|Basis of Allotment|
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
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:
The final demand at different bid prices is as under
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:
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:
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.
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:
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:
|Place : Kolkata
Date : April 25, 2006
For Tantia Constructions Limited
(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.|