| This communication is intended for release solely in India and may not be released in
the United States. The securities of Dhanus Technologies Limited have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an exemption from such
registration under the U.S. Securities Act of 1933, as amended. dhanus
technologies limited
(Originally incorporated on April 2,1993 as Wantech
Communications Private Limited with the Registrar of Companies, Tamil Nadu, Chennai. The
name of the Company was changed to Dhanus E-Com Private Limited and a fresh certificate of
incorporation was obtained on August 7,2000 from the Registrar of Companies, Tamil Nadu,
Chennai. Subsequently, the Company was converted into a public limited company on
September 18,2000 under section 44 of the Companies Act, 1956 and the name was changed to
Dhanus E-Com Limited. The name of the Company was further changed to its present name
Dhanus Technologies Limited on June 25,2004.)
Registered Office: 6-B, Mena Kampala Arcade, 113/114, Sir
Theyagaraya Road, T. Nagar, Chennai - 600 017. Tel.: +91 44 28151135/28151635/39180735;
Fax: +91 44 39180789.
Corporate Office: Suite 4-A, 4th Floor, 'A' Block, Mena Kampala Arcade, 113/114 Sir
Theyagaraya Road, T. Nagar, Chennai - 600 017.
Contact Person/Compliance Officer: Mr. V. Baskaran, CFO & Company Secretary,
E-mail: ipo@dhanus.net;
Website: www.dhanus.net
BASIS OF ALLOCATION
PUBLIC ISSUE OF 38,35,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS.
295/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 285/- PER EQUITY SHARE) AGGREGATING
TO RS. 11313.25 LAKHS (HEREINAFTER REFERRED TO AS "THE ISSUE"). THE ISSUE
COMPRISED A RESERVATION FOR ELIGIBLE EMPLOYEES OF UPTO 2,00,000 EQUITY SHARES OF RS. 10/-
EACH ("EMPLOYEE RESERVATION PORTION") AND THE NET ISSUE TO THE PUBLIC COMPRISED
OF 36,35,000 EQUITY SHARES OF RS. 10/- EACH ("NET ISSUE"). THE ISSUE CONSTITUTES
21.37% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE
CONSTITUTES 20.26% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
ISSUE PRICE IS RS. 295/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH. THE ISSUE
PRICE IS 29.5 TIMES OF THE FACE VALUE.
In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as
amended from time to time ("SCRR"), this being an Issue for less than 25% of the
post-Issue capital, the Issue is made through the 100% Book Building Process wherein at
least 60% of the Net Issue has been allotted on a proportionate basis to Qualified
Institutional Buyers ("QIBs"), out of which 5% is available for allocation on a
proportionate basis to Mutual Funds only. The remainder is available for allocation on a
proportionate basis to QIBs including Mutual Funds, subject to valid bids being received
from them at or above the Issue Price. If at least 60% of the Net Issue cannot be allotted
to QIBs, then the entire application money will be refunded. Further, not less than 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. Further upto 2,00,000 Equity Shares shall be
available for allocation on a proportionate basis to the Eligible Employees, subject to
valid Bids being received at or above the Issue Price.
The Issue opened for subscription on Monday, September 10, 2007 and closed on Wednesday,
September 12, 2007. The Issue received 1,00,206 applications for 10,84,86,300 equity
shares resulting in 28.29 times subscription.
As advised by SEBI, the Company had published a public notice dated 26.09.2007 on
27.09.2007 in newspapers and the individual intimation letters dated 24.09.2007 was sent
to all the applicants (including QIBs) on 25.09.2007. The Company had given an option to
all the applicants (including QIBs) to withdraw their applications, if they wish to do so,
within a period of ten (10) days from the date of the public notice. The last date for
receipt of withdrawal was 06.10.2007. In view of the above, the Registrar has received
requests for withdrawal of 17,363 applications for 5,29,85,580 shares. After considering
the above withdrawals, the Issue remained oversubscribed 14.47 times.
