| Basis of Allotment |
THIS IS A PUBLIC ANNOUNCEMENT 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 PUBLICATION OR DISTRIBUTION, DIRECTLY OR INOIRECTLY, OUTSIDE INDIA.
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MAIDEN FORGINGS LIMITED |
Our Company was originally incorporated on February 11, 2005 as "Maiden Forges Private Limited as a private limited company", under the provisions of the Companies Act, 1956. Later on, consequent upon the conversion of our Company into public limited company, the name of our Company was changed to 'Maiden Forgings Limited" and fresh Certificate of Incorporation dated December 02, 2022 was issued by Registrar of Companies. Delhi The Corporate Identification Number of our Company is U2981QDL20O5PLC132913. details please refer to chapter titled "Our History and Certain Other Corporate Matters" on page 141 of the Prospectus of the Company dated April 3, 2023 filed with the RoC ("Prospectus").
| Registered Office: B-5. Arihant Tower, Block D Market. Vivek Vihar. East Delhi, New Delhi -110092, India. Corporate Office: E 201. Sector 17 Kavi Nagar Ind. Area, Ghaziabad, Uttar Pradesh 201002. |
| Tel: +011-44796732, Website: https://maidenforgings.in. E-mail: cs@maidenforgings.in; Company Secretary and Compliance Officer: Ms. Monika Negi |
| PROMOTERS: MR. N1SHANT GARG AND MS. NIVEDITA GARG |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF 37,84,000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs. 63 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 53 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING 2383.92 LAKHS ("ISSUE / OFFER"). THIS ISSUE INCLUDES A RESERVATION OF 1,90,000 EQUITY SHARES AGGREGATING 119.7 LAKHS FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE SHALL CONSTITUTE 26.62% AND 25.28%, RESPECTIVELY, OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY, RESPECTIVELY.
| THE FACE VALUE OF THE EQUITY SHARE IS Rs. 10 AND THE ISSUE PRICE IS Rs. 63. THE ISSUE PRICE IS 6.30 TIMES THE FACE VALUE OF THE EQUITY SHARES. |
| ISSUE OPENED ON: MARCH 23, 2023 AND ISSUE CLOSED ON: MARCH 27, 2023 |
PROPOSED LISTING: APRIL 6, 2023.
The Equity Shares offered through the Prospectus are proposed to be listed on the SIZE Platform d BSE Limited ("BSE" i.e "BSE SME") in terms of the Chapter IX ol tho SEBICDR Regulation. 2018 as amended from time to time. Our Company has received an in-principle approval letter dated March 13, 2023 from BSE for using its name m the offer document for feting of our shares on the SME Platform of BSE Limited ("BSE SME") For the purpose of the Issue, the Designated Stock Exchange will be the 8SE Limited The trading is proposed to be commenced on or about April 6, 2023*.
'Subject to receipt at listing and trading approvals from the BSE Limited.
All Applicants were allowed to participate in the issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the detail of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs")
| SUBSCRIPTION DETAILS |
The issue has received 1,321 applications for 45,32,000 Equity Shares resulting in 1.12 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical rejections) are as follows:
Detail of the Applications Received (Before Technical Rejection but after application not banked):
| CATEGORY | NUMBER OF APPLICATIONS | % | NUMBER OF EQUITY SHARES | % | SUBSCRIPTION (TIMES) |
| Market Makers | 1 | 0.08% | 1,90,000 | 4.19% | 1.00 |
| Retail Individual Investors | 1,263 | 95 60% | 25,26,000 | 55.73% | 1.06 |
| Non-Retail Individual Investors | 56 | 4 24% | 14,68,000 | 32.40% | 1.35 |
| QIB | 1 | 0.08% | 3,48,000 | 7.68% | 0.97 |
| TOTAL | 1,321 | 100.00% | 45,32,000 | 100.00% | 1.12 |
The details of applications rejected by the Registrar on technical grounds are detailed below:
| Category | No. of Applications | No. of Equity Shares |
| Market Makers | 0 | 0 |
| Retail Individual Investors | 63 | 1,26,000 |
| Non-Retail Individual Investors | 4 | 1,52,000 |
| QIB | 0 | 0 |
| TOTAL | 67 | 2,78,000 |
After eliminating technically rejected applications, the following tables give us category wise net valid applications:
| Category | No. of applicants | % | Reserved Portion (as per Prospectus) | No. of Valid Shares applied | % of Total Applied | Subscription (Times) |
| Market Makers | 1 | 0.08% | 1,90,000 | 1,90,000 | 100% | 1 |
| Retail Individual Investors | 1,200 | 95.69% | 22,64,000 | 24,00,000 | 106% | 1.06 |
| Non-Retail Individual Investors | 52 | 4.15% | 9,70,000 | 13,16,000 | 135.71% | 1.35 |
| QIB | 1 | 0.08% | 3,60,000 | 3,48,000 | 96.67% | 0.97 |
| TOTAL | 1,254 | 100.00% | 37,84,000 | 42,54,000 | 112.42% | 1.12 |
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on April 3, 2023.
