Basis of Allotment

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i-POWER SOLUTIONS INDIA LIMITED
(Formerly infrastructures India Limited)

Registered cum corporate office #9/5, 2nd Floor, 2nd Main Road, Karpagam Gardens, Adyar, Chennai - 600 020 Tel / Fax No. (044) 2491 0871, 2491 2892, 2491 4503; Email:info@ipwrs.com

Offer for Sale of 11,11,300 Equity Shares of Rs. 10/- each for cash at par aggregating to Rs. 1,11,13,000/-

Basis of Allotment

The Offeror/The Board of directors thanks trhe Investing public for their good response to the Offer for Sale, which was opened for subscriptrion on 12th January 2004 and closed on 21th January 2004.

The offer for sale has received 1579 valid applications for 21,37,500 equity shares from the Indian public resulting in 1.92 times over subscription. The Basis of Allotment was finalised in consultation with The Stock Exchange, Mumbai (BSE) on 12th February 2004. The allotment was made in the manner mentioned below:

A. Retail category - Individual investors who have applied for shares for a value of Rs 50,000/- or  less (upto 5,000 shares)

As against 9,98,000 equity shares (including 4,42,350 shares unsubscribed from above 5,000 Category), the Company have received 1,573 valid applications for 20,24,200 equity shares in this category resulting in 2.03 times subscription. the details of category wise allotment, which has been made on firm basis except mentioned otherwise, are given below.

Category Shares alloted to each allottee Cagegory Shares allotted to each Allottee
200 100 2400-2500 1200
300 100 2700 1300
Plus 100 in the ratio of 1:2
400 200 2900 1400
500 200
Plus 100 in the ratio of 7:16 3000-3100 1500
600-700 300 3500 1700
800-900 400 3600 1800
1000-1100 500 3800 1900
1200-1300 600 4000-4100 2000
1400-1500 700 4200-4300 2100
1600-1700 800 4400-4500 2200
1800-1900 900 4600-4700 2300
2000-2100 1000 4800-4900 2400
2200 1100 5000 2500

B. NonRetail Cagegory: Individual Investors who have applied shares for a value of more than Rs. 50,000/-(above 5000 Shares), Corporae Bodies, Institutions and others

As against 5,55,650 equity shares available for allotment in this category, the Company has received 6 applicatrions for 1,13,300 equity shsres resulting in 0.204 times subscription. Shares have been allotted on firm basis.  The balance unsubscribed 4,42,350 equity shares have been added with below 5,000 shares applied category.

Refund Orders, allotment Letters and Physical Share Certificates have been dispatched on 16th February 2004 and the beneficiary account of allottees with Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NSDL) have been credited on 18th February 2004. The listing application has been filed with The Stock Exchange, Mumbai (BSE) on 16th February 2004.

All future correspondence in this respect should be addressed to the Registrar to the offer at their below mentioned address by mentioning full name of First Applicant, Application No., No. of Shares applied and Bank Branch where the application has been lodged.

 

Cameo Corporate Services Ltd.
Unit: i-Power Solutions India Limited,
Subramaniam Building, V Floor, No. 1,
Club House Road, Chennai- 600 002
Tel: +91 44 28460390 (5 lines) Fax: +91 44 28460129
E-mail:rdr@cameoindia.com
Contact Person: Mr. R. D. Ramasamy


.

Place : Channai
Date: 20.02.2004
 

By order of the Board
For i-Power solutions India Limited


Venugopalan Parandhaman

Chairman

Offeror

Venugopalan Parandhaman

 


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