The details of the subscriptions received in the Issue from Qualified Institutional
Buyers, Non-Institutional Investors, Retail Individual Investors and Employee categories
(After withdrawals & before technical rejections) are as under:
| Category |
No. of Applications |
No. Shares |
Subscription (no. of times) |
| Qualified Institutional Buyers |
29 |
3,04,45,560 |
13.96 |
| Non Institutional Investors |
103 |
87,45,860 |
24.06 |
| Retail Individual Investors |
82,691 |
1,61,04,000 |
14.77 |
| Eligible Employees |
20 |
2,05,300 |
1.03 |
Final Demands
The final demand at different bid prices is as under:
| Bid Price |
No. of Shares |
% of Total |
Cumulative Total |
Cumulative % of Total |
| 280 |
837680 |
1.44 |
58283480 |
100.00 |
| 281 |
140 |
0.00 |
57445800 |
98.56 |
| 282 |
80 |
0.00 |
57445660 |
98.56 |
| 283 |
100 |
0.00 |
57445580 |
98.56 |
| 284 |
60 |
0.00 |
57445480 |
98.56 |
| 285 |
107480 |
0.18 |
57445420 |
98.56 |
| 286 |
80 |
0.00 |
57337940 |
98.38 |
| 287 |
620 |
0.00 |
57337860 |
98.38 |
| 288 |
580 |
0.00 |
57337240 |
98.38 |
| 289 |
20 |
0.00 |
57336660 |
98.38 |
| 290 |
706960 |
1.21 |
57336640 |
98.38 |
| 291 |
60 |
0.00 |
56629680 |
97.16 |
| 292 |
300 |
0.00 |
56629620 |
97.16 |
| 293 |
340 |
0.00 |
56629320 |
97.16 |
| 294 |
10880 |
0.02 |
56628980 |
97.16 |
| 295 & CUT OFF |
56618100 |
97.14 |
56618100 |
97.14 |
The Basis of Allocation was finalized in consultation with the Designated Stock
Exchange-the Bombay Stock Exchange Limited ("BSE") on Tuesday, October 9,2007.
A. Allocation to Eligible Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of
Rs. 295/- per Equity Share, was finalized in consultation with BSE. The category was
subscribed to the extent of 1.03 times. The total number of shares allotted in this
category is 2,00,000 Equity Shares to 20 successful applicants. The category-wise details
of the Basis of Allocation are as under:
| Category |
No. of
Applications |
% to
Total |
No. of
Shares Applied |
% to
Total |
No. of
Shares Allocated |
Ratio |
Total No.of
Shares Allocated |
| 40 |
2 |
10.00 |
80 |
0.04 |
40 |
FIRM |
80 |
| 60 |
1 |
5.00 |
60 |
0.03 |
58 |
FIRM |
58 |
| 100 |
1 |
5.00 |
100 |
0.05 |
97 |
FIRM |
97 |
| 700 |
1 |
5.00 |
700 |
0.34 |
682 |
FIRM |
682 |
| 3500 |
1 |
5.00 |
3,500 |
1.70 |
3410 |
FIRM |
3,410 |
| 3560 |
1 |
5.00 |
3,560 |
1.73 |
3468 |
FIRM |
3,468 |
| 3600 |
1 |
5.00 |
3,600 |
1.75 |
3507 |
FIRM |
3,507 |
| 3700 |
1 |
5.00 |
3,700 |
1.80 |
3604 |
FIRM |
3,604 |
| 12000 |
2 |
10.00 |
24,000 |
11.69 |
11690 |
FIRM |
23,380 |
| 16000 |
1 |
5.00 |
16,000 |
7.79 |
15587 |
FIRM |
15,587 |
| 18000 |
5 |
25.00 |
90,000 |
43.84 |
17535 |
FIRM |
87,675 |
| 20000 |
