RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits
RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits
RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits
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date of submission of the Bid-cum-Application Form. Such person should be an employee<br />
or director(s) during the period commencing from the date of filing of the Red Herring<br />
Prospectus with RoC up to the Bid/Issue closing date. Eligible employees belonging to the<br />
Promoter/promoter group are not eligible to participate in the Employee Reservation<br />
Portion<br />
Pursuant to the existing regulations, OCBs are not eligible to participate in the Issue.<br />
Note: The BRLMs and Syndicate Member shall not be entitled to subscribe to this Issue in any<br />
manner except towards fulfilling their underwriting obligations. However, associates and<br />
affiliates of the BRLMs, and Syndicate Members may subscribe for Equity Shares in the Issue,<br />
including in the QIB Portion and Non-Institutional Portion where allocation is on a proportionate<br />
basis.<br />
Bidders are advised to ensure that any single Bid from them does not exceed the<br />
investment limits or maximum number of Equity Shares that can be held by them<br />
under applicable law, rules, regulations, guidelines and approvals or statutory<br />
guidelines.<br />
Bids by Mutual Funds<br />
(As per the current regulations, the following restrictions are applicable for<br />
investments by mutual funds):<br />
An eligible Bid by a Mutual Fund shall first be considered for allocation proportionately in the<br />
Mutual Fund Portion. In the event that the demand is greater than 1,86,250 Equity Shares,<br />
allocation shall be made to Mutual Funds proportionately, to the extent of the Mutual Fund<br />
Portion. The remaining demand by the Mutual Funds shall, as part of the aggregate demand by<br />
QIB bidders, be available for allocation proportionately out of the remainder of the QIB Portion,<br />
after excluding the allocation in the Mutual Fund Portion.<br />
No mutual fund scheme shall invest more than 10% of its net asset value in the Equity Shares or<br />
equity related instruments of any company provided that the limit of 10% shall not be applicable<br />
for investments by index funds or sector or industry specific funds. No mutual fund under all its<br />
schemes should own more than 10% of any company’s paid-up share capital carrying voting<br />
rights. These limits would have to be adhered to by the mutual funds for investment in the<br />
Equity Shares.<br />
In terms of SEBI Guidelines, 5% of the QIB Portion (i.e. 1,86,250 Equity Shares) shall be<br />
available for allocation to Mutual Funds. Mutual Funds participating in the 5% share of the QIB<br />
Portion will also be eligible for allocation in the remaining QIB Portion.<br />
In case of a mutual fund, a separate Bid can be made in respect of each scheme of the mutual<br />
fund registered with SEBI and such Bids in respect of more than one scheme of the mutual fund<br />
will not be treated as multiple Bids provided that the Bids clearly indicate the scheme concerned<br />
for which the Bid has been made.<br />
Bids by FIIs<br />
(As per the current regulations, the following restrictions are applicable for<br />
investments by FIIs):<br />
The Issue of Equity Shares to a single FII should not exceed 10% of the post-Issue paid-up<br />
capital of the Company. In respect of an FII investing in the Equity Shares on behalf of its subaccounts,<br />
the investment on behalf of each sub account shall not exceed 10% of the total paidup<br />
capital or 5% of the total paid up capital of the Company in case such sub-account is a<br />
foreign corporate or an individual. As of now, the aggregate FII holding in the Company cannot<br />
exceed <strong>24</strong>% of its total paid up equity capital. However, this limit of <strong>24</strong>% has been increased to<br />
49% (applicable sectoral cap) by a resolution passed by the Board of Directors in their meeting<br />
held on July 11, 2007 subject to the approval of the shareholders.<br />
Subject to compliance with all applicable Indian laws, rules, regulations guidelines and approvals<br />
in terms of Regulation 15A (1) of the Securities Exchange Board of India (Foreign Institutional<br />
Investors) Regulations, 1995, as amended, an FII or its sub-account may issue, deal or hold,<br />
off-shore derivative instruments such as Participatory Notes, equity-linked notes or any other<br />
similar instruments against underlying securities listed or proposed to be listed in any stock<br />
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