|Basis of Allotment|
3i Infotech Limited
(Originally incorporated as ICICI Investor's Services Limited on October 11, 1993 under the Companies Act, 1956, with its registered office at 163, Backbay Reclamation, Bombay 400 020. The name was changed to ICICI Infotech Services Limited on March 9, 1999. Subsequently, the name was changed to ICICI Infotech Limited on October 23, 2002. The name has been changed to 3i Infotech Limited on January 20, 2005. The registered office was shifted to Maratha Mandir Annex, Dr. A. R. Nair Road, Mumbai Central, Mumbai 400 008 with effect from January 15, 1998. Subsequently, the registered office was shifted to 'Zenith House, K. K. Marg, Mahalaxmi, Mumbai 400 034 with effect from September 14, 2000. On July 22, 2002 the registered office was shifted to the address below.)
Registered Office: Tower # 5, 3rd to 6th Floors, International
Infotech Park, Vashi, Navi Mumbai 400 703, Tel:(91 22) 5592 8094; Fax:(91 22) 55592 8094;
BASIS OF ALLOTMENT
Public Issue of 20,000,000 Equity Shares of Rs. 10 each for cash at a price of Rs.100 per Equity Share aggregating Rs.2000 million, (the "Issue") by 3i Infotech Limited ("3i Infotech" or the "Company" or the "Issuer"). 400,000 Equity Shares will be reserved in the Issue for subscription by permanent employees and directors in India of the Company (the "Employee Reservation Portion"). There will also be a Green Shoe Option of 3,000,000 Equity Shares for cash at a price of Rs.100 per Equity Share aggregating Rs.300 million. The Issue adn the Green Shoe Option aggregate Rs.2,300 million. The face value of the Equity Shares is Rs.10 and the Issue price is 10 times the Face Value. The Issue will constitute 39.21% of the fully diluted post Issue paid-up capital of the Company assuming that the Green Shoe Option is not exercised and 42.59% assuming that the Green Shoe Option is exercised in full.
The Book Running Lead Managers ("BRLMs") to the Issue are JM Morgan Stanley Private Limited and DSP Merrill Lynch Limited. ICICI Securities Limited is the Co-Book Running Lead Manager ("CBRLM"). The Equity Shares of the company are proposed to be listed on The Stock Exchange, Mumbai and the National Stock Exchange of India Limited and trading is scheduled to start on or around April 22, 2005.
The Issue was made through a 100 % book building scheme where in upto 2 % of the Issue or 400,000 Equity Shares were reserved for employees. The Net Issue to the Public is thus 19,600,000 Equity Shares. Upto 50 % of the Net Issue to public or 9,800,000 Equity shares was to be available for allocation on a discretionary basis to Qualified Institutional Buyers. Further, not less 15 % fo the Net Issue to Public or 2,940,000 equity shares was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35 % of the Net Issue to Public or 6,860,000 equity shares was to be available for allocation on a proportionate basis to Retail Bidders, subject valid Bids being received at or above the Issue Price.
A summary fo the Final demand at various price levels as per the electronic book is given below
The Company has received 1,68,4554 valid for 118,336,140 Equity shares. The Company, in consultation with the BRLMs and CBRLM has decided to verallovate to the entire extent of the 3,000,000 Equity shares arising out of the Green Shoe option. The 3,000,000 Equity shares have been allocated to the Retail Individual Bidders, Non institutional Bidders and Qualified institutional Bidders in the ratio of 35:15:50. The valid demand (considering highest value bid in case of multiple bids) from Retail, Non Institutional and Institutional categories is as under:
Further, the under subscription in the Employee Category was spilled over to the Non-Institutional Category and the Retail Category in the ratio of 1:1 Thus, the allocation available to the Non_Institutional Category is 3,4557,040 Equity Shares, while the allocation available to the Retail Category is 7,977,040 Equity Shares.
A) Allotment to Non Insutitutional Bidders
The Basis of Allotment to the Non Institutional Bidders who bid at the Issue Price of Rs.100 per Equity Shares was finalised in consultation with the National Stock Exchange of India Limited on a proportionate basis after rounding off to the nearest one share, subject to a minimum allocation of 60 equity shares. The total number of shares allocated in this category is 3,457,040. A sample of the category-wise details and the Basis of Allocation is as under:
B) Allotment to Retail Individual Bidders:
C)Allotment to Qualified Institutional Buyers (QIBs):
D)Allotment to Employees
Allotment details have been hosted on the Registrar's website with the following URL http://www.mcsind.com All correspondences with reference to this issue should be addressed to the Registrars to the offer quoting full name of the Firs/Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Syndicate Member and Place where the bid was submitted and payment details at the following address:
The level of subscription should not be taken to be indicative of either the market price of the Equity Shares on listing or the business prospects of the company.