| Basis of Allotment |
THIS IS A PUBLIC ANNOUCEMENT FOR INFORMATION PURPOSES 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.
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RESGEN LIMITED |
| Corporate Identification Number: U37200MH2018PLC315052 |
Our Company was originally incorporated on September 29, 2018 as a Private Limited Company as "Ecojanitors Private Limited" under the provisions of the Companies Act. 2013 with the Registrar of Companies. Central Registration Centre. Later in the year 2022, pursuant to a Special Resolution of our Shareholders passed in the Extra- Ordinary General Meeting held on June 11, 2022, our Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of our Company was changed to "Ecojanitors Limited" and a Fresh Certificate of Incorporation consequent to Conversion was issued on July 01, 2022 by the Registrar of Companies, Mumbai. Subsequently, the name of the company was changed from "Ecojanitors Limited" to "ResGen Limited" under the Companies Act , 2013 pursuant to a special resolution passed by our shareholders at the EGM held on September 01, 2022 and vide certificate of incorporation pursuant to change of name dated September 27, 2022 issued by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U37200MH2018PLC315052.For further Details of Incorporation and Change in Registered Office of our Company, please refer to section titled *Our History and Certain Other Corporate Matters’ beginning on page 121 of this Prospectus.
| Registered Office: 919. Floor 9th. Plot-221, Maker Chamber V Jamnalal Bajaj Marg. Nariman Point Mumbai - 400021. Maharashtra. India. |
| Contact Person: Ms. Manisha Sharma. Company Secretary & Compliance Officer. |
| Tel No: 022-22810181 | E-mail: info@resgen.in | Website: www.resgen.in |
| OUR PROMOTERS: MR. KARAN ATUL BORA AND MR. KUNAL ATUL BORA |
| BASIS OF ALLOTMENT |
PUBLIC ISSUE OF 60,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH ( "EQUITY SHARES" ) OF RESGEN LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 47.00 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 37.00 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 2,820.00 LAKHS ("THE ISSUE") OF WHICH 3,00,000 EQUITY SHARES AGGREGATING TO Rs. 141.00 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 57,00,000 EQUITY SHARES AGGREGATING TO Rs. 2,679,00 LAKHS (THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.61% AND 27.18% RESPECTIVELY OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| ISSUE PRICE: Rs. 47.00 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH |
| ANCHOR INVESTOR ISSUE PRICE: Rs. 47.00 PER EQUITY SHARE THE ISSUE PRICE IS 4.7 TIMES OF THE FACE VALUE |
| Risks to investors: |
| a. | There are outstanding legal proceedings involving our Company, Promoters and Directors. Any adverse decision in such proceeding may have a material adverse effect on our business, results of operations and financial condition. |
| b. | We have a limited experience and operating history in our core business activity, which makes it difficult to accurately assess our future growth prospects and may negatively affect our business, financial condition, cash flows and results of operations. |
| c. | Our Registered Office and our Factory are not owned by us. The same are occupied by us on a lease basis. Disruption of our rights as lessee or termination of the agreements with our lessor would adversely impact our operations and. consequently, our business. |
| d. | Our Company operates in the renewable energy industry, which is subject to rapid changes based on the Innovations and technological changes, and depends on core competencies of the Company to provide best in industry solution. |
| e. | The COVID-19 pandemic has had. and is expected to have, a material adverse effect on our business, financial condition, results of operations and cash flows. |
| f. | Our business is substantially dependent on our key customers from whom we derive a significant portion of our revenues. The loss of any significant clients may have a material and adverse effect on our business and results of operations. |
| BID/ISSUE PERIOD | ANCHOR INVESTOR BIDDING DATE WAS: MONDAY, FEBRUARY 27, 2023 |
| BID/ISSUE OPENED ON: TUESDAY, FEBRUARY 28, 2023 | |
| BID/ISSUE CLOSED ON: THURSDAY, MARCH 02, 2023 |
The Issue was made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 253 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. 2018 ("SEBI ICDR Regulations") wherein not more than 50% of the Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the Book Running Lead Managers ("BRLM") had reserved up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"). However the same was not allocated, due to non-receipt of Anchor Application. Further, not less than 15% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was made available for allocation to Rlls in accordance with xlp. SEBI (ICDR) Regulations. 2018, subject to valid Bids having been received from them at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts were blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 191 of the Prospectus.
The bidding for Anchor Investors opened and closed on Monday. February 27.2023. The Company did not receive any Anchor Investors Applications.
