|Basis of Allotment|
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPO SES ONLY AND IS NOT A PROSPECTUS 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 DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
|LE MERITE EXPORTS LIMITED|
Our Company was originally incorporated as a Private Limited Company in name and style of "Didwaniya Yarn Exports Private Limited" on December 24, 2003 under the Companies Act, 1956 bearing Corporate Identification Number U17111MH2003PTC143645 issued by the Registrar of Companies, Maharashtra, Mumbai. Prakashchandra Didwaniya, Prashant Didwaniya and Chandabai Didwaniya were the original Promoters and subscribers of the Company at the time of incorporation. Further, the name of our Company was changed to "LeMerite Exports Private Limited" and a special resolution was passed by the Shareholders of the Company at the Extra-Ordinary General Meeting held on August 07, 2004. The Assistant Registrar of Companies, Maharashtra, Mumbai issued afresh Certificate of Incorporation dated September 02, 2004, upon change of the name. Further, on March 31, 2006 the entire share capital of our Company was transferred by the Didwaniya family to the Lath family and the control of the company was handed over to Lath Family, the new promoters of our company, pursuant to share transfer deed. Further, 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 02, 2015 and consequent upon such conversion the name of our Company was changed to "Le Merite Exports Limited" vide a fresh certificate of incorporation dated July 08, 2015 bearing Corporate Identification Number U17111MH2003PLC143645 issued by the Deputy Registrar of Companies, Mumbai. For further details, please referto sections titled "General Information" and "History and Certain Corporate Matters" beginning on page 53 and 150 respectively of the Prospectus.
|Registered Office: B1-104 D, Boomerang, Chandivali Farm Road, Powai, Andheri (East), Mumbai - 400072 Maharashtra, India | Tel No: 022 28579209|
|Email Id:firstname.lastname@example.org | Website: www.lemeriteexports.com|
|Contact Person: Sarita Mishra, Company Secretary and Compliance Officer|
|PROMOTERS OF OUR COMPANY: ABHISHEK LATH AND UMASHANKAR LATH|
Our Company has filed the Prospectus with the RoC and the Equity Shares are proposed to be listed on the EMERGE Platform of NSE Limited ("NSE") and trading of the Equity Shares Allotted pursuant to the Offer is expected to commence on or about May 09, 2022. (Subject to receipt of listing and trading approval from NSE).
|BASIS OF ALLOTMENT|
INITIAL PUBLIC ISSUE OF 64,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00/- EACH ("EQUITY SHARES") OF LE MERITE EXPORTS LIMITED ("THE COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 75 PER EQUITY SHARE (THE "ISSUE PRICE"), (INCLUDING A PREMUIM OF Rs 65 PER EQUITY SHARE), AGGREGATING TO Rs 4800.00 LAKHS ("THE ISSUE"), OF WHICH 3,36,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00/- FOR CASH AT A PRICE OF Rs 75 EACH AGGREGATING TO Rs. 252.00 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSU E (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 60,64,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH FOR CASH AT A PRICE OF Rs. 75 PER EQUITY SHARE, AGGREGATING TO Rs. 4548.00 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.26% AND 25.83% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
|THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00/- EACH AND THE ISSUE PRICE IS Rs. 75.00/- PER EQUITY SHARE|
|THE ISSUE PRICE IS 7.50 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.|
|ISSUE||OPENED ON: MONDAY, APRIL 25, 2022|
|CLOSED ON: THURSDAY, APRIL 28, 2022|
The Equity Shares of the Company offered through the Prospectus dated April 13,2022 are proposed to be listed on the EMERGE Platform of NSE Limited ("NSE EMERGE") in terms of the Chapter IX of SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received In-Principle Approval Letter dated March 25, 2022 from NSE for listing our shares and also for using its name in the offer document for listing of our shares on EMERGE Platform of NSE Limited. It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Prospectus for the full text of the "Disclaimer Clause of the EMERGE Platform of NSE Limited" on page 248 of the Prospectus. For the purpose of this issue the Designated Stock Exchange will be NSE Limited ("NSE") The trading is proposed to be commenced on or about May 09, 2022 (Subject to receipt of listing and trading approval from NSE).
This issue is being made through Fixed Price Process in terms of Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI (ICDR) Regulations") as amended and Rule 19(2) (b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"). According to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018 as amended from time to time, the allocation in the Net Issue to the Public category is made as follows: (a) minimum 50% of the net issue of shares shall be allocated 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 number of specified securities applied for; provided that the unsubscribed portion in either of categories specified in clauses (a) or (b) may be allocated to applicants in the other category.
If the retail individual investor category is entitled to more than allocated portion on proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage. For further details, please refer to section titled "Issue Structure" beginning on page no. 264 of the Prospectus.
All investors have participated in this issue through Application Supported by Blocked Amount ("ASBA") process including through Unified Payment Interface ("UPI") mode (as applicable) by providing the details of the respective bank accounts / UPI ID as applicable in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs") / Sponsor Bank as the case may be.
