SUZLON ENERGY LIMITED
(Incorporated as a public limited company under the Companies Act, 1956 on April 10,1995.)
Registered Office: "Suzlon", 5, Shrimali Society, Near Shri
Krishna Complex, Navrangpura, Ahmedabad 380 009
Tel:+91-79-26471100 Fax:+91-79-2656 5540 Website: www.suzlon.com
Email: investors@suzlon.com
BASIS OF ALLOCATION
PUBLIC ISSUE OF 29,340,000 EQUITY SHARES OF THE FACE VALUE OF
RS.10 EACH AT A PRICE OF RS. 510/- PER EQUITY SHARE FOR CASH AGGREGATING RS. 14963.40
MILLION (REFERRED TO AS THE "ISSUE"), INCLUDING EMPLOYEE RESERVATION OF 585,000
EQUITY SHARES. THE NET OFFER TO PUBLIC CONSTITUTES 10.20% OF THE FULLY DILUTED POST ISSUE
PAID-UP EQUITY CAPITAL OF SUZLON ENERGY LIMITED ("ISSUER" OR "THE
COMPANY").
THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH AND THE ISSUE
PRICE IS 51 TIMES OF THE FACE VALUE
The Issue made through the 100% Book Building Process wherein 60% of the Issue to the
public was to be allocated on a discretionary basis to Qualified Institutional Buyers
("QIBs"), Further, not less than 10% of the Net Issue to the public shall be
available for allocation on a proportionate basis to Non-lnstitutlonal Bidders and not
less than 30% of the Net issue to the public shall be available for allocation on a
proportionate basis to Retail Bidders, subject to valid bids being received at or bove the
Issue Price.
The Issue received 522600 applications for 1348067229 equity shares resulting in 45.94
times subscription. The details of the application received in the Issue from Retail, Non
Institutional, Employees and Qualified Institutional Buyers categories (before technical
rejections) are as under:
Category |
No. of Applications |
No. of Shares |
Subscription |
Qualified Institutional Buyers |
438 |
1178399004 |
68.31 |
Non Institutional Investors |
3363 |
115887748 |
40.31 |
Retail Individual Investors |
517642 |
52927133 |
6.14 |
Employees |
1157 |
853344 |
1.46 |
Final Demand
A sample of the final demand at different bid prices is as under:
Bid Price |
No.of Shares |
% to Total |
cumulative Total |
Cumulative%
to Toal |
425 |
266304 |
0.020 |
1345899780 |
100.000 |
426 |
504 |
0.000 |
1345633476 |
99.980 |
427 |
252 |
0.000 |
1345632972 |
99.980 |
428 |
36 |
0.000 |
1345632720 |
99.980 |
429 |
2724 |
0.000 |
1345632684 |
99.980 |
430 |
3684 |
0.000 |
1345629960 |
99.980 |
431 |
72 |
0.000 |
1345626276 |
99.980 |
432 |
60 |
0.000 |
1345626204 |
99.980 |
433 |
72 |
0.000 |
1345626144 |
99.980 |
434 |
876 |
0.000 |
1345626072 |
99.980 |
435 |
36 |
0.000 |
1345625196 |
99.980 |
436 |
22748 |
0.000 |
1345625160 |
99.980 |
437 |
1152 |
0.000 |
1345622412 |
99.979 |
438 |
12 |
0.000 |
