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July 24, 2007 - July 27, 2007

Central Bank of India IPO Basis of Allotment

Central Bank of India
(A Govt, of India Undertaking)

(Central Bank of India was originally incorporated on December 21,1911 under provisions of the Indian Companies Act, 1882 as The Central Bank of India Limited' with its head office at Mumbai (then known as Bombay).For details of change in name and head office, see the section titled 'History and Certain Corporate Matters' on page 121 of the Prospectus). (Constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 on July 19,1969)
Head Office: Chandermukhi, Nariman Point, Mumbai 400 021;
Tel: (9122) 6638 7828; Fax: (9122) 2283 5198.
Contact Person: S.R. Shukla;
Email: investors@centralbank.co.in; Website: www.centralbankofindia.co.in

BASIS OF ALLOCATION

PUBLIC ISSUE OF 80,000,000 EQUITY SHARES OF RS. 10 EACH ('EQUITY SHARES') OF CENTRAL BANK OF INDIA (THE 'BANK' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 102 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 92 PER EQUITY SHARE) AGGREGATING RS. 8,160 MILLION (THE 'ISSUE'). THE ISSUE INCLUDES A RESERVATION OF 4,000,000 EQUITY SHARES OF RS. 10 EACH FOR THE ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE 'NET ISSUE'. THE ISSUE WILL CONSTITUTE 24.68% OF THE PRE ISSUE AND 19.80% OFTHE POST ISSUE FULLYDILUTED PAID-UP EQUITY CAPITAL OF THE BANK.

ISSUE PRICE: Rs. 102 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH.

Pursuant to of Rule 19(2)(b) of the Securities Contract Regulation Rules, 1957, ('SCRR') this Issue consists of an issue for less than 25% of the post-Issue capital and was made through the 100% Book Building Process wherein at least 60% of the Net Issue was to be Allotted on a proportionate Basis to Qualified Institutional Buyers ('QIBs'). 5% of the QIB Portion was to be made available for allocation to Mutual Funds only and the remaining QIB Portion was to be made available for allocation to all the QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 10% of the Net Issue was to be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue was to be made available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, 4,000,000 Equity Shares were to be made available for allocation on a proportionate basis to the Eligible Employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 774155 applications for 4919522340 equity shares resulting in 61.4940 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors, Retail Individual Investors and Employee categories are as under (Before technical rejections):

Category No. of Application No. of Shares Subscription
Retail Bidders 752259 355323300 15.5844
Non Institutional Bidders 2933 495747720 65.23
Qualified Institutional Bidders 381 4058803800 89.0089
Employee 18582 9647520 2.4119
TOTAL 774155 4919522340 61.4940

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

BID PRICE NO. OF SHARES % TO TOTAL CUMULATIVE TOTAL CUMULATIVE
% TO TOTAL
85 30377040 0.6041 5028450000 100.0000
86 21840 0.0004 4998072960 99.3959
87 635160 0.0126 4998051120 99.3955
88 9480 0.0002 4997415960 99.3828
89 11940 0.0002 4997406480 99.3826
90 2845140 0.0566 4997394540 99.3824
91 82860 0.0016 4994549400 99.3258
92 1141140 0.0227 4994466540 99.3242
93 8811840 0.1752 4993325400 99.3015
94 33000 0.0007 4984513560 99.1262
95 21294840 0.4235 4984480560 99.1256
96 134100 0.0027 4963185720 98.7021
97 624840 0.0124 4963051620 98.6994
98 434880 0.0086 4962426780 98.6870
99 11400 0.0002 4961991900 98.6784
100 1341600 0.0267 4961980500 98.6781
101 66060 0.0013 4960638900 98.6515
102 4603357020 91.5462 4960572840 98.6501
9999 357215820 7.1039 357215820 7.1039
TOTAL 5028450000

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange - the National Stock Exchange of India Limited ('NSE') on August 9,2007.

A Allocation to Retail Investors
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.102/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 15.1972 times. The total number of shares allotted in this category is 22800036 Equity Shares. The cateqory-wise details of the Basis of Allocation are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
60 79071 10.87 4744260 1.37 60 7:101 328620
120 104362