Basis of Allotment

Petronet LNG LimitedRegistered Office

Petronet LNG Limited

Registered Office: World Trade Centre, 1st Floor, Babar Road, Barakhamba Lane, New Delhi 110001
Tel: +91-11-23423616 Fax: +91-11-23414271 Email: investorpetronetlng@com

Public Issue of 260,979,900 Equity Shares (Net Offer to Public 234,882,000 Equity Shares) of Rs. 10 each at a price of Rs. 15 for Cash aggregating Rs. 3,914.70 million (hereinafter referred to as the "Issue").

The Issue was made through a 100% Book Building Process wherein up to 50% of the Net Offer to the Public was to be allocated on a discretionary basis to Qualified Institutional Buyers ("QIBs").  Further, not less than 25% of the Net Offer to the Public was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Net Offer to the Public was to be made available for allocation on a proportionate basis to Retail Bidders.

BASIS OF ALLOCATION

Category NO. of valid bids No. of shares bid Subscription (times)
Institutional Investors 26 67552200 0.58
Non Institutional Investors 4366 175086250 2.98
Retail Investors 658787 584475681 9.95
Employees 68417 65629179 2.51

Final Demand

A sample of the final demand at different bid prices is as under:-

Bid Price No of shares % of Total Cumulative Shares Cumulative %
15* 878665200 82.69 878665200 82.69
14 5141500 0.48 883806700 83.17
13 178808300 16.83 1062615000 100.00

* Including bids received at cut off price

A) Allocation to Non Institutional Bidders:
The Basis of Allocation to the Non Institutional Bidders who have bid for at or above the Issue Price of Rs. 15 per Equity Share, was finalised in consultation with the Stock Exchange, MUmbai, on a proportionate basis after rounding off to the nearest 100 shares.   The total number of shares allocated in this category is 58,720,500 A sample of category-wise details of the Basis of Allocation is as under.:

Category No of applications % of total applications No of shares applied % of Total Bid No of shares allocated Ratio Total shares allocated
3400 88 2.175 299200 0.17 1100 Firm 96800
4000 220 5.437 880000 0.51 1300 Firm 286000
10000 611 15.101 6110000 3.52 3400 Firm 2077400
20000 201 4.968 4020000 2.31 6800 Firm 1366800
50000 97 2.397 4850000 2.79 16900 Firm 1639300
75000 5 0.124 375000 0.22 25300 Firm 126500
140000 1 0.025 140000 0.08 47300 Firm 47300
250000 6 0.148 1500000 0.86 84500 Firm 507000
500000 20 0.494 10000000 5.75 168900 Firm 3378000
1000000 5 0.124 5000000 2.88 337800 Firm 1689000
1500000 2 0.049 3000000 1.73 506700 Firm 1013400
5600000 1 0.025 5600000 3.22 1891800 Firm 1891800
10000000 1 0.025 10000000 5.75 3378200 Firm 3378200

B) Allocation to Retail Bidders:
The Basis of Allocation to the Retail Bidders who have bid for at or above the Issue Price of Rs.15 per Equity Share was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest 100 shares. The total number of shares. The total number of shares allocated in this category is 142208200 including 83487700 shares transferred from QIB category. A sample of category-wise details of the Basis of Allocation.

Category No of applications % of total applications No of shares applied % of Total Bid No of shares allocated Ratio Total shares allocated
200 136828 21.179 27365600 4.75 100 Firm 13682800
700 9033 1.398 6323100 1.10 200 Firm 1806600
1000 121725 18.842 121725000 21.14 200 Firm 24345000
100 3:20 1825900
1400 1260 0.195 1764000 0.31 300 Firm 378000
100 2:5 16900
2500 1858 0.288 4645000 0.81 600 Firm 1114800
3300 34379 5.321 113450700 19.70 800 Firm 27503200

C)Allocation to QIB Bidders:

Category FIs/Banks MFs FIIs VCs
No. of shares 3433300 16870000 13050000 600000

D)Allocation to Employees:
The Basis of Allocation to the Employees who have bid for at or above the Issue Price of Rs.15 per Equity share, was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest 100 shares. The total number of shares allocated in this category is 26097900. A sample of category-wise details of the Basis of Allocation is as under:

Category No of applications % of total applications No of shares applied % of Total Bid No of shares allocated Ratio Total shares allocated
200 5855 8.592 1171000 1.79 100 Firm 585500
300 2385 3.500 715500 1.09 100 Firm 238500
400 2442 3.584 976800 1.49 100 Firm 244200
100 03:05 146500
700 1125 1.651 787500 1.20 300 Firm 337500
1000 26181 38.421 26181000 40.03 400 Firm 10472400
5000 39 0.057 195000 0.30 2000 Firm 78000
10000 27 0.040 270000 0.41 4000 Firm 108000
20000 6 0.009 120000 0.18 8000 Firm 48000
100000 3 0.004 300000 0.46 39900 Firm 119700
190000 2 0.003 380000 0.58 75600 Firm 151200
200000 1 0.001 200000 0.31 79600 Firm 79600

The Committee of Directors has approved the basis of allocation of shares as above and allotted the shares to the various successful applicant on 22nd March, 2004.

The refund orders for non allottees and partial allottees are being despatched by registered post. The shares allocated to the successful applicants will be 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 listed with and admitted for trading in the Stock Exchange Mumbai and The National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

The status of allotement will be hosted at www.karvy.com in due course.

All future correspondences in this regard may kindly be addressed to the Registrars to the issue at the address given below.

M/s Karvy Computershare Private Limited
(formerly a Division of M/s Karvy Consultants Limited)
Unit: Petronet LNG Limited
46, Avenue 4, Street No.1
Banjara Hills
Hyderabad - 500034

For Petronet LNG Limited
R.K.Garg
Company Secretary & Vice President (Finance)

Place: Hyderabad
Date: March 23, 2004

* 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.

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