APR Constructions Limited - Saffron Capital

4) Ensure that the Bid-cum-Application Form/ASBA Form is duly completed as per instructions given in the Red
Herring Prospectus and in the Bid-cum-Application Form/ASBA Form, as applicable.
5) Ensure the correctness of your demographic details (as defined in the "Issue Procedure" beginning on page 213
given in the Bid-cum-Application Form and the ASBA Bid-cum-Application Form, with the details recorded
with your Depository Participant;
6) Bids by QIBs (including Anchor Investors) shall be submitted only to the BRLMs and /or its affiliates or to the
Syndicate Members; and
7) ASBA Bidders (including QIB Bidders but excluding Anchor Investors) can submit an ASBA Bid cum
Application Form either in physical or electronic form to (a) the SCSB or the Designated Branches of the SCSBs
authorising blocking of funds that are available in the bank account specified in the ASBA Bid cum Application
Form; or (b) to the members of the Syndicate who shall further submit such ASBA Bid cum Application Form to
the SCSBs. ASBA Bidders who are not QIB Bidders can also submit ASBA Bids to Sub- Syndicate Members.
ASBA Bidders should ensure that their bank accounts have adequate credit balance at the time of submission to
the SCSB to ensure that their ASBA Form is not rejected.
Illustration of book building and price discovery process
(Investors should note that the following is solely for the purpose of illustration and is not specific to the Issue)
Bidders can bid at any price within the price band. For instance, assuming a price band of `40 to `48 per share, issue
size of 6,000 equity shares and receipt of nine bids from bidders, details of which are shown in the table below, the
illustrative book would be as below. A graphical representation of the consolidated demand and price would be made
available at the bidding centres during the bidding period. The illustrative book as shown below indicates the demand
for the shares of the company at various prices and is collated from bids from various investors.
Bid Quantity Bid Price (`) Cumulative Quantity Subscription
500 48 500 8.33%
700 47 1,200 20.00%
1,000 46 2,200 36.67%
400 45 2,600 43.33%
500 44 3,100 51.67%
200 43 3,300 55.00%
2,700 42 6,000 100.00%
800 41 6,800 113.33%
1,200 40 8,000 133.33%
The price discovery is a function of demand at various prices. The highest price at which the issuer is able to issue the
desired quantum of shares is the price at which the book cuts off i.e. `42 in the above example. The issuer, in
consultation with the BRLMs will finalize the issue price at or below such cut-off price i.e. at or below `42. All bids
at or above this issue price and cut-off bids are valid bids and are considered for allocation in respective category.
Withdrawal of the Issue
Our Company, in consultation with the BRLMs, reserves the right not to proceed with the Issue after the Bid/ Issue
Opening Date but before Allotment, and if so, the reason thereof shall be given as a public notice within two days of
the closure of the Issue. The public notice shall be issued in the same newspapers where the pre- issue advertisement
had appeared. The Stock Exchanges where the specified securities were proposed to be listed shall also be informed
promptly. The BRLMs, through the Registrar to the Issue, shall notify the SCSBs to unblock the bank accounts of the
ASBA Bidders within one day of receipt of such notification. Our Company shall also promptly inform the Stock
Exchanges on which the Equity Shares were proposed to be listed. If our Company withdraws the Issue after the
closure of bidding, our Company shall be required to file a fresh draft red herring prospectus with SEBI. Any further
issue of Equity Shares by our Company shall be in compliance with applicable laws.
Notwithstanding the foregoing, the Issue is also subject to obtaining (i) the final listing and trading approvals of the
Stock Exchanges, which our Company shall apply for after Allotment. (ii) the final RoC approval of the Prospectus
after it is filed with the Stock Exchanges.
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