Prabhat Dairy Limited Public Issue Closes on Sept 4, ’15

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Prabhat

NewZNew (Chandigarh) : Prabhat Dairy Limited (the “Company” or the “Issuer”) is proposing to list its equity shares of face value of Rs. 10 each (the “Equity Shares”) on BSE Limited and the National Stock Exchange of India Limited (collectively, the “Stock Exchanges”) through an initial public offer of the Equity Shares. The initial public offer comprises of a fresh issue aggregating up to Rs. 3,000 million and an offer for sale of up to 14,706,000 Equity Shares (the “Issue”). The Company had filed the Red Herring Prospectus dated August 17, 2015 for the Issue (the “RHP”) with the Registrar of Companies, Pune, Maharashtra on August 17, 2015 and the Bid / Issue Period for participating in the Issue was August 28, 2015 to September 1, 2015. The Global Co-ordinators and Book Running Lead Managers (“GC-BRLMs”) to the Issue are Edelweiss Financial Services Limited and Macquarie Capital Securities (India) Private Limited. The Book Running Lead Manager to the Issue is SBI Capital Markets Limited (the “BRLM”, and together with the GC-BRLMs, the “Lead Managers”).

The price band for the Issue was determined as Rs. 140 to Rs. 147 per Equity Share. The Company and the Selling Shareholders, in consultation with the Lead Managers, have decided to revise the price band for the Issue. The revised price band shall be Rs. 115 to Rs. 126 per Equity Share. The discount on the issue price to Retail Individual bidders (“Retail Discount”) will remain at Rs. 5 per Equity Share. The minimum Bid Lot will remain at 102 Equity Shares and in multiples of 102 Equity Shares thereafter. Please note that, in the event that the Bids are submitted by the Bidders at any price, including the Cut-Off Price, in the original Price Band i.e. Rs. 140 to Rs. 147, the Bids will be treated as Bids at the higher end of the revised Price Band i.e. Rs. 126, unless the Bids are revised by the Bidders. Pursuant to the revision in the price band, the Bid / Issue Period has been extended by three working days and consequently, the Bid/ Issue Closing Date shall be Friday, September 4, 2015. For further details in relation to the revision of price band, please refer to the websites of the Stock Exchanges at www.bseindia.com and www.nseindia.com and the websites of the Lead Managers at www.edelweissfin.com, http://www.macquarie.com/in/about/disclosures/india-list-of-offer-documents and www.sbicaps.com.

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended, (“SCRR”) this is an Issue for at least 25% of the post-Issue paid-up equity share capital of the Company. The Issue is being made through the Book Building Process, in compliance with Regulation 26(1) of SEBI Regulations, wherein 50% of the Issue shall be available for allocation on a proportionate basis to QIBs (“QIB Category”). 5% of the QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Issue Price.