|Basis of Allotment|
PRATIBHA INDUSTRIES LIMITED
(Incorporated on July 19, 1995 under the Companies Act, 1956)
BASIS OF ALLOCATION
PUBLIC ISSUE OF 42,85,000 EQUITY SHARES OF RS. 10 EACH AT A PRICE OF RS. 120 PER EQUITY SHARE INCLUDING SECURITIES PREMIUM OF RS. 110 PER EQUITY SHARE FOR CASH AGGREGATING RS. 5,142 LACS (HEREINAFTER REFERRED TO AS THE "ISSUE"), INCLUDING EMPLOYEE RESERVATION OF 428,500 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH AT A PRICE OF RS. 120 PER EQUITY SHARE FOR CASH AGGREGATING RS. 514.2 LACS (HEREINAFTER REFERRED TO AS THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION SHALL BE HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE WILL CONSTITUTE 30.00% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY
ISSUE PRICE Rs. 120 PER EQUITY SHARE
The Issue made through the 100% Book Building Process where up to 50% of the net issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBS") (including 5% of the QIB portion that was to specifically be allotted to mutual funds). Further, not less than 15% of the net issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the net issue to the public shall be available for allocation on a proportionate basis to Retail Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 105042 applications for 8,79,68,850 equity shares resulting in 20.53 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Employee and categories are as under (Before technical rejections):
The 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 7th March, 2006.
A. Allocation to Employees
The Basis of Allocation to the Employees category, who have bid at cut-off or at and above the Issue Price of Rs.120/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.99 times. Firm allotments have been made against all applications. The total number of shares allotted in this category is 428300 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:
B. 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.120/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 25.45 times. The total number of shares allotted in this category is 1349850 Equity Shares. The category-wise details of the Basis of Allocation are as under:
C) Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at and above the Issue Price of Rs.120/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 19.65 times. The total number of shares allotted in this category is 578500 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:
D) Allocation to QIBs
Allocation to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (96412) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1831838) on proportionate basis. The sectoral cap and other limits applicable to the holding of shares in company have been taken into account while allotting shares. Mutual Funds were allotted 26.32% for QIB segment and other QIB applicants were allotted 73.67% of the shares for QIB segment.
The Committee of Directors of the company at its Meeting held at Mumbai on 7th March, 2006 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The Refund Orders and allotment advice and notice has 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 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
These details of the allocation made would be hosted on the webslte of Registrars to the Issue, Intime Spectrum Registry Limited Limited at www.intimespectrum.com .
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 OR THE BUSINESS PROSPECTS OF PRATIBHA INDUSTRIES LIMITED