Abans Holdings IPO Basis of Allotment

ABANS HOLDINGS LIMITED

Our Company was originally incorporated as "Abans Vanijya Private Limited" on September 24, 2009 at Kolkata, West Bengal as a private limited company under the Companies Act, 1956 with the Registrar of Companies, West Bengal. Subsequently, the name of our Company was changed to "Abans Holdings Private Limited" vide special resolution passed by the shareholders of our Company in their meeting held on November 20, 2019 and a fresh Certificate of Incorporation consequent to the change of name was granted to our Company on December 05, 2019, by the Registrar of Companies, Mumbai. Further; our Company was converted into Public Limited Company pursuant to special resolution passed by the shareholders of our Company In their meeting held on April 28, 2021 and the name of our Company was changed to "Abans Holdings Limited" and a Fresh Certificate of Incorporation consequent upon conversion of Company to Public Limited dated May 19, 2021 was issued by Register of Companies, Mumbai For further details, please refer to the chapter "History and Certain Corporate Maters" beginning on page no. 138 of the Prospectus).

Our Company has filed the Prospectus dated December 17, 2022 with the Registrar of Companies, Mumbai of ("RoC ") and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE" and together with NSE, the "Stock Exchanges") and trading is expected to commence on December 23, 2022.

INITIAL PUBLIC OFFER OF 1,28,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 2 EACH ("EQUITY SHARES") OF ABANS HOLDINGS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 270 PER EQUITY, AGGREGATING TO Rs. 34,560,00 LAKH ("THE OFFER") COMPRISING OF A FRESH ISSUE OF 38,00,000 EQUITY SHARES AGGREGATING TO Rs. 10,26,000 LAKH (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 90,00,000 EQUITY SHARES BY MR. ABHISHEK BANSAL ("THE PROMOTER SELLING SHAREHOLDER") AGGREGATING TO Rs. 24,300,00 LAKH ("OFFER FOR SALE").

The Offer was made through the Book Building Process, in terms of Rule 19(2){b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBIICDR Regulations and through the Book Building Process, wherein not more than 10% of the Offer were made available for allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"), Further, 5% of the QIB Portion were made available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Portion were made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 30% of the Offer were made available for allocation to Non-Institutional Bidders ("Non-Institutional Category") of which one-third of the Non-Institutional Category were made available for allocation to Bidders with an application size of more than Rs. 2,00,000 and up to Rs. 10,00,000 and two-third of the Non-Institutional Category were made available for allocation to Bidders with an application size of more than Rs. 10,00,000 and under-subscription in either of these two sub-categories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non- Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further not less than 60% of the Offer were made available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders are required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process and shall provide details of their respective bank account (including UPI ID, in case of UPI Bidders) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks ("SCSBs") or the Sponsor Bank, as the case may be. For details, see "Offer Procedure" on page 330 of the Prospectus.

There was no Anchor bidding in the IPO. The Offer received 45,973 banked applications for 1,40,30,005 Equity Shares (before technical rejections) resulting in 1.10 times subscription. The details of the banked applications received in the Offer from various categories are as under (before technical rejections).

Detail of the Applications Received

Final Demand

A summary of the final demand (banked) as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE Limited on December 20, 2022.

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at the Offer Price of Rs. 270 per Equity Share, was finalized in consultation with BSE. The category has been subscribed to the extent of 0.39 times. The total number of Equity Shares Allotted in this category is 29,60,375 Equity Shares to 43,336 successful applicants. Unsubscribed portion of 47,19,625 Equity Snares spilled over to QIB & NIB (more than Rs.10,00,000) categories. The category-wise details of the Basis of Allotment are as under:

The Basis of Allotment to the Non-Institutional Bidders (more than Rs. 10,00,000), who have bid at the Offer Price of Rs. 270 per Equity Share, was finalized in consultation with the BSE. The category has been subscribed to the extent of 1.00 times. The total number of Equity Shares Allotted in this category is 55,00,990 Equity Shares to 190 successful applicants (including spilled over of 29,40,990 Equity Shares from Retail & Non-Institutional Bidders (more than 7 2,00,000 and up to Rs. 10,00,000) categories). The category-wise details of the Basis of Allotment are as under (sample basis):

The Basis of Allotment to the QIBs, who have bid at the Offer Price of Rs. 270 per Equity Share, was finalized in consultation with the BSE. The category has been subscribed to the extent of 1.25 times. As per the SEBI Regulations. Mutual Funds were allocated 5% of the Equity Shares of QIB portion available (including unsubscribed portion of Retail category) and balance portion to other QIBs. The unsubscribed portion in the Mutual Fund reservation will be available for allocation to QIBs on a proportionate basis. There was no application from any Mutual Fund in the IPO. The total number of Equity Shares Allotted in this category is 41,89,750 Equity Shares to 7 successful applicants (including spilled over of 29,09,750 Equity Shares from Retail Category).

The Board of Directors of our Company at its meeting held on December 20, 2022 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 applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued/ mailed for unblocking of funds and transfer to the Public Offer Account on December 21, 2022 and the payments to non-syndicate brokers have been issued on December 21, 2022. 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 December 21, 2022 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 BSE and NSE on December 21, 2022. Our Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within 6 working days of the closure of the Offer and trading is expected to commence on December 23, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated December 17, 2022 filed with the Registrar of Companies, Mumbai ("RoC").

The details of the allotment made has been hosted on the website of the Registrar to the Offer, Bigshare Services Private Limited at Website: www.bigshareonline.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

	BIGSHARE SERVICES PRIVATE LIMITED
	Office No. S6-2,6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre, Andheri (East), Mumbai, Maharashtra - 400 093
	Tel. No.: +91-22 - 6263 8200
	Email: ipo@bigshareonline.com | Website: www.bigshareonline.com
	Contact Person: Mr. Babu Raphael | SEBI Registration No.: INR000001385

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 ABANS HOLDINGS LIMITED.

ABANS HOLDINGS LIMITED has filed a Prospectus dated December 17, 2022 with the Registrar of Companies, Mumbai ("RoC") and thereafter with SEBI and the Stock Exchanges. The Prospectus shall be available on the website of the SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and the websites of the book running lead manager to the Offer, Aryaman Financial Services Limited at www.afsl.co.in. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see the Risk Factors on page 23 of the Prospectus. Potential investors should not rely on the DRHP filed with SEBI for any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.