| Basis of Allotment |
(This is only an advertisement for Information purpose and not a Prospectus announcement)
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ASCENSIVE EDUCARE LIMITED |
| Corporate Identification Number: U80901WB2012PLC189500 |
Our Company was incorporated as "Ascensive Educare Private Limited" under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated December 26, 2012 bearing Registration No. 189500 issued by the Registrar of Companies, Kolkata, West Bengal. Further, our Company was converted into a Public Limited Company and the name of our Company was changed to "Ascensive Educare Limited" vide special resolution dated April 16, 2020. A fresh certificate of incorporation consequent to conversion into public limited Company was issued to our Company by the Registrar of Companies, Kolkata, West Bengal on May 04, 2020. Our Company was recognized as a startup pursuant to the Certificate of Recognition number DIPP23532 dated June 29, 2018 issued by Department for Promotion of Industry and Internal Trade. For further details, including change in our Registered Office, please refer the chapter "History and Certain Corporate Matters" beginning on Page No. 100 of the Prospectus.
| Registered Office: Ascent Enclave, 1110, Rasbihari Avenue, Fatokgora, Chandannagar, Hooghly, West Bengal - 712 136 |
| Corporate Office: BF - 32. 2nd Floor Sector 1, Salt Lake City, Bidhannagar, Kolkata, West Bengal - 700 064. |
| Tel. No.: (033)-4071 -5661 Fax: (033) 4071 5662 Email: info@aimetr.com Website: www.ascensiveeducare.com |
| Contact Person: Mr. Anand Lohia, Company Secretary and Compliance Officer |
| OUR PROMOTER: MR. ABHIJIT CHATTERJEE ANO MRS. SAYANI CHATTERJEE |
| Basis of Allotment |
PUBLIC ISSUE OF 8,68,000 EQUITY SHARES OF RS. 10/- EACH ("EQUITY SHARES") OF ASCENSIVE EDUCARE LIMITED ("AEL" OR THE "COMPANY") FOR CASH AT A PRICE OF RS. 26/- PER SHARE (THE "ISSUE PRICE"). AGGREGATING RS. 225.68 LAKHS ("THE ISSUE"), OF WHICH 44,000 EQUITY SHARES OF RS. 10/- EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 8.24,000 EQUITY SHARES OF RS. 26/- EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.05% AND 25.68%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
| THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH. |
| THE ISSUE PRICE OF RS. 26/- PER EQUITY SHARE WAS 2.6 TIMES OF THE FACE VALUE. |
| ISSUE OPENED ON: THURSDAY, DECEMBER 30, 2021 AND |
| CLOSED ON: TUESDAY, JANUARY 04, 2022 |
This Issue was made In terms of chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "SEBI ICDR REGULATIONS"), as amended In terms of rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"), the Issue was made for at least 25% of the post-issue paid-up equity share capital of our company. This Issue is a fixed price issue and allocation in the net issue to the public was made in terms of regulation 253 of the SEBI ICDR Regulations, as amended. For further details, please refer to section titled "Issue Procedure" beginning on page no. 152 of the Prospectus.
Listing: The Equity Shares of our Company issued through the Prospectus are proposed to be listed on the BSE Startups Platform of BSE Limited, in terms of the Chapter IX of the SEBI ICDR Regulations as amended from time to time. Our Company has received an In-Principle approval letter dated December 22, 2021 from BSE Limited ("BSE") for using its name in the Offer document for listing of our shares on the BSE Startups Platform of BSE Limited. For the purpose of this Issue, BSE Limited shall be the Designated Stock Exchange. Our Company will file listing application on or before January 10, 2022 with BSE. The trading is proposed to be commenced on or before January 12, 2022 (Subject to receipt Of listing and trading approvals from BSE).
| SUBSCRIPTION DETAILS |
The Issue has received 436 applications for 22,04,000 Equity shares (before rejections, before application not banked but after Invalid Multiple/ Duplicate applications) including Market Maker Application of 44,000 Equity Shares. The Issue was subscribed to the extent of 2.5392 times as per the bid book received from BSE (before rejections, before application not banked but after Invalid Multiple /Duplicate application). After considering the technical rejections cases, the Issue v/as subscribed 2.1475 times.
