April 11, 2017 - April 17, 2017

Panache Digilife IPO Basis of Allotment

PANACHE DIGILIFE LIMITED

(Formerly known as VARDHAMAN TECHNOLOGY LIMITED)

Our Company was originally incorporated as 'Vardhaman Technology Private Limited' at Mumbai, Maharashtra as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 30, 2007 bearing Corporate Identification Number U72200MH2007PTC169415 issued by Registrar of Companies, Maharashtra, Mumbai. Subsequently, our Company was converted into Public Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of our Company held on January 23,2017 and the name of our company was changed to 'Vardhaman Technology Limited' and a fresh Certificate of Incorporation Consequent upon Conversion from Private Company to Public Company dated February 15,2017 was issued by the Registrar of Companies, Mumbai, Maharashtra. Further, the name of our Company was changed to 'Panache Digilife Limited' and a Certificate of Incorporation pursuant to change of name dated February 22,2017 was issued by the Registrar of Companies, Maharashtra, Mumbai. The Corporate Identification Number (CIN) of our Company is U72200MH2007PLC169415. For details of incorporation, change of name and registered office of our Company, please refer to chaptertitled 'General Information' and 'Our History and Certain Other Corporate Matters' beginning on page 66 and 167 respectively of the Prospectus.

Registered Office: Unit No. 201/8, Raheja Plaza-1, L.B.S. Marg, Ghatkopar (West), Mumbai - 400086, Maharashtra.
Tel. No.: +91 22-25007502; Fax No.: +91 22-25007502; E-mail: compliance@panachedigilife.com; Website: www.panachedigilife.com
Contact Person: Jinkle Khimsaria, Company Secretary and Compliance Officer

PROMOTERS OF OUR COMPANY: AMIT RAMBHIA & NIKIT RAMBHIA

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER CONSISTING OF FRESH ISSUE OF 18,00,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FULLY PAID FOR CASH AT A PRICE OF RS. 81 PER EQUITY SHARE (THE 'ISSUE PRICE') (INCLUDING A SHARE PREMIUM OF RS. 71 PER EQUITY SHARE) AGGREGATING UP TO RS. 1,458.00 LAKHS (THE 'ISSUE'), OF WHICH 92,800 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 81/- PER EQUITY SHARE, AGGREGATING RS. 75.17 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 17,07,200 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 81/- PER EQUITY SHARE, AGGREGATING RS. 1,382.83 LAKHS IS HEREINAFTER REFERED TO AS THE 'NET ISSUE'. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.00% AND 28.45% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

RISKS TO INVESTORS:

1. As on date of the Prospectus, the average cost of acquisition per Equity Share by our Promoters viz. Nikit Rambhia is Rs 0.71 and Amit Rambhia is Rs. 0.71 In terms of Prospectus dated April 18,2017 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein
(a) minimum of 50% of the Net Offer to Public shall initially be made available to Retail Individual Investors
(b) the balance net offer 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 offer 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: 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 offer through ASBA process. For details in this regards, specific attention is invited to chapter 'Issue Procedure' on page 287 of the Prospectus.

THE FACE VALUE OF EQUITY SHARES IS RS. 10/- EACH.
THE ISSUE PRICE IS RS. 81/- AND IS 8.1 TIMES THE FACE VALUE OF THE EQUITY SHARES
ISSUE OPENED ON: TUESDAY, APRIL 11, 2017 AND CLOSED ON: MONDAY, APRIL 17, 2017

The Equity Shares of our Company issued 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 approval letter dated March 21,2017 from NSE for using its name in the Issue document for listing of our shares on the EMERGE Platform of National Stock Exchange of India Limited. For the purpose of this Issue, EMERGE Platform of the National Stock Exchange of India Limited shall be the Designated Stock Exchange.

SUBSCRIPTION DETAILS

The Issue has received 1,491 applications for 41,74,400 Equity shares (Before Technical Rejections, bids not banked and invalid duplicate bids) including Market Maker Application of 92,800 Equity Shares. The issue was subscribed to the extent of 2.32 times as per the application data (before technical rejection, bids not banked and invalid duplicate bids). After considering the technical rejections cases, the issue was subscribed 2.21 times. The details of application received (Before Technical Rejection but after bids not banked and invalid duplicate bids)

CATEGORY	NUMBER OF APPLICATIONS	NUMBER OF EQUITY SHARES	SUBSCRIPTION
Market Makers	1	92,800	1.00
Other than Retail Individual Investors	63	16,89,600	1.98
Retail Individual Investors	1,413	22,60,800	2.65
TOTAL	1,477	40,43,200	2.25

Final Demand

Sr.No.	Bid Price	No. of Equity Shares Bid	% to total	Cumulative total	% of Cumulative total
1.	75.00	20,800	0.50	20,800.00	0.50
2.	76.00	3,200	0.08	24,000.00	0.57
3.	78.00	8,000	0.19	32,000.00	0.77
4.	79.00	4,800	0.11	36,800.00	0.88
5.	81.00	37,34,400	89.46	37,71,200.00	90.34
6.	CUT-OFF	4,03,200	9.66	41,74,400.00	100.00
	Total	41,74,400	100.00