1345621260 |
99.979 |
439 |
12 |
0.000 |
1345621248 |
99.979 |
440 |
12 |
0.000 |
1345621236 |
99.979 |
441 |
468 |
0.000 |
1345621224 |
99.979 |
442 |
144 |
0.000 |
1345620756 |
99.979 |
443 |
162708 |
0.012 |
1345620612 |
99.979 |
444 |
564 |
0.000 |
1345457904 |
99.967 |
445 |
96 |
0.000 |
1345457340 |
99.967 |
446 |
11928 |
0.001 |
1345457244 |
99.967 |
447 |
10008 |
0.001 |
1345445316 |
99.966 |
448 |
408 |
0.000 |
1345435308 |
99.965 |
449 |
60 |
0.000 |
1345434900 |
99.965 |
450 |
48 |
0.000 |
1345434840 |
99.965 |
451 |
24 |
0.000 |
1345434792 |
99.965 |
452 |
12 |
0.000 |
1345434768 |
99.965 |
453 |
271740 |
0.020 |
1345434756 |
99.965 |
454 |
180 |
0.000 |
1345163016 |
99.945 |
455 |
9456 |
0.001 |
1345162836 |
99.945 |
456 |
24 |
0.000 |
1345153380 |
99.945 |
457 |
10536 |
0.001 |
1345153356 |
99.945 |
458 |
24 |
0.000 |
1345142820 |
99.944 |
459 |
1908 |
0.000 |
1345142796 |
99.944 |
460 |
348 |
0.000 |
1345140888 |
99.944 |
461 |
60 |
0.000 |
1345140540 |
99.944 |
462 |
180228 |
0.013 |
1345140480 |
99.944 |
463 |
12 |
0.000 |
1344960252 |
99.930 |
464 |
12 |
0.000 |
1344960240 |
99.930 |
465 |
36 |
0.000 |
1344960228 |
99.930 |
466 |
60 |
0.000 |
1344960192 |
99.930 |
467 |
95412 |
0.007 |
1344960132 |
99.930 |
468 |
9540 |
0.001 |
1344864720 |
99.923 |
469 |
48 |
0.000 |
1344855180 |
99.922 |
470 |
504 |
0.000 |
1344855132 |
99.922 |
471 |
84 |
0.000 |
1344854628 |
99.922 |
472 |
188676 |
0.014 |
1344854544 |
99.922 |
473 |
636 |
0.000 |
1344665868 |
99.908 |
474 |
8880 |
0.001 |
1344665232 |
99.908 |
475 |
24 |
0.000 |
1344656352 |
99.908 |
476 |
48 |
0.000 |
1344656328 |
99.908 |
477 |
175488 |
0.013 |
1344656280 |
99.908 |
478 |
36 |
0.000 |
1344480792 |
99.895 |
479 |
372 |
0.000 |
1344480756 |
99.895 |
480 |
251484 |
0.019 |
1344480384 |
99.895 |
481 |
84 |
0.000 |
1344228900 |
99.876 |
482 |
36 |
0.000 |
1344228816 |
99.876 |
483 |
1524 |
0.000 |
1344228780 |
99.876 |
484 |
12 |
0.000 |
1344227256 |
99.876 |
485 |
108 |
0.000 |
1344227244 |
99.876 |
486 |
312 |
0.000 |
1344227136 |
99.876 |
487 |
120876 |
0.009 |
1344226824 |
99.876 |
488 |
4440 |
0.000 |
1344105948 |
99.867 |
489 |
360 |
0.000 |
1344101508 |
99.866 |
490 |
168 |
0.000 |
1344101148 |
99.866 |
491 |
3132 |
0.000 |
1344100980 |
99.866 |
492 |
60 |
0.000 |
1344097848 |
99.866 |
493 |
12 |
0.000 |
1344097788 |
99.866 |
494 |
156 |
0.000 |
1344097776 |
99.866 |
495 |
216 |
0.000 |
1344097620 |
99.866 |
510 & Cut off |
1344097404 |
99.866 |
1344097404 |
99.866 |
|
1345899780 |
100.00 |
|
|
The Basis of Allotment was finalized in consultation with The National Stock Exchange
of India Limited ("NSE") on 11th October, 2005.