3 |
15.00 |
60,000 |
29.23 |
19484 |
FIRM |
58,452 |
B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at
the Issue Price of Rs. 295/- per Equity Share, was finalized in consultation with BSE. The
category was subscribed to the extent of 14.54 times. The total number of shares allotted
in this category is 10,90,516 Equity Shares to 50,856 successful applicants. The
category-wise details of the Basis of Allocation are as under:
| Category |
No.of
Applications |
% to
Total |
No. of
Shares Applied |
% to
Total |
No. of
Shares Allocated |
Ratio |
Total No. of
Shares Allocated |
| 20 |
10,767 |
13.26 |
2,15,340 |
1.36 |
20 |
4:57 |
15,080 |
| 40 |
6,480 |
7.98 |
2,59,200 |
1.63 |
20 |
11:80 |
17,820 |
| 60 |
3,768 |
4.64 |
2,26,080 |
1.43 |
20 |
20:97 |
15,540 |
| 80 |
2,657 |
3.27 |
2,12,560 |
1.34 |
20 |
11:40 |
14,620 |
| 100 |
4,741 |
5.84 |
4,74,100 |
2.99 |
20 |
11:32 |
32,600 |
| 120 |
1,389 |
1.71 |
1,66,680 |
1.05 |
20 |
33:80 |
11,460 |
| 140 |
1,088 |
1.34 |
1,52,320 |
0.96 |
20 |
13:27 |
10,480 |
| 160 |
9,097 |
11.21 |
14,55,520 |
9.18 |
20 |
11:20 |
1,00,100 |
| 180 |
1,102 |
1.36 |
1,98,360 |
1.25 |
20 |
13:21 |
13,640 |
| 200 |
1,876 |
2.31 |
3,75,200 |
2.37 |
20 |
11:16 |
25,800 |
| 220 |
369 |
0.45 |
81,180 |
0.51 |
20 |
31:41 |
5,580 |
| 240 |
423 |
0.52 |
1,01,520 |
0.64 |
20 |
33:40 |
6,980 |
| 260 |
234 |
0.29 |
60,840 |
0.38 |
20 |
25:28 |
4,180 |
| 280 |
179 |
0.22 |
50,120 |
0.32 |
20 |
49:51 |
3,440 |
| 300 |
594 |
0.73 |
1,78,200 |
1.12 |
21 |
58:59 |
12,264 |
| 320 |
36,406 |
44.85 |
1,16,49,920 |
73.47 |
22 |
FIRM |
8,00,932 |
C. Allocation to Non-Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who has bid at the Issue Price of Rs. 295/- per
Equity Share, was finalized in consultation with BSE. The category was subscribed to the
extent of 24.04 times. The total number of shares allotted in this category is 3,63,517
Equity Shares to 83 successful applicants. The category-wise details of the Basis of
Allocation are as under:
| Category |
No. of
Applications |
% to
Total |
No. of Shares
Applied |
% to
Total |
No. of Shares
Allocated |
Ratio |
Total No. of
Shares Allocated |
| 340 |
8 |
9.30 |
2,720 |
0.03 |
20 |
3:4 |
120 |
| 360 |
2 |
2.33 |
720 |
0.01 |
20 |
FIRM |
40 |
| 400 |
5 |
5.81 |
2,000 |
0.02 |
20 |
4:5 |
80 |
| 480 |
1 |
1.16 |
480 |
0.01 |
20 |
FIRM |
20 |
| 500 |
3 |
3.49 |
1,500 |
0.02 |
21 |
FIRM |
63 |
| 600 |
1 |
1.16 |
600 |
0.01 |
25 |
FIRM |
25 |
| 640 |
1 |
1.16 |
640 |
0.01 |
27 |
FIRM |
27 |
| 660 |
1 |
1.16 |
660 |
0.01 |
27 |
FIRM |
27 |
| 680 |
3 |
3.49 |
2,040 |
0.02 |
28 |
FIRM |
84 |
| 1000 |
2 |
2.33 |
2,000 |
0.02 |
42 |
FIRM |
84 |
| 1680 |
2 |
2.33 |
3,360 |
0.04 |
