Shanti Educational IPO Basis of Allotment

SHANTl EDUCATIONAL INITIATIVES LIMITED

(CIN: U80101GJ1988PLC010691)

Our Company was originally incorporated as Chiripal Enterprises Limited on May 12,1988 with the Registrar of Company. Gujarat as a public limited company under the provisions of the Companies Act and a certrificate of commencement of business was issued by the Registrar or Companies. Gujarat on July 12.1988. Further the name of our Company was changed from Chiripal Enterprises Limited to Shanti Educational Initiatives Limited vide a fresh certificate of incorporation dated April 16.2010 issued by the Assistant Registrar of Companies-. Gujarat, Dadra and Nagar Havelli. The changes to the name of our Company were undertaken to allgn the name of our Company with the nature of business of our Company.. For further detalls. please see the section titled 'History and Certain Other Corporate Metters' beginning on page 86 of the Prosperous.

Registered Offics: 283. New Cloth Market. Ahmedabad-380002, Gujarat. India: Tel: +91-79-22162006;
Corporate Office: Mondeal Square. A Wing, 6th Floor; Prahladnagar, Ahmedabad - 380 015; Tel: +91-79- 66l77266; Email; info@sell.edu,in; Website: www.sei.edu.in
Contact Person: Ms Dimple R. Padhiar. Company Secretary & Compliance Oflicer
Promoters of Our Company: Mr.Vedprakash D.Chiripal, Mr, Brijmohan D. Chiripal, Mr, Vishal V. Chiripal, Ms, Vineeta V. Chiripal and Mr, Ronak B.Agarwal

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 44.00.000 EQUITY SHARES OF Rs. 10 EACH ( EQUITY SHARES') OF SHANTl EDUCATIONAL INITIATIVES LIMITED (SEIL' OR THE 'COMPANY' OR THE ISSUER') FOR CASH AT A PRICE OF Rs. 90 PER SHARE (THE ISSUE PRICE'}, AGGREGATING TO Rs. 3960.00 LACS (THE ISSUE') CONSISTING OF AN OFFER FOR SALE OF 36,00, 000 EQUITY SHARES BY THE SELLING SHAREHOLDERS AGGREGATING TO Rs. 3240. 00 LACS AND FRESH ISSUE OF 8,00,000 EQUITY SHARES AGGREGATING TO Rs. 720.00 LACS, OF WHICH, 2,40,000 EQUITY SHARES OF Rs. 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE KARKET MAKER RESERVATION PDRTION i.e. ISSUE OF 41,60,000 EQUITY SHARES OF Rs, 10 EACH IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE', THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.33% AND 25-84%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY,

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- EACH AND THE ISSUE PRICE IS RS. 90.00. THE ISSUE PRICE IS 9.0 TIMES OF THE FACE VALUE. ISSUE OPENED ON WEDNESDAY, JUNE 01, 2016 AND CLOSED ON MONDAY, JUHE O6. 2016.

The Equity Shares of The Company are proposed to be listed on the SME Platform of BSE Limited ('BSE'). In terms of the Chapter XB ot the SEBI (ICDR) Regulations, 2 009, as amended from time to time, we are not required to obtain an in-principle listing approval from BSE. However, our Company has received an approval via letter dated April 27,2016 from BSE for using its name in the offer document for listing of our shares on the SME Platform of BSE. BSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on or before June 14, 201 6' *
*Subject to receipt of listing and trading approvals from the BSE Limited.

This being a Flxed Price Issue, the allocation in the Net Issue to the Public category shall be made as per Regulation 43(4) of the SEBI (ICDR) Regulations, 2009. as amended from time to time, wherein a minimum of 50% of the Net Offerer shares to the Public shall initially be made available for allotment to Retail individual investors. The balance Net issue of Shares to the public shall be made available for allotment to Individual Applicants other than Retail Individual Investors and other investors, including Corporate Bodies / Institutions irrespective of number of shares applied for. Under subscription, if any. in any of the categories, would be allowed to be met with spillover from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designated Stock Exchange. Such Interse spill over, if any. would be affected In accordance with applicable laws, rules, regulations and guidelines. All investors shall participate in the Issue only through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ('ASEA') 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 422 applications for 44,00,000 Equity Shares resulting in 1.52 times subscription (including reserved portion of market maker The details of the applications received in the Issue (before technical rejections) are as fallows:
Detail of the Applications Received (Belore Technical Rejection):

Category	Number of Applications	% to Total	Number of Equity Shares	% to Total	Subscriplion (Times)
Market Maker	1	0.24	2,40,000	3.58	1.00
Retail Individual Investors	352	83.41	5,63,200	8.40	0.27
Other than Retail individual Investors	69	16.35	58.99.200	88.02	2.84
TOTAL	422	100.00	67,02,400	100.00	1.52

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

Category	Number of Applications	Number of Equity Shares
Market Mater	Nil	Nil
Retail Individual Investors	6	9600
Other than Retail individual Investors	Nil	Nil
TOTAL	6	9,600

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

CATEGORY	No of Applications	% to total	Issue Size (as per Prospectus)	No. of Valid Shares applied	% of Total Applied	Subscription (Times)	*Revised Subscription (Times)**
Market Maker	1	0.24	2.40.000	2,40.000	3.59	1.00	1.00
Retail Individual Investors	346	83.17	20.80.000	5,53,600	5.27	0.27	0.27
Other than Retail Individual Investors	69	16.59	20,80.000	58.99.200	88.14	2.84	1.64
TOTAL	416	100.00	44,00,000	66,92,800	100.00	1.52	1.52

