|Basis of Allotment|
SOLAR EXPLOSIVES LIMITED
(Incorporated on February 24, 1995 under the Companies Act, 1956 as a limited liability company. The registered office of our company was changed from Dhakate Building, Fawara Chowk Gandhi Bagh, Nagpur- 440 002, to its current address 11, Zade Layout, Bharat Nagar, Nagpur-440 033 with effect from June 10, 2004)
Registered and Corporate Office: 11, Zade Layout, Bharat Nagar, Nagpur- 440 033, Maharashtra, India, Tel: (+91712) 256 1000 Fax: (+91712) 256 0202; e mail:email@example.com Website: www.solarexplosives.com Compliance Officer: Mr. Nilesh Panpaliya, e mail:firstname.lastname@example.org
BASIS OF ALLOCATION
Public Issue of 44,00,000 Equity Shares of Rs.10/-each for cash at a price of Rs.190
per Equity Share aggregating to
The Issue was made through the 100% Book Building process wherein up to 50% of the Issue was allocated to Qualified Institutional Buyers ("QIBs") on a proportionate basis. Out of the portion available for allocation to the QIBs, 5% was available for allocation to Mutual Funds. Mutual Fund applicants were also eligible for proportionate allocation under the balance available for the QIBs. Further, not less than 15% of the Issue was available for allocation on a proportionate basis to Non- Institutional Bidders and not less than 35% of the Issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 45267 applications for 61119530 equity shares resulting in 13.89 times oversubscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Investor categories are as under:
A sample of the final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with Bombay Stock Exchange Limited ("BSE") on the 24th March, 2006
A. 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.190/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 6.38413 times. The total number of shares allotted in this category is 1519007 Equity Shares. The categorywise details of the Basis of Allocation are as under:
B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non Institutional bidders, who have bid at and above the Issue Price of Rs.190/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 11.09447 times. The total number of shares allotted in this category is 650993 Equity Shares. The category-wise details of the Basis of Allocation are as under:
C.Allocation to QIBs
D. Allocation to Employees
All employee application received firm allotment
The Committee of Directors for IPO of the company at it's meeting held at Bombay on 25th March, 2006 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. In case the same is not received within ten days, Investors may contact at the address given below. The Refund Orders will be 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
The details of the allocation made would also be hosted on the website of Registrar to the Issue, INTIME SPECTRUM REGISTRY LIMITED at www.intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicant, Serial number of the bid-cum-application form, no. of shares bid for, name of the member of the syndicate and place where the bid was submitted and the payment details at the address given below.
INTIME SPECTRUM REGISTRY LIMITED
|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 SOLAR EXPLOSIVES LIMITED.|