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Tribhovandas Bhimji Zaveri Ltd IPO Basis of Allotment

  

(This is only an advertisement for information purposes and not for publication or distribution, directly or indirectly outside India, and is not a prospectus announcement)

Tribhovandas Bhimji Zaveri Limited

The Company was incorporated on July 24,2007 at Mumbai as a private limited company under the Companies Act, 1956. For details of changes in the name of the Company, see section titled "History and Certain Corporate Matters" on page 126 of the Prospectus.

Registered Office: 241/43, Zaveri Bazar, Mumbai 400 002, Tel: +91 22 3956 5001; Fax: +91 22 3956 5056
Corporate Office: 228, Ground Floor, Mittal Chambers, Nariman Point, Mumbai 400 021 Tel: +91 22 3073 5000; Fax: +91 22 3073, Contact Person: Niraj Oza, Company Secretary and Compliance officer, Email: investors@tbzoriginal.com ; Website: www.tbztheoriginal.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 16,666,667 EQUITY SHARES OF FACE VALUE OF Rs.10 EACH OF TRIBHOVANDAS BHIMJI ZAVERI LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs.120 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs.110 PER EQUITY SHARE) AGGREGATING TO Rs. 2,000 MILLION (THE "ISSUE"). THE ISSUE WILL CONSTITUTE 25% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.

THE FACE VALUE OF EQUITY SHARES IS Rs.10 EACH.
THE ISSUE PRICE IS Rs.120 PER EQUITY SHARE AND IS 12 TIMES THE FACE VALUE OF THE EQUITY SHARE.
PROMOTERS OF THE COMPANY: SHRIKANT ZAVERI, BINAISHA ZAVERI AND RAASHI ZAVERI

BID/ISSUE: OPENED ON APRIL 24,2012   ·CLOSED ON APRIL 26,2012

The Equity Shares of the Company are proposed to be listed on BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on or about May 9,2012.

This is an issue for 25% of the post-Issue capital. The Issue was made through the 100% Book Building Process wherein not more than 50% of the Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIB"). The Company allocated 30% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. The Issue received 7,252 applications for 19,474,470 equity shares resulting in 1.17 times subscription. The details of the applications received in the Issue from Anchor Investors. Qualified Institutional Buvers. Non-Institutional Investors and Retail Individual Investors are as under: (Before technical rejections).

Sr.# Category No. of Applications Received No. of Equity Shares No. of times subscribed
A Retail Individual Bidders 7,153 3,542,805 0.61
B Non Institutional Bidders 89 4,681,665 1.87
C Qualified Institutional Bidders 7 7,515,990 1.29
D Anchor Investors 3 3,734,010 1.49
Total 7,252 19,474,470 1.17

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/ Issue Closing Date at different bid prices is as under:

BID PRICE NO. OF SHARES % TO TOTAL CUMULATIVE TOTAL Cumulative % of Total
120 6,329,610 33.51 6,329,610 33.51
121 1,080 0.01 6,330,690 33.51
122 6,075 0.03 6,336,765 33.54
123 952,335 5.04 7,289,100 38.58
124 345,645 1.83 7,634,745 40.41
125 6,435 0.03 7,641,180 40.45
126 7,740,180 40.97 15,381,360 81.42
Cutoff 3,510,000 18.58 18,891,360 100
18,891,360 100 18,891,360

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on May 3,2012.

A. Allotment to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA")) (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or above the Issue Price of Rs.120/- per Equity Share was finalized in consultation with BSE. This category has been subscribed to the extent of 0.60 times and hence allotment was done on full and firm basis to all valid applicants. There were 2,902 applications for 1,114,605 Equity Shares made under ASBA process. Of these 2,858 applications for 1,088,055 Equity Shares were found valid and they were considered for allotment. The total number of shares allotted in Retail Individual Investor category is 3,476,385 Equity Shares which were allotted to 7,033 successful applicants.

