Ganga Forging (GFL) IPO Basis of Allotment

(This is only an advertisement for Information purpose. This is not a Prospectus announcement and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.Not for publication or distribution, directly or indirectly outside India.)

GANGA FORGING LIMITED

Our Company was originally incorporated as 'Ganga Forgoing Private Limited' at Rajkot, Gujarat, as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated December 29,1988 bearing registration number 04-11694 issued by the Registrar of Companies, Gujarat. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our shareholders at the extraordinary general meeting held on October 5,2017 and the name of our Company was changed to 'Ganga Forging Limited'. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the Registrar of Companies, Ahmedabad on October 30,2017.The Corporate Identification Number of our Company is U28910G J1988PLC011694.For further details of Incorporation, Change of Name and Registered Office of our company, please refer to chapter titled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 63 and 151 of the Prospectus.

Registered Office: Plot No 1 SNO 298 & 30 Rajkot Gondal N H, Veraval (Shapar) Rajkot, Gujarat360 024, India; Tel No.: +912827-252208 /252077;
Fax No.: +91 2827-252208; E-mail: info@gangaforging.com Website: www.gangaforging.com; Corporate Identification Number: U28910GJ1988PLC011694; Contact Person: Minal Lakhlani, Company Secretary and Compliance Officer.

PROMOTER OF OUR COMPANY: HIRALAL TILVA AND RAKESH PATEL

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 23,82,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ('EQUITY SHARES') OF GANGA FORGING LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 21/-PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 11/- PER EQUITY SHARE (THE 'ISSUE PRICE'), AGGREGATING RS. 500.22 LAKHS ('THE ISSUE'), OF WHICH 1,26,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 21/- PER EQUITY SHARE, AGGREGATING RS. 26.46 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE 'MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 22,56,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 21/- PER EQUITY SHARE, AGGREGATING RS. 473.76 LAKHS IS HEREIN AFTER REFERED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE UP TO 29.97% AND UPTO 28.39% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.
In terms of Prospectus dated June 20,2018 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein
(a) minimum of 50% of the Net Issue to Public shall initially be made available to Retail Individual Investors.
(b) the balance net Issue of shares to the public shall be made available for allotment to
(i) individual applicants other than retail investors and
(ii) other investors including corporate bodies / institutions irrespective of no. of shares applied for.
(c) the unsubscribed portion of the net Issue to any one of the categories specified in (a)or(b) shall/maybe madeavailable for allocation in any other category.if so required.
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. All Investors have participated in this Issue through ASBA process. For detai Is in this regards, specific attention is invited to chapter 'Issue Procedure' on page 239 of the Prospectus.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE OF RS. 21/- IS 2.1 TIMES OF THE FACE VALUE OF THE EQUITY SHARES.ISSUE OPENED ON FRIDAY, JUNE 29,2018 AND CLOSED ON TUESDAY, JULY 3,2018.

The Equity Shares offered through the Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited ('NSE EMERGE'). In terms of the Chapter XB of the SEBI (ICDR) Regulations, 2009 as amended from time to time, our Company has received an in principle approval letter dated June 13,2018 from National Stock Exchange of India Limited for using its name in the issue Document for listing of our Shares on EMERGE Platform of National Stock Exchange of India Limited. The designated stock exchange is National Stock Exchange of India Limited.

SUBSCRIPTION DETAILS

The Issue has received 518 applications for 34,20,000 Equity shares (Before Technical Rejections but after Bids not Banked, invalid bids duplicate and invalid bids multiple) (including Market Maker Application of 1,26,000 Equity Shares) resulting 1.44 times subscription.After considering, Technical Rejection cases the issue was subscribed 1.43 times (including the Market Maker Portion). The details of application received (Before Technical Rejection but after Bids not Banked and Invalid Duplicate Bids and Invalid Multiple Bid

The details of applications rejected by the Registrar on technical grounds are detailed below:

Detail of the Applications Received (After Technical Rejection):

'the subscription for retail individual investor's category under the revised subscription column has been calculated after considering the spill over of unsubscribed portion of 8,34,000 equity shares from other than retail individual investor's category.

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited on July 6,2018.

A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 21/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited.The category was subscribed by 1.00 times.The total number of shares allotted in this category is 1,26,000 Equity Shares in full out of reserved portion of 1,26,000 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. 21/- per Equity Share, was finalized in consultation with National Stock Exchanae of India Limited. The category was subscribed by 2.64 times. Total number of shares allotted in this category is 19.62.000 Equity Shares. The category wise basis of allotment is as under:

# includes original reservation of 11 ,28,000 equity shares and spill over of 8,34,000 equity shares from other than retail individual investors category.

C. Allocation to Other than Retail Individual Investor (After Technical Rejection): The Basis of Allotment to other than Retail Individual Investors, at the issue price of  Rs21/-per Equity Share,was finalized in consultation with National Stock Exchange of India Limited.The category was subscribed by 0.26 times. Total number of shares allotted in this category is 2,96,000 Equity Shares. The category wise basis of allotment is as under:

The  board of  Directors of the Company at its meeting held on July 6, 2018   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 authorized corporate action for allotment of shares in dematerialized form to various successful applicants.

The CAN and allotment advice and/or notices shall be dispatched to the address of the Applicants as registered with the depositories /as filled in the application form. Further, the instructions to SCSBs shall be issued on July 6, 2018 for unblocking of funds. 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. 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 National Stock Exchange of India Limited within six working days from the date of the closure of the Issue. The trading is proposed to commence on or before July 11,2018 subject to receipt of listing and trading approval from National Stock Exchange of India Limited.

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue at www.linkintime.co.in. All future correspondence in this regard may kindly be addressed to the Registrar quoting full name of the First/ Sole applicant, 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:

LINIKINTIME INDIA PRIVATE LIMITED
C-101,1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai-400 083 India.
Tel: 022-4918 6200; Fax: 022-4918 6195; Email: gangaforging.ipo@linkintime.co.in
Website: www.linkintime.co.in; Investor Grievance Id: gangaforging.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan; SEBI Registration No: INR000004058

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 GANGA FORGING LIMITED
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.