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May 2, 2016 - May 11, 2016

Darshan Orna IPO Basis of Allotment

DARSHAN ORNA LIMITED

(CIN: U36910GJ2011PLC06374S)

Out Company was originally incorporated at Ahmedabad as 'Darshan Orna Private Limited' on 20th January, 2011 under the provisions of the Companies Act. 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Our Company was converted in to a Public Limited Company and consequently the name was changed to 'Darenan Orna Limited' vide fresh certificate of incorporation dated 29th May, 2015 issued by the Registrar of Companies. Gujarat, Dadra and Nagar Havelli. For details of the changes in our name and registered office, please refer to the chapter titled 'History and Corporate Structure' beginning on page 104 of the Prospectus.

Registered Office: 2018/1. First Floor, Nr Rupa Surchand Nl Pole, M.G, Haveli Road, Manek Chowk. Ahmedabad. Gujarat - 380 001. India
Tel. No.: +91 792214 2568; Email: info@darshanorna.com Website: www.darshanorna.com
Contact Person: Mrs. Nidhi Jain, Company Secretary & Compliance Officer

PROMOTERS OF OUR COMPANY: MR. MAHENDRAKUMAR R. SHAH AND MRS. ARUNABEN M. SHAH

BASIS OF ALLOTMENT

PUBLIC OFFER OF 12.56,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH ('EQUITY SHARES') OF DARSHAN ORNA LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE RS 60/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 50/- PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 753.60 LAKHS ('THE ISSUE'), OF WHICH 64,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FOR A CASH PRICE OF RS 60/- PER EQUITY SHARE, AGGREGATING TO RS 38.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 11,92,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH AT AN ISSUE PRICE OF RS 60.00 PER EQUITY SHARE AGGREGATING TO RS 715.20 LAKHS (IS HEREINAFTER REFERREDTO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.36% AND 25.02%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE *SE8I REGULATIONS'), OUT OF THE NET ISSUE OF 11,92.000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVALABLE TO RETAIL INDIVIDUAL INVESTORS AND THE REMAINING TO INDIVIDUAL APPLICANTS OTHER THAN RETAIL INVESTORS AND OTHER INVETORS INCLUDING CORPORATE BODIES OR INSTITUTIONS IRRESPECTIVE OF THE NUMBER OF SHARES APPLIED FOR. IF THE RETAIL INDIVIDUAL INVESTOR CATEGORY IS ENTITLED TO MORE THAN 50% ON PROPORATIONATE BASIS, THEY SHALL BE ALLOTTED THAT HIGHER PERCENTAGE.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH AND
THE OFFER PRICE OF RS 60/- I.E. 6 TIMES OF THE FACE VALUE.

ISSUE OPENED ON: MONDAY, MAY 02, 2016 AND ISSUE CLOSED ON: WEDNESDAY, MAY 11, 2016
PROPOSED LISTING: THURSDAY, MAY 19, 2016

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ('BSE) in terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended, the Company is not required to obtain an in-principle listing approval for the shares being offered in this Offer However, the Company has received an in-principle approval letter dated Aprl 01.2016 from BSE for using its name in the offer document for listing of its shares on the SME Platform of BSE. For the purpose of this Offer, the Designated Stock Exchange will be BSE Limited The trading is proposed to be commenced with effect from Thursday, May 19,2016.*

'Subject to receipt of listing and trading approvals from BSE Limited.

All Applicants were allowed to participate in the issue only through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 481 applications for 14,24,000 Equity Shares resulting in 1.1338 times subscription (including reserved portion of Market Maker) The details of the applications received in the issue (before and after technical rejections) are as follows:
Details of the Applications Received:

CATEGORY Before Technical Rejection After Technical Rejection
No.of Applications No.of Equity Shares No.of Applications No. of Equity Shares
Retail Individual Applicant 445 8,90,000 427 8,54,000
Other than Retail Individual Investors 35 4.70,000 35 4,70,000
Market Maker 1 64,000 1 64,000
Total 481 1,424.000 463 1,388,000

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on Friday, May 13,2016.
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker at the issue price of Rs 60/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 64,000 Equity Shares.
B. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 60/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1,10 times. The total number of shares allotted In this category is 770,000 Equity Shares to 427 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

