|Basis of Allotment|
IDEA CELLULAR LIMITED
(Incorporated as Birla Communications Limited on March 14,1995 under the
Companies Act, 1956 and granted a certificate of commencement of business dated August
11,1995. The name of the Company was subsequently changed to Birla AT&T Communications
Limited pursuant to a fresh certificate of incorporation dated May 30, 1996. The name was
subsequently changed to Birla Tata AT&T Limited pursuant to a fresh certificate of
incorporation dated November 6, 2001. The name of the Company was further changed to idea
Cellular Limited pursuant to a fresh certificate of incorporation dated May 1, 2002.)
Pursuant to a certificate of registration dated October 22,1996 our registered office was
transferred from Mumbai to Gandhinagar. (For further details see "Our History and
Corporate Structure" on page 137 of the Prospectus).
BASIS OF ALLOTMENT
Public Issue of 283,333,333 Equity Shares of Rs. 10 each for cash at a price of Rs. 75
aggregating Rs. 21,250 million (hereinafter referred to as the "Issue"). There
Is a reservation of 6,666,666 Equity Shares of Rs. 10 each aggregating Rs. 500 million for
the eligible employees of the Company ("Employee Reservation Portion"). The not
Issue to the public of 276,686,667 Equity Shares of Rs. 10 aggregating Rs. 20,750 million
(hereinafter referred to as the "Net Issue"). There shall also be a green
shoe option for allocating up to 42,500,000 Equity Shares of Rs. 10 each not exceeding Rs.
3,187.50 million, In excess of the Equity Shares that are Included In the Issue. The Issue
with the green shoe option aggregates Rs. 24,437.50 million.
In terms of Rule 19(2)(b) of the Securities Contracts Regulation Rules, 1957, as amended from time to time ("SCRR"), with respect to the issue being less than 25% of post issue capital, the issue is made through the 100% Book Building Process wherein at least 60% of the Net Issue to the public shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 10% of the Net Issue to the public shall be available for allocation on a proportionate basis to non Institutional bidders and not less than 30% of the Net Issue to the public shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid Bids being received at or above the issue Price. Further, 6,666,666 Equity Shares shall be available for allocation on a proportionate basis to eligible employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 626,317 applications for 16,148,777,088 Equity Shares resulting in 49.56 times subscription (including the green shoe). The details of the applications received (before technical rejections) In the Issue from QIBs, non institutional bidders, retail individual bidders and eligible employees are as under:
The Basis of Allocation was finalized In consultation with the National Stock Exchange ("NSE") on Friday, March 02, 2007. The IPO Committee of the Company at its meeting held on Friday, March 02, 2007 approved the Basis of Allocation of Equity Shares in the Issue and allotted the Equity Shares to various successful applicants.
A) Allocation to Non Institutional Bidders
B) Allocation to Retail Individual Bidders:
C) Allocation to Eligible Employees
D) Allocation to Qualified Institutional Buyers:
The Refund Orders /Allotment Intimations due to applicants have been dispatched to the
address of the investors as registered with the depositories on Friday, March 2, 2007. in
case the same is not received within ten days, investors may contact the address given
below. The Refund Orders have been over printed with the bank mandate details as
registered, if any, with the depositories. The Equity Shares allotted to successful
applicants have been credited to their beneficiary accounts subject to validation of the
account details with the depositories concerned. The listing applications were filed with
the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited
(together the "Stock Exchanges") on Tuesday, March 6, 2007 and the Company is
taking steps to get the Equity Shares admitted for trading on the Stock Exchanges within
seven working days from the data of approval of the Basis of Allocation.
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF IDEA CELLULAR LIMITED.