Basis of Allotment

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. THIS PUBLIC ANNOUNCEMENT IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA.

wpe10D.jpg (2789 bytes) FINELISTINGS TECHNOLOGIES LIMITED
Corporate Identification Number: U74999DL2018PLC331504

Our Company was incorporated under the name "Finelistings Technologies Private Limited", a private limited company under Companies Act, 2013 vide certificate of incorporation dated March 23,2018 issued by the Deputy Registrar of Companies, Central Registration Centre. Thereafter, our Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of our Shareholders held on July 06,2023, and consequently, the name of our Company was changed to "Finelistings Technologies Limited", and a fresh certificate of incorporation consequent upon conversion from private company to public company dated August 22,2023, was issued by the RoC to our Company. For further details, please refer to the chapter titled "History and Certain Corporate Matters " beginning on page 140 of the Prospectus.

Registered Office: G-07, Ground Floor, Ambience Mall, Nelson Mandela Road, Vasant Kunj, South West Delhi, New Delhi-110070, India.
Tel No: +91 9355111911 | Email Id: cs@finelistings.com | Website: https://www.finecars.co.in/
Contact Person: Tej Bharatkumar Hanj, Company Secretary & Compliance Officer
OUR PROMOTERS OF THE COMPANY: ANEESH MATHUR AND ARJUN SINGH RAJPUT

THE ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER IX OF THE SEBIICDR REGULATIONS 2018 (IPO OF SMALL AND MEDIUM ENTERPRISES) AND THE EQUITY SHARES ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE LIMITED ("BSE SME")

Our Company has filed the Prospectus dated April 26,2024 with the RoC. BSE is the Designated Stock Exchange for the proposed of this Issue. The trading is proposed to be commenced on May 14,2024 (Subject to receipt of listing and trading approval from the BSE).

BASIS OF ALLOTMENT SME IPO (BSE SME)

INITIAL PUBLIC ISSUE OF 11,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH ("EQUITY SHARES") OF FINELISTING TECHNOLOGIES LIMITED ("THE COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 123 PER EQUITY SHARE (THE "ISSUE PRICE") , (INCLUD -ING A PREMIUM OF RS. 113 PER EQUITY SHARE), AGGREGATING Rs. 1353.00 LAKHS ("THE ISSUE"), OF WHICH 58,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- FOR CASH AT A PRICE OF Rs. 123 EACH AGGREGATING Rs. 71.34 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MAKER MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,42,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/- EACH FOR CASH AT A PRICE OF Rs. 123 PER EQUITY SHARE, AGGREGATING TO Rs. 1281.66 LAKHS IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.25% AND 28.66% RESPECTIVE-LY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY. FOR FURTHER DETAILS, PLEASE REFER TO SECTION TITLED "TERMS OF THE ISSUE" BEGINNING ON PAGE 234 OF THE PROSPECTUS.

RISK TO INVESTORS:

1. We depend on a limited number of customers for a significant portion of our revenue from operations. The loss of any of our major customer due to any adverse development or significant reduction in business from our major customer may adversely affect our business, financial condition, results of operations, cash flow and future prospects.

2. The average cost of acquisition of Equity Shares held by our Promoters is set forth in the table below.

Name

Number of Shares

Average Cost of Acquisition per Equity Share (in Rs.)

AneeshMathur

8,83,640

2.77

Arjun Singh Rajput

8,83,640

2.77

3. We may not be able to procure financing for vehicle purchases by customers.

4. We rely on third-party service providers for many aspects of our business, and any failure to maintain these relationships could harm our business.

5. Our Showroom/ Registered Office are located on leased and licensed premises and consequently, we are required to comply with certain requirements given under lease and license agreements.

6. We do not have long-term agreements with suppliers for supplying pre-owned cars or a shortfall in the availability or quality of such cars could have an adverse effect on our business, financial condition and results of operations.

7. Our Equity Shares have not been publicly traded prior to this Issue. After this Issue, our Equity Shares may experience price and volume fluctuations and an active trading market for our Equity Shares may not develop. Further, the price of our Equity Shares may be volatile, and you may be unable to resell your Equity Shares at or above the Issue Price, or at all.

8. We depend on skilled personnel and if we are unable to recruit and retain skilled personnel, our ability to operate or grow our business could be affected.

