Offer for sale by Government of India in Maruti
Udyog Limited
(The Company was originally incorporated as a Private Limited
(Government company) on February 24, 1981 under the Companies Act, 1956 and subsequently
became a deemed public company under Section 43 A (1) of the Act on January 24, 1983.
Further the Company has become a public company with effect from May 30, 2002)
Registered Office: 11th Floor, Jeevan Prakash Building,
25 Kasturba Gandhi Marg, New Delhi - 110 001
Tel No, : +91-11-2331 6831; Fax No.: +91-11-2371-3575/23318754; E-mail: investors@maruti.co.in; Website: www.marutiudyog.com
Offer for sale by the Government of India of 72,243,300 equity shares of Rs 5 each at a
price of Rs. 125 for cash aggregating Rs 9030.41 million, which stands enhanced to
79,467,600 equity shares of Rs 5 each at a price of Rs 125 for cash aggregating Rs 9933.45
million, after the Government of India has exercised the option to retain
over-subscription of 7,244,300 equity shared os Rs 5 each (hereinafter referred to as the
"Offer").
The Offer was made through the 100% book building process wherein upto 40% of the Offer
was allocated on a discretionary basis to Qualified Institutional Buyers. Further,
not less than 15% of the Offer was allocated on a proportionate basis to Non-institutional
bidders and remaining 45% of the Offer was allocated on a proportionate basis to Retail
Bidders.
BASIS OF ALLOCATION
The company received 250,795 valid bids for 708,543,500 equity shared resulting in 8.92
times oversubscription. The valid demand (considering highest value bid in case of
multiple bids) from institutional, Non institutional and Retail Bidder categories was as
under:
| Category |
No. of valid Bids |
No. of Shares Bid |
Subscription (Times) |
| Institutional Investors |
357 |
446,941,800 |
14.06 |
| Non Institutional Investors |
3,336 |
170,896,400 |
14.34 |
| Retail Investors |
247,102 |
90,705,300 |
2.54 |
FINAL DEMAND
A sample of the final demand at different bid prices is as under :
Bid Price
(Rs. per share) |
No. of Shares |
% to Total |
Cumulative Shares |
Cumulative % |
| 501 |
200 |
0.000% |
200 |
0.000% |
| 400 |
900 |
0.000% |
2,200 |
0.000% |
| 250 |
3,400 |
0.000% |
10,000 |
0.001% |
| 200 |
30,500 |
0.003% |
56,600 |
0.006% |
| 150 |
363,000 |
0.037% |
664,000 |
0.068% |
| 140 |
646,200 |
0.066% |
1,502,300 |
0.153% |
| 135 |
2,286,400 |
0.233% |
4,051,000 |
0.413% |
| 130 |
31,063,400 |
3.168% |
35,980,600 |
3.670% |
| 125* |
670,889,600 |
68.421% |
717,458,300 |
73.171% |
| 120 |
152,868,000 |
15.590% |
902,425,700 |
92.005% |
| 115 |
73,783,500 |
7.525% |
980,527,200 |
100.000% |
* Includes Bids received at Cut-off price
A) Allocation to Non-Institutional Bidders :
The Basis of Allocation to the Bidders who bid for at or above the Issue Price of Rs 125
per Equity Share, was finalized in consultation with the Stock Exchange, Mumbai, on a
proportionate basis after rounding off to the nearest 50 shared. The total number of
shared allocated in this category is 11,920,200. A sample of category wise details of the
Basis of Allocation is as under:
| Category |
No. of
Applications |
% of
Applications |
No. of Shares Applied |
% of Bid |
No. of Shares Allocated |
Ratio |
Total
Shares
Allocated |
| 1,100 |
222 |
6.65% |
2,44,200 |
0.14% |
100 |
Firm |
22,200 |
| 1,500 |
64 |
1.92% |
96,000 |
0.06% |
100 |
Firm |
6,400 |
| 2,000 |
181 |
5.43% |
3,62,000 |
0.21% |
150 |
Firm |
27,150 |
| 3,000 |
93 |
2.79% |
2,79,000 |
0.16% |
200 |
Firm |
18,600 |
| 5,000 |
130 |
3.90% |
6,50,000 |
0.38% |
350 |
Firm |
45,500 |
| 10,000 |
89 |
2.67% |
8,90,000 |
0.52% |
700 |
Firm |
62,300 |
| 20,000 |
41 |
1.23% |
8,20,000 |
0.48% |
1,400 |
Firm |
57,400 |
| 50,000 |
14 |
0.42% |
7,00,000 |
0.41% |
3,500 |
Firm |
49,000 |
| 1,00,000 |
45 |
1.35% |
45,00,000 |
2.63% |
7,000 |
Firm |
3,15,000 |
| 10,00,000 |
3 |
0.09% |
30,00,000 |
1.76% |
69,750 |
Firm |
2,09,250 |
| 40,00,000 |
1 |
0.03% |
40,00,000 |
2.34% |
2,77,000 |
Firm |
2,77,000 |
| 1,08,36,500 |
1 |
0.03% |
1,08,36,500 |
6.34% |
7,52,850 |
Firm |
7,52,850 |
B) Allocation to Retail Bidders :
The basis of Allocation to the Bidders who bid for at or above the issue price of Rs
125 per Equity Share, was finalized in consultation with the Stock Exchange, Mumbai, on a
proportionate basis after rounding off to the nearest 50 shares. The total number of
shares allocated in this category is 35,760,500. A sample of category wise details of the
Basis of Allocation is as under:
| Category |
No. of
Applications |
% of
Applications |
No. of Shares Applied |
% of Bid |
No. of Shares Allocated |
Ratio |
Total
Shares
Allocated |
| 100 |
92,732 |
37.53% |
92,73,200 |
10.22% |
50 |
Firm |
46,36,600 |
| 200 |
47,421 |
19.19% |
94,84,200 |
10.46% |
100 |
Firm |
47,42,100 |
| 300 |
19,618 |
7.94% |
58,85,400 |
6.49% |
100 |
Firm |
19,61,800 |
| 400 |
21,496 |
8.70% |
85,98,400 |
9.48% |
150 |
Firm |
32,24,400 |
| 500 |
11,829 |
4.79% |
59,14,500 |
6.52% |
200 |
Firm |
23,65,800 |
| 600 |
3,339 |
1.35% |
20,03,400 |
2.21% |
250 |
Firm |
8,34,750 |
| 700 |
1,515 |
0.61% |
10,60,500 |
1.17% |
300 |
Firm |
4,54,500 |
| 800 |
2,020 |
0.82% |
16,16,000 |
1.78% |
300 |
Firm |
6,06,000 |
| 900 |
2,623 |
1.06% |
23,60,700 |
2.60% |
350 |
Firm |
9,18,050 |
| 1000 |
44,509 |
18.01% |
4,45,09,000 |
49.07% |
350 |
Firm |
1,60,16,500 |
| |
|
|
|
|
50 |
13:66 |
|
C) Allocation to QIB Bidders :
| Category |
Fls/Banks |
MFs |
Flls |
Total |
| No. of Shares Allocated |
874,400 |
8,589,600 |
22,322,900 |
31,786,900 |
Place : New Delhi
Date : July 4, 2003
|
Sd/-
Jagdish Khattar
For Maruti Udyog Limited
Managing Director |
* The level of subscription should not be taken to be the
indicative of either the market price of Equity Shares on listing or the business
prospects of the company.
Ministry of Disinvestment, Government of India |
|