70 |
FIRM |
140 |
| 2000 |
2 |
2.33 |
4,000 |
0.05 |
83 |
FIRM |
166 |
| 3700 |
1 |
1.16 |
3,700 |
0.04 |
154 |
FIRM |
154 |
| 4500 |
1 |
1.16 |
4,500 |
0.05 |
187 |
FIRM |
187 |
| 5500 |
1 |
1.16 |
5,500 |
0.06 |
229 |
FIRM |
229 |
| 5780 |
1 |
1.16 |
5,780 |
0.07 |
240 |
FIRM |
240 |
| 6400 |
1 |
1.16 |
6,400 |
0.07 |
266 |
FIRM |
266 |
| 6760 |
2 |
2.33 |
13,520 |
0.15 |
281 |
FIRM |
562 |
| 7000 |
1 |
1.16 |
7,000 |
0.08 |
291 |
FIRM |
291 |
| 8460 |
3 |
3.49 |
25,380 |
0.29 |
352 |
FIRM |
1,056 |
| 8600 |
1 |
1.16 |
8,600 |
0.10 |
358 |
FIRM |
358 |
| 9000 |
1 |
1.16 |
9,000 |
0.10 |
374 |
FIRM |
374 |
| 9140 |
1 |
1.16 |
9,140 |
0.10 |
380 |
FIRM |
380 |
| 9600 |
1 |
1.16 |
9,600 |
0.11 |
399 |
FIRM |
399 |
| 10000 |
4 |
4.65 |
40,000 |
0.46 |
416 |
FIRM |
1,664 |
| 12000 |
1 |
1.16 |
12,000 |
0.14 |
499 |
FIRM |
499 |
| 15000 |
1 |
1.16 |
15,000 |
0.17 |
624 |
FIRM |
624 |
| 16920 |
1 |
1.16 |
16,920 |
0.19 |
704 |
FIRM |
704 |
| 16940 |
2 |
2.33 |
33,880 |
0.39 |
705 |
FIRM |
1,410 |
| 17000 |
1 |
1.16 |
17,000 |
0.19 |
707 |
FIRM |
707 |
| 20320 |
3 |
3.49 |
60,960 |
0.70 |
845 |
FIRM |
2,535 |
| 25100 |
1 |
1.16 |
25,100 |
0.29 |
1,044 |
FIRM |
1,044 |
| 25420 |
1 |
1.16 |
25,420 |
0.29 |
1,057 |
FIRM |
1,057 |
| 33800 |
1 |
1.16 |
33,800 |
0.39 |
1,406 |
FIRM |
1,406 |
| 33880 |
1 |
1.16 |
33,880 |
0.39 |
1,409 |
FIRM |
1,409 |
| 33900 |
1 |
1.16 |
33,900 |
0.39 |
1,410 |
FIRM |
1,410 |
| 34000 |
1 |
1.16 |
34,000 |
0.39 |
1,414 |
FIRM |
1,414 |
| 40000 |
1 |
1.16 |
40,000 |
0.46 |
1,664 |
FIRM |
1,664 |
| 47440 |
1 |
1.16 |
47,440 |
0.54 |
1,973 |
FIRM |
1,973 |
| 50000 |
4 |
4.65 |
2,00,000 |
2.29 |
2,080 |
FIRM |
8,320 |
| 67700 |
1 |
1.16 |
67,700 |
0.77 |
2,816 |
FIRM |
2,816 |
| 70000 |
1 |
1.16 |
70,000 |
0.80 |
2,911 |
FIRM |
2,911 |
| 84740 |
1 |
1.16 |
84,740 |
0.97 |
3,525 |
FIRM |
3,525 |
| 100000 |
1 |
1.16 |
1,00,000 |
1.14 |
4,159 |
FIRM |
4,159 |
| 170000 |
1 |
1.16 |
1,70,000 |
1.95 |
7,071 |
FIRM |
7,071 |
| 175000 |
2 |
2.33 |
3,50,000 |
4.00 |
7,279 |
FIRM |
14,558 |
| 360000 |
1 |
1.16 |
3,60,000 |
4.12 |
14,973 |
FIRM |
14,973 |
| 363500 |
1 |
1.16 |
3,63,500 |
4.16 |
15,119 |
FIRM |
15,119 |
| 655000 |
1 |
1.16 |
6,55,000 |
7.49 |
27,243 |
FIRM |
27,243 |
| 677980 |
1 |
1.16 |
6,77,980 |
7.76 |
28,199 |
FIRM |
28,199 |
| 847500 |
3 |
3.49 |
25,42,500 |
29.09 |
35,250 |
FIRM |
1,05,750 |
| 2500000 |
1 |
1.16 |
25,00,000 |
28.61 |
1,03,981 |
FIRM |
1,03,981 |
D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per
the SEBI guidelines, Mutual Funds were allotted 50,800 shares and other QIBs were allotted
the remaining available shares, i.e., 21,30,200 equity shares on proportionate basis.
