|Basis of Allotment|
(This is only an advertisement for Information purpose and not a Prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribution, directly or indirectly outside India)
|GENSOL ENGINEERING LIMITED|
Our Company was originally incorporated as Gensol Engineering Private Limited at Chandigarh as a Private Limited company under the provisions of Companies Act, 1956 vide Certificate of Incorporation dated September 25, 2012. bearing Corporate identification Number U74210CH2012PTC034105. issued by the Registrar of Companies, Punjab and Chandigarh Subsequently, or Company was converted into Public Limited Company pursuant to a special resolution passed by members in Extra-Ordinary General Meeting of Company held on February 08, 2019 and the name of our company was changed to Gensol Engineering Limited vide a fresh Certificate of Incorporation dated February 26, 2019, issued by the Registrar of Companies, Punjab and Chandigarh. The Corporate Identification Number of our Company is U74210CH2012PLC034105. For details of Incorporation, Change of Name and Registered Office of our Company, please refer to chapter titled Our Business' and 'Our History and Certain Other Corporate Matters' beginning on page 97 and 114 of the Prospectus
|Registered Office: SCO: 156-157, Sector 9C, Madhya Marg, Chandigarh -160031, India Tel. No: 0172 - 4140004; Corporate Office: A-2,12th Floor, Palladium Building, Opp. Vodafone House Corporate Road, Prahladragar, Ahmedabad - 380015, Gujarat, India. Tel. No : 079-40068236|
|E-mail: email@example.com; Website: www.gensolsolar.com Corporate Identification Number: U74210CH2012PLC034105 Contact Person: Rajesh Parmar, Company Secretary and Compliance officer|
|PROMOTERS OF OUR COMPANY : ANMOL SINGH JAGGI AND PUNEET SINGH JAGGI|
|BASIS OF ALLOTMENT|
INITIAL PUBLIC OFFER OF 21.60.000 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF GENSOL ENGINEERING LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs 83 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 73 PER EQUITY SHARE) AGGREGATING UPTO Rs 1.792.80 LAKHS (THE "ISSUE"). THE ISSUE INCLUDES A RESERVATION OF UPTO 1,08,800 EQUITY SHARES OF FACE VALUE Rs 10/- EACH AT A PRICE OF Rs 83 PER EQUITY SHARE AGGREGATING Rs 190.30 LAKHS FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF UPTO 20,51,200 EQUITY SHARES OF FACE VALUE OF Rs 10/- EACH FOR CASH AT A PRICE OF Rs 83/- PER EQUITY SHARE. AGGREGATING Rs 1,702.50 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.33% AND 25.01% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") the Issue has been made for at least 25% of the post- issue paid-up Equity Share capital of our Company. The Issue was made through the Book Building Process, in compliance with Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. 2018, as amended the ("SEBI ICDR Regulations") wherein no reservation was made for Qualified Institutional Buyers ("QIBs"). Further, 50% of the Net Issue was available for allocation on a proportionate basis to Non-institutional Investors and 50% of the Net Issue was available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. For further details please refer the section titled 'Issue Information' beginning on page 179 of the Prospectus. In terms of SEBI Circular No. CIR/CFD/POLICYCELL/11/2015 dated November 10, 2015 and the SEBI (Issue of Capita! and Disclosure Requirements) Regulations, 2018, all the investor's (except Anchor Investors) applying in a public Issue were required to use only Application Supported by Blocked Amount (ASBA) process for applicator providing details of the bank account which will be blocked by the Self Certified Syndicate Banks (SCSBs) for the same. Further, pursuant to SEBI Circular- No. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 01, 2018, Retail Individual Investors applying in public issue were required to use either Application Supported by Blocked Amount (ASBA) facility for making application or also can use UPI (Unified Payment Interface) as a payment mechanism with Application Supported by Blocked Amount for making application. For details in this regards, specific attention are invited to the chapter titled "Issue Procedure" beginning on page 187 of the Prospectus.
