OIL INDIA LIMITED
(Our Company was incorporated on February 18,1959 under the
Companies Act, 1956 ("Companies Art") as a private limited company.The Name of
our Company was changed from Oil india Private Limited to Oil india Limited with effect
From May 4,1661).
Registered Office: P.O. Duliajan, District Dibrugarh, Assam 786 602, India.
Corporate Office: OIL House, Plot Number 19, Sector 16A, Noida, District
Gautam Budh Nagar, Uttar Pradesh 201301, India, www.oil-india.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 26,449,982 EQUITY SHARES OF RS.10 EACH ("EQUITY SHARES") FOR
CASH AT A PRICE OF RS.1,050 PER EQUITY SHARE OF OIL INDIA LIMITED ("THE
COMPANY") AGGREGATING RS. 27,772.48 MILLION ("ISSUE"). THE ISSUE COMPRISES
A NET ISSUE TO THE PUBLIC OF 24,045,438 EQUITY SHARES ("NET ISSUE") AND A
RESERVATION OF 2,404,544 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES
("EMPLOYEE RESERVATION PORTION"), AT THE ISSUE PRICE. THE ISSUE SHALL CONSTITUTE
11% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY.
Capitalized terms used but not defined herein shall have the meaning assigned to them
in the Company's Prospectus dated September 15,2009 (the "Prospectus")
THE FACE VALUE PER EQUITY SHARE IS RS.10 THE ISSUE PRICE PER EQUITY SHARE IS
RS.1,050/- AND IT IS 105 TIMES THE FACE VALUE.
In terms of Rule 19 (2) (b) of the SCRR, this being an Issue for less than 25% of the
post Issue capital of the Company, the Issue is made through the 100% Book Building
Process wherein at least 60% of the net Issue was to be allocated on a proportionate basis
to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that
was to be specifically allotted to mutual funds), further, up to 10% of the Issue shall be
available for allocation on a proportionate basis to Non-Institutional Bidders and up to
30% of the Issue shall be available for allocation on a proportionate basis to Retail
Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 238,901 applications for 817,438,404 Equity Shares resulting in
30.90 times subscription. The details of the applications received in the Issue from QIBs,
Non-Institutional and Retail Individual Investors categories and Employees are as under: (Before
technical rejections)
|
Category |
No. of
Applications |
No. of Equity
Shares |
No. of times
subscription |
| A |
Retail Individual Bidders |
232,983 |
12,344,201 |
1.71 |
| B |
Non Institutional Bidders |
1,560 |
24,020,781 |
9.99 |
| C |
Qualified Institutional Bidders |
472 |
780,394,824 |
54.09 |
| D |
Employees |
3,886 |
678,598 |
0.28 |
|
Total |
238,901 |
817,438,404 |
30.90 |
Final Demand
Asummary of the final demand at different bid prices is as under:
| Bid Price |
No. of
Equity Shares |
% to total |
Cumulative
Total |
Cumulative%
of Total |
| 950 |
1,655,178 |
0.20 |
815,054,316 |
100.00 |
| 951 |
750 |
0.00 |
813,399,138 |
99.80 |
| 952 |
204 |
0.00 |
813,398,388 |
99.80 |
| 953 |
6 |
0.00 |
813,398,184 |
99.80 |
| 954 |
126 |
0.00 |
813,398,178 |
99.80 |
| 955 |
396 |
0.00 |
813,398,052 |
99.80 |
| 956 |
6 |
0.00 |
813,397,656 |
99.80 |
| 959 |
144 |
0.00 |
813,397,650 |
99.80 |
| 960 |
2,322 |
0.00 |
813,397,506 |
99.80 |
| 961 |
114 |
0.00 |
813,395,184 |
99.80 |
| 962 |
204 |
0.00 |
813,395,070 |
99.80 |
| 963 |
114 |
0.00 |
813,394,866 |
99.80 |
| 965 |
498 |
0.00 |
813,394,752 |
99.80 |
| 966 |
6 |
0.00 |
813,394,254 |
99.80 |
| 968 |
24 |
0.00 |
813,394,248 |
99.80 |
| 969 |
12 |
0.00 |
813,394,224 |
99.80 |
| 970 |
1,008 |
0.00 |
813,394,212 |
99.80 |
| 972 |
6 |
0.00 |
813,393,204 |
99.80 |
| 975 |
5,370 |
0.00 |
813,393,198 |
99.80 |
| 978 |
66 |
0.00 |
813,387,828 |
99.80 |
| 980 |
4,950 |
0.00 |
813,387,762 |
99.80 |
| 984 |
378 |
0.00 |
813,382,812 |
99.79 |
| 985 |
90 |
0.00 |
813,382,434 |
99.79 |
| 987 |
6 |
0.00 |
813,382,344 |
99.79 |
| 990 |
474 |
0.00 |
813,382,338 |
99.79 |
| 991 |
42 |
0.00 |
813,381,864 |
99.79 |
| 995 |
96 |
0.00 |
813,381,822 |
99.79 |
| 997 |
96 |
0.00 |
813,381,726 |
99.79 |
| 999 |
510 |
0.00 |
813,381,630 |
99.79 |
| 1,000 |
1,665,096 |
0.20 |
813,381,120 |
99.79 |
| 1,001 |
246 |
0.00 |