B.Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at or above the Issue Price of Rs.120/- per Equity Share, was finalized on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 1.47 times and hence allotment was done on full and firm basis to all valid applicants. There were 89 applications for 4,681,665 Equity Shares made under ASBA process. Of these 86 applications for 4,662,990 Equity Shares were found valid and they were considered for allotment. The total number of shares allotted in Non Institutional Investor category is 3,174,293 Equity Shares which were allotted to 86 successful applicants including 674,292 with respect to undersubscription in retail category.

C. Allotment to QIBs
The Basis of Allotment to the Qualified Institutional Bidders, who have bid at or above the Issue price of Rs. 120/- per Equity Share was finalized in consultation with BSE. There were 7 applications for 7,515,990 Equity Shares made under the ASBA process. Of these 7 applications for 7,515,990 Equity Shares were found valid and they were considered for allotment. The total number of shares allotted in Qualified Institutional Investors category is 7,515,990 Equity Shares which were allotted to 7 successful applicants including 1,682,657 equity shares with respect to undersubscription in retail cateqory.

Category Flls MFs ICs Total
No. of equity Shares allocated 5,396,850 396,810 1,722,330 7,515,990

D. Allotment to Anchor Investors
The Basis of Allotment to the Anchor Investors, at the Issue Price of Rs.120/- per Equity Share was finalized in consultation with the Issuer and the Book Running Lead Managers. This category has been subscribed to the extent of 1.49 times and hence allotment was done on firm basis to all valid applicants. There were 3 applications for 3,734,010 Equity Shares made under Non- ASBA process. Of these 3 applications for 3,734,010 Equity Shares were found valid and they were considered for allotment. The total number of shares allotted in the Anchor Investor category is 2,499,999 Equity Shares which were allotted to 3 successful applicants.
The IPO Committee of the Board of Directors of the Company at its Meeting held at Mumbai on May 03,2012 has taken on record the basis of Allotment of Equity Shares of the Issue and has accordingly allotted the Equity Shares to the Bidders.
The CAN-cum-Refund Orders and allotment advice and/ or notices will be dispatched to the address of the Bidders as registered with the depositories on or prior to May 7,2012. In case the same is not received within 10 days, investors may contact the Registrar at the address given below. The instructions to Self Certified Syndicate Banks have been dispatched/mailed on May 4,2012. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories.

Commencement of Trading: The Equity Shares Allotted to the successful applicants are being credited to their beneficiary accounts on or prior to May 7,2012 subject to validation of the account details with the depositories concerned. The Company is taking steps for the completion of the necessary formalities to get the Equity Shares admitted for trading on BSE and NSE within 12 Working days from the Bid/Issue Closing Date.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated April 30,2012 filed with the Registrar of Companies.

INVESTORS PLEASE NOTE
This details of the Allotment made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, serial number of the Bid-cum-Application Form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the Bid was submitted and payment details at the address given below

KARVY COMPUTERSHARE PRIVATE LIMITED
Unit: Tribhovandas Bhimji Zaveri Limited
Fax: 040-23420814 Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER: 1-800-3454001

Place: Mumbai
Date : May 7,2012
For Tribhovandas Bhimji Zaveri Limited
Sd/-
Niraj Oza
Company Secretary

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 TRIBHOVANDAS BHIMJI ZAVERI LIMITED.

Tribhovandas Bhimji Zaveri Limited is proposing a public issue of its Equity Shares and has filed a Prospectus with the Registrar of Companies. The Prospectus is available on the website of SEBI i.e. www.sebi.gov.in, and on the websites of the Book Running Lead Managers (BRLMs) at www.idfccapital.com and www.avendus.com. Investors should note that investment in equity shares involves a high degree of risk and for details in relation to the same, see section titled "Risk Factors" included in the Prospectus. This material is not an offer or sale of securities. The Equity Shares have not been and will not be registered under the Securities Act of 1933 and were not offered or sold within the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Equity Shares were not offered or sold in the United States in the Issue."