Evoq Remedies IPO Basis of Allotment

EVOQ REMEDIES LIMITED

Our Company was incorporated as "Salus Life Science and Research Private Limited" at Ahmedabad, Gujarat on February 24th, 2010 under the provisions of the Companies Act, 1956 vide certificate of incorporation issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently the name of our company was changed to "Evoq Remedies Private Limited" on July 15th, 2019 with certificate of Incorporation pursuant to change of name issued by Registrar of Companies, Ahmedabad. Consequent upon the conversion of our Company into public limited company, the name of our Company was changed to "Evoq Remedies Limited" and fresh Certificate of Incorporation dated July 28th, 2021 was issued by Registrar of Companies, Ahmedabad. CIN: U24230GJ2010PLC059692

PUBLIC ISSUE OF 3600000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH OF EVOQ REMEDIES LIMITED ("EVOQ " OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 27 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 17 PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO Rs. 972.00 LAKHS (‘THE ISSUE"), OF WHICH 180000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 27 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 17 PER EQUITY SHARE AGGREGATING TO Rs. 48.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e NET ISSUE OF 3420000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH AT A PRICE of Rs. 27 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF Rs. 17 PER EQUITY SHARE AGGREGATING TO Rs. 923.40 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.47% AND 25.15% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated March 08, 2022 and as per 253(2) of the SEBI (ICDR) Regulations, 2018 wherein allocation in the net offer to the public category shall be; (a) minimum of 50 % to Retail Individual Investors and (b) remaining to i) individual applicants other than retail individual investors and ii) other investors including corporate bodies or institutions, irrespective of number of specified securities applied for, Provided that the unsubscribed portion in either of the categories specified in clauses (a) or (b) may be allocated to applicants in the other category.

Explanation: If the retail individual investor category is entitled to more than fifty per cent, of the Net issue size on a proportionate basis, the retail individual investors shall be allocated that higher percentage.

THE FACE VALVE OF THE EQUITY SHARES IS Rs. 10/- EACH AND THE ISSUE PRICE IS Rs. 27/- EACH INCLUDING A SHARE PREMIUM OF Rs. 17/- PER EQUITY SHARE. THE ISSUE PRICE IS 2.7 TIMES OF THE FACE VALUE. ISSUE WAS OPENED ON THURSDAY, MARCH 17, 2022 ANP CLOSED ON TUESDAY, MARCH 22, 2022.

The Equity Shares offered through the Prospectus are proposed to be listed on SME Platform of BSE Limited ("BSE"), In terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time, our Company has received in principle approval letter dated March 08, 2022 from BSE for using its name in this offer document for listing our shares on the SME Platform of BSE Limited ("BSE"). For the purpose of this Issue, the designated Stock Exchange will be the BSE.

SUBSCRIPTION DETAILS

Details of Applications: The Issue has received 1312 applications of 5696000 Equity Shares (before Technical Rejections cases and Bids not banked for 441 applications of 1968000 Equity Shares) was subscribed to the extent of 1.58 times (Including Market Maker Application of 180000 Equity Shares). After considering Technical rejection cases and Bids not banked aggregating to 1968000 Equity Shares for 441 application, the Issue was subscribed 0.975 times. Since this Issue was fully underwritten, hence Underwriter to the Issue has Subscribed the shortfall of 88000 Equity Shares and accordingly Issue was subscribed to 1.000 time. The details of the valid applications received in the Issue (after Technical Rejections for 53 applications of 220000 Equity Shares and after removing 441 applications for 1968000 shares for which "bid filed but not banked) are as follows:

Details of the valid Applications Received (after Technical Rejections for 53 applications of220000 Equity Shares and after removing 441 applications for 1968000 shares for which "bid filed but not banked):

Total 53 applications for 220000 Equity shares in Retail Individual Investors and other than Retail Individual Investor were rejected on technical grounds including withdrawal of 31 applications for 124000 Equity Shares.

• After revised subscription (Original Allocation was for 1710000 Equity Shares and allotment was made for 112000 Equity Shares in other than retails category and Original Allocation was for 1710000 Equity Shares and allotment was made for 3220000 Equity Shares in retails category)

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange being BSE on March 25, 2022.

The Board of Direction of the Company at its meeting held on March 25, 2022 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 allotments of shares in dematerialized from to various successful application.

The allotment advice and/or notice are being dispatched to the address of the Applicants as registered with the depositories, Further, the instruction to Self-Certified Syndicate Banks were being processed on or before March 25, 2022. In case the same is not received within 10 days, investors may contact at the address 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 ("BSE"), within Six working days from the date of the closure of the Issue. The trading is proposed to be commenced on Wednesday, March 30, 2022 subject to received of final listing and trading approvals from the BSE.

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 ipo@bigshareonline.com. All future correspondence in their regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Application From, number of Shares applied for and Bank Branch where the application had been lodged and payment details at the Registrar given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF EVOQ REMEDIES LIMITED.

Note: All capitalized terms used and defined herein shall have the respective meaning assigned to them in the Prospectus.