|Basis of Allotment|
(Incorporated on September 7, 1994 under the Companies Act, 1956 as Educomp Datamatics Pvt.Ltd. Converted into Educomp Datamatics Limited on September 18, 2000 and Received fresh Certificate of Incorporation consequent to change of name to Educomp Solutions Limited on August 22, 2005)
BASIS OF ALLOCATION
PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF FACE VALUE RS. 10/- EACH FOR CASH AT A PRICE OF RS.125/AGGREGATING TO RS. 5000 Lakhs (HEREINAFTER REFERRED TO AS THE "ISSUE"). THE ISSUE WOULD CONSTITUTE 25.06% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 AND THE ISSUE PRICE IS 12.5 TIMES OF THE FACT: VALUE.
The Board of Directors of Educomp Solutions Limited, wish to thank the investing public for their response to the issue which opened on 19th December, 2005.
The Issue was made through a 100% Book Building process wherein upto 50% of the net Issue was to be allocated on a basis to Qualified Institutional Bidders (QIBs). Further, not less than 15% of the Net issue was made available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Issue was made 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 96610 applications for 135399577 equity shares resulting in 33.8499 times subscription. The details of the application received in the Issue from Retail Individual Bidders, Non Institutional Investors and Qualified Institutional Buyers categories is as under:
A sample of the final demand at different bid prices Is as under
Book Analysis as of 22-12-2005
A) Allocation to Retail Individual Bidders
The Basis of Allocation to the Non Institutional Investors, who have bid for at Issue Price of Rs. 125/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 81.4806 times. The total number of shares allotted in this category is 600000 Equity shares. A sample of category-wise details of the Basis of Allocation are as under
The Board of Directors of Educomp Solutions Limited at its Meeting held at Gaja Capital Partners, Mumbai on 6'" January 2006 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 January 06, 2006 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 printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated 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. The Company Is taking steps to get the Equity shares admitted for trading on the on the National Stock Exchange of India Ltd and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.
INVESTORS PLEASE NOTE
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 where the bid was submitted and 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 EDUCOMP SOLUTIONS LIMITED.