RISKS TO INVESTORS :
I. This being the first public issue of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs 10 each. The Issue Price as stated in "Basis for Issue Price" on page 73 of Prospectus should not betaken to be indicative of the market price of the Equity Shares after the Equity Shares are listed on SME Platform of BSE Limited. No assurance can be given regarding an active or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
II. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Anmol Singh Jaggi is Rs 0.02 and Puneet Singh Jaggi is Rs 0.02.
|THE FACE VALUE OF EQUITY SHARES IS Rs 10/- EACH.|
|THE ISSUE PRICE IS Rs 83.00/- PER EQUITY SHARES|
|BID/ISSUE OPENED ON: MONDAY, SEPTEMBER 30, 2019 AND|
|CLOSED ON: FRIDAY, OCTOBER 04, 2019|
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 IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In - Principle approval letter dated September 19, 2019 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 Issue, BSE Limited shall be the Designated Stock Exchange.
The Issue has received 292 applications for 27,13,600 Equity shares (before rejections, before bids not banked but after Invalid Multiple/Duplicate bids) including Market Maker Application of 1,08,800 Equity Shares. The issue was subscribed to the extent of 1.2563 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 1.2089 times.
The details of application received (Before Technical Rejection but after bids not banked and application banked but bid not registered)
|S.N.||Category||Number of Applications Received||Number of Shares applied for||Amount (Rs.)|
|1||Retail Individual Investors||227||3,63,200||3,01,04,000.00|
|2||Non Institutional Investors||47||21,80,800||181,006,400.00|
|PRICE||SHARES||% OF TOTAL||CUMULATIVE TOTAL||CUMULATIVE % OF TOTAL|
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on October 10, 2019
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 83.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1,08,800 Equity shares in full out of reserved portion of 1,08,800 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. 83.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.32 times. Total number of shares allotted in this category is 3,24,800* Equity Shares. The category wise basis of allotment is as under:
|Sr. No.||No. of Shares Applied for (Category wise)||No. of Applications received||% to total||Total No. of Equity Shares applied||%to total||Proportionate Shares Available||Allocation per Applicant||Ratio of Allottees to the Applicants||Number of successful applicants (after rounding off)||%of Total||Total No. of Equity Shares Allotted||% of Total||Surplus / (Deficit)|
|Before rounding off||After rounding off|
C. Allocation to Non Institutional Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs. 83.00/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.26 times. Total number of shares allotted in this category is 17,26,400* Equity Shares. The category wise basis of allotment is as under:
|Sr. No.||No. of Shares Applied for (Category wise)||No. Of Applications received||% to total||Total No. of Equity Shares applied||% to total||Proportionate Shares Available||Allocation per Applicant||Ratio of Allottees to the Applicants||Number of successful applicants (after rounding oft)||% of Total||Total No. of Equity Shares Allotted||% of Total||Surplus/ (Deficit)|
|Before rounding off||After rounding off|
|3200||1600 additional share is allocated for Serial no 1 in the ratio of 7:12||1600.00||7||12||0.00||11200||0.65||11200|
|4800||1600 additional share is allocated for Serial no 2 in the ratio of 3:8||1600.00||3||8||0.00||4800||0.28||4800|
|12800||1600 additional share is allocated for Serial no 6 in the ratio of 2:5||1600.00||2||5||0.00||3200||0.19||3200|
|17600||1600 additional share is allocated for Serial no 9 in the ratio of 1:2||1600.00||1||2||0.00||1600||0.09||1600|
|59200||1600 additional share is a located for Serial no 14 in the ratio of 1:2||1600.00||1||2||0.00||1600||0.09||1600|
*the under subscription of 7,00,800 Equity Shares in the retail individual investors category has been spilled over to non-institutional investors category.
Please Note: Additional lot of 1600 shares given in applied shares category 3200, 4800, 12,800, 17,600, 59,200 after proportionate allocation.
The Board of Directors of the Company at its meeting held on October 10, 2019 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 October 14, 2019. Further, the instructions to SCSBs has been issued on October 10, 2019 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 BSE Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before October 15, 2019 subject to receipt of listing and trading approvals from BSE Limited.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue at www.linkintime.co.in. 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:
|LINK INTIME INDIA PRIVATE LIMITED|
|C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400 083, Maharashtra, India|
|Tel: +91 2249186200; Fax: +91 2249186195;|
|Email: firstname.lastname@example.org Website: www.linkintime.co.in;|
|Investor Grievance Id: email@example.com|
|Contact Person: Shanti Gopalkrishnan; SEBI Registration Number: INR000004058|
|For Gensol Engineering Limited|
|On behalf of the Board of Directors|
|Date: October 11, 2019||Anmol Singh Jaggi|
|Place: Ahmedabad||Chairman and 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 GENSOL ENGINEERING LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.