Offer
for Sale by the President of India
Acting through and represented by the Director, Ministry of Petroleum and Natural
Gas, Government of India (the "Selling Shareholder") of equity shares in
Oil and Natural Gas Corporation Limited
Registered Office: Jeavan Bharati Tower 11, 124, Indira Chowk, New Delhi - 110
001.
Tel.: +91-11-2330 1000, Fax: +91-1l-2331 6413. Website: www.ongcindia.com, e-mail: ongcoffer@ongc.net
Offer for Sale by the Selling Shareholder of up to
142,593,300 equity shares of Rs. 10 each of Oil and Natural Gas Corporation Limited (the
"Company" or "ONGC") at a price of Rs. 750/- for cash aggregating to
approximately Rs. 106,944.975 million (hereinafter referred to as the "Offer").
The Offer constituted up to 10% of the total paid-up capital of the Company. The Equity
Shares offered for sale are already listed on The National Stock Exchange of India Limited
(Designated Stock Exchange), The Stock Exchange, Mumbai and The Delhi Stock Exchange
Association Ltd. The Equity Shares are tradeable on these exchanges. The Selling
Shareholder has decided to transfer the Equity Shares to (a) Retail Individual Bidders and
(b) Individual Bidders bidding under the reservation for Permanent Employees/Whole-time
Directors of the Company, shareholders of the Company and shareholders of MRPL who apply
or bid for Equity Shares of not more than Rs. 50,000/- at Rs. 712.50 per Equity Share
which is at a 5% discount compared to the Offer Price to QlBs and Non Institutional
Bidders. The Selling Shareholder is solely responsible for this decision and the
consequences thereof.
As advised by the Secuities and Exchange Board of India, the SEBI guidelines for public
issues/offers do not apply to a listed company facilitating one of the shareholders to
dispose of its shareholding through an offer for sale such as this Offer. However, the
Selling Shareholder has voluntarily decided to adopt the SEBI Guidelines, particularly the
guidelines for 100 percent Book Building Process, save for certain deviations. Pursuant to
the decision of the Selling Shareholder, up to 10 percent of the offer was reserved for
Permanent Employees / Whole-time Directors of ONGC, up to 10 percent of the Offer was
reserved for shareholders of ONGC (excluding the President of India, IOC and GAIL) and
shareholders of MRPL (excluding ONGC and HPCL). Thereafter, the Net Offer ("Net
Offer") to the Public was up to 114,074,640 Equity Shares, out of which a maximum of
50 percent of the Net Offer was available for allocation on a discretionary basis to
Qualified Institutional Buyers. Further, not less than 25 percent of the Net Offer was
available for on a proportionate basis to Non Institutional Bidders and not less than 25
percent of the Net Offer was available for allocation on a proportionate basis to Retail
Individual Bidders, subject to valid bids being received at or above the Offer Price. For
further details, see "Terms of Offer" of the Final Sale Document.
The subscription received under various categories in the offer is as stated
below:
Category |
Subscription (times) |
Qualified Institutional Buyers |
12.9* |
Non Institutional Bidders |
1.58# |
Retail Individual Bidders |
1.00# |
Permanent Employees/ Wholetime Director |
1.00# |
Shareholders of ONGC and MRPL |
1.48# |
*As per electronic book data of NSE & BSE
#The level of subscription is as per the approved basis of allocation and computed after
spill over of shares from undersubscribed categories to other categories as per the terms
of the Final Sale Document.
The level of subscription should not be taken to be indicative of either the market price
of the Equity Share or the business prospects of the Company.
