|Basis of Allotment|
Action Construction Equipment Limited
(Incorporated on January 13,1995 urider the Companies Act, 1956 as Action Construction Equipments Private Limited and received a fresh Certificate of Incorporate on October 4,2005 Consequent to change of name to Action Construction Equipmens Lmimted.Frurther the name of the company has been Changed to Action Construction Equipment Limited with effect from March 23,2006)
Registered Ofllce:11 Floor, Plot N0.7, H Block, Sarita
Viihar New Delhi 110044. Tel: +91-11-26953623/3626/3633, Fax+91-11-26953717.
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 46,00,000 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PREMIUM OF RS.120/-PER EQUITY SHARE AND AT A PRICE OF RS. 130/- PER EQUITY SHARE AGGREGATING TO RS.5980 LAC (HEREINAFTER REFERRED TO AS 'THE ISSUE") INCLUDING EMPLOYEES RESERVATION OF 1,00,000 EQUITY SHARES OF FACE VALUE RS.10/- EACH AT A PRICE OF RS.130/- FOR CASH AGGREGATING RS.130 LAC AND NET ISSUE TO THE PUBLIC OF 45,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/. EACH AT A PREMIUM OF RS.120/-PER EQUITY SHARE AND AT A PRICE OF RS.130/-PER EQUITY SHARE FOR CASH AGGREGATING Rs.5850 LAC (HEREINAFTER REFERRED TO AS THE-NET ISSUE TO THE PUBLIC"). THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 25.03% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY
The Issue made through the 100% Book Building Process wherein not more then 50% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QISs") (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-Instilufionel Bidders and not less than 35% of line Not Issue to the public shall be avallable for allocation an a proportionate basis to Retail Bidders, Subject to Valid bids being received at or above the issue Price.
The ISSUE received 1,20,455 applications for 1,50,1 8,705 equity shares resulting In 33.70 times subscription.
The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutions] Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on September 20,2006. The Board of Directors of the Company at its Meeting held at Ballabhgarh-Faridabad on September 21, 2006 allotted the Equity Shares to the Successful applicants. Details of valid applications received and allotments done are as under:
A. Allotment to Emloyees(After Technical Rejections)
All the applicants in this category have been given firm allotment on proportionate basis Inverse to the over subscription ratio.
B. Allotment to Retail Investors(After Technical Rejections)
C. Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non Institutional,who have bid at the Issue Price of Rs.130/-per Equity Share, have been considered while preparing the basis of allotment. The category was Subscrbed 38.53times. The total number of shares allotted in this category is 675000 Equity shares.The category-wise details of Basis of Allotment are as under:
D. Allotment to QIBs
The total number of Equity Shares allotted in this category are 58,00,000 Equity Shares (50% of total Equity Shares alloted). All the applicants in this category have been given Firm Allotment on a PROPORTIONATE BASIS. Out of 22,50,000 Equity Shares offered to QIBs as per the terms of the issue 1,12,500 Equity Shares (i.e 5% of 22,50,000 Equity Shares ) has been allotted proportionately to mutual funs. Mutual funds applicants have also been considered eligible for proportionate allotment for the balance Equity shares in QIBs category i.e 21,37,500.
Refunds have been made through ECS, Into the Bank Accounts of the applicants as registered with the depositories, for applicanls residing at any of the 15 centres specified by SEBI. For other applinants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received with in ten days, applicants may contant at the address given below ECS Intimation Note and Refund Orders have been over-printed with the Bank Mandate details as registered, If any, with the depositories.The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.
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 allotment.
INVESTORS PLEASE NOTE
This details of the allotment made would be hosted on the wabsite of Registrars to the Issue, Karvy Computershare Private Limited at www.karvy.com or http://kcpl.karvy. 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 to", number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at me address given below:
Karvy Computershare Private Limited
TOLL FREE - HELPLINE NUMBER- 1-600-3454001
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 ACTION CONSTRUCTION EQUIPMENT LIMITED.