IL&FS INVESTMART LIMITED
(The Company was incorporated as Investmart India on September 1, 1997 under the
Companies Act, 1956 and abtained Certificate of Commencement of Business on October 7,
1997. The Company was changed to IL&FS Investmart Limited on March 25, 2003).
Registered Office: The IL&FS Financial Centre, Plot
C-22, G Block Bandra (E), Mumbai 400051.
Tel: +91-22-2653 3333; Fax:: +91-22-2653 3075 E-mail: iil.ipo@investmartindia.com Website: www.investmartindia.com
BASIS OF ALLOCATION
PUBLIC OFFER OF 11,400,000 EQUITY SHARES COMPRISING FRESH ISSUE OF
8,800,000 EQUITY SHARES OF THE FACE VALUE OF RS.10 EACH AT A PRICE OF RS. 125 PER EQUITY
SHARE INCLUDING A PREMIUM OF RS.115, FOR CASH AGGREGATING RS.11,000 LAKH AND AN OFFER FOR
SALE OF 2,600,000 EQUITY SHARES OF THE FACE VALUE OF RS.10 EACH AT A PRICE OF RS.125 FOR
CASH AGGREGATING RS. 3250 LAKH (COLLETIVELY REFERED TO AS THE "OFFER") INCLUDING
EMPLOYEE RESERVATION OF 11,40,000 EQUITY SHARES OF THE FACE VALUE OF RS.10 EACH AT THE
PRICE OF RS.125 FOR CASH AGGREGATING RS. 1425 LAKH AND THE NET OFFER TO THE PUBLIC OF
10,260,000 EQUITY SHARES OF THE FACE VALUE OF RS.10 EACH AT THE PRICE OF RS. 125 FOR CASH
AGGREGATING RS. 12825 LAKH (HEREIN REFERED TO AS "NET OFFER").
THE NET OFFER TO THE PUBLIC CONSTITUTE 23.42% OF THE POST OFFER PAID-UP CAPITAL OF
IL&FS INVESTMART LIMITED ("ISSUER OR "THE COMPANY").
OFFER PRICE OF RS. 125 PER EQUITY SHARES OF THE FACE VALUE OF RS. 10 EACH. OFFER PRICE IS
12.5 TIMES OF THE FACE VALUE
The Net Offer was made through the 100% Book Building Process wherein 60% of
the Net Offer to the Public was allocated on a discretionary basis to Qualified
Institutional Buyers, not less than 10% of the Net Offer to the public was allocated on
proportionate basis to Non-Institutional Bidders and not less than 30% of the Net
Offer to Public was allocated to Retail Bidders on Proportionate basis, subject to valid
bids being received at or above the Issue Price.
The Issue received 157839 applications for 381848721 equity shares resulting in 33.49
times subscriptin. The details of the application received in the Issue from Retail, Non
Institutional, Employees and Qualified Institutional Investors categories are as
under:
Category
|
No. of
Applications |
No. of
Shares |
Subscription |
Qualified Institutional Buyers |
180 |
218997550 |
35.57 times |
Non Institutional Investors |
812 |
108352000 |
105.60 times |
Retail Investors |
156157 |
52027621 |
16.90 times |
Employees |
690 |
2471550 |
2.16 times |
Final Demand
A sample of the final demand at different bid prices is as under:
Bid Price |
No.of Shares |
% to Total |
Cumulative Total |
Cumulative % to total |
110 |
562300 |
0.146 |
386275750 |
100.000 |
111 |
12800 |
0.003 |
385713450 |
99.854 |
112 |
650 |
0.000 |
385700650 |
99.851 |
113 |
250 |
0.000 |
385700000 |
99.851 |
114 |
100 |
0.000 |
385699750 |
99.851 |
115 |
493050 |
0.128 |
385699650 |
99.851 |
116 |
350 |
0.000 |
385206600 |
99.723 |
117 |
14000 |
0.004 |
385206250 |
99.723 |
118 |
6500 |
0.002 |
385192250 |
99.720 |
119 |
50 |
0.000 |
385185750 |
99.718 |
120 |
627850 |
0.163 |
385185700 |
99.718 |
121 |
150 |
0.000 |
384557850 |
99.555 |
122 |
650 |
0.000 |
384557700 |
99.555 |
123 |
600 |
0.000 |
384557050 |
99.555 |
124 |
9850 |
0.003 |
384556450 |
99.555 |
125 & at cut off |
384546600 |
99.552 |
384546600 |
99.552 |
|
386275750 |
100.000 |
|
|
The Basis of Allotment was finalized in consultation with The National Stock Exchange
of India ("NSE") on July 20, 2005.
