ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion. 6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. 6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. 6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer. 6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion. 6.6 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations. 6.7 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations. 6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations. 6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange. 6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order: a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed; b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted; c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted; d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The allocation between the categories of investors and the Allotment shall be in the manner and in accordance with the terms specified in the Offer Documents and the SEBI ICDR Regulations.
6.2 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company mayand the Investor Selling Shareholders, in consultation with the BRLMs BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis basis, in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, Funds subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation PricePrice in accordance with SEBI ICDR Regulations. In Further, in the event of under-subscription, subscription or non- non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Provided, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 6.3 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer or Offer less allocation to QIBs and Retail Individual Bidders, shall be available for allocation on a proportionate basis to Non-Institutional Bidders, Bidders where one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner and as per in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 6.4 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer, or Offer less allocation to QIBs and Non-Institutional Bidders, shall be available for allocation to Retail Individual Bidders, such that . The Allotment to each Retail Individual Bidder RIB shall not be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining available Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offerallocated proportionately.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-spill over from any other category or combination of categories at the discretion of the Company and the Investor Selling Shareholders, in consultation with the BRLMs BRLMs, and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionExchange.
6.6 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The All allocations and Allotments and the Basis of Allotment (except with in respect to of Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange Exchange, in accordance with the SEBI ICDR Regulations and other Applicable Law. Allocation to Anchor Investors, if any, Investors shall be made on a discretionary basis by the Company and the nominee director on behalf of the Investor Selling Shareholders in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR RegulationsRegulations and other Applicable Law.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The allocation between the categories of investors and the Allotment shall be in the manner and in accordance with the terms specified in the Offer Documents and the SEBI Regulations.
6.2 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation to QIBs on a proportionate basis to QIBs. The Company maybasis, provided that the Corporation and the Selling Shareholder in consultation with the BRLMs Book Running Lead Managers may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds them at or above the Anchor Investor Allocation Price. In Further, in the event of under-subscription, or non- non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 6.3 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, Investors and in the manner and as per in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 6.4 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Net Offer shall be available for allocation to Retail Individual BiddersInvestors, such that each Retail Individual Bidder Investor shall be allotted Allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offeraccordance with SEBI Regulations.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, in the Employee Reservation Portion or the Policyholder Reservation Portion, may be added to other reserved category and the unsubscribed portion, if any, after such inter-se adjustments among such reserved categories shall be added to the Net Offer. Further, (i) an Eligible Employee Bidding in the Employee Reservation Portion can also Bid under the Net Offer and the Policyholder Reservation Portion, subject to qualifying the eligibility criteria and applicable limits, and such Bids will not be treated as multiple Bids, and (ii) an Eligible Policyholder Bidding in the Policyholder Reservation Portion can also Bid under the Net Offer and the Employee Reservation Portion, subject to qualifying the eligibility criteria and applicable limits, and such Bids will not be treated as multiple Bids. Under subscription, if any, in any category, except the QIB Portion, will category would be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with Corporation, the BRLMs Book Running Lead Managers and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionExchange.
6.6 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company Corporation, in consultation with the BRLMs Book Running Lead Managers and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company Corporation and the Selling Shareholder in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.8 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The Company , provided that the Company, may, in consultation with the BRLMs BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one. One-third of the Anchor Investor Portion shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation under- subscription in the Anchor Investor Portion, the balance remaining Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBsQIB Bidders (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. The Equity Shares available for allocation to Non-Institutional Investors under the Non- Institutional Portion, shall be subject to the following: (i) one-third of the portion available to Non- Institutional Bidders shall be reserved for applicants with an application size of more than ₹200,000 and up to ₹ 1,000,000, and (ii) two-third of the portion available to Non-Institutional Investors shall be reserved for applicants with application size of more than ₹ 1,000,000, provided that the unsubscribed portion in either of the aforementioned sub-categories (i) or (ii) may be allocated to applicants in the other sub-category of Non-Institutional Investors.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual BiddersInvestors, such that each Retail Individual Bidder Investors shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above . The maximum Bid Amount under the Offer Price, Equity Shares Employee Reservation Portion by an Eligible Employee shall not exceeding exceed ₹500,000 0.50 million (net of employee discount) shall be available for allocation Employee Discount). However, the initial Allotment to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, not exceed ₹0.20 million (net of Employee Discount). Only in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation PortionPortionpost initial Allotment, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, 0.20 million (net of Employee Discount) subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 0.50 million (net of employee discountEmployee Discount). Further.
6.4 Subject to valid Bids being received at or above the Offer Price, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription subscription, if any, in any category, except the Net OfferQIB Category, will be allowed to be met with spill-over to from any other category or combination of categories at the extent discretion of such under-subscription shall be permitted from the Employee Reservation PortionCompany and the Selling Shareholders in consultation with the BRLMs and the Designated Stock Exchange.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment 6.8 All allocations (except with respect to Anchor Investors) and all allocations, allotments the Basis of Allotment and transfers Allotment of Equity the Offered Shares made pursuant to the Offer shall be finalized by the Company and the Selling Shareholders, in consultation with the BRLMs BRLMs, the Registrar and the Designated Stock Exchange Exchange, in accordance with Applicable LawLaws. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by at the discretion of the Company and the Selling Shareholders, in consultation with the BRLMs, in accordance with Applicable LawLaws. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the The Parties agree that in case the event of under-subscriptionOffer is not fully subscribed, Allotment will be in the following order:
a. such number of Equity Promoter Offered Shares will shall first be Allotted by allocated or transferred and subsequently the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares being offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus allocated and applicable provisions of the SEBI ICDR Regulationstransferred.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The Offer will be made in accordance with Regulation 6(1) of the SEBI ICDR Regulations. Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company and the Promoter Selling Shareholder may, in consultation with the BRLMs Lead Manager allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer PriceXxxxx, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB PortionCategory, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion Category and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors of which one-third shall be available for allocation to Bidders with an application size more than ₹ 200,000 to ₹ 1,000,000 and two-thirds shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 in accordance with the SEBI ICDR Regulations, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR RegulationsProspectus.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lotlot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-spill- over from any other category or a combination of categories at the discretion of the Company in consultation with the BRLMs Lead Manager and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portionbasis.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing. The Parties agree that under-subscription, if any, in any category except the QIB Portion, would be allowed to be met with spill-over from any other than as required category or combination of categories pursuant to discussion with the Designated Stock Exchange. The Parties agree that in case of under-subscription in the Offer, Equity Shares up to 90% of the Fresh Issue (“Minimum Subscription”) will be issued prior to the sale of Equity Shares in the Offer for Sale, provided that post satisfaction of the Minimum Subscription, Equity Shares will be Allotted under the SEBI ICDR RegulationsOffer for Sale. For avoidance of doubt, it is hereby clarified that balance Equity Shares of the Fresh Issue (i.e., 10% of the Fresh Issue) will be offered only once the entire portion of the Offered Shares is Allotted in the Offer.