A) Allocation to Non lnstituuonal Bidders: The Basis of Allocation to the
Non Institutional Bidders who have bid for at or above the Issue Price of Rs. 750/- per
Equity Shares, was finalised in consultation with the National Stock Exchange of India
Limited, on a proportionate basis after rounding off to the nearest one share. The total
number of share allocated in this category is 33,722,866. The number of valid application
received in the category was 9284. A sample of category-wise details of the Basis of
Allocation is as under:
Category |
No. of applns. |
% of total applns. |
No. of Shares applied |
No. of Shares allocated |
Ratio |
Total shares allocated |
80 |
135 |
1.5% |
10800 |
51 |
Firm |
6885 |
90 |
224 |
2.4% |
20160 |
57 |
Firm |
12768 |
100 |
1747 |
18.8% |
174700 |
63 |
Firm |
110061 |
110 |
54 |
0.6% |
5940 |
70 |
Firm |
3780 |
120 |
100 |
1.1% |
12000 |
76 |
Firm |
7600 |
130 |
156 |
1.7% |
20280 |
82 |
Firm |
12792 |
140 |
118 |
1.3% |
16520 |
89 |
Firm |
10502 |
150 |
243 |
2.6% |
36450 |
95 |
Firm |
23085 |
160 |
52 |
0.6% |
8320 |
101 |
Firm |
5252 |
170 |
20 |
0.2% |
3400 |
107 |
Firm |
2140 |
180 |
32 |
0.3% |
5760 |
114 |
Firm |
3648 |
190 |
36 |
0.4% |
6840 |
120 |
Firm |
4320 |
200 |
769 |
8.3% |
153800 |
126 |
Firm |
96894 |
210 |
31 |
0.3% |
6510 |
133 |
Firm |
4123 |
220 |
18 |
0.2% |
3960 |
139 |
Firm |
2502 |
B)Allocation to Retail Individual Bidders:
The Basis of Allocation to the Retail Bidders who have bid for at or above the Issue Price
of Rs. 712.50 per Equity Shares, was finalised in consultation with the National Stock
Exchange of India Limited. The total number of share allocated in this category is
23,101,290. The number of valid application received in the category was 567823 and full
and firm allotment has been given to the applicants. The category-wise details of the
Basis of Allocation is as under:
Category |
No. of applns. |
% of total applns. |
No. of Shares applied |
No. of Shares allocated |
Ratio |
Total shares allocated |
10 |
114055 |
20% |
1140550 |
10 |
Firm |
1140550 |
20 |
100009 |
18% |
2000180 |
20 |
Firm |
2000180 |
30 |
49662 |
9% |
1489860 |
30 |
Firm |
1489860 |
40 |
30031 |
5% |
1201240 |
40 |
Firm |
1201240 |
50 |
48065 |
8% |
2403250 |
50 |
Firm |
2403250 |
60 |
95517 |
17% |
5731020 |
60 |
Firm |
5731020 |
70 |
130528 |
23% |
9136960 |
70 |
Firm |
9136960 |
C)Employees: The Basis of Allocation to
the Permanent Employees / Wholetime Directors who have bid upto Rs. 50,000/- were
allocated shares at Rs. 712.50 per Equity Shares and in case of bids in excess of Rs.
50,000/- shares were allocated at Rs. 750/- per Equity Shares, finalised in consultation
with the National Stock Exchange of India Limited.The total number of share allocated in
this category is 32,82,390. The number of valid application received in the category was
19963 and full and firm allotment has been given to the applicants. A sample of
category-wise details of the Basis of Allocation is as under :
Category |
No. of applns. |
% of total applns. |
No. of Shares applied |
No. of Shares allocated |
Ratio |
Total shares allocated |
10 |
244 |
1.2% |
2440 |
10 |
Firm |
2440 |
20 |
342 |
1.7% |
6840 |
20 |
Firm |
6840 |
30 |
237 |
1.2% |
7110 |
30 |
Firm |
7110 |
40 |
177 |
0.9% |
7080 |
40 |
Firm |
7080 |
50 |
552 |
2.7% |
27600 |
50 |
Firm |
27600 |
