Aarvi Encon IPO Basis of Allotment

AARVI ENCON LIMITED

Corporate Identification Number: U29290MH1987PLC045499

Our Company was incorporated as Aarvi Encon Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated December 03,1987 in Mumbai. Subsequently, the name of our Company was changed to Aarvi Encon Limited pursuant to conversion into a public company vide Shareholders' approval on June 13,2017 and fresh certificate of incorporation dated July 05,2017. The Corporate Identification Number of Our Company is U29290MH1987PLC045499. For details of change in registered office of our Company please refer to chapter titled 'Our History and Certain Other Corporate Matters' beginning on page 137 of the Prospectus.

Registered Office: 603, B1 Wing, Marathon Innova, Marathon Nextgen Complex, Lower Parel (West), Mumbai - 400013, Maharashtra, India.
Tel No.: (022) 40499999 | Fax No.: (022) 40499998 | E-mail: info@aarviencon.com | Website: www.aarviencon.com
Contact Person: Mr. Jaydev Virendra Sanghavi, Executive Director

PUBLIC ISSUE OF 39,34,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH FULLY PAID UP OF AARVI ENCON LIMITED ('AARVI' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS 54 PER EQUITY SHARE (THE 'ISSUE PRICE') (INCLUDING A SHARE PREMIUM OF RS 44 PER EQUITY SHARE AGGREGATING RS 2124.36 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 37,36,000 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 26.61% AND 25.27% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY 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 273 OF THE PROSPECTUS.

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 21,2017 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 to be commenced with effect from Thursday, October 05,2017.*
*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 602 applications for 5508000 Equity Shares resulting in 1.40 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 29,2017.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs 54 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 54 per Equity Share, was finalized in consultation with NSE. The category was subscribed by 0.59 times. The total number of shares allotted in this category is 1108000 Equity Shares to 554 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

* The under subscribed 7,60,000 Equity Shares from Retail Individual Investors Category have been spilled over to Other than Retail Individual Investors Category.

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 54 per Equity Share, was finalized in consultation with NSE. The category was subscribed 1.60 times. The total number of shares allotted in this category is 2628000 Equity Shares to 42 successful applicants.
The Category-wise details of the Basis of Allotment are as under:

* Includes original reservation of 1868000 Equity Shares and spill over from Retail Individual Investers Category of 7,60,000 Equity Shares.
The Board of Directors of the Company at its meeting held on September 29,2017 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 October 04,2017. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount are being processed on or prior to October 04,2017. 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 September 14,2017 ('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 Bldg, 1st Floor, Opp. Vasant Oasis Makwana Road, Marol, (Andheri East), Mumbai-4000059.
Tel: +91 22 62638200; Fax: +91 22 62638299; E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com; Contact Person: Mr. Ashok Shetty; SEBI Registration No.: INR000001385