|Basis of Allotment|
|This is only an advertisement for
information purpose not for publication or distribution, directly or indirectly outside
India, and not a prospectus announcement
Ashoka Buildcon Limited
(The Company was incorporated as Ashoka Buildcon Private Limited on May 13,1993. under the Companies Act; 1956, The word "private" was deleted on April 22, 2002 and the Company was converted into a public limited company. For details of changes in the name and registered office of the Company, please refer to "History and Certain Corporate Matters" on page 137 of the Prospectus). Registered Office: Survey No. 861, Ashoka House, Ashoka Marg,, Vadala, Nashik, Maharashtra - 422011.. Tel: (91253) 3011705; Fax: (91253) 2422704; Contact Person: Manoj A. Kulkarni, Company Secretary and Compliance Officer; Website: www.ashokabuildcon.com; Email: email@example.com
BASIS OF ALLOTMENT
PROMOTERS OF THE COMPANY: ASHOK M. KATARIYA, SATISH D. PARAKH, ASHISH A. KATARIYA AND ADfTYA S. PARAKH. PUBLIC ISSUE OF 6,944,444 EQUITY SHARES OF Rs. 10 EACH OF ASHOKA BUILDCON LIMITED ("ABL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH ATA PRICE OF Rs. 324 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 314 PER EQUITY SHARE) AGGREGATING Rs. 2,250 MILLION (THE "ISSUE"). THE ISSUE INCLUDES A RESERVATION OF UP TO 34,722 EQUITY SHARES OF Rs. 10 EACH FOR THE ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 13.2% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY ANDTHE NET ISSUE WILL CONSTITUTE 13.1% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS Rs. 10/-. THE ISSUE PRICE PER EQUITY SHARE IS Rs. 324 AND IT IS 32.4 TIMES THE FACE VALUE.
The Company is undertaking the issue in accordance with the first proviso to Rule l9(2)(b)(ii) of the Securities Contracts Regulations Rules, 1957, as amended ("SCRR"). This issue is being made through the 100% Book Building Process Wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional , Buyers (QIB) Bidders. 594 of the QIB Portion (excluding Anchor Investor Portion) shall be available for Allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less then 10% of the Net Issue shall be available for Allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue shall be available for Allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. If at least 60% of the Net Issue cannot be allocated to QIBs, then the entire application money shall be refunded forthwith. Further, up to 34,722 Equity Shares shall be available for Allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue Price. Potential investors may participate in this Issue through an Application Supported by Blocked Amount providing details about the bank account which will be blocked by the Self Certified Syndicate Bank for the same. For details see section entitled 'Issue Procedure' on page 414 of this Prospectus.
The Company has allocated 1,243,750 Equity Shares of the QIB Portion to Anchor Investors on a discretionary basis at Rs.324 in accordance with the SEBI Regulations.
The Issue received 46,419 applications for 101,767,386 Equity Shares resulting in 14.6545 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors, Anchor Investors and Employee categories are as under: (Before technical rejections)
TThe final demand at different bid prices is as under:
The Basis of Allocation was finalized in consultation with the Bombay
Stock Exchange Limited ("BSE") on
A. Allocation to Ellgibile Employees (After Technical Rejections) (Including ASBA Applications)
The Basis of Allocation to the Eligible Employees who have bid at cut-off or at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been oversubscribed to the extent of 1.3536 times. The total number of shares allotted in Employee Reservation Portion is 34,722 Equity Shares to 234 successful Eligible Employees. The category-wise details of the Basis of Allotment are as under:
B. Allocation to Retail Individual Investors (After Technical Rejections) (Including ASBA Applications)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 3.6237 times. The total number of shares allotted in Retail individual Investor category is 2,072,916 Equity Shares to 35,380 successful applicants. The category-wise details of the Basis of Allotment are as under:
C. Allocation to Non Institutional Investors (After Technical Rejections) (Including ASBA Applications)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 324 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 14.8006 times The total number of Equity Shares allotted in this category is 690,972 Equity Shares to 136 successful applicants. The category-wise details of the Basis of Allotment are (Sample) under:
D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations. Mutual Funds were Initially allocated 5% of the quantum of shares available (145,104 Equity Shares) and other QIBs were allocated the remaining available shares (2,756,980 Equity Shares) on proportionate basis was allocated to other QIBs on proportionate basis.
E. Allocation to Anchor Investors
Allocation to Anchor Investors has been done in consultation with BRLMs and Co-BRLM as per the SEBI regulations, 30% of QIB Portion (1,243,750 Equity Shares) was basis of Allotted to Anchor Investors.
The IPO Committee of the company at its Meeting held on October 13,2010 at Mumbai has taken on record the Basis of Allotment of shares approved by the Designated Stock Exchange, being the BSE, of the Issue and has authorized the corporate action for the transfer of the Equity Shares to various successful Bidders.
The CAN-cum-Refund Orders and Allotment advice and/ or notices have 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 over-printed with the Bank Account details as registered, if any, with the Depositories. The Equity Shares allocated to successful Bidders are being credited to their beneficiary accounts subject to validation of the account details with the Depositories concerned. The Equity Shares of the Company will be available for trading on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited with effect from October 14,2010.
Corrigendum: In paragraph 1 in the section entitled "Issue Structure" on page 409 of the Prospectus, the second sentence should be read as "The Issue comprises a Net Issue of Rs. 2,238,750,000 to the public and a reservation for eligible employees of up to Rs. 11,250,000." In the first row of the table in the section entitled "Issue Structure" on page 409 of the Prospectus, the numbers in second, third and fourth columns should be read as 4,145,834 Equity Shares, 690,971 Equity Shares and 2,072,917 Equity Shares respectively.
INVESTORS PLEASE NOTE
This details of the Allocation made would be hosted on the website of Registrars to the
Offer, Link Intime India
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:
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARE ON LISTING ORTHE BUSINESS PROSPECTS OF ASHOKA BUILDCON LIMITED