A) Allocation to Employees
The Basis of Allocation to the employees of Suzlon Energy Limited, who have bid at
cut-off or at the Issue Price of Rs.510/- per Equity Share, was finalized in
consultation with NSE. The category was over subscribed 1.45 times. The total number of
shares allotted in this category is 585,000 Equity Shares. The sample category-wise
details of the Basis of Alloction are as under:
Category |
No. Of
Applns. |
% to total |
Total No.
of Shares
applied |
% to total |
No. Of
Shares
allocated |
Ratio |
Total No.
of Shares
allocated |
12 |
111 |
9.63 |
1332 |
0.16 |
12 |
FIRM |
1332 |
24 |
65 |
5.64 |
1560 |
0.18 |
16 |
FIRM |
1040 |
504 |
6 |
0.52 |
3024 |
0.35 |
346 |
FIRM |
2076 |
1008 |
4 |
0.35 |
4032 |
0.47 |
691 |
FIRM |
2764 |
2004 |
2 |
0.17 |
4008 |
0.47 |
1375 |
FIRM |
2750 |
3000 |
3 |
0.26 |
9000 |
1.06 |
2057 |
FIRM |
6171 |
4008 |
1 |
0.09 |
4008 |
0.47 |
2749 |
FIRM |
2749 |
8520 |
1 |
0.09 |
8520 |
1.00 |
5843 |
FIRM |
5843 |
9612 |
1 |
0.09 |
9612 |
1.13 |
6576 |
FIRM |
6576 |
9792 |
16 |
1.39 |
156672 |
18.37 |
6685 |
FIRM |
106960 |
B) Allocation to Retail Individual Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above
the Issue Price of Rs.510/- per Equity Share, was finalized in consultation with NSE. The
category was over subscribed 6.04 times. The total number of shares allotted in this
category is 8626500 Equity Shares. The sample category-wise details of the Basis of
Allocation are as under:
Category |
No. Of
Applns. |
% to
total |
Total No.
of Shares
applied |
% to
total |
No. Of
Shares
allocated |
Ratio |
Total No.
of Shares
allocated |
12 |
25581 |
5.02 |
306972 |
0.59 |
12 |
1:6 |
51168 |
24 |
28741 |
5.64 |
689784 |
1.32 |
12 |
1:3 |
114960 |
36 |
17982 |
3.53 |
647352 |
1.24 |
12 |
1:2 |
107892 |
48 |
22570 |
4:43 |
1083360 |
2.08 |
12 |
2:3 |
180564 |
60 |
17798 |
3.49 |
1067880 |
2.05 |
12 |
5:6 |
177984 |
132 |
723 |
0.14 |
95436 |
0.18 |
22 |
Firm |
15906 |
168 |
742 |
0.15 |
124656 |
0.24 |
28 |
Firm |
20776 |
180 |
2617 |
0.51 |
471060 |
0.90 |
30 |
Firm |
78510 |
192 |
104632 |
20.53 |
20089344 |
38.52 |
31 |
Firm |
3243592 |
|
|
|
|
1 |
35:93 |
39378 |
|
C) Allocation to Retail Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at the Issue Price of
Rs.510/- per Equity Share, was finalized in consultation with NSE. The category was
subscribed 40.27 times. The total number of shares allotted in this category is
2875500 Equity Shares. The sample category-wise details of the Basis of Allocation
are as under.
Category |
No. Of
Applns. |
%to
total |
Total No.
of Shares
applied |
%to
total |
No. of
Shares
allocated |
Ratio |
Total No.