| A. | Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs.63 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1.90.000 Equity shares. |
The category wise details of the Basis of Allotment are as under:
| 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 | Proporti- onanate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifyingapplicants | Number of Successful applicants (after rounding off) | % to Total | Total No. of Shares allocated/ allotted | % to Total | Surplus/ Deficit (7)-(14) | ||
| Before rounding off | After rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 190000 | 1 | 100.00 | 1,90,000 | 100.00 | 1.90.000 | 1,90.000 | 1,90,000 | 1 | 1 | 1 | 100.00 | 1.90,000 | 100.00 | 0 | |
| 1 | 100 | 190000 | 100 | 190000 | 1 | 100 | 190000 | 100.00 | 0 | |||||||
| B. | Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 63 per Equity Share, was finalised in consultation with BSE Limited The category was subscribed by 1.06 times i.e., for Equity Shares. The total number of shares allotted in category is 22,64,000 Equity shares to successful applicants. |
The category wise details of the Basis of Allotment are as under:
| Sr. No. | No. of Shares applied for (Category Wise) | Number of applica tions received | % to Total | Total No. of Shares applied in each category | % to Total | Proporti-onanate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number of Successful applicants (after rounding off) | % to Total | Total No. of Shares allocated/ allotted | % toTotal | Surplus/ Deficit (7)-(14) | ||
| Before rounding off | After rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 2000 | 1200 | 100.00 | 24,00,000 | 100.00 | 22,64,000 | 1,867 | 2,000 | 283 | 300 | 1132 | 100.00 | 22,64,000 | 100.00 | ||
| Grand Total | 1200 | 100 | 2400000 | 100 | 2264000 | 1132 | 100 | 2264000 | 100.00 | |||||||
| C. | Allocation to Non-Retail Individual Investors (After Technical Rejections): The Basis of Allotment to Non-Retail Individual Investors, at the issue price of Rs. 63 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.35 times i.e., for Equity Shares the total number of shares allotted in category is 9,82,000 Equity shares to successful applicants. |
The category wise details of the Basis of Allotment are as under:
| Sr. No. | No. of Shares applied for (Category Wise) | Number of applica tions received | % to Total No. Total of Shares applied in each category | % to Total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number % to of Successful Total applicants (after rounding off) | Total No. of Shares allocated/ allotted | % to Total | Surplus/ Deficit (7)-(14) | ||||
| Before rounding off | After rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 4000 | 13 | 25.00 | 52,000 | 3.95 | 38,802 | 2,985 | 2,000 | 1 | 1 | 13 | 25.00 | 26,000 | 2.65 | 12,802 | |
| 4000 | Lottery | 2,000 | 6 | 13 | 1,2,5,6,11,13 | 0 | 0.00 | 12,000 | 1.22 | -12,000 | ||||||
| 2 | 6000 | 5 | 9.62 | 30,000 | 2.28 | 22,386 | 4,477 | 4,000 | 1 | 1 | 5 | 9.62 | 20,000 | 2.04 | 2,386 | |
| 6000 | Lottery | 2,000 | 1 | 5 | 5 | 0 | 3.85 | 2,000 | 0.20 | -2,000 | ||||||
