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A2Z Maintenance IPO Details

Issue Open Dec 8, 2010
Issue Close Dec 10, 2010
IPO Price ₹400
Face Value ₹10
IPO Size ₹675.00 Cr
Listing At BSE, NSE
IPO Lot Size 15

A2Z Maintenance & Engineering ServicesLimited

(The company was incorporated in the NCT of Delhi & Haryana as 'A2Z Maintenance services Private Limited' On january 7,2002 under the companies act 1956, as amended. Persuant to a special resolution of the shareholders at an extraordinary general meeting held on May 2,2005, the name of the company was changed to'A2Z Maintenance & Engineering services Private Limited'. The fresh certificate of incorporation issued by the Registrar of Companies, NCT of Delhi & Haryana, Located as New Delhi (the 'ROC') on June 13,2005. Subsequently, pursuant to a special resolution of the shareholders of the company at an Extraordinary general meeting held on March 12, 2010, the company became a public limited company and the word 'Private' was deleted from it's name. The Fresh certificate of incorporation to reflect the new name was issued by the RoC on March 26, 2010. For Details of changes in the name and the registered office of the company, please see the section 'History and Certain Corporate Matters' beginning on page 116 of the Prospectus. )

Registered Office: O-116, Ist Floor, DLF Shopping Mall, Arjun Marg, DLF Phase-I, Gurgaon 122 022, Haryana, India Telephone: +91 124 4581 706
Corporate Office: Plot no. 44, Sector 32, Institutional Area, Gurgaon, 122 001 Haryana, India; Telephone: +91 124 4777 800; Facsimile: +91 124 4380 014
Contact Person amd Compliance Officer: Mr. Atul Kumar Agarwal; Email: Complianceofficer@a2zemail.com ; Website: www.a2zgroup.co.in

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 19,407,750 EQUITY SHARES OF FACE VALUE RS. 10 EACH ('EQUITY SHARES') OF A2Z MAINTENANCE & ENGINEERING SERVICES LIMITED ('A2Z' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 400 PER EQUITY SHARE (THE 'ISSUE PRICE') AGGREGATING RS. 7,762.47 MILLION, COMPRISING A FRESH ISSUE OF 16,876,569 EQUITY SHARES OF RS. 10 EACH AT THE ISSUE PRICE, AGGREGATING RS. 6,750.00 MILLION BY THE COMPANY (THE 'FRESH ISSUE') AND AN OFFER FOR SALE OF 2,531,181 EQUITY SHARES' OF RS. 10 EACH AT THE ISSUE PRICE, AGGREGATING RS. 1,012.47 MILLION, BY THE SELLING SHAREHOLDERS. THE FRESH ISSUE AND THE OFFER FOR SALE ARE TOGETHER REFERRED TO HEREIN AS THE 'ISSUE'. UP T0 100,000 EQUITY SHARE OF RS. 10 EACH WERE RESERVED IN THE ISSUE FOR SUBSCRIPTION BY EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). A DISCOUNT OF 5% TO THE ISSUE PRICE WAS OFFERED TO THE EMPLOYEES AT THE TIME OF ALLOTMENT (THE 'EMPLOYEE DISCOUNT'). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE 'NET ISSUE'. THE ISSUE ANDTHE NET ISSUE CONSTITUTE APPROXIMATELY 26.16% AND 26.03%, RESPECTIVELY, OF THE POST-ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

#As per the Red Herring Prospectus, 4,556,193 EquityShares were being transferred by the Selling Shareholders. However, based on the subscription received, the number of Equity Shares transferred by the Selling Shareholders was reduced.

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH.THE ISSUE PRICE IS RS. 400 AND IS 40 TIMES THE FACE VALUE OF THE EQUITY SHARES.

ANCHOR INVESTOR BID/TSSUE DATE WAS DECEMBER7,2010 BID/ISSUE OPENED ON DECEMBER 8,2010  CLOSED ON DECEMBER 10,2010

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading is expected to commence on December 23,2010.

This Issue was made through the Book Building Process wherein not more than 50% of the Net Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ('QIBs'), provided that the Company could allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis  in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (' SEBI ICDR Regulations'). Further, 5% of the QIB Portion (excluding the Anchor Investor Portion was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, 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 Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, up to 100,000 Equity Shares were available for allocation on a proportionate basis to Employees, subject to valid Bids being received at or above the Issue Price, provided that the value of allotment to a single Employee did not exceed Rs. 200,000.
The Company allocated 3,137,940 Equity Shares of the QIB Portion to Anchor Investors on a discretionary basis at Rs.400 in accordance with the SEBI ICDR Regulations.

