|Basis of Allotment|
INDOCO REMEDIES LIMITED
BASIS OF ALLOCATION
PUBLIC ISSUE OF 30,00,000 EQUITY SHARES OF RS. 10/- EACH AT A PRICE OF RS.245/- PER SHARE FOR AGGREGATING RS.73.50 CRORES BY INDOCO REMEDIES LIMITED ("INDOCO") THE ISSUE CONSTITUTES 25.38% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY
THE FACE VALUE OF THE EQUITY SHARES IS RS.10 AND THE ISSUE PRICE IS 24.5 TIMES OF THE FACE VALUE.
The Issue was made through the 100% book-building scheme wherein upto 50% of the issue was to be allcoated on a discretionary basis to Qualified Institutional Buyers. Further, not less than 25% of the Issue was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Issue was to be made available for allocation on a propotionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price.
Indoco received 369211 valid bids(a) for 182210075 equity shares resulting in 60.7367 times subscription. The details of the applications received in the issue from Retail, Non-Institutional and Qualified Institutional categories are as under.
(a) Including bids received at cut off price
The Basis of Allotment was finalised in consultation with the National Stock Exchange fo India Ltd.(NSE) on January 5,2005.
A) Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at Issue Price of Rs.245/- per Equity Share, was finalized in consultation with NSE. The category was oversubscribed 70.64020 times. The total number of allottes in this category are 30058. In this category there are 400 allottees per Rs.1 Lac fo issue size. The category-wise details of the Basis of Allocation is as under:
B)Allocation to Non Institutional Investors
The Basis of Allocation to the Non Institutional Investors, who have bid for the issue Price of Rs.245/- per Equity Shares, was finalized in consultation with NSE. The category was oversubscibed 94.6297 times. The total number of allottes in this category are 1842. In this category there are 24.55 allottees per Rs.1Lac of issue Size. A sample of categorywise details of the Basis of Allocation is as under:
c) Allocation to QIBs
The Board of Directors of Indoco Remedies Limited at its Meeting held at Mumbai on January 5,2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.
The Refund Orders have been despatched by January 7.2005 to the address of the investors as registered with the depositories. In case the same are not recevied within 10 days Investors may contact at the address given below. The refund orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The Shares allocated to the successfulapplicants have been credited to their beneficiary accounts subject to vallidatin of the account details with the depositories concerned. Indoco is taking steps to get the Equity shares admitted for trading on The National Stock Exchangeof India Limited and The Stock Exchage, Mumbai within seven working days from the date approval of basis of allocation.
INVESTORS PLEASE NOTE
The details of the allocation made has been hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at WWW.Intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrars to the Issue quoting full name of the First/Sole applicant, eight digit Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submited and payment details at the address given below:
Intime Spectrum Registry Ltd
# THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICTIVE OF THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF INDOCO REMEDIES LIMITED.