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Action IPO Details

Issue Open Sep 1, 2006
Issue Close Sep 7, 2006
IPO Price ₹130
Face Value ₹10
IPO Size ₹59.80 Cr
Listing At BSE, NSE
IPO Lot Size 20

Action Construction Equipment Limited

(Incorporated on January 13,1995 urider the Companies Act, 1956 as Action Construction Equipments Private Limited and received a fresh Certificate of Incorporate on October 4,2005 Consequent to change of name to Action Construction Equipmens Lmimted.Frurther the name of the company has been Changed to Action Construction Equipment Limited with effect from March 23,2006)

Registered Ofllce:11 Floor, Plot N0.7, H Block, Sarita Viihar New Delhi 110044. Tel: +91-11-26953623/3626/3633, Fax+91-11-26953717. Emall: finance@ace-cranes.com; Webste: www.ace-cranes.com,
Contact Person: Mr. PK.Bansal Compliance Officer.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 46,00,000 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PREMIUM OF RS.120/-PER EQUITY SHARE AND AT A PRICE OF RS. 130/- PER EQUITY SHARE AGGREGATING TO RS.5980 LAC (HEREINAFTER REFERRED TO AS 'THE ISSUE") INCLUDING EMPLOYEES RESERVATION OF 1,00,000 EQUITY SHARES OF FACE VALUE RS.10/- EACH AT A PRICE OF RS.130/- FOR CASH AGGREGATING RS.130 LAC AND NET ISSUE TO THE PUBLIC OF 45,00,000 EQUITY SHARES OF FACE VALUE OF Rs. 10/. EACH AT A PREMIUM OF RS.120/-PER EQUITY SHARE AND AT A PRICE OF RS.130/-PER EQUITY SHARE FOR CASH AGGREGATING Rs.5850 LAC (HEREINAFTER REFERRED TO AS THE-NET ISSUE TO THE PUBLIC"). THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 25.03% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY

The Issue made through the 100% Book Building Process wherein not more then 50% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QISs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds). Further, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Instilufionel Bidders and not less than 35% of line Not Issue to the public shall be avallable for allocation an a proportionate basis to Retail Bidders, Subject to Valid bids being received at or above the issue Price.

The ISSUE received 1,20,455 applications for 1,50,1 8,705 equity shares resulting In 33.70 times subscription.

The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutions] Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on September 20,2006. The Board of Directors of the Company at its Meeting held at Ballabhgarh-Faridabad on September 21, 2006 allotted the Equity Shares to the Successful applicants. Details of valid applications received and allotments done are as under:

Category No. of Applications No. of Shares
Qualified Institutional Buyers 117 83201100
Non Institutional Investors 282 26006700
Employees 44 146500
Retail Individual Investors 116976 44561200

A. Allotment to Emloyees(After Technical Rejections)
The Basis of Allotment for Employees category,who have bid at cut-off or at the Issue Price of Rs.130/-per Equity Share, have been considered while preparing the basis of allotment The category was subscribed 1.46 times. The total number of shares allotted in this category is 1,00,000 EqutyShares.

All the applicants in this category have been given firm allotment on proportionate basis Inverse to the over subscription ratio.

B. Allotment to Retail Investors(After Technical Rejections)
The Basis of Allotment to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.130/- per Equity Share, have been considered while preparing the basis of allotment. The category was over subscribed 28.29 times. The total number of shares allotted in this category is 15,75,000 Equity Shares. The category-wise details of the Basis of allotment are as under:

