|Basis of Allotment|
IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS
ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE,PURCHASE OR
SUBSCRIBE TO SECURITIES. NOT FOR PUBLICATION AND DISTRIBUTION. DIRECTLY OR INDIRECTLY.
FINE ORGANIC INDUSTRIES LIMITED
Fine Organic Industries Limited ('Company') was incorporated as "Fine Organic Industries (Mumbai) Private Limited' on May 24.2002 in the state of Maharashtra at Mumbai as a private limited company under the Companies Act. 1956. as amended. Thereafter, the name of our Company was changed to 'Fine Organic Industries Private Limiled' and a fresh certificate of incorporation consequent upon change of name dated February 16.2009 was issued by the Registrar of Companies. Maharashtra situated at Mumbai ('RoC'). Subsequently our Company was converted into a public limited company, the word 'private' was struck off from the name of our Company and consequently, a fresh certificate of incorporation dated November 2,2017 was issued by the RoC recording the change of our Company's name to 'Fine Organic Industries Limiled'. For details of change in the name of our Company, see "History and Certain Corporate Matters' on page 154 of the Prospectus.
Registered and corporats office: Fine House Anandji
Lane, Ghatkopar (East), Mumbai 400 077. Contact Person: Pooja Gaonkar,
Company Secretary and Compliance Officer; Tel: (91 22) 2102 5000; Fax:
(91 22) 2102 8899, E-mail: email@example.com;
PROMOTERS OF OUR COMPANY: PRAKASH DAMODAR KAMAT, MUKESH MAGANLAL SHAH,
JYOTSNA RAMESH SHAH,
Our Company has filed the Prospectus dated June 25,2018 with the Registrar of Companies, Maharashtra at Mumbai (the "Prospectus") and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on or about July 02,2018.
BASIS OF ALLOTMENT
INITIAL PUBLIC OFFERING OF 7,664,994 EQUITY SHARES OF FACE VALUE OF RS 5 EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF RS 783 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS 778 PER EQUITY SHARE, THROUGH AN OFFER FOR SALE BY THE PROMOTER GROUP SELLING SHAREHOLDERS AGGREGATING TO RS 6,001,69 MILLION ('OFFER"). THE OFFER CONSTITUTES 25.00% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL.
OFFER PRICE: RS 783 PER EQUITY SHARE OF FACE VALUE OF RS 5 EACH
Risks to .Investors:
1. The two Book Running Lead Managers (BRLMs") associated with the Offer have collectively handled 36 public offers in the past three years out of which 6 offers closed below the offer price on listing date.
2. The average cost of acquisition per Equity Share for Prakash Damodar Kamat. Mukesh Maganlal Shah, Jyotsna Ramesh Shah, Jayen Ramesh Shah, Tushar Ramesh Shah and Bimal Mukesh Shah, is Rs 1,53, Rs 0.83, Rs 0.79, Rs 0,76, Rs 0.69 and Rs 0,74, respectively, and the Offer Price at the upper end of the price band is Rs 783 per Equity Share.
3. Weighted Average Return on Net Worth as per the Restated Consolidated Financial Statements for the Company for Fiscal 2017, Fiscal 2016 and Fiscal 2015 is 27,24%. This is lower than the average return on net worth of the industry peer, which is 28,68% on consolidated basis for Fiscal 2017.
BID/ OFFER PERIOD; OPENED ON; WEDNESDAY, JUNE 20, 2018;
The Offer was made in terms of Rule 19(2)(b)(ii}of the Securties Contracts
(Regulation) Rules, 1957, as amended ("SCRR"). read with
Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and
Disclosure Requirements) Regulations, 2009, as amended ("SEBI ICDR
Regulations"), the is. an Offer for such percentage of the post-Offer
paid-up Equity Share capital of our Company that is at least Rs 4.000 million calculated
at the Offer Price. The offer was made through the Book Bulding Process, in compliance
with Regulation 26(1) of the SEBI ICDR Regulations wherein 50% of the Offer was allocated
on a proportionate basis to ("QIBs Portion"), provided that our
Company and the Promoter Group Selling Shareholders, in consultation with the Book Running
Lead Managers, allocated up to 60% of the QIB Portion to Anchor Investors on a
discretionary basis ("Anchor Investor Portion"), at the Anchor
Investor Allocation Price, At least one-third of the Anchor Investor Portion was reserved
for domestic Mutual Funds, subject to valid Bids received from domestic Mutual Funds at or
above Anchor Investor Allocation Price. 5% of the Net QIB Portion was available for
allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB
Portion was available for allocation on a proportionate basis to all QIBs (other than
Anchor Investors), including Mutual Funds, subject to valid being received at or above the
Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net
QIB Portion, the balance Offered Shares available for allocation in the Mutual Fund
Portion were added to the remaining Net QIB Portion for proportionate- allocation to QIBs.
Further, not less than 15°/: of the Offer was available for allocation on a proportionate
basis to Non-Institutional Bidders and not less than 35% of the Offer was available for
allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations,
subject to valid Bids received at or above the Offer Price. All Bidders, other than Anchor
Investors, participated in the Offer through an Application Supported by Blocked Amount
("ASBA") process providing details of their respective bank
account which were blocked by the Self Certified Syndicate Banks ("SCSBs").
Anchor Investors were not permitted to participate in the Offer through ASBA Process. For
details, see "Offer Procedure'' beginning on page 477 of the Prospectus.
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on June 27,2018.
A. Allotment to Retail Individual Bidders (after technical rejections)
(including ASBA Applications)
B. Allotment to Non-Institutional Bidders. (After Technical Rejections)
C. Allotment to QIBs (Excluding Anchor Investor)
D. Allotment to Anchor Investors.
The IPO Committee of our Company on June 28.2018 has. taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Intimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on June 26,2018 and payment to non -Syndicate brokers have been issued on June 28,2018. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on June 23.2018 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE each dated June 28.2018. The Company has received listing and trading approval from NSE and BSE and the trading will commence on or about July 2,2018. All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.
INVESTORS PLEASE NOTE
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder. Bid cum Application Form number. Bidder DP ID. Client ID. PAN, date of submission, of Bid cum Applicant Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:
Karvy Computershare Private Limited
THE LEVEL OF SUBSCRIPTION SHOULD NOT BETAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF FINE ORGANIC INDUSTRIES LIMITED DISCLAIMER CLAUSE OF THE BSE: