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Maheshwari Logistics Limited IPO Basis of Allotment

MAHESHWARI LOGISTICS LIMITED

Our Company was originally incorporated as "Maheshwari Logistics Private Limited" at Vapi, Gujarat as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated October 12,2006 bearing Corporate Identification Number U60232GJ2006PTC049224 and registration number 049224 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, our Company was converted into Public Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on December 01,2016 and the name of our Company was changed to Maheshwari Logistics Limited and a fresh Certificate of Incorporation consequent upon Conversion from Private Company to Public Company dated December 05,2016 was issued by the Registrar of Companies, Gujarat. The Corporate Identification Number of our Company is U60232GJ2006PLC049224. For details of Incorporation, Change of Name and Registered Office of our Company, please refer to chapter titled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 70 and 194 respectively of the Prospectus.

Registered Office: MLL House, Shed No.A2-3/2, Opp. UPL, 1st Phase, GIDC, Vapi, Valsad-396195 Gujarat, India
Tel No.: +91 260-2431024; Fax No.: +91260-2427024; E-mail: investors@mlpl.biz; Website: www.mlpl.biz
Corporate Identification Number: U60232GJ2006PLC049224; Contact Person: Shweta Jhawar, Company Secretary and Compliance Officer
PROMOTERS OF OUR COMPANY: VINAY MAHESHWARI, VARUN KABRA & MUKTA MAHESHWARI

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 39,96,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF MAHESHWARI LOGISTICS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 68/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 58/- PER EQUITY SHARE (THE "ISSUE PRICE"), AGGREGATING RS. 2717.28 LAKHS ("THE ISSUE"), OF WHICH 2,04,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 68/- PER EQUITY SHARE, AGGREGATING RS. 138.72 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 37,92,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 68/- PER EQUITY SHARE, AGGREGATING RS. 2,578.56 LAKHS IS HEREINAFTER REFERED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.00% AND 25.62% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated December 23,2016 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein

(a) minimum of 50% of the Net Offer to Public shall initially be made available to Retail Individual Investors.

(b) the balance net offer of shares to the public shall be made available for allotment to

(i) individual applicants other than retail investors and

(ii) other investors including corporate bodies/ institutions irrespective of no. of shares applied for.

(c) the unsubscribed portion of the net offer to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required.

Explanation: for the purpose of Regulation 43(4) of SEBI (ICDR) Regulations, 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage. All Investors have participated in this offer through ASBA process. For details in this regards, specific attention is invited to chapter "Issue Procedure" on page 365 of the Prospectus.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH & THE ISSUE PRICE OF RS. 68 IS 6.8 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.
ISSUE OPENED ON DECEMBER 30, 2016 AND CLOSED ON JANUARY 06,2017.

The Equity Shares offered through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ("NSE EMERGE"). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, our Company has received an approval letter dated December 21,2016 from National Stock Exchange of India Limited for using its name in the offer Document for listing of our Shares on EMERGE Platform of National Stock Exchange of India Limited. The designated stock exchange is EMERGE Platform of the National Stock Exchange of India Limited ("NSE EMERGE")

SUBSCRIPTION DETAILS

The Issue has received 4,832 applications for 1,81,24,000 Equity shares (Before Technical Rejections, Bids not Banked and Invalid Duplicate Bids) (including Market Maker Application of 2,04,000 Equity Shares) resulting 4.53 times subscription. After considering, Technical Rejection cases, Bids not Banked and invalid Duplicate Bids) the issue was subscribed 4.37 times (including the Market Maker Portion).
The details of application received (Before Technical Rejection)

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION
Market Maker 1 2,04,000 1.00
Other than Retail Individual Investors' 352 86,52,000 4.56
Retail Individual Investors' 4,423 88,46,000 4.67
TOTAL 4,776 1,77,02,000 4.43

The details of applications rejected by the Registrar on technical grounds are detailed below:

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
Market Maker 0 0
Other than Retail Individual Investors' 10 82,000
Retail Individual Investors' 77 1,54,000
TOTAL 87 2,36,000

Detail of the Applications Received (After Technical Rejection):

CATEGORY NUMBER OF
APPLICATIONS
NUMBER OF
EQUITY SHARES
SUBSCRIPTION REVISED
SUBSCRIPTION
Market Maker 1 2,04,000 1.00 1.00
Other than Retail Individual Investors' 342 85,70,000 4.56 4.55
Retail Individual Investors' 4,346 86,92,000 4.67 4.55
TOTAL 4,689 1,74,66,000 4.43 4.37

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange- National Stock Exchange of India Limited on January 11,2017.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 68/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 2,04,000 Equity Shares in full out of reserved portion of 2,04,000 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. 68/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 4.55 times. Total number of shares allotted in this category is 19,10,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. of Applications received % to
total
Total No. of Equity Shares applied % to
total
Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to the Applicants Total No. of Equity Shares allotted Surplus/ (Deficit)
2,000 4,346 100 86,92,000 100 19,10,000 2,000 2,000 20:91 19,10,000 0

