|Basis of Allotment|
(This is only an advertisement for information purpose not for publication or distribution, directly or indirectly outside India, and not a prospectus announcement)
TATA STEEL LIMITED
(Originally incorporated on August 26,1907 under the Indian Companies
Act, 1882 as' The Tata Iran and Steel Company Limited',; the name of the Company was
changed into 'Tata Steel Limited' with effect from August 12 2005) for the detail on
change in the name of company,see the section-'History and certain Corporate Matters'
beginning on page 96 of the prospectus.. Registered office:Bombay House,24,Homi Modi
Street,Fort, Mumbai -400001 Tel:(9122) 66657279,FAX: (9122) 66657724 E-mail: :firstname.lastname@example.org
FURTHER PUBLIC ISSUE OF 57,000,000 EQUITY SHARES OF FACE VALUE RS.10EACH
("EQUITY SHARES") FOR CASH ATA PRICE OF RS.610 PER EQUITY SHARE OF TATA STEEL
LIMITED ("TATA STEELOR "THE COMPANY°) AGGREGATING TO RS. 34,770 MILLION
(THE"ISSUE").THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 55,500,000 EQUITY
SHARES ("THE NET ISSUE") AND A RESERVATION OF 1,500,000 EQUITY SHARES FOR
SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE"EMPLOYEE RESERVATION PORTION").THE ISSUE
WOULD CONSTITUTE5.94% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY AND
THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE5.79% OF THE POST-ISSUE PAID-UP EQUITY SHARE
CAPITAL OF THE COMPANY.
This Issue has been made through the Book Building Process where not more than 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion") provided that the Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion^, out of which at least one-third will be available for Allotment to domestic Mutual Funds only. For details, see the section "Issue Procedure" beginning on page 249 of the Prospectus. Further, 5% of the QIB Portion, excluding the Anchor Investor Portion, will be available for Allotment on a proportionate basis to Mutual Funds only. The remainder will be available for Allotment on a proportionate basis to QIBsincluding Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. In addition, not less than 15% of the Net Issue will be available for Allotment on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue will be available for Allotment on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price. Any Bidder (other than Anchor Investors) may participate in this Issue through the ASBA process by providing the details of their ASBA Accounts in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks ("SCSBs"). For more information, specific attention is invited to the section "Issue Procedure" beginning on page 249 of the Prospectus.
The Company has allocated 8,325,000 Equity Shares of the QIB Portion to 33 Anchor Investors in consultation with the BRLMs on a discretionary basis.
The issue received 187,035 applications for 292,957,150 Equity Shares (including applications received through ASBA) resulting in 6.02 times subscription excluding Anchor Investor Portion. The details of the applications received in the Issue from Retail Individual Bidders, Non-Institutional Bidders, Qualified Institutional Buyers (excluding Anchor Investors), Eligbile Employees and Anchor Investor categories are as under: (After technical rejections)
The final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with the BSE on January 29,2011.
A. Allotment to Eligible Employees (After Technical Rejections)
The Basis of Allotment to the Eligible Employees, who have bid at cut-off or at the Issue Price of Rs. 610 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.06 times resulting in a spill over to QIBs (Mutual Funds - 35,205 Equity Shares and Other QIBs 668,900 Equity Shares), Retail Individual Bidders (492,874 Equity Shares), and Non Institutional Bidders (211,231-Equity Shares) in the ratio of 50:35:15 respectively. The total number of Equity Shares allotted in this category is 91,790 Equity Shares to 680 successful applicants. All bidders in this category received firm and full allotment.
B Allotment to Retail Individual Investors (After Technical Rejection's)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 610 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.52 times. The total number of Equity Shares allotted In Retail Individual Investor category is 19,917,874 Equity Shares to 181,496 successful applicants. The categorv-wise details of the Basis of Allotment are as under:
C Alloiment to Non Institutional investors (AfterTechnical Rejections)
The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 610 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 7.01 times. The total number of Equity Shares allotted in this category is 8,536,231 Equity Shares to 475 successful applicants. The categorv-wise details of the Basis of Allotment are (Sample) under:
D. Allotment to QIBs (excluding Anchor Investors)
Allotment to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, Mutual Funds were initially allocated 1,006,455 Equity Shares being 5% of the quantum of Equity Shares available. This category has been over subscribed to the extent of 10.07 times. The total number of Equity Shares allotted in this category is 20,129,105 Equity Shares to 169 successful applicants. The category-wise details of the Basis nf Allotmentl are as under
E. Allotment to Anchor Investors
Allotment to Anchor Investors has been done by the Company on a discretionary basis in consultation with BRLMs. As per the SEBI regulations, upto 30% of QIB Portion (8,325,000 Equity Shares) was allotted to Anchor Investors of which one third was allocated to domestic Mutual Funds.
The "Committee of Directors" of the Company at its meeting held on January 29,2011 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange viz., BSE and has authorized the allotment of the Equity Shares to successful applicants..
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched on January 31,2011 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 over-printed with the Bank Account details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants shall be credited to their beneficiary accounts on February 01,2011 subject to validation of the account details with the depositories concerned.
INVESTORS PLEASE NOTE
The details of the Allotment made would be hosted on the website of Registrars to the Issue, Link Intime India Private Limited at their website: www.linkintime.co.in
INVESTORS CAN GET STATUS OF THE APPLICATION ON SMS (Rs. 31- per SMS)
SMS LIIPL (space) TSL (space) PAN TO 56161
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 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:
LINK INTIME Link Intime India Private Limited
THE LEVELOF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING ORTHE BUSINESS PROSPECTS OF TATA STEEL LIMITED.
The equity shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws In the United States and may not be offered or sold within the United States except pursuant to an exemption from or in a transaction not subject to, registration requirements of the US Securities Act and in accordance with any applicable US state securities laws. Accordingly, the equity shares are being offered and sold (i) In the United States only to "Qualified Institutional buyers" (as defined In Rule 144A under the U.S. Securities Act ("Rule 144A") and referred to in the Red Herring Prospectus as "U.S. QIBs"), in reliance on the exemption from registration under the U.S. Securities Act provided by Rule 144 A or other available exemption and (ii)outside the United States only in compliance with Regulation S under the US Securities Act and the applicable laws of each jurisdiction where such offers and sales occur.