* After Spill -over of 15.26.400 shares from Retail Individual Investors to Other than Retail Individual Investors.
ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on June 09. 2016

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 90/- per Equity Share, was finalised in consultation with BSE, The category was subscribed by 1,00 times The total number of shares allotted in this category is 2,40.000. 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. 90/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 0.27 times. Total number of shares allotted in this category is 5.53.600 Equity Shares to 346 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 Cateogry	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding off)	Allocation per Applicant (After Rounding off)	Ratio of Allottees to the Applicants	Number of Successful applicants (after rounding off)	Total No.of Equity Shares allocated/ allotted	No.of Shares Surplus / (Deficit)
1600	346	100.00	5.53.600	100.00	20,80.000	6011.56	1600	1:1	346	5,53,600	(15,26,400)
Total	346	100.00	5,53,600	100.00	20,80.000				346	5,53,600	(15.26.400)

C. Allocation to Other than Retail 1ndividual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Other than Retail individual investors, at the issue price of Rs. 90/- per Equity Share, was finalized in consultation wilh BSE. The category was subscribed by 1.64 times.Total number of shares allotted in this category is 36,06,400 Equity Shares. The category wise basis of allotment is as under

No.of Shares Applied for (Category wise)	No.of Applications received	% to total	Total No. of Equity Shares applied in this Cateogry	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding off)	Allocation per Applicant (After Rounding off)	Ratio of Allottees to the Applicants	Number of Successful applicants (after rounding off)	Total No. of Equity Shares allocated/ allotted	No.of Shares Surplus/ (Deficit)
3.200	11	15.94	35,200	0.60	21,517	1,956.27	1.600	1:1	11	17,600	(3,917)
4.800	9	13.04	43.200	0 73	26,410	2,934.44	3,200	1:1	9	28.800	2,390
6.400	2	2.90	12.800	0.22	7,825	3,912.50	4.800	1:1	2	9.600	1,775
9.600	6	8.70	57.600	0.98	35.213	5.868.83	6.400	1:1	6	38.400	3.187
11,200	1	1.45	11,200	0.19	6,847	6,847,00	6,400	1:1	1	6.400	(447)
12.800	2	2.90	25.600	0.43	15.650	7,825.00	8.000	1:1	2	16,000	350
27.200	2	2.90	54.400	0.92	33.257	16.623.50	17.600	1:1	2	35.200	1.943
32,000	1	1.45	32,000	0.54	19,563	19,563 00	19,200	1:1	1	19.200	(363)
40,000	13	18.84	5,20,000	8.81	3,17,895	24,453.46	24.000	1:1	13	3.12.000	(5.895)
54.400	5	7.25	2.72.000	4.61	1.66.284	33.256.80	33.600	1:1	5	1.68,000	1.716
99.200	1	1.45	99,200	1.68	60,645	60,645.00	60,800	1:1	1	60.800	155
1.04.000	2	2.90	2,08.000	3.53	1,27,158	63,579.00	64.000	1:1	2	1.28.000	842
1.07.200	2	2.90	2.14.400	3.63	1.31.071	65.535.50	65.600	1:1	2	1.31.200	129
1.08.300	1	1.45	1.08.800	1.84	65.513	66.513 00	67.200	1:1	1	67.200	687
1.10.400	1	1.45	1,10.400	1.87	67,492	67,492.00	67.200	1:1	1	67.200	(292)
2,20,800	3	4.35	6.62.400	11.23	4.04.950	1.34,983.33	1.34.400	1:1	3	4.03.200	(1.750)
2.59.200	1	1.45	2.59.200	4.39	1.58.459	1,58.459.00	1.58.400	1:1	1	1.58.400	(59)
3,78.400	3	4.35	8.35.200	14.16	5,10,589	1,70,196.33	1.69.600	1 I	3	5.08.800	(1,78 9)
								1:3	1	1.600
5.56.800	1	1.45	5.56.800	9.44	3.40.393	3.40.393.00	3.40.800	1:1	1	3.40.800	407
7.80.800	1	1.45	7.80.800	13.24	4. 77.332	4.77.332.00	4,76,800	1:1	1	4.76.800	1,068
10.00.000	1	1.45	10.00.000	16.95	6.11.337	6,11,337.00	6.11.200	1:1	1	6.11.200	(137)
Total	69	100.00	58,99,200	100. 00	36.06.400				69	36.06.400

The Board of Directors of the Company at its meeting held on June 10. 2016 has approved the Basis of Allocation of Equity Shares as approved by the Designated Stock Exchange viz. BSE 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 are being dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on June 10. 2016. Further, the instructions to Serf Certified Syndicate Banks for unblocking the amount have been processed on June 10, 2016. In case the same is not received within prescribed time, 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 BSE Limited 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 May 24,2016 ('Prospectus')
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the issue. Link Intime India Private Limited at www.linkintime.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:

LINK INTIME INDIA PRIVATE LIMITED
C-13. Pannalal Silk Mills Compound LBS Marg, Bhandup West. Mumbai-400078
Tel: +91 - 22- 61715400: Fax: +91 - 22 -25960329; Email: seil.ipo@linkintime.co.in:; Website: www.linkintime.com
Contact Person: Ms. Shanti Gopalkrishanan; SEBI Registration No.: INR000004058

Date: June 11, 2016 Place: Ahmedabad	For Shanti Educational Initiatives Limited On behalf of the Board of Directors Sd/- Vineeta V. Chiripal Managing Director

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 SHANTI EDUCATIONAL INITIATIVES LIMITED.

Shanti Educational IPO Basis of Allotment FAQs

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

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

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Shanti Educational IPO Basis of Allotment

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