The Issue (excluding Anchor Investors Portion) received 5,103 Applications for 2,16,45,000 Equity Shares (before technical rejections) resulting in 3.61 times subscription (including reserved portion of market maker). The details of the Applications received in thelssue from various categories are as under (before technical rejections):
Detail of the Applications Received:
| Sr.No. | Category | No. of Valid Applications | No. of Equity Shares applied | Amount (in?) | Equity Shares Reserved as per Prospectus | No. of times Subscribed |
| 1. | Retail-Individual Investors | 2.547 | 76.41.000 | 35.91.27.000 | 19,98.000 | 3.82 |
| 2. | Non-lnstitutional Investors | 102 | 29.04.000 | 13.64,88.000 | 8.82,000 | 3.29 |
| 3. | Market Maker | 1 | 3,00.000 | 1,41.00.000 | 3,00,000 | 1.00 |
| 4. | Qualified Institutional Buyers lExcludinq Anchor Investors) | 4 | 30,81,000 | 14,48,07,000 | 11,28,000 | 1.09 |
| 5. | Anchor Investors | 0 | 0 | 0 | 16.92.000 | 0.00 |
| Total | 2,654 | 1,39,26,000 | 65,45,22,000 | 6.00.0000 | 2.32 | |
Final Demand: A summary of the final demand as per BSE as on the Bid/' Issue Closing Date at different Bid prices is as under:
| Sr. No. | Bid Price | Bids Quantity | % of Total | Cumulative Total | % Cumulative Total |
| 1 | 45.00 | 48.000 | 0.22 | 2.16.18.000 | 100.00 |
| 2 | 46.00 | 3.000 | 0.01 | 2.15.70.000 | 99.78 |
| 3 | 47.00 | 1.25.22.000 | 57.92 | 2.15.67.000 | 99.76 |
| 4 | CUTOFF | 90,45.000 | 41.84 | 90,45.000 | 41.84 |
| Total | 2,16,18,000 | 100.00 | |||
The Basis of Allotment was finalised in consultation with the Designated Stock Exchange, being BSE Limited on March 08,2023.
1) Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-ofl Price or at or above the Issue Price of Rs. 47.00 per Equity Share, was finalized in consultation with BSE Limited. The category has been subscribed to the extent of 3.82 times. The total number of Equity Shares Allotted in this category is 19,98,000 Equity Shares to 666 successful applicants. The details of the Basis of Allotment of the said category is as under:
| No. o1 Shares Applied lor (Category wise) | No. ot Applications Received | % to Total | Total No. ol Shares Applied | % to Total | No. ot Equity Shares Allotted per Applicant | Ratio | Total No. ot Shares Allotted | Surplus / Deficit |
| Retail Individual Investors | 2547 | 100.00 | 76,41,000 | 100 00 | 3000 | 74:283 | 19,98,000 | 0 |
2) Allotment to Non-Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of 747.00 per Equity Share or above, was finalized m consultation with BSE Limited. The category has been subscribed to the extent of 3.29 times. The total number of Equity Shares Allotted in this category is 8,82,000 Equity Shares to 84 successful applicants. The details of the Basis of Allotment of the said category is as under (Sample Basis):
| No. of Shares Applied for (Category wise) | No. of Applications Received | % to Total | Total No. of Shares Applied in Each Category | % to Total | Total No. of Shares Allotted | Ratio | Surplus / Deficit |
| 6,000 | 40 | 39.22 | 2,40,000 | 8.26 | 72,000 | 3:5 | -893 |
| 9,000 | 20 | 19.61 | 1,80,000 | 6.20 | 54,000 | 9:10 | -669 |
| 12,000 | 3 | 2.94 | 36,000 | 1.24 | 9.000 | 1:1 | -1,934 |
| 3.000 | 1:3 | 3,000 | |||||
| 15,000 | 11 | 10.78 | 1,65,000 | 5.68 | 33.000 | 1:1 | -17,114 |
| 18.000 | 6:11 | 18.000 | |||||
| 18,000 | 1 | 0.98 | 18.000 | 0.62 | 6,000 | 1:1 | 533 |
| 21,000 | 3 | 2.94 | 63,000 | 2.17 | 18,000 | 1:1 | -1,134 |
| 24,000 | 4 | 3.92 | 96,000 | 3.31 | 24,000 | 1:1 | -5,157 |
| 6,000 | 1:2 | 6,000 | |||||
| 27,000 | 1 | 0.98 | 27,000 | 0.93 | 9,000 | 1:1 | 800 |
| 30,000 | 2 | 1.96 | 60,000 | 2.07 | 18.000 | 1:1 | -223 |
| 33,000 | 2 | 1.96 | 66,000 | 2.27 | 18.000 | 1:1 | -2,045 |
| 3,000 | 1:2 | 3,000 | |||||
| 42,000 | 1 | 098 | 42,000 | 1.45 | 12,000 | 1:1 | -756 |
| 45,000 | 2 | 1.96 | 90.000 | 3.10 | 24.000 | 1:1 | -3,335 |
| 3,000 | 1:2 | 3,000 | |||||
| 48,000 | 1 | 0.98 | 48,000 | 1.65 | 15,000 | 1:1 | 421 |
