| Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT)
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NIDAN LABORATORIES AND HEALTHCARE LIMITED |
| (CIN: U33111IVIH2000PLC129883) |
Our Company was originally incorporated as 'Abhi Diagnostic Imagings Private Limited' on December 05, 2000 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Maharashtra. Subsequently, the name of the company was changed from "Abhi Diagnostic Imagings Private Limited" to "Nidan Laboratories and Healthcare Private Limited" under the Companies Act, 2013 pursuant to a special resolution passed by our shareholders at the EGM held on February 26, 2021 and had obtained fresh certificate of incorporation dated March 24, 2021 issued by the Registrar of Companies, Maharashtra. Subsequently, our Company was converted into a public limited company and the name of our Company was changed to 'Nidan Laboratories and Healthcare Limited' and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the Registrar of Companies, Mumbai, Maharashtra, on May 24, 2021. For details pertaining to the changes of name of our company and change in the registered office, please refer to the chapter titled 'History and Certain Corporate Matters' beginning on page no. 128 of the Prospectus.
| Registered Office: Swapnshilpa, Behind Aarti Apartment, Vartak Road, Virar (West) - 401303, Palagar, Maharashtra, India; |
| Tel. No.: +91 8975610000; Email: cs@nidanhealthcare.co.in : Website: www.nidanhealthcare.co.in : |
| Contact Person: Mr. Akshay Joshi, Company Secretary & Compliance Officer |
| PROMOTER OF THE COMPANY: DR. NITIN VITTHALRAO THORAVE |
PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF NIDAN LABORATORIES AND HEALTHCARE LIMITED ("OUR COMPANY" OR "THE ISSUER COMPANY") FOR CASH AT A PRICE RS. 125/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 115/- PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS. 5000.00 LAKHS ("THE ISSUE"), OUT OF WHICH 2,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR A CASH PRICE OF RS. 125/- PER EQUITY SHARE, AGGREGATING TO RS. 250.00 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 38,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT AN ISSUE PRICE OF RS. 115/- PER EQUITY SHARE AGGREGATING TO RS. 4750.00 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.78% AND 27.34%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFERTO SECTION TITLED "TERMS OFTHE ISSUE" BEGINNING ON PAGE NO. 241 OFTHE PROSPECTUS.
As per Regulation 253(2) of the SEBI (ICDR) Regulations, as amended, as present issue is a fixed price issue 'the Allocation' is the net issue to the public category shall be made as follows:
a. Minimum fifty percent(50%) To Retail Individual Investors; and
b. Remaining to:
(i) Individual applicants other than retail individual investors; and
(ii) Other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for
c. The unsubscribe portion in either of the categories specified in (a) or (b) above may be allotted to the applicants in the other category.
If the retail individual investor category is entitled to more than fifty per cent on proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage.
| THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND |
| THE ISSUE PRICE OF RS. 125 IS 12.5 TIMES OF THE FACE VALUE. |
| ISSUE OPENED ON October 28, 2021 |
| CLOSED ON November 02, 2021 |
The Equity Shares of the Company are proposed to be listed on the EMERGE Platform of National Stock Exchange Limited ("NSE") in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received the In-Principal approval letter dated October 21, 2021 from NSE for using its name in the Offer Document for listing of our shares on the EMERGE Platform of NSE. For the purpose of this Issue, NSE shall be the Designated Stock Exchange. The trading is proposed to be commenced on or about FRIDAY: NOVEMBER 12, 2021 (Subject to the receipt of listing and trading approval from the NSE EMERGE Platform).
All Applicants were allowed to participate in the Issue 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"). Further, for Retail Individual Investors (individual Investors biding for amount upto Rs.2 Lacs) use of UPI Id in Application Form is mandatory while applying for equity IPOs through Designated Intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants). All Other Category of Investors shall mandatorily use only ASBA facility for making payments.
SUBSCRIPTION DETAILS
As per the Final certificates issued by the SCSB's, Syndicate ASBA & UPI 3041 applications for 4,11,9000 Equity Shares have been received and the amount collected/blocked is Rs. 51,48,75,000.00 resulting in 1.03 times subscription (including reserved portion of market maker and underwriters portions).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) | Shares as per Prospectus |
| Market Makers | 1 | 0.09 | 2,00,000 | 4.86 | 1.00 | 2,00,000 |
| Other than Retail Individual Investors | 31 | 1.02 | 85,000 | 2.06 | 0.04 | 19,00,000 |
| Retail Individual Investors | 3008 | 98.92 | 30,08,000 | 73.03 | 1.52 | 19,00,000 |
| Underwriter/ Lead Manager Devolvement | 1 | 0.03 | 8,26,000 | 20.05 | 1.00 | |
| Total | 3041 | 100.00 | 41,19,000 | 100.00 | 1.03 | 40,00,000 |
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 | 114 | 1,14,000 |
| Other than Retail Individual Investors | 2 | 5,000 |
| Total | 116 | 1,19,000 |
After eliminating technically rejected applications, the following tables give us category wise net valid applications:
| Category | Number of Application(s) | % to Total | Issue Size (as per Prospectus) | After Spill Over | Revised Reserved Shares | No. of Valid Shares applied | % of Total Applied | Subscription (Times) | Revised Subscription (Times) |
| Market Maker | 1 | 0.03 | 2,00,000 | - | 2,00,000 | 2,00,000 | 5.00 | 1.00 | 1.00 |
| Other than Retail Individual Investor's | 31 | 1.02 | 19,00,000 | (18.20,000) | 80,000 | 80,000 | 2.00 | 0.04 | 1.00 |
| Retail Individual Investor's | 3008 | 98.92 | 19,00,000 | 9,94,000 | 28,94,000 | 28,94,000 | 72.35 | 1.52 | 1.00 |
| Underwriter/ Lead Manager Devolvement | 1 | 0.03 | - | 8,26000 | 8,26,000 | 8,26,000 | 20.65 | 1.00 | 1.00 |
| Total | 3041 | 100.00 | 40,00,000 | - | 40,00,000 | 40,00,000 | 100.00 | 1.00 | 1.00 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - NSE on Tuesday; November 09, 2021.
