Basis of Allotment

This is only an advertisement for information purposes and not a prospectus announcement

This is only an advertisement for information purposes and not a prospectus announcement

ARSS INFRASTRUCTURE PROJECTS LIMITED

(Incorporated as ARSS Stones Private Limited on May 17, 2000 under the Companies Act, 1956 at Bhubaneswar. Subsequently the company was converted into a public limited company and received fresh certificate of incorporation dated April 03, 2006 in the name of ARSS Infrastructure Projects Limited from the Registrar of Companies Orissa)
Registered Office: Plot No. 38, Sector - A, Zone -D,Mancheswar Industrial Estate, Bhubaneswar - 751010, Orissa. Tel. No.: +91 674 2588554 / 52; Fax No.: +91 674 2585074; Contact Person: Mr. Bibhuti Bhusan Sahoo, Company Secretary & Compliance Officer; E-mail: ipo@arssgroup.in; Website: www.arssgroup.in

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 22,88,888 EQUITY SHARES OF RS.10/- ("EQUITY SHARES") OF ARSS INFRASTRUCTURE PROJECTS LIMITED ("ARSS" OR THE "COMPANY") FOR CASH AT A PRICE OF RS.450/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 440/- PER EQUITY SHARE) AGGREGATING UPTO RS.10300 LACS ("ISSUE"). THE ISSUE CONSTITUTES 18.23% OF THE PRE ISSUE AND 15.42% OF THE POST ISSUE PAID UP EQUITY CAPITAL OF THE COMPANY.

BID/ISSUE OPENED ON FEBRUARY 08, 2010, CLOSED ON FEBRUARY 11, 2010

THE FACE VALUE PER EQUITY SHARE IS RS. 10/- EACH. THE ISSUE PRICE OF THE EQUITY SHARES IS RS. 450 PER EQUITY SHARE WHICH IS 45 TIMES THE FACE VALUE OF THE EQUITY SHARES.

The Issue was made through the 100% Book Building Process wherein atleast 60% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") in accordance with applicable SEBI Regulations. 5% of the QIB portion has been allocated for Mutual Funds and the balance of QIB portion has been allocated on a proportionate basis to all QIBs including Mutual Funds, subject to valid Bids being received at or above Issue Price. Further, 10% of the Issue has been allocated on a proportionate basis to Non-Institutional Bidders and 30% of Issue has been allocated on a proportionate basis to Retail Individual Bidders applying for equity shares of or for a value not more than Rs. 1,00,000/-
The Issue received 86,153 applications for 11,74,67,763 Equity Shares (after cheque return) resulting in 51.32 times subscription. A total of 2,289,230 shares were allotted across categories for rounding off. The details of the applications received in the Issue from QIBs, Non-Institutional Bidders, and Retail Individual Bidders categories (before technical rejections) are as under:

Category

No. of Applications No. of shares bid No. of times subscription
QIB 106 7,43,77,365 54.15
Non-Institutional Bidders 197 2,94,40,350 128.61
Retail Individual Bidders 85850 1,36,50,048 19.72
Total 86153 11,74,67,763 51.32

Final Demand

The final demand at different bid prices within the price band of Rs. 410 to Rs. 450 is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
410 37725 0.031 119639400 100
411-419 2970 0.002 119601675 99.969
420 1305 0.001 119598705 99.966
421-429 840 0.001 119597400 99.965
431-439 930 0.001 119588070 99.957
440 1455 0.001 119587140 99.956
441-449 870 0.001 119585685 99.955
450 106777635 89.25 119584815 99.954
Cut-off 12807180 10.705 12807180 10.705
TOTAL 119639400 100.00

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - Bombay Stock Exchange Limited ("BSE") on Tuesday February 23, 2010. Details of valid applications received and allotment done are as under

A) Allocation to Retail Investors (after technical rejections) including ASBA applications

The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price or at the Issue Price of Rs. 450/- per Equity Share, was finalized in consultation with the BSE. The Company received 84,824 valid applications for 1,35,38,370 Equity Shares in this category resulting in 19.715 times subscription. The category wise details of the Basis of Allotment are given below:

