| Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT)
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NIRMAN AGRI GENETICS LIMITED |
| Corporate Identification Number: U01110MH2020PLC344089 |
Our Company was incorporated as Nirman Agri Genetics Private Limited on August 19, 2020 under the Companies Act, 2013 with the Registrar of Companies, Mumbai bearing Registration number 344089 The status of the Company was changed to public limited and the name of our Company was changed to Nirman Agri Genetics Limited vide Special Resolution passed at EGM dated December 05,2022. The fresh certificate of incorporation consequent to conversion was issued on January 03,2023 by the Registrar of Companies. Mumbai, For further details of our Company, see "General Information" and "History and Certain Other Corporate Matters' on pages 42 and 110, respectively.
| Registered Office: Vedant Apartment, Near Reliance Shopee, Dindori Road, Panchavati, Nashik - 422 003 Maharashtra, India; |
| Corporate Office: N.A.: Tel: +91 253 2943101; Website: www.nirmanagrigen.com; E-mail: cs@nirmanagrigen.com; |
| Contact Person: Mr. Kamlesh Yadav. Company Secretary and Compliance Officer |
| PROMOTERS OF OUR COMPANY: MR. PRANAV KAILAS BAGAL |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF UP TO 20,50,800 EQUITY SHARES OF Rs. 10 EACH (" EQUITY SHARES") OF NIRMAN AGRI GENETICS LIMITED ("NIRMAN" OR THE "COMPANY") FOR CASH AT A PRICE OF Rs. 99.00 PER EQUITY SHARE (THE "OFFER PRICE"), AGGREGATING TO Rs. 2030.29 LAKHS ("THE OFFER"). OF THE OFFER. 1,04,400 EQUITY SHARES AGGREGATING TO Rs. 103.36 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE OFFER LESS THE MARKET MAKER RESERVATION PORTION I.E. OFFER OF 19,46,400 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH AT AN OFFER PRICE OF Rs. 99.00 PER EQUITY SHARE AGGREGATING TO Rs. 1,926,94 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER WILL CONSTITUTE 34.40% AND 32.65%, RESPECTIVELY OF THE POST OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, SEE "TERMS OF THE OFFER" ON PAGE 189 OF THE 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) | Other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for; | |
| c. | The unsubscribed portion in either of the categories specified in (a) or (b) above may be allocated 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. 10.00 EACH |
| AND THE ISSUE PRICE OF RS. 99.00 IS 9.9 TIMES OF THE FACE VALUE. |
| ISSUE OPENED ON: WEDNESDAY, MARCH 15, 2023; ISSUE CLOSED ON: MONDAY, MARCH 20, 2023 |
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 March 02, 2023 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 the Issue, the Designated Stock Exchange will be NSE. The trading is proposed to be commenced on March 28, 2023, Tuesday (Subject to the receipt of listing and trading approval from the NSE).
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 Maker | 1 | 0.05 | 104.400 | 3.11 | 1.000 | 104,400 |
| Other than Retail Individual Investors | 38 | 2.07 | 1.093,200 | 32.56 | 1.123 | 973.200 |
| Retail Individual Investors | 1800 | 97.88 | 2,160.000 | 64.33 | 2.22 | 973,200 |
| Total | 1839 | 100.00 | 3,357,600 | 100.00 | 1.637 | 2,050,800 |
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
| Category | Number Of Applications | Number of Equity Shares |
| Market Maker | - | - |
| Other than Retail Individual Investors | 7 | 594,000 |
| Retail Individual Investors | 38 | 45,600 |
| Total | 45 | 639,600 |
After eliminating technically rejected applications, the following tables give us category wise net valid applications and allotment:
| Category | Number ot valid Applications | % to Total | No. of Valid Shares applied | Issue Size(as per Prospectus) | Afer Spill Over | No. of Applications Allotted | No. of Shares Allotted | % of Total Allotted | Subscription (Times) in relation to Valid Bids | Revised Subscription (Times) in relation to Shares Allotted |
| Other than Retail Individual Investor's* | 31 | 1.73 | 499,200 | 973,200 | -474,000 | 31 | 499.200 | 24.34 | 0.51 | 1.00 |
| Retail Individual Investor's ** | 1,762 | 98.22 | 2,114,400 | 973,200 | 474,000 | 1206 | 1,447,200 | 70.57 | 2.17 | 1.46 |
| Market Maker | 1 | 0.06 | 104,400 | 104,400 | 0 | 1 | 104,400 | 5.09 | 1.00 | 1.00 |
| Total | 1,794 | 100.00 | 2,718,000 | 2,050,800 | 0 | 1,238 | 2,050,800 | 100.00 | 1.33 | 1.33 |
*the under subscribed portion of 4,74,000 Equity shares from Non Retail Investors Category have been spilled over to Retail Individual Investors Category.
