|Basis of Allotment|
K.P.R. MILL LIMITED
(The company was incorporated as K P R Cotton Mils Private Limited on March 19, 2003 under the Companies Act, 1956. The name of the company was subsequently changed to K P R Mill Private Limited and the status of the company was also changed from private limited company to a public limited company following a merger and pursuant to a scheme of arrangement approved by the High Court of Judicature at Madras on August 19,2006)
Regd. Office: No.9, Gokul Buildings, 1st Floor, A.K.S Nagar, Thadagam Road,
Coimbatore 641001, Tamilnadu, India Tel:+9l-422-247 9835, Fax:+91-422-247 0159. Corporate
Office: 270, J, Periyar Colony, Anupparpalayam,
BASIS OF ALLOCATION
PUBLIC ISSUE OF 59,12,100 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 225/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 215/- PER EQUITY SHARE) AGGREGATING TO RS. 133.02 CRORES (REFERRED TO AS "THE ISSUE") BY K.P.R MILL LIMITED (THE "COMPANY" OR THE "ISSUER"). THE ISSUE CONSTITUTES 15.69% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS. 10/-.
The Issue made through the 100% Book Building Process wherein at least 60% of the net Issue 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 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 Bidders, subject to valid bids being received at or above the Issue Price. The Issue received 5859 applications for 69,29,475 equity shares resulting in 1.17 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as under: (Before technical rejection)
A sample of 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 18th August, 2007.
A. 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 and above the Issue Price of Rs. 225 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.3367 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 5,85,525 Equity Shares to 5641 successful applicants.The unsubscribed portion of 11,88,105 equity shares has been added to Non-Institutional and Qualified Institutional Investors categories, The category-wise details of the Basis of Allocation (Sample) are as under:
B. Allocation to Non-Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs. 225 per Equity Share, was finalized in consultation with BSE, The total number of shares allotted in this category is 12,06,825 Equity Shares (including 615615 equity shares spilled over from Retail Individual Investors category) to 77 applicants. The category-wise details of the Basis of Allocation (Sample) are as under:
C. 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 to be allotted 5% of the quantum of shares available. Since there were no Mutual Fund applications received, the total shares of 41,19,750 including spill over from the unsubscribed portion of Retail Individual Investors category to the extent of 5,72,490 equity shares were allotted to QIBs.
The Board of Directors of the company at it's meeting held at Coimbatore on 20th August, 2007 has approved the basis of allotment of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) will be dispatched to the address of the investors as registered with the depositories on or before August 21,2007. 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 the 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
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:
Karvy Computershare Private 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 K.P.R MILL LIMITED.