Basis of Allotment

DLF LIMITED

DLF LIMITED

(Originally incorporated as American Universal Electric (India) Limited on July 4,1963 under the Companies Act, 1956. On June 18,1980, the name was changed to DLF Universal Electric Limited. Subsequently, the name was changed to DLF Universal Limited on May 28,1981, and to DLF Limited on May27, 2006)
Registered Office: Shopping Mall, Third Floor, Arjun Marg, Phase-I, DLF City, Gurgaon, Haryana 122 002, India.
Tel: +91 124 433 4200, Fax: +91 124 235 5581.
Contact Person: Mr. R. Hari Haran, Tel: +91 11 4302 3058,
E-mail: ipo@dlfgroup.in, Website: www.dlf.in
Head Office: DLF Centre,Sansad Marg, New Delhi 110 001, lndia.
Tel: -+91 11  2371  9300, Fax: +91 11 2371 9344

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 17,50,00,000 EQUITY SHARES OF Rs. 2/- EACH FOR CASH AT A PRICE OF Rs. 525/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF Rs. 523/- PER EQUITY SHARE) AGGREGATING Rs. 9,187.50 CRORES REFERRED TO AS "THE ISSUE"). THE ISSUE COMPRISED A RESERVATION OF 10,00,000 EQUITY SHARES FOR SUBSCRIPTION BY EMPLOYEES AND THE NET ISSUE TO THE PUBLIC OF 17,40,00,000 EQUITY SHARES OF Rs. 2/- EACH FOR Rs. 525/- PER EQUITY SHARE. THE ISSUE CONSTITUTES 10.26% OF THE FULLY DILUTED POST ISSUE CAPITAL OF DLF LIMITED. ("COMPANY" OR "ISSUER").
The Issue was made through the 100% Book Building Process wherein at least 60% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that was specifically to be allotted to mutual funds), further,  not less than 10% of the net Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue was made 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 5,60,328 applications for 57,82,28,439 Equity Shares resulting in 3.30 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares applied for Subscription (no. of times)
Qualified Institutional Buyers 219 514460490 4.93
Non Institutional Investors 4692 16071530 0.92
Retail Individual Investors 554467 46892479 0.90
Employees 950 803940 0.80

Final Demand
A sample of the final demand at different bid prices is as under:

Bid Price No. of Shares % to
Total
Cumulative Total Cumulative % to total
500 22267450 3.67 606424860 100.00
501 690 0.00 584157410 96.33
502 500 0.00 584156720 96.33
503 40 0.00 584156220 96.33
504 430 0.00 584156180 96.33
505 5541340 0.91 584155750 96.33
507 60 0.00 578614410 95.41
509 60 0.00 578614350 95.41
510 1050820 0.17 578614290 95.41
511 70 0.00 577563470 95.24
512 160 0.00 577563400 95.24
513 50 0.00 577563240 95.24
514 20 0.00 577563190 95.24
515 1830 0.00 577563170 95.24
516 26730 0.00 577561340 95.24
517 110 0.00 577534610 95.24
518 20 0.00 577534500 95.24
519 100 0.00 577534480 95.24
520 1030750 0.17 577534380 95.24
521 1230 0.00 576503630 95.07
522 90 0.00 576502400 95.07
523 230 0.00 576502310 95.07
524 130 0.00 576502080 95.07
525 89944870 14.83 576501950 95.07
526 7460 0.00 486557080 80.23
527 160 0.00 486549620 80.23
528 200 0.00 486549460 80.23
529 170 0.00 486549260 80.23
530 4996980 0.82 486549090 80.23
531 230 0.00 481552110 79.41
532 250 0.00 481551880 79.41
533 24840 0.00 481551630 79.41
535 4320 0.00 481526790 79.40
536 40 0.00 481522470 79.40
537 40 0.00 481522430 79.40
538 140 0.00 481522390 79.40
539 220 0.00 481522250 79.40
540 12350 0.00 481522030 79.40
541 170 0.00 481509680 79.40
542 60 0.00 481509510 79.40
543 270 0.00 481509450 79.40
545 4130 0.00 481509180 79.40
546 330 0.00 481505050 79.40
547 100 0.00 481504720 79.40
548 30 0.00 481504620 79.40
549 3230 0.00 481504590 79.40
Rs.550 & at Cut Off 481501360 79.40 481501360 79.40
606424860 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on 27th June, 2007.

