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VISHAL BEARINGS LIMITED Our Company was incorporated as 'Vlshal Bearings Private Limited' on 24th July, 1991 under the Companies Act, 1956, wtlh the Registrar of Companies Gujarat,. Dadra and Nager Haveli, hearing registration Number 016005. Subsequently, our Company was concerted into a public limited company and the name of our Company was changed from ''Vishal Bearings private Limited' to ''Vishal Bearings Limited' by a special resolution passed on 11th May, 2015. A fresh Certificate of Incorporation Consequent upon conversion in to public limited company was granted to our company on 5th june, 2015, by the Registrar of Companies, Ahemadabad. For Details please refer to the Section titled 'History and Certain Matters' on page no. 99 of the prospectus. Registered Office: Survey No. 22/1, Plot No. 1, Shapar
Main Road, Shapar (Veraval), Rajkot - 360 002, Gujarat; BASIS OF ALLOTMENT PUBLIC ISSUE OF 12,96,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF VISHAL BEARINGS LIMITED (OUR COMPANY) OR 'THE ISSUER' FOR CASH AT A PRICE OF RS. 25/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 15/- PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS 324.00 LACS (HEREINAFTER REFERED TO AS 'THE ISSUE'}, OF WHICH 72,000 EQUITY SHARES OF FACE VALUE RS 10/- EACH AT A PRICE OF RS.25/- PER EQUITY SHARE AGGREGATING TO RS. 18.00 LACS SHALL BE RESERVED FOR SUBSRClPTION BY MARKET MAKER TO THE ISSUE {'THE MARKET MAKERS RESERVATION PORTION ') THE ISSUE LESS THE MARKET MAKER RESERVATlON PORTION I.E.. ISSUE OF 12,24,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT AN ISSUE PRICE OF RS 25/- PER EQUITY SHARE AGGREGATING TO RS 306.00 LACS ('HEREINAFTER REFEHRED TO AS THE 'NET ISSUE'). THE ISSUE AND THE NET ISSUE Wl LL CONSTITUTE 27.02 AND 25.52% RESPECTIVALY OF THE POST-ISSUE PAID- UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTH ER DETAILS, PLEASE REFER TO THE SECTION TITLE 'TERMS OF THE ISSUE' BEGINNING ON PAGE NO. 205 OF THE PROSPECTUS. THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4} OF THE SEBI (ICDR) REGULATION 2009, AS AMENDE D. FOR FURTHER DETAILS. SEE SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE
NO. 212 OF THE PROSPECTUS.
PROPOSED LISTING: THURSDAY, OCTOBER 15, 2015 The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE. In terms of Chapter XB of SEBI (ICDR) Regulations. 2009 as amended from time to time, the Company is not required to obtain any in-principle listing approval for its Equity Shares being offered in this Issue. However, the Company has received an in-principle approval letter dated 14th july, 2015 from BSE for using its name in the Offer Document for listing of its shares on the SME Platform of BSE. For purposes of this Issue, the Designated Stock Exchange will be tha BSE Limited ('BSE'). The trading is proposed to be commenced with effect from October 15, 2015*. *subject to receipt of listing and trading approvals from the BSE Limited. All Applicants were allowed to participate 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 Syndicala Banks (the'SCSBs'). SUBSCRIPTION DETAILS The Issue has received 357 applications for 31,86,000 Equity Shares (after cheque
returns) resulting in 2.46 times subscription (including reserved portion of Market
Maker). The details of the applications received in the issue (before technical rejections
and after cheque relums) are as folliows:
The details of aoplications rejected by the Registrar on technical grounds (including withdrawal) are detailed below: (Technical rejection)
After eliminating technically rejected applications, the folliowing tables give us category wise net valid applications:
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange BSE Limited on October 08,2015. A. Allocation to market Maker (After Technical Rejections): The Basis of allotment to the Market Maker, at the issue price of rs. 25/- per Equity Share, was finalized in consullation with BSE. The category was subscribed by 1.00 time. Tha lotal number of shares allotted in this catagory is 72,000 Equity Shares. B. Allocation to Retail individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Indivdual investor at the issue price of Rs. 25/- per Equity Share, was finalized in consultaion with BSE. The category was subscribed by 2.51 times. The total- number of shares allotted in this category is 7,98,000 Equity Shares to 133 successful applicants. The Category-wise details of the Basis of Allotment are as under
C. Allocation to other than Retail Individual Investors (After Technical Rejectioni & Withdrawal): The Basis of Allotmant to the Non Institutional Investors, at the issue price of Rs. 25/- per Equity Share, was finalised in consultation with BSE. The category was subscribed 2.55 times. The total number of shares allotted in this caiegory is 4,26,000 Equiiy Shares. The Category-wise details of the Basis of Alltotment are as under.
The Board of Directors of the Company at its meeting held on October 08,2015 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Lid and has authorized the corporate acton for the transfer of the Equity Shares to various successful applicant. The Refund/allotment intimation are being dispatched to the address-of the Applicant as registered with the depositories on or before October 10,2015. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to October 08,2015. In case the same is not received within ten days, investors may contact Registrar at the address given below. The Equity Shares allocated to successful applicants are being credited to their baneficiary accounts subject to validation of the account details with the depositories concerned. The Company Is taking step to get the Equity Shares admitted for trading on the SME Platform of BSE Limited within twelve workmg 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 16, 2015 ('Prospectus'). INVESTORS PLEASE NOTE The details of the allotment made would also be hosted on the website of the Registrar to the issue, KARVY COMPUTERSHARE PRIVATE LIMITED at www.karisma.karvy.com . All future correspondence in this regard may kindly be addressed to the registered to the issue quting 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: KARVY COMPUTERSHARE PRIVATE LIMITED Karvy Selenium Tower B, Plot 31 -32, Gachibowli, Financial District,
Nanakramguda, Hyderabad - 500 032
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 VISHAL BEARINGS LIMITED. |
The Vishal Bearings IPO basis of allotment (published above) tells you how shares are allocated to you in Vishal Bearings IPO and category wise demand of IPO share.
Visit the Vishal Bearings IPO allotment status page to check the number of shares allocated to your application.
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