6.8 6.7 The allocation between the categories of investors and the Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum Offer Documents and the SEBI ICDR Regulations.
6.9 6.8 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company and the Promoter Selling Shareholder, in consultation with the BRLMs Lead Manager and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company and the Promoter Selling Shareholder in consultation with the BRLMsLead Manager, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up Up to 60% of the QIB Portion may be allocated to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject . Up to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Priceprovided, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million up to ₹1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹1.00 million and under-subscription in either of these two sub-categories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non-Institutional Category, subjected to valid Bids being received at or above Offer Price), in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR RegulationsProspectus.
6.3 Subject to valid Bids being received at or above the Offer Price, not less more than 3510% of the Offer shall be available for allocation to Retail Individual BiddersInvestors, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lotlot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-over from any other category or a combination of categories at the discretion of the Company and the Selling Shareholders in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portionbasis. Under-subscription, for a value in excess of ₹ 200,000if any, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will QIB Portion would not be treated as multiple Bids subject allowed to applicable limits. In case of under-subscription in the Net Offer, be met with spill-over to the extent from other categories or a combination of such under-subscription shall be permitted from the Employee Reservation Portioncategories.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between Parties agree that under-subscription, if any, in any category, except in the categories QIB Portion, would be allowed to be met with spill over from any other category or combination of investors categories, at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange. Further, in the event of an under-subscription in the Employee Reservation Portion, such unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 0.20 million (net of Employee Discount) subject to the total Allotment to an Eligible Employee not exceeding ₹ 0.50 million (net of Employee Discount). The unsubscribed portion, if any, in the Employee Reservation Portion shall be in added to the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR RegulationsNet Offer.
6.9 6.8 The Basis of Allotment and all allocations (except with respect to Anchor Investors) and all allocations), allotments and transfers Allotment of Equity Shares made pursuant to the Offer shall be finalized by the Company and the Selling Shareholders in consultation with the BRLMs BRLMs, the Registrar to the Offer and the Designated Stock Exchange in accordance with Applicable LawLaws. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company and the Selling Shareholders in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, the SEBI ICDR Regulations and shall be incorporated in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs Prospectus and the Designated Stock ExchangeOffering Memorandum.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.9 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft Red Xxxxxxx Prospectus terms specified in the Offer Documents and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Issue Price, not more than 50% of the Net Offer Issue shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up Up to 60% of the QIB Portion may be allocated to Anchor Investors at by the Anchor Investor Allocation Price, Company in consultation with the BRLM on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In 5% of the event of under-subscription, or non- allocation in QIB Portion (excluding the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion ) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors), subject to valid Bids received at or above the Issue Price. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Issue Price, not less than 15% of the Offer Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Issue Price, not less than 35% of the Offer Issue shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with the SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Issue Price, under-subscription, if any, in any categoryportion, except the QIB Portion, will be allowed to be met with spill-over from any other category portion or combination of categories at the discretion of the Company in consultation with the BRLMs BRLM and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionExchange.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate member shall not be guaranteed any proportion of the Offer Issue as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum Prospectus and the SEBI ICDR Regulations.
6.9 6.8 The Basis Allocation between the categories of investors and Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by in the Company manner and in consultation accordance with the BRLMs terms specified in the Red Xxxxxxx Prospectus, the Prospectus, the SEBI ICDR Regulations and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs BRLM, in accordance with Applicable Law.
6.9 All allocations (except with respect to Anchor Investors) and the Basis of Allotment and Allotment of the Equity Shares shall be finalized by the Company, in consultation with the BRLM and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made at the Draft Red Xxxxxxx Prospectus and applicable provisions discretion of the SEBI ICDR RegulationsCompany in consultation with the BRLM, in accordance with Applicable Law.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The Company , provided that the Company, may, in consultation with the BRLMs BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one. One-third of the Anchor Investor Portion shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation under- subscription in the Anchor Investor Portion, the balance remaining Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBsQIB Bidders (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. The Equity Shares available for allocation to Non-Institutional Bidders under the Non- Institutional Portion, shall be subject to the following: (i) one-third of the portion available to Non- Institutional Bidders shall be reserved for applicants with an application size of more than ₹200,000 and up to ₹ 1,000,000, and (ii) two-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with application size of more than ₹ 1,000,000, provided that the unsubscribed portion in either of the aforementioned sub-categories (i) or (ii) may be allocated to applicants in the other sub-category of Non- Institutional Bidders.
6.3 Subject to valid Bids being received at or above the Offer Price, not less more than 3510% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB PortionCategory, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company and the Selling Shareholder in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionExchange.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment 6.8 All allocations (except with respect allocation to Anchor Investors) and all allocations, allotments the Basis of Allotment and transfers Allotment of Equity the Offered Shares made pursuant to the Offer shall be finalized by the Company Company, in consultation with the BRLMs Book Running Lead Managers and the Designated Stock Exchange Exchange, in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock ExchangeBook Running Lead Managers.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The Company , provided that the Company, may, in consultation with the BRLMs BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one. One-third of the Anchor Investor Portion shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation under- subscription in the Anchor Investor Portion, the balance remaining Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBsQIB Bidders (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. The Equity Shares available for allocation to Non-Institutional Bidders under the Non- Institutional Portion, shall be subject to the following: (i) one-third of the portion available to Non- Institutional Bidders shall be reserved for applicants with an application size of more than ₹200,000 and up to ₹ 1,000,000, and (ii) two-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with application size of more than ₹ 1,000,000, provided that the unsubscribed portion in either of the aforementioned sub-categories (i) or (ii) may be allocated to applicants in the other sub- category of Non-Institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
6.3 Subject to valid Bids being received at or above the Offer Price, not less more than 3510% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange Exchange. and subject to Applicable Law. In the event of an underUnder-subscription in the Employee Reservation Portionsubscription, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portionif any, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will QIB Portion would not be treated as multiple Bids subject allowed to applicable limits. In case of under-subscription in the Net Offer, be met with spill-over to the extent from other categories or a combination of such under-subscription shall be permitted from the Employee Reservation Portioncategories.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The 6.8 All allocations and the Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers Allotment of the Equity Shares made pursuant to the Offer shall be finalized by the Company Company, in consultation with the BRLMs BRLMs, Registrar to the Offer and the Designated Stock Exchange Exchange, in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, The Parties agree that in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer allocated for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. manner: (a) such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next(“Minimum Subscription”) will be subscribed to; (b) upon (a), such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Equity Shares offered by the Promoter Selling Shareholder 2 will be Allotted; and
e. finally, Allotted such that it would result in the balance 10% post-Offer shareholding of the Fresh Issue portion Promoter Selling Shareholder 2 not being more than 24.99%; (c) once Equity Shares have been Allotted as per (a) and (b) above,, Equity Shares will be Allotted. In the event any Equity Shares are not sold in Allotted under the Offer for Sale on account of under- subscriptionin proportion to the Offered Shares being offered by the Selling Shareholders; and (d) upon Allotment pursuant to (a), such unsold (b) and (c) above, Equity Shares shall remaining, if any, will be subject to lock-in in accordance with Allotted towards the Draft Red Xxxxxxx Prospectus and applicable provisions balance portion of the SEBI ICDR RegulationsFresh Issue.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received, such Bids shall be allocated and Equity Shares allotted in compliance with the SEBI ICDR Regulations and other Applicable Laws in relation to the Issue.
6.2 Subject to valid Bids being received at or above the Offer Issue Price, not more than 50% of the Net Offer Issue shall be Allocated available for allocation on a proportionate basis to QIBs. The Qualified Institutional Buyers, provided that the Company may, in consultation with the BRLMs BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations , in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. In the event of under-under- subscription, or non- non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Potion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price.
6.3 Subject to valid Bids being received at or above the Issue Price, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors of which one third of the non-institutional category shall be available for allocation to Bidders with application size of more than ₹ 0.20 million and up to ₹ 1.00 million and two- third of the non-institutional category shall be available for allocation to Bidders with an application size of more than ₹ 1.00 million, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with the SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Issue Price, not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus.
6.5 Subject to valid Bids being received at or above the Issue Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company, the Book Running Lead Manager and the Designated Stock Exchange, subject to applicable laws. However, under-subscription, if any, in the QIB Portion will not be allowed to be met with spill-over from other categories or a combination of categories. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Issue Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion.
6.6 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members of the Syndicate shall not be guaranteed any proportion of the Offer Issue as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The allocation between the categories of investors and the Allotment shall be in the manner and in accordance with the terms specified in the Offer Documents and the SEBI Regulations.
6.2 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB PortionCategory, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion Category and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 6.3 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basisInvestors, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net less than 35% of employee discount) the Offer or the Offer less allocation to QIB Bidders and Non-Institutional Investors shall be available for allocation to an Eligible Employee Retail Individual Bidders, such that each Retail Individual Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion and the remaining Equity Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and in accordance with as per the terms of the Red Xxxxxxx Prospectus and the ProspectusProspectus and in accordance with SEBI ICDR Regulations. The unsubscribed portionmaximum Bid Amount under the Employee Reservation Portion by an Eligible Employee shall not exceed ₹500,000. However, if any, the initial Allotment to an Eligible Employee in the Employee Reservation Portion shall not exceed ₹200,000. In the event of under-subscription in the Employee Reservation Portion (if any), the unsubscribed portion will be added back available for allocation and Allotment, proportionately to all Eligible Employees who have Bid in excess of ₹200,000, subject to the Net Offermaximum value of Allotment made to each such Eligible Employee not exceeding ₹500,000.
6.5 Subject to valid Bids being received at or above the Offer Price, the Parties agree that under-subscription, if any, in any category, except the QIB PortionCategory, will be allowed to be met with spill-over from any other category or combination of categories categories, as applicable, at the discretion of the Company Company, in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000Exchange, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount)applicable laws. FurtherUndersubscription, an Eligible Employee Bidding if any, in the Employee Reservation Portion can also Bid in QIB Category (excluding the Net Offer and such Bids Anchor Investor Portion) will not be treated as multiple Bids subject allowed to applicable limits. In case of under-subscription in the Net Offer, be met with spill-over to the extent from other categories or a combination of such under-subscription shall be permitted from the Employee Reservation Portioncategories.
6.6 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment All allocations (except with respect to Anchor Investors) and all allocations, allotments the Basis of Allotment and transfers Allotment of Equity the Offered Shares made pursuant to the Offer shall be finalized by the Company Company, in consultation with the BRLMs and the Designated Stock Exchange Exchange, in accordance with Applicable LawLaws. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company Company, in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock ExchangeLaws.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Issue Price, not more than 50% of the Net Offer Issue shall be Allocated available for allocation on a proportionate basis to QIBsQIBs (the “QIB Portion”). The Company mayCompany, in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Pricebasis. In the event of under-subscription, or non- non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Issue Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Issue Price, not less than 15% of the Offer Net Issue shall be available for allocation on a proportionate basis to Non-Institutional BiddersBidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Issue Price, not less than 35% of the Offer Net Issue shall be available for allocation to Retail Individual BiddersInvestors, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lotlot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR RegulationsProspectus.
6.4 Subject to valid Bids being received at or above the Offer Issue Price, the Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee Employees in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net OfferIssue.
6.5 Subject to valid Bids being received at or above the Offer Issue Price, under-subscription, if any, in any categorycategory (including the Employee Reservation Portion), except the QIB PortionCategory, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company Company, in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable LawExchanges. In the event of an under-any under- subscription in the Employee Reservation Portion, the unsubscribed portion may will be Allotted available for allocation and Allotment on a proportionate basis to Eligible Employees Bidding who have Bid in the Employee Reservation Portion, for a value Portion in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discountless Employee Discount, if any). Further, an Eligible Employee Bidding Any under-subscription in the Employee Reservation Portion can also Bid in shall be added back to the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limitsIssue. In case of under-subscription in the Net OfferIssue, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion.
6.6 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer Issue as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids The Offer is being received at or above made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer Priceis being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be Allocated available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs. The ”), provided that our Company may, in consultation with the BRLMs BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at and the Anchor Investor Allocation Price, basis of such allocation will be on a discretionary basis by our Company in accordance consultation with the SEBI ICDR RegulationsBRLMs, out of which one-third shall be available reserved for allocation to the domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation PricePrice in accordance with the SEBI ICDR Regulations. In the event of underundersubscription or non-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion (other than the Anchor Investor Portion). Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds onlyFunds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-spill over from any other category or combination of categories at the discretion of the Company Company, in consultation with the BRLMs Lead Managers, and the Designated Stock Exchange Exchange.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Net Offer, shall be available for allocation to Non-Institutional Bidders of which one-third of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹200,000 up to ₹1,000,000 and two-thirds of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹1,000,000 and under- subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner prescribed under the Red Xxxxxxx Prospectus, the Prospectus and the SEBI ICDR Regulations. The allotment to each Non-Institutional Bidder shall not be less than the minimum application size, subject to Applicable Law. In the availability of Equity Shares in the Non-Institutional Portion, and the remaining Equity Shares, if any, shall be allotted on a proportionate basis, in accordance with the conditions specified in the SEBI ICDR Regulations.
6.4 Furthermore, such number of Equity Shares, aggregating to ₹ 20.00 million shall be made available for allocation on a proportionate basis only to Eligible Employees Bidding in the Employee Reservation Portion subject to valid Bids being received at or above the Offer Price, if any.
6.5 The Parties agree that in the event of an under-subscription in the Employee Reservation PortionOffer, the unsubscribed portion may Equity Shares will be allotted in the following order: (i) such number of Equity Shares will first be Allotted on a proportionate basis to Eligible Employees Bidding by the Company such that 90% of the Fresh Issue portion is subscribed; (ii) upon (i), all the Equity Shares held by the Selling Shareholders and offered for sale in the Employee Reservation Portion, Offer for a value Sale will be Allotted (in excess of ₹ 200,000, subject proportion to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 Offered Shares being offered by each Selling Shareholder); and (net iii) once Equity Shares have been Allotted as per (i) and (ii) above, such number of employee discount). Further, an Eligible Employee Bidding in Equity Shares will be Allotted by the Employee Reservation Portion can also Bid in Company towards the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case balance 10% of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionFresh Issue portion.
6.6 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company Company, in consultation with the BRLMs Lead Managers and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMsLead Managers, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.9 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject 6.1. The Offer will be made in accordance with Regulation 6(1) of the ICDR Regulations, pursuant to which, subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The Company may, provided that the Company, in consultation with the BRLMs BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however thatprovided, however, that subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBsall QIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them is in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 6.2. Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, of which one-third of the Non-Institutional Portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000, two-thirds of the Non- Institutional Portion shall be reserved for Bidders with an application size of more than ₹1,000,000 and the unsubscribed portion in either of these sub-categories may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus set out in, and in accordance with SEBI the terms of, the Red Xxxxxxx Prospectus, the Prospectus and the ICDR Regulations. The Allotment of Equity Shares to each Non-Institutional Bidder shall not be less than the minimum application size, subject to availability of Equity Shares in the Non- Institutional Portion, and the remaining Equity Shares, if any, shall be Allotted on a proportionate basis in accordance with the ICDR Regulations.
6.3 6.3. Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Net Offer shall be available for allocation to Retail Individual BiddersRIBs, such that each Retail Individual Bidder RIB shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 6.4. Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall the Employee Reservation Portion may be made available for allocation to an Eligible Employee Employees, in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net OfferICDR Regulations.
6.5 6.5. Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Non-Institutional Portion or the Retail Portion, would be allowed to be met with spill over from any other category or combination of categories of Bidders at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange, subject to Applicable Law. Under-subscription, if any, in the Net QIB Portion will not be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portioncategories.
6.6 6.6. There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to the final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.7. The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 6.8. The Basis of Allotment and all allocations (except with respect to Anchor Investors) and all allocations), allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs BRLMs, the Registrar to the Offer and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, BRLMs and in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.9. The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up Up to 60% of the QIB Portion may be allocated to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject . Up to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Priceprovided, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersBidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million up to ₹1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹1.00 million and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion), in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR RegulationsProspectus.
6.3 Subject to valid Bids being received at or above the Offer Price, not less more than 3510% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lotlot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill- over from any other category or a combination of categories at the discretion of the Company and the Selling Shareholders in consultation with the BRLMs and the Designated Stock Exchange on a proportionate basis. Under-subscription, if any, in the Net QIB Portion would not be allowed to be met with spill-over from any other category categories or a combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portioncategories.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between Parties agree that under-subscription, if any, in any category would be allowed to be met with spill-over from any other category or combination of categories in consultation with the categories Designated Stock Exchange. In the event of investors and Allotment shall be under-subscription in the manner Offer, subject to receiving minimum subscription for 90% of the Fresh Issue and in accordance compliance with Rule 19(2)(b) of the terms specified Securities Contracts (Regulation) Rules, 1957, the Allotment for the valid Bids will be made in the Red Xxxxxxx Prospectusfirst instance towards subscription for 90% of the Fresh Issue. If there remain any balance valid Bids in the Offer, the Preliminary Offering MemorandumAllotment for the balance valid Bids will be made pro rata towards Equity Shares offered by the Selling Shareholders, and only then, towards the Prospectus, the Offering Memorandum and the SEBI ICDR Regulationsbalance Fresh Issue.
6.9 6.8 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company and the Selling Shareholders, in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company and the Selling Shareholders in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.9 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft Red Xxxxxxx Prospectus terms specified in the Offer Documents and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated on a proportionate basis to QIBs. The Company and the Selling Shareholders may, in consultation with the BRLMs BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Offer Price, on a discretionary basis basis, subject to there being (i) a maximum of two Anchor Investors, where allocation in accordance with the SEBI ICDR RegulationsAnchor Investor Portion is up to ₹100 million, out (ii) minimum of which onetwo and maximum of 15 Anchor Investors, where the allocation under the Anchor Investor Portion is more than ₹100 million but up to ₹2,500 million under the Anchor Investor Portion, subject to a minimum Allotment of ₹50.00 million per Anchor Investor, and (iii) in case of allocation above ₹2,500.00 million under the Anchor Investor Portion, a minimum of five such investors and a maximum of 15 Anchor Investors for allocation up to ₹2,500.00 million, and an additional 10 Anchor Investors for every additional ₹2,500 million or part thereof will be permitted, subject to minimum allotment of ₹50.00 million per Anchor Investor. An Anchor Investor will make a minimum Bid of such number of Equity Shares, that the Bid Amount is at least ₹100.00 million. One-third shall of the Anchor Investor Portion will be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investor Allocation Price. In the event of under-subscriptionInvestors, or non- allocation in the Anchor Investor Portion, the balance Equity Shares which price shall be added to determined by the Net QIB PortionCompany and the Selling Shareholders, in consultation with the BRLMs. Further, 5% of the Net QIB Portion Category shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion Category shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, Funds subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB PortionCategory, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion Category and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion.
6.2 The Offer is being made in terms of Rule 19(2)(b) of the SCRR through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation to QIBs on a proportionate basis, provided that the Company and the Selling Shareholders in consultation with the BRLMs may allocate up to 60% of the QIB Portion will to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from them at or above the Anchor Investor Allocation Price. Further, in the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.
6.2 Subject . 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner Bidders and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and Bidders in accordance with the SEBI ICDR Regulations.
6.4 Subject , subject to valid Bids being received at or above the Offer Price, . The Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to Non- Institutional Bidders under the Non-Institutional Portion, shall be subject to the following: (i) one-third of the portion available to Non-Institutional Bidders shall be reserved for Bidders with an Eligible Employee application size of more than ₹200,000 and up to ₹1,000,000, and (ii) two-third of the portion available to Non-Institutional Bidders shall be reserved for Bidders with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of the aforementioned sub-categories may be allocated to Bidders in the manner and in accordance with the terms other sub-category of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net OfferNon-Institutional Bidders.
6.5 6.3 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, category except in the QIB Portion, will would be allowed to be met with spill-spill over from any other category or combination of categories on proportionate basis, at the discretion of the Company and the Selling Shareholders in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionLaws.
6.6 6.4 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.5 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 6.6 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company and the Selling Shareholders in consultation with the BRLMs, in accordance with Applicable Law. Under .
6.7 The Parties agree that under-subscription, if any, in any category except the QIB portionPortion, would be allowed to be met with spill-over from the any other category or combination of categories at the discretion of the Company, in consultation pursuant to discussion with the BRLMs and the Designated Stock Exchange.
6.10 . In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRRSecurities Contracts (Regulation) Rules, 1957, the Parties agree that Allotment for the valid Bids will be made in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that instance towards subscription for 90% of the Fresh Issue portion is subscribed;
b. next(“Minimum Subscription”) prior to the sale of Equity Shares in the Offer for Sale, such number provided that post satisfaction of the Minimum Subscription, Equity Shares will be Allotted under the Offer for Sale in proportion to the Offered Shares being offered by the Investor Selling Shareholder will be Allotted;
c. nextShareholders. For avoidance of doubt, such number it is hereby clarified that balance Equity Shares of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. nextFresh Issue (i.e., such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion Issue) will be Allotted. In offered only once the event any Equity entire portion of the Offered Shares are not sold is Allotted in the Offer for Sale on account Offer.
6.8 The allocation between the categories of under- subscription, such unsold Equity Shares investors and Allotment shall be subject to lock-in the manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company may, provided that the Company, in consultation with the BRLMs Lead Managers, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds onlyFunds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, provided however that, subject not more than 15% of the Offer shall be available for allocation in accordance with Regulation 32(3A) of the SEBI ICDR Regulations to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to RIBs in accordance with the terms of the Red Xxxxxxx ProspectusSEBI ICDR Regulations, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 6.2 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill over from any other category or combination of categories of Bidders at the discretion of the Company, in consultation with the Lead Managers and the Designated Stock Exchange subject to receipt of valid Bids received at or above the Offer Price. Under-subscription, if any, in the QIB Portion, would not be allowed to be met with spill-over from any other category or a combination of categories categories.
6.3 Subject to valid Bids being received at or above the discretion Offer Price, not more than 15% of the Company Offer, shall be available for allocation to Non-Institutional Bidders of which one-third of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹200,000 up to ₹1,000,000 and two-thirds of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹1,000,000 and under- subscription in consultation either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner prescribed under the Red Xxxxxxx Prospectus, the Prospectus and the SEBI ICDR Regulations. The allotment to each Non-Institutional Bidder shall not be less than the minimum application size, subject to the availability of Equity Shares in the Non-Institutional Portion, and the remaining Equity Shares, if any, shall be allotted on a proportionate basis, in accordance with the BRLMs and conditions specified in the Designated Stock Exchange subject to Applicable Law. In SEBI ICDR Regulations.
6.4 The Parties agree that in the event of an under-subscription in the Employee Reservation PortionOffer, the unsubscribed portion may Equity Shares will be allotted in the following order: (i) such number of Equity Shares will first be Allotted on a proportionate basis to Eligible Employees Bidding by such that 90% of the Fresh Issue portion is subscribed; (ii) upon achieving (i), all the Equity Shares offered for sale in the Employee Reservation Portion, Offer for a value Sale by the Selling Shareholders will be Allotted (in excess of ₹ 200,000, subject proportion to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 Offered Shares being offered by each Selling Shareholder); and (net iii) once Equity Shares have been Allotted as per (i) and (ii) above, such number of employee discount). Further, an Eligible Employee Bidding in Equity Shares will be Allotted by the Employee Reservation Portion can also Bid in Company towards the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case remaining 10% of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionFresh Issue.
6.6 6.5 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 6.7 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company and the Selling Shareholders, in consultation with the BRLMs Lead Managers and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMsLead Managers, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.8 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The , provided that the Company mayand the Corporate Promoter Selling Shareholders and the Investor Selling Shareholders, in consultation with the BRLMs Book Running Lead Managers may allocate up to 60% of the QIB Portion to Anchor Investors at on a discretionary basis. One-third of the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third Portion shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual BiddersInvestors, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB PortionCategory, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company Company, the Corporate Promoter Selling Shareholders and the Investor Selling Shareholders, in consultation with the BRLMs Book Running Lead Managers and the Designated Stock Exchange Exchange. Subject to valid Bids being received at or above the Offer Price, the Equity Shares available for allocation to Non-Institutional Bidders under the Non-Institutional Portion, shall be subject to Applicable Law. In the event following: (i) one-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with an underapplication size of more than ₹200,000 and up to ₹ 1,000,000, and (ii) two-subscription in third of the Employee Reservation Portionportion available to Non-Institutional Bidders shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of the sub-categories may be Allotted on a proportionate basis allocated to Eligible Employees Bidding applicants in the Employee Reservation Portionother sub-category of Non-Institutional Bidders, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portionaccordance with SEBI ICDR Regulations.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment 6.8 All allocations (except with respect to Anchor Investors) and all allocations, allotments the Basis of Allotment and transfers Allotment of Equity the Offered Shares made pursuant to the Offer shall be finalized by the Company Company, the Corporate Promoter Selling Shareholders and the Investor Selling Shareholders, in consultation with the BRLMs Book Running Lead Managers and the Designated Stock Exchange Exchange, in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company Company, the Corporate Promoter Selling Shareholders and the Investor Selling Shareholders, in consultation with the BRLMsBook Running Lead Managers, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The Offer will be made in accordance with Regulation 6(1) of the SEBI ICDR Regulations. Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company and the Selling Shareholders may, in consultation with the BRLMs allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-one- third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB PortionCategory, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion Category and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors of which one-third shall be available for allocation to Bidders with an application size more than ₹ 200,000 to ₹ 1,000,000 and two-thirds shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 in accordance with the SEBI ICDR Regulations, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR RegulationsProspectus.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Investor shall be allotted not less than the minimum Bid Lotlot, subject to availability of Equity Shares in the Retail Portion. The Portion and the remaining Equity Shares, if any, Shares in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-spill- over from any other category or a combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portionbasis.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under Parties agree that under-subscription, if any, in any category except the QIB portionPortion, would be allowed to be met with spill-over from the any other category or combination of categories at the discretion of the Company, in consultation pursuant to discussion with the BRLMs and the Designated Stock Exchange.
6.10 . In case the event of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRRSecurities Contracts (Regulation) Rules, 1957, the Parties agree that in Allotment for the event of under-subscription, Allotment valid Bids will be made in the following order:
a. such number of Equity Shares will : (i) In the first be Allotted by the Company such that instance towards subscription for 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR RegulationsIssue.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Issue Price, not more less than 5075% of the Net Offer Issue shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate BRLMs, may allot up to 60% of the QIB Portion may be allocated to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In , in accordance with the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5SEBI ICDR Regulations.5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders QIBs (other than Anchor Investors), ) including Mutual Funds, subject to valid Bids being received at or above the Offer Issue Price, provided provided, however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBs. Mutual Funds participating in the Mutual Fund Portion portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Issue Price, not less more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer Net Issue shall be available for allocation to Retail Individual Bidders, Non-Institutional Bidders (out of which one third of such that each Retail Individual Bidder portion shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance reserved for applicants with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not application size exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion.
6.6 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company in consultation with the BRLMs and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 The Offer will be made in accordance with Regulation 6(1) of the SEBI ICDR Regulations. Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation to QIBs on a proportionate basis to QIBs. The basis, provided that the Company may(acting through the IPO Committee) and the Promoter Selling Shareholders, in consultation with the BRLMs Lead Managers may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds them at or above the Anchor Investor Allocation Price. In Further, in the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, Such number of Equity Shares representing 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the . The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors)QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to all QIBs. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion in the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The remaining Equity Shares, if any, in the Retail Portion shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except in the QIB Portion, will would be allowed to be met with spill-spill over from any other category or combination of categories at the discretion of the Company and the Promoter Selling Shareholders, in consultation with the BRLMs Lead Managers, and the Designated Stock Exchange Exchange.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Net Offer, shall be available for allocation to Non-Institutional Bidders of which one-third of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹200,000 up to ₹1,000,000 and two-thirds of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹1,000,000 and under-subscription in either of these two sub-categories of Non- Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner prescribed under the Red Xxxxxxx Prospectus, the Prospectus and the SEBI ICDR Regulations. The allotment to each Non-Institutional Bidder shall not be less than the minimum application size, subject to Applicable Law. In the availability of Equity Shares in the Non-Institutional Portion, and the remaining Equity Shares, if any, shall be allotted on a proportionate basis, in accordance with the conditions specified in the SEBI ICDR Regulations.
6.4 Furthermore, such number of Equity Shares, aggregating to ₹102.50 million shall be made available for allocation on a proportionate basis only to Eligible Employees Bidding in the Employee Reservation Portion subject to valid Bids being received at or above the Offer Price, if any.
