Basis of Allotment

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Patni Computer Systems Limited
Registered Office: S-1A Irani market Compount, Yerawads, Pune 411 006 Tel: +9120 2669 3457; Fax: +91 20 2669 3859; Website : www.patni.com

Corporate Office: Akruti Softech Park, MIDC Cross Road No. 21, Andheri East, Mumbai 400 093
Tel: 91 22 5693 0500, Fax: 91-22-5693 0211, email: patniipo@patni.com

Public Issue of 1,87,24,000 Equity Shares comprising of fresh issue of 1,34,00,000 equity shares of Rs 2 each and offer for sale of 53,24,000 equity shares of Rs 2 each at a price of Rs 230 per equityu share for cash aggregating Rs 431.00 crores. (hereinafter together referred to as the Issue)

This issue is being made through 100% Book Building process wherein 1,12,34,400 equity shares of the issue may be allocated on a discretionary basis to Qualified Institutional Buyers. Further, a minimum of 28,08,600 equity shares of the issue shall be available for allocation on a proportionate basis to Non Institutional Biders and a minimum of 46,81,000 equity shares of the isue shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the issue price.

Basis of Allocation

The company has received 3,26,555 bids for 40,41,95,100 equity shares resulting in 21.60 times subscription. The valid demand (considering highest value bid in case of multiple bids) from institutional, Non institutional and Retail Bidder categories is as under.

Cagegory No. of valid Bids No. of shares bid Subscription (times)
Retail Investors 3,04,672 4,59,42,298 10.19
Non Institutional Investors 11,328 11,10,38,550 40.00
Qualified Institutional Bidders 277 24,68,02,350 4.56

Final Demand

Bid Price No. of Shares %to Total Cumulative Total Cumulative %
At cut off 72631150 17.969 72631150 17.969
230 331219750 81.946 403850900 99.915
229 12900 0.003 403863800 99.918
228 2050 0.001 403865850 99.919
227 750 0.000 403866600 99.919
226 550 0.000 403867150 99.919
225 26900 0.007 403894050 99.926
224 100 0.000 403894150 99.926
223 1000 0.000 403895150 99.926
222 850 0.000 403896000 99.926
221 1200 0.000 403897200 99.926
220 66600 0.016 403963800 99.943
219 200 0.000 403964000 99.943
218 550 0.000 403964550 99.943
217 24300 0.006 403988850 99.949
216 7150 0.002 403996000 99.951
215 19250 0.005 404015250 99.956
214 100 0.000 404015350 99.956
213 1000 0.000 404016350 99.956
212 450 0.000 404016800 99.956
211 1150 0.000 404017950 99.956
210 50300 0.012 404068250 99.969
209 800 0.000 404069050 99.969
208 0 0.000 404069050 99.969
207 900 0.000 404069950 99.969
206 250 0.000 404070200 99.969
205 6500 0.002 404076700 99.971
204 300 0.000 404077000 99.971
203 29750 0.007 404106750 99.978
202 1450 0.000 404108200 99.979
201 1150 0.000 404109350 99.979
200 85750 0.021 404195100 100.000

A.) Allocation to Non Institutional Bidders:

The Basis of Allocation to the Non Institutional Bidders who have bod for at or above the issue price of Rs 230 per equity share, was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nerease 50 shares.  The total numnber of shares allocated in this category is 28,08,600. A sample of category wise details of the Basis of Allocation is as under.

Category No. of applns % of total applns No of shares applied No. of shares allocated Ratio Total shares allocated
250 585 5.74 146250 50 1:7 4200
500 2068 20.31 1034000 50 7:27 26800
1000 1244 12.22 1244000 50 1:2 31100
2000 293 2.88 586000 50 1:1 14650
5000 161 1.58 805000 150 1:1 24150
10000 118 1.16 1180000 250 1:1 29500
50000 143 1.40 7150000 1250 1:1 178750
100000 77 0.76 7700000 2550 1:1 196350
2173900 2 0.02 4347800 55450 1:1 110900
3260000 1 0.01 3260000 83150 1:1 83150

B.) Allocation to Retail Bidders:

The Basis of Allocation to theRetail Bidders who have bid for at or above the Issue Price of Rs. 230 per Equity share, was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest 50 shares.  The total number of shares allocated in this category is 46,96,200 including additional 15,200 shares allotted due to rounding off. A sample of category-wise details of the Basis of Allocation is as under.

Category No. of Applns % of total applns No. of shares applied No. of shares allocated Ratio Total shares allocated
50 44624 15.41 2231200 50 10:93 240000
100 68315 23.59 6831500 50 21:98 731950
150 11681 4.03 1752150 50 11:34 188950
200 164980 56.97 32996000 50 3:7 3535300

C. Allocation to QIB Bidders

Category FIs/Banks MFs FIIs ICs VCs
No of shares allocated 313100 2573500 8102800 205800 39200

Date of Completion of despatch of refund orders: 20.02.2004
Date of credit of shares allocated to successful bidders: 20.02.2004
Date of filing of listing aplication
The Stock Exchange, Mumbai : 20.02.2004
The National Stock Exchange of India Limited : 20.02.2004
Allotment details have been hosted on the website with the following URL http://karisma.Karvy.com/
All correspondences with reference to this issue should be addressed to the Registrars to the Issue quoting full name of the First/Sole applicant, 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 submitted and payment details at the following address:

Karvy Consultants Limited, Unit: Patni - Public Offer, Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad - 500 034. Tel +91 40 2331 2454, Fax: +91 40 2331 1968

Place : Mumbai
Date : February 20, 2004

For Patni Computer Systems Ltd.

Arun Kanakal
Company Secretary

* The level of subscription should not be taken to tbe indicative of either the market price of the Equity Share on listing or the business prospects of the Company




 

 

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