| 3 | 8000 | 2 | 3.85 | 16,000 | 1.22 | 11,939 | 5,970 | 6,000 | 1 | 1 | 2 | 9.62 | 12,000 | 1.22 | -61 | |
| 4 | 10000 | 5 | 9.62 | 50,000 | 3.80 | 37,310 | 7,462 | 6,000 | 1 | 1 | 5 | 0.00 | 30,000 | 3.05 | 7,310 | |
| 10000 | Lottery | 2,000 | 4 | 5 | 1,2,3,4 | 0 | 1.92 | 8,000 | 0.81 | -8,000 | ||||||
| 5 | 12000 | 1 | 1.92 | 12,000 | 0.91 | 8,954 | 8,954 | 8,000 | 1 | 1 | 1 | 9.62 | 8,000 | 0.81 | 954 | |
| 6 | 14000 | 5 | 9.62 | 70,000 | 5.32 | 52,234 | 10,447 | 10,000 | 1 | 1 | 5 | 0.00 | 50,000 | 5.09 | 2,234 | |
| 14000 | Lottery | 2,000 | 1 | 5 | 4 | 0 | 3.85 | 2,000 | 0.20 | -2,000 | ||||||
| 7 | 16000 | 2 | 385 | 32,000 | 243 | 23,878 | 11,939 | 12,000 | 1 | 1 | 2 | 3.85 | 24,000 | 244 | -122 | |
| 8 | 20000 | 2 | 3.85 | 40,000 | 3.04 | 29,848 | 14,924 | 14,000 | 1 | 1 | 2 | 0.00 | 28,000 | 2.85 | 1,848 | |
| 20000 | Lottery | 2,000 | 1 | 2 | 1 | 0 | 1.92 | 2,000 | 0.20 | -2,000 | ||||||
| 9 | 22000 | 1 | 1.92 | 22,000 | 1.67 | 16,416 | 16,416 | 16,000 | 1 | 1 | 1 | 5.77 | 16,000 | 1.63 | 416 | |
| 10 | 24000 | 3 | 5.77 | 72,000 | 5.47 | 53,726 | 17,909 | 18,000 | 1 | 1 | 3 | 1.92 | 54,000 | 5.50 | -274 | |
| 11 | 32000 | 1 | 1.92 | 32,000 | 2.43 | 23,878 | 23,878 | 24,000 | 1 | 1 | 1 | 1.92 | 24,000 | 2.44 | -122 | |
| 12 | 34000 | 1 | 1.92 | 34,000 | 2.58 | 25,371 | 25,371 | 26,000 | 1 | 1 | 1 | 1.92 | 26,000 | 2.65 | -629 | |
| 13 | 36000 | 1 | 1.92 | 36,000 | 2.74 | 26,863 | 26,863 | 26,000 | 1 | 1 | 1 | 1.92 | 26,000 | 2.65 | 863 | |
| 14 | 42000 | 1 | 192 | 42,000 | 3.19 | 31,340 | 31 343 | 32,000 | 1 | 1 | 1 | 1.92 | 32,000 | 326 | -660 | |
| 15 | 46000 | 1 | 1.92 | 46,000 | 3.50 | 34,325 | 34,325 | 34,000 | 1 | 1 | 1 | 1.92 | 34,000 | 3.46 | 325 | |
| 16 | 50000 | 1 | 1.92 | 50,000 | 3.80 | 37,310 | 37,310 | 38,000 | 1 | 1 | 1 | 1.92 | 38,000 | 3.87 | -690 | |
| 17 | 78000 | 1 | 192 | 78,000 | 5.93 | 58,204 | 58 204 | 58,000 | 1 | 1 | 1 | 1.92 | 58,000 | 591 | 204 | |
| 18 | 80000 | 3 | 5.77 | 2,40,000 | 18.24 | 1,79,088 | 59,696 | 60,000 | 1 | 1 | 3 | 5.77 | 1,80,000 | 18.33 | -912 | |
19 |
98000 | 1 | 1.92 | 98,000 | 7 45 | 73,128 | 73,128 | 74,000 | 1 | 1 | 1 | 1.92 | 72,000 | 7.33 | 1,128 | |
| 20 | 104000 | 1 | 1.92 | 1,04,000 | 790 | 77,605 | 77,605 | 78,000 | 1 | 1 | 1 | 1.92 | 78,000 | 7.94 | -395 | |
| 21 | 160000 | 1 | 1.92 | 1,60,030 | 12.16 | 1,19,392 | 1,19,392 | 1,20,000 | 1 | 1 | 1 | 1.92 | 1,20,000 | 12.22 | -608 | |
| 52 | 99.99 | 13,16,000 | 100 | 9,82,000 | 52 | 99.99 | 9,82,000 | 100.00 | ||||||||
| D. | Allocation to QIBs (After Technical Rejections): The Basis of Allotment to QIBs. at the issue price of Rs. 63 per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 0.97 times i.e., for Equity Shares the total number of shares allotted in category is 3,48,000 Equity shares to successful applicants. |
The category wise details of the Basis of Allotment are as under:
| 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 | Proportionanate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number of Successful applicants (after rounding off) | % to Total | Total No. of Shares allocated/ allotted | % to Total | Surplus/ Deficit (7)-(14) | ||
