|Basis of Allotment|
THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY, THIS IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES. NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.
LARSEN & TOUBRO INFOTECH LIMITED
Our Company was incorporated at Mumbai on December 23, 1996 as L&T Information Technology United, a public limited company under the Companies Act 1956. Our Company obtained the certificate of commencement of business on March 25,1997. The name of our Company was subsequently changed to Larsen & Toubroinfotech Limited and the Registrar of Companies, Maharashtra at Mumbai, (the "RoC"; issued a fresh certificate of Incorporation on June 25,2001. For further details, see "History and Certain Corporate Matters" on page 132 of the Prospectus dated July 14, 2016 (the "Prospectus").
Registered Office: L&T House, Ballard Estate,
Mumbai 400 001: Tel: (91 22) 6752 5656; Fax: (91 22)
6752 5893, Corporate Office: L&T Technology Centre, Gate No. 5, Saki
Vihar Road, Powai, Mumbai 400 072; Tel: (91 22} 6776 6776; Fax:
(91 22) 26581130. Contact Person: S. K. Bhatt, Company Secretary
and Compliance Officer, E-mail: firstname.lastname@example.org
: Website: www.lntinfotech.ccm
OUR PROMOTER: LARSEN & TOUBRO LIMITED
The Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSE") and the trading is expected to commence on or about July 21,2016.
BASIS OF ALLOTMENT
PUBLIC OFFER OF UP T0 17,500,000 EQUITY SHARES OF FACE VALUE OF RS 1 EACH (THE
"EQUITY SHARES") OF LARSEN & TOUBRO INFOTECH LIMITED (THE
"COMPANY") FORCASH AT APRICE OF RS 710 PER EQUITY SHARE AGGREGATING UP TO RS
12,363.75* MILLION (THE "OFFER") THROUGH AN OFFER FOR SALE BY OUR PROMOTER,
LARSEN & TOUBRO LIMITED (THE "SELLING SHAREHOLDER"), THE OFFER WOULD
CONSTITUTE 10.30 % OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL
OFFER PRICE: Rs 710 PER EQUITY SHARE OF FACE VALUE OF Rs 1 EACH ANCHOR INVESTOR OFFER PRICE; Rs 710 PER EQUITY SHARE THE OFFER PRICE IS 710 TIMES THE FACE VALUE
Risks to Investors:
i. The three Merchant Bankers associated with the Offer have handled 23 public issues in the past three years out of which 7 issues closed below the issue price on listing date.
ii. Average cost of acquisition of Equity Shares for our Promoter who is also the Selling Shareholder in the IPO is Rs.8.33 per Equity Share and the Offer Price at the upper end of the Price Band is Rs 710 per Equity Share.
BID/ OFFER PERIOD: OPENED ON: MONDAY, JULY 11, 2016;
In terms of Rule 19(2)(b)(ii)of the Securities Contracts (Regulation) Rules, 1957 as amended (the "SCRR"). this is an Offer for at least 10% of the post-Offer paid-up equity share capital of the Company. The Offer has been made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009, as amended (the "SEBI Regulation"), through the Book Building Process wherein not more than 50% of the Offer has been allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs").Our Company and the selling Shareholder have allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third was reserved for domestic Mutual Funds only, in accordance with the SEBI Regulations. Further 5% of the QIB Portion (excluding the Anchor investor Portion) was avaiable for allocation on a proportionals basis to Mutual Funds only, and the remainder of the QiB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds. Further, not less than 15% of the Offer was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer was made available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, All potential investors, other than Anchor Investors, were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account which were blocked by the Self Certified Syndicate Banks ("SCSBs"). to participate in this Offer.
The Offer received 1,054,491 applications for 146,274, 160 Equiiy Shares (prior to technical rejections) resulting in 8.3585 times subscription. The details of the applications received in me Offer from various categories are as under, (before technical rejections):
The Basis of Allotment was finalised in consultation with theDesignated Stock Exchange, being the NSE on July 19,2016.
A. Allotment to Retail Individual Bidders (after technical
rejections) (Including ASBA Applications)
B. Allotment to Non Institutional Investors
C. Allotment to Qualified Institutional Buyers
D. Allotment To Anchor Investors
The IPO Committee our Company on July 19,2016 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimations and/or notices will be dispatched to the address of the investors as registered with the depositaries. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on July 19, 2016 and payment to non-Syndicate brokers have been issued on July 20, 2016 In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successfut Allottees have beenhave been uploaded on July 19, 2016 for credit in to the respective beneficiary accounts subject to validation of the account details with the depositories concerned, The Company has filed the Listing application with NSE and BSE on July 20, 2016. The Company has received listing and trading approval from NSE and BSE and the trading will commence on or about July 21,2016.
All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Regislrar to the offer, Link Intime India Private Limited at www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application form, address of the Bidder, number of Equity Shares applied for. the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:
Linkintime india Private Limited
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO THE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF LARSEN & TOUBRO INFOTECH LIMITED.