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AKASH INFRA-PROJECTS LIMITED Our Company was originally incorporated at Gandhinagar as 'Akash Infra-Projects Private Limited' on May 14. 1999 under the provisions of the Companies Act 1956. Consequent upon the conversion of our Company to a Public Limited Company pursuanl to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on August 31, 2016 the name of our company was charged to 'Akash Infra-Projects Limited' vide fresh Certificate of Incorporation dated September 27, 2016 was issued by the Registrar of Companies, Ahmedabad, Gujarat bearing Corporate Identification Number (CIN) U45209GJ1999PLC036005. Registered office: 2 Ground Floor. Abhishek Complex.
Opp. Hotel Havell, BASIS OF ALLOTMENT PUBLIC ISSUE OF 20,40.000 EQUITY SHARES OF RS 10/- EACH ('EQUITY SHARES') OF AKASH INFRA-PROJECTS LIMITED ('AIPL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS, 125/- PER SHARE (THE 'ISSUE PRICE'), AGGREGATING TO RS 2550.00 LACS ('THE ISSUE'), CONSISTING OF FRESH ISSUE OF 12,67,200 EQUITY SHARES AGGREGATING TO RS 1584.00 LAKHS AND AN OFFER FOR SALE OF 7,72.800 EQUITY SHARES AGGREGATING TO RS 966.00 LAKHS ('OFFER FOR SALE), COMPRISING OF 3,86,400 EQUITY SHARES BY MR. YOGINKUMAR PATEL AND 3.86,400 EQUITY SHARES BY MR. AMBUSINH GOL ('COLLECTIVELY REFERRED AS SELLING SHAREHOLDERS AND PROMOTERS') THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 19.32,000 EQUITY SHARES AGGREGATING TO RS 2415.00 LAKHS (THE 'NET ISSUE') AND A RESERVATION OF 1,08,000 EQUITY SHARES AGGREGATING TO RS 135.00 LAKHS FOR SUBSCRIPTION BY THE MARKET MAKERS TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'),THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.88% AND 25.46%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. In terms of Prospectus dated February 22, 2017 and as per Regulation 43 {A) of SEBI (ICDR) Regulations. 2009 wherein a minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to a) individual applicants other than retail investors and b) other investors including corporate bodies / institutions irrespective of no. of shares applied for. Explanation; For the purpose of Regulation 43 (4) of SEBI (ICDR) Regulations. 2009, if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual Investors shall be allocated that higher percentage. THE FACE VALUE OF THE EQUITY SHARES IS RS 10/- EACH AND THE ISSUE PRICE IS RS 125/- EACH INCLUDING A SHARE PREMIUM OF RS 115 PER EQUITY SHARE. THE ISSUE PRICE IS 12.5 TIMES OF THE FACE VALUE THE ISSUE OPENED ON FEBRUARY 28, 2017 (TUESDAY) AND CLOSED ON MARCH 6, 2017 {MONDAY). The Equity Shares offered through the Prospectus are proposed to be listed on the Emerge ptatform of National Stock Exchange of India Limited. 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 February 20,2017 from the National Stock Exchange of India Limited ('NSE') for using its name in the offer document for listing of our Shares on the SME platform of National Stock Exchange of India Limited. The designated stock exchange is the National Stock Exchange of India Limited ('NSE'). SUBSCRIPTION DETAILS Details of Applications:
Out of total 25 applications received, 23 applications in Retail Individual Investor Category and 2 applications in Other than Retail Individual Investor Category were rejected on technical grounds. Further, there was no withdrawal of application in any of the category. LLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange Limited on March 9. 2017. A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs 125/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.00 time. The total number of shares allotted in this category is 1.08.000 Equity shares in full, out of reserved portion of 1,08,000 Equity Shares. B. Allocation to Retail Individual Investors (After Technical Rejections &. Withdrawal, If any): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs 125/- per Equity Share, was finalized in consultation with NSE. The category was subscribed by 1.85 times. Total number of shares allotted in this category is 9.66,000 Equity Shares as under;
C. Allocation to Non Retail Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to the Non Retail Investors, at the issue price of Rs 125/- per Equily Share, was finalized in consultation with NSE. The category was subscribed by 1.91 times. Total number of shares allotted in this category is 9.66.000 Equity Shares. The category wise basis of allotment is as under:
The Board of Directors of the Company at its meeting held on March 9,
2017 has taken on record the Basis of Allocation of Equity Shares approved by the
Designated Stock Exchange viz. NSE and has authorized the corporate action for the
transfer of the Equity Shares / dispatch of share certificates to various successful
applicants. INVESTOR PLEASE NOTE The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Purva Sharegistry (India) Pvt. Ltd. at www.purvashare.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: PURVA SHAREGISTRV (INDIA) PVT, LTD.
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The IPO allocation is based on the subscription level and the investor category.
Refer to IPO allotment rules and methods for more details.
See the basis of allotment document above to know how the shares are allocated in Akash Infra Projects IPO .
The Akash Infra Projects IPO basis of allotment (published above) tells you how shares are allocated to you in Akash Infra Projects IPO and category wise demand of IPO share.
Visit the Akash Infra Projects IPO allotment status page to check the number of shares allocated to your application.
In Akash Infra Projects IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.
For more information, please refer to IPO Allotment Process and Basis of Allotment.
Check the Akash Infra Projects IPO basis of allotment document to know how the shares are allocated in Akash Infra Projects IPO.
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