6.5 The Parties agree that in the event of an under-subscription in the Employee Reservation PortionOffer, the unsubscribed portion may Equity Shares will be allotted in the following order: (i) such number of Equity Shares comprising 90% of the Fresh Issue, or such other number as required to comply with the minimum subscription to be received in the Offer under Applicable Law, will be Allotted on a proportionate basis prior to Eligible Employees Bidding the sale of Equity Shares in the Employee Reservation PortionOffer for Sale, ; (ii) next all the Equity Shares held by the Promoter Selling Shareholders and offered for a value sale in excess of ₹ 200,000, subject the Offer for Sale will be Allotted (in proportion to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 Offered Shares being offered by each Promoter Selling Shareholder); and (net iii) once Equity Shares have been Allotted as per (i) and (ii) above, such number of employee discount). Further, an Eligible Employee Bidding in Equity Shares will be Allotted by the Employee Reservation Portion can also Bid in Company towards the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case remaining 10% of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionFresh Issue.
6.6 There shall be no guarantees of allocation allocations or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized by the Company and the Promoter Selling Shareholders, in consultation with the BRLMs Lead Managers and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company and the Promoter Selling Shareholders in consultation with the BRLMsLead Managers, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.9 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus Prospectus, the Prospectus, the Preliminary Offering Memorandum, the Offering Memorandum and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more than 50% of the Net Offer shall be Allocated available for allocation on a proportionate basis to QIBs. The Company , provided that the Company, may, in consultation with the BRLMs BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, Price on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one. One-third of the Anchor Investor Portion shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of underunder- subscription or non-subscription, or non- allocation in the Anchor Investor Portion, the balance remaining Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus. However, if the aggregate demand by from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately for proportionate allocation to QIBsQIB Bidders (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion. The unsubscribed portion in the Mutual Fund Portion will be added available for allocation to the Net QIB Portionother QIBs.
6.2 Subject to valid Bids being received at or above the Offer Price, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations. The Equity Shares available for allocation to Non- Institutional Bidders under the Non- Institutional Portion, shall be subject to the following: (i) one-third of the portion available to Non- Institutional Bidders shall be reserved for applicants with an application size of more than ₹200,000 and up to ₹ 1,000,000, and (ii) two-third of the portion available to Non-Institutional Bidders shall be reserved for applicants with application size of more than ₹ 1,000,000, provided that the unsubscribed portion in either of the aforementioned sub-categories (i) or (ii) may be allocated to applicants in the other sub-category of Non-Institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. The Allotment of Equity Shares to each Non- Institutional Bidder shall not be less than the minimum application size, subject to availability of Equity Shares in the Non-Institutional Portion, and the remaining Equity Shares, if any, shall be Allotted on a proportionate basis in accordance with the SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above . The maximum Bid Amount under the Offer Price, Equity Shares Employee Reservation Portion by an Eligible Employee shall not exceeding exceed ₹500,000 (net of employee discount) shall be available for allocation Employee Discount). However, the initial Allotment to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offernot exceed ₹200,000 (net of Employee Discount).
6.5 6.4 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Portion, will be allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange and subject to Applicable Law. In Under- subscription, if any, in the Net QIB Portion would not be allowed to be met with spill-over from other categories or a combination of categories. Provided that in the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may will be Allotted on a proportionate basis available for allocation and Allotment, proportionately to all Eligible Employees Bidding in under the Employee Reservation Portion, for a value Portion who have Bid in excess of ₹ 200,000₹200,000 (net of Employee Discount), subject to the total maximum value of Allotment made to an such Eligible Employee not exceeding ₹ ₹500,000 (net of employee discountEmployee Discount). FurtherSubsequent undersubscription, an Eligible Employee Bidding if any, in the Employee Reservation Portion can also Bid in or the Net Offer and such Bids will not Shareholders Reservation Portion shall be treated as multiple Bids subject added back to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 6.8 The Basis of Allotment and all allocations (except with respect to Anchor Investors) and all allocations, allotments and transfers the transfer of Equity Shares made pursuant to the Offer shall be finalized by the Company Company, in consultation with the BRLMs BRLMs, the Registrar and the Designated Stock Exchange Exchange, in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by at the Company discretion of the Company, in consultation with the BRLMs, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Issue Price, not more than 50% of the Net Offer Issue shall be Allocated allocated on a proportionate basis to QIBs. The Company may, in consultation with the BRLMs allocate up Up to 60% of the QIB Portion may be allocated to Anchor Investors at by the Anchor Investor Allocation Price, Company in consultation with the BRLM on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In 5% of the event of under-subscription, or non- allocation in QIB Portion (excluding the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion ) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion and be allocated proportionately to QIBsQIBs (other than Anchor Investors), subject to valid Bids received at or above the Issue Price. Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Portion to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Issue Price, not less than 15% of the Offer Issue, shall be available for allocation on a proportionate basis to Non-Institutional Bidders, Bidders of which one-third of the Non- Institutional Portion will be available for allocation to Bidders with an application size of more than ₹200,000 up to ₹1,000,000 and two-thirds of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than ₹1,000,000 and under-subscription in either of these two subcategories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion and in the manner and as per the terms of prescribed under the Red Xxxxxxx Prospectus, the Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject The allotment to valid Bids being received at or above the Offer Price, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Non-Institutional Bidder shall not be allotted not less than the minimum Bid Lotapplication size, subject to the availability of Equity Shares in the Retail Portion. The Non-Institutional Portion and the remaining Equity Shares, if any, in the Retail Portion shall be Allotted allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with the conditions specified in the SEBI ICDR Regulations.
6.4 Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 (net of employee discount) shall be available for allocation to an Eligible Employee in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 Subject to valid Bids being received at or above the Offer Issue Price, under-subscription, if any, in any categoryportion, except the QIB Portion, will be allowed to be met with spill-over from any other category portion or combination of categories at the discretion of the Company in consultation with the BRLMs BRLM and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limits. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation PortionExchange.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer Issue as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, pricing other than as required under the SEBI ICDR Regulations.
6.8 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Offering Memorandum and the SEBI ICDR Regulations.