9. Our Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact our growth and business.

10. We depend on the reliability of pre-owned car to meet our customer expectation.

THE FACE VALUE OF THE EQUITY SHARES IS Rs. 10.00/- EACH AND THE ISSUE PRICE IS Rs. 123 PER EQUITY SHARE
THE ISSUE PRICE IS 12.3 TIMES OF THE FACE VALUE OF THE EQUITY SHARES

ISSUE PROGRAM

ISSUE OPENED ON: MAY 07, 2024
ISSUE CLOSED ON: MAY 09, 2024
PROPOSED LISTING

The Equity Shares of the Company offered through the Prospectus dated April 26,2024 are proposed to be listed on the BSE SME in terms of the Chapter IX of SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received In-Principle Approval Letter dated March 01,2024 from BSE Limited for listing our shares and also for using its name in the Issue document for listing of our shares on BSE SME. BSE is the Designated Stock Exchange for the proposed of this issue. The trading is proposed to be commenced on May 14,2024 (Subject to receipt of listing and trading approval from the BSE). It is to be distinctly understood that the permission given by BSE Limited ("BSE") should not in any way be deemed or construed that the contents of the Prospectus orthe price at which the equity shares are offered has been cleared, solicited orapproved by BSE. nor does it certify the correctness, accuracy or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to BSE. The investors are advised to refer to the Prospectus for the full text of the "Disclaimer Clause of the SME Platform of BSE Limited" on page 224 of the Prospectus.

This issue is being made through Fixed Price Process in terms of Chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI (ICDR) Regulations") as amended and Rule 19(2)(b)(l) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"). According to Regulation 253(2) of the SEBI (ICDR) Regulations. 2018 as amended from time to time, the allocation in the Net Issue to the Public category is made as follows: (a) minimum 50% of the net issue of shares shall be allocated to Retail Individual Investors and (b) remaining to: (i) Individual applicants other than retail individual investors; and (ii) other investors including corporate bodies or institutions, irrespective of number of specified securities applied for; provided that the unsubscribed portion in either of categories specified in clauses (a) or (b) may be allocated to applicants in the other category.

If the retail individual investor category is entitled to more than allocated portion on proportionate basis, accordingly the retail individual investors shall be allocated that higher percentage. For further details, please refer to chapter titled "Issue Structure" beginning on page no. 241 of the Prospectus.

All investors have participated in this issue through Application Supported by Blocked Amount ("ASBA") process including through Unified Payment Interface ("UPI") mode (as applicable) by providing the details of the respective bank accounts / UPI ID as applicable in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs")/ Sponsor Bank as the case may be.

SUBSCRIPTION DETAILS

A. DETAILS OF THE APPLICATION:

The Issue has received 23,639 applications for 4,02,60,000 Equity Shares (Including Market Maker Application of 58,000 Equity Shares) resulting in 36.60 times subscription after removing multiple & duplicate Bids.

The details of the applications received in the Issue from Retail Individual Investors, Non-institutional Investors and Market Maker (before technical rejections & withdrawal) are as follows:

B. DETAILS OF APPLICATIONS RECEIVED (before technical rejection)

Category

Number of applications

Number of equity shares Bid for

Number of equity shares reserved as per Prospectus

Number of times subscribed

Retail Individual Investor's

21,508

2,15,08,000

5,21,000

41.28

Non - Retail Individual Investor's

2273

1,88,37,000

5,21,000

36.16

Market Maker

1

58,000

58,000

1

TOTAL

23,782

4,04,03,000

11.00,000

36.73

C. DETAILS OF VALID APPLICATIONS:

Sr. No

Category

Gross

Less: Valid Rejections

Valid

Allotment

Application

Equity Shares

Application

Equity Shares

Application

Equity Shares

Application

Equity Shares

1

Reserved for Market Makers

1

58,000

0

0

1

58,000

1

58.000

2

Retail Individual Investors

21,508

2,15,08,000

453

4,53,000

21,055

2,10,55,000

551

5,51,000

3

Other than Retail Individual Investors

2,273

1,88,37,000

20

60,000

2,253

1,87,77,000

278

4,91,000

Total

23,782

4,04,03,000

473

5,13,000

23,309

3,98,90,000

830

11,00,000

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange i.e BSE Limited on May 10,2024.

D. Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 123/- per Equity Share, was finalised in consultation with BSE SME. The category was subscribed by 1 time. The total number of shares allotted in this category is 58,000 Equity shares. The category wise details of the basis of allotment are as under:

No. of Applications

Equity Shares applied

Equity Shares available for Allotment

No. of times subscribed

Spill-over/ Deficit

1

58,000

58,000

1.00

-

E. Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 123/- per Equity Share, was finalized in consultation with BSE SME. The category was subscribed by 38.21 times. The total number of shares allotted in this category is 5,51,000 Equity shares. The category wise details of the basis of allotment are as under:

No. of Applications

Equity Shares applied

Equity Shares available for Allotment

No. of times subscribed

Spill-over/Deficit

21,055

2,10,55,000

5,51,000

38.21

30,000

F. Allocation to Non- Retail individual Investors (After Technical Rejections): The Basis of Allotment to the Non-Retail Individual Investors, at the issue price of Rs.123/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 38.24 times. The total numbers of shares allotted in this category is 4,91,000 Equity shares. The category wise details of the basis of allotment are as under:

The Board of Directors of the Company at its meeting held on May 10,2024 has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. BSE SME and has authorized the online corporate action forthe allotment of the Equity Shares in demateriaiised form to various successful applicants.

The CAN cum Refund Orders will be dispatched to the address of the applicants as registered with the depositories / as filled in the application form after credit of shares/ corporate Action on May 13,2024. Further, the instructions to Self-Certified Syndicate Banks being processed on May 10, 2024 for unblocking funds. The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the same is not received in compliance with the applicable timeline, investors may contact at the address given below. The Company is taking steps to get the Equity Share admitted for trading on the SME Platform of BSE within 3 (three) working days from the Closure of the Issue. The Company shall file the listing application with BSE Limited on or before May 13,2024. The Company is in process of obtaining the listing & the trading approval from BSE Limited and the trading is expected to commence on May 14,2024.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as Ascribed to them in the Prospectus dated April 26,2024.

DISCLOSURES PERTAINING TO THE LM'S TRACK RECORD ON PAST ISSUES: FEDEX SECURITIES PRIVATE LIMITED

TYPE

Total public Issue

Issue Close below price on Listing Date

SME IPO

39

7

MAIN BOARD

1

0

NOTICE TO THE INVESTORS CORRIGENDUM TO THE PROSPECTUS DATED April 26,2024

("THE CORRIGENDUM")

This Corrigendum should be read in conjunction with the prospectus filed with the Registrar of Companies. Delhi on April 27,2024. This is with the reference to the caption above, we would like to inform to all shareholders that, the below shall be read in place of mentioned in the Prospectus dated April 26,2024 in the chapter title "Capital Structure" beginning on page no 65 of the Prospectus.

22. Equity Shares locked-in for one year other than Minimum Promoters' Contribution.

Pursuant to regulation 238(b) and 239 of the SEBI (ICDR) Regulations, other than the Equity Shares held by our Promoter, which will be locked-in as minimum Promoters' contribution for three years, the entire pre-issue Equity Shares constituting 18,04,250 Equity Shares shall be subject to lock-in for a period of one year from the date of Allotment in this Issue.

INVESTORS, PLEASE NOTE

The details of the allotment made would also be hosted on the website of the Registrar to the Issue. Skyline Financial Services Private Limited at ipo@skvlinerta.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole applicants, serial number of the application form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

wpe10C.jpg (7850 bytes) SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153, A, 1st Floor, Okhla Industrial Area, Phase-I, New Delhi - 110020, Delhi, India
Tel No.: 011-40450193-97; Fax No.: 011:26812682
Email: ipo@skylinerta.com: Website: www.skylinerta.com
Contact Person: Anuj Kumar: SEBI Registration No.: INR000003241

 

FOR FINELISTING TECHNOLOGIES LIMITED
On behalf of the Board of Directors
Sd/-
Arjun Singh Rajput
Date: May 11, 2024 Designation: Managing Director
Place: Delhi DIN:06529439

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF FINELISTING TECHNOLOGIES LIMITED.

The Prospectus is available on the website of SEBI at www.sebi.gov.in. the website of the Lead Manager at www.fedsec.in. website of the National Stock Exchange of India Limited at www.bseindia.com and website of Issuer Company at https://www.finecars.co.in/ For details, investors should refer to and rely on the Prospectus including the section titled "Risk Factors" beginning on page 29 of the Prospectus.

The Equity Shares offered in this Offer have not been and will not be registered under the US Securities Act 1933, as amended (the ‘Securities Act") or any state securities laws in the United States and may not be offered or sold within the United States or to. or for the account or benefit of, "U.S. Persons" ( as defined in Regulations S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the Securities Act.

The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Application may not be made by persons in any such jurisdiction, except in compliance with the applicable lav/s of such jurisdiction, except in compliance with the applicable laws of the such jurisdiction.

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