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PTC India Financial Services Ltd IPO Basis of Allotment

  

PTC INDIA FINANCIAL SERVICES LIMITED

Our Company was incorporated on September 8,2006 as a public limited company, in the name of "PTC India Financial Services Limited" under the Companies Act, 1956 ("Companies Act") with the Registrar of Companies, National Capital Territory of Delhi and Haryana. There have been no changes in the name and registered office of our Company since incorporation. Registered Office: Second Floor, NBCC Tower, 15, Bhikaji Cama Place, New Delhi 110 066, India. Website: www.ptcfinancial.com, Company Secretary and Compliance Officer: Mr. Vishal Goyal; Tel.: +91 11 4159 5122; Fax: +91 11 41659144; Email: complianceofficer@ptcfinancial.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 156,700,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF PTC INDIA FINANCIAL SERVICES LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 28* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS.18 PER EQUITY SHARE) AGGREGATING RS. 4,387.60 MILLION** (THE "ISSUE") CONSISTING OF A FRESH ISSUE OF 127,500,000 EQUITY SHARES BY THE COMPANY ("FRESH ISSUE") AND AN OFFER FOR SALE OF 29,200,000 EQUITY SHARES BY MACQUARIE INDIA HOLDINGS LIMITED (THE "SELLING SHAREHOLDER") ("OFFER FOR SALE"). THE ISSUE CONSTITUTES 27.88% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH AND THE ISSUE PRICE IS 2.8 TIMES THE FACE VALUE.

"Discount of RS.1 to the Issue Price is offered to Retail Individual Bidders ("Retail Discount"). **Based on actual Allotment

Bid/Issue opened on March 16, 2011 and closed on March 18, 2011 (except for Anchor Investors for whom the Bid/Issue was opened for a day, one day prior to the Bid/Issue opening date).

PROMOTER OF THE COMPANY: PTC INDIA LIMITED

In terms of Rule 19(2) (b) (i) of the Securities Contracts (Regulations) Rules, 1957 ("SCRR"), as amended, this is an issue for at least 25% of the post-Issue capital. The Issue is through 100% Book Building Process wherein up to 50% of the Issue has been allocated to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). 5% of the QIB Portion (excluding the "Anchor Investor Portion") has been allocated on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion was made available for allocation on a proportionate basis to QIBs including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue has been allocated on a proportionate basis to Non-Institutional Bidders and not less than, 35% of the Issue has been allocated on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. The Company and the Selling Shareholder allocated up to 30% of the QIB Portion, to Anchor Investors, on a discretionary basis (the "Anchor Investor Portion") out of which one-third was reserved for domestic Mutual Funds. Bidders (except Anchor Investors) were allowed to participate in this Issue through an Application Supported by Blocked Amount (" ASBA") process providing details about the bank account which were blocked by the Self Certified Syndicate Banks ("SCSBs") for the same. For details see the section titled "Issue Procedure" on page 283 of the Prospectus.
The Issue received 31,630 applications for 236,432,250.equity shares resulting in 1.51 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors and Anchors are as under: (Before technical rejections)

Sl. No. Category No. of Applications No. of Shares Amount %
1 Retail Individual Bidders 31,566 54,064,000 1,515,211,100 98.58
2 Non Institutional Bidders 43 2,342,500 65,561,000 9.97
3 Qualified Institutional Bidders 18 156,520,750 4,382,581,000 285.39
4 Anchors 3 23,505,000 658,140,000 100.00
Total 31,630 236,432,250 6,621,493,100 150.88

Final Demand
A summary of the final demand as per the BSE and the NSE as on the Bid/ Issue Closing Date at different bids is as detailed hereunder:

Bid Price No. of Shares % to total Cumulative Total Cumulative % of Total
26 719,750 0.32 53,692,900 19.14
27 538,750 0.24 54,231,650 19.33
28 173,915,500 76.42 228,147,150 81.32
Cutoff price 52,402,750 23.03 280,549,900 100.00
227,576,750 100.00

The Basis of Allocation (except for Anchor Investor) was finalized in consultation with the Designated Stock Exchange, being the National Stock Exchange of India Limited ("NSE") on March 25,2011.

A. Allocation to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA") (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 28/- per Equity Share (including a discount of Rs.1 /- on the issue price), was finalized in consultation with NSE. This category has been subscribed to the extent of .96 times (after rejections). There were 12,878 applications for 23,117,250 equity shares made under ASBA process. Of these, 12,454 applications for 22,307,750 equity shares were found valid and they were considered for allotment. The total number of shares allotted in Retail Individual Investor category is 52,808,500 Equity Shares which were allotted to 30728 successful applicants. Full and firm allotment was made to all valid applicants in this category.

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 28/- per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.09 times and hence allotment was done on full and firm basis to all valid applicants. There were 11 applications for 1,508,250 equity shares made under ASBA process. Of these, 9 applications for 1,493,250 equity shares were found valid and they were considered for allotment. The total number of shares allotted in Non Institutional Investor category is 2,327,500 equity Shares which were allotted to 41 successful applicants. Full and firm allotment was made to all valid applicants in this category.

C. Allocation to QIBs
The Basis of Allocation to the Qualified Institutional Bidders, who have bid at the Issue price of Rs. 28/- per Equity Share was finalized in consultation with NSE. The category has been subscribed to the extent of 2.85 times and hence allotment was done on proportionate basis. There were 16 applications for 153,454,750 equity shares made under ASBA process which, were found valid and they were considered for allotment. The total number of shares allotted in Qualified Institutional Investors category is 78,059,000 Equity Shares which were allotted to 18 successful applicants.

Category Fls/Banks Flls MFs ICs PF Others Total
No. of Equity Shares allotted 38,767,162 17,858,299 7,550,945 13,882,594 - - 78,059,000

D. Anchor Investors
The Company allocated 23,505,000 Equity Shares to 3 Anchor Investors in consultation with the Book Running Lead Managers and Co-Book Running Lead Manager. This represents 23.14% of the QIB Portion (including spill over).

The IPO Committee of the Board of Directors of the Company at its Meeting held at Hyderabad on March 26,2011 has taken On record the basis of allocation of Equity Shares of the Issue and has accordingly allotted the Equity Shares to the Bidders.
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositories on 28.03.2011. In case the same is not received within 10 days, investors may contact the Registrar to the Issue at the address given below. The instructions to Self Certified Syndicate Banks have been dispatched on or prior to March 26,2011. The Refund Orders have been over-printed with the bank account details as registered, if any, with the depositories. The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts by March 29,2011 subject to validation of the account details with the depositories concerned. The shares of the company are expected to be listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited on March 30,2011.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrar 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, place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: PTC India Financial Services Limited
Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814
Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER
1-800-3454001

Date : March 29, 2011 For PTC India Financial Services Limited
Sd/-
Vishal Goyal
Company Secretary