Aishwarya Telecom IPO Details

Issue Open Apr 15, 2008
Issue Close Apr 17, 2008
IPO Price ₹35
Face Value ₹10
IPO Size ₹14.00 Cr
Listing At BSE
IPO Lot Size 200

AISHWARYA TELECOM  LIMITED

(The Company was incorporated as Aishwarya Telecom Private Limited on June 2,1995 with the Registrar of Companies, Andhra Pradesh, Hyderabad and took over the business of the partnership firm named 'Advanced Electronics & Communications System'. Subsequently, it was converted into a Public Limited Company on July 12, 2005 in terms of Section 31 (1 )/44 of the Companies Act, 1956 and the name of the Company was changed to Aishwarya Telecom Limited and a fresh Certificate of Incorporation obtained from the Registrar of Companies, Andhra Pradesh, Hyderabad). (For details of changes in Registered Office of the Company, please refer to page no.7 of the Prospectus.)

  Registered Office: 3-C Samrat Commercial Complex, Opp. A G Office, Saifabad, Khairatabad, Hyderabad, Andhra Pradesh, India, Pin - 500 004, Telephone: +91 40 2323 6019,2323 5439; Fax: +91 40 2329 6282, E-mail:ipo@aishwaryatelecom.com; Website: www.aishwaryatelecom.com
Contact Person/Compliance Officer: Mr C N Bhavani Prasad, Company Secretary

BASIS OF ALLOTMENT

INITIAL PUBLIC ISSUE OF 40,00,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 35/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 25/- PER EQUITY SHARE) AGGREGATING RS. 1400 LAKHS (HEREINAFTER REFERRED TO AS 'THE ISSUE'). THE ISSUE COMPRISES A RESERVATION FOR ELIGIBLE EMPLOYEES OF UPTO 1,00,000 EQUITY SHARES OF RS. 10 EACH ('THE EMPLOYEE RESERVATION PORTION') AGGREGATING RS. 35 LAKHS AND THE NET ISSUE TO THE PUBLIC OF 39,00,000 EQUITY SHARES OF RS. 10 EACH ('THE NET ISSUE') AGGREGATING RS. 1365 LAKHS

                                ISSUE PRICE IS RS. 35/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH.
                                                        THE ISSUE PRICE IS 3.5 TIMES OF THE FACE VALUE

The Issue is being made through the 100% Book Building Process wherein up to 50% of the Issue size shall be allocated on a proportionate basis to Qualified Institutional Buyers(QIBs), out of which 5% will be available for allocation on a proportionate basis to Mutual Funds. The remaining QIB portion shall be available for allotment on a proportionate basis to QIB bidders including Mutual Funds, subject to valid bids being received at or above the Issue Price. Further, not less than 15% of the Issue size would be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue size would be available for allocation on a proportionate basis to Retail Individual Bidders,subject to valid bids being received at or above the Issue Price.

The issue opened for subscription on April 15,2008 and closed on April 17,2008. The Issue received 28688 applications for 76362200 Equity Shares resulting in 19.09 times subscription.

As advised by SEBI, the Company has published a public notice on 19.04.2008 in newspapers and the Individual intimation letters regarding the public notice have been sent to all the applicants (Including QIBs) on 23.04.2008 Under Certificate of Posting (UCP).The Company had given an option to all applicants (including QIBs) to withdraw their bids application made in the IPO within a period often (10) days from the date of Public Notice. The last date for receipt of withdrawal was up to 5:30 p.m. on April 28,2008.In terms of the Public Notice the Registrar to the Issue has taken into account all the withdrawal requests received till 5.30 p.m. on 28th April, 2008 through fax, post, courier and hand delivery. In view of the above, the Registrar has received requests for withdrawal of 21 applications for 512200 shares. After considering the above withdrawals, the issueremained oversubscribed 18.96 times.

