T.V. Today Network Limited
Regd. Off.: Videocon Tower, E-1, Jhandewalan Extension, New
Delhi, 110055.
Tel.: (91-11) 2368 4888, Fax: (91-11) 2368 4895
Website: www.aajtak.com, E-mail: tvtodayipo@aajtak.com
Public Issue of 14,500,000 Equity Shares comprising fresh issue of 10,000,000
Equity shares of Rs. 5 each at a price of Rs. 95 for cash aggregating Rs. 950 million and
offer for sale of 4,500,000 Equity Shares of Rs. 5 each at a price of Rs. 95 for cash
aggregating Rs. 427.50 million
The offer was made through 100% Book Building Process wherein 45% of the Offer was
allotted on a discretionary basis to Qualified Institutional Buyers. Further 25% of the
Offer was allotted on a proportionate basis to Non Institutional Bidders and the remaining
30% of the Offer was allotted on a proportionate basis to Retail individual Bidders.
Basis of Allotment
The Company has received 339,365 valid bids for 513,142,800 Equity Shares
at the Offer Price resulting in 35.38 times subscription. The demand at the Offer
Price (considering highest value bid in case of various bid options) from QIBs, Non
Institutional and Retail Individual Bidders categories is as under:
| Category |
No. of Valid bids |
No. of Shares Bid |
Subscription (times)* |
| Non Institutional Investors |
11065 |
309132000 |
85.27 |
| Retail Investors |
328158 |
106961900 |
24.59 |
| QIBs |
142 |
97048900 |
14.87 |
* The level of subscription should not be taken to be indicative of
either the market price of the Equity Share of listing or the business prospects of the
company.
Final Demand
The final demand at different bid prices is as under:
| Bid Price |
No. of Shares |
% to Total Demand |
Cumulative Total |
Cum. Demand% |
| At "Cut off" |
104007400 |
19.19 |
104007400 |
19.19 |
| 95 |
421726500 |
77.79 |
525733900 |
96.98 |
| 94 |
257600 |
0.05 |
525991500 |
97.03 |
| 93 |
1345900 |
0.25 |
527337400 |
97.28 |
| 92 |
1249100 |
0.23 |
528586500 |
97.51 |
| 91 |
72500 |
0.01 |
528659000 |
97.52 |
| 90 |
8177200 |
1.51 |
536836200 |
99.03 |
| 89 |
76800 |
0.01 |
536913000 |
99.04 |
| 88 |
143500 |
0.03 |
53756500 |
99.07 |
| 87 |
45000 |
0.01 |
537101500 |
99.08 |
| 86 |
36400 |
0.01 |
537137900 |
99.08 |
| 85 |
1317500 |
0.24 |
538455400 |
99.33 |
| 84 |
19900 |
0.00 |
538475300 |
99.33 |
| 83 |
36600 |
0.01 |
53851900 |
99.34 |
| 82 |
112300 |
0.02 |
538624200 |
99.36 |
| 81 |
15600 |
0.00 |
538639800 |
99.36 |
| 80 |
3466500 |
0.64 |
542106300 |
100.00 |
Note: cumulative number of applications and Equity Shares gives the total
after removing various bid options.
A) Allotment to Non-Instutitional Bidders:
The basis of Allotment to the Non-Institituinal Bidders who have bid for
at or above the Offer Price of Rs. 95 per Equity Share, was finalised in consultation with
the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest 100
Equity Shares. The total number of shares allotted in this category is 3,625,000. A
sample to category-wise details of the basis of Allotment is as under:
| Category |
No. of Application |
% of Tot. Applications |
No. of shares applied |
No. shares alloted |
Ratio |
Total Shares allotted |
| 600 |
1243 |
11.23 |
745800 |
100 |
7:99 |
8700 |
| 1000 |
4131 |
37.33 |
4131000 |
100 |
11:94 |
48300 |
| 2500 |
148 |
1.34 |
370000 |
100 |
25:86 |
4300 |
| 5000 |
320 |
2.89 |
1600000 |
100 |
47:80 |
18800 |
| 10000 |
184 |
1.66 |
1840000 |
100 |
firm |
18400 |
| 50000 |
213 |
1.92 |
10650000 |
600 |
firm |
127800 |
| 100000 |
160 |
1.45 |
16000000 |
1200 |
firm |
192000 |
| 1000000 |
10 |
0.09 |
10000000 |
11700 |
firm |
117000 |
| 5500000 |
1 |
0.01 |
5500000 |
64500 |
firm |
64500 |
| 6842000 |
1 |
0.01 |
6842000 |
80200 |
firm |
80200 |
B) Allotment to Retail Individual Biders:
The basis of Allotment to the Bidders who have bid for at or above the
Offer Price of Rs 95 per Equity Share, was finalised in consultation with the Stock
Exchange, mumbai, on a proportionate basis after rounding off to the nearest 100 shares.
The total number of shares allotted in this category is 4,349,500. The
category-wise details of the Basis of Allotment is as under:
| Category |
No. of Application |
% of Tot. Applications |
No. of shares applied |
No. shares alloted |
Ratio |
Total Shares allotted |
| 100 |
84722 |
25.82 |
8472200 |
100 |
3:74 |
343400 |
| 200 |
56161 |
17.11 |
11232200 |
100 |
7:86 |
457100 |
| 300 |
25188 |
7.68 |
7556400 |
100 |
5:41 |
307100 |
| 400 |
13424 |
1.09 |
5369600 |
100 |
7:43 |
218500 |
| 500 |
148663 |
45.30 |
74331500 |
100 |
12:59 |
3023400 |
C) Allotment to QIB Bidders
| Category |
FI/Banks |
MF/VC |
Insurance Co |
Total |
| No. of shares allotted |
334000 |
5658500 |
533000 |
6525500 |
Despatch of refund orders and electronic credit of shares has been
completed on January 10, 2004.
The listing applications have been filed with BSe and NSe on January 12, 2004.
Place : Mumbai
Date : January 13, 2004 |
For T.V. Today Network Limited
Sd/-
Company Secretary |
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