The Issue received 12,548 applications for 19,666,920 Equity Shares resulting in 0.9177 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors, Anchor Investors and Employee categories are as under: (Before technical rejections).

Category No. of
Applications
No. of
Equity Shares
No. of times
Subscription
A Retail Individual Bidders 12,350 1,921,785 0.2574
B Non Institutional Bidders 34 9,341,565 2.9195
C Qualified Institutional Bidders 14 5,133,420 0.6819
D Employees 143 34,680 0.3468
E Anchor Investors 7 3,235,470 1.0311
Total 12,548 19,666,920

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
CUTOFF 2,203,395 11.782 2,203,395 11.782
410 6,818,325 36.458 9,021,720 48.240
408 15 0.000 9,021,735 48.240
407 45 0.000 9,021,780 48.240
406 75 0.000 9,021,855 48.241
405 545,400 2.916 9,567,255 51.157
404 330 0.002 9,567,585 51.159
403 60 0.000 9,567,645 51.159
402 75 0.000 9,567,720 51.159
401 120 0.001 9,567,840 51.160
400 9,133,920 48.840 18,701,760 100.000
TOTAL 18,701,760 100.00

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on December 16,2010.

A.  Allocation to Employees (After Technical Rejections) including ASBA Applications
The Basis of Allotment to the Employees, who bid at the cut-off price or at or above the Issue Price of Rs. 400 per Equity Share (a discount of 5% to the Issue Price was offered to the Employees at the time of allotment and hence the net Issue Price for this category was Rs.380 per Equity Share), was finalized In consultation with BSE. This category was subscribed to the extent of 0.3138 times.
The total number of Equity Shares allotted in this category was 31,380 Equity Shares to 129 successful applicants. Full and firm allotment was made to all valid applications in this category.
The under subscribed portion of 68,620 Equity Shares was spilled over to QIBs (34,310 Equity Shares), Non-Institutional Bidders (10,293 Equity Shares) and Retail Individual Bidder Category (24,017 Equity Shares). The category-wise details of the Basis of Allotment are as under:

Category No. of
Applns.
% to
total
Total No. of
Equity Shares
applied
% to
total
No. of Equity
Shares allocated
Ratio Total No. of
Equity Shares
allocated
15 27 20.93 405 1.29 15 1:1 405
30 14 10.85 420 1.34 30 1:1 420
45 8 6.2 360 1.15 45 1:1 360
60 2 1.55 120 0.38 60 1:1 120
75 3 2.33 225 0.72 75 1:1 225
90 1 0.78 90 0.29 90 1:1 90
105 2 1.55 210 0.67 105 1:1 210
150 5 3.88 750 2.39 150 1:1 750
165 1 0.78 165 0.53 165 1:1 165
180 1 0.78 180 0.57 180 1:1 180
195 2 1.55 390 1.24 195 1:1 390
210 1 0.78 210 0.67 210 1:1 210
225 1 0.78 225 0.72 225 1:1 225
240 3 2.33 720 2.29 240 1:1 720
255 1 0.78 255 0.81 255 1:1 255
300 1 0.78 300 0.96 300 1:1 300
330 1 0.78 330 1.05 330 1:1 330
375 3 2.33 1,125 3.59 375 1:1 1,125
450 2 1.55 900 2.87 450 1:1 900
480 50 38.76 24,000 76.48 480 1:1 24,000

B.  Allocation to Retail Individual Investors (After Technical Rejections) Including ASBA Applications
The Basis of Allotment to the Retail Individual Investors, who bid at the cut-off price or at or above the Issue Price of Rs. 400 per Equity Share, was finalized in consultation with BSE. This category was subscribed to the extent of 0.2521 times. The total number of Equity Shares allotted in Retail Individual Investor category was 1,888,305 Equity Shares to 12,129 successful applicants. The under subscribed portion of 5,601,630 Equity Shares was spilled over to Non-Institutional Bidders. The category-wise details of the Basis of Allotment are (sample) as under:

Category No. of
Applns.
% to
total
Total No. of
Equity Shares
applied
% to
total
No. of Equity
Shares allocated
Ratio Total No. of
Equity Shares
allocated
15 2921 24.08 43,815 2.32 15 1:1 43,815
30 1601 13.2 48,030 2.54 30 1:1 48,030
45 736 6.07 33,120 1.75 45 1:1 33,120
105 296 2.44 31,080 1.65 105 1:1 31,080
120 554 4.57 66,480 3.52 120 1:1 66,480
180 80 0.66 14,400 0.76 180 1:1 14,400
195 53 0.44 10,335 0.55 195 1:1 10,335
210 68 0.56 14,280 0.76 210 1:1 14,280
225 87 0.72 19,575 1.04 225 1:1 19,575
285 6 0.05 1,710 0.09 285 1:1 1,710
300 46 0.38 13,800 0.73 300 1:1 13,800
315 12 0.1 3,780 0.2 315 1:1 3,780
390 4 0.03 1,560 0.08 390 1:1 1,560
405 9 0.07 3,645 0.19 405 1:1 3,645
480 2038 16.8 978,240 51.81 480 1:1 978,240
495 3 0.02 1,485 0.08 495 1:1 1,485