The Issue received 28688 applications for 76362200 equity shares resulting in 19.09 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (After withdrawal and before technical rejections)

Category

No. of
Applications
No. of shares Subscription
Employees 7 91800 0.918
Qualified Institutional Buyers 10 15964000 8.19
Non Institutional Investors 161 15934400 27.24
Retail Individual Investors 28489 43859800 32.13

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

Bid Price No. of
Equity Shares
% to Total Cumulative Total

Cumulative %
to total

32 69000 0.09 69000 0.06
33 15000 0.02 84000 0.07
34 12800 0.02 96800 0.08
35 34764400 43.73 34861200 30.42
Cutt-Off 44627800 56.14 79489000 69.36

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on April 30,2008.
A) Allocation to Employees (After Technical Rejections) '
The Basis of Allocation to the Employees in the Firm Allotment category, who bid at cut-off price or at the Issue Price at Rs. 35 per Equity Share, was finalized in consultation with the BSE. The Company received 7 valid applications for 91800 Equity Shares as against a Firm allotment portion of 1,00,000 Equity Shares resulting In 0.918 times ofsubscription. The unsatisfied demand of Employees Reservation portion, i.e. 8,200 was proportionately distributed amongst the balance categories. The category-wise details of the Basis of Allotment of Employees 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
5600 1 14.29 5600 6.10 5600 FIRM 5600
6400 1 14.29 6400 6.97 6400 FIRM 6400
8200 1 14.29 8200 8.93 8200 FIRM 8200
14200 1 14.29 14200 15.47 14200 FIRM 14200
17800 1 14.29 17800 19.39 17800 FIRM 17800
18200 1 14.29 18200 19.83 18200 FIRM 18200
21400 1 14.29 21400 23.31 21400 FIRM 21400

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 the Issue Price of Rs. 35 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 31.707 times. The total number of shares allotted in this category is 1369200 Equity Shares to 6846 successful applicants. 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
200 5250 18.78 1050000 2.42 200 3:95 33200
400 2925 10.46 1170000 2.70 200 5:79 37000
600 1897 6.79 1138200 2.62 200 9:95 36000
800 1060 3.79 848000 1.96 200 11:87 26800
1000 1489 5.33 1489000 3.43 200 3:19 47000
1200 371 1.33 445200 1.03 200 9:47 14200
1400 2659 9.51 3722600 8.58 200 21:95 117600
1600 345 1.23 552000 1.27 200 25:98 17600
1800 149 0.53 268200 0.62 200 28:97 8600
2000 312 1.12 624000 1.44 200 20:63 19800
2200 98 0.35 215600 0.50 200 17:49 6800
2400 108 0.39 259200 0.60 200 30:79 8200
2600 89 0.32 231400 0.53 200 37:89 7400
2800 11199 40.07 31357200 72.30 200 34:77 989000

C) Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to this category, who has bid at the Issue Price of Rs. 35 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 26.736 times. The total number of shares allotted in this category is 587471 Equity Shares to 138 successful applicants. 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
3000 3 2.17 9000 0.06 200 1:1 600
3200 6 4.35 19200 0.12 200 1:1 1200
3400 6 4.35 20400 0.13 200 1:1 1200
4200 1 0.72 4200 0.03 200 1:1 200
5000 1 0.72 5000 0.03 200 1:1 200
5200 1 0.72 5200 0.03 200 1:1 200
5600 4 2.90 22400 0.14 209 1:1 836
6000 3 2.17 18000 0.11 224 1:1 672
7000 4 2.90 28000 0.18 262 1:1 1048
7200 3 2.17 21600 0.14 269 1:1 807
7400 1 0.72 7400 0.05 277 1:1 277
7800 2 1.45 15600 0.10 292 1:1 584
8400 2 1.45 16800 0.11 314 1:1 628
8600 1 0.72 8600 0.05 322 1:1 322
9000 1 0.72 9000 0.06 337 1:1 337
10000 4 2.90 40000 0.26 374 1:1 1496
11200 1 0.72 11200 0.07 419 1:1 419
11400 2 1.45 22800 0.15 426 1:1 852
12000 1 0.72 12000 0.08 449 1:1 449
14000 4 2.90 56000 0.36 524 1:1 2096
14200 2 1.45 28400 0.18 531 1:1 1062
15000 2 1.45 30000 0.19 561 1:1 1122
17000 1 0.72 17000 0.11 636 1:1 636
20000 11 7.97 220000 1.40 748 1:1 8228
28000 2 1.45 56000 0.36 1047 1:1 2094
28400 5 3.62 142000 0.91 1062 1:1 5310
28800 1 0.72 28800 0.18 1077 1:1 1077
29800 1 0.72 29800 0.19 1115 1:1 1115
30000 5 3.62 150000 0.96 1122 1:1 5610
31400 1 0.72 31400 0.20 1174 1:1 1174
33000 1 0.72 33000 0.21 1234 1:1 1234
34000 1 0.72 34000 0.22 1272 1:1 1272
35000 1 0.72 35000 0.22 1309 1:1 1309
40000 1 0.72 40000 0.26 1496 1:1 1496
42800 1 0.72 42800 0.27 1601 1:1 1601
48000 1 0.72 48000 0.31 1795 1:1 1795
51000 1 0.72 51000 0.33 1908 1:1 1908
60000 3 2.17 180000 1.15 2244 1:1 6732
71400 5 3.62 357000 2.28 2671 1:1 13355
85600 2 1.45 171200 1.09 3202 1:1 6404
90000 1 0.72 90000 0.57 3366 1:1 3366
100000 9 6.52 900000 5.74 3740 1:1 33660
114400 1 0.72 114400 0.73 4279 1:1 4279
115000 1 0.72 115000 0.73 4301 1:1 4301
137000 1 0.72 137000 0.87 5124 1:1 5124
142800 2 1.45 285600 1.82 5341 1:1 10682
143000 3 2.17 429000 2.74 5349 1:1 16047
150000 1 0.72 150000 0.96 5610 1:1 5610
200000 2 1.45 400000 2.55 7481 1:1 14962
214200 1 0.72 214200 1.37 8012 1:1 8012
285600 1 0.72 285600 1.82 10682 1:1 10682
285800 3 2.17 857400 5.47 10690 1:1 32070
310000 1 0.72 310000 1.98 11595 1:1 11595
337000 1 0.72 337000 2.15 12605 1:1 12605
370600 1 0.72 370600 2.36 13862 1:1 13862
500000 2 1.45 1000000 6.38 18701 1:1 37402
514000 1 0.72 514000 3.28 19225 1:1 19225
571600 1 0.72 571600 3.65 21379 1:1 21379
714200 1 0.72 714200 4.56 26713 1:1 26713
900000 1 0.72 900000 5.74 33663 1:1 33663
1000000 1 0.72 1000000 6.38 37403 1:1 37403
1300000 3 2.17 3900000 24.88 48624 1:1 145872

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 i.e. 97,705 equity shares and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares i.e., 18,56,395 equity shares on proportionate basis.

Category M.F Flls/FVCI VC's Total
No. of Shares 1,33,076 4,52,097 13,68,927 19,54,100

The Board of Directors of the company at it's Meeting held at Hyderabad on May 2nd, 2008 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and ECS/RTGS/NEFT/Direct Credit Intimation has been dispatched to the same address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact the Registrar to the Issue, at the address given below. The Company has filed the listing application with the Bombay Stock Exchange Limited on May 5th, 2008. The Refund Orders have been over-printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to the successful applicants have 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 within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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-applicatton form, number of 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:

BIGSHARE SERVICES PRIVATE LTD.
Unit: Aishwayra Telcome Limited, E-2, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri (East), Mumbai 400 072 Tel: +91-22-40430200, Fax: +91-22-28475207, E-mail: ipo@bigshareonline.com

Place: Hyderabad
Date : May 5th, 2008
For AISHWARYA TELECOM Limited
For and on behalf of the Board of Directors
sd /-
Managing Director

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 AISHWARYA TELECOM LIMITED.

Aishwarya Telecom IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Aishwarya Telecom IPO?

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

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

    Visit the Aishwarya Telecom IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Aishwarya Telecom IPO allotment process?

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








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