Prevest Denpro IPO Basis of Allotment

INITIAL PUBLIC OFFERING OF 31,68,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH OF PREVEST DENPRO LIMITED ("OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF RS.84PER EQUITY SHARE ("ISSUE PRICE") (INCLUDING A SHARE PREMIUM OF RS. 74 PER EQUITY SHARE) AGGREGATING TO RS. 2661.12 LAKHS ("THE ISSUE"). THE ISSUE INCLUDES A RESERVATION OF 1,60,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 AT A PRICE OF RS. 84 PER EQUITY SHARES AGGREGATING RS. 134.40 LAKHS FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION'). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 30,08,000 EQUITY SHARES OF FACE VALUE OF RS. 10.00 EACH FOR CASH AT A PRICE OF RS. 84PER EQUITY SHARE, AGGREGATING RS 2526.72 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTES 26.39% AND 25.06% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

The Issue was made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 253 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBIICDR Regulations") wherein not more than 50% of the Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the book running lead managers ("BRLM") has allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"). Further, not less than 15% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was made available for allocation to Rlls in accordance with the SEBI (ICDR) Regulations, 2018, subject to valid Bids having been received from them at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts were blocked by the SCSBs orthe Sponsor Bank, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure"on page 206 of the Prospectus.

The bidding for Anchor Investors opened and closed on September 14, 2021. The Company received 2 Anchor Investors applications for 9,02,400 Equity Shares. The Anchor Investor Allocation price was finalized at Rs. 84 per Equity Share. A total of 9,02,400 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs. 7,58,01,600.

The Issue (excluding Anchor Investors Portion) received 21,796 Applications for 8,44,01,600 Equity Shares (before technical rejections) resulting in 37.25 times subscription (including reserved portion of market maker). The details of the Applications received in the Issue from various categories are as under (before technical rejections):

Detail of the Applications Received (Excluding Anchor):

Final Demand:

A summary of the final demand as per BSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange, being BSE Limited on September 22, 2021.

1) Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-off Price or at or above the Issue Price of Rs. 84 per Equity Share, was finalized in consultation with BSE. The category has been subscribed to the extent of 31.66 times. The total number of Equity Shares Allotted in this category is 10,52,800 Equity Shares to 658 successful applicants.

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

2) Allotment to Non-lnstitutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-lnstitutional Investors, who have bid at the Issue Price of Rs. 84 per Equity Share or above, was finalized in consultation with BSE. The category has been subscribed to the extent of 104.89 times. The total number of Equity Shares Allotted in this category is 4,51,200 Equity Shares to 161 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample basis):

3) Allotment tn QIBs excluding Anchor Investors (After Technical Rejections)

Allotment to QIBs, who have bid at the Issue Price of Rs. 84 per Equity Share or above, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 4.65 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 601,600 Equity Shares, which were allotted to 7 successful Applicants.

4) Allotment to Anchor Investors (After Technical Rejections)

The Company in consultation with the BRLM has allocated 9,02,400 Equity Shares to 2 Anchor Investors at the Anchor Investor Offer Price of Rs.84 per Equity Shares in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Category.

The Board of Directors of our Company at its meeting held on September 22, 2021 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE Ltd and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched/ mailed for unblocking of funds and transfer to the Public Issue Account on or before September 22, 2021 and payment to non-Syndicate brokers have been issued on September 23, 2021 In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees shall be uploaded on or before September 23, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from BSE and the trading of the Equity Shares is expected to commence on September 27, 2021.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated September 21, 2021 filed with the Registrar of Companies, Jammu (J&K) ("RoC").

NOTICE TO INVESTORS: Attention of Investors is hereby invited to page 162 of the Red Herring Prospectus wherein under Annexure XVI - "Details of Trade Receivables as Restated" is mentioned in the Chapter titled "Financial Information of the Company". In the said Annexure, the figures for F.Y 2020-21 should be read as follows:-

INVESTORS PLEASE NOTE

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Big share Services Private Limited at website: www.bigshareonline.com All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

	BIGSHARE SERVICES PRIVATE LIMITED
	Address: 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai 400059, Maharashtra, India
	Tel. No.: +91-022-62638200; Website: www.bigshareonline.com; Email: ipo@bigshareonline.com
	CIN: U99999MH1994PTC076534;
	Contact Person: Mr. Ashish Bhope;
	SEBI Regn. No.: MB/INR000001385

	On behalf of Board of Directors
	Prevest Denpro Limited
	Sd/-
	Atul Modi
Place: Samba (J&K)	Chairman & Managing Director
Date: September 23, 2021	DIN: 00788272

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 PREVEST DENPRO LIMITED.

Disclaimer: Prevest Denpro Limited has filed the Prospectus with the RoC on September 21, 2021 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the BRLM, Hem Securities Limited at www.hemsecurities.com. Investors should note that Investment In Equity Shares Involves a high degree of risk and for details relating to the same, please see"RiskFactors"beginningonpage26of the Prospectus.

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 sates are made. There will be no public offering in the United States.