DETAILS OF THE APPLICATION:
The Issue has received 31,606 applications (after invalid bid multiple but before rejections and bids not banked) for 9,51,21,600 Equity Shares (Including Market Maker Application of 3,36,000 Equity Shares) resulting 14.86 times subscription.
The details of the applications received in the Issue from Retail Individual Investors, Non-Institutional Investors and Market Maker (before and after technical rejections & withdrawal) are as follows:
DETAILS OF APPLICATIONS RECEIVED (Before Technical Rejection and after amounts not blocked)
|Category||Number of applications||Number of equity shares applied||Number of equity shares reserved as per Prospectus||Number of times subscribed|
|Retail Individual Investor's||26,610||4,25,76,000||30,32,000||14.04|
|Other than Retail Individual Investor's||1,084||4,38,65,600||30,32,000||14.46|
DETAILS OF VALID APPLICATIONS:
|No. of applications||No of equity shares||No. of applications||No of equity shares||No. of applications||No of equity shares|
|Retail Individual Investor's||26,610||4,25,76,000||558||8,92,800||26,052||4,16,83,200|
|Other than Retail Individual Investor's||1,084||4,38,65,600||21||1,52,000||1,063||4,37,13,600|
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange i.e NSE Limited on May 04, 2022.
Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 75.00/- per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed by 1 times. The total number of shares allotted in this category is 3,36,000 Equity shares in full out of reserved portion of 3,36,000 Equity Shares.
C. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 75.00/- per Equity Share, was finalized in consultation with NSE EMERGE. The category was subscribed by 13.75 times. The total number of shares allotted in this category is 30,32,000 Equity shares out of reserved portion of 30,32,000 Equity Shares.
|Sr. No.||No. of Shares applied for (Category wise)||Number of applications received||% to total||Total No. of Shares applied in each category||% to total||Proportionate shares available||Allocation per Applicant||Ration of allottees to applicants||Serial Number of Qualifying applicants||Number of successful applicants (after rounding)||% to total||Total No. of shares allocated/ allotted||% to total||Surplus/ Deficit (14)-(7)|
|Before Rounding off||After rounding off|
D. Allocation to Non- Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non-Retail Individual Investors, at the issue price of Rs. 75.00/- per Equity Share, was finalized in consultation with NSE EMERGE. The category was subscribed by 14.42 times. The total number of shares allotted in this category is 30,32,000 Equity shares out of reserved portion of 30,32,000 Equity Shares.
|Sr. No.||No. of Shares applied for (Category wise)||Number of applications received||% to total||Total No. of Shares applied in each category||% to total||Proportionate shares available||Allocation per Applicants||Ration of allottees to applicants||Serial Number of Qualifying applicants||Number of successful applicants (after rounding)||% to total||Total No. of shares allocated/ allotted||% to total||Surplus/ Deficit (14)-(7)|
|Before Rounding off||After rounding off|
The Board of Directors of the Company at its meeting held on May 04, 2022 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE EMERGE and has authorized the online corporate action for the allotment of the Equity Shares in dematerialised form to various successful applicants. The CAN-cum-Refund Orders and Allotment Advice and/or Notices are being dispatched to the address of the applicants as registered with the depositories / as filled in the application form on or before May 05, 2022. Further, the instructions to Self-Certified Syndicate Banks being processed on or prior to May 04, 2022 for unblocking fund. In case the same is not received within Four (4) days, investors may contact at the address given below. 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. The company shall file the listing application with NSE on Monday May 09, 2022. The Company is in process of obtaining the listing & the trading approval from NSE and the trading is expected to commence on or about Monday May 09, 2022. Note: All capitalised terms used and not specifically defined herein shall have the same meaning as Ascribed to them in the Prospectus April 13, 2022.
INVESTORS, PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at www.biashareonline.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:
|BIGSHARE SERVICES PRIVATE LIMITED|
|1st Floor, Bharat Tin Works Building, Club House Road,|
|Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai 400059|
|Tel No: 022 6263 8200 E-mail Id: email@example.com Website: www.bioshareonline.com|
|Contact Person: Swapnil Kate SEBI Registration No: INR000001385|
|FOR LE MERITE EXPORTS LIMITED|
|On behalf of the Board of Directors|
|Date: May 05, 2022||Managing Director and CFO|
|Place: Mumbai, Maharashtra||DIN: 00331675|
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF LE MERITE EXPORTS LIMITED.
The Equity Shares offered in this Offer have not been and will not be registered under the US Securities Act 1933, as amended (the "Securities Act") or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation's of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares will be offered and sold (i) within the United States only to persons reasonably believed to be "Qualified Institutional Buyers" (as defined in Rule 144A of the Securities Act) under Section 4(a) of the Securities Act, and (ii) outside the United States in offshore transaction in reliance on Regulations under the Securities Act and the applicable laws of the jurisdiction where those offer 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.