APR Constructions Limited - Saffron Capital

Only Bids that are uploaded on the online IPO system of the NSE and BSE shall be considered for allocation/allotment.
In the event of a discrepancy of data between the Bids registered on the online IPO system and the physical Bid cum
Application Form, the decision of the Book Running Lead Managers and the Designated Stock Exchange, based on the
physical records of Bid cum Application Forms shall be final and binding on all concerned.
Our Company, in consultation with the BRLMs reserves the right to revise the Price Band during the Bid/Issue Period
in accordance with the SEBI (ICDR) Regulations provided that the Cap Price is less than or equal to 120% of the Floor
Price. The Floor Price can be revised up or down to a maximum of 20% of the Floor Price as originally disclosed at
least two Working Days before the Bid /Issue Opening Date.
In case of revision of the Price Band, the Issue Period will be extended for three additional Working Days after revision
of the Price Band subject to the total Bid /Issue Period not exceeding 10 Working Days. Any revision in the Price Band
and the revised Bid/Issue, if applicable, will be widely disseminated by notification to the BSE and the NSE, by issuing
a press release and also by indicating the changes on the web sites of the BRLMs and at the terminals of the Syndicate
and to the SCSBs. In the event of any revision in the Price Band the minimum application size shall remain [●] Equity
Shares, subject to the Bid Amount payable on such minimum application being in the range of `5,000 to `7,000.
Underwriting Agreement
After the determination of the Issue Price but prior to filing of the Prospectus with RoC, our Company will enter into
an Underwriting Agreement with the Underwriters for the Equity Shares proposed to be issued through the Issue. It is
proposed that pursuant to the terms of the Underwriting Agreement, the BRLMs shall be responsible for bringing in
the amount devolved in the event that the Syndicate Member(s) do not fulfill their underwriting obligations. Pursuant
to the terms of the Underwriting Agreement, the obligations of the Underwriters are several and not joint, and are
subject to certain conditions as specified in such agreement.
The Underwriters have indicated their intention to underwrite the following number of Equity Shares:
(This portion is intentionally left blank and will be filled in before filing of the Prospectus with RoC)
Name and address of the Indicative Number of Equity Shares Amount Underwritten
Underwriters
to be Underwritten
(Rupees in lakhs)
[•] [•] [•]
[•] [•] [•]
[•] [•] [•]
The above-mentioned amount is indicative underwriting and would be finalized after pricing and actual allocation.
The above underwriting is pursuant to the Underwriting Agreement dated [•]. In the opinion of our Board of Directors
(based on a certificate given by the Underwriters), the resources of all the above mentioned Underwriters are
sufficient to enable them to discharge their respective underwriting obligations in full. All the above-mentioned
Underwriters are registered with SEBI under Section 12(1) of the SEBI Act or registered as brokers with stock
exchange(s). The above Underwriting Agreement has been accepted by the Board of Directors and our Company has
issued letters of acceptance to the Underwriters.
Allocation among Underwriters may not necessarily be in proportion to their underwriting commitments.
Notwithstanding the above table, the BRLMs and the Syndicate Member(s) shall be responsible for ensuring payment
with respect to Equity Shares allocated to investors procured by them. In the event of any default in payment, the
respective Underwriter, in addition to other obligations laid down in the Underwriting Agreement, will also be
required to procure/subscribe to the Equity Shares to the extent of the defaulted amount as specified in the
Underwriting Agreement. If the Syndicate Member(s) fails to fulfil its underwriting obligations as set out in the
Underwriting Agreement, the BRLMs shall fulfil the underwriting obligations in accordance with the provisions of
the Underwriting Agreement.
The underwriting arrangements mentioned above shall not apply to the subscriptions by the ASBA Bidders in this
Issue. The underwriting agreement shall list out the role and obligations of each Syndicate Member.
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