|Basis of Allotment|
Our Company was originally incorporated in New Delhi an November7, 1975 under the Companies Act, 1956 as a private limited company under the name 'National Thermal Power Corporation Private Limited'. For details of the change in the name of our Company and registered office, see "History and Certain Corporate Matters" on page 102 of the Prospectus.
Registered and Corporate Office: NTPC
Bhawan, SCOPE Complex, 7, Institutional Area, Lodhi Road, New Delhi, 110003, India
BASIS OF ALLOTMENT
FURTHER PUBLIC OFFER OF 412,273,220 EQUITY SHARES OF Rs. 10 EACH (THE "EQUITY SHARES") OF NTPC LIMITED ("NTPC" OR "OUR COMPANY") THROUGH AN OFFER FOR SALE BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF POWER, GOVERNMENT OF INDIA (THE "SELLING SHAREHOLDER") FOR CASH AT PRICES DETERMINED THROUGH THE ALTERNATE BOOK BUILDING METHOD UNDER PART D OF SCHEDULE XI OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009, AS AMENDED (THE "SEBI REGULATIONS") AGGREGATING Rs. 84,800.98 MILLION (THE "OFFER"). THE OFFER COMPRISED A NET OFFER TO THE PUBLIC OF 408,000,000 EQUITY SHARES (THE "NET OFFER") AND A RESERVATION OF 4,273,220 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER CONSTITUTED 5% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH. THE FLOOR PRICE (FOR BIDS SUBMITTED BY NON -INSTITUTIONAL BIDDERS AND RETAIL INDIVIDUAL BIDDERS) IS Rs. 201 PER EQUITY SHARE AND IT IS 20.1 TIMES OF THE FACE VALUE. THE CLEARING PRICE (FOR BIDS SUBMITTED BY QUALIFIED INSTITUTIONAL BUYERS ("QIBs"), INCLUDING MUTUAL FUNDS) IS Rs. 202 PER EQUITY SHARE. THE EMPLOYEE PRICE (FOR BIDS SUBMITTED BY ELIGIBLE EMPLOYEES UNDER THE EMPLOYEE RESERVATION PORTION) IS Rs. 191 PER EQUITY SHARE.
The Offer was made through the Book Building Process wherein up to 50% of the Net Offer was made available for allotment on a price priority basis to QIBs ("QIB Portion"), including 5% of the QIB Portion that was specifically available for allotment to Mutual Funds only subject to valid Bids being received from them above the Floor Price. Further, not less than 15% of the Net Offer was made available for allotment on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was made available for allotment on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at the Floor Price. Furthermore, 4,273,220 Equity Shares were made available for allotment on a proportionate basis to Eligible Employees, subject to valid Bids being received at the Employee Price.
The Offer received 102,792 applications for 510,159,571 Equity Shares resulting in 1.24 times subscription. The details of the applications received in the Offer from QIBs, Non-Institutional Bidders, Retail Individual Bidders and Eligible Employee categories are as under: (Before technical rejections)
A summary of the final demand at different bid prices is as under:
*Includes bids submitted by Eligible Employee at bid price of Rs. 191
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange .i.e. National Stock Exchange of India Limited ("NSE") on february17,2010.
A. Eligible Employees (AfterTechnical Rejections)
B. Allotment to Retail Individual Bidders (Including ASBA Applications) (After
C. Allotment to Non Institutional Bidders (AfterTechnical
D. Allotment to Qualified Institutional Bidders (After Rejections)
The Committee of Board for "Further Public Offering of Equity Shares" of the Company at its meeting held at New Delhi on February 17, 2010 approved the Basis of Allotment of the Equity Shares in the Offer and Allotted the Equity Shares to various successful applicants. The CAN-cum-Refund Orders and refund credit advice have been dispatched to the address of the investors as registered with the Depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the Depositories. The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts subject to validation of the bank account details with the Depositories concerned. The Equity Shares have started trading on the Bombay Stock Exchange Limited and the NSE from February 19,2010.
INVESTORS PLEASE NOTE
These details of the allotment made would be hosted on the website of Registrar to the Offer, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondences in this regard may kindly be addressed to the Registrar to the offer quoting full name of the First/ Sole applicant. Serial number of the Bid-cum-Apptication Form, number of Equity Shares Bid for, name of the Member of the Syndicate and place where the Bid was submitted and payment details at the address given below:
Karvy Computershare Private Limited
CORRIGENDUM: As disclosed in the Prospectus dated February 9, 2010 (the "Prospectus"),
in furtherance to the finalization of Basis of Allotment by the Selling Shareholder and
the Company in consultation with the Designated Stock Exchange i.e. NSE, the aggregate
Offer size has been revised from Rs. 84,787.51 million to Rs 84,800.98 million.
Accordingly, the Prospectus shall stand amended to this effect.
THE LEVELOF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF NTPC LIMITED.
"NTPC Limited has made a further public offer of its equity shares and has filed a Prospectus with the Registrar of Companies, NCT of Delhi and Haryana, the Stock Exchanges and the Securities and Exchange Board of India ("SEBI"). The Prospectus is available on the website of SEBI at www.sebi.gov.in and the respective websites of the BRLMs at, www.icicisecurities.com,www citibank.co.in. www.jpmipl.com and www.kmcc.co.in. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same,see the section titled "Risk factors" of the Prospectus.
These materials may not be published or distributed in the United States of America and is not an offer to sell or a solicitation of an offer to buy securities in the United States or elsewhere.These securities have not been and NTPC Limited and the Selling Shareholder do not intend that they will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration under such Act. NTPC Limited and the Selling Shareholder do not intend to conduct a public offering of securities in the United States of America."