(Originally incorporated as ITC Zeneca Limited on January 24,1994 as a
public limited company under the Companies Act, 1956. The name of the Company was changed
to Advanta India Limited on September 30,1998).
Registered and Corporate Office: 405,4th Floor, 'A' Wing, Carlton Towers No. 1,
Bangalore - 560 008, India.
Company Secretary and Compliance Officer: Mr. K Suresh
Telephone No.:+918025209941 Fax:+918025207510,
Email: email@example.com, Website: www.advantaindia.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 3,380,000 EQUITY SHARES OF RS.10/- EACH OF ADVANTA INDIA
LIMITED ("ADVANTA INDIA" OR THE "COMPANY") FOR CASH AT A PRICE OF RS.
640 PER EQUITY SHARE INCLUDING A SHARE PREMIUM AGGREGATING RS. 2163.2 MILLION (THE
ISSUE"). THE ISSUE WILL CONSTITUTE 20.08% OF THE POST ISSUE PAID-UP CAPITAL OF THE
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE IS 64 TIMES OF
THE FACE VALUE.
The Issue was made through the 100% book building process wherein at least 60% of the
Issue to the public was to be allocated on a.proportionate basis to Qualified
Institutional Buyer (QIBs), out of which 5% of the QIB portion shall be available
for allocation on a proportionate basis to Mutual Funds only, and the remaining QIB
portion shall be 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, up to 10% of the Issue shall be available for allocation on a
proportionate basis to Non- Institutional Bidders and up to 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.
The Board of Directors of Advanta India Limited wish to thank the investing public for
their response to the Issue which opened for subscription on March 26, 2007 and closed on
March 30, 2007. The Issue received 3571 applications for 11670865 Equity Shares, resulting
in 3.45 times subscription. The details of the subscription (The number of equity shares
bid includes all shares bid at or above the bid price of 640 before technical rejections)
received in the Issue from QIBs, Non-Institutional and Retail categories are as under:
||No. of Applications (Gross)
||No. of Equity Shares bid
|Qualified Institutional Buyers
|Retail Individual Bidders
Undersubscription in the Non-Institutional and Retail categories has been met by
spillover from the QIB category.
A sample of the final demand at different bid prices is as under:
||No. of Equity Shares
||% of Total
||Cumulative Equity Shares
The Basis of Allocation was finalized in consultation with the Designated Stock
Exchange - Bombay Stock Exchange Limited ("BSE") on April 12, 2007.
A) ALLOCATION TO RETAIL INDIVIDUAL BIDDERS
The Basis of Allocation to the Retail Individual Bidders, who have bid at and above the
Issue Price of Rs. 640/- per Equity Share, was finalized in consultation with BSE. The
Company has received 3430 valid applications for 174080 Equity Shares in this category
resulting in 0.17 times subscription. Hence full and firm allotments have been made
against all valid applications. The unsubscribed portion of 839920 equity shares has been
added to Qualified Institutional Buyers category.
B) ALLOCATION TO NON-INSTITUTIONAL BIDDERS
The Basis of Allocation to the Non-Institutional Bidders, who have bid for at and above
the Issue Price of Rs. 640/- per Equity Share, was finalized in consultation with BSE. The
Company has received 15 valid appilications for 15770 Equity Shares in this category
resulting in 0.05 times subscription. Hence full and firm allotments have been made
against all valid applications. The unsubscribed portion of 322230 equity shares has been
added to Qualified Institutional Buyers category.
C) ALLOCATION TO QUALIFIED INSTITUTIONAL BUYERS
All the valid bidders in the QIBs category, who have bid at and above the Issue Price of
Rs.640/- per Equity Share, have been considered while preparing the basis of allotment.
The Company has received 29 valid applications for 11476910 Equity Shares in this category
resulting in 5.66 times subscription. The category-wise details of the Basis of allotment
are as under:
|No.of Equity Shares Allocated
Allocation to Foreign institutional Investors ("FIIs") has been restricted to
24% of the post-Issue paid up capital of the Company in order to comply with the
applicable restrictions on investment by Flls in the Company.
The Board of Directors of the Company vide resolution dated April 13, 2007, has approved
the basis of allocation of Equity Shares and allotted the Equity Shares to various
The Confirmation of Allocation Note ("CAN") and Refund Orders / Direct Credit /
RTGS / ECS intimation in respect of refunds due to applicants have been dispatched to the
address of the investors as registered with the depositories. In case the same is not
received within ten (10) 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 Equity Shares allotted to successful applicants have been
credited to their respective beneficiary accounts subject to validation of the account
details with the depositories concerned. The Listing application has been filed with The
Bombay Stock Exchange Limited ("BSE") and The National Stock Exchange of India
Limited ("NSE") on April 16, 2007. The Company is taking steps to get the Equity
Shares admitted for trading on BSE and NSE within seven (7) working days from the date of
approval of Basis of Allocation.
INVESTORS PLEASE NOTE
These details of allocation made would be hosted on the website of the Registrar to the
Issue, Sharepro Services India Pvt. Limited at www.shareproservices.com
All future correspondence in this regard may kindly be addressed to the Registrar to the
Issue, Sharepro Services India Pvt. Ltd., quoting full name of the First / Sole Applicant,
Serial Number of the Bid cum Application Form, Number of Equity Shares bid for, Name of
the Member of the Syndicate, Place where the bid was submitted and payment details at the
address given below:
Sharepro Services India Pvt Limited,
3rd Floor, Satam Industrial Estate,
Above Bank of Baroda, Cardinal Gracious Road Chakala, Andheri (E), Mumbai - 400 099,
Tel: +91 22 28215168/69, 28508924/30, Fax: +91 22
Contact person: Mr. Ravi Phulpagar
This communication is intended for release solely in India. This communication is not an
offer of securities for sale in any other jurisdiction, including the United States. The
securities may not be offered or sold in the United States absent registration or an
exemption from registration under the US Securities Act of 1933.
Date: April 18, 2007
For Advanta India Limited
V R Kaundinya
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER
THE MARKET PRICE OFTHE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF ADVANTA INDIA