| Basis of Allotment |
JAIPRAKASH Head Office: 'JA Annexe'54, Basant Lok, Vasant Vihar, New Delhi 110 057 Tel: 91-11-2614 1540, Fax: 91-11-26145389 Email: jhpl.ipo@jalindia.co.in Website: www.jhpl.com (The company was incorporated on December 21, 1994 under the Companies Act, 1956 and obtained Certificate of Commencement of Business on January 9, 1995). Public Offer of 180,000,000 Equity shares of Rs. 10/- each of Jaiprakash Hydro-Power Limited ("JHPL"/"The Company") through Offer for Sale by Jaiprakash Associates Limited ("JAL"/"The Selling Shareholder"), at a price of Rs.32/- per share (hereinafter referred to as the "Offer") The Offer includes reservation for Employees and Directors of the Company and JAL and also for the Shareholders of JAL and Jaypee Hotels Limited (JHL). The Offer would constitute 36.66% of the post offer paid-up capital of the Company. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- AND THE OFFER PRICE IS 3.2 TIMES OF THE FACE VALUE. The offer was made through 100% Book-Building Process. Against the net offer to the public, upto 50% was to be allocated on a discretionary basis to Qualified Institutional Buyers. Further, not less than 25% of the offer was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Offer was to be made available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Offer Price. The offer includes a reservation for Employees and Directors of the Company and JAL to the extent of 1,80,00,000 equity shares and also for the shareholders of JAL and JHL to the extent of 1,80,00,000 equity shares. BASIS OF ALLOCATION The Offer received 4,69,042 valid bids for 99,26,70,700 Equity Shares resulting in 5.51 times subscription. The details of the application received in the Offer from Employees, Shareholders of JAL and JHL Retail Individual, Non-Institutional, Investors and Qualified Institutional Buyers categories as under:
Final Demand A sample of the final demand at different bid prices is as under:
The Basis of Allocation was approved by The National Stock Exchange of India Limited ("NSE") on 11th April, 2005 in terms of the Offer Document at Rs. 32/- per share. A) Allocation to the Employees and Directors of HAL & JHPL For this category 2146 valid applications for 1,29,25,600 Equity Shares were reveived to whom full and firm allocation was made. The unsubscribed portion of 50,74,400 equity shares has been added to shareholders category as prescribed in the Offer Document. B) Allocation to the Shareholders of JAL & JHPL This category was oversubscribed 2.92 times. The total number of shares allotted in this category is 23,074,400 Equity Shares (including 50,74,400 equity shares added from the underscribed portion of employee category). A sample of category-wise details of the Basis of Allocation is as under:
C) Allocation to Retail Investors This category was oversubscribed 10.59 times. The total number of shares allocated in this category is 360,00,00 Equity Shares. The category-wise details of the Basis of Allocation is as under:
D) Allocation to Non Institutional Investors This category was oversubscribed 4.61 times. The total number of shares allocated in this catgory is 360,00,00 Equity Shares. A sample of category-wise details of the Basis of Allocation is as under:
E) ALLOCATION TO QUALIFIED INSTITUTIONAL BUYERS
In terms of the authorisation of the Board of Directors of the respective companies, the Committees of Directors of Jaiprakash Hydro-Power Limited and Jaiprakash Associates Limited at theri respective meetings held on April 12, 2005 have approved the basis of allocation of shares and allocated the shares to various successufl applicants. The desoatch of Refund Orders has been completed by April13, 2005 to the address of the investors as registered with the depositories, The refund orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to the successful bidders have been credited to their beneficiary accounts subject to validatin of the account 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 on The Stock Exchange, Mumbai within seven working days from the date of approval of basis of allocation. INVESTORS PLEASENOTE: The details of the allocation have been hosted on the website of Registrars to the offer, Karvy Computershares Private Limited at www.karvy.com or http://karisma.karvy.com All future correspondence in this regards may kindly be addressed to the Registrars to the offer 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 address given below: Karvy Computershares Private Limited Unit: JP Hydro-Power, Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad 500034. Fax: 040-23311968 Email: jphydro.ipo@karvy.com Website: www.karvy.com TOLL FREE-HELPLINE NUMBERS 1-600-334001
THE LEVEL OF SUBSCRIPTION SHOULD BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISITNG OR THE BUSINESS PROSPECTS OT JAIPRAKASH HYDRO-POWER LIMITED |
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