SANGAM ADVISORS LIMITED
Our Company was originally incorporated with the Registrar of Companies, Mumbai, Maharashtra, on June 22,1999 as Sangam Advisors Private Limited. Pursuant to shareholders Resolution dated November 15,2011 the Company was converted into Public Limited Company and the name was changed to Sangam Advisors Limited. For details of the changes in our name and Registered Office, refer "History and Certain Corporate Matters" on pagel 05 of the Prospectus.
Registered Office: 33/34,3rd Floor, Printing Mouse, 28 - D, Police Court Lane, Behind Old Handloom House, Fort, Mumbai - 400 001.
Tel: +91 -22-22621318; Fax: +91 -22-22621318; Email: firstname.lastname@example.org;
Contact Parson: Mr. Suraj Gulgulia, Compliance Officer
Our Promoter: Giza Estates Private Limited
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 23,04,000 EQUITY SHARES OF Rs. 10/- EACH ("EQUITY SHARES") OF SANGAM ADVISORS LTD ("SAL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 22/- PER SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 506.88 LACS ("THE ISSUE"), OF WHICH 3,42,000 EQUITY SHARES OF Rs.10 EACH WILL BE RESERVEO FOR SUBSCRIPTION BY MARKET MAKERS TO THE ISSUE (AS DEFINED IN THE PROSPECTUS) (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 19,62,000 EQUITY SHARES OF Rs.10/- EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 37.75% AND 32.15% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. THIS BEING A FIXED PRICE, AS PER SUB CLAUSE (4) OF REGULATION 43 OF THE SEBI (ICDR) REGULATIONS, 2009 AS AMENDED (THE "SEBI REGULATIONS"), OUT OF THE NET OFFER OF 19,62,000 EQUITY SHARES, NOT LESS THAN 50% SHALL BE AVAILABLE 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.
This being a Fixed Price Issue, the allocation In the Net Offer to the Public category shall be made as Reg. 43(4) of the SEBI (ICDR) Regulations, 2009, as amended from time to time.
THE FACE VALUE OF OUR EQUITY SHARES IS Rs. 10/- EACH. THE ISSUE PRICE OF EQUITY SHARES IS Rs. 22 EACH AND THE ISSUE PRICE IS 2.2 TIMES OF THE FACE VALUE. ISSUE OPENED ON JULY 24,2012 AND CLOSED ON JULY 26, 2012.
The Equity Shares of the Company 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 from time to time, we are not required to obtain an in-principle listing
approval from BSE. However, our Company has received an approval via letter dated July 9,
2012 from BSE for using its name in the offer document for listing of our shares on the
SME Platform of BSE. BSE shall be the Designated Stock Exchange for the purpose of
this Issue. The trading is proposed to be commenced with effect from August 9,2012.*
This being a Fixed Price Issue, the allocation in the Net Offer to the Public category shall be made as Reg. 43(4) of the SEBI (ICDR) Regulations," 2009, as amended from time to time, wherein a minimum of 50%: of the Net Offer of shares to the Public shall initially be made available for allotment to Retail individual investors. The balance Net Offer of Shares to the public shall be made available for allotment to individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. The unsubscribed portion of the Net Offer to any one of the categories specified above shall/may be made available for allocation to Applicants in the other category, if so required. All Applicants were allowed to participate in the Issue 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").
The Issue has received 199 applications for 35,22,000 Equity Shares resulting in 1.53 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)
In the event of oversubscription, the allotment will be made on a proportionate basis in marketable lots. An oversubscription to the extent of 10% of the issue can be retained for the purpose of rounding off while finalizing the Basis of Allotment to the nearest integer during finalizing the allotment, subject to minimum allotment lot. Accordingly oversubscription of 12,000 Equity Shares has been retained for the purpose of rounding off to the lower nearest multiple of 6,000 equity shares resulting in increase in the Issue Size to 23,16,000 Equity Shares aggregating to 509.52 Lacs.
The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - BSE Limited on August 03,2012.
A) Allocation to Marker Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the Issue price of Rs. 22/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 3,42,000 Equity Shares. The category-wise details of the Basis of Allotment are as under:
B) Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 22/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 1.06 times. The total number of shares allotted in this category is 9,84,000 Equity Shares consisting 9,81,000 Equity Shares reserved for allocation to Retail Individual Investors Category and additional of 3,000 Equity Shares for the purpose of rounding off to the nearest multiple of 6,000 Equity Shares (Lot Size). The category-wise details of the Basis of Allotment are as under:
C) Allocation to Non Institutional Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs. 22/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 2.08 times. The total number of shares allotted in this category is 9,90,000 Equity Shares consisting 9,81,000 Equity Shares reserved for allocation to Non Institutional Investors Category and additional of 9,000 Equity Shares for the purpose of rounding off to the nearest multiple of 6,000 Equity Shares (Lot Size). The category-wise details of the Basis of Allotment are as under:
The Board of Directors of the Company at Its meeting held on August 04,2012 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.
In case the same is not received within ten days, Investors may contact at the address given below. The Refund Advices are accompanied with Demand Drafts which have been over-printed with the bank account details as registered, if any, with the depositories. The equity shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company Is taking steps to get the equity shares admitted for trading on the SME Platform of BSE within 12 working days of the Closure of the Issue.
The CAN-cum-Refund Advices and allotment advice and/ or notices have been dispatched to the address of the investors as registered with the depositories. Refunds have been made through ECS, Direct Credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address as registered with the depositories. In case the same is not received within ten working days, investors may contact at the address given below. The Equity Shares allotted to successful applicants have been 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 12 working days from 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 July 12, 2012 ("Prospectus").
INVESTORS PLEASE NOTE
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 Application Form, number of shares applied for and Bank Branch where the Application had been lodged and payment details at the address given below:
Purva Sharegistry (India) Private Limited
LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTUS OF SANGAM ADVISORS LIMITED.
SANGAM ADVISORS LIMITED is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed the Prospectus with the Registrar of Companies, Mumbai Maharashtra. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Lead Manager at www.afsl.co.in and the website of BSE at www.bseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see section titled "Risk Factors" on page 12 of the Prospectus. This document is not an offer of securities for sale in the United States or elsewhere. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act1) or any state securities laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
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