|Basis of Allotment|
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)
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):
The final demand at different bid prices is as under:
The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange
Limited ("BSE") on 18 th April, 2006.
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:
D. Allocation to Non Institutional Investors
E. Allocation to QIBs
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.
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:
TOLL FREE - HELPLINE NUMBER 1-600-3454001
|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.|