|Basis of Allotment|
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROPSECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. THIS PUBLIC ANNOUNCEMENT IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION OIRECTLY OR INDIRECTLY OUTSIDE INDIA.
|WHERRELZ IT SOLUTIONS LIMITED|
Our Company was originally incorporated as Private Limited Company in the name of "Wherrelz IT Solutions Private Limited" under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated December 19, 2014 bearing Corporate Identification Number U74999MH2014PTC260236 issued by the Assistant Registrar of Companies, Maharashtra. Subsequently, our Company was converted into a Public Limited Company pursuant to the special resolution passed by the shareholders at the Extra-Ordinary General Meeting of our Company held on June 05, 2021 and consequent upon conversion the name of our Company was change to Wherrelz IT Solutions Limited vide a fresh certificate of incorporation dated July 12, 2021 bearing Corporate Identification Number U74999MH2014PLC260236 was issued by the Registrar of Companies, Mumbai. For further details, please refer to the chapter titled "History and Certain Corporate Matters" beginning on page no. 99 of the Prospectus.
|Registered office: Plot No. 15. Road 10. Sec -1. New Panvel East, Navi Mumbai, Raigarh - 410 206|
|Tel No.: +91 9811221082 Email: email@example.com Website: www.wherrelz.in|
|Contact Person: Mrs. Adti Bagul, Company Secretary and Compliance Officer|
|Our Promoters: Mr. Chaitanya Dhareshwar and Mrs. Sumanlata Dhareshwar|
|BASIS OF ALLOTMENT|
PUBLIC ISSUE OF 1,17,600 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF WHERRELZ IT SOLUTIONS LIMITED ('WITS" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 171/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 161/- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING TO RS. 201.10/- LAKHS ("THE ISSUE"), OF WHICH 7200 EQUITY SHARES OFFACE VALUE OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 171/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.161/- PER EQUITY SHARE AGGREGATING TO RS. 12.31 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 1,10,400 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A CASH PRICE OF RS. 171/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 161/- PER EQUITY SHARE AGGREGATING TO RS. 188.78 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.18 % ANO 28.34%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO CHAPTER TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE NO 195 OF THE PROSPECTUS.
|THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 AND|
|THE ISSUE PRICE IS 17.1 TIMES OF THE FACE VALUE.|
|ISSUE OPENED ON: DECEMBER 16, 2021 AND|
|ISSUE CLOSED ON: DECEMBER 21, 2021|
The Equity Shares of the Company offered through Prospectus dated December 10, 2021 are proposed to be listed on the BSE Startup segment under SME Platform of BSE Limited, 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 from BSE for the listing of the Equity Shares pursuant to letter dated November 16, 2021. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on December 29, 2021. (Subject to receipt of listing and trading approvals from the BSE).
The Issue is being made under Chapter IX of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 through a Fixed Price Process. Wherein a minimum 50% of the Net Issue is allocated for Retail Individual Applicants and the balance shall be offered to individual applicants other than Retail Individual Applicants and other investors including Corporate Bodies or Institutions, QIBs and Non-Institutional Applicants. However, if the aggregate demand from the Retail Individual Applicants is less than 50%, then the balance Equity Shares in that portion will be added to the non-retail portion offered to the remaining investors including QIBs and NIIs and vice-versa subject to valid Applications being received from them at or above the Issue Price.
Additionally, if the Retail Individual Applicants category is entitled to more than fifty per cent on proportionate basis, the Retail Individual Applicants shall be allocated that higher percentage. However, the Application by an Applicant should not exceed the investment limits prescribed under the relevant regulations/statutory guidelines. Subject to the valid Applications being received at the Issue Price, allocation to all categories in the Net Issue, shall be made on a proportionate basis, except for the Retail Portion where Allotment to each Retail Individual Applicants shall not be less than the minimum lot, subject to availability of Equity Shares in Retail Portion, and the remaining available Equity Shares, if any, shall be allotted on a proportionate basis. Under subscription if any, in any category, except in the QIB Portion, would be allowed to be met with spill over from any other category or a combination of categories at the discretion of our Company in consultation with the LM and the Stock Exchange are required to submit their Applications to the Application Collecting Intermediaries i.e. SCSB or Registered Brokers of Stock Exchanges or Registrar to the Issue and Share Transfer Agents (RTAs) or Depository Participants (DPs) registered with SEBI. In case of QIB Applicants, the Company in consultation with the Lead Manager may reject Applications at the time of acceptance of Application Form provided that the reasons for such rejection shall be provided to such Applicant in writing In case of Non-Institutional Applicants and Retail Individual Applicants, the Company would have a right to reject the Applications only on technical grounds. In case DP ID, Client ID and PAN mentioned in the Application Form and entered into the electronic system of the stock exchange, do not match with the DP ID. Client ID and PAN available in the depository database, the application is liable to be rejected. All potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of the irrespective bank accounts and / or UPI IDs, in case of RIIs, if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same.
