gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITED22. Not more than 50% of the Net Offer shall be allocated to QIBs on a proportionate basis out of which 5% is reservedfor Mutual Funds. Further, not less than 15% of the Net Offer will be available for allocation on a proportionate basisto Non-Institutional Bidders and the remaining 35% of the Net Offer will be available for allocation to RetailIndividual Bidders, subject to valid Bids being received from them at or above the Offer Price. Under-subscription,if any, in the QIBs, Non-Institutional and Retail Individual categories would be allowed to be met with spill over fromany other category at the discretion of the Company, the Selling Shareholder, the BRLMs.23. Investors may note that in case of over-subscription, allotment will be on proportionate basis as detailed in para on“Basis of Allocation” on page no. 194 of this Prospectus.24. A Bidder cannot make a Bid for more than the number of Equity Shares offered in this Offer, subject to themaximum limit of investment prescribed under relevant laws applicable to each category of investor.25. An over-subscription to the extent of 10% of the Net Offer to the Public can be retained for the purpose of roundingoff to the nearest multiple, while finalizing the allotment.26. Restrictive conditions and negative lien about capital structureThe covenants in borrowings from banks and subscription agreement with the Debenture holders, among otherthings, require us to obtain the approval of these banks, namely for, to undertake new project scheme unlessexpenditure of such expansion is covered by company’s net cash accruals after providing for dividends, investments,etc. or for long term uses for financing such new projects or expansion, invest by way of share capital in or lend oradvance funds to or place deposits with any other bank, change in management, change in the capital structure atany time while the loans or any debt facility is still subsisting.22