|Basis of Allotment|
i-POWER SOLUTIONS INDIA
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:firstname.lastname@example.org
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.
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.