|Basis of Allotment|
TRIVENI ENGINEERING & INDUSTRIES LIMITED
(Incorporated on July 27, 1932 under the Companies Act, 1913 as The
Ganga Sugar Corporation Limited.
PUBLIC ISSUE OF 50,000,000 EQUITY SHARES OF RS.1 EACH FOR CASH AT A PRICE OF RS. 48/- PER EQUITY SHARE AGGREGATING RS.2400.00 MILLION (REFERRED TO AS 'THE ISSUE"). THE ISSUE WILL CONSTITUTE 19.39% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS.1/- EACH FOR CASH AT A PRICE OF RS.48/- EACH AND THE ISSUE PRICE IS 48 TIMES OF THE FACE VALUE.
The Issue made through the 100% Book Building Process wherein up to 50% of the Issue to the public was to be allocated on a discretionary basis to Qualified Institutional Buyers ("QIBs"). Further, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% 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 58616 applications for 503889741 equity shares resulting in 10.07 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under:
A sample of the final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with Bombay Stock Exchange Limited ("BSE") on 6th December, 2005.
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.48/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.94 times. The total number of shares allotted in this category is 17500000 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.48/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.49 times. The total number of shares allotted in this category is 7500000 Equity Shares. The category-wise details of the Basis of Allocation are as under:
C. AIIocatlon to QIBs
The committee of Directors for Public Issue of the company at it's meeting held at Hyderabad on 7th December, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.
The Refund Orders will be 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershars Private Limited at www.karvy.com or http://kcpl.karvy.com
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:
Karvy Computershare Private Limited
TOLL FREE - HELPLINE NUMBERS
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 THE COMPANY.