EQUITY SHARE. AGGREGATING TO RS. 56.10 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 19,96,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH AT AN ISSUE PRICE OF RS. 51 PER EQUITY SHARE AGGREGATING TO RS. 1017.96 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.47% AND 25.09%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

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.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10.00 EACH AND
THE ISSUE PRICE OF RS. 51.00 IS 5.1 TIMES OF THE FACE VALUE.
ISSUE OPENED ON FRIDAY; SEPTEMBER 28, 2018 AND CLOSED ON FRIDAY; OCTOBER 12, 2018
PROPOSED LISTING: TUESDAY; OCTOBER 23, 2018

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE"). In terms of the Chapter X-B of the SEBI (ICDR) Regulations, 2009, as amended from time to time, our Company has received an approval letter dated September 05, 2018 from BSE Limited (the 'BSE') for using its name in the offer document for listing of our shares on the SME Platform of BSE. For the purpose of the Issue, the designated Stock Exchange will be SME Platform of the BSE.

All Applicants were allowed to participate in the issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").

SUBSCRIPTION DETAILS

The issue has received 396 applications for 22,96,000 Equity Shares resulting in 1.0902 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection):

Category Number of Application(s) % to Total Number of Equity Shares % to Total Subscription (Times)
Market Makers 1 0.25 1,10,000 4.79 1.0000
Other than Retail Individual Investors 24 6.06 14,44,000 62.89 1.4469
Retail Individual Investors 371 93.69 7,42,000 32.32 0.7435
Total 396 100.00 22,96,000 100.00 1.0902

The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:

Category No. of Applications No. of Equity Shares
Market Makers 0 0
Retail Individual Investors 1 2,000
Other than Retail Individual Investors 0 0
TOTAL 1 2,000

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Category Number of Applications % to Total Issue Size (as per Prospectus) Proportionate Issue Size (After rounding off) No. of Valid Shares applied % of Total Applied Subscription (Times) Revised Subscription (Times)'
Market Maker 1 0.25 1,10,000 1,10,000 1,10,000 4.80 1.0000 1.0000
Other than Retail Individual Investor's 24 6.08 9,98,000 12,56,000 14,44,000 62.95 1.4469 1.1497
Retail Individual Investor s 370 93.67 9,98,000 7,40,000* 7,40,000* 32.26 0.7415 1.0000
Total 395 100.00 21,06,000 21,06,000 22,94,000 100.00 1.0893 1.0893

* unsubscribed portion of 2,58,000 equity shares spilled over to Other than Retail Individual Investor category.

Allocation: The Basis of Allotment ms finalized in consultation with the Designated Stock Exchange - BSE Limited on October 17, 2018.
A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 51 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,10,000 Equity shares.

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 Equity Shares applied in this Category % of total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees to Applicant: Ratio 2 Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
1,10,000 1 100 1,10,000 100 1,10,000 1,10,000 1,10,000 1:1 - 1 1,10,000 0
 
B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 51 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.741483 times i.e. for 7,40,000 Equity Shares. Total number of shares allotted in this category is 7,40,000 Equity Shares to 370 successful applicants.

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 Equity Shares applied in this Category % of total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees to Applicant: Ratio 2 Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
2,000 370 100.00 7,40,000 100.00 9,98,000 2,000 2,000 1 1 370 7,40,000* (2,58,000)

* unsubscribed portion of 2,58,000 equity shares spilled over to Other than Retail Individual Investor category.

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs. 51 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.149682 times i.e. for 14,44,000 shares. The total number of shares allotted in this category is 12,56,000 Equity Shares to 24 successful applicants.

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 Equity Shares applied in this Category % of total Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to Applicant: Ratio 1 Ratio of Allottees to Applicant: Ratio 2 Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
18,000 1 4.17 18,000 1.25 15,657 15,656.51 16,000 1 1 1 16,000 (343.49)
20,000 1 4.17 20,000 1.39 17,396 17,396.12 18,000 1 1 1 18,000 (603.88)
30,000 1 4.17 30,000 2.08 26,094 26,094.18 26,000 1 1 1 26,000 94.18
40,000 11 45.83 4,40,000 30.47 3,82,715 34,792.24 34,000 1 1 11 3,74,000 8,714.68
              2,000 4 11 4 8,000 (8,000.00)
48,000 1 4.17 48,000 3.32 41,751 41,750.69 42,000 1 1 1 42,000 (249.31)
50,000 4 16.67 2,00,000 13.85 1,73,961 43,490.30 42,000 1 1 4 1,68,000 5,961.22
              2,000 3 4 3 6,000 (6,000.00)
96,000 1 4.17 96,000 6.65 83,501 83,501.39 84,000 1 1 1 84,000 (498.61)
1,00,000 2 8.33 2,00,000 13.85 1,73,961 86,980.61 86,000 1 1 2 1,72,000 1,961.22
              2,000 1 2 1 2,000 (2,000 00)
1,96,000 2 8.33 3,92,000 27.15 3,40,964 1,70,481.99 1,70,000 1 1 2 3,40,000 963.99
TOTAL 24 100.00 14,44,000 100.00 12,56,000         24 12,56,000 0

The Board of Directors of the Company at its meeting held on October 17, 2018 has approved the Basis of Allotment of Equity Shares as approved by the Designated Stock Exchange, i.e., BSE at its meeting held on October 17, 2018 and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before October 19, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or before October 19, 2018. In case the same is not received within 10 days, investors may contact 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 the SME Platform of BSE Limited within six working days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 22, 2018 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer. Karvy Computershare Pvt. Ltd. at www.karisma.karvy.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:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32. Gachibowli. Finacial District. Nanakramguda. Hyderabad-500032, Telangana. India.
Tel. No.: +91 40 - 6716 2222 | Fax No.: +91 402343 1551 | Website: www.karisma.karvy.com
Email: einward.ris@karvy.com | Investor Grievance Email: veeraminfra.ipo@karvy.com
Contact Person: Mr. M. Murali Krishna | SEBI Regn. No.: INR000000221 For Veeram Infra Engineering Limited
On behalf of the Board of Directors
Sd/-
Place: Ahmedabad Mr. Satishkumar R. Gajjar
Date: 19.10.2018 Managing Director

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 VEERAM INFRA ENGINEERING LIMITED.

Close