Bhakti Gems and Jewellery IPO Basis of Allotment

BHAKTI GEMS AND JEWELLERY LIMITED

CIN: U36910GJ2010PLC060064

Our Company was originally incorporated as Bhakti Gems And Jewellery Private Limited under the provisions of the Companies Act, 1956 pursuant to Certificate of Incorporation issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Havelli on March 30, 2010. Subsequently, our Company was converted into a public limited Company pursuant to special resolution passed at the Extra Ondinary General Meeting of our Company held on December 30, 2016 and the name ot our Company was changed to Bhaki Gems And Jewellery Limited and a Fresh Certificate of Incorporation dated January 18, 2017 was issued by the Registrar of Companies, Ahmedabad. For further details of our Company, please refer 'General Information' and 'History and Certain Other Corporate Matters' on page numbers 32 and 73, respectively, of the Prospectus.

Registered Office: 209, Shree Balaji Paragon, B/S Rock Regency Hotel, Opposite Axis Bank, near circle - P, C. G Road, Ahmedabad -380009,
Gujarat, India. Contact Person: Nirav A. Shah, Company Secretary and Compliance Officer
Tel.: + 91 7926421701 | Email: compliancebhakti@gmail.com   Website: www.bhaktijewellery.com

PROMOTERS OF OUR COMPANY: AKSHAY S. MEHTA AND VAPSHABEN A. MEHTA

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 19,62,000 EQUITY SHARES OF A FACE VALUE OF RS. 10.00 EACH OF BHAKTI GEMS AND JEWELLERY LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS. 20.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 10 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS. 392.40 LAKHS ('THE ISSUE'). OF THE ISSUE 1,02,000 EQUITY SHARES AGGREGATING TO RS. 20.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 18,60,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH AT AN ISSUE PRICE OF RS. 20.00 PER EQUITY SHARE AGGREGATING TO RS. 372.00 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.79 % AND 27.30 %, RESPECTIVELY OF THE POST ISSUE PAID EQUITY SHARE CAPITAL OF OUR COMPANY.FOR FURTHER DETAILS, PLEASE REFER 'TERMS OF THE ISSUE' OH PAGE 141 OF THE PROSPECTUS.
THIS ISSUE IS BEING MADE IN TERMS OF CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009(THE 'SEBI ICDR REGULATIONS'), AS AMENDED. THIS ISSUE IS A FIXED PRICE ISSUE AND ALLOCATION IN THE NET ISSUE TO THE PUBLIC WILL BE MADE IN TERMS OF REGULATION 43(4) OF THE SEBI (ICDR) REGULATIONS, 2009, AS AMENDED. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED 'ISSUE PROCEDURE' BEGINNING ON PAGE 148 OF THE PROSPECTUS.

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH AND
THE ISSUE PRICE IS RS. 20.00. THE ISSUE PRICE IS 2.00 TIMES OF THE FACE VALUE.
ISSUE OPENED ON WEDNESDAY, MAY 17, 2017 AND CLOSED ON MONDAY, MAY 22, 2017.

The Equity Shares offered through the Prospectus are proposed to be listed on the SME platform of BSE Limited ('BSE SME') in terms of the chapter XB of the SEBI (ICDR) Regulations, 2009 as amended frorn time to time. Our Company has received an approval letter dated April 28, 2017 from BSE Limited for using its name in the after document for listing of our Shares on the SME platform of BSE Limited. The designated stock exchange is BSE Limited ('BSE'). The trading is proposed to tie commenced on or about May 30, 2017*.

* Subject to receipt of listing and trading approvals from BSE Limited.

All Applicants were allowed to participate in the Issue through Application Supported by Blocked Amount ('ASBA') process by providing the details of the respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the 'SCSBs').

SUBSCRIPTION DETAILS

The Issue has received 482 applications for 38,40,000 Equity Shares (Before Technical Rejections but after invalid bids and bids not banked/blocked) (including Market Maker Application of 1,02,000 Equity Shares) resulting in 1.96 times subscription. After considering, a Technical Rejection case, the issue was subscribed 1.91 times (including the Market Maker Portion). The details of the applications received in the issue (before technical rejections) are as follows:

Detail of the Applications Received (Before Technical Rejection):

The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:

After eliminating, technically rejected applications, the following tables qive us category wise net valid applications:

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange- BSE Limited on May 25, 2017.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs. 20 per Equity Share, was finalised in consultation wish BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 1,02,000 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. 20 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.96 times. Total number of shares allotted in this category is 13,92,000 Equity Shares to 232 successful applicants.

The category wise details of the Basis of Allotment are as under:

C.Allocation to Other than Retail Individual Investors (After Technical Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, at the issue price of Rs. 20 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.97 times. Total number of shares allotted in this category is 4,68,000 Equity Shares to 12 successful applicants.

The category wise basis of allotment is as under:

The Board of Directors of the Company at its meeting held on May 25, 2017 has taken on record the Basis of Allocation ol Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action for allotment of shares in dematerialized form to various successful applicants.

The CAN and allotment advice and/or reiectjon letters are being dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on May 27, 2017. Further, the instructions to Self Certified Syndicate Banks being processed in May 26, 2017. In case the same is not received within prescribed time, investors may contact 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 the SME Platform ot BSE Limited 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 meanings assigned to them in the Prospectus dated May 08, 2017 ('Prospectus')

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue SKYLINE FINANCIAL SERVICES PRIVATE LIMITED at www.skylinerta.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:

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
A49, Gundecha Onclave, Kherani Road, Sakinaka, Mumbai-400 072.
Tel: + 91 -22- 28511022 / 62215779 
Email: mumbai@skylinerta.com | Website: www.skylinerta.com
Investor grievance e-mail: grievances@skylinerta.com
Contact Person: Mr. Subhash Dhingreja | SEBI Registration No.: INR000003241