16.01.2015 Views

APR Constructions Limited - Saffron Capital

APR Constructions Limited - Saffron Capital

APR Constructions Limited - Saffron Capital

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

Advertisement regarding Issue Price and Prospectus<br />

A statutory advertisement will be issued by our Company after filing of the Prospectus with the RoC in an English<br />

national daily newspaper, a Hindi national daily newspaper and a Telugu daily newspaper, each with wide circulation.<br />

This advertisement, in addition to the information that has to be set out in the statutory advertisement, shall indicate<br />

the Issue Price and the Anchor Investor Price. Any material updates between the Red Herring Prospectus and the<br />

Prospectus will be included in such statutory advertisement.<br />

Issuance of Confirmation of Allocation Note (“CAN”)<br />

a) Upon approval of the basis of Allotment by the Designated Stock Exchange, the BRLMs or Registrar to the Issue<br />

shall send to the members of the Syndicate a list of their Bidders who have been allocated/ Allotted Equity Shares<br />

in the Issue. The approval of the basis of Allotment by the Designated Stock Exchange for QIB<br />

Bidders(including Anchor Investors) may be done simultaneously with or prior to the approval of the basis of<br />

Allotment for the Retail Individuals and Non-Institutional Bidders. However, Bidders should note that our<br />

Company shall ensure that (i) the Allotment of the Equity Shares and (ii) the instructions by our Company for the<br />

demat credit of the Equity Shares, to all Bidders in the Issue shall be done on the same date.<br />

b) The Registrar to the Issue will then dispatch the CAN to the Bidders who have been allocated Equity Shares in<br />

the Issue. The dispatch of CAN shall be deemed a valid, binding and irrevocable contract for the Bidder to pay<br />

the entire Issue Price for the Allotment to such Bidder.<br />

c) The Issuance of CAN shall be deemed a valid, binding and irrevocable contract for the Allotment of Equity<br />

Shares to such Bidder.<br />

d) Bidders who have been allocated Equity Shares and who have already paid the Bid Amount into the Escrow<br />

Account at the time of bidding shall directly receive the CAN from the Registrar to the Issue subject, however, to<br />

realisation of their cheque or demand draft paid into the Escrow Account. The dispatch of a CAN shall be<br />

deemed as a valid, binding and irrevocable contract for the Bidder to pay the entire Issue Price for all Allotted to<br />

such Bidder.<br />

The Issuance of CAN is subject to “Notice to Anchor Investors - Allotment Reconciliation and Revised CANs” as set<br />

forth below.<br />

Notice to Anchor Investors: Allotment Reconciliation and Revised CANs<br />

A physical book will be prepared by the Registrar to the Issue on the basis of the Bid cum Application Forms received<br />

from Anchor Investors. Based on the physical book and at the discretion of our Company and BRLMs, select Anchor<br />

Investors may be sent a Anchor Investor Allocation Notice, within two Working Days of the Anchor Investor Bid/<br />

Issue Period, indicating the number of Equity Shares that may be allocated to them and in the event that the Issue<br />

Price is higher than the Anchor Investor Issue Price, the Anchor Investors will be sent a revised Anchor Investor<br />

Allocation Notice within one day of the Pricing Date indicating the number of Equity Shares allocated to such Anchor<br />

Investor and the pay-in date for payment of the balance amount. Anchor Investors should note that they shall be<br />

required to pay any additional amounts, being the difference between the Issue Price and the Anchor Investor Issue<br />

Price, as indicated in the revised Anchor Investor Allocation Notice within the pay-in date referred to in the revised<br />

Anchor Investor Allocation Notice. The revised Anchor Investor Allocation Notice will constitute a valid, binding<br />

and irrevocable contract (subject to the issue of CAN) for the Anchor Investor to pay the difference between the Issue<br />

Price and the Anchor Investor Issue Price and accordingly the CAN will be issued to such Anchor Investors. In the<br />

event the Issue Price is lower than the Anchor Investor Issue Price, the Anchor Investors who have been Allotted<br />

Equity Shares will directly receive CAN. The dispatch of CAN shall be deemed a valid, binding and irrevocable<br />

contract for the Allotment of Equity Shares to such Anchor Investors.<br />

The final allocation is subject to the physical application being valid in all respect along with receipt of stipulated<br />

documents, the Issue Price being finalised at a price not higher than the Anchor Investor Issue Price and Allotment by<br />

the Board of Directors.<br />

228

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!