|Basis of Allotment|
Our Company was incorporated under the CompaniesAct, 1956 on April
8,2005 as "Robin Garments Private Limited". Subsequently, the name was changed
to "Robin Solar Private Limited" pursuant to a special resolution of our
shareholders dated July 2, 2008. A fresh certificate of incorporation consequent to such
change of name was granted to our Company by the Registrar of Companies, NCT situated at
New Delhi ("RoC") on July 21, 2008. Consequent to the
amalgamation of the erstwhile Indosolar Limited with our Company in terms of the Scheme of
Amalgamation, as sanctioned by the High Court of Delhi at New Delhi by its order dated
September 16,2009 (the "Scheme"), the name of our Company was changed to
"Indosolar Limited" and the status was changed to a public limited company. A
fresh certificate of incorporation consequent to such change in status was granted to our
Company by the RoC on October 12,2009. Further, a fresh certificate of incorporation
consequent to such change in name was granted to our Company by the RoC on October
30,2009. For further details in this regard, see the section titled "History and
Certain Corporate Matters" on page 90.
BASIS OF ALLOCATION
PUBLIC ISSUE OF 12,31,03,448 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF INDOSOLAR LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH ATA PRICE OF RS. 29 PER EQUITY SHARE (INCLUDINGA SHARE PREMIUM OF RS. 19 PER EQUITY SHARE) AGGREGATING RS. 35,700.00 LAKH (THE "ISSUE"). THE ISSUE WILL CONSTITUTE 36.73% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.
THE FACE VALUE PER EQUITY SHARE IS RS. 10/-. THE OFFER PRICE PER EQUITY SHARE IS RS. 29/-AND IT IS 2.9 TIMES THE FACE VALUE.
The Issue is being made through the 100% Book Building Process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the "SEBI Regulations"), wherein at least 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"). If at least 50% of the Issue cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Our Company may, in consultation with the Book Running Lead Manager, allocate up to 30% of the QIB Portion to Anchor Investors at the Anchor Investor Price on a discretionary basis, out of which at least one-third will be available for allocation to domestic Mutual Funds only. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs, subject to valid Bids being received from them at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 30,77,587 Equity Shares, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the Net QIB Portion and allocated proportionately to QIBs in proportion to their Bids. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price. All Investors may participate in this Issue though the ASBA process by providing the details of their respective bank accounts in which the corresponding Bid Amounts will be blocked by the SCSBs. Specific attention of investors is invited to the section titled "Issue Procedure" on page 171.
The Issue received 47,279 applications for 176,227,800 equity shares resulting in 1.43 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 rejections)
The Basis of Allocation was finalized in consultation with the National Stock Exchange Limited ("NSE") on September 23,2010.
A. Allocation to Retail Individual Investors (AfterTechnical Rejections)
B. Allocation to Non Institutional Investors (After Technical Rejections) (Including
C. Allocation to QIBs
The IPO Committee of the Company at it's Meeting held at Greater Noida on September 24,2010 has taken on record the basis of allocation of shares approved by the National Stock Exchange Limited and has authorized the Corporate Action for the transfer of the shares to various successful applicants. The CAN-cum-Refund Orders and allotment advice and/or notices have been dispatched to the address of the investors as registered with the depositories on September 25,2010. 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 Account 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 on or before September 29,2010.
INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Link Intime India Private Limited at Website: www.linkintime.co.in
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 shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment detailst the address given below:
Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400 078. Tel.: +91 22 2596 0320, Fax: +91 22 2596 0329. Email ID:firstname.lastname@example.org
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 INDOSOLAR LIMITED.