|Basis of Allotment|
Jindal Poly Films Limited
(The company was incorporated on September 9, 1974 under the Companies
Act as Hindustan Pipe Udyog Limited. On April 10, 1992, the name of the company was
changed to Jindal Polyester and Steel Limited. Subsequently, the name of the company was
changed to Jindal Polyester Limited on January 17, 1995 and thereafter, to Jindal Poly
Films Limited on April 19, 2004.)
Corporate Office: 56-Hanuman Road New Delhi-110 001 Tel: +91 11 2334 9270-74
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 8,333,325 EQUITY SHARES OF RS. 10 EACH ("EQUITY SHARES") OF JINDAL POLY FILMS LIMITED (THE "COMPANY"), AT A PRICE OF RS. 360 PER EQUITY SHARE FOR CASH AGGREGATING UPTO RS. 3,000 MILLION (THE "ISSUE"). THE ISSUE WOULD CONSTITUTE 29.66% OF THE FULLY DILUTED POST-ISSUE PAID-UP CAPITAL OF THE COMPANY.
THE ISSUE PRICE OF RS. 360 PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH IS 36 TIMES THE FACE VALUE
The Issue was made through the 100% Book Building Process wherein upto 50% of the Issue was to be allocated on a discretionary basis to Qualified Institutional Buyers. Further, at least 15% of the Issue was to be available for allocation on a proportionate basis to Non-Institutional Bidders and at least 35% of the Issue was to be made available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. However, subsequent to the Book Building Process, the Company allocated 45% of the Issue on a discretionary basis to Qualified Institutional Bidders. Consequently, 15% of the Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and 40% of the Issue was made available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
The Board of Directors of Jindal Poly Films Limited wish to thank the investing public, for their response to the Issue which opened for subscription on Thursday, June 9, 2005 and closed on Wednesday, June 15, 2005. The Issue has received 86,776 applications fro 23,127,316 Equity Shares resulting in 2.7753 times subscription. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - The Stock Exchange, Mumbai ("BSE") on Monday, June 27, 2005. The details of the subscription received in the Issue from Institutional, Non-Institutional and Retail categories (before technical rejections) are as under:
*After emliminating cheque returns.
A)ALLOTMENT TO RETAIL INDIVIDUAL BIDDERS
B)ALLOTMENT TO NON-INSTITUTIONAL BIDDERS
C)ALLOTMENT TO QUALIFIED INSTITUTIONAL BUYERS
The Committee of Directors of Jindal Poly Films Limited vide resolution dated June 27, 2005 has approved the basis of allotment of shares as above and the shares to various successful applicants have been allotted accordingly.
The CAN-cum-refund orders in respect of refunds due to applicants will be dispatched to the address of the investors as registered with the depositories. The refund orders will be printed with the Bank Mandate details as registerd, if any, with the validation of the account details with the depositories concerned. The credit of Equity Shares into the respective depository accounts of investors and dispatch of CAN-cum-refund orders is expected to take place on June 29,2005. The Company is taking steps to get the Equity Shares admitted for trading on The Stock Exchange, Mumbai (BSE) and National Stock Exchange of India Limited(NSE) within seven working days from the date approval of basis of allotment.
INVESTORS PLEASE NOTE
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting 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:
KARVY COMPUTERSHARE PRIVATE LIMITED
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO TBE INDICATIVE OF EITHER THE MARKET PRICE OF EQUITY SHARE ON LISTING OR THE PROSPECTUS OF JINDAL POLY FILMS LIMITED