|Basis of Allotment|
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OBEROI REALTY LIMITED (the "Company*) was incorporated as
Kingston Properties Private Limited on May 8,1998 under the Companies Act, 1956 (the
"Companies Act") in Mumbai. The name of the Company was changed to Oberoi Realty
Private Limited on October 23,2009. The Company was converted into a public limited
company on December 14,2009 and consequently, the name was changed to Oberoi Realty
Limited. For details of changes in the name and registered office of the Company, please
see the section entitled "History and Certain Corporate Matters" on page 109 of
the Prospectus dated October 13,2010.
PUBLIC ISSUE OF 39,562,000 EQUITY SHARES WITH A FACE VALUE OF RS. 10
EACH ("EQUITY SHARES") OF OBEROI REALTY LIMITED (THE "COMPANY" OR THE
"ISSUER") FOR CASH ATA PRICE OF RS. 260 PER EQUITY SHARE (INCLUDING A SHARE
PREMIUM OF RS. 250 PER EQUITY SHARE) AGGREGATING TO RS. 10,286.12 MILLION ON (THE
"ISSUE" OR THE "IPO"). THE ISSUE WILL CONSTITUTE 12.00% OF THE FULLY
DILUTED POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.
The Company has allotted 7,121,160 Equity Shares to Anchor Investors at
Rs 260 per Equity Share in accordance with the Securities and Exchange Board of India
(Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI
THE FACE VALUE PER EQUITY SHARE IS RS.10. THE ISSUE PRICE PER EQUITY SHARE IS RS. 260 AND IT IS 26 TIMES THE FACE VALUE. The Company is undertaking the Issue in accordance with the first proviso to Rule 19(2)(b)(ii) of the Securities Contracts Regulations Rules, 1957, as amended ("SCRR"). This Issue is being made through the 100% Book Building Process wherein at least 60% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIB") Bidders. Provided that the Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis out of which one-third shall be reserved for domestic Mutual Funds. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 10% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. If at least 60% of the Issue cannot be allocated to QIBs, then the entire application money shall be refunded forthwith. Potential investors other than Anchor Investors may participate in this Issue through an Application Supported by Blocked Amount ("ASBA") process providing details about the bank account which will be blocked by the Self Certified Syndicate Banks ("SCSBs") for the same. For details, please see the section entitled "Issue Procedure" on page 350 of the Prospectus dated October 13,2010.
The Issue received 46,291 applications for 400,202,320 Equity Shares including Anchor Investors, resulting in 10.1158 times subscription. The details of the applications received in the Issue from Qualified Institutional Bidders, Non-Institutional Bidders, Retail Individual Bidders, Anchor Investor categories are as under:
(Before technical rejections)
A summary of the final demand as per BSE and the NSE as on the Bid/Issue Closing Date at different bid prices is as under:
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the BSE on October 15,2010.
A. Allotment to Retail Individual Investors (after Technical Rejections) including ASBA Applications
The Basis of Alloment to the Retail Individual Investors, who have Bid at Cut-off Price or at the Issue Price of Rs. 260 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.9007 times. The total number of Equity Shares allotted in Retail Individual Investor category is 10,689,600 Equity Shares to 44,931 successful applicants. As per the Red Herring Prospectus, [the under subscribed portion of 1,179,000 Equity Shares have been spilled over to QIBs (1,010,572 Equity Shares) and Non-Institutional Bidders (168,428 Equity Shares)]. Full and firm allotment was made to all valid applications in this category.
B. Allotment to Non Institutional Investors (After Technical Rejections) including ASBA Applications
The Basis of Allotment to the Non-Institutional Investors, who have Bid at the Issue Price of Rs. 260 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 3.3772 times. The total number of Equity Shares allotted in this category is 4,124,628 Equity Shares to 246 successful applicants. As per the Red Herring Prospectus, the spill over portion from Retail Individual Investors Category to Non-Institutional Investors was 168,428 Equity Shares. The category-wise details of the Basis of Allotment (samole) are under:
C. Allotment to QIBs Including ASBA Applications
Allotment to QIBs has been done on a proportionate basis in consultation with BSE. In this category 150 valid applications for 365,303,380 shares were received against 17,626,612 Equity Shares reserved (including spillover of 1,010,572 from retail category) resulting in subscription of to the extent of 20.72 times. As per the SEBI Regulations, Mutual Funds were initially allotted 5% of the quantum of Equity Shares available (881,330 Equity Shares) including spill oyer from Retail Category to the extent of 50,528 Equity Shares and other QIBs were allotted the remaining available shares (16,745,282 Equity Shares) including spill over from Retail Category to the extent of 960,044 Equity Shares on proportionate basis. The category-wise details of Allotment (sample) are under:
u. Allotment to Anchor investors
Allotment to Anchor Investors has been done on a discretionary basis by the Company in consultation with the BRLMs. As per the SEBI Regulations, 30% of QIB Portion, 7,121,160 Equity Shares were allotted to Anchor Investors.
The IPO Committee of the Board of Directors of the Company at its
meeting held on October 15,2010 has approved the Basis of Allotment of Equity Shares of
the Issue and has allotted the Equity Shares to various successful applicants.
Link Intime India 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 OBEROI REALTY LIMITED