Category
(No. of
shares bid)
No. of
Applns.
% to
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of
Equity Shares
Allocated
Ratio Total No. of
Equity Shares
Allocated
15 8088 9.54 121320 0.90 15 4:79 6150
30 4243 5.00 127290 0.94 15 8:79 6450
45 2917 3.44 131265 0.97 15 12:79 6645
60 2670 3.15 160200 1.18 15 15:74 8115
75 1438 1.70 107850 0.80 15 20:79 5460
90 1525 1.80 137250 1.01 15 7:23 6960
105 3704 4.37 388920 2.87 15 11:31 19725
120 1588 1.87 190560 1.41 15 13:32 9675
135 415 0.49 56025 0.41 15 38:83 2850
150 1176 1.39 176400 1.30 15 33:65 8955
165 411 0.48 67815 0.50 15 47:84 3450
180 580 0.68 104400 0.77 15 14:23 5295
195 361 0.43 70395 0.52 15 60:91 3570
210 55708 65.67 11698680 86.41 15 49:69 593370

B) Allocation to Non Institutional Bidders (after technical rejections) including ASBA applications

The Basis of Allotment to the Non Institutional Bidders, who bid at the Issue Price of Rs. 450 per Equity Share, was finalized in consultation with the BSE. The Company received 184 valid applications for 2,49,37,320 Equity Shares in this category resulting in 128.609 times subscription. The category wise details of the Basis of Allotment (sample) are given below:

Category
(No. of
shares bid)
No. of
Applns.
% to
Total
Total No. of
Equity Shares
Applied
% to
Total
No. of
Equity Shares
Allocated
Ratio Total No. of
Equity Shares
Allocated
225 8 4.35 1800 0.01 15 1:8 15
240 4 2.17 960 0.00 15 1:4 15
450 5 2.72 2250 0.01 15 1:5 15
495 2 1.09 990 0.00 15 1:2 15
1050 3 1.63 3150 0.01 15 2:3 30
1095 onwards FIRM
1500000 1 0.54 1500000 5.10 11663 FIRM 11663
2111100 1 1.63 2111100 21.51 49245 FIRM 49245

C) Allocation in QIB Portion

106 valid applications were received in this category and allocation to QIBs has been done on a proportionate basis in consultation with the BSE. As per the SEBI  ICDR Regulations, Mutual Funds were initially allotted 68677 (Equity Shares), corresponding to 5% of the QIB Portion, and balance 1304863 shares were allotted to QIBs including Mutual Funds. Breakup of the total QIB Portion is as follows:

Category Mutual Funds Flls Fls/Banks ICs VCs/FVCIs Total
No. of Shares 283059 788342 219592 9853 72694 1373540

The IPO Committee of the Board at a meeting held in Bhubaneshwar on February 24, 2010 adopted the basis of allotment of shares as approved by the BSE and recommended the allotment of Equity Shares to successful applicants.

The CAN-cum-Refund Orders and NECS/RTGS/DIRECT CREDIT Intimation have been dispatched to the address of the investors as registered with the depositories and the same have been completed on February 25, 2010. Instructions to Self Certified Syndicate Banks to transfer funds related to Equity Shares allotted, if any, and unblock the remaining amount have been given on February 24, 2010. In case the same are not received within ten days, investors may contact the Registrar to the Issue 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 shares allocated to the successful applicants have been credited to their beneficiary accounts on February 25,2010 subject to validation of the account details with the depositories concerned. The Company has received the final listing and trading approvals from the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited on February 26, 2010 and the Equity Shares of the Company shall be listed and admitted for trading with effect from March 3, 2010.

INVESTORS PLEASE NOTE

These details of the allocation will also be available on the website of the Registrar to the Issue, Bigshare Service Private Limited, at http://www.bigshareonline.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting the full name of the First/Sole applicants, 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 :

Bigshare Services Private Limited
E-2,Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri [E], Mumbai - 400 072.
Phone: (91-22) 4043 0200; Fax: (91-22) 2847 5207; Email:ipo@bigshareonline.com
Website: www.bigshareonline.com; Contact Person: Mr. Ashok Shetty

Place: Mumbai

Date : March 2, 2010

For ARSS Infrastructure Projects Limited
Sd/-
COMPLIANCE OFFICER

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 ARSS INFRASTRUCTURE PROJECTS LIMITED.

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