Marshall Machines IPO Basis of Allotment

(This is only an advertisement for information purpose and not a Prospectus announcement.)

MARSHALL MACHINES LIMITED
CIN: U29299PB1994PLC014605

Our Company was incorporated as V.B. Spinning Mills Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated May 23,1994 issued by the Registrar of Companies, Punjab. H.P & Chandigarh. Subsequently, a fresh certificate of incorporation dated January 02,2002 was issued by Registrar of Companies, Punjab. H.P & Chandigarh, pursuant to change of name of our Company from V.B Spinning Mills Private Limited to Marshall Machines Private Limited. The name of the company was changed to Marshall Machines Limited pursuant to conversion into a public company vide shareholders approval dated April 24, 2018 and fresh certificate of Incorporation dated May 17, 2018 issued by Registrar of Companies, Chandigarh The corporate Identification Number of our Company is: U29299PB1994PLC014605. For further details please refer to Chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 146 of the Prospectus

Registered Office: C-86 Phase, V, Focal Point. Ludhiana-141010, Punjab, India.
Tel No: +91 161 5012406/2407/9648: Fax: +91 161 5012408; Email: gaurav.sarup@marshallcnc.com ; Website: www.marshallcnc.com
Contact Person: Mr. Gaurav Sarup, Managing Director and Mr. Sunil Malhotra, Company Secretary & Compliance Officer

PROMOTERS OF THE COMPANY: Mr. Gaurav Sarup and Mr. Prashant Sarup

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 38,70,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID UP OF MARSHALL MACHINES LIMITED ('MARSHALL', OR 'THE COMPANY' OR THE 'ISSUER' FOR CASH AT A PRICE OF RS. 42/- PER EOUITY SHARE (THE 'ISSUE PRICE') (INCLUDING A SHARE PREMIUM OF RS 32/- PER EQUITY SHARE AGGREGATING RS. 1625.40 LAKHS (THE 'ISSUE') BY OUR COMPANY. OF WHICH 1,98,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP 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 36,72,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH FULLY PAID UP IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.60% AND 25.24% RESPECTIVELY OF THE POST ISSUE PAID UP EOUITY 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 259 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH THE ISSUE PRICE IS RS. 42/-
THE ISSUE PRICE IS 4.20 TIMES THE FACE VALUE.

PROPOSED LISTING FRIDAY SEPTEMBER 07, 2018

The Equity Shares offered through the Prospectus are proposed to be listed on the NSE Emerge Platform ('NSE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009, as amended from time to time. The Company has received an in-principle approval letter dated August 17, 2018 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 lo be commenced with effect from Friday, September 07, 2018.*

*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 730 applications for 6954000 Equity Shares resulting in 1.80 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):

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

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

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on September 05, 2018.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker at the issue price of Rs. 42/- 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 198000 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. 42/'- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.11 times. The total number of shares allotted in this category is 1836000 Equity Shares to 612 successful applicants.

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

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 42/- per Equity Share, was finalized In consultation with NSE. The category was subscribed 2.56 times. The total number of shares allotted in this category is 1836000 Equity Shares to 43 successful applicants. The Category wise details of the Basis of Allotment are as under:

The Board ol Directors of the Company at its meeting held on September 05, 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 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 September 06, 2018. Further the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or poor to September 06, 2018. 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 August 18, 2018 ('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
Bharat Tin Works Building, 1st Floor,
Opp, Vasant Oasis,
Makwana Road, Marol,
Andheri (East), Mumbai - 400059,
Maharashtra
Tel:  (022) 22 62638200
Fax (022) 62638299
E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Person: Mr. Ashok Shetty
SEBI Registration No.: INR000001385

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF THE MARSHALL MACHINES LIMITED.