**includes original reservation of 9,73,200 Equity shares and spill over from Non Retail Investors Category of 4,74,000 Equity shares.
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - NSE on Tuesday; March 28, 2023
| A. | Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 99.00 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 1,04,400 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 99.00 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 2.17 times i.e., for 21,14,400 Equity Shares. Total number of shares allotted in this category is 14,47,200 Equity Shares to 1206 successful applicants. |
The category wise details of the Basis of Allotment are as under:
| No. Of Shares Applied for (Category wise) | No. 01 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 |
| 1200 | 1762 | 100 | 211440 | 100 | 1447200** | 421.34 | 1200 | 13 | 19 | 1206 | 1447200 | 0 |
* * includes original reservation of 9,73,200 Equity shares and spill over from Non Retail Investors Category of 4,74,000 Equity shares.
| 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. 99.00 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.51 times i.e., for 4,99,200 shares. The total number of shares allotted in this category is 4,99,200 Equity Shares to 31 successful applicants. |
The category wise details of the Basis of Allotment are as under:
| No. Of Shares Applied for (Category wise) | No. 01 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 |
| 2400 | 16 | 51.59 | 38400 | 7.69 | 74862 | 4678.88 | 2400 | 1 | 1 | 16 | 38400 | -36462 |
| 3600 | 8 | 25.8 | 28800 | 5.76 | 56146 | 7018.25 | 3600 | 1 | 1 | 8 | 28800 | -27346 |
| 4800 | 3 | 9.67 | 14400 | 2.88 | 28073 | 9357.67 | 4800 | 1 | 1 | 3 | 14400 | -13673 |
| 6000 | 1 | 3.22 | 6000 | 1.2 | 11697 | 11697 | 6000 | 1 | 1 | 1 | 6000 | -5697 |
| 7200 | 1 | 3.22 | 7200 | 1.44 | 14036 | 14037 | 7200 | 1 | 1 | 1 | 7200 | -6836 |
| 201600 | 1 | 3.22 | 201600 | 40.38 | 393023 | 393023 | 201600 | 1 | 1 | 1 | 201600 | -191423 |
| 202800 | 1 | 3.22 | 202800 | 40.62 | 395363 | 395363 | 202800 | 1 | 1 | 1 | 202800 | -192563 |
| Total | 31 | 100 | 499200 | 100 | 973200 | 31 | 499200 | -474000 |
the under subscribed portion of 4,74,000 Equity shares from Non Retail Investors Category have been spilled over to Retail Individual Investors Category.
The Board of Directors of the Company at its meeting held on March 24, 2023 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 March 24, 2023. Further, the instructions to Self-Certified Syndicate Banks for unblocking the amount will be processed on or before March 24, 2023. 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 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 March 08, 2023 ("Prospectus").
| 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.bigshare.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 |
| S6-2.6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next To Ahura Centre, Andheri East, Mumbai - 400 093, Maharashtra, India | |
| Tel No.: +912262638200 E-mail: ipo@bigshareonline.com Investor Grievance Email: investor@bigshareonline.com | |
| Website: www.bigshare.com Contact Person: Babu Rapheal C. SEBI Registration No.: INR000001385 |
| For Nirman Agri Genetics Limited | |
| On behalf of the Board of Directors | |
| Sd/- | |
| Place: Nashik | Pranav Kailas Bagal |
| Date: March 24, 2023 | Managing 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 Nirman Agri Genetics 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, 'US. 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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