|Basis of Allotment|
SUN TV LIMITED
(Originally Incorporated as Sumangali Publications Private Limited on
December 18, 1985 and subsequently changed to SUN TV Limited under the Companies Act, 1956
BASIS OF ALLOCATION
PUBLIC ISSUE OF 6,889,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 875/- PER EQUITY SHARE AGGREGATING TO RS. 60,278.75 LACS (REFERRED TO AS "THE ISSUE").THE ISSUE WOULD CONSTITUTE 10% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.875/- EACH AND THE ISSUE PRICE IS 87.5 TIMES OF THE FACE VALUE.
The Issue made through the 100% Book Building Process where at least 60% of the net issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds). Further, up to 10% of the net issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 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 above the Issue Price.
The Issue received 114852 applications for 323262223 equity shares resulting in 46.92 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under (Before technical rejections):
The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on 19th April, 2006.
A. Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.875/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.83 times. The total number of shares allotted in this category is 2066700 Equity Shares. The category-wise details of the Basis of Allocation are as under:
B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at and above the Issue Price of Rs.875/- -per Equity Share, was finalized in consultatien with BSE. The category was subscribed 35.45 times. The total number of shares allotted in this category is 688900 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:
C. Allocation to QIBs
Allocation to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (206670) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (3926730) on proportionate basis. The sectoral cap and other limits applicable to the holding of shares in company have been taken into account while allotting shares. Mutual Funds were allotted 22.15% for QIB segment and other QIB applicants were allotted 77.85% of the shares for QIB segment.
The Committee of Directors of the company at it's Meeting held at Chennai on 20'" April, 2006 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The Refund Orders and allotment advice and notice has been 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 applicants are being credited to their beneficiary accounts subject to validation 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 Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
All future correspondence in this regard may kindly 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 address given below:
TOLL FREE - HELPLINE NUMBER
|THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SUN TV LIMITED.|