Friday, 26 July 2019

Affle (India) Limited (IPO)

Our Company was incorporated as ‘Tejus Securities Private Limited’ under the Companies Act, 1956, with a certificate of incorporation issued by the Registrar of Companies, Maharashtra (“RoC”) on August 18, 1994 at Mumbai. Subsequently, the name of our Company was changed to ‘Affle (India) Private Limited’ and a fresh certificate of incorporation was issued by the RoC on September 29, 2006. Our Company was subsequently converted to a public limited company and the name of our Company was changed to our present name, i.e., ‘Affle (India) Limited’, and a fresh certificate of incorporation consequent upon conversion was issued by the RoC on July 13, 2018. For details of changes in the name and registered office address of our Company, see “History and Certain Corporate Matters” on page 181 of the red herring prospectus dated July 19, 2019 (“RHP”).

Affle (India) Limited’s IPO to open on July 29, 2019 with a Price Band of Rs. 740 – Rs. 745 per Equity Share each of Face Value of Rs. 10 each

·         Initial Public Offering of up to [.] Equity Shares.
·         Price band of Rs. 740 –Rs. 745 per Equity Share.
·         Minimum Bid lot is 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
·         Issue opening date –  July 29, 2019 and Issue closing date – July 31, 2019
·         The Floor Price is 74 times of the face value and the Cap Price is 74.5 times of the face value of the Equity Shares.

Initial public offering of up to [.] equity shares of face value of ` 10 each (“Equity Shares”) of Affle (India) Limited (our “Company”). At a price of [.]  per Equity Share including a share premium of ` [.]  per Equity Share (the “Offer Price”), aggregating up to [.] million (the “Offer”) comprising a fresh issue of up to [.]  equity shares by our Company aggregating up to Rs. 900 million and an offer for sale of up to 4,953,020 Equity Shares aggregating up to [.] million by Affle Holdings Pvt. Ltd. The Offer shall constitute [.] % of the post-offer paid-up equity share capital of our Company.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 (“SCRR”) read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the “SEBI ICDR Regulations”). This Offer is being made through the Book Building Process in accordance with Regulation 26(2) of the SEBI ICDR Regulations, wherein at least 75% of the Offer shall be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”). Our Company and the Promoter Selling Shareholder, 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, out of which at least one-third will be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price.

Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.

ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.  For further details, please refer to page 83 of the RHP.

The Registrar to the Offer is Karvy Fintech Private Limited.

The Equity Shares of the Company are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

References to “we”, “our” and “us” are to Affle (India) Limited collectively with its subsidiaries Affle International Private Limited, PT Affle Indonesia and Affle MEA FZ-LLC, unless the context requires otherwise.

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