A. Allocation to Employees (After Technical Refections)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.79 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 799850 Equity Shares to 941 successful applicants. The unsubscribed portion of 200150 Equity Shares has been added to QIB category. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of Applications %to Total Total No. of Shares applied %to Total No. of Shares Allocated Ratio Total No. of Shares allocated
10 6 0.64 60 0.01 10 FIRM 60
20 10 1.06 200 0.03 20 FIRM 200
30 3 0.32 90 0.01 30 FIRM 90
40 13 1.38 520 0.07 40 FIRM 520
50 46 4.89 2300 0.29 50 FIRM 2300
500 28 2.98 14000 1.75 500 FIRM 14000
1000 29 3.08 29000 3.63 1000 FIRM 29000
1500 4 0.43 6000 0.75 1500 FIRM 6000
2000 9 0.96 18000 2.25 2000 FIRM 18000
5000 2 0.21 10000 1.25 5000 FIRM 10000
5500 3 0.32 16500 2.06 5500 FIRM 16500
6000 1 0.11 6000 0.75 6000 FIRM 6000
8300 1 0.11 8300 1.04 8300 FIRM 8300
9000 1 0.11 9000 1.13 9000 FIRM 9000
10000 3 0.32 30000 3.75 10000 FIRM 30000
20000 1 0.11 20000 2.50 20000 FIRM 20000
50000 1 0.11 50000 6.25 50000 FIRM . 50000
100000 2 0.21 200000 25.00 100000 FIRM 200000

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at and above the Issue Price-of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.85 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of Equity Shares allotted in this category is 4,47,19,450 Equity Shares to 525,512 successful applicants. The unsubscribed portion of 74,80,550 equity shares has been added to QIB category. The category-wise details of the Basis of Allocation are as under:

Category No. Of Applications %to Total Total No. of Shares applied %to Total No. of Shares Allocated Ratio Total No. of Shares allocated
10 58387 11.11 583870 1.31 10 FIRM 583870
20 64083 12.19 1281660 2.87 20 FIRM 1281660
30 31418 5.98 942540 2.11 30 FIRM 942540
40 32006 6.09 1280240 2.86 40 FIRM 1280240
50 52725 10.03 2636250 5.90 50 FIRM 2636250
60 14069 2.68 844140 1.89 60 FIRM 844140
70 7216 1.37 505120 1.13 70 FIRM 505120
80 13322 2.54 1065760 2.38 80 FIRM 1065760
90 64493 12.27 5804370 12.98 90 FIRM 5804370
100 41290 7.86 4129000 9.23 100 FIRM 4129000
110 2570 0.49 282700 0.63 110 FIRM 282700
120 3070 0.58 368400 0.82 120 FIRM 368400
130 1622 0.31 210860 0.47 130 FIRM 210860
140 1544 0.29 216160 0.48 140 FIRM 216160
150 5911 1.12 886650 1.98 150 FIRM 886650
160 1759 0.33 281440 0.63 160 FIRM 281440
170 1635 0.31 277950 0.62 170 FIRM 277950
180 127214 24.21 22898520 51.20 180 FIRM 22898520
190 1178 0.22 223820 0.50 190 FIRM 223820

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.84 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of Equity Shares allotted in this category is 1,46,11,290 Equity Shares to 2,172 successful applicants. The spill over portion of 2,788,710 Equity Shares has been added to QIB category. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of Applications % to Total Total No. of
Shares applied
%to Total No. of Shares Allocated Ratio Total No. of
Shares allocated
190 56 2.58 10640 0.07 190 FIRM 10640
200 534 24.59 106800 0.73 200 FIRM 106800
1000 156 7.18 156000 1.07 1000 FIRM 156000
2000 36 1.66 72000 0.49 2000 FIRM 72000
5000 21 0.97 105000 0.72 5000 FIRM 105000
10000 21 0.97 210000 1.44 10000 FIRM 210000
20000 5 0.23 100000 0.68 20000 FIRM 100000
40000 1 0.05 40000 0.27 40000 FIRM 40000
80000 1 0.05 80000 0.55 80000 FIRM 80000
100000 1 0.05 100000 0.68 100000 FIRM 100000
241580 1 0.05 241580 1.65 241580 FIRM 241580
266150 1 0.05 266150 1.82 266150 FIRM 266150
271500 1 0.05 271500 1.86 271500 FIRM 271500
275000 1 0.05 275000 1.88 275000 FIRM 275000
293600 1 0.05 293600 2.01 293600 FIRM 293600
454500 1 0.05 454500 3.11 454500 FIRM 454500
550000 1 0.05 550000 3.76 550000 FIRM 550000
886700 1 0.05 886700 6.07 886700 FIRM 886700
3827000 1 0.05 3827000 26.19 3827000 FIRM 3827000

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (57,43,471) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (10,91,25,939) on proportionate basis. Total number of Equity Shares allotted in this category is 114869410 Equity Shares to 202 allottees i.e. 100% of valid applicants.

Category Fls/Banks MFs Flls VCs Insurance Companies Total
No.of Shares 4576704 6391817 100943548 9918 2947423 114869410

The IPO Committee of the Company at its Meeting held at Hyderabad on 28th June, 2007 has approved the basis of allocation of Equity Shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) have been dispatched to the address of the investors as registered with the depositories on June 29,2007. 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 Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on June 29,2007. The Company is taking steps to get the equity shares admitted for trading on the BSE and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation. The listing applications have been filed with BSE & NSE on June 28,2007.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at www.karvy.com or http://kcpl.karvy.com
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 shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details atthe address given below:

KARVY COMPUTERSHARE PRIVATE LIMITED
Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814
Email: dlfipo@karvy.com or einward.ris@karvy.com


Place: New Delhi
Date : July 2, 2007

For DLF LIMITED
Sd/-
Directors

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF DLF LIMITED.

Close