60 |
667 |
3.3% |
40020 |
60 |
Firm |
40020 |
70 |
7989 |
39.4% |
559230 |
70 |
Firm |
559230 |
80 |
8 |
0.0% |
640 |
80 |
Firm |
640 |
90 |
15 |
0.1% |
1350 |
90 |
Firm |
1350 |
100 |
752 |
3.7% |
75200 |
100 |
Firm |
75200 |
110 |
26 |
0.1% |
2860 |
110 |
Firm |
2860 |
120 |
65 |
0.3% |
7800 |
120 |
Firm |
7800 |
130 |
200 |
1.0% |
26000 |
130 |
Firm |
26000 |
140 |
157 |
0.8% |
21980 |
140 |
Firm |
21980 |
150 |
764 |
3.8% |
114600 |
150 |
Firm |
114600 |
D)Shareholders of ONGC and MRPL: The
Basis of Allocation to the Shareholders of ONGC & MRPL
who have bid upto Rs. 50,000/- were allocated shares at Rs. 712.50 per Equity Shares and
in case of bids in excess of Rs. 50,000/- shares were allocated at Rs. 750/- per Equity
Shares, finalised in consultation with the National Stock Exchange of India Limited. The
total number of share allocated in this category is 14,258,352. The number of valid
application received in the category was 145267. A sample of category wise details of the
Basis of Allocation is as under :
Category |
No. of applns. |
% of total applns. |
No. of Shares applied |
No. of Shares allocated |
Ratio |
Total shares allocated |
10 |
19842 |
13.66% |
198420 |
7 |
Firm |
138894 |
20 |
24141 |
16.62% |
482820 |
13 |
Firm |
313833 |
30 |
12840 |
8.84% |
85200 |
20 |
Firm |
256800 |
40 |
7839 |
5.40% |
313560 |
27 |
Firm |
211653 |
50 |
13960 |
9.61% |
698000 |
34 |
Firm |
474640 |
60 |
25333 |
17.44% |
1519980 |
41 |
Firm |
1038653 |
70 |
38818 |
26.72% |
2717260 |
47 |
Firm |
1824446 |
80 |
35 |
0.02% |
2800 |
54 |
Firm |
1890 |
90 |
51 |
0.04% |
4590 |
61 |
Firm |
3111 |
100 |
618 |
0.43% |
61800 |
68 |
Firm |
42024 |
110 |
12 |
0.01% |
1320 |
74 |
Firm |
888 |
120 |
39 |
0.03% |
4680 |
81 |
Firm |
3159 |
130 |
66 |
0.05% |
8580 |
88 |
Firm |
5808 |
140 |
35 |
0.02% |
4900 |
94 |
Firm |
3290 |
150 |
81 |
0.06% |
12150 |
101 |
Firm |
8181 |
E)Qualified Institutional Buyers:
Numbers of Shares allocated to this category was 67600960.
Refund orders have been dispatched except for cases which are being re-verified. In case
of non-receipt of refund, please contact the Registrar to the Offer as per details
mentioned below, As per the terms of the offer, the refunds will be posted to the
applicants at addresses as per the Beneficiary Account record with the Depository.
Shares in respect of which correct and complete details were available have been uploaded
in the depository systems. Investor are advised to ensure that their beneficiary accounts
are activated with their Depository Participant.
The status of the allotment of shares is being uploaded on the website:
hftp://www.mcsind.com, investors can access the Webeite for knowing the status of their
application(s).
All Correspondences with reference to this Offer should be addressed to the Registrars to
the Issue quoting full name of the First/Sole applicant, Serial number of the
bid-cum-application form, DP ID, Beneficiary ID, number of shares bid for, name of the
Member of the Syndicate and Place where bid was submitted and payment details at the
following address:
MCS Limited - (Unit ONGC Offer) 'Sri Padmavathi Bhavan', Plot No.93, Road No. 16,
M.I.D.C Area, Andheri (East), Mumbai - 400 093. Tel.: +91-22-2820 1785, Fax: +91-22-2820
1783 / 2826 0962.
E-mail: ongcoffer@mscind.com, Contact Person:
Mr.Shashi Kadam.
