Basis of Allotment

Tantia

Tantia Constructions Limited

(The Company was originally incorporated as Tantia Construction Company Private Limited on December 4,1964 In the State of West Bengal. The Company was converted into a Public Limited Company in the name and style of "Tantia Construction Company Limited" on May 27,1982. The name of the company was further changed to Tantia Construction Limited w.e.f December 29, 2005)

Registered Office: (Registration No.21-26284) 25/27, Netaji Subhas Road, Kolkata - 700001
Tel.: +91-33-2220-6284 Faxl.: +91-33-2230-7403.

Corporate Office: Block-EP, Plot-Y6 sector V Salt Lake City, Kolkata-700 091. Tel.: +91 33 23577651-54, Fax: +91 33 23577656. Website: www.tantiagroup.com , Email: publicissue@tantiagroup.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 1,12,50,000 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PREMIUM OF RS.40/- PER EQUITY SHARE AGGREGATING RS.5625 LACS. NET OFFER TO PUBLIC OF 42,50,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PREMIUM OF RS. 40/- PER EQUITY SHARE AGGREGATING RS. 2125 LACS (THE "NET ISSUE"). THE NET ISSUE WOULD CONSTITUTE 27.30% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE ISSUE PRICE OF Rs. 50/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH IS 5 TIMES THE FACE VALUE

The Issue was made through the 100% Book Building Process wherein up to 50% of the Net Issue to the Public was allocated on a proportionate basis to Qualified Institutional Buyers, out of which 5% of the QIB portion was available for allocation on a proportionate basis to mutual funds only, and the remaining QIB portion was available for allocation on a proportionate basis to all Qualified Institutional Buyers, including mutual funds, subject to valid bids being received at or above issue price. Further at least 15% of the Net Issue to the Public was available for allocation on a proportionate basis to Non-Institutional bidders and at least 35% of the Net Issue to the Public was available for allocation on a proportionate basis to Retail Individual Bidders subject to valid bids being received from them at or above the Issue Price.

The Issue received 139825 applications for 33,64,86,625 equity shares resulting in 77.35 times subscription. The details of applications received in the Issue from Retail, Non-Institutional, Qualified Institutional Buyers and Employee categories are as under:

Category No. of Applications No of Shares Bid* No. of times Subscribed #
Retail Bidders 139016 123192000 82.82
Non-Institutional Bidders 675 137675250 215.96
Qualified Institutional Bidders 81 75306750 35.44
Employees 53 312625 3.13
Total 139825 336486625 77.35

Final Demand

The final demand at different bid prices is as under

Bid Price No. of Equity shares % of Total Cumulative Total Cumulative %
45 1854375 0.50 1854375 0.50
46 105500 0.03 1959875 0.53
47 797875 0.22 2757750 0.75
48 1712375 0.47 4470125 1.22
49 520125 0.14 4990250 1.36
50 & Cut Off 361538625 98.64 366528875 100.00
366528875 100.00

The Basis of allocation was finalized in consultation with Bombay Stock Exchange Limited ("BSE") (The Designated Stock Exchange) on April 19, 2006.

A) Allocation to Retail Investors

The Basis of Allocation to the retail investors who have bid at cut-off or at issue price of Rs.50/- per Equity Share was finalized in consultation with BSE. The category was over subscribed 81.66 times. The total number of shares allocated in this category is 14,87,500 equity shares. The category-wise details of the basis of allocation areas under:

Category No. of
Applns
% to
Total
Total
shares applied
% of
Total
shares allocated Ratio Total No. of
shares allocated
125 13873 10.14% 1734125 1.43% 125 1:82 21125
250 14651 10.71% 3662750 3.02% 125 1:41 44625
375 6905 5.05% 2589375 2.13% 125 3:82 31500
500 13948 10.19% 6974000 5.74% 125 2:41 85000
625 4229 3.09% 2643125 2.18% 125 3:49 32250
750 5139 3.76% 3854250 3.17% 125 5:68 47125
875 40697 29.75% 35609875 29.31% 125 3:35 436000
1000 7437 5.44% 7437000 6.12% 125 5:51 91125
1125 904 0.66% 1017000 0.84% 125 1:9 12500
1250 1018 0.74% 1272500 1.05%- 125 7:57 15625
1375 226 0.17% 310750 0.26% 125 13:98 3625
1500 843 0.62% 1264500 1.04% 125 5:34 15375
1625 249 0.18% 404625 0.33% 125 9:56 5000
1750 437 0.32% 764750 0.63% 125 17:99 9375
1875 4658 3.40% 8733750 7.19% 125 9:49 106875
2000 21601 15.79% 43202000 35.56% 125 19:97 528875

