Nanavati Ventures IPO Basis of Allotment

	NANAVATI VENTURES LIMITED
	CIN: U51109GJ2010PLC061936

Our Company was originally incorporated as "Nanavati Ventures Private Limited" under Companies Act, 1956 vide Certificate of Incorporation dated August 10, 2010 issued by Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli under CIN U51109GJ2010PTC061936. The name of the Company changed from "Nanavati Ventures Private Limited" to "Nanavati Ventures Limited" pursuant to special resolution passed by the Shareholders at its Extra Ordinary General Meeting held on July 30, 2020 and a fresh certificate of Incorporation consequent upon conversion from Private Company to Public Company was issued by the Registrar of Companies, Ahmedabad dated August 14, 2020 under CIN U51109GJ201QPLC061936. For details pertaining to the changes of name of our company and change in the registered office, please refer to the chapter titled 'Our History and Certain Corporate Matters' beginning on page no. 86 of the Prospectus.

INITIAL PUBLIC ISSUE OF UPTO 4,38,000* EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH ("EQUITY SHARES") OF NANAVATI VENTURES LIMITED ("OUR COMPANY" OR "THE ISSUER COMPANY") FOR CASH AT A PRICE RS.50/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 40/- PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS. 219.00 LAKHS ("THE ISSUE"), OF WHICH 24,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR A CASH PRICE OF RS. 50/- PER EQUITY SHARE, AGGREGATING TO RS. 12.00 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 4,14,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT AN ISSUE PRICE OF RS. 50.00 PER EQUITY SHARE AGGREGATING TO RS. 207.00 LAKHS (IS HEREINAFTER REFERRED TO AS THE "NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 26.58% AND 25.12%, RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

Issue Size has been increased for 2,000 Equity Shares for the purpose of rounding off as per Regulation 268 of SEBI (ICDR) Regulation, 2018, as amended from time to time and as approved by the BOD resolution dated 29-08-2020 and AGM resolution dated 30-09-2020.

PROPOSED LISTING: MAY 06, 2022*

The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited (''BSE") in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an in Principal approval letter dated November 25, 2021 from BSE Limited ("BSE") for using its name in the Offer Document for listing of our shares on the SME Platform of BSE. It is to be distinctly understood that the permission given by BSE Limited ("BSE") should not in any way be deemed or construed that the content of the Prospectus or the price at which the equity share are offered has been cleared, solicited or approved by BSE, nor does it certify the correctness, accuracy or completeness of any of the content of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to BSE. For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced on or about May 06, 2022*.

*Subject to the receipt of, listing and trading approval from the BSESME Platform.

All Applicants were allowed to participate in the Issue either through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs") or through UPI Mechanism.

SUBSCRIPTION DETAILS

The issue has received 1,785 applications for 7,758,000 Equity shares resulting in 17.71 times subscription (including reserved portion of Market maker).

The details of applications received in the issue (before technical rejections but after excluding bids not banked) are as follows:

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

After eliminating technically rejected applications, the following table gives us category wise net valid applications:

Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on May 02, 2022.

A. Aallocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 50/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.00 times. The total number of shares allotted in this category is 24,000 Equity Shares to 1 successful applicant.

The Category-wise details of the Basis of Allotment are as under:

B. Allocation lo Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 50/- per Equity Share, was finalised in consultation with BSE. The category was subscribed by 18.3182 times. The total number of shares allotted in this category is 264,000 Equity Shares to 88 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 the Other than retail Individual Investors, at the issue price of Rs. 50/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 18.5400 times. The total number of shares allotted in this category is 150,000 Equity Shares to 30 successful applicants.

The Category-wise details of the Basis of Allotment are as under:

The Board of Directors of the Company at its meeting held on May 02, 2022 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for allotment of the Equity Shares to various successful applicants.

The Refund/allotment intimation will be dispatched to the address of the Applicants as registered with the depositories on or about May 05, 2022. Further, the instructions to Self Certified Syndicate Banks for unblocking the funds have been shared on May 02, 2022. In case the same is not received within ten days, investors may contact Registrar 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 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 meaning assigned to them in the Prospectus dated April 16, 2022 ("Prospectus").

In terms of Prospectus dated April 16, 2022 and as per Regulation 253 of SEBI (ICDR) Regulations, 2018 wherein a minimum of 50% of the Net issue of shares to Public shall initially be made available for allotment to a) Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to b) individual applicants other than retail investors and other investors including corporate bodies / institutions irrespective of number of shares applied for. The unsubscribed portion of the net issue to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required. Explanation: Chapter IX, part VIII (253) of SEBI (ICDR) Regulation, 2018. 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.

INVESTORS PLEASE NOTE:

The details of the allotment made would also be hosted on the website of the Registrar to the Issue KFIn Technology Limited at www.kfintech.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:

	KFIN TECHNOLOGIES LIMITED
	Selenium Tower -B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad-500 032, Telangana, India.
	Tel. No.: +91 40 6716 2222; Fax No.: +91 40 2343 1551; E-mail: nvl.ipo@kfintech.com;
	Investor Grievance Email: einward.ris@kfintech.com; Website: www.kfintech.com;
	Contact Person: Mr. M Murali Krishna; SEBI Registration No.: INR000000221;

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 NANAVATI VENTURES LIMITED.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "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 Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in 'offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sales are made. There will be no public offering in the United States.