|Basis of Allotment|
(Originally incorporated as Shiva Textilies(CBT) Limited on July 10, 1989 under the Companies Act, 1956 and was issued certificate for commencement of Business on September 14, 1989. The named of the Company was changed to "Bannari Amman spinning Mills Ltd." On October11,1991. The registration number of the company is 181-002476)
252, Mettupalayam Road, Coimbatore 641 043. Tel.:+91-422-243
5555 Fax : +91-422-243 0233
BASIS OF ALLOCATION
PUBLIC ISSUE OF 7,003,019 EQUITY SHARES OF FACE VALUE RS.10/- EACH AT A PRICE OF RS. 135 FOR CASH AT A PREMIUM AGGREGATING TO RS. 945.41 MILLION (HERE IN AFTER REFERRED TO AS THE "ISSUE"). THE ISSUE WOULD CONSTITUE 44.45% OF THE POST ISSUE PAID-UP CAPITAL OF BANNARI AMMAN SPINNING MILLS LIMITED.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 AND THE PRICE IS 13.5 TIMES OF THE FACE VALUE.
The issue was made through a 100% Book Building Process wherein upto 50% of the issue was to be allocated on a discretionary basis to qualified institutional Buyers, not less than 15% of the issue was to be allocated to Non-institutional investors and not less than 35% of the issue was to be allocated to Retail individual Investors on a proportionate basis, subject to valid bids being received at or above the issue price.
BASML received 82187 bids for 46350065 equity Shares resulting in 6.6214 times subscription. The details of the application received in the issue from Retail, Non-institutional and Qualified Institutional categories is as under(before technical/multiple rejections):
*Including bids received at cut off price** After eliminating cheque returns but before elimnating technical/multiple rejections.
A Sample of the final demand at different prices is as under:
The Basis of Allotment was finalised in consultation with National Stock Exchange of india Limited ("NSE") on November8, 2005.
A) Allocation Retail individual Bidders
The Basiss of Allocation to the Retail Individual Bidders, who have bid at cut-off or at issue price of Rs,135/- per Equity Shares, was finalized in consultation with NSe.The category was overscribed 9,74380 times. The total number of shares allotted in this category-wise details of the Basis of Allocation are as under:
B) Allocation to Non Institution Bidders
The Basis of Allocation to the Non Insititutional Investors, who have bid for at or above Issue Price of Rs, 135/- per Equity Share, was finalized in consultation with NSE. The category was oversubscribed 6,69000yimes. The total number of Shares allotted in this category is 1050000 Equity Sahres. A Sample of Category-wise details of the Basis of Allocation are as under.
c) Allocation to Qualified Institutional Bidders:
The Boared Of Directors of Bannari Amman Spinning Mills Limited at its Meeting held at Coimbatore on November 8, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.
The despatch of Refund Orders has been completed by November 9,2005 to the address 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 depositores. The shares alocated to the successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company has submitted the listing application on November10,2005 abd is taking steps to get the Equity Sahres admitted for trading on the Bombay Stock Exchange Limited and on the National Stock Exchange of india Ltd with in seven working days from the date of approval of the basis of allocation.
INVESTORS PLESE NOTE
The details of the allocation made has been hoted on the website of registrars to the issue, Intime Spectrum Registry Limited at www.Intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registeres to the issue quoting full name of the First/Sole applicant, Serial number of the bid-cum-applicationform, numberof shares bid for, name of the member of the syndicate and place where the bid was submitted and payment details at the addresss given below:
Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, Kantial Maganlal Industrial Estate,
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 BANNARI AMMAN SPINNING MILLS LIMITED.