AVSL Industries IPO Details

Issue Open Sep 15, 2016
Issue Close Sep 28, 2016
IPO Price ₹36
Face Value ₹10
IPO Size ₹5.18 Cr
Listing At NSE SME
IPO Lot Size 3000

AVSL INDUSTRIES LIMITED

CIN No.: U18101DL2003PLC121698

Our Company was incorporated as Udhav Fashion Apparels Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated August 08, 2003 in New Delhi. Subsequently, the name of our Company was changed to AVSL Industries Private Limited vide fresh certificate of incorporation dated October 07, 2008. Later, our Company was converted into public limited company pursuant to which the name of our Company was changed to "AVSL Industries Limited" vide fresh certificate of incorporation dated May 24, 2016. For further details, please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 127 of the Prospectus.

Registered Office: C-611-612, DSIDC Industrial Area, Narela, New Delhi-110040. | Tel. No.: +91 11 4561 1234. Corporate Office: Unit No. 1001, NDM-2, Wazirpur District Centre, Netaji Subhash Place, Pitampura, Delhi-110034. | Tel. No.: +91 11 45561232/33/34 Email: avsl pvc@yahoo.co.in, avsl pvc@avsl.co.in I Website: www.avsl.co.in I Contact Person and Promoter of our Company: Mr. Sanjay Bansal

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 14,40,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF AVSL INDUSTRIES LIMITED ("AVSL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS 36 PER EQUITY SHARE (THE "ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS 26 PER EQUITY SHARE AGGREGATING RS 518.40 LAKHS (THE "ISSUE") BY OUR COMPANY, OF WHICH 78,000 EQUITY SHARES OF RS 10 FULLY PAID UP EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. ISSUE OF 13,62,000 EQUITY SHARES OF RS 10 EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 27.01% OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THIS ISSUE IS BEING IN TERMS OF CHAPTER XB OF THE SEBI (ICDR) REGULATIONS, 2009 (AS AMENDED FROM TIME TO TIME). FOR FURTHER DETAILS PLEASE REFER TO "SECTION VII - ISSUE INFORMATION" BEGINNING ON PAGE 229 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 36. THE ISSUE PRICE IS 3.60 TIMES THE FACE VALUE. ISSUE OPENED ON: THURSDAY, SEPTEMBER 15, 2016 ISSUE CLOSED ON: WEDNESDAY, SEPTEMBER 28, 2016

PROPOSED LISTING: THURSDAY, OCTOBER 06, 2016

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ("NSE"). The Company has received an in-principle approval letter dated August 25,2016 from NSE for using its name in the offer document for listing of its shares on NSE Emerge Platform.

For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced with effect from Thursday, October 06,2016*

*Subject to receipt of listing and trading approvals from the National Stock Exchange of India Limited.

All Applicants participated 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").

SUBSCRIPTION DETAILS

The Issue has received 140 applications for 1596000 Equity Shares resulting in 1.11 times subscription (including reserved portion of Market Maker). The details of the applications received in the Issue (before technical rejections) are as follows:

Details of the Applications Received (Before Technical Rejection):

Category No.of Applicants % No.of Equity Shares % Subscription (Times)
Market Maker 1 0.71 78000 4.89 1.00
Retail Individual Investors 106 75.72 318000 19.92 0.47
Other than Retail Individual Investors 33 23.57 1200000 75.19 1.76
TOTAL 140 100.00 1596000 100.00 1.11

The details of applications rejected by the Registrar on technical grounds are detailed below: (Technical rejection)

Category No.of Applications No.of Equity Shares
Market Maker Nil Nil
Retail Individual Investors 7 21000
Other than Retail Individual Investors 1 27000
TOTAL 8 48000

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

Category No. of Applications % Issue Size (as per Prospectus) No. of Valid Shares applied Subscription (Times)
Market Maker 1 0.76 78000 78000 1.00
Retail Individual Investors 99 75.00 681000 297000 0.44
Other than Retail Individual Investors 32 24.24 681000 1173000 1.72
TOTAL 132 100.00 1440000 1548000 1.08

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on October 03,2016.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 36 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 78000 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 36 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.44 times. The total number of shares allotted in this category is 297000 Equity Shares to 99 successful applicants.

