Basis of Allotment
Sensing Technology

Sensing Technology

OPTO CIRCUITS (INDIA) LIMITED

(Incorporated as Opto Circuits (India) Private Limited on June 8, 1992 in Bangalore under the Companies Act, 1956 and subsequently converted as a public limited company with effect from April 29, 2000 to Opto Circuits (India) Limited)
Regd. Office: Plot No. 83, Electronics City, Hosur Road, Bangalore 560100. Tel:+91-80-28521040, Fax:+91-80-28521094. Website: www.optoindia.com  Email: fpo@optoindia.com
Compliance Officer & Contact person: Mr. Bodapati Bhaskar, Chief Financial Officer

BASIS OF ALLOCATION

PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF RS 10/- EACH FOR CASH AT A PRICE OF RS. 270/- PER EQUITY SHARE AGGREGATING TO RS. 108.00 CRORES (REFERRED TO AS "THE ISSUE"), OF WHICH 4,00,000 EQUITY SHARES OF RS.10/- EACH ARE RESERVED FOR SUBSCRIPTION BY EXISTING RETAIL SHAREHOLDERS AND 4,00,000 EQUITY SHARES OF RS.10/- EACH ARE RESERVED FOR SUBSCRIPTION BY THE EMPLOYEES. THE ISSUE WOULD CONSTITUTE 12.98% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.270/-EACH AND THE ISSUE PRICE IS 27 TIMES OF THE FACE VALUE.

The Issue is made through the 100% Book Building Process where not more than 50% of the net issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds)., 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 14592 applications for 19394726 equity shares resulting in 4.84 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors, Existing Retail Shareholders and Employees categories are as under (Before technical rejections):

Category No. of Applications No. of shares Subscription
Retail Bidders 12689 1603041 1.43
Non Institutional Bidders 148 1423600 2.96
Qualified Institutional Bidders 22 15801925 9.87
Existing Retail Shareholders 1681 222485 0.55
Employees 52 343675 0.85

Final Demand

The final demand at different bid prices is as under:

Bid Price No. of Shares % to Total Cumulatlve Total Cumulative % to total
240 9375 0.05 19568500 100.00
241 75 0.00 19559125 99.95
242 0 0.00 19559050 99.95
243 100 0.00 19559050 99.95
244 50 0.00 19558950 99.95
245 125 0.00 19558900 99.95
246 0 0.00 19558775 99.95
247 0 0.00 19558775 99.95
248 0 0.00 19558775 99.95
249 50 0.00 19558775 99.95
250 1016200 5.19 19558725 99.95
251 0 0.00 18542525 94.76
252 250 0.00 18542525 94.76
253 0 0.00 18542275 94.76
254 0 0.00 18542275 94.76
255 850 0.00 18542275 94.76
256 0 0.00 18541425 94.75
257 75 0.00 18541425 94.75
258 50 0.00 18541350 94.75
259 0 0.00 18541300 94.75
260 162250 0.83 18541300 94.75
261 50 0.00 18379050 93.92
262 0 0.00 18379000 93.92
263 25 0.00 18379000 93.92
264 25 0.00 18378975 93.92
265 3725 0.02 18378950 93.92
266 325 0.00 18375225 93.90
267 75 0.00 18374900 93.90
268 0 0.00 18374825 3.90
269 50 0.00 18374 25 93.90
270 & Cut Off 18374775 93.90 18374775 93.90
19568500 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on 18 th April, 2006.

A. Allocation to Existing Retail Shareholders

The Basis of Allocation to the Existing Retail shareholders category, who have bid at cut-off or at the Issue Price of Rs.270/- per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.53 times. Hence full and firm allotments have been made against all valid applications. The total number of shares allotted in this category is 215825 Equity Shares. The unsubscribed portion of 184175 equity shares has been added to Retail Individual Investors and Non-Institutional categories in the ratio of 50:50.

B. Allocation to Employees

The Basis of Allocation to the Employees category, who have bid at cut-off or at the Issue Price of Rs.270/- per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.85 times. Hence full and firm allotments have been made against all valid applications. The total number of shares allotted in this category is 343350 Equity Shares. The unsubscribed portion of 56650 equity shares has been added to Retail Individual Investors and Non-Institutional categories in the ratio of 50:50.

C. Allocation to Retail Investors

The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Pride of Rs. 270/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.24 times. The total number of shares allotted in this category is 1240413 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to Total Total No. of shares applied % to Total No. of Shares allocated Ratio Total No. of Shares allocated
25 2378 19.1 59450 3.87 25 13:16 48325
50 2156 17.78 107800 7.01 40 FIRM 86240

ADDITIONAL

 1 1:06 358
75 710 5.85 53250 3.46 61 FIRM 43310
100 1839 15.16 183900 11.96 81 FIRM 148959
125 330 2.72 41250 2.68 101 FIRM 33330
150 555 4.58 83250 5.41 121 FIRM 67155
175 2219 18.30 388325 25.26 141 FIRM 312879
200 265 2.19 53000 3.45 161 FIRM 42665
225 47 0.39 10575 0.69 182 FIRM 8554
250 63 0.52 15750 1.02 202 FIRM 12726
275 22 0.18 6050 0.39 222 FIRM 4884
300 106 0.87 31800 2.07 242 FIRM 25652
325 7 0.06 2275 0.15 262 FIRM 1834
350 1431 11.80 500850 32.58 282 FIRM 403542

D. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at the Issue Price of Rs.270/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 2.32 times. The total number of shares allotted in this category is 600412 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of Applns. % to Total Total No. of shares applied % to Total No. of Shares allocated Ratio Total No. of Shares allocated
375 2 1.55 750 0.05 162 FIRM 324
1000 21 16.28 21000 1.51 431 FIRM 9051
1500 3 2.33 4500 0.32 646 FIRM 1938
2000 8 6.20 16000 1.15 861 FIRM 6888
5000 3 2.33 15000 1.08 2153 FIRM 6459
10000 4 3.10 40000 2.87 4305 FIRM 17220
15000 2 1.55 30000 2.15 6458 FIRM 12916
20000 1 0.78 20000 1.43 8610 FIRM 8610
25000 1 0.78 25000 1.79 10763 FIRM 10763
50000 1 0.78 50000 3.59 21526 FIRM 21526
100000 1 0.78 100000 7.17 43052 FIRM 43052
500000 1 0.78 500000 35.85 215245 FIRM 215245

E. Allocation to QIBs
Allocation to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (80000) and "other QIBs" and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1520000) on proportionate basis.

Captured FIs/Banks MFs FIIs Total
No.of Shares 193490 269748 1136762 1600000

The Board of Directors of the company at it's Meeting held at Hyderabad on 19th April, 2006 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The Refund Orders and allotment advice and notice has been dispatched to the address of the investors as registered with the depositories. In case of applicants residing in Ahmedabad,Bangalore, Bhubaneshwar, Kolkata, Chandigarh, Chennai,Gauhati, Hyderabad, Jaipur, Kanpur, Mumbai, Nagpur, New Delhi, Patna and Thiruvanthapuram, any of the centres specified by SEBI, the refunds shall be credited to the bank accounts of the applicants through electronic transfer of funds by using electronic clearance service (ECS) Direct Credit, Real Time Gross Settlement or National Electronic Funds Transfer (NEFT), as is for the time being permitted by the Reserve Bank of India. In case the same is not received within ten days, investors may contact at the address given below. 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 National Stock Exchange of India Limited and Bombay Stock Exchange 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 websik of Registrars to the Issue, Karvy Computershare Private Limited at www.karvy.com or http://karisma.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
[Unit: Opto Circuits (India) Limited], Karvy House, 46, Avenue 4, Street No.1, Banjara Hills,
Hyderabad-500034, Tel: 040-23420828, Fax: 040-23420814, Email: mailmanager@karvy.com

TOLL FREE - HELPLINE NUMBER 1-600-3454001

Place: Bangalore
Date : April 20,2006

For Opto Circuits (India) Limited
Sd/-
Vinod Ramnani
Chairman 8 Managing Director
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 OPTO CIRCUITS (INDIA) LIMITED.
Close