C. Allocation to Non Institutional Investors (After Technical Rejections) Including ASBA Applications.
The Basis of Allotment to the Non-Institutional Investors, who have bid at or above the Issue Price of Rs. 400 per Equity Share, was finalized in consultation with BSE. This category was subscribed to the extent of 0.8200 times. The total number of Equity Shares allotted in this category was 9,216,705 Equity Sharps to 33 successful applicants. The category-wise details of the Basis of Allotment are (sample) under:

Category No. of Applns. % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
495 3 9.09 1,485 0.02 495 1:1 1,485
510 1 3.03 510 0.01 510 1:1 510
2190 1 3.03 2,190 0.02 2190 1:1 2,190
4995 1 3.03 4,995 0.05 4995 1:1 4,995
5040 1 3.03 5,040 0.05 5040 1:1 5,040
10725 1 3.03 10,725 0.12 10725 1:1 10,725
24390 1 3.03 24,390 0.26 24390 1:1 24,390
49995 1 3.03 49,995 0.54 49995 1:1 49,995
50010 1 3.03 50,010 0.54 50010 1:1 50,010
73170 1 3.03 73,170 0.79 73170 1:1 73,170
121965 3 9.09 365,895 3.97 121965 1:1 365,895
243990 1 3.03 243,990 2.65 243990 1:1 243,990
499995 1 3.03 499,995 5.42 499995 1:1 499,995
750000 1 3.03 750,000 8.14 750000 1:1 750,000
1829265 1 3.03 1,829,265 19.85 1829265 1:1 1,829,265
4624995 1 3.03 4,624,995 50.18 4624995 1:1 4,624,995

D. Allocation to QIBs including ASBA Applications
Allocation to QIBs was done in consultation with BSE. As per the SEBI ICDR Regulations, Mutual Funds were initially allocated 5% of the quantum of Equity Shares available (378,098 Equity Shares), including spill over from Employee Category to the extent of 1,715 Equity Shares and other QIBs were allocated the remaining available Equity Shares (4,755,322 Equity Shares) on proportionate basis, including spill over from Employee Category to the extent of 32,595 Equity Shares. The under subscribed portion of 2,428,546 Equity Shares was spilled over to Non-Institutional Bidders.

Category Fls/Banks Flls MFs ICs VCs Total
No. of Equity Shares - 3,777,045 990,525 365,850 5,133,420

E. Allocation to Anchor Investors
Allocation to Anchor Investors was as per SEBI ICDR Regulations. As per the SEBI ICDR Regulations, 30% of QIB Portion (3,137,940 Equity Shares) was allotted to Anchor Investors.

Category Flls Banks MFs INC Total
No of Equity Shares 2,012,940 - 1,125,000 - 3,137,940

The IPO Committee of the Company at it' s Meeting held on December 16,2010, has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange for the Issue viz., BSE, and has authorized the Corporate Action for the transfer of the Equity Shares to various successful applicants. The CAN-cum-Refund Orders and Allotment Advice and / or Notices have been dispatched to the addresses of the investors as registered with the depositories on or prior to December 18,2010. Further, the instructions to SCSBs have been dispatched on or prior to December 16,2010. In case the same is not received within ten days, investors may contact the Registerar 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 on or prior to December 20,2010, subject to validation of the account details with the depositories concerned.
Commencement of Trading: 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 December 23,2010.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the prospectus dated December 16,2010 filed with the Registrar of Companies, NCT of Delhi & Haryana, located at New Delhi ('Prospectus')

INVESTORS PLEASE NOTE
The details of the allocation made would be hosted on the website of Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in

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 and Place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound, L.B.S.Marg,
Bhandup (West), Mumbai 400 078
Tel.:+91 22 2596 0320, Fax:+91 22 2596 0329
Email ID: a2z.ipo@linkintime.co.in

Place: Gurgaon
Date: December 21,2010
For A2Z Maintenance & Engineering ServicesLimited
Atul Kumar Agarwal
Compliance Officer

A2Z Maintenance IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in A2Z Maintenance IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The A2Z Maintenance IPO basis of allotment (published above) tells you how shares are allocated to you in A2Z Maintenance IPO and category wise demand of IPO share.

Visit the A2Z Maintenance IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in A2Z Maintenance IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).