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Global Education IPO Details

Issue Open Feb 16, 2017
Issue Close Feb 21, 2017
IPO Price ₹150
Face Value ₹10
IPO Size ₹10.25 Cr
Listing At NSE SME
IPO Lot Size 1000

GLOBAL EDUCATION LIMITED

Our Company was incorporated on June 30, 2011 as Global Business School (India) Private Limited under the provisions of the Companies Act, 1956 vide Certificate of Incorporation bearing No. 219291 dated June 30, 2011 issued by the Registrar of Companies, Maharashtra at Mumbai. Subsequently, the name of our Company was changed from Global Business School (India) Private Limited to Global Education Private Limited pursuant to shareholders resolution passed in the Extra-ordinary General Meeting held on November 26, 2011. A fresh Certificate of Incorporation consequent upon change of name was granted to our Company on December 12, 2011 by the Registrar of Companies, Maharashtra at Mumbai. Subsequently, our Company was converted into a public limited company pursuant to special resolution passed at the Extra-ordinary General Meeting of our Company held on November 01,2016 and the name of our Company was changed to Global Education Limited and a Fresh Certificate of Incorporation bearing CIN U80301MH2011PLC219291 dated November 15,2016 was issued by the Registrar of Companies, Maharashtra at Mumbai. For details of changes in name and registered office of our Company, please refer to the section titled 'History and Certain Corporate Matters' beginning on page 109 of the Prospectus.

Registered Office: Office No. 112,1st Floor of Building 'Pancfiratna CHSL', M. RMarg, Opera House, Girgaon, Mumbai-400004, Maharashtra, India.
Tel No.: +91 22 4924 2584 Corporate Office: 4th Floor, Usha Complex, 345, Kingsway, Nagpur - 440001, Maharashtra, India. |
Email: investorinfo@globaledu.net.in | Website: www.globaledu.net.in Contact Person: Ms. Shalini Vijay Kumar Kota, Company Secretary & Compliance Officer | Corporate Identity Number: U80301MH2011PLC219291

PROMOTERS OF THE COMPANY: MR. RISHABH SUNIL SURANA AND MIGHTY OVERSEAS PRIVATE LIMITED

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 6,83,000 EQUITY SHARES OF A FACE VALUE OF RS 10 EACH (THE 'EQUITY SHARES') OF GLOBAL EDUCATION LIMITED ('GEL' OR THE 'COMPANY') FOR CASH AT A PRICE OF RS 150 PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO 71024.S0 LAKHS ('THE ISSUE'), OF WHICH, 35,000 EQUITY SHARES OF RS 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (AS DEFINED IN THE SECTION 'DEFINITIONS AND ABBREVIATIONS') (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 6,48,000 EQUITY SHARES OF RS 150 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE' AGGREGATING UP TO RS 972 LAKHS (THE 'ISSUE'). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.51% AND 26.10%, RESPECTIVELY OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.

ISSUE PRICE: RS 150 PER EQUITY SHARE OF FACE VALUE RS 10 EACH. THE ISSUE PRICE IS 15 TIMES OF THE FACE VALUE.
ISSUE OPENED ON THURSDAY, FEBRUARY 16, 2017 AND CLOSED ON TUESDAY, FEBRUARY 21, 2017.

The Equity Shares Issued 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 and has received an approval letter dated February 01,2017 from NSE for using its name in the Issue Document for listing of our shares on the Emerge Platform of NSE. For the purpose of this Issue, the designated Stock Exchange will be (NSE'). The trading is proposed to be commenced on or about March 02,2017, subject to receipt of listing and trading approvals from NSE.

All Applicants were allowed to participate in the Issue through APPLICATION SUPPORTED BY BLOCKED AMOUNT ('ASBA') process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs')

SUBSCRIPTION DETAILS

The Issue has received 37908 applications for 5,61,75,000 Equity Shares resulting in 82.25 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):

Category Number of Applications % to Total Number of Equity Shares % to Total Subscription (Times)
Market Makers 1 0.003 35000 0.06 1.00
Retail Individual Investors 36589 98.83 36589000 66.32 112.93
Other than Retail Individual Investors 433 1.17 18544000 33.61 57.23
TOTAL 37023 100.00 55168000 100.00 80.77

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

Category No. of Applications No. of Equity Shares
Market Makers Nil Nil
Retail Individual Investors 544 544000
Other than Retail Individual Investors 12 248000
Total 556 792000

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

Category Number of
Applications
% Reserved Portion
(as per Prospectus)
No. of Valid
Shares applied
% of
Total Applied
Subscription
(Times)
Market Maker 1 100.00 35000 35000 100.00 1.00
Total 1 100.00 35000 35000 100.00 1.00
Category Number of
Applications
% Reserved Portion
(as per Prospectus)
Proportionate Issue
Size (After rounding off)
No. of Valid
Shares applied
% of Total Applied Subscription
(Times)
Retail Individual Investors 36045 98.85 324000 430000 36045000 66.33 83.825
Other than Retail Individual Investors 421 1.15 324000 218000 18296000 33.67 83.926
Total 36466 100.00 648000 648000 54341000 100.00 83.86