A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 125 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,00,000 Equity shares.
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. 125 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times i.e. for 28,94,000 Equity Shares. Total number of shares allotted in this category is 28,94,000 Equity Shares to 2894 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 | %to Total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Oft) | Allocation per Applicant (After Rounding Off) | Ratio of Allottee's To Applicant: Ratio 1 | Ratio of Allottee's to Applicant: Ratio 2 | Number of Successful applicants (after rounding off) | Total No. of Equity Shares allocated/ allotted | No. of Shares Surplus/ Deficit |
| 1,000 | 2894 | 100.00 | 28,94,000 | 100.00 | 37,20,000* | 1,000 | 1,000 | 1 | 1 | 2894 | 28,94,000 | (8,26,000) |
*includes original reservation of 19,00,000 shares and spill over from Non-Retail Individual Investors Category of 18,20,000 shares. Further, the under subscribed 8,26,000 shares from the Retail Investors Category have allocated for Devolvement by the Underwriter to the Issue.
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. 125 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times i.e. for 80,000 shares. The total number of shares allotted in this category is 80.000 Equity Shares to 29 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 | % to Total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation pei Applicant (After Rounding Off) | Ratio of Allottee's To Applicant: Ratio 1 | Ratio of Allottee's 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 | 21 | 72.41 | 42,000 | 52.50 | 9,97,500 | 2,000 | 2,000 | 1 | 1 | 21 | 42,000 | (9,55,500) |
| 3,000 | 2 | 6.89 | 6,000 | 7.50 | 1,42,500 | 3,000 | 3,000 | 1 | 1 | 2 | 6,000 | (1,36,500) |
| 4,000 | 2 | 6.89 | 8,000 | 10.00 | 1,90,000 | 4,000 | 4,000 | 1 | 1 | 2 | 8,000 | (1,82,000) |
| 5,000 | 3 | 10.34 | 15,000 | 18.75 | 3,56,250 | 5,000 | 5,000 | 1 | 1 | 3 | 15,000 | (3,41,250) |
| 9,000 | 1 | 3.44 | 9,000 | 11.25 | 2,13,750 | 9,000 | 9,000 | 1 | 1 | 1 | 9,000 | (2,04,750) |
| TOTAL | 29 | 100.00 | 80,000 | 100.00 | 1,900,000 | 29 | 80,000 | (18,20,000) |
D. Allocation to Lead Manager as Underwriters Obligation (After Technical Rejections & Withdrawal):
The Basis of Allotment to Lead Manager as Underwriters Obligation, at the issue price of Rs. 125 per Equity Share, was finalized in consultation with NSE. The Issue is 100% underwritten and hence the unsubscribe portion of 8,26,000 Equity Shares under the category of Non-Retail Investors was subscribed as per Lead Manager Underwriters Obligation at the Issuer Price of Rs. 125 per Equity Share. The Lead Manager to the Issue has fulfilled the said underwriting obligation in their own account as per the Devolvement Notice and in consultation with NSE. The category was subscribed by 1.00 times i.e. for 8,26,000 shares. The total number of shares allotted in this category is 8,26,000 Equity Shares to 1 successful applicants.
The Board of Directors of the Company at its meeting held on November 09, 2021 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The Refund/allotment intimation will be dispatched to the address of the Applicants as registered with the depositories on or before November 11, 2021. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or before November 11, 2021. 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 line, investors may contact at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the EMERGE Platform of NSE 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 meaning assigned to them in the Prospectus dated October 23, 2021 ("Prospectus")
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue Big share Services Private Limited at 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 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:
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BIGSHARE SERVICES PRIVATE LIMITED |
| 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, | |
| Andheri East, Mumbai - 400 059, Maharashtra, India | |
| Tel. No.: +91 22 6263 8200; Fax. No.: +91 22 6263 8299 | |
| Email: ipo@bigshareonline.com | |
| Investor Grievance Email: investor@bigshareonline.com | |
| Website: www.bigshareonline.com | |
| SEBI Registration No.: INR000001385 | |
| Contact Person: Babu Raphel |
| For NIDAN LABORATORIES AND HEALTHCARE LIMITED | |
| On behalf of the Board of Directors | |
| Place: Mumbai | Ms. Tejal Anil Jayakar |
| Date: November 10, 2021 | Executive Director |
THE 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 NIDAN LABORATORIES AND HEALTHCARE LIMITED.
The Equity Shares have not been and will not be registered under the US Securities Act (the "Securities Act") or any state securities law in United States and may not be Issued or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in the Regulations under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act of 1933.
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