ADDITIONAL

1 28:79 1500

B) Allocation to Non-Institutional Investors

The Basis of Allocation to the non-institutional investors who have bid at the issue price of Rs.50/- per Equity Share was finalized in consultation with BSE. The category was oversubscribed 215.41 times. The total number of shares allocated in this category is 6,40,566 equity shares(3066 additional equity shares were alloted owing to rounding off to the nearest integer and allotment of minimum bid lot to various categories). A sample of the category-wise details of the basis of allocation are as under:

Category No. of
Applns
% to
Total
Total
shares applied
% of
Total
shares allocated Ratio Total No. of
shares allocated
2250 11 1.70% 24750 0.02% 125 1:11 125
22000 8 1.23% 176000 0.13% 125 7:8 875
40000 12 1.85% 480000 0.35% 186 Firm 2232
50000 21 3.24% 1050000 0.76% 232 Firm 4872
195000 2 0.31% 390000 0.28% 905 Firm 1810
400000 10 1.54% 4000000 2.91% 1857 Firm 18570
4250000 7 1.08% 29750000 21.66% 19730 Firm 138110

C) Allocation to QIBs

Allocation to QIBs have been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual funds were initially allotted. 5% of the QIB Portion (106250 equity shares) and the remaining QIB Portion (20,18,750 equity shares) was allocated to all QIBs including Mutual Funds.

Category Fls/Banks MF's FII's Insurance Co's VC Total
No. of Shares 530179 669748 895544 2684 26845 2125000

D) Allocation to Employees

The Basis of Allocation to Employees who have bid at cut-off or at the issue price of Rs.50/- per Equity Share was finalized in consultation with BSE.

The category was oversubscribed 3.13 times. The total number of shares allocated in this category is 1,00,000. A sample of the category-wise details of the basis of allocation are as under:

Category No. of
Applns
% to
Total
Total
shares applied
% of
Total
shares allocated Ratio Total No. of
shares allocated
875 21 39.62% 18375 5.88% 280 Firm 5880
2125 1 1.89% 2125 0.68% 680 Firm 680
5000 6 11.32% 30000 9.60% 1599 Firm 9594
12000 1 1.89% 12000 3.84% 3839 Firm . 3839
22000 1 1.89% 22000 7.04% 7036 Firm 7036

The Public Issue Committee of the Company at its meeting held at Kolkata on April 20, 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 have been dispatched to the address of the investors as registered withthe 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 successful applicants have been 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 Bombay Stock Exchange Limited, Calcutta Stock Exchange Association Limited and Delhi Stock Exchange Association Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE

The Issue closed on the March 31, 2006 and the last day for allotment of shares and dispatch of refund orders / giving of refund instructions for ECS/RTGS/Direct Credit was April 15, 2006. However, the strike by the employees of the State Bank of India from April 3, 2006 to April 10, 2006 delayed the whole process. Since the delay was due to factors beyond the control of the Company, SEBI granted an exemption to the Company from payment of interest and extended the period up to April 21, 2006 for refunds vide its letter CFD/DIL/PB/AC/64928/2006 dated April 17, 2006.

The details of the allocation made have been hosted on the website of Registrars to the Issue, MCS Limited at www.mcsind.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:

MCS LIMITED
UNIT: TANTIA CONSTRUCTIONS LIMITED,
77/2A, HAZRA ROAD, 3RD & 5TH FLOOR,
KOLKATA - 700 029.
TEL NO.: +91-33-24767350-54,
FAX NO.: +91-33-24541961,
Email : tcl@mcsind.com

 

Place : Kolkata
Date : April 25, 2006

For Tantia Constructions Limited
Sd/
I..P.Tantia
(Chairman & 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 TANTIA CONSTRUCTIONS LIMITED.
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