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on February 27,2017

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 150 per Equity Share, was finalised 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 35,000 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 Equity Shares applied in this Category % of total Proporti nate Shares Available Allocation per Applicant (Before Rounding Off) Allocation par Applicant (After Rounding Off) Ratio of Allottees to Applicants Ratio 1 Ratio of Allottees to Applicants Ratio 2 Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
35000 1 100.00 35000 100.00 35000 35000.00 35000 1 1 1 35000 0
TOTAL 1 100.00 35000 100.00 35000 35000.00 35000 1 1 1 35000 0

B. Allocation to Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, at the Issue price of Rs 150 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 83.825 times i.e. for 324000 Equity Shares. Total number of shares allotted in this category is 430000 Equity Shares to 430 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 Equity Shares applied In this Category % 0f total Proporti nate Shares Available Allocation per Applicant (Before Rounding Off) Allocation per Applicant (After Rounding Off) Ratio of Allottees to Applicants Ratio 1 Ratio of Allottees to Applicants Ratio 2 Number of Successful applicants (after rounding off) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/ Deficit
100 36045 100.00 36045000 100.00 430000 11.93 1000 430 36045 430 430000 0
TOTAL 36045 100.00 36045000 100.00 430000 11.93 1000 430 430000 0

C. Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investot, at the Issue price of Rs 150 per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 83.96 times i.e. for 324000 shares the total number of shares allotted in this category is 218000 Equity Shares to 91 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 Equity Shares applied in this Category % of total Proportionate Shares Available Allocation per Applicant (Before Rounding Oft) Allocation per Applicant (After Rounding Oft) Ratio of Allottees to Applicants Ratio 1 Ratio of Allottees to Applicants Ratio 2 Number of Successful applicants (after rounding oft) Total No. of Equity Shares allocated/ allotted No. of Shares Surplus/Deficit
2000 129 30.64 258000 1.41 3074 23.83 1000 3 129 3 3000 -74
3000 37 8.79 111000 0.61 1323 35.75 1000 1 37 1 1000 -323
4000 23 5.46 92000 0.50 1096 47.66 1000 1 23 1 1000 -96
5000 20 4.75 100000 0.55 1192 59.58 1000 1 20 1 1000 -192
6000 18 4.28 108000 0.59 1287 71.49 1000 1 18 1 1000 -287
7000 17 4.04 119000 0.65 1418 83.41 1000 1 17 1 1000 -418
8000 11 2.61 88000 0.48 1049 95.32 1000 1 11 1 1000 -49
*9000 3 0.71 27000 0.15 322 107.24 0 0 0 0 0 -322
10000 8 1.90 80000 0.44 953 119.15 1000 1 8 1 1000 47
12000 4 0.95 48000 0.26 572 142.98 1000 1 4 1 1000 428
13000 6 1.43 78000 0.43 929 154.90 1000 1 6 1 1000 71
*14000 2 0.48 28000 0.15 334 166.81 0 0 0 0 0 -334
15000 7 1.66 105000 0.57 1251 178.73 1000 1 7 1 1000 -251
16000 3 0.71 48000 0.26 572 190.64 1000 1 3 1 1000 428
*17000 1 0.24 17000 0.09 203 202.56 0 0 0 0 0 -203
*18000 1 0.24 18000 0.10 214 214.47 0 0 0 0 0 -214
19000 6 1.43 114000 0.62 1358 226.39 1000 1 6 1 1000 -358
20000 13 3.09 260000 1.42 3098 238.30 1000 3 13 3 3000 -98
21000 4 0.95 84000 0.46 1001 250.22 1000 1 4 1 1000 -1
22000 2 0.48 44000 0.24 524 262.13 1000 1 2 1 1000 476
*23000 1 0.24 23000 0.13 274 274.05 0 0 0 0 0 -274
24000 3 0.71 72000 0.39 858 285.96 1000 1 3 1 1000 142
25000 3 0.71 75000 0.41 894 297.88 1000 1 3 1 1000 106
26000 5 1.19 130000 0.71 1549 309.79 1000 1 5 1 1000 -549
27000 2 0.48 54000 0.30 643 321.71 1000 1 2 1 1000 357
28000 2 0.48 56000 0.31 667 333.62 1000 1 2 1 1000 333
29000 3 0.71 87000 0.48 1037 345.54 1000 1 3 1 1000 -37
30000 3 0.71 90000 0.49 1072 357.46 1000 1 3 1 1000 -72
*32000 1 0.24 32000 0.17 381 381.29 0 0 0 0 0 -381
33000 3 0.71 99000 0.54 1180 393.20 1000 1 3 1 1000 -180
*34000 1 0.24 34000 0.19 405 405.12 0 0 0 0 0 -405