811,716,024 |
99.59 |
| 1,002 |
192 |
0.00 |
811,715,778 |
99.59 |
| 1,004 |
96 |
0.00 |
811,715,586 |
99.59 |
| 1,005 |
66 |
0.00 |
811,715,490 |
99.59 |
| 1,006 |
30 |
0.00 |
811,715,424 |
99.59 |
| 1,009 |
72 |
0.00 |
811,715,394 |
99.59 |
| 1,010 |
444 |
0.00 |
811,715,322 |
99.59 |
| 1,011 |
504 |
0.00 |
811,714,878 |
99.59 |
| 1,012 |
12 |
0.00 |
811,714,374 |
99.59 |
| 1,014 |
54 |
0.00 |
811,714,362 |
99.59 |
| 1,015 |
54 |
0.00 |
811,714,308 |
99.59 |
| 1,016 |
12 |
0.00 |
811,714,254 |
99.59 |
| 1,020 |
882 |
0.00 |
811,714,242 |
99.59 |
| 1,022 |
126 |
0.00 |
811,713,360 |
99.59 |
| 1,025 |
7,254 |
0.00 |
811,713,234 |
99.59 |
| 1,026 |
312 |
0.00 |
811,705,980 |
99.59 |
| 1,027 |
30 |
0.00 |
811,705,668 |
99.59 |
| 1,029 |
6 |
0.00 |
811,705,638 |
99.59 |
| 1,030 |
306 |
0.00 |
811,705,632 |
99.59 |
| 1,031 |
6 |
0.00 |
811,705,326 |
99.59 |
| 1,033 |
6 |
0.00 |
811,705,320 |
99.59 |
| 1,035 |
30 |
0.00 |
811,705,314 |
99.59 |
| 1,038 |
12 |
0.00 |
811,705,284 |
99.59 |
| 1,039 |
24 |
0.00 |
811,705,272 |
99.59 |
| 1,040 |
2,940 |
0.00 |
811,705,248 |
99.59 |
| 1,041 |
1,740 |
0.00 |
811,702,308 |
99.59 |
| 1,043 |
12 |
0.00 |
811,700,568 |
99.59 |
| 1,045 |
234 |
0.00 |
811,700,556 |
99.59 |
| 1,049 |
54 |
0.00 |
811,700,322 |
99.59 |
| 1,050 |
811,700,268 |
99.59 |
811,700,268 |
99.59 |
The Basis of Allocation was finalized in consultation with the National Stock Exchange
of India Limited ("NSE") on September22,2009.
A. Eligible Employees (After Technical Rejections)
The Basis of Allocation to the Eligible Employees of the Company, who have bid at cut-off
where applicable or at the Issue Price of Rs. 1,050/- per Equity Share, was finalized in
consultation with NSE. The total number of Equity Shares Allotted in this category is
637,872. The undersubscribed portion of 1,766,672 Equity Shares has been spilled over to
QIB, Non-Institutional and Retail Individual lnvestorCategories in the ratio of 60:10:30.
B. Allocation to Retail Individual Investors (After Technical Rejections) (Including
ASBA Applications)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at
the Issue Price of Rs.1,050 per Equity Share, was finalized in consultation with NSE. This
category has been over-subscribed to the extent of 1.57 times. Overall 2,27,681
applications for 12,147,522 Equity Shares were found valid and they were considered for
Allotment. The above includes 41,442 valid applications for 1,911,120 equity shares made
under the ASBA process. The total number of shares allotted in Retail Individual Investor
category is 7,743,633 Equity Shares (including spill over of 530,002 equity shares being
30% of the unsubscribed portion of the employee reservation) to 22,5133 applicants. The
category-wise details of the Basis of Allocation are as under:
| Category |
No. of Applications |
% to total |
Total No. of Equity Shares applied |
% to total |
No. of Equity Shares allocated |
Ratio |
Total No. of Equity Shares allocated |
| 6 |
23,777 |
10.44 |
142,662 |
1.17 |
6 |
25:28 |
127,374 |
| 12 |
24,052 |
10.56 |
288,624 |
2.38 |
8 |
FIRM |
192,416 |
| 18 |
16,170 |
7.10 |
291,060 |
2.40 |
11 |
FIRM |
177,870 |
| 24 |
14,205 |
6.24 |
340,920 |
2.81 |
15 |
FIRM |
213,075 |
| 30 |
12,735 |
5.59 |
382,050 |
3.15 |
19 |
FIRM |
241,965 |
| 36 |
5,634 |
2.47 |
202,824 |
1.67 |
23 |
FIRM |
129,582 |
| 42 |
9,469 |
4.16 |
397,698 |
3.27 |
27 |
FIRM |
255,663 |
| 48 |
9,960 |
4.37 |
478,080 |
3.94 |
31 |
FIRM |
308,760 |
| 54 |
2,838 |
1.25 |
153,252 |
1.26 |
34 |
FIRM |
96,492 |
|
Additional |
|
|
1 |
4:73 |
156 |
| 60 |
7,522 |
3.30 |
451,320 |
3.72 |
38 |
FIRM |
285,836 |
| 66 |
2,038 |
0.90 |
134,508 |
1.11 |
42 |
FIRM |
85,596 |
| 72 |
1,990 |
0.87 |
143,280 |
1.18 |
46 |
FIRM |
91,540 |
| 78 |
806 |
0.35 |
62,868 |
0.52 |
50 |
FIRM |
40,300 |
| 84 |
879 |
0.39 |
73,836 |
0.61 |
54 |
FIRM |
47,466 |
| 90 |
95,606 |
41.99 |
8,604,540 |
70.83 |
57 |
FIRM |
5,449,542 |
C. Allocation to the Non-Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at
the Issue Price of Rs. 1,050/- per Equity Share, was finalized in consultation with NSE.
