| Basis of Allotment |
(THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT. NOT FOR DISTRIBUTION OUTSIDE INDIA.)
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SRIVASAVI ADHESIVE TAPES LIMITED |
| Corporate Identification Number: U24295KA2010PLC052908 |
Our Company was originally incorporated under the name "Srivasavi Adhesive Tapes Private Limited" under the provisions of the Companies Act, 1956 and Certificate of Incorporation was issued by the Registrar of Companies, Bangalore, Karnataka on March 19, 2010 Subsequently, the name of our Company was changed to "Srivasavi Adhesive Tapes Limited" via Shareholders' Resolution dated September 14, 2022 pursuant to which fresh Certificate of Incorporation dated September 29, 2022 was issued by Registrar of Companies, Bangalore. Consequently, the status of the Company was changed to public limited and the name of our Company was changed to ‘Srivasavi Adhesive Tapes Limited' vide Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting of our Company held on September 14, 2022. The fresh certificate of incorporation consequent to conversion was issued on September 29, 2022 by the Registrar of Companies, Bangalore. The Corporate Identification Number of our Company is U24295KA2010PLC052908. For further details on incorporation and registered office of our Company, see "History and Certain Corporate Matters " beginning on page 140 of the Prospectus
| Registered Office: No. B 100, KSSIDC Industrial Estate. Doddaballapura, Bangalore - 561 203, Karnataka, India. |
| Corporate Office: 17/2, 2nd Floor, Kodigehalli Main Road, Sahakarnagar, Bangalore - 560 092, Karnataka, India. |
| Tel: 08023629383 | E-mail: investors@vasavitapes.com | Website: www.vasavitapes.com |
| Contact Person: Nikhil Jain, Company Secretary and Compliance Officer |
| PROMOTERS OF OUR COMPANY: D N ANILKUMARA AND ASHWINI D A |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFERING OF 37,80,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH ("EQUITY SHARES") OF SRIVASAVI ADHESIVE TAPES LIMITED ("SRIVASAVI" OR "OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF Rs. 41/- PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 31/- PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO Rs. 1,549.80 LAKHS ("THE ISSUE") OF WHICH 1,92,000 EQUITY SHARES AGGREGATING TO Rs. 78.72 LAKHS HAD BEEN RESERVED FOR SUBSCRIPTION BY MARKET MAKER ("MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 35,88,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH AT AN ISSUE PRICE OF Rs. 41/- PER EQUITY SHARE AGGREGATING TO Rs. 1,471.80 LAKHS ("NET ISSUE"). THE ISSUE AND THE NET ISSUE CONSTITUTES 26.67% AND 25.31% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10/- AND THE ISSUE PRICE IS 4.1 TIMES OF THE FACE VALUE | |
| ISSUE | ISSUE OPENED ON: THURSDAY, FEBRUARY 23, 2023 |
| ISSUE CLOSED ON: TUESDAY, FEBRUARY 28, 2023 | |
| RISK TO INVESTORS: | |
| 1. | Our Equity Shares have never been publicly traded, and may experience price and volume fluctuations following the completion of the Issue, Further, our Equity Shares may not result in an active or liquid market and the price of our Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all. |
| 2. | The average cost of acquisition of Equity Shares by our Promoters is set forth in the table below: |
| S. No. | Name of the Promoters | No of Equity Shares held | Average cost of Acquisition (in Rs.) |
| 1. | D N Anilkumara | 72,87,366 | 1.17/- |
| 2. | Ashwini D A | 30,90,000 | 1.20/- |
Investors are required to refer section titled "Risk Factors" on page 26 of the Prospectus.
Our Company has filed die Prospectus dated February 18, 2023 with the ROC (the "Prospectus"). The Equity Shares of the Company are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited i.e., NSE Emerge, in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In-Principle approval from NSE for the listing of the Equity Shares pursuant to letter dated February 17, 2023. NSE is the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on March 09, 2023 (Subject to receipt of listing and trading approvals from the NSE).
The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category is made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public is initially made available for allotment to Retail individual Investor. The balance of Net Issue of Shares to the public is 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. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis they shall be allotted that higher percentage, Under subscription if any, in any of the categories, would be allowed to be met with spill-over 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 inter-se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBA") process including through UPI mode (as applicable) by providing details of the respective bank accounts and / or UPI IDs, in case of RIIs, if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same.
SUBSCRIPTION DETAILS
The Net Issue has received 5,386 applications before technical rejections for 2,78,79,00 Equity Shares resulting in 7.05 times subscription. The details of the applications received in the Net Issue (before and after technical rejections & withdrawal) are as follows:
Detail of the Applications Received
| Category | Before Technical Rejections & Withdrawals | After Technical Rejections & Withdrawals | ||
| No. ol Applications | No. of Equity Shares | No. of Applications | No. of Equity Shares | |
| Retail Individual Investors | 5,038 | 1,51,14,000 | 4,943 | 1,48,29,000 |
| Other than Retail Individual Investors | 347 | 1,25,73,000 | 340 | 1,16,22,000 |
| Total | 5.386 | 2,78,79,000 | 5,284 | 2,66,43,000 |
Note:
| 1. | The Net Issue does not include 1,92,000 Equity Shares reserved tor Market Maker, which was subscribed by 1.00 time. |
| 2. | There were 102 Technical Rejections lor 12,36,000 Equity Shares & no withdrawal ol any application in any category. |
In the event of over subscription, the allotment will be made on a proportionate basis In marketable lots, in other than Retail Individual Investor Category there was over subscription of 2,78,79,000 Equity Shares before technical rejection and 2,66,43,000 Equity Shares after technical rejection. In Retail Individual Investors Category there was over subscription of 1,51,14,000 Equity Shares before technical rejection and 1,48,29,000 Equity Shares after technical rejection. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE on March 03, 2023.
