Meera Industries IPO Basis of Allotment

MEERA INDUSTRIES LIMITED
CIN: U29298GJ2006PLC048627

Our Company was originally incorporated as Meera Industries Private Limited on July 05, 2006 with the Registrar of Companies. Gujarat, Dadra and Nagar Havelli as a private limited company under the provisions of the Companies Act, 1956. Subsequently our Company was converted into public limited Company pursuant to shareholders resolution passed at the Extra-Ordinary General Meeting held on February 25, 2017 and the name of our Company was changed to Meera Industries Limited. A fresh certificate ot incorporation consequent upon conversion to public limited Company was issued by the Registrar of Companies, Ahmedabad on March 09, 2017. For further details of our Company, please refer 'General information' and 'History and Certain Other Corporate Matters on page numbers 30 and 75. respectively, of the Prospectus

Registered Office: 2126, Road No 2. GIDC, Sachin, Surat Gujarat 394230. India | Tel.: + 91-261-2399114 | Fax: +91-261-2397269
Contact Person: Parvez A. Shaikh. Company Secretary and Compliance Officer | Email: cs@meeraind.com   | Website: www.meeraind.com

PROMOTERS OF OUR COMPANY: DHARMESH V. DESAI AND BIJAL D. DESAI

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 10,80,000 EQUITY SHARES OF FACE VALUE OF RS 10.00 EACH OF MEERA INDUSTRIES LIMITED ('OUR COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 36.00 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 26.00 PER EQUITY SHARE) ('ISSUE PRICE') AGGREGATING TO RS. 388.80 LAKHS ('THE ISSUE'). OF THE ISSUE, 60,000 EQUITY SHARES AGGREGATING TO RS 21.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER ('MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,20,000 EQUITY SHARES OF FACE VALUE OF RS 10 00 EACH AT AN ISSUE PRICE OF RS 36.00 PER EQUITY SHARE AGGREGATING TO RS 367.20 LAKHS IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE' THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.50% AND 25.97%. RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY FOR FURTHER DETAILS. PLEASE REFER 'TERMS OF THE ISSUE' ON PAGE 154 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 161 OF THE PROSPECTUS.

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 from time to time. Our Company has received an approval letter dated Apm 20,2017 from BSE Limited for using its name in the offer document for listing of our Shares on the SME platform ol BSE Limited. The designated stock exchange is BSE Limited ('BSE') The trading is proposed to be commenced on or about May 15,2017*.

*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 2,824 applications for 9,519,000 Equity Shares (before technical rejections but after invalid bids not banked/blocked) (including Market maker Application of 60 000 Equity Shares) resulting in 8.81 times subscription After considering, a Technical Rejection case, the issue was subscribed 8.65 times (including the Market Maker Portion) The details of the applications received in the issue (before techmcal rejections) are as follows

Detail of the Applications Received (Before Technical Rejeclion):

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

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 - BSE Limited on May 09, 2017.

A. Allocation to Market Maker (After Technical Rejections & Withdrawal): The Basis of Allotment to the Market Maker, at the Issue price of Rs 36 per Equity Share, was finalised in consultation with BSE. The category was subsenbed by 1.00 times. The total number of shares allotted in this category is 60,000 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 36 per Equity Share, was finalized in consultation with BSE. The category was subsenbed by 9.07 times. Total number of shares allotted in this category is 8,94,000 Equity Shares to 298 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 36 per Equity Share, was finalized in consultation with BSE. The category was subsenbed by 9.26 times Total number of shares allotted in this category is 1,26,000 Equity Shares to 29 successful applicants.

The category wise basis of allotment is as under:

The Board of Directors of me Company at its meehng held on May 09, 2017 has taken on record the Basis ol Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE and has authorized the corporate action tor allotment of shares in dematerialized form to various successful applicants.

The CAN and allotment advice and/or rejection letters are being dispatched to the address of the Applicants as registered with the depositories/ as filled in the application form on May 11, 2017. further, the instructions to Self Certified Syndicate Banks being proceesed on May 09,2017. 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 category is taking steps to get the Equity Shares admitted for trading on the SME Platform of 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 April 21, 2017 ('Prospectus')

INVESTOR PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the issue Karvy Computershare Private Limited at www.karisma.karvy.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:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B. Plot 31-32, Gachibowli Financial District. Nanakramguda. Hyderabad - 500 032
Tel: +91 40-67162222 Fax: +91 40-23431551; E-mail: einward.ris@karvy.com
Investor grievance e-mail: meeraindustries.ipo@karvy.com   Website: www.karisma.karvy.com
Contact Person: Mr. M Murli Krishna: SEBI Registration No.: INR000000221