This category has been over-subscribed to the extent of 9.07 times. Overall 1,008
applications for 23,419,428 equity shares were found valid and they were considered for
allotment. The total number of equity shares allotted in this category is 2,581,211
(including spill over of 176,667 equity shares being 10% of the unsubscribed portion of
the employee reservation) to 1,008 applicants. The category-wise details of the Basis of
Allocation (sample) are as under:
| Category |
No. of
Applications |
% to
total |
Total No.
of Equity
Shares applied |
% to
total |
No. of
Equity
Shares allocated |
Ratio |
Total No.
of Equity
Shares allocated |
| 96 |
83 |
8.23 |
7,968 |
0.03 |
11 |
FIRM |
913 |
| 246 |
1 |
0.10 |
246 |
0.00 |
27 |
FIRM |
27 |
| 570 |
2 |
0.20 |
1,140 |
0.00 |
63 |
FIRM |
126 |
| 2004 |
4 |
040 |
8,016 |
0.03 |
221 |
FIRM |
884 |
| 5040 |
3 |
0.30 |
15,120 |
0.06 |
555 |
FIRM |
1,665 |
| 10020 |
2 |
0.20 |
20,040 |
0.09 |
1,105 |
FIRM |
2,210 |
| 19998 |
2 |
0.20 |
39,996 |
0.17 |
2,204 |
FIRM |
4,408 |
| 60000 |
1 |
0.10 |
60,000 |
0.26 |
6,613 |
FIRM |
6,613 |
| 100002 |
1 |
0.10 |
100,002 |
0.43 |
11,022 |
FIRM |
11,022 |
| 1047618 |
1 |
0.10 |
1,047,618 |
4.47 |
115,451 |
FIRM |
115,451 |
| 1178148 |
1 |
0.10 |
1,178,148 |
5.03 |
129,838 |
FIRM |
129,838 |
| 1904760 |
1 |
0.10 |
1,904,760 |
8.13 |
209,912 |
FIRM |
209,912 |
| 2142858 |
1 |
0.10 |
2,142,858 |
9.15 |
236,151 |
FIRM |
236,151 |
D. Allocation to QIBs (After Technical Rejections)
The Basis of Allocation to the Qualified Institutional Investors, who have bid at the
Issue Price of Rs. 1,050/- per Equity Share, was finalized in consultation with NSE.
Overall 469 applications for 877,663,389 equity shares were found valid and they were
considered for allotment. 1,060,003 Equity Shares being 60% of the unsubscribed portion of
the employee reservation were added to the QIB category. Allocation to QIBs has been done
on a proportionate basis in consultation with NSE. Mutual Funds were initially Allotted 5%
of the quantum of shares available i.e. 774,363 and other QIBs and balance demand of
Mutual Funds were Allotted the remaining available shares i.e. 14,712,903.
| Category |
Fls/Banks |
Flls |
MFs |
ICs |
VCs |
Others |
Total |
| No. of Equity Shares |
1,468,687 |
9,085,517 |
2,741,646 |
2,187,578 |
2,751 |
10,963,803 |
26,449,982 |
The Board of Directors of the Company at it's meeting held at Hyderabad on September
23,2009 has approved the basis of allocation of Equity Shares of the Issue and has
Allotted 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. In case the same is not
received within ten days, investors may contact at the address given below. The Refund
Orders have been overprinted with the BankAccount 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 and National Stock Exchange of India Limited
within seven working days from the date of approval of the basis of Allocation i.e., on or
before October 3,2009. ISIN Number is INE274J01014.
INVESTORS PLEASE NOTE
These details of the Allocation made would be hosted on the website of Registrar to the
Issue, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondences 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 Equity 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
Unit: OIL INDIA LIMITED
Plot No. 17 to 24, Vithlarao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814 Email: einward.ris@karvy.com
TOLL FREE - HELPLINE NUMBER 1-800-3454001
Place: Assam
Date : 28.09.2009 |
For Oil India Limited
Sd/-
S.R.Krishnan
Company Secretary |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUTY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF OIL INDIA LIMITED |