Waa Solar IPO Basis of Allotment

Our Company was incorporated as "Waa Solar Private Limited" under the  provision of the Companies Act. 1956 vide certificate of incorporation dated November 9.2009 issued by the Assistant Registrar of  Companies, Maharashtra, Mumbai. The registered office of our Company was shifted from Maharashtra State to Gujarat State and certificate was issued on September 12, 2013 by the Registrar of Companies, Gujarat, Dadara Nagar and Havelli. Consequent upon the conversion of our company to public limited company, the name of our company was changed to "Waa Solar Limited* and fresh certificate of incorporation dated February 19, 2018 was issued by the Assistant ROC.   Registrar of  Companies, Ahmedabad. The Corporate Identification Number of our Company is U40106GJ2009PLC076764.

Registered office: Madhav House. Nr. Panchratna Building. Subhanpura. Vadodara. Gujarat -390023.
Tel: 0265-2290722, Website: www.waasolar.org; E-Mail: info@waasolar.org;

Contact Person: Mr. Kaushik Sakhavada. (Company Secretary and Compliance Officer)

PROMOTERS OF OUR COMPANY: MADHAV POWER PRIVATE LIMITED

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 20,00.000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") OF WAA SOLAR LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS. 161 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS.151 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING TO RS.3220.00 LAKHS ("ISSUE") CONSISTING OF A FRESH ISSUE OF 17.50.000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS.161 PER EQUITY SHARE AGGREGATING TO RS.2817.50 LAKHS ("ISSUE") AND 2,50,000 EQUITY SHARES OF FACE VALUE OF RS.10 EACH ('EQUITY SHARES") FOR CASH AT A PRICE OF RS.161 PER EQUITY SHARE AGGREGATING TO RS.402.50 LAKHS THROUGH AN OFFER FOR SALE BY MR. ASHOK KHURANA AND MRS. MANJU KHURANA (REFERRED AS SELLING SHAREHOLDERS FORMING PART OF PROMOTER GROUP) OF WHICH 1,04.000 EQUITY SHARES OF FACE VALUE OF RS.10.00 EACH FOR A CASH PRICE OF RS.161 PER EQUITY SHARE, AGGREGATING TO  RS.167.44 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 18,96,000 EQUITY SHARES OF FACE VALUE OF RS.10.00 EACH AT AN ISSUE PRICE OF RS.161 PER EQUITY SHARE AGGREGATING TO RS.3052.56 LAKHS (IS HEREINAFTER REFERRED TO AS THE '"NET ISSUE"). THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.15% AND 28.58%,.RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

In terms of Prospectus dated May 18,2018 and as per Regulation 43(4) of SEBI (ICDR) Regulations, 2009 wherein (a) minimum of 50 % of the Net Offer to Public shall be initially made available to Retail Individual Investors as the case may be (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 or institutions, irrespective of no of shares applied for.

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.

THE FACE VALUE OF THE EQUITY SHARES IS RS.10 EACH AND THE ISSUE PRICE IS RS.161 EACH. THE ISSUE PRICE IS 16.1 TIMES OF THE FACE VALUE.

ISSUE OPENED ON : May 31, 2018 (THURSDAY) - ISSUE CLOSED ON : June 04, 2018 (MONDAY)

The Equity Shares offered through this Prospectus are proposed to be listed on the BSE SME Platform of  Bombay Stock Exchange Limited ("BSE "). 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   May 14, 2018 from BSE for using its name in this offer document for listing our shares on the SME Platform of  BSE. For the purpose of this Issue, the designated Stock Exchange will be the Bombay Stock Exchange Limited ("BSE ").

SUBSCRIPTION DETAILS

Details of the application
The Issue has received 2842 (before rejections) applications for 2913600 Equity Shares (Including Market Maker Application of 1,04.000 Equity Shares)   resulting 1.456 times subscription. The details of the applications received in the Issue (before technical rejections) are as follows:
Detail of Valid Applications Received (Before Technical Rejection):

Total 30 applications received in Retail Individual Investors Category (24,000 Equity Shares)  & 2 Application received in Other than Retail Individual Investor's (62,400 Equity Shares) were rejected on technical grounds.
Details of valid Applications Received (After Technical Rejection):

ALLOCATION: The Basis of Allotment was finalized m consultation with the Designated Stock Exchage - BSE Lmiited ("SME platform of BSE") on June 7, 2018

A. Allocation to Market Maker: The Basis of Allolment to the Market Maker, at the issue price of  Rs 161 /- per  Equity Share, was finalised in consultation with BSE  The category was subscribed by 1.00 times The total number of shares allotted in this category is 1,04,000 Equity shares in full out of reserved poriton of  1,04,000 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. 161/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.436 times. Total number of shares allotted in this category is 1555200:

C. Allocation to Non Retail Investors (After Technical Rejections): The Basis of Allotment to the Non Retail Investors, at the issue price of  Rs 161/- per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.439 times. Total number of shares allotted in this category is 340800.

The Board of Directors of the Company at its meeting held on June 7, 2018 has taken on record the Basis of  Allotment of Equity Shares  approved by the Designated Stock Exchange viz BSE and has authorized the corporate action for the allotment of the Equity Shares in dematerialised form to various successfull applicants.

The CAN-cum-Refund Orders and advice and/or notices are being dispatched to the address of the Applicants as registerd with the depositories / as filled in the application form on or before June 11, 2018. Further, the instruction to Self  Certified Syndicate Banks being processed on or prior to June 11, 2018. In case the same is not received within 10  days, investors may contact at the address given below. The Equity Shares allocation to successful  applicants are being  credited to their beneficiary accounts subjected to validation of the account details with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for the trading on the SME Platform of BSE Limited within six working days from  the date of  the closure of the issue. The trading is proposed to be commenced on or before June 12, 2018 subject to receipt of listing and trading approvals from the BSE Limited ("SME Platform of BSE ").

INVESTORS PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at 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 applicants serial of the application Form number of  share applied for and Bank Branch where the application had been lodged and payment details at the address of  Registrar given below: