INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED
(Incorporated on January 13,1997 under the Companies Act, 1956 as a public lmited company)
Regd Office: ITC Centre, 3rd floor, 760, Anna Salai, Chennai 60002, India,
Tel: +91-44-28559445 Fax:+91-44-28547597.
Corporate Office: Ramon House, H T Parekh Marg, 169, Backbay, Reclamation, Mumbai 400020,
India.
Tel:+91-22-56339100 Fax:+91-22-22029711, Website: www.idfc.com
Email: Ipo@idfc.com
BASIS OF ALLOCATION
PUBLIC ISSSUE OF 403,600,000 EQUITY SHARES OF RS.10 EACH FOR CASH AT A PRICE OF
RS.34/- PER EQUITY SHARE AGGREGATING RS.1372.24 CRORES, COMPRISING A FRESH ISSUE OF
120,000,000 EQUITY SHARES OF RS. 10 EACH BY INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY
LIMITED ("IDFC", THE "COMPANY" OR THE "ISSUER") AND AN OFFER
FOR SALE OF 283,600,000 EQUITY SHARES OF RS.10 EACH BY THE SELLING SHAREHOLDERS. THE FRESH
ISSUE AND THE OFFER FOR SALE ARE JOINTLY REFERRED TO HEREIN AS THE ISSUE, THE ISSUE WILL
CONSTITUTE 36.96% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.
THE FACE VALUE PERR EQUITY SHARE IS RS.10/- EACH FOR CAHS AT A PRICE OF RS.34/- EACH AND
THE ISSUE PRICE IS 3.4 TIMES OF THE FACE VALIUE.
The Issue was made through the 100% Book building Process wherein 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 then 35% of the Net Issue to the public shall be availbale for allocation on a
proportionate basis to Retail Bidders, Subject to valid bids being received at or above
the Issue Price. The Issue received 632,219 applications for 15,142,260,387 equity shares
reulting in 37.51 times subscription. The details of the application received in the Issue
from Retail, Non Institutional and Qualified Institutional Investor categories are as
under:
| Category |
No. of Applications |
No. of Shares |
Subscription |
| Qualified Institutional Buyers |
555 |
10,959,801,200 |
54.32 |
| Non Institutional Investors |
5.686 |
3.425.650.000 |
56.59 |
| Retail Investors |
625,978 |
756,809.187 |
5.36 |
Final Demand
A sample of the final demand at different bid prices is as under:
| Bld Price |
No.of Share |
% to Total |
Cumulative Total |
Cumulative % to total |
| 29 |
4,863,600 |
0.032 |
15,206,442,800 |
100.000 |
| 30 |
11,042,000 |
0.073 |
15.201,579.200 |
99.968 |
| 31 |
1,052.800 |
0.007 |
15,190,537,200 |
99.895 |
| 32 |
14,165,400 |
0.093 |
15,189.484,400 |
99.888 |
| 33 |
1,405,400 |
0.009 |
15,175,319,000 |
99.795 |
| 34 |
14,442,936,000 |
94.979 |
15,173,913,600 |
99.786 |
| at cut off |
730977600 |
4.807 |
730977600 |
4.807 |
|
15,206,442,800 |
100.00 |
|
|
The Basis of Allotment was finalized in consultation with The National Stock Exchange
Limited ("NSE") on 4th August, 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.34/- per Equity shares, was finalized in consltation with
NSE. The category was over subscribed 5.26 times. The total number of shares alloted in
this category is 14,260,000 Equity Shares. The category-wise details of the Basis of
Allotment are as under:
| Category |
NO. Of Applns |
% to total |
Total No.of
Shares appllied |
% to total |
No. of
Shares allocated |
Ratio |
Total No.