No.of
shares
applied for
(category wise)
No.of applicat
ions received
% To Total Total No.of shares applied in each category % To Total Proportionate shares
avallable
Allocation per
Applicant (before
rounding off)
Allocation per  Applicant
(after rounding off)
Ratio of
allotiees to applicants RATI01
Ratio of allotiees to applicants:
RATIO 2
Number of successful applicant
(after rounding off)
Total no of Shares Allocated/
allotted
No.of Shares Surplus/ Deficit
2,000 427 100.00 8,54.000 100.00 7,70,000 1,803.28 2,000 55 61 385 7.70.000 0
Total 427 100.00 8,54,000 100.00 7,70,000 1,803 28 2,000 55 61 385 7,70.000 0

C. Allocation to Other than Retail individual Investors (After Technical Rejections & Withdrawal):
The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 60/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.11 times. The total number of shares allotted In this category is 422.000 Equity Shams to 35 successful applicants.
The Category- wise details of the Basis of Allotment are as under;

No.of
shares
applied for
(category wise)
No.of applicat
ions received
% To Total Total No.of shares applied in each category % To Total Proportionate shares
avallable
Allocation per
Applicant (before
rounding off)
Allocation per  Applicant
(after rounding off)
Ratio of
allotiees to applicants RATI01
Ratio of allotiees to applicants:
RATIO 2
Number of successful applicant
(after rounding off)
Total no of Shares Allocated/
allotted
No.of Shares Surplus/ Deficit
4,000 16 45.71 64.000 13.62 57.464 3,591.49 4 000 1 1 16 64.000 -6536
8,000 2 5.71 16.000 3.40 14.366 7,182.98 6,000 1 1 2 12.000 2366
2.000 1 2 1 2.000 -2000
10,000 3 8,57 30.000 6.38 26.936 8,978.72 8.000 1 1 3 24.000 2936
12,000 1 2.86 12.000 2.55 10,774 10.774.47 10.000 1 1 1 10.000 774
14,000 1 2.86 14.000 2.98 12.570 12.570.21 12.000 1 1 1 12.000 570
16,000 4 11.43 64.000 13.62 57.464 14.365.96 14.000 1 1 4 56.000 1464
18,000 1 2.86 18.000 3.83 16.162 16.161.70 16.000 1 1 1 16.000 162
20.000 2 5.71 40.000 8.51 35.915 17.957.45 18.000 1 1 2 36.000 -85
22.000 1 2.86 22.000 4.68 19.753 19.753.19 20.000 1 1 1 20.000 -247
24,000 1 2.86 24,000 5.11 21.549 21.548.94 22.000 1 1 1 22.000 -451
32.000 1   2.86 32,000 6.81   28,732 28.731.91   28 000 1 1 1 28.000 732
66,000 1 2.86 66.000 14.04 59.260 59.259.57 60.000 1 1 1 60.000 -740
Total 35 100 4.70,000 100 4.22,000 35 4,22,000 0

The Board of Directors of the Company at its meeting hold on 16th May. 2016 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz BSE Lid and has authorized the corporate action for the transfer of the Equity Shares to various successful applicants.
The CAN and allotment advice and/ or notices have been dispatched to the address of the Applicants as registered with the depositories. Further, the instructions to SCSBs have been issued on May 13,2016 for unblocking of funds. 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, Investors may contact the registrar to the Issue at the address given below. The Coirpany is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE within Six working days from the date of closure of the Issue. The trading is proposed to commence on or before May 19, 2016 subject to receipt of listing and trading approvals from BSE.
Note: All capitalized lerms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated April 18, 2016 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the lssue, KARVY COMPUTERSHARE PRIVATE LIMITED at   www.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 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:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli. Financial District,
Nanakramguda.Hyderabad-500032.India
Tel: l-800-34540001/+9l4067162222; Fax:+914023431551
E-mail: einward.ris@karvy.com; Investor Grievance Email: darshanoma.ipo@karvy.com
Website: www.karisma.karvy.com  Contact Person: Mr. M Mureli Krishna
SEBI Registration No.: INR000000221

Date  : May 16,2016
Place :  Ahmedabad

For DARSHAN ORNA LIMITED
On behalf of the Board of Directors
Sd/-
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 DARSHAN ORNA LIMITED.

Darshan Orna IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Darshan Orna IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The Darshan Orna IPO basis of allotment (published above) tells you how shares are allocated to you in Darshan Orna IPO and category wise demand of IPO share.

Visit the Darshan Orna IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Darshan Orna IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).