Category No. of
Allplications
% total Total No. of
Shares applied
% to
Total
No. of Shares
allocated
Ratio Total No. of
Shams alloeated
50 11532 9.86 576600 1.29 50 1:28 20600
100 12799 10.94 1279900 2.87 50 1:14 45700
150 5827 4.98 874050 1.96 50 3:28 31200
200 8942 7.64 1788400 4.01 50 1:7 63850
250 3459 2.96 864750 1.94 50 5:28 30900
300 4933 4.22 1479900 3.32 50 3:14 52850
350 32353 27.66 11323550 25.41 50 1:4 404400
400 2034 1.74 813600 1.83 50 2:7 29050
450 491 0.42 220950 0.50 50 9:28 7900
500 1504 1.29 752000 1.69 50 5:14 26850
550 337 0.29 185350 0.42 50 11:28 6600
600 613 0.52 367800 0.83 50 3:7 13150
650 314 0.27 204100 0.46 50 13:28 7300
700 965 0.82 675500 1.52 50 1:2 24150
750 30873 26.39 23154750 51.96 50 21:40 810500

C. Allotment to Non Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non Institutional,who have bid at the Issue Price of Rs.130/-per Equity Share, have been considered while preparing the basis of allotment. The category was Subscrbed 38.53times. The total number of shares allotted in this category is 675000 Equity shares.The category-wise details of Basis of Allotment 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
800 11 3.90 8800 0.03 50 4:11 200
850 2 0.71 1700 0.01 50 1:2 50'
900 1 0.35 900 0.00 50 FIRM 50
1000 11 3.90 11000 0.04 50 6:11 300
1050 1 0.35 1050 0.00 50 FIRM 50
1100 2 0.71 2200 0.01 50 1:2 50
1500 3 1.06 4500 0.02 50 2:3 100
1600 3 1.06 4800 0.02 50 2:3 100
1700 2 0.71 3400 0.01 50 1:2 50
1900 & onwards FIRM PROPORTIONATE

D. Allotment to QIBs

The total number of Equity Shares allotted in this category are 58,00,000 Equity Shares (50% of total Equity Shares alloted). All the applicants in this category have been given Firm Allotment on a PROPORTIONATE BASIS. Out of 22,50,000 Equity Shares offered to QIBs as per the terms of the issue 1,12,500 Equity Shares (i.e 5% of 22,50,000 Equity Shares ) has been allotted proportionately to mutual funs. Mutual funds applicants have also been considered eligible for proportionate allotment  for the balance Equity shares in QIBs category i.e 21,37,500.

Category FIs/Banks MFs FIIs Insurancs companies VCs Total
No.of Shares 321116 782443 1136567 3957 5917 2250000
Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund Instructions and Listing details
Activity Date o fCompletion
Approval of Basis of Allotment by BSE September 20, 2006
Despatch of Allotment Advice,Refund Orders and ECS Intimation Note September 22,2006
Refund Instructions to the Clearing System(Incase of Refunds through ECS system) September 22,2008
Listing Application to BSE & NSE September 22,2008
Credit to beneficiary Accounts September 22.2006

Refunds have been made through ECS, Into the Bank Accounts of the applicants as registered with the depositories, for applicanls residing at any of the 15 centres specified by SEBI. For other applinants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received with in ten days, applicants may contant at the address given below ECS Intimation Note and Refund Orders have been over-printed with the Bank Mandate details as registered, If any, with the depositories.The Equity Shares allotted to successful applicants have been credited to their beneficiary accounts.

The company is taking steps to get the equity shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allotment.

INVESTORS PLEASE NOTE

This details of the allotment made would be hosted on the wabsite 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 to", number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at me address given below:

Karvy Computershare Private Limited
Unit: Action Construction Equipment Limited, Karvy House, 46, Avenue 4,
Street No.1, Banjara Hills, Hyderabad-500034, Tel.: +91-40-233420815-8.  Fax +91-40-23431551.
Email: ace@karvy.com or mailmanager@karvy.com                               

TOLL FREE - HELPLINE NUMBER- 1-600-3454001



Place : Ballabhgam
Date : September 21, 2006

For Action Construction Equipment Limited
Sd/
VilayAganval
Chairman &Managing director

Action IPO Basis of Allotment FAQs

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

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

Visit the Action 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 Action IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).