of Shaare
allocated |
| 200 |
69,270 |
11.29 |
13,854,000 |
1.86 |
200 |
4:21 |
2,638,800 |
| 400 |
60,939 |
9.93 |
24,375,600 |
3.28 |
200 |
19:50 |
4,631,400 |
| 600 |
48,263 |
7.86 |
28,957.800 |
3.89 |
200 |
29:51 |
5,488,800 |
| 800 |
20,623 |
3.36 |
16,502,400 |
2.22 |
200 |
3:4 |
3.094,200 |
| 1,000 |
58,011 |
9.45 |
58,011,000 |
7.79 |
200 |
18:19 |
10,991.600 |
| 1,200 |
18,064 |
2.94 |
21,676,800 |
2.91 |
228 |
FIRM |
4,118.592 |
|
|
|
|
|
1 |
1:72 |
250 |
| 1,400 |
254,828 |
41.52 |
356,759,200 |
47.93 |
266 |
FIRM |
67,784,248 |
| 1,600 |
3,021 |
0.49 |
4,833,600 |
0.65 |
304 |
FIRM |
918.384 |
| 1,800 |
1,108 |
0.18 |
1,994,400 |
0.27 |
342 |
FIRM |
378,936 |
| 2,000 |
4,789 |
0.78 |
9.578.000 |
1.29 |
380 |
FIRM |
1,819.820 |
| 2,200 |
1,229 |
0.20 |
2,703,800 |
0.36 |
418 |
FIRM |
513,722 |
| 2,400 |
1.434 |
0.23 |
3,441.600 |
0.46 |
456 |
FIRM |
653,904 |
| 2,600 |
1,464 |
0.24 |
3,806,400 |
0.51 |
493 |
FIRM |
721,752 |
| 2,800 |
70,632 |
11.51 |
197,769,600 |
26.57 |
531 |
FIRM |
37,505,592 |
B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at cut-off or at
and above the Issue Price of Rs.34/- per Equity shares was finalized in consultation with
NSE. The category was subscribed 56.53 times. The total number of shares allotted in this
category is 60,540,000 Equity Shares. A select sample of the category-wise details of the
Basis of Allocation is as under:
| Category |
No. of Appins. |
%to total |
Total No.
of Shares applied |
% to total |
NO. Of Shares allocated |
Ratio |
Total No.
of Shares allocated |
| 3,000 |
392 |
7.01 |
1,176,000 |
0.03 |
200 |
4:15 |
21,000 |
| 3,200 |
38 |
0.68 |
121,600 |
0.00 |
200 |
3:10 |
2,200 |
| 10,000 |
200 |
3.58 |
2.000,000 |
0.06 |
200 |
6:9 |
35,600 |
| 100,000 |
264 |
4.72 |
26,400.000 |
0.77 |
1,769 |
FIRM |
467,016 |
| 200,000 |
112 |
2.00 |
22,400,000 |
0.65 |
3,538 |
FIRM |
396.256 |
| 1,000,000 |
57 |
1.02 |
57,000,000 |
1.67 |
17,689 |
FIRM |
1,008.273 |
| 2,000,000 |
19 |
0.34 |
38,000,000 |
1.11 |
35,378 |
FIRM |
672.182 |
| 5,000,000 |
9 |
0.16 |
45,000,000 |
1.31 |
88,446 |
FIRM |
796.014 |
| 10,000,000 |
14 |
0.25 |
140,000,000 |
4.09 |
176,892 |
FIRM |
2,476.488 |
| 102,940,000 |
1 |
0.02 |
102,940,000 |
3.01 |
1,820,930 |
FIRM |
1,820.930 |
| 403,600,000 |
1 |
0.02 |
403,600,000 |
11.79 |
7,139,302 |
FIRM |
7,139.302 |
C. Allocation to QIBs
| Category |
Fla/Banks |
MFs |
FLLs |
Insurance Companies |
VCs |
Total |
| No. of Shares |
6,810,360 |
30,262,038 |
156,344,232 |
8,381,120 |
2,250 |
201,800,000 |
The Committes of Directors for IPO of the Company at it's Meeting held
at Mumbai on 5th Augugst, 2005 has approved the basis of allocation of shares and alloted
the shares to various succesful 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 succesful
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 The Natonal Stock Exchange of India Limited and the
Stock Exchange.Mumbai within seven working days from the date of approval of the basis fo
alloction.
INVETORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registras to the
issue, Karvy Computershare 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
Unit: IDFC, Karvy House, 46, Avenue 4, Street No.1, Banjara hills, Hyderabad-500034, Fax:
040-23311968
Email: idfc.ipo@karvy.com or mailmanager@karvy.com
TOLL FREE- HELPLINE NUMBERS 1-600-3454001
Place : Mumbai
Date : August 05, 2005 |
For infrastructure Development Finance Company
Limited
Sd/-
Rajiv Lall
Managing Director & CEO |
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 INFRASTRUCTURE
DEVELOPMENT FINANCE COMPANY LIMITED. |