|Basis of Allotment|
Gujarat State Petronet Limited
(Incorporated on December 23, 1998 under the Companies Act, 1956) Registered Office: GSPC Bhavan, Sector 11, Gandhinagar, Gujarat 382 011. Tel:+91-79-55701604, Fax:+91-79-2323 6477. Website: www.gujpetronet.com
BASIS OF ALLOCATION
PUBLIC ISSUE OF 138,000,000 EQUITY SHARES QF.RS.10/- EACH FOR CASH AT A PRICE OF RS. 27/-PER EQUITY SHARE AGGREGATING RS.372.60 CRORES (REFERRED TO AS "THE ISSUE"). THE ISSUE WOULD CONSTITUTE 25.45% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY
THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH FOR CASH AT A PRICE OF RS.27/- EACH AND THE ISSUE PRICE IS 2.7 TIMES OF THE FACE VALUE.
The Issue made through the 100% Book Building Process where up to 50% of the net issue to the public shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that shall to specifically be allotted to mutual funds). Further, not less than 15% of the net issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the net issue to the public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 741654 applications for 6680329820 equity shares resulting in 48.40 times subscription. The company has made the allocation of equity shares as under:
The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under (Before technical rejections):
The final demand at different bid prices is as under:
The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited ("NSE") on 9th February, 2006.
A. Allocation to Retail Investors
The company has allocated 60%f the Issue to Retail Investors. The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.27/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 12.13 times. The total number of shares allotted in this category 82800000 Equity Shares. The category-wise details of the Basis of Allocation are as under:
B. Allocation to Non Institutional Investors
The company has allocated 15% of the issue to Non-Institutional Bidders. The Basis of Allocation to the Non institutional Bidders, who have bid at and above the Issue Price of Rs.27/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 82.10 times. The total number of shares allotted in this category is 20700000 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:
D. Allocation to QIBs
The company has allocated 25% of the Issue to QIBs, (5% of which would be reserved for mutual funds). Allocation to QIBs have been done on a proportionate basis in consultation with the NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (1725000) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (32775000) on proportionate basis. The sectoral cap and other limits applicable to the holding of shares in company have been taken into account while allotting shares. Mutual Funds were allotted 21.49% for QIB segment and other QIB applicants were allotted 78.51% of the shares for QIB segment.
The Committee of Directors of the company at its Meeting held at Gandhlnagar on 10th February, 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 has been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, Investors may contact at the address given below. The Refund Orders have been overprinted with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants are being 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at www,karvy.com or http://kcpl.karvy.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:
TOLL FREE- HELPLINE NUMBER 1-600-3454001
|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 GUJARAT STATE PETRONET LIMITED.|