The details of application received (Before Technical Rejection but after application not banked and application banked but application not registered):
| CATEGORY | NUMBER OF APPLICATIONS | % OF TOTAL | NUMBER OF EQUITY SHARES APPLIED | SUBSCRIPTION |
| Market Maker | 1 | 0.23 | 44,000 | 1.00 |
| Other than Retail Individual Investors | 12 | 2.75 | 4,68,000 | 1.14 |
| Retail Individual Investors | 423 | 97.02 | 16,92,000 | 4.11 |
| Total | 436 | 100.00 | 22,04,000 | 2.54 |
Summary of Valid Applications (alter Technical and multiple rejections):
| Category | Gross | Less: Rejections | Valid | Subscription (based on reservation in the Prospectus) | |||
| Number of Applications | Equity Shares applied | Number of Applications | Equity Shares applied | Number of Applications | Equity Shares applied | ||
| Market Maker | 1 | 44,000 | 0 | 0 | 1 | 44,000 | 1.00 |
| Other than Retail Individual Investors | 10 | 3,12,000 | 0 | 0 | 10 | 3,12,000 | 0.76 |
| Retail Individual Investors | 380 | 15,20,000 | 3 | 12,000 | 377 | 15,08,000 | 3 66 |
| Total | 391 | 18,76,000 | 3 | 12,000 | 388 | 18,64,000 | 2.16 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on January 07, 2022.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the Issue Price of Rs.26/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 1.00 time. The total number of Equity Shares allotted in this category is 44,000 Equity Shares in full out of reserved portion of 14,400 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. 26/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.20 times. Total number of Equity Shares allotted in this category is 6,84,000 Equity Shares. The category wise basis of allotment is asunder:
| No. of Equity Shares applied for (Category wise) | Number of applications received | %to total | Total No. of Equity Shares applied | %to total | Proportionate Equity Shares available | Allocation per Applicant | Ration of allottees to applicant | Total No. of Equity Shares allotted | %to total | Surplus/ Deficit | |
| Before Rounding off | After Rounding off | ||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (1) | (12) |
| 4,000 | 377 | 100 | 15,08,000 | 100 | 6,84,000 | 1,814.32 | 4,000 | 171:377 | 6,84,000 | 100 | 0 |
C. Allocation to Other than Retail Individual Investor (Alter Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the Issue Price of Rs. 26/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.23 times. Total number of Equity Shares allotted in this category is 1,40,000 Equity Shares. The category wise basis of allotment is as under:
| No. of Equity Shares applied for (Category wise) | Number of applications received | %to total | Total No. of Equity Shares applied | %to total | Proportionate Equity Shares available | Allocation per Applicant | Ration of allottees to applicant | Total No. of Equity Shares allotted | %to total | Surplus/ Deficit | ||
| Before Rounding off | After Rounding off | |||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | |
| 8,000 | 5 | 50 | 40,000 | 12.82 | 17,949 | 3589.80 | 4,000 | 4 | 5 | 16,000 | 11.43 | -1949 |
| 12,000 | 1 | 10 | 12,000 | 3.85 | 5,385 | 5385.00 | 4,000 | 1 | 1 | 4,000 | 2.86 | -1385 |
| 16,000 | 1 | 10 | 16,000 | 5.13 | 7,179 | 7179.00 | 8,000 | 1 | 1 | 8,000 | 5.71 | 821 |
| 24,000 | 1 | 10 | 24,000 | 7.69 | 10,769 | 10769.00 | 12,000 | 1 | 1 | 12,000 | 8.57 | 1231 |
| 28,000 | 1 | 10 | 28,000 | 8.97 | 12,564 | 12564.00 | 12,000 | 1 | 1 | 12,000 | 8.57 | -564 |
| 1,92,000 | 1 | 10 | 1,92 000 | 61.54 | 86,154 | 86154.00 | 88,000 | 1 | 1 | 88,000 | 62.86 | 1846 |
| Total | 10 | 100 | 3,12,000 | 100 | 1,40,000 | 1,40,000 | 100 | 0 | ||||
The Board of Directors of the Company at its meeting held on January 7, 2022 has taken on record the Basis of Allotment 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 January 11, 2022. Further, the instructions to SCSBs has been issued on January 7, 2022 for unblocking of funds. The request for electronic credit of Equity Shares will be made to Depositories on or before January 7, 2022. 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 BSE Startups Platform of BSE Limited with in six working days from the date of the closure of the Issue. Our Company will file listing application on or before January 10, 2022 with BSE. The trading is proposed to be commenced on or before January 12, 2021 (Subject to receipt of listing and trading approvals from BSE)
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:
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LINK INTIME INDIA PRIVATE LIMITED |
| Address: C-101,1st Floor, 247 Park, Lal Bahadur Shashtri Marg, | |
| Vikhroli (West), Mumbai -400 083, Maharastra, India | |
| Tel: +91 022 49186200 Fax: +91 022 49186195 | |
| Email: ascensive.ipo@linkintime.co.in Website: www.linkintime.co.in | |
| Investor Grievance Email: ascensive.ipo@linkintime.co.in | |
| Contact Person: Shanti Gopalkrishnan | |
| SEBI Registration Number: INR000004058 |
| For Ascensive Educare Limited | |
| On behalf of the Board of Directors | |
| Sd/- | |
| Place: Kolkata | Sayani Chatterjee |
| Date: January 7, 2022 | Chairperson & 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 ASCENSIVE EDUCARE LIMITED.
Note: All capitalized terms used and not defined here in shall have the respective meanings assigned to them in the Prospectus. Ascensive Educare Limited is proposing, subject to market conditions, public issue of its equity shares and has filed the Prospectus with the Registrar of Companies, Gujarat. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Lead Manager at www.gyrcapitaladvisors.com, website of the BSE Limited at www.bseindia.com and website of Issuer Company at www.ascensiveeducare.com. Investors should note that investment in Equity Shares involves a high degree of risk. For details, investors shall refer to and rely on the Prospectus including the section titled "Risk Factors" beginning on page no. 18 of the Prospectus, which has been filed with ROC. 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 with 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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