AVG Logistics IPO Basis of Allotment

AVG LOGISTICS LIMITED
Corporate Identity Number: U60200DL2010PLC198327.

Our Company was originally incorporated as a private limited company, at Delhi, India under the erstwhile Companies Act, 1956 in the name of AVG Logistics Private Limited by way of Certificate of Incorporation dated January 25, 2010. Further, pursuant to conversion of our Company to a public limited company, a fresh certificate of incorporation was issued by Registrar of Companies, Delhi on February 21, 2018. For details of changes in name and registered offices of our Company, please refer to the section titled 'History and Certain Corporate matters' beginning on page 115 of the Prospectus.

Registered Office: Shop No. 25, DDA Market, Savita Vihar, Delhi 110092, India. Tel. No.: +91 11 45674071;
Corporate Office: 102,1st Floor (above State Bank of India), Jhilmil Metro Station Complex, Delhi 110095, India; Telephone: +91-11-22124356; Facsimile: +91-11-22124356;
E-mail: compliances@avglogistics.com; Website: www.avglogistics.com Contact Person: Ms. Parul Jain, Company Secretary & Compliance Officer

RISK TO INVESTORS

1. The BRLM associated with the Issue has handled 3 Public Issues in the past 3 years out of which no issue has been closed below Issue Price.

2. The Price/earning Ratio ('P/E Ratio') based on the EPS as adjusted for Fiscal 2017 for the company at the upper end of the price band is as high as 17.40 as compared to the average industry P/E Ratio of 45.07.

3. The average cost of acquisition of equity shares for the promoter Sanjay Gupta, Asha Gupta and Niti Gupta is5.88,6.05 and 6.95 respectively.

BID/ISSUE PROGRAMME:
BID/ISSUE OPENED ON WEDNESDAY, MARCH 28,2018
BID/ISSUE CLOSED ON TUESDAY, APRIL 03,2018
ANCHOR INVESTOR BID/ISSUE PERIOD: TUESDAY, MARCH 27, 2018
PROPOSED LISTING: WEDNESDAY, APRIL 11,2018*

In terms of Rule 19(2)(b)(l) of the Securities Contracts (Regulation) Rules, 1957, as amended (the 'SCRR') this was an Issue for at least 25% of the post-Issue paid-up Equity Share capital of our Company. The Issue was made through the Book Building Process, in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended the ('SEBI ICDR Regulations') wherein 50.00% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (the 'QIB Portion'). Our Company has allotted 63.70% of the QIB portion to the Anchor Investor. The original allocation reserved for Anchor Investor was of 8,79,600 Equity Shares aggregating to 59.93% of the QIB Portion. However in order to meet the requirement of Schedule XI of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009, the allocation size and consequently the allotment has been enhanced to 9,34,800 Equity Shares aggregating to 63.70% of the QIB Portion. The said modifications have been done in consultation with National Stock Exchange of India Limited. One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 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 (excluding Anchor Investor Portion) was available for allocation on a proportionate basis to QIB including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was available for allocation to Retail Individual Bidders, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders, other than Anchor Investors, were mandatorily required to participate in the Offer through the Application Supported by Blocked Amount ('ASBA') process by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (the 'SCSBs'). For details, see 'Issue Procedure' on page 184 of the Prospectus.
THIS WAS AN ISSUE BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED FROM TIME TO TIME ('SEBI (ICDR) REGULATIONS') READ WITH RULE 19(2)(b)(l) OF SECURITIES CONTRACT (REGULATION) ACT, 1957 ('SCRR'). FOR FURTHER DETAILS PLEASE REFER THE SECTION TITLED 'ISSUE INFORMATION' BEGINNING ON PAGE 172 OFTHE PROSPECTUS.

The Equity Shares of the Company offered through the Prospectus are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited. In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time, the Company has received an in-principal approval letter dated March 13,2018 from National Stock Exchange of India Limited for using its name in the Issue Document for listing of its shares on EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this Issue, EMERGE Platform of National Stock Exchange of India Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Issue has received 1397 bids for 65,80,800 Equity shares (Before Technical Rejections, Multiple Rejections, bids not banked and invalid duplicate bids) including Market Maker Bid of 1,54,800 Equity Shares and Anchor Investor Bid of 934800 Equity Shares. The issue was subscribed to the extent of 2.62 times as per the bid data (excluding Anchor Investor Portion and after removing multiple and duplicate bids). After removing multiple and duplicate bids and technical rejections cases, the issue was subscribed 2.49 times.

The details of application received (Before Technical Rejection and Multiple Rejections but after bids not banked and invalid duplicate bids)

Final Demand

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

a) Retail Individual Bidders-

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - EMERGE Platform of the National Stock Exchange of India Limited on April 10, 2018.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the Issue price of Rs. 107/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,54,800 Equity Shares in full out of reserved person of 1,54,800 Equity shares.

B. Allocation to Retail Individual Bidders (After Technical Rejections): The Basis of Allotment to the Retail Individual Bidders, at the Issue price of Rs. 107/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.3586 times. The total number of shares allotted in this category is 10,27,200 Equity Shares. The Category-wise details of the Basis of Allotment are as under:

C. Allocation to Non Institutional Bidders (After Technical Rejections): The Basis of Allotment to Non Institutional Bidders, at the Issue price of Rs. 107/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 7.0218 times. The total number of shares allotted in this category is 440400 Equity Shares. The Category-wise details of the Basis of Allotment are as under:

D. Allocation to QIBs (Excluding Anchor Investors and After Technical Rejections): Qualified Institutional Investor (Excluding Anchor Investors), at the issue price of Rs. 107/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.3423 times. As per the SEBI regulations, Mutual Funds were allotted 5% of the Equity Shares of QIB Category (excluding anchor investors) available i.e. 27600 Equity Shares and other QIBs and unsatisfied demand from Mutual Funds were allotted the remaining available Equity Shares i.e.505200 Equity Shares on a proportionate basis. Total number of shares allotted in this category is 532800 Equity Shares, which were allotted to 04 successful QIB bidders.

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

E. Allocation to Anchor Investors: Our Company in consultation with the BRLM have allocated 934,800 Equity Shares to 1 Anchor Investor (through 1 application) at the Anchor Investor Issue Price of Rs. 107/- per Equity Share in accordance with SEBI ICDR Regulations. This represents 63.70% of the QIB Portion after adjusting Lotsize:

The Board of Directors of the Company at its meeting held on April 10, 2018 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 has authorized the corporate action for the transfer of the Equity Shares to various successful bidders. The Allotment cum refund advice and/or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to Self Certified Syndicate Banks shall be issued on to April 10, 2018 for unblocking of funds. In case the same is not received within four working days, investors may contact Registrar at the address given below. The Equity Shares allocated to successful bidders 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 Emerge Platform of NSE within six working days from the date of the closure of the Issue.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus.

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, LINKINTIME 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 bidders, serial number of the Bid cum Application Form, number of shares applied for and Bank Branch where the bid had been lodged and payment details at the address of the Registrar given below:

LINKINTIME INDIA PRIVATE LIMITED
C-101, 247 Park, LBSMarg, Vikhrali West, Mumbai-400083, Maharashtra.
Tel: +91 224918 6200; Fax:+91 2249186195
Email: avglogistics.ipo@linkintime.co.in; Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration Number: INR000004058