|Basis of Allotment|
|(This is only an advertisement
for information purposes and not a Prospectus Announcement)
MIDFIELD INDUSTRIES LIMITED
Our company was originally incorporated as "Midfield Steels Private
Limited" on June 08,1990 under the Companies Act, 1956 and subsequently we changed
the name of our company to "Midfield industries Private Limited" and received
fresh certificate of incorporation dated April 03,2006. Subsequently our company was
converted into public limited company and we received fresh certificate of incorporation
dated July 07,2006 in the name of "Midfield Industries Limited from the Registrar of
Companies, Andhra Pradesh at Hyderabad. Registered and Corporate Office: Plot
no 6 Phase IV Extn. IDA Jeedimetia Hyderabad - 500 055, Andhra Pradesh Tel: +91-40-2309
8502, Fax: +91-40-2309 6493
Basis of Allotment
PUBLIC ISSUE OF 4,500,001 EQUITY SHARES OF Rs. 10 EACH (THE "EQUITY SHARES") FOR CASH AT A PRICE OF Rs. 133 PER EQUITY SHARE INCLUDING A PREMIUM OF Rs. 123 PER EQUITY SHARE OF MIDFIELD INDUSTRIES LMITED ("OUR COMPANY" OR "THE ISSUER") AGGREGATING Rs. 598.50 MILLION (THE "ISSUE"). THE ISSUE WOULD CONSTITUTE 35.10% OF THE POST-ISSUE SHARE CAPITAL OF OUR COMPANY.
BID/ISSUE OPENED ON July 19, 2010, CLOSED ON July 21, 2010
ISSUE PRICE: Rs. 133 PER EQUITY SHARE THE FACE VALUE OF THE EQUITY SHARE IS Rs. 10 EACH AND THE ISSUE PRICE IS 13.3 TIMES THE FACE VALUE.
"The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited ('BSE') and the trading is expected to commence on Wednesday (August 04,2010)"
The Issue was made through the 100% Book Building Process wherein not more than 50% of the net issue was allocated on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only and the remainder was available for allocation on a proportionate basis to all QIBs bidders including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price.. Further, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. The Issue received 36556 applications for 57847300 equity shares resulting in, 12.854 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors are as under: (Before technical rejections and after cheque returns).
The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on July 30, 2010. The Board of Directors of the Company at its meeting held on July 31,2010 allotted the equity shares to the successful applicants.
A. Allocation to Retail Individual Investors (Including Applications Supported
by Blocked Amount ("ASBA")) (After Technical Rejections)
B. Allocation to Non Institutional Investors (Including ASBA) (After Technical
C. Allocation to QIBs (Including ASBA) (After Technical Rejections)
The Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositories on August 02, 2010. Further, the instructions to Self Certified Syndicate Banks to unblock the amount have been given on July 31,2010. 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 within twelve working days from the date of closure of the issue.
Note: All capitalized terms used and not defined herein shall have tne respective meanings assigned to them in the Prospectus.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Bigshare Services Private Limited at http://www.bigshareonline.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 number of the Bid-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:
Bigshare Services Pvt Ltd