The Issue has received 210 applications for 2,48,800 Equity Shares (before technical rejections. Invalid Bids Multiple-Duplicate and Bids not banked) including Market Maker's Application of 7,200 Equity Shares. The Issue was subscribed to the extent of 2.12 times as per the bid book received from BSE. After considering invalid bids, bid not banked and technical rejection cases from the Bid book, the Issue was subscribed 1.72 times including the Market Maker reservation portion. The details of the applications received in the Issue (before technical rejections but after invalid bids, multiple/ duplicate and Bids not banked) are as follows:
Detail of the Applications Received:
|Category||No. of Applications||% of Total||No. of Equity Shares Applied||% of Total|
|Retail Individual Applicants||146||91.82||1,16,800||56.15|
|Other than Retail Individual Applicants||12||7.55||84,000||40.38|
Summary of Valid Applications:
|No. of Applications||Equity Shares Applied||No. of Applications||Equity Shares||No. of Applications||Equity Shares|
|Retail Individual Applicants||146||1,16,800||5||4,000||141||1,12,800|
|Other than Retail Individual Applicants||12||84,000||1||1,600||11||82,400|
The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE on December 24, 2021.
A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 171 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 7,200 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 Shares Applied in Each Category||% to Total||Proportionate Equity Shares Available for allocation||Allocation per Applicant (before rounding off)||Allocation per Applicant (after rounding off)||Ratio of Allottees to the Applicant||Total No. of Shares Allotted||%to Total||No. of Equity Shares Surplus./ Deficit|
B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs.171 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 64,000 Equity Shares. The category was subscribed by 1.7625 times. 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 Shares Applied in Each Category||%to
|Proportionate Equity Shares Available for allocation||Allocation per Applicant (before rounding off)||Allocation per Applicant (after rounding off)||Ratio of Allottees to the Applicant||Total No. of Shares Allotted||%to Total||No. of Equity Shares Surplus/ Deficit|
C) Allocation to Other than Retails Category (Alter Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs.171 per Equity Share, was finalised in consultation with BSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 46,400 Equity Shares. The category was subscribed by 1.78 times. 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 Shares Applied in Each Category||%to Total||Proportionate Equity Shares Available for allocation||Allocation per Applicant (before rounding off)||Allocation per Applicant (after rounding off)||Ratio of Allottees to the Applicant||Total No. of Shares Allotted||% to Total||No. of Equity Shares Surplus/ Deficit|
The Board of Directors of the Company at its meeting held on December 24, 2021, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants. The CAN-cum Refund order and allotment advice and / or notices shall be dispatched to the address of the investors as registered with the depositories on or before December 27, 2021. Further, the instructions to Self Certified Syndicate Banks has been processed on December 24, 2021 for unblocking of funds. In case the same is not received within Four (4) days, investors may contact at the address given below. The Equity Shares allotted 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 BSE Startup segment under SME Platform of BSE Limited within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on December 29, 2021 subject to receipt of listing and trading approvals from BSE.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated December 10, 2021 ("Prospectus").
INVESTORS PLEASE NOTE
The details of the allotment made has been hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at Website: www.bigshareonline.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:
|BIGSHARE SERVICES PRIVATE LIMITED|
|1st Floor, Bharat Tin Works Building, Opp Vasant Oasis., Makwana Road, Marol, Andheri East, Mumbai - 400 059|
|Tel. No.: +91 22 6263 8200|
|Email: firstname.lastname@example.org Website: www.bigshareonline.com Investor Grievance Email: email@example.com|
|Contact Person: Swapnil Kate|
|SEBI Registration No.: INR000001385|
|For Wherrelz IT SolutionsLimited|
|On behalf of the Board of Directors|
|Date: December 24, 2021||Chaitanya Dhareshwar|
|Place: Navi Mumbai||Managing Director|
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 WHERRELZ IT SOLUTIONS LIMITED.
WHERRELZ IT SOLUTIONS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Mumbai. The Prospectus shall be available on the websites of the Company, the BSE and the Lead Manager at www.wherrelz.in, www.bseindia.com, www.fedsec.in , respectively. Applicants should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the Prospectus, including, the section titled "Risk Factors" beginning on page no. 20 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as defined in Rule 144A under the U.S. Securities Act) pursuant to Rule 144A under the U.S. Securities Act and (ii) outside the United States in offshore transactions in reliance on Regulations under the U.S Securities Act and applicable laws of the jurisdictions where such offers and sales occur.
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Application may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.