Helpline: 022-28313754 /
28313734/28313729/28312984. Kolkatta: Tel.No.: 033-24541892 / 24541893
Fax No.: 033-24541961. Ahmedabad: Tel No.: 079-26581296 / 26582878, Fax No.: 079-26584027 |
B00K RUNNING LEAD MANAGERS, JM Morgan Stanley Pvt. Ltd.: 141, Maker Chambers III,
Nariman Point,, Mumbai - 400 021, TeL-No.: +91-22-5030 3030, Fax no.: +91-22-5630 1694,
E-mail: ongc.offer@jmmorganstanley.com
Helpline: Tel. No. 022 - 56303185. Fax : 022 - 22028224 E-mail: tn.kumar@morganstanley.com,
Contact Person:T. N. Kumar.DSP
Merrill Lynch Ltd.:
Mafatlal Centre, 10th Floor, Nariman Point, Mumbai - 400 021
Tel. No.: +91 - 22 - 5632 8000, Fax: +91 - 22 - 2204 8518, Email: ongc_offer@ml.com
Helplins: 022 - 22679849, E-mail: theresa_pimenta@ml.com, Contact Person: Theresa
Pimenta
Kotak Mahindra Capital Company Ltd.
3rd floor, Bakhtawar, 229, Nariman Point, Mumbal - 400 021
Tel. No.: +91 - 22 - 5634 1100, Fax: +91 - 22 - 2284 0492, Email: ongc.offer@kotak.com
Helpline: 022 - 56529317118, E-mail: ongcipo.response@kotak.com, Contact Person:
Nehe Pushkala
Syndicate Member
Kotak Securities Limited
1st Floor, Bakhtawar, 229, Nariman Point, M umbai - 400 021
Tel. No.: +91 -22-5634 1100, Fax no.: +91-22-5630 3927
Company Secretary and Compliance Officer
Mr.H. C.Shah
Oil and Natural Gas Corporation Limited
Jeevan Bharati, Tower 11, 124, Indira Chowk, New Delhi - 110 001
Tel. No.: +91-11-23301277, Fax no.: +91-11-23311326, E-mail: complianceofficer@ongc.net
Delhi Helpline: 011 - 23311847/48,23301849/50/51, Fax no.: 011-23311326
Other Helpline for all queries related to Allocation / Refund of Shares
M/s Karvy
HYDERABAD
Tel. No: 040-23312454 / 23320251, Fax: 23311968, E-mail: mailmanager@karvy.com
AHMEDABAD
Tel. No.: 079-26420422 / 26400527 / 26400528, Fax: 26566551, E-mail: ahmedabad@karvy.com
GUWAHATI
Tel. No.: 0361-2608016 / 2608102 / 2608122, E-mail: guwahati@karvy.com
PATNA
Tel. No.: 0612-2321354 / 2321355 2321356 / 2321357, E-mail: patna@karvy.com
SURAT
Tel. No.: 0261-8357356 / 8351976 8369928, Fax: 8368693, E-mail: surat@karvy.com
VADODARA
Tel. No.: 0265-2225325 / 2225389, Fax: 2363207, E-mail: baroda@ karvy.com
BANGALORE
Tel. No.: 080-6621184 / 6621192, Fax: 6621169, E-mail: bglcustomercare@karvy.com
KOCHI
Tel. No.: 0484-2310884 / 2322152, Fax: 2323104, E-mail: cochin@karvy.com
BHOPAL
Tel. No.: 0755-2559332 / 2559337 /2574589 / 2574569, E-mail: ashutosh.dwivedi@karvy.com
PUNE
Tel. No.: 020-4048790, Fax: 25456842, E-mail: pune@karvy.com
BHUBANESHWAR
Tel. No.: 0674-2511013 / 2511014 / 2511015, Fax: 0674-2511012, E-mail: kclbbsr@karvy.com
CHANDIGARH
Tel. No.: 0172-5071726 /5071727/5071728, E-mail: chandigarh@karvy.com
CHENNAI
Tel. No.: 044-28153445 /28151034/ 28153658, Fax: 28153181, E-mail: chennaiirc@karvy.com
LUCKNOW
Tel. No.: 0522-2236820 to 26, Fax: 2236826, E-mail: customercare.up@karvy.com
JAIPUR
Tel. No.: 0141-2375099 / 2363321 / 2375039, Fax: 2364660, E-mail: jaipur@karvy.com |