|Basis of Allotment|
Our Company was originally incorporated as Nitesh Estates Private Limited on February 20,2004 as a private limited company under the provisions of the Companies Act, 1956 in Bengaluru. We became a public limited company on November 3,2009 and our name was changed to Nitesh Estates Limited pursuant to a certificate for changeof name on November 3, 2009.
Registered Office: Nitesh Timesquare, 7th Floor, No.8, M.G.Road, Bengaluru 560 001, Karnataka, India. Tel (91 80) 4017 4000, Fax: (91 80) 2555 0825. Email: firstname.lastname@example.org Website: www.niteshestates.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 75,000,000 EQUITY SHARES OF Rs.10 EACH OF NITESH ESTATES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF Rs. 54 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 44 PER EQUITY SHARE) AGGREGATING TO Rs. 4,050.00 MILLION (THE "ISSUE"). THE ISSUE WILL CONSTITUTE 51.43% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
PRICE BAND: RS. 54 TO RS. 56 PER EQUITY SHARE OF FACE VALUE RS. 10 EACH
THE FLOOR PRICE IS 5.4 TIMES THE FACE VALUE AND THE CAP PRICE IS 5.6 TIMES THE FACE VALUE
The Issue made through the 100% Book Building Process wherein at least 50% of the Issue will be allocated on a proportionate basis to QIBs. Out of the QIB Portion (excluding Anchor Investor Portion), 5% shall be available for allocation in a proportionate basis to Mutual Funds only. Further, not less than 15% and 35% of the Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
The Issue received 8919 applications for 85477562 equity shares resulting in 1.13 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional. Retail Individual Investors and Anchor Investors categories are as under: (Before technical rejections)
The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on May 10,2010.
A. Allocation to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA")) (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or above the Issue Price of Rs. 54/- per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.14 times and hence allotment was done on full and firm basis to all valid applicants. There were 3550 applications for 1353600 equity shares made under ASBA process. Of these 3521 applications for 1338700 equity shares were found valid and they were considered for allotment on full and firm basis. The total number of shares allotted in Retail Individual Investor category is 3676400 Equity Shares which were allotted to 8750 successful applicants.
B. Allocation to Non Institutional Investors (AfterTechnical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at or above the Issue Price of Rs. 54/- per Equity Share or above, was finalized in consultation with BSE. Overall 35 applications for 1018900 equity shares were found valid and they were considered for allotment on full and firm basis.
C. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE (including 1640235 equity snares being 5% of the unsubscribed portion of the Retail and HNI reservation were added to the QIB category.). In accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Mutual Funds were initially allotted 5% of the QIB Portion (excluding Anchor Investor Portion) i.e. 2972825 Equity Shares. The balance QIB portion, being 56483675 Equity Shares, was allocated on a proportionate basis to all QIBs including Mutual Funds.
D. Anchor Investors
The Company allocated 10848200 Equity Shares to 5 Anchor Investors in consultation
with the Book Running Lead Manager.
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositohes on May 11, 2010. Further, the instructions to Self Certified Syndicate Banks have been sent on May 10,2010. In case the same is not received within 10 days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The Equity 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 allocation.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, serial numberof theBid-cum-Application 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:
KARVY Computershare Private Limited
TOLL FREE - HELPLINE NUMBER
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITYSHARES ON LISTING OR THE BUSINESS PROSPECTS OF NITESH ESTATES LIMITED.