Indian Overseas Bank
Constituted under the Banking Companies (Acquisition & Transfer of
Undertakings) Act, 1970
Central Office : 763, Anna salai, Chennai 600 002, Phone : 28415702, Fax: 28523372.
Public Issue of 10,00,00,000 equity shares of Rs. 10/- each for cash at
a premium of Rs. 14/- (ie at a price of Rs 24/- per share) aggregating Rs 240
Basis of Allotment
The board of Direftors thank the investing public for their encouraging response to the
public issue which opened for subscriptrion on 5.09.2003 and closed on 12.09.2003.
The Public Issue has received 4,26,048 valid applications for 55,05,60,500 equity shares
from the indian public resulting in 6.88 times subscription for the net public
offer. It has received 16,772 valid applications for 1,00,18,700 equity shares from
the employees resulting in 1.002 times subscription in the employees category. It
has received 2,881 valid applications for 2,08,46,700 equity shares from the
NRIs/OCBs/FIIs resulting in 2.08 times subscription in this category. The Basis of
Allotment was finalised in consultation with The Stock Exchange, Mumbai on 3.10.2003 and
10,00,00,000 equity shares have been allotted by the Share Allotment Committee of
directors in the meeting held on 7.10.2003.
There are 28.58 allottees for every Rs 1 lakh of the Public Issue (Including Employees
The net offer of 8,00,00,000 Equity Shares was made to the Indian Public. The Bank
has received 4,26,048 valid applications for a total of 55,05,60,500 equity shares
resulting in 6.88 times of over subscription.
1. Individual investors who have aplied for not more than Rs. 50,000/- worth of
shares ie upto 2000 shares : (Retail Investors)
The Bank has received 4,17,162 valid applications for 21,21,87,200 shares in this category
resulting in 5.30 times subscription. The details of category-wise allotment are
|600 to 2000
||Shares have been allotted on a firm basis in proportion to the
inverse of the subscription ration ie 5.30 times and rounded off to the nearest marketable
lot of 100 shares.
2. Indivudual investors who have applied for more than Rs. 50,000/- worth of
shares (ie more than 2000 shares), corporate bodies & institutions.
The Bank has received 8,886 valid applications for 33,83,73,300 shares resulting in
8.75 times subscription in this category,. Shares have been allotted on a firm basis in
proportion to the inverse of the subscription ratio ie 8.75 times and rounded off to the
nearest marketable lot of 100 shares.
The bank has received 16,772 valid applications for 1,00,18,700 shares resulting
in 1.002 times subscription in this category.
For the applicatiions upto 2000 shares, full and firm allotment has been made.
For applications over 2000 shares shares have been allotted on a firm basis and in
proportion of inverse of the subscription ratio ie 1.002 times and rounded off to the
market lot of 100 shares.
The bank has received 2,881 valud applications for 2,08,46,700 shares resulting
in 2.08 times subscription.
Shares have been allotted on a firm basis in proportion of inverse of the subscription
ratio ie 2.08 times and rounded off to the nearest marketable lot of 100 shares. In
respect of two below mentioned categories, there were draws of lot.
* Additional Shares in these categories have been allotted on the basis of draw of lots
In the interest of investing public, we furnish below the break up of the applications and
the allotees who have lodged application through cash/cheque/dd and through stockinvest.
|Mode of Payment
||Details of Subscription
||Details of Allotment
|No of applns recd
||No. of shares applied
||No. of allottees
||No. of shares allotted
Share certificates/Refund orders/cancelled stock invests, wherever applicable, have
already been despatched on 9.10,2003 and in case of shares in the electronic form, the
beneficiary account of allottees with CDSL have been credited on 13.10.2003 and with NSDL
on 14,10.2003 and listing applications have been filed with the The Stock Exchange,
Mumbai, The National Stock Exchange Limited and The Madras Stock Exchange Limited on
All future correspondence in this respect should be addressed to Registrars to issue at
their below mentioned address by mentioning full name of first applicant, applicant,
Application No., No. of Shares applied and bank Branch where the Application had been
|Cameo Corporate Service Limited
Unit: IOB Equity
'Subramanian Building', V floor, No. 1
Club House Road, Chennai 600 002
Phone : 28460390, Fax: 044-28460129
Email : firstname.lastname@example.org
|Place : Chennai
Date : 15.10.2003
By order of the Board
For Indian Overseas Bank
Chairman & Managing Director