| 51,000 | 2 | 1.96 | 1,02,000 | 3.51 | 30.000 | 1:1 | -979 To |
| 54,000 | 1 | 0.98 | 54,000 | 1.86 | 15.000 | 1:1 | -1.401 |
| 75,000 | 1 | 0.98 | 75,000 | 2.58 | 24.000 | 1:1 | 1,221 |
| 1,05,000 | 1 | 098 | 1,05,000 | 3.62 | 33,000 | 1:1 | 1,109 |
| 1,65,000 | 1 | 0.98 | 1.65.000 | 5.68 | 51,000 | 1:1 | 886 |
| 1,80,000 | 1 | 0.98 | 1,80,000 | 6.20 | 54.000 | 1:1 | -669 |
| 2,07,000 | 1 | 0.98 | 2,07,000 | 7.13 | 63,000 | 1:1 | 130 |
| 2,10,000 | 1 | 0.98 | 2,10,000 | 7.23 | 63.000 | 1:1 | -781 |
| 2,52,000 | 1 | 0.98 | 2,52,000 | 8.68 | 75.000 | 1:1 | -1,537 |
| 4,23,000 | 1 | 0.98 | 4,23,000 | 14.57 | 1.29.000 | 1:1 | 527 |
3) Allotment to QIBs excluding Anchor Investors (After Technical Rejections)
Allotment to QIBs. who have bid at the Issue Price of Rs.47.00 per Equity Share or above, has been done on a proportionate basis in consultation with BSE Limited. This category has been subscribed to the extent of 1.09 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 28,20,000 Equity Shares, which were allotted to 4 successful Applicants.
| Category | Fls/BANK | NBFC | MF's | 1C | AIF | Fils/ FPIs | OTHERS | TOTAL |
| QIB | - | - | - | - | * | 18,48,000 | 9,72,000 | 28,20,000 |
4) Allotment to Anchor Investors (After Technical Rejections)
The Company has not received any application from Anchor Investor.
The Board of Directors of our Company at its meeting held on March 08. 2023 has taken on record the basis of allotment of Equity Shares approved by the Designate- Stock Exchange, being BSE Limited and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatche- to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched / mailed for unblocking of funds and transfe to the Public Issue Account on or before March 08. 2023 and payment to non-Syndicate brokers have been issued on March 09.2023. In case the same is not receive- within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allotteesshall be uploaded on a before March 09. 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is i; the process of obtaining the listing and trading approval from BSE Limited and the trading of the Equity Shares is expected to commence on March 13. 2023.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 06,2023 filed with the Registra of Companies. Mumbai. Maharashtra ("RoC").
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: https://www.bigshareonline.com/ipo_Allotment.html
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for. Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below
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BIGSHARE SERVICES PRIVATE LIMITED |
| Address: S6-2,6th Pinnacle Business Park, Mahakali Caves Road, | |
| next to Ahura Centre. Andheri East, Mumbai - 400093. Maharashtra. India | |
| Tel. No.: +91 - 22 - 6263 8200 | CIN: U99999MH1994PTC076534 | |
| Website: www.bigshareonlme.com | Email: ipo@bigshareonline.com | |
| Contact Person: Mr. Swapnil Kate | SEBI Regn. No.: INR000001385 |
| On behalf of Board of Directors | |
| Resgen Limited | |
| Sd /- | |
| Karan Atul Bora | |
| Place: Mumbai | Managing Oirector |
| Date : March 09,2023 | DIN:08244316 |
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 RESGEN LIMITED.
Disclaimer: Resgen Limited has filed the Prospectus with the RoC on March 07, 2023 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of SME Platform of BSE Limited at https://www.bsesme.com/ and on the websites of the BRLM, Gretex Corporate Services Limited at https://gretexcorporate.Com /ipo/Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 27 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 "Securities Act") or any state securities laws in the United States, and unless so registered, 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 Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in 'offshore transactions' in relianceon Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and salesare made. There will be no public offering in the United States.
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