| Category |
Fls/Banks |
MFs |
Flls |
VCs |
Total |
| No. of Shares |
1,64,355 |
50,800 |
19,00,494 |
65,351 |
21,81,000 |
The Board of Directors of the Company has, at its Meeting held at Chennai on October
11,2007, approved the basis of allocation of Equity Shares and allotted the Shares to
various successful applicants, in consultation with the BSE. The Company has filed the
listing application with the Bombay Stock Exchange Limited and the National Stock Exchange
of India Limited on October 12,2007.
The Confirmation of Allocation Note ("CAN"), Refund Orders and
ECS/RTGS/NEFT/Direct Credit Intimation and notices (where applicable) have been dispatched
to the address of the Investors as registered with the depositories. In case the same is
not received within ten (10) days, Investors may contact the Registrar to the Issue 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 Equity Shares allotted to the
successful applicants have been credited to their respective 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 the Bombay Stock Exchange
Limited ("BSE") and National Stock Exchange of India Limited ("NSE")
within seven (7) working days from the date of approval of the Basis of Allocation.
INVESTORS PLEASE NOTE
These details of the allotment made have been hosted on the website of the Registrars to
the Issue, Cameo Corporate Services Limited at www.cameoindia.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-Appllcation form, Number of Equity Shares bid for, Name of the Member of the
Syndicate, Place where the bid was submitted and payment details at the address given
below:
CAMEO CORPORATE SERVICES LIMITED
Unit: Dhanus Technologies Limited
"Subramanian Buildings", No. 1, Club House Road, Chennai 600002
Tel:+91-44-28460390,28461989,28460014,28461173
Fax:+91-44-28460129, E-mail: dhanus@cameoindia.com
Contact Person: Mr. R.D. Ramasamy
This is to inform all Investors that it has been brought to the knowledge of
the Company that a regular case has been registered by the Central Bureau of Investigation
("CBI") on August 23,2007 against the Company and unknown public servants in
crime number RC MAI 2007 A 0042 of CBI, ACB, Chennai u/s 120-B r/w u/s 120-B IPC r/w 20
r/w Sec 4 of Indian Telegraph Act, 1885 and Sec 13(2) r/w 13(1)(d) of PC Act, 1988
regarding criminal conspiracy and illegal marketing of telegraph products and abuse of
official position, based on a complaint from Divisional Engineer Telecom (Vigilance &
Telecom Monitoring).
The Company wishes to clarify that It was not aware of the above case registered
against it, as no Summons or Notice or copy of the said case/crime number has been
received by the Company. The Company is taking appropriate steps to clarify to the
authorities that it has obtained a "No Objection Certificate" (NOC) vide letter
no. 808-37/2007-CS dated 19.9.2007 from the Department of Telecommunications, Government
of India, for sale of International Calling Cards in India which is subject to certain
conditions mentioned in the said letter. The conditions specified in the NOC from DOT, as
applicable, are being satisfied by the Company.
Place : Chennai
Date : October 12,2007 |
For Dhanus Technologies Limited
Sd/-
Executive Chairman |
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 DHANUS TECHNOLOGIES
LIMITED. |