C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of Rs 68/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 4.55 times. Total number of shares allotted in this category is 18,82,000 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise) No. Of Applications received % to
total
Total No. of Equity Shares applied % to
total
Proportionate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to the Applicants Total No. of Equity Shares allotted Surplus/ (Deficit)
4,000 88 25.73 3,52,000 4.11 77,300 878.41 2,000 39:88 78,000 700
6,000 46 13.45 2,76,000 3.22 60,611 1,317.62 2,000 15:23 60,000 (611)
8,000 25 7.31 2,00,000 2.33 43,921 1,756.83 2,000 22:25 44,000 79
10,000 53 15.50 5,30,000 6.18 1,16,390 2,196.03 2,000 1:1 1,06,000 (10,390)
12,000 18 5.26 2,16,000 2.52 47,434 2,635.24 2,000 1:1 36,000 (11,434)
12,000 2,000 6:18 12,000 12,000
14,000 12 3.51 1,68,000 1.96 36,893 3,074.45 4,000 1:1 48,000 11,107
16,000 7 2.05 1,12,000 1.31 24,596 3,513.65 4,000 1:1 28,000 3,404
18,000 7 2.05 1,26,000 1.47 27,670 3,952.86 4,000 1:1 28,000 330
20,000 21 6.14 4,20,000 4.90 92,233 4,392.07 4,000 1:1 84,000 (8,233)
22,000 5 1.46 1,10,000 1.28 24,156 4,831.27 4,000 1:1 20,000 (4,156)
22,000 2,000 4,000 4,000
24,000 5 1.46 1,20,000 1.40 26,352 5,270.48 6,000 1:1 30,000 3,648
28,000 2 0.58 56,000 0.65 12,298 6,148.89 6,000 1:1 12,000 (298)
30,000 7 2.05 2,10,000 2.45 46,117 6,588.10 6,000 1:1 42,000 (4,117)
34,000 1 0.29 34,000 0.40 7,467 7,466.51 8,000 1:1 8,000 533
36,000 4 1.17 1,44,000 1.68 31,623 7,905.72 8,000 1:1 32,000 377
38,000 1 0.29 38,000 0.44 8,345 8,344.92 8,000 1:1 8,000 (345)
40,000 13 3.80 5,20,000 6.07 1,14,194 8,784.13 8,000 1:1 1,04,000 (10,194)
40,000 2,000 5:13 10,000 10,000
42,000 1 0.29 42,000 0.49 9,223 9,223.34 10,000 1:1 10,000 777
46,000 1 0.29 46,000 0.54 10,102 10,101.75 10,000 1:1 10,000 (102)
50,000 7 2.05 3,50,000 4.08 76,861 10,980.16 10,000 1:1 70,000 (6,861)
50,000 2,000 8,000 8,000
60,000 1 0.29 60,000 0.70 13,176 13,176.20 14,000 1:1 14,000 824
70,000 2 0.58 1,40,000 1.63 30,744 15,372.23 16,000 1:1 32,000 1,256
74,000 3 0.88 2,22,000 2.59 48,752 16,250.64 16,000 1:1 48,000 (752)
80,000 1 0.29 80,000 0.93 17,568 17,568.26 18,000 1:1 18,000 432
1,00,000 4 1.17 4,00,000 4.67 87,841 21,960.33 22,000 1:1 88,000 159
1,46,000 1 0.29 1,46,000 1.70 32,062 32,062.08 32,000 1:1 32,000 (62)
2,00,000 3 0.88 6,00,000 7.00 1,31,762 43,920.65 44,000 1:1 1,32,000 238
2,08,000 1 0.29 2,08,000 2.43 45,677 45,677.48 46,000 1:1 46,000 323
4,40,000 1 0.29 4,40,000 5.13 96,625 96,625.44 96,000 1:1 96,000 (625)
22,04,000 1 0.29 22,04,000 25.72 4,84,007 484,005.60 4,84,000 1:1 4,84,000 (7)

The Board of Directors of the Company at its meeting held on January 12,2017 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. National Stock Exchange of India Limited and authorized corporate action for allotment of shares in dematerialized form to various successful applicants.
The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on or before January 16,2017. Further, the instructions to SCSBs shall be issued on January 12, 2017 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 registrarto the Issue at the address given below. The Company is taking steps to get the Equity Shares admitted for trading on the EMERGE Platform of National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before January 16,2017 subject to receipt of listing and trading approval from National Stock Exchange of India Limited.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrarto the Issue at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:

BIGSHARE SERVICES PRIVATE LIMITED
E/2, Ansa Industrial Estate, Saki Vlhar Road, Sakinaka, Andheri (East), Mumbai 400 072.
Tel.: +91-22-4043 0200; Fax: +91-22-2847 5207; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Mr. Babu Raphael; SEBI Registration No: INR000001385

Date: January 12,2017
Place: Vapi, Gujarat
For MAHESHWARI LOGISTICS LIMITED
On behalf of the Board of Directors
Sd/-
Varan Kabra
Managing Director


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