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

No. of shares applied
for (Category wise)
No. of applications received % to Total Total No.of
shares applied in each category
%to Total Proportionate shares available Allocation per Applicant
(before rounding off)
Allocation per
Applicant
(after rounding off)
Ratio of allottees to applicants:
RATI01
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant
(after rounding off)
Total no. of Shares
Allocated/ allotted
No. of Shares Surplus/ Deficit
3000 99 100.00 297000 100.00 681000 3000.00 3000.00 1 1 99 297000 384000
Total 99 100.00 297000 100.00 681000 99 297000 384000

C. Allocation to Other than Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs 36 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.72 times. The total number of shares allotted in this category is 1065000 Equity Shares to 32 successful applicants. Equity shares allotted in this category includes original reservation of 681000 equity shares and spill over from Retail Individual Investors Category of 384000 equity shares.

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

No. of shares applied
for (Category wise)
No. of applications received % to Total Total No.of
shares applied in each category
%to Total Proportionate shares available Allocation per Applicant
(before rounding off)
Allocation per
Applicant
(after rounding off)
Ratio of allottees to applicants:
RATI01
Ratio of allottees to applicants:
RATIO 2
Number of successful applicant
(after rounding off)
Total no. of Shares
Allocated/ allotted
No. of Shares Surplus/ Deficit
6000 4 12.50 24000 2.05 21790 5447.57 6000 1 1 4 24000 2210
9000 1 3.13 9000 0.77 8171 8171.36 9000 1 1 1 9000 829
15000 4 12.50 60000 5.12 54476 13618.93 12000 1 1 4 48000 -6476
15000 3000 6000 6000
27000 5 15.63 135000 11.51 122570 24514.07 24000 1 1 5 120000 -2570
30000 2 6.25 60000 5.12 54476 27237.85 27000 1 1 2 54000 -476
36000 1 3.13 36000 3.07 32685 32685.42 33000 1 1 1 33000 315
39000 1 3.13 39000 3.32 35409 35409.21 36000 1 1 1 36000 591
42000 1 3.13 42000 3.58 38133 38132.99 39000 1 1 1 39000 867
45000 1 3.13 45000 3.84 40857 40856.78 42000 1 1 1 42000 1143
54000 5 15.63 270000 23.02 245141 49028.13 48000 1 1 5 240000 -5141
54000 3000 1 3000 3000
57000 2 6.25 114000 9.72 103504 51751.92 51000 1 1 2 102000 -1504
63000 1 3.13 63000 5.37 57200 57199.49 57000 1 1 1 57000 -200
69000 4 12.50 276000 23.53 250588 62647.06 63000 1 1 4 252000 1412
Total 32 100.00 1173000 100.00 1065000 32 1065000 0

The Board of Directors of the Company at its meeting held on October 03,2016 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 applicants. The CAN and allotment advice and/or notices will be dispatched to the address of the Applicants as registered with the depositories on or before October 05,2016. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to October 04,2016. 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 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 NSE Emerge Platform 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 dated September 07,2016 ("Prospectus").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.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:

BIGSHARE SERVICES PRIVATE LIMITED

E2 Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri East, Mumbai - 400072.
Tel: +91 22 4043 0200; Fax: +91 22 2847 5207; E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com; Contact Person: Mr. Babu Raphael; SEBI Registration No.: INR000001385

Place: New Delhi

Date : October 03,2016

For AVSL Industries Limited
On behalf of the Board of Directors
Sd/-
Managing Director

AVSL Industries IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in AVSL Industries IPO?

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

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

    Visit the AVSL Industries IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is AVSL Industries IPO allotment process?

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

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