| Before rounding off | After rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 348000 | 1 | 100.00 | 348000 | 100.00 | 360000 | 348000.00 | 348000 | 1 | 1 | 1 | 100.00 | 348000 | 96.67 | 12000 | |
| Grand Total | 1 | 100.00 | 348000 | 100.00 | 360000 | 1 | 100.00 | 348000 | 96.67 | 12000 | ||||||
The Board of Directors of the Company at its meeting held on April 3, 2023 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz BSE Limited and on April 3, 2023 has authorized the corporate action for issue of the Equity Shares to various successful applicants.
The CAN-cum-allotment advices and for notices will be forwarded to the email id’s and address of the Applicants as registered with the depositories / as filled m the application form on or before April 3, 2023. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will process on or prior to April 5, 2023. In case the same is not received within 10 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 depositaries concerned. The Company is taking steps to get the Equity Shares admitted for trading on the BSE SME 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 meanings assigned to them in the Prospectus dated April 3, 2023 ("Prospectus")
| INVESTORS PLEASE NOTE |
The details of the allotment made would also be hosted on the website of the Registrar to the issue, MAASHITLA SECURITIES PVT. LIMITED at www.maashitla.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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MAASHITLA SECURITIES PVT. LIMITED. |
| Address: 451. Krishna Apra Business Square. Neta;i Subhash Place, Pitampura, Delhi. 110034. | |
| Tel No: +91-11-45121795-96; Contact Person: Mr. Mukul Agrawal Email: ipo@maashirla.com; Website: www.maashitla.com; SEBI Registration No.: INR000004370 |
| For MAIDEN FORGINGS LIMITED | |
| On behalf of the Board of Directors | |
| Place: New Delhi | Sd/- |
| Date: April 3, 2023 | Company Secretary & Compliance Officer |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON USTING OT THE BUSINESS PROSPECT OF MAIDEN FORGINGS LIMITED
Disclaimer: MAIDEN FORGINGS LIMITED has filed the Prospectus with the Registrar of Companies. Delhi on April 3, 2023 there after with SEBI and the Stock Exchange. The Prospectus is available on the website of BSE SME at https://www.bsesme.com and is available on the websites of the BRLM at www.shareindia.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the Prospectus including the section titled "Risk Factors" beginning on page 26 of the Prospectus.The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended or any state securities laws in the United States, and unless so registered, and may not be issued 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, 1933 and m accordance with any applicable U.S. State Securities laws. The Equity Shares are being issued and sold outside the United Stares in "offshore transactions" in reliance on Regulation "S" under the Securities Act, 1933 and the applicable laws of each jurisdiction where such issues where such issues and sales are made. There will be no public offering in the United States.
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