|Basis of Allotment|
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prospectus announcement and does not constitute an invitation or offer to acquire,
purchase or subscribe for securities and not for publication or distribution, directly or
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GANGA PHARMACEUTICALS LIMITED
Our Company was originally incorporated in Mumbai as 'Ganga Pharmaceuticals Private Limited' on 11th September. 1989 under the provisions of the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies. Mumbai (the "RoC"). our Company was converted in to a Public Limited Company and consequently the name was changed to "Ganga Pharmaceuticals Limited" wide fresh certificate of incorporation dated 19th September; 1994 issued by thcRoc. Mumbai.
Registered Office: 1 - A, 802, N.G. Suncity Ph II. Kandivali East
Mumbai 400101 ,Maharashrtra, India;
PUBLIC ISSUE OF 10,24,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH ("EQUITY SHARES") OF GANGA PHARMACEUTICALS LIMITED (" OUR COMPANY" OR "THE ISSURE") FOR CASH AT A PRICE RS.15/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS .5,- PER EQUITY SHARE) (" ISSUE PRICE"} AGGREGATING TO RS.153.60 LAKHS (IS HEREINAFTER REFERRED TO AS THE "ISSUE" OR "NET ISSUE"}. THE ISSUE CONSTITUTES 25.21% OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE 'SEBI REGULATIONS"). THE ISSUE OF 10,24,000 EQUITY SHARES, NET LESS THAN 50% SHALL BE AVAILABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVE STORS AND OTHER INVETORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORTIONATE BASIS, TH EY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE, THE FACE VALUE OF OUR EQUITY SHARES IS RS. 10/-EACH. THE ISSUE PRICE OF EQUITY SHARES IS RS.15/- EACH AND THE ISSUE PRICE IS 1.5 TIMES OF THE FACE VALUE.
ISSUE OPENED ON JANUARY 29, 2016 AND CLOSED ON FEBRUARY11,2016.
The Equity Shares or the Company are proposed to be listed onthe SME Platform of BSE Limited ("BSE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended trom time to time, we are not required to obtain an in-principle listing approval from SEBI. However, our Company has received an approval via letter dated November 09, 2015 from BSE for using its name-in offer document for listing of our shares on the SME Platform of BSE. BSE shall be the Designated Slock Exchange for the purpose of this issue. The trading is proposed to be commenced on or belore February 22,2016*
* Subject to receipt of listing and trading approvals from the BSE Limited.
This being a Fixed Price Issue, 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 Offer of shares to the Public shall initially be made available for allotment to Retail individual investors. The balance 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. The unsubscribed portion of the Net issue to any one of the categories specified above shall/may be made available for allocation to Applicants in the other category, if so required. All Applicants were allowed to 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").
The Net issue has received 80 applications for 1,184,000 Equity Shares resulting in 1.1563 times subscription. The details of the applications received in the Net Issue (before and alter technical rejections) are as fallows:
Note: The Issue also does not include 56,000 Equity Shares reserved for Market Maker, which was done away with as mentioned in the corrigendum dated 10th February, 2016. Further, 8,000 Equity Shares were withdrawn and 8,000 Equity Shares rejected due Technical Rejection.
In the event of over subscription, the allotment will be made on a proportionate basis in marketable lots. There was no over subscription in Retail Category & over Subscription 80,000 Equity Shares in Non - Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Ltd on February 16,2016.
A) Allocation to Marker Maker (After Technical Rejections): The Basis of Allotment to the Market Market; at the issue price of Rs. 15/- per Equity Share, was finalised in consultation with BSE. However, the Market Making reservation portion was been done away with and hence thene was no reservation for the Market Maker vide our corrigendum dated February 10,2016, Hence, the Net Issue was 10,24,000 Equity Shares, Out of the this, 5,12,000 equity shares was available for allocation, for investor subscribing for a value of Rs. 2 Lakhs to Retail Investors and balance 5,12,000 equity shares shall be available for investor's applying for a value above Rs. 2 Lakhs to Non-Retails investors. Accordingly, application of the Market Marker for 56,000 equity shares received was not considered for allocation.
B) Allocation to Retail Individual Inivestars (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors at the issue price of Rs. 15/- per Equity Share, was finalised in consultation with BSE. The total number of shares allocated in this category is 5,12,000 Equity Shares. The category was subscribed by 1.00 times, The category-wise details of the Basis of Allotment are as under;
C) Allocation to Non - Retail Category (After Technical Rejections): The Basis of Allotment to the Non - Retail Investors, at the issue price Of Rs. 15/- per Equity Share, was finalised in consultation with BSE. The total number of shares allocated in this category is 5,12,000 Equity Shares. The category was subscribed by 1.156 times. The category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at its meeting held on February 17,2016 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE and has authorised 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 Applicants as registered with the depositories. Further, the instructions to SCSBs have been issued on February 17,2015 For unblocking of funds. The Equity Shares allocated to successful applicant 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 within Six working days from the date of closure of the Issue. The trading is proposed to commence on or belore February 22,2016 subject to receipt of listing and trading approval strom BSE.
INVESTORS PLEASE NOTE
The details of the allotment made has been hosted on the website Of the Registrar to the Issue, Karvy ComputerShare Private Limited at Website: wivw.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 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:
KARVY COMPUTERSHARE PRIVATE LIMITED
LEVEL Of SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE
MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTUS OF GANGA