A) Allocatin to Employees
The Basis of Allocation to the employees of IL&Fs Invesmart Limited, who have bid at
cut-off or at the Issue Price of Rs.125/- per Equity Share, was finalized with NSE. The
category was over subscribed 2.16 times. The total number of shares allotted in this
category is 1140000 Equity Shares. The allotment was firm for all valid bids. The sample
of category-wise details of the Basis of Allocation are as under:
Category |
No. Of Appins. |
% to
total |
Total No.of
Shares
applied |
%to
total |
No. of
Shares
allocated |
Ratio |
Total No.
of Shares
allocated- |
50 |
1 |
14 |
50 |
0.00 |
50 |
FIRM |
50 |
100 |
2 |
0.29 |
200 |
0.01 |
50 |
FIRM |
100 |
150 |
1 |
0.14 |
150 |
0.01 |
69 |
FIRM |
69 |
15000 |
2 |
0.29 |
30000 |
1.21 |
6919 |
FIRM |
13838 |
20000 |
18 |
2.61 |
360000 |
14.57 |
9225 |
FIRM |
166050 |
30450 |
1 |
0.14 |
30450 |
1.23 |
14030 |
FIRM |
14030 |
B. Allocation 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.125/- per Equity Share, was finalized in consultation with NSE. The
category was over subscribed 16:40 times. The total number of shares allotted in this
category is 3078000 Equity Shares. The sample of category-wise details of the Basis of
Allocation are as under:
| Category |
No. Of
Applns. |
% to
total |
Total No.of
Shares
applied |
% to
total |
No. of
Shares
allocated |
Ratio |
Total No.
of
Shares
allocated |
| 50 |
11767 |
7.76 |
589350 |
1.17 |
50 |
3:49 |
36000 |
| 100 |
16300 |
10.75 |
1630000 |
3.23 |
50 |
6:49 |
99800 |
| 150 |
5439 |
3.59 |
815850 |
1.62 |
50 |
9:49 |
49950 |
| 200 |
12342 |
8.14 |
2468400 |
4.89 |
50 |
12:49 |
151150 |
| 750 |
1360 |
0.90 |
1020000 |
2.02 |
50 |
11:12 |
62350 |
| 800 |
15347 |
10.12 |
12277600 |
24.32 |
50 |
35:36 |
746050 |
C. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at cut-off or at
and above the issue Price of Rs.125/- per Equity Share, was finalized in consultation with
NSE. The category was subscribed 105.37 times total number of shares alloted in this
category is 1026000 Equity Shares. The sample at category-wise of the Basis of Allotment
are as under:
| Category |
No. Of
Appins. |
% to
total |
Total No.of
Shares
applied |
% to
total |
No. of
Shares
allocated |
Ratio |
Total No.
of Shares
allocated |
| 850 |
10 |
1.28 |
8500 |
0.01 |
50 |
1:05 |
100 |
| 900 |
5 |
0.64 |
4500 |
0.00 |
50 |
1:05 |
50 |
| 1000 |
59 |
7.54 |
59000 |
0.05 |
50 |
1:05 |
600 |
| 2400000 |
2 |
0.26 |
4800000 |
4.44 |
22776 |
FIRM |
45552 |
| 9200000 |
1 |
0.13 |
9200000 |
8.51 |
87307 |
FIRM |
87307 |
| 1102600001 |
3 |
0.38 |
130780000 |
128.47 |
197366 |
1 FIRM |
1292098 |
D. Allocation to QIBs
| Category |
Fls/Bank |
MFs |
FLLs |
Insurance Companies |
Total |
| No.of Shares |
464100 |
2451200 |
3239800 |
900 |
6156000 |
The Committee of Directors for IPO of the Company at it's meeting held at Hyderabad on
21st July, 2005 has approved the basis of allocation of shares and allotted the shares to
various successful applicants.
The Refund Orders will be dispatched to the address of the investors as registered with
the depositories by 22nd July, 2005. In case the same is not received within ten days,
investors may contact at the adress 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 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 the Stock Exchange, Mumbai within seven working days
from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of
Registratrs 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:
Karvy Computershare Private Limited
Unit: Investsmart, Karvy House,
46, Avenue 4, Street No.1, Banjara Hills, Hyderabad - 500034, Fax: 040-23311968
Email: iil.ipo@karvy.com or mailmanager@karvy.com
TOLL FREE - HELPLINE NUMBERS
1-600-3454001
Place : Mumbai
Date : July 21, 2005 |
For IL & FS Investsmart Limited
Sd/-
Shekhar Deshpande
Company Secretary & Head-Legal |
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 IL & FS INVESTSMART
LIMITED. |