6.9 6.7 The Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer Issue shall be finalized by the Company Company, in consultation with the BRLMs Book Running Lead Manager and the Designated Stock Exchange in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by the Company in consultation with the BRLMsBook Running Lead Manager, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares 6.8 The Allotment shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in manner and in accordance with the Draft terms specified in the Red Xxxxxxx Prospectus, the Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement
ALLOCATION AND ALLOTMENT. 6.1 Subject to valid Bids being received at or above the Offer Price, not more less than 5075% of the Net Offer shall be Allocated allocated on a proportionate basis to QIBs. The Company and the Selling Shareholders (excluding WWD Ruby Limited) may, in consultation with the BRLMs allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price, provided however that, subject to and in accordance with the terms of the Red Xxxxxxx Prospectus, if the aggregate demand by Mutual Funds is less than 5% of the Net QIB PortionCategory, the balance Equity Shares, available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion Category and be allocated proportionately to QIBsQIBs (other than Anchor Investors). Mutual Funds participating in the Mutual Fund Portion will also be eligible for allocation in the remaining Net QIB Portion. The unsubscribed portion Category to the extent of Equity Shares Bid by them for in excess of allocation under the Mutual Fund Portion will be added to the Net QIB Portion.
6.2 Subject to valid Bids being received at or above the Offer Price, not less more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional BiddersInvestors, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.3 Subject to valid Bids being received at or above the Offer Price, not less more than 3510% of the Net Offer shall be available for allocation to Retail Individual Bidders, such that each Retail Individual Bidder Bidders shall be allotted not less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion. The Category and the remaining Equity Shares, if any, Shares in the Retail Portion Category shall be Allotted on a proportionate basis, in the manner and as per the terms of the Red Xxxxxxx Prospectus and the Prospectus and in accordance with SEBI ICDR Regulations.
6.4 . Subject to valid Bids being received at or above the Offer Price, Equity Shares not exceeding ₹500,000 Price (net of employee discount) Employee Discount, if any), up to such number of Equity Shares, as disclosed in the Red Xxxxxxx Prospectus, shall be available for allocation to an Eligible Employee Employees, subject to Applicable Laws and in the manner and in accordance with the terms of the Red Xxxxxxx Prospectus and the Prospectus. The unsubscribed portion, if any, in the Employee Reservation Portion shall be added back to the Net Offer.
6.5 6.4 Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category, except the QIB Non-Institutional Portion or the Retail Portion, will would be allowed to be met with spill over from any other category or combination of categories of Bidders at the discretion of our Company and the Selling Shareholders (excluding WWD Ruby Limited) in consultation with the Managers and the Designated Stock Exchange. Under-subscription, if any, in the Net QIB Portion would not be allowed to be met with spill-over from other categories or a combination of categories. Under subscription, if any, in any category except the QIB Portion, would be allowed to be met with spill- over from any other category or combination of categories at the discretion of the Company in consultation with Company, the BRLMs Managers and the Designated Stock Exchange subject to Applicable Law. In the event of an under-subscription in the Employee Reservation Portion, the unsubscribed portion may be Allotted on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total Allotment to an Eligible Employee not exceeding ₹ 500,000 (net of employee discount). Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the Net Offer and such Bids will not be treated as multiple Bids subject to applicable limitsExchange. In case of under-subscription an undersubscription in the Net Offer, spill-over the Equity Shares to be sold by each Selling Shareholder shall be in proportion to the extent of Offered Shares offered by such under-subscription shall be permitted from the Employee Reservation PortionSelling Shareholder.
6.6 6.5 There shall be no guarantees of allocation or assurance of minimum allocation to any Bidder prior to final allocation at the time of pricing, other than as required under the SEBI ICDR Regulations.
6.7 6.6 The Members members of the Syndicate shall not be guaranteed any proportion of the Offer as available for allocation to the Bidders procured by them prior to final allocation at the time of pricing, other oth er than as required under the SEBI ICDR Regulations.
6.8 6.7 The allocation between the categories of investors and Allotment shall be in the manner and in accordance with the terms specified in the Red Xxxxxxx Prospectus, the Preliminary Offering Memorandum, the Prospectus, the Final Offering Memorandum and the SEBI ICDR Regulations.
6.9 The 6.8 All allocations and the Basis of Allotment (except with respect to Anchor Investors) and all allocations, allotments and transfers of Equity Shares made pursuant to the Offer shall be finalized finalised by the Company , through the Board/ IPO Committee, as applicable, and the Selling Shareholders (excluding WWDRL), in consultation with the BRLMs Managers and the Designated Stock Exchange Exchange, in accordance with Applicable Law. Allocation to Anchor Investors, if any, shall be made on a discretionary basis by at the discretion of the Company , through the IPO Committee, as applicable, and the Selling Shareholders, in consultation with the BRLMsManagers, in accordance with Applicable Law. Under subscription, if any, in any category except the QIB portion, would be met with spill-over from the other categories at the discretion of the Company, in consultation with the BRLMs and the Designated Stock Exchange.
6.10 In case of under-subscription in the Offer, Parties agree that subject to receiving minimum subscription for 90% of the Fresh Issue and complying with Rule 19(2)(b) of SCRR, allotment of Equity Shares shall be first made towards the Fresh Issue followed by transfer of/ sale of the Offered Shares in the Offer for Sale. Subject to compliance with Rule 19(2)(b) of the SCRR, the Parties agree that in the event of under-subscription, Allotment will be in the following order:
a. such number of Equity Shares will first be Allotted by the Company such that 90% of the Fresh Issue portion is subscribed;
b. next, such number of Offered Shares offered by the Investor Selling Shareholder will be Allotted;
c. next, such number of Offered Shares offered by the Other Selling Shareholder will be Allotted;
d. next, such number of Offered Shares offered by the Promoter Selling Shareholder will be Allotted; and
e. finally, the balance 10% of the Fresh Issue portion will be Allotted. In the event any Equity Shares are not sold in the Offer for Sale on account of under- subscription, such unsold Equity Shares shall be subject to lock-in in accordance with the Draft Red Xxxxxxx Prospectus and applicable provisions of the SEBI ICDR Regulations.
Appears in 1 contract
Samples: Syndicate Agreement