|Basis of Allotment|
This is only an advertisement for information purposes
and not a Prospectus announcement
(Incorporated in England and Wales on 18 November 1969 and registered as
a public limited company under company number 00966425. The Company changed its name from
Standard Chartered Bank Public Limited Company to Standard Chartered PLC on 1 January
BASIS OF ALLOTMENT
ISSUE OF 240,000,000 INDIAN DEPOSITORY RECEIPTS ("IDRs") AT AN ISSUE PRICE OF
Rs.104* PER IDR WITH EVERY 10 IDRS REPRESENTING ONE SHARE OF STANDARD CHARTERED PLC OF
US$0.50 NOMINAL VALUE AGGREGATING TO Rs. 24,863.47 MILLION (THE "ISSUE").
In accordance with Regulation 98 of the SEBI Regulations, the Issue was made through a 100% Book Building Process where at least 50% of the Issue has been Allotted to QIBs on a proportionate basis. The Company Allotted 10.36% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. Furthermore, not less than 18% of the Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Issue was available for allocation on a proportionate basis to Retail Individual Bidders. Further, not less than 2% of the Issue was available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids having been received from them at or above the Issue Price, in the Employee Portion. Under-subscription, if any, in any category except the QIB Portion, was allowed to be met with spill-over from any other category or combination of categories at the discretion of the Company in consultation with the BRLMs and the Designated Stock Exchange. The Issue received 43387 applications for 481615430 IDRs resulting in the Issue having a 2.01 times subscription level. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors, Eligible Employees and Anchor Investors are as under: (Before technical rejections)
* A discount of Rs. 5.20 being 5% to the Issue Price has been offered to Retail Individual Investors and Eligible Employees whose Bid Amount did not exceed Rs. 100,000.
A sample of the final demand at different bid prices is as follows:
The Basis of Allotment was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on June 7, 2010.
A. Eligible Employees
The Basis of Allotment to the Eligible Employees, who have bid at cut-off or above the Issue Price of Rs.104/- per IDR was finalized in consultation with BSE (5% discount on the Issue Price was given to the Eligible Employees and hence the Issue Price for this category is Rs. 98.80 per IDR). The total number of IDRs allotted in this category is 873,400. The undersubscribed portion of 3,926,600 IDRs have been spilled over to QIBs, Non-Institutional Bidders and Retail Individual Investor Category in the ratio of 25:9:15 respectively.
B. Allotment to Retail Individual Investors (After Technical Rejections) (Including ASBA Applications)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or above the Issue Price of Rs.104/- per IDR, was finalized in consultation with BSE (5% discount on the Issue Price was given to the retail individual investors and hence the offer price for this category is Rs.98.80 per IDR). This category has been subscribed to the extent of 0.22 times and hence allotment was done on full and firm basis to all valid applicants. There were 8636 applications for 3,420,400 IDRs made under ASBA process. 8,225 applications for 3,284,400 IDRs were found valid and they were considered for allotment on full and firm basis. The total number of IDRs subscribed and allotted in Retail Individual Investor category is 16,819,400 IDRs which were allotted to 38906 successful applicants. The unsubscribed portion of 56,382,620 IDRs have been added to QIB and Non Institutional Category in the ratio of 25:9.
C. Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at cut-off or at the Issue Price of Rs.104/- per IDR, was finalised in consultation with BSE. This category has been over-subscribed by 1.30 times. 481 applications for 76,565,000 IDRs were found valid and they were considered for allotment. The total number of IDRs allotted in this category was 58,846,023 (including 721,212 IDRs being 9/49 portion of the unsubscribed portion of employee reservation and 14,924,811 IDRs being 9/34 portion of the unsubscribed portion of Retail Individual Investors) to 481 successful applicants.
D. Allotment to QIBs
2,003,368 IDRs being 25/49 portion of the unsubscribed portion of employee reservation and 41,457,809 IDRs being 25/34 portion of the unsubscribed portion of Retail Individual Investors were added to the QIB category. Allotment to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of IDRs available i.e. 4,200,000 and the remaining available IDRs i.e. 79,800,000.
E. Anchor Investors
The Company allotted 36,000,000 IDRs to 16 Anchor Investors in consultation with the
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 or prior to June 9, 2010.Further, the instructions to Self Certified Syndicate banks have been dispatched on or prior to June 9, 2010. In case the same is 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 IDRs allotted to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned.
Commencement of Trading: The IDRs are expected to be admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on June 11, 2010 subject to receipt of necessary approvals.
INVESTORS PLEASE NOTE
These details of the allotment made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrars to the issue quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of IDRs bid for, name of the Member of the Syndicate and 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 IDRs ON LISTING OR THE BUSINESS PROSPECTS OF STANDARD CHARTERED PLC.