POWER GRID CORPORATION OF INDIA LIMITED
Our Company was incorporated in New Delhi on October 23,1989
under the Companies Act, 1956 (the "Companies Act") as a public limited
company under the name 'National Power Transmission Corporation Limited'. For more
information on change in the name of our Company and our registered office, see
"History and Certain Corporate Matters" on page 130 of the Prospectus filed with
the RoC. Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New
Delhi 110 016, India Tel: +91 (11) 2656 0112 Fax: +91 (11) 2656 4849. Corporate Office:
"Saudamini", Plot No.2, Sector 29, Gurgaon 122 001, Haryana, India Tel: +91
(124) 2571 700 Fax: +91 (124) 2571 848 Company Secretary and Compliance Officer: Ms.
Divya Tandon, Company Secretary Tel: +91 (124) 2571 968 Fax: +91 (124) 2571 891
BASIS OF ALLOTMENT
FURTHER PUBLIC ISSUE OF 841,768,246 EQUITY SHARES OF RS. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS. 90* PER EQUITY SHARE OF POWER GRID CORPORATION OF INDIA LIMITED ("POWERGRID", "OUR COMPANY" OR "THE ISSUER") AGGREGATING RS. 74,423.4 MILUON (THE "ISSUE"). THE ISSUE COMPRISED A FRESH ISSUE OF 420,884,123 EQUITY SHARES BY OUR COMPANY (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 420,884,123 EQUITY SHARES BY THE PRESIDENT OF INDIA ACTING THROUGH THE MINISTRY OF POWER, GOVERNMENT OF INDIA (THE "SELLING SHAREHOLDER") (THE "OFFER FOR SALE"). THE ISSUE COMPRISED A NET ISSUE TO THE PUBLIC OF 838,378,646 EQUITY SHARES ('THE NET ISSUE") AND A RESERVATION OF 3,389,600 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE CONSTITUTED 18.2% OF THE POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY AND THE NET ISSUE CONSTITUTED 18.1% OF THE POST ISSUE PAID-UP EQUFTY CAPITAL OF OUR COMPANY.
THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH AND THE ISSUE PRICE IS RS. 90
PER SHARE. THE ISSUE PRICE IS 9.0 TIMES THE FACE VALUE.
This Issue was made through the Book Building Process where up to 50% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion"). Further, 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only. The remainder was available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids received from them at or above the Issue Price. In addition, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was available for allocation on a proportionate basis to Retail Bidders, subject to valid Bids received at or above the Issue Price. Any Bidder could participate in this Issue through the Application Supported by Blocked Amount ("ASBA") process by providing the details of the ASBA Accounts in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs"). For more information, specific attention is invited to "Issue Procedure" on page 375 of the Prospectus.
Promoter: President of India, acting through the Ministry of Power, Government of
The Issue received 1,427,845 applications for 12,493,521,170 Equity Shares resulting in 14.84 times subscription, out of these there were 302,904 number of applicaitons for 7,756,839,090 Equity Shares made under the ASBA process. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Eligible Employee categories are as under: (Before technical rejections)
The basis of allocation was finalized in consultation with the Designated Stock Exchange, being the NSE on November 20,2010.
A. Allocation to Eligible Employees (Including ASBA Applications) (After Technical
B. Allocation to Retail Individual Investors (Including ASBA Applications) (After
C. Allocation to Non Institutional Investors (Including ASBA Applications) (After
D. Allocation to QIBs (Including ASBA Applications) (After Technical Rejections)
The FPO Committee of the Company at its meeting held at Hyderabad on 23rd November, 2010 has approved the basis of allocation of Equity Shares of the Issue and has accordingly Allotted the Equity Shares to the successful Bidders.
The CAN-cum-Refund Orders and Allotment advice and/ or notices will be dispatched to the address of the Bidders as registered with the depositories on or prior to 25th November, 2010. Further, the instructions to Self Certified Syndicate Banks have been dispatched on or prior to 22nd November, 2010. In case the same is not received within 10 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 allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on 25th November 2010.
INVESTORS PLEASE NOTE
The details of the allocation made are available 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:
Computershare Private Limited: Unit: Power Grid Corporation of India
TOLL FREE - HELPLINE NUMBER: 1-800-3454001
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUFTY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF POWER GRID CORPORATION OF INDIA LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated November 16,2010 filed with RoC, National Capital Territory, Delhi and Haryana.
Power Grid Corporation of India Limited subject to market conditions and other considerations, has made a further public offer of securities and has filed a Prospectus with the Registrar of Companies, National Capital Territory of Delhi and Haryana and the Securities and Exchange Board of India (SEBI). The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the website of the Book Running Lead Managers at www.sbicaps.com, http://www2.goldmansachs.com/ worldwide/ india/ indian_offerings.html, www.icicisecurities.com and www.jpmipl.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the Prospectus filed with the RoC. This advertisement may not be published or distributed in the United States and does not constitute an offer of securities for sale or the solicitation of any offer to buy securities in any jurisdiction, including the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "US Securities Act), or an exemption therefrom. The Equity Shares have not been and will not be registered under the US Securities Act or any state securities laws in the United States and may not be offered or sold in the United States except c pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in accordance with any applicable U.S. state" securities laws. The Equity Shares are being offered and sold within the United States only in compliance with Rule 144A under the US Securities Act, and 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. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in this advertisement, will not accepeted.
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