| A) | Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of Rs. 41/- per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1,92,000 Equity Shares, The category-wise details of the Basis of Allotment are as under: |
| No. of Shares Applied for | No. of Applications Received | % to Total | Total No. of Shares Applied | % to Total | Allocation per Applicant | Ratio of Allottees to the Applicant | Total No. of Shares Allotted |
| 1,92,000 | 1 | 100 | 1,92,000 | 100 | 1,92,000 | 1:1 | 1,92,000 |
| B) | Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs. 41/- per Equity Share, was finalised in consultation with NSE Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated In this category is 20,13,000 Equity Shares. The category was subscribed by 7.37 times. The category-wise details of the Basis of Allotment are as under: |
| No. of Shares Applied for | No. of Applications Received | % to Total | Total No. of Shares Applied | % to Total | Allocation per Applicant | Ratio of Allottees to the Applicant | Total No. of Shares Allotfed |
| 3,000 | 4,943 | 100 | 1,46,29,000 | 100 | 3,000 | 30:221 | 20,13,000 |
| c) | Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis of Allotment to the Non - Retail Investors, at the Issue Price of Rs. 41/- per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated In this category is 20,13,000 Equity Shares. The category was subscribed by 7.38 times. 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 Shares applied in each category | % to Total | Allocation per Applicant | Ratio ol Allottees to the Applicant | Total No. of Shares allocated/ allotted |
| 6,000 | 107 | 31.47 | 6,42,000 | 5.52 | 87,003 | 3,000 | 29:107 |
| 12,000 | 46 | 13.53 | 5,52,000 | 4.75 | 74,806 | 3,000 | 25:46 |
| 1,08,000 | 2 | 0.59 | 2,16,000 | 1.86 | 29,272 | 15,000 | 1:1 |
| 1,20,000 | 4 | 1.18 | 4,80,000 | 4.13 | 65,049 | 15,000 | 1:1 |
| 1,23,000 | 1 | 0.29 | 1,23,000 | 1. 06 | 16,669 | 18,000 | 1:1 |
| 1,50,000 | 3 | 0.88 | 4,50,000 | 3.87 | 60,984 | 18,000 | 1:1 |
| 1,80,000 | 1 | 0.29 | 1,80,000 | 1.55 | 24,393 | 24,000 | 1:1 |
| 2,04,000 | 1 | 0.29 | 2,04,000 | 1.76 | 27,646 | 27,000 | 1:1 |
| 2,10,000 | 1 | 0.29 | 2,10,000 | 1.81 | 28,459 | 27,000 | 1:1 |
| 2,40,000 | 1 | 0.29 | 2,40,000 | 2.07 | 32,525 | 33,000 | 1:1 |
| 2,46,000 | 2 | 0 59 | 4,92,000 | 4.23 | 66,675 | 33,000 | 1:1 |
| 3,00,000 | 1 | 0.29 | 3,00,000 | 2.58 | 40,656 | 42,000 | 1:1 |
| 3,03,000 | 1 | 0.29 | 3,03,000 | 2.61 | 41,062 | 42,000 | 1:1 |
| 3,15,000 | 1 | 0.29 | 3,15,000 | 2.71 | 42,688 | 42,000 | 1:1 |
| 3,30,000 | 1 | 0.29 | 3,30,000 | 2.84 | 44,721 | 45,000 | 1:1 |
The Board of Directors of the Company at its meeting held on March 03, 2023, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action for the allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and/ or notices shall be dispatched to the address of the investors as registered with the depositories on March 06, 2023. Further, the instructions to Self-Certified Syndicate Banks will be processed on or before March 03, 2023 for unblocking of funds. The Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the same is not received within prescribed time, investors may contact the Registrar to the Issue at the address given below The Company is taking steps to get the Equity Shares admitted for trading on the Emerge Platform of NSE within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on March 09, 2023 subject to receipt of listing and trading approvals from NSE.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated February 18.2023 ("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.bigshare.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:
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BIGSHARE SERVICES PRIVATE LIMITED |
| Office no. S6-2, 6th floor Pinnacle Business Park. Next to Ahura Centre. Mahakali Caves Road, | |
| Andheri (East) Mumbai - 400 093, Maharashtra, India, | Telephone: 022 - 6263 8200; | |
| E-mail: ipo@bigshareonline.com | Website: www.bigshare.com | |
| Investor grievance E-mail: investor@bigshareonline.com | |
| Contact Person: Mr. Swapnil Kate | |
| SEBI Registration No.: INR000001385 |
| For Srivasavi Adhesive Tapes Limited | |
| Sd/- | |
| D N Anilkumara | |
| Place: Mumbai | Managing Director |
| Date: March 06, 2023 | DIN: 02779362 |
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 SRIVASAVI ADHESIVE TAPES LIMITED
SRIVASAVI ADHESIVE TAPES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Issue of its Equity Shares and has filed Prospectus with the Registrar of Companies, Bangalore on February 18, 2023. The Prospectus is available on websites of the Company, the NSE and the Lead Manager at www.vasavitapes.com, www.nseindia.com, www.shreni.in respectively.
Applicants should note that investment in equity shares involves a high-risk and for details relating to the same, see the Prospectus, including section titled "Risk Factors" beginning on page 26 of the Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable U S. state securities law Accordingly, the Equity Shares are offered or sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as defined in Rule 144A under the U.S. Securities Act’) and (ii) Outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and applicable laws of the jurisdiction where such offers and sales occur.
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