35000 3 0.71 105000 0.57 1251 417.03 1000 1 3 1 1000 -251
36000 3 0.71 108000 0.59 1287 428.95 1000 1 3 1 1000 -287
*38000 1 0.24 38000 0.21 453 452.78 0 0 0 0 0 -453
*39000 1 0.24 39000 0.21 465 464.69 0 0 0 0 0 -465
*40000 1 0.24 40000 0.22 477 476.61 0 0 0 0 0 -477
*41000 1 0.24 41000 0.22 489 488.52 0 0 0 0 0 -489
43000 4 0.95 172000 0.94 2049 512.35 1000 2 4 2 2000 -49
44000 1 0.24 44000 0.24 524 524.27 1000 1 1 1 1000 476
45000 1 0.24 45000 0.25 536 536.18 1000 1 1 1 1000 464
47000 2 0.48 94000 0.51 1120 560.01 1000 1 1 1 1000 -120
48000 1 0.24 48000 0.26 572 571.93 1000 1 1 1 1000 428
50000 3 0.71 150000 0.82 1787 595.76 1000 2 3 2 2000 213
54000 1 0.24 54000 0.30 643 643.42 1000 1 1 1 1000 357
60000 4 0.95 240000 1.31 2860 714.91 1000 3 4 3 3000 140
61000 2 0.48 122000 0.67 1454 726.83 1000 1 2 1 1000 -454
63000 1 0.24 63000 0.34 751 750.66 1000 1 1 1 1000 249
64000 1 0.24 64000 0.35 763 762.57 1000 1 1 1 1000 237
66000 4 0.95 264000 1.44 3146 786.40 1000 3 4 3 3000 -146
67000 4 0.95 268000 1.46 3193 798.32 1000 3 4 3 3000 -193
70000 2 0.48 140000 0.77 1668 834.06 1000 1 1 2 2000 332
72000 2 0.48 144000 0.79 1716 857.89 1000 1 1 2 2000 284
84000 1 0.24 84000 0.46 1001 1000.87 1000 1 1 1 1000 -1
85000 1 0.24 85000 0.46 1013 1012.79 1000 1 1 1 1000 -13
95000 1 0.24 95000 0.52 1132 1131.94 1000 1 1 1 1000 -132
100000 0.71 300000 1.64 3575 1191.52 1000 1 1 3 3000 -575
102000 1 0.24 102000 0.56 1215 1215.35 1000 1 1 1 1000 -215
114000 1 0.24 114000 0.62 1358 1358.33 1000 1 1 1 1000 -358
133000 0.71 399000 2.18 4754 1584.72 1000 1 1 3 3000 -1754
133000 1000 2 3 0 2000 2000
134000 1 0.24 134000 0.73 1597 1596.63 2000 1 1 1 2000 403
146000 1 0.24 146000 0.80 1740 1739.62 2000 1 1 1 2000 260
179000 1 0.24 179000 0.98 2133 2132.82 2000 1 1 1 2000 -133
190000 1 0.24 190000 1.04 2264 2263.88 2000 1 1 1 2000 -264
200000 1 0.24 200000 1.09 2383 2383.03 2000 1 1 1 2000 -383
274000 1 0.24 274000 1.50 3265 3264.76 3000 1 1 1 3000 -265
333000 0.48 666000 3.64 7936 3967.75 4000 1 1 2 8000 64
350000 1 0.24 350000 1.91 4170 4170.31 4000 1 1 1 4000 -170
400000 1 0.24 400000 2.19 4766 4766.07 5000 1 1 1 5000 234
646000 2 0.48 1292000 7.06 15394 7697.20 8000 1 1 2 16000 606
648000 13 3.09 8424000 46.04 100370 7721.03 8000 1 1 13 104000 3630
TOTAL 421 100 18296000 100 218000 91 218000 0

*No Allotment of shares due to proportionate shares available below 500.

The Board of Directors of the Company at its meeting held on February 28,2017 has approved the Basis of Allocation of Equity Shares as 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-cum-Refund advices and allotment advice and/or notices will be forwarded to the email id's and address of the Applicants as registered with the depositories / as filled in the application form on or before March 01,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount has been processed on February 28,2017. In case the same is not received within 10 days, investors may contact 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 the SME Platform of National Stock Exchange of India Limited (NSE EMERGE) 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 meanings assigned to them in the Prospectus dated February 22,2017 ('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
E-2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (E), Mumbai - 400 072, Maharashtra, India.
Tel. No.: +91 - 22 - 40430200; Fax No.: +91 - 22 - 28475207; Website: www.bigshareonline.com
Email: ipo@bigshareonline.com; Contact Person: Mr. Babu Rapheal; SEBI Registration No. INR000001385

Place: Mumbai
Date: 28.02.2017
For Global Education Limited
On behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer

Global Education IPO Basis of Allotment FAQs

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

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

Visit the Global Education IPO allotment status page to check the number of shares allocated to your application.

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