Dhruv Consultancy IPO Basis of Allotment

DHRUV CONSULTANCY SERVICES LIMITED
Corporate Identity Number: U74999MH2003PLC141887

Our Company was originally incorporated as Dhruv Consultancy Services Private Limited on August 26, 2003 with the Assistant Registrar of Companies, Maharashtra, Mumbai, under the provisions of Companies Act, 1956. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at the extraordinary general meeting held on January 10, 2018 and the name of our Company was changed to 'Dhruv Consultancy Services Limited'. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the Registrar of Companies, Mumbai on February 07, 2018. For further details of our Company, please refer 'General Information' and 'History and Certain Other Corporate Matters' on page numbers 42 and 97, respectively, of the Prospectus.

Registered Office: 501, Pujit Plaza, Palm Beach Road, Sector -11, Opp. K-Star Hotel, Near CBD Station, CBD Belapur, Navi Mumbai-400614, Maharashtra
Tele Fax: + 91 22 27570710 | E-mail: cs@dhruvconsultancy.in | Website: www.dhruvconsultancy.in
Contact Person: Isha S. Kulkarni, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: MR. PANDURANG B. DANDAWATE AND JAYASHREE R DANDAWATE

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 42,96,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE 'EQUITY SHARES') OF DHRUV CONSULTANCY SERVICES LIMITED ('OUR COMPANY' OR 'DCSL' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 54.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 44.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 2319.84 LAKHS ('THE ISSUE') OF WHICH 2,24,000 EQUITY SHARES AGGREGATING TO RS 120.96 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 40,72,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH AT AN ISSUE PRICE OF RS 54.00 PER EQUITY SHARE AGGREGATING TO RS 2198.88 LAKHS IS HEREIN AFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.05% AND 28.48%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER 'TERMS OF THE ISSUE' ON PAGE 174 OF THE PROSPECTUS.

THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 (THE 'SEBI (ICDR) REGULATIONS'), AS AMENDED. IN TERMS OF RULE 19(2)(b)(i) OF THE SECURITIES CONTRACTS (REGULATION) RULES, 1957, AS AMENDED, THIS IS AN ISSUE FOR AT LEAST 25% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. HIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER 'ISSUE PROCEDURE' ON PAGE 182 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10.00 EACH AND
THE ISSUE PRICE OF RS 54.00 IS 5.4 TIMES OF THE FACE VALUE.

ISSUE OPENED ON TUESDAY, FRIDAY, APRIL 27, 2018 AND CLOSED ON WEDNESDAY, MAY 02, 2018
PROPOSED LISTING: MAY 10, 2018*

The Equity Shares offered through this Prospectus are proposed to be listed on the SME Platform of BSE Limited in terms of the Chapter XB of the SEBI (ICDR) Regulations, as amended from time to time. Our Company has received an approval letter dated March 14, 2018 from BSE Limited ('BSE') for using its name in the Offer Document for listing of our shares on the SME Platform of BSE Limited. For the purpose of this Issue, the Designated Stock Exchange will be the BSE.

The trading is proposed to be commenced on or about May 10, 2018.*

*Subject to receipt of listing and trading approvals from BSE.

All Applicants were allowed to participate in the issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details 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 2,895 applications for 1,09,20,000 Equity Shares resulting in 2.5419 times subscription (including reserved portion of market maker). The details of the applications received in the issue (before technical & multiple rejections) are as follows:

Detail of the Applications Received (Before Technical & Multiple Rejection):

The details of applications rejected by the Registrar on technical grounds (including bids not banked) are detailed below:

After eliminating technically rejected applications, the following tables give us category wise net valid applications:

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on May 07, 2018.

A. Allocation to Market Maker (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 54 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 2,24,000 Equity shares.

The category wise details of the Basis of Allotment are as under:

B. Allocation to Retail Individual Investors (After Technical & Multiple Rejections and Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 54 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.4136 times i.e. for 49,14,000 Equity Shares. Total number of shares allotted in this category is 20,36,000 Equity Shares to 1,018 successful applicants.

The category wise details of the Basis of Allotment are as under:

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 54 per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 2.4902 times i.e. for 50,70,000 shares. Total number of shares allotted in this category is 20,36,000 Equity Shares to 160 successful applicants.

The category wise details of the Basis of Allotment are as under: (SAMPLE)

The Board of Directors of the Company at its meeting held on May 07, 2018 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.

The CAN-cum-Refund advices and allotment advice and/or notices will be forwarded to the address of the Applicants as registered with the depositories / as filled in the application form on or before May 08, 2018. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or about May 07, 2018. 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 depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within six working days from the date of the closure of the Issue.

Note: Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated April 20, 2018 ('Prospectus').

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, Link Intime India Private Limited at www.linkintime.co.in. 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:

LINK INTIME INDIA PRIVATE LIMITED

C-101,1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai 400 083
Tel: +91-22 49186200 | Fax: +91-22 49186195
E-mail: dcsl.ipo@linktime.co.in | Investor Grievance Email: dcsl.ipo@linktime.co.in
Website: www.linkintime.co.in | Contact Person: Ms. Shanti Gopalakrishnan
SEBI Registration No.: INR000004058