of Shares
allocated |
204 |
217 |
6.78 |
44268 |
0.04 |
12 |
3:7 |
1116 |
216 |
34 |
1.06 |
7344 |
0.01 |
12 |
3:7 |
180 |
228 |
11 |
0 34 |
2508 |
0 00 |
12 |
5:11 |
60 |
240 |
106 |
3.31 |
25440 |
0.02 |
12 |
1:2 |
636 |
1008 |
29 |
0.91 |
29232 |
0.03 |
25 |
Firm |
725 |
10008 |
24 |
0.75 |
240192 |
0.21 |
248 |
Firm |
5952 |
20004 |
24 |
0.75 |
480096 |
0.41 |
497 |
Firm |
11928 |
25020 |
1 |
0.03 |
25020 |
0.02 |
621 |
Firm |
621 |
30000 |
23 |
0.72 |
690000 |
0.60 |
745 |
Firm |
17135 |
40008 |
2 |
0 06 |
80016 |
0 07 |
994 |
Firm |
1988 |
100008 |
7 |
0.22 |
700056 |
0.60 |
2483 |
Firm |
17381 |
500004 |
4 |
0.12 |
2000016 |
1.73 |
12413 |
Firm |
49652 |
1000008 |
1 |
0.03 |
1000008 |
0.86 |
24827 |
Firm |
24827 |
2000004 |
1 |
0.03 |
2000004 |
1.73 |
49653 |
Firm |
49653 |
9802800 |
1 |
0.03 |
9802800 |
8.46 |
243192 |
Firm |
243192 |
D) Allocation of QIBs
Category |
Fls/ Banks |
MFs |
FIIs |
Insurance
Companies |
Venture
Capital |
Total |
No. of Shares |
808400 |
3487600 |
12226500 |
730500 |
500 |
17253000 |
The Committee of Direct of IPO of the Company at its meetings held at hyderabad on 13th
October, 2005 has approved the basis of allocation of shares and allotted the shares to
various successful applicants.
The Refund Orders will be 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 Mandate
details as registered, if any, with the depositories. The shares allocated to successful
applicantss are being credited to their benficiary accounts subject to validation of the
accounts details with the depositories concerned. The Company is taking steps to get the
equity shares admitted for trading on The National Stock Exchange of India Limited and
bombay Stock Exchange Limited within seven working days from the date of approval of the
basis of allocation.
RECENT DEVELOPMENTS
Memorandum of Understanding with a Promoter Group Company
On October 6, 2005, the Company entered into a memorandum of understanding with
Kush Synthetics Pvt. Ltd. ("KSPL"), a company that is owned by the
brother-in-law of the Company's chairman, Mr. Tulsi R. Tanti. Under the terms of the
memorandum of understanding, KSPL agrees to supply the Company, and the Company agrees to
procure from KSPL, a minimum of 4,500 metric tons per annum of glass fibre
fabric (which is used in the manufacture of WTG rotor blades) at a price of approximately
Rs. 106.22 per kilogram. The price may be adjusted upwards as set out in the memorandum of
understanding. The amount of glass fibre fabric to be supplied by KSPL is approximately
one-third of the Company's annual glass fibre fabric requirements.
The Company will also assist KSPL in the construction of KSPL's glass fibre manufacturing
facility, including helping arrange a term loan to finance such construction, will have
input in the appointment of the key personnel of KSPL and will undertake project
monitoring and management of KSPL's glass fibre manufactring facility.
The memorandum of understanding is for a minimum term of three years from October 6, 2005,
up to maximum term of seven years from such date. The Company belives the terms of the
memorandum of understanding were agreed upon and entered into on an arm's length basis.
Notice received by Sarjan Securities Private Limited ("SSPL")
The company has been informed by SSPL, which ceased to be Promoter group entity
with effect from March 30, 2002, that SSPL received a show cause notice dated
October 5, 2005, from the Securities and Exchange Board of India for alleged violation of
the SEBI (Prohibitions of Fraudulent and Unfair Trade Practice relating to the Securities
Markets) Regulations 1995. None of the company, its Promoters nor itss directors or
officers were named in this notice.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the
Issue,
karvy Computershare Private Limited at www.karvy.com or
http://kcpl.karvy.com
All future corresspondence in this regard may kindly be addressed to the
Registrar 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 Sydicate and
Place where the bid was submitted and payment details at the address given below:
Karvy computershare private Limited
Unit: Suzlon, Karvy House,
46, Avanue 4, Street No.1. Banjara Hills,
Hyderabad -500 034, Fax: 040-23311968
Email: suzlon.ipo@karvy.com or mailmanager@karvy.com
TOLL FREE - HELPLINE NUMBERS: 1-600-3454001
Place : Ahmedabad
Date : 14th October, 2005 |
For Suzlon Energy Limited
sd/-
Hemal Kanuga
Company Secretary |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE
MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSSINESS PROSPECTS OF SUZLON ENERGY
LIMITED. |