|Basis of Allotment|
(This is only an advertisement for information purposes and is not a prospectus announcement)
ENGINEERS INDIA LIMITED
The Company is a Government Company and was originally incorporated in
New Delhi on March, 15, 1965 under the Companies Act, 1956, as a private Limited company
under the name "Engineers India Private Limited' pursuant to a formation agreement
dated Novemter 20, 1964 and in accordance with a memorandum of agreement dated June
27, 1964 between the Government of India and Bechtel International Corporation.
BASIS OF ALLOTMENT
FURTHER PUBLIC OFFER OF 33,693,660 EQUITY SHARES OF RS 5 EACH ("EQUITY SHARES") OF ENGINEERS INDIA LIMITED ("EIL" OR "THE COMPANY") THROUGH AN OFFER FOR SALE BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF PETROLEUM AND NATURAL GAS, GOVERNMENT OF INDIA (THE "SELLING SHAREHOLDER") FOR CASH AT A PRICE OF RS 150* PER EQUITY SHARE AGGREGATING TO 4,973.21** MILLION (THE "OFFER"). THE OFFER COMPRISES A NET OFFER TO PUBLIC OF 33,191,660 EQUITY SHARES (THE "NET OFFER") AND A RESERVATION OF 500,00 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER SHALL CONSTITUTE 10% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY AND THE NET OFFER SHALL CONSTITUTE 9.85% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS 5 EACH.
*Price Band of Rs 45 - 150 per equity sheres and a discount of Rs 6 to the Offer Price was offered to Retail Individual Investors ("Retail Discount") and Eligible Employees bidding in the Employee Reservation Portion (the "Employee Discount"). Pursuant to finalization of the basis of allotment, the Offer Size stands revised to Rs 4,973.21 million mentioned in the Porspectus.
Bid/Offer Opened on February 6, 2014 and Closed on February 12,
This Offer was made through the Book Building Process where not more than 50% of the Net Offer was allocated on a proportionate basis to Qualified Institutional Buyers Further, subject to valid Bids, 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only. The remainder was available for allocation on a proportionate basis to QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. In addition, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was available for allocation to Retail Individual Bidders, subject to valid Bids being received at or above the Offer Price. Further, 500,00 Equity Shares were available for allocation on a proportionate basis to the Eligible Employees, subject to valid Bids being received from them at or above the Offer Price.
PROMOTER: THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF PETROLEUM AND NATURAL GAS ("MoPNG"), GOVERNMENT OF INDIA
The Offer received 71897 aoolications for 94807084 equity shares resulting in 2.31 times subscriptions. The details of the applications received in the Offer from various categories are as under:
PRICE WISE BIDS REGD.
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on February 21, 2014
A. Allotment to Eligible Employees (After Technical Rejection) (Including ASBA
B. Allotment to Retail Individual Bidders (After Technieal Rejection)
(Including ASBA Applications)
C. Allolment to Non Institutional Bidders (AfterTechnical Rejection)
The Basis of Allotment to the Non Institutional Bidders, who have bid at the Offer Price of Rs 150 per Equity share was finalized in consultation with BSE. This category has been subscribed to the extent of 0.222748 times. The total number of equity shares allotted in the Non-Institutional bidder category is 11,22,300 Equity Shares, including spillover from Eligible Employee Category to the extent of 16,749 Equity Shares. Allotted to 29 successful applicants. The category wise details of the Basis of Allolment are as under:
Allolment to QIBs who have bid at the Offer Price of Rs150 per Equity Share has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 3.427282 times. As per the SEBI Regulations. Mutual Funds were initially Allotted 5% of the quantum of shares available i .a. 954917 Equity Shares including spill over from the Eligible employee Reservation Category and Non- institutional investors to the extent of 125075 Equity Shares and other QIBs were Allotted the remaining available shares i.e. 18143412 Equity Shares including spillover from the Eligible Employee Reservation Category and Non Institutional Investors to the extent of 2376424 Equity Shares. The total number of Equity Shares Allotted In tne QIBCategory is 10093329 Equity Shares which were Allotted 33 successful applicants. The category-wise details of the Basis of Allotment are as under:
The Committee for Further Public Offering of equity shares of the
Board of Directors of the Company at its meeting held at Delhi on February 22,2014 has
approved the Allotment of Equity Shares of the Offer and has allotted the Equity Shares to
various successful applicants.
INVESTORS PLEASE NOTE
All future correspondence 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 Application-cum-Bidding form, number of shares bid for, name of the Member of the Syndicate and place where the bid was submntcd a "d payment details at the address given below.
Karvy Computershare Private Limited
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ENGINEERS INDIA LIMITED
Engineers. India limited is proposing, subject to market conditions and other considerations, a further public offer for sale by government of India through the Ministry of petrolium and Natural Gas and has filed a Prospectus with the Registrar of Companies at National Capital Territory of Delhi and Haryana. The Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Bank Running Lead Managers at www.icicisecurities.com. www.idfccapital.com and www.investmentbank.kotak.com . 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. The Equity Shares have not been and will not be registered under the U.S. Securitied Act of 1933, as amended (Ihe "U.S. Securities Act") and may not be offered or sold within the United Slates or to, or for the account or benefit of U.S. persons (as defined in Regulation S underlhe U.S. Securities Act ("Regulation S") except pursuant to an exemption from, or in a transaction not subject to, the registration (equipments of the U.S. Securities. Act and applicable state securities laws. The Equity Shares are being offered and sold (i) in the United States only to U.S. persons that are "qualified institutional buyers" (as defined in Rule 144A under the U. S. Securities Act ("Rule 144 A"). in reliance on the exemption from registration under the U.S. Securities Act provided by Rule 144 A or other available examption and (ii) outside the United Stales, in offshore transactions in reliance on regulations s. No public offering of secuiriies is contemplated in the United States or any jurisdiction outside India.