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - EMERGE Platform of the National Stock Exchange of India Limited on April 20,2017
A. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 81/- 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 92,800 Equity shares in full out of reserved portion of 92,800 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. 81/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 2.27 times. Total number of shares allotted in this category is 9,69,600 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise)	No. of Applications received	% to total	Total No. of Equity Shares applied	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding Off)	Allocation per Applicant (After Rounding Off)	Ratio of Allottees to the Applicants	Total No. of Equity Shares allotted	Surplus/ (Deficit)
1,600	1,377	100	22,03,200	100	9,69,000	704.14	1,600	606:1377	9,69,000	⁰

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 Rs 81/- per Equity Share, was finalized in consultation with National Stock Exchange of India Limited. The category was subscribed by 2.27 times. Total number of shares allotted in this category is 7,37,600 Equity Shares. The category wise basis of allotment is as under:

No. of Shares Applied for (Category wise)	No. of Applications received	% to total	Total No.of Equity Shares applied	% to total	Proportionate Shares Available	Allocation per Applicant (Before Rounding Off)	Allocation per Applicant (After Rounding Off)	Ratio of Allottees to the Applicants	Total No. of Equity Shares allotted	Surplus/ (Deficit)
3,200	4	6.56	12,800	0.76	5,631	1,407.63	1,600	1:1	6,400	769
4,800	4	6.56	19,200	1.15	8,446	2,111.45	1,600	1:1	6,400	-2,046
6,400	6	9.84	38,400	2.29	16,892	2,815.27	3,200	1:1	19,200	2,308
8,000	3	4.92	24,000	1.43	10,557	3,519.08	3,200	1:1	9,600	-957
9,600	4	6.56	38,400	2.29	16,892	4,222.90	4,800	1:1	19,200	2,308
11,200	7	11.48	78,400	4.68	34,487	4,926.72	4,800	1:1	33,600	-887
12,800	4	6.56	51,200	3.05	22,522	5,630.53	6,400	1:1	25,600	3,078
14,400	1	1.64	14,400	0.86	6,334	6,334.35	6,400	1:1	6,400	66
16,000	1	1.64	16,000	0.95	7,038	7,038.17	6,400	1:1	6,400	-638
19,200	3	4.92	57,600	3.44	25,337	8,445.80	8,000	1:1	24,000	-1,337
24,000	4	6.56	96,000	5.73	42,229	10,557.25	9,600	1:1	38,400	-3,829
24,000							1,600	2:4	3,200	3,200
25,600	5	8.20	1,28,000	7.63	56,305	11,261.07	11,200	1:1	56,000	-305
28,800	2	3.28	57,600	3.44	25,337	12,668.70	12,800	1:1	25,600	263
30,400	1	1.64	30,400	1.81	13,373	13,372.52	12,800	1:1	12,800	-573
38,400	2	3.28	76,800	4.58	33,783	16,891.60	16,000	1:1	32,000	-1,783
48,000	1	1.64	48,000	2.86	21,115	21,114.50	20,800	1:1	20,800	-315
49,600	3	4.92	1,48,800	8.87	65,455	21,818.32	22,400	1:1	67,200	1745
62,400	1	1.64	62,400	3.72	27,449	27,448.85	27,200	1:1	27,200	-249
64,000	1	1.64	64,000	3.82	28,153	28,152.67	28,800	1:1	28,800	647
1,53,600	4	6.52	6,14,400	36.64	2,70,265	67,566.41	67,200	1:1	2,68,800	-1,465

The Board of Directors of the Company at its meeting held on April 21,2017 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 on or before April 25,2017. Further, the instructions to SCSBs shall be issued on April 21,2017 for unblocking of funds. The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subjectto 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 the 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 April 25,2017 subject to receipt of listing and trading approvals from NSE.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrarto the Issue at www.bigshareonline.com. 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:

BIGSHARE SERVICES PRIVATE LIMITED
E/2, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (East), Mumbai - 400 072.
Tel: +91 22 40430200;Fax: +91 22 28475207
E-mail: ipo@bigshareonline.com; Website: www.bigshareonline.com
Investor Grievance Id: investor@bigshareonline.com
Contact Person: Babu Raphael; SEBI Registration No.: INR000001385

Date: April 21,2017 Place: Mumbai, Maharashtra	For Panache Digilife Limited On behalf of the Board of Directors Sd/- Amit Rambhia Managing Director

Panache Digilife IPO Basis of Allotment FAQs

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 Panache Digilife IPO .

The Panache Digilife IPO basis of allotment (published above) tells you how shares are allocated to you in Panache Digilife IPO and category wise demand of IPO share.

Visit the Panache Digilife IPO allotment status page to check the number of shares allocated to your application.

In Panache Digilife 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 Panache Digilife IPO basis of allotment document to know how the shares are allocated in Panache Digilife IPO.

Panache Digilife IPO Basis of Allotment

Panache Digilife IPO Basis of Allotment FAQs

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