|Basis of Allotment|
Indiabulls Financial Services Limited
Registered Office: F - 60, IInd Floor, Malhotra Building, Connaught
Place, New Delhi - 110 001
BASIS OF ALLOTMENT
Public Issue of 2,71,87,519 Equity Shares of Rs.2 each of Indiabulls Financial Services Limited ("The Company") at a price of Rs.19 in cash aggregating Rs.516.56 million (hereinafter referred to as the "Issue'). The Face Value of the Equity Shares is Rs.2 each and the Issue price is 9.5 times the Face Value. The Issue constitutes 25% dilution of the post issue paid-up capital of the Company. The Book Running Lead Managers to the issue are DSP Merill Lynch Limited and SBI Capital Markets Limited. The Equity Shares have been listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Limited and trading is scheduled to start today 24th September, 2004.
The issue was made through a 100% book building scheme wherein upto 50% of the issue or 1,35,93,759 equity shares was to be available for allotment on a discretionary basis to Qualified Institutional Buyers. Further, not less 25% of the issue or 67,96,880 equity shares was to be available for allotment on a proportionate basis to Non-Institutional Bidders and not less than 25% of the issue 67,96,880 equity shares was to be available for allotment on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price.
A summary of the Final demand at various price levels as per the electronic book is given below
The Company has received 1,30,318 valid bids for 49,04,69,845 equity shares resulting in 18.04 times, subscription. The valid demand (considering highest value bid in case of multiple bids) from Retail, Non Institutional categories is as under:
The Basis of Allotment to the Non Institutional Bidders who bid at the Issue Price of Rs.19 per Equity Share, was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest one share, subject to a minimum allotment of 365 equity share. The total number of shares allotted in this category is 67,96,000. A sample of the category-wise details and the Basis of Allotment is under.
The Basis of Allotment to the Retail Individual Bidders who bid at cut off or at the Issue Price of Rs.19 per Equity Shares, was finalised in consultation with the Stock Exchange, Mumbai, on a proportionate basis after rounding off to the nearest one share, subject to minimum allotment of 365 equity shares. The total number of shares alloted in this category is 67,97,760. The category-wise details and the Basis of Allotment is under:
The Board of Director of Indiabulls Financial Services Limited at its meeting held in Hyderabad on September 22, 2004, has approved the basis of allotment of shares as above and allotted the shares to the successful applicants. The Refund Orders have already have been dispatched on Thursday, September 23, 2004 to the addresses of the investors as registered with the depositories.The Refund Orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The shares allotted to the successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concered. Indiabulls Financial Services Limited has received listing and trading approval from 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 allotment.
Allotment details have been hosted on the Registrar's website with the following URL http://www.karvy.com. All correspondences with reference to this issue should be addressed to the Registrars to the offer quoting full name of the First/Sole applicant, Serial number of the bid-cum application form, number of shares bid for, name of the Syndicate Member and Place where the bid was submitted and payment details at the following address:
Karvy Consultants Ltd. Unit-Indiabulls Public Offer, Karvy House, 46 Avenue 4, Street No.1 Banjara Hills, Hyderabad 500 034. Tel. +91 40 2331 2454/2332 0751/53, Fax: +91 40 2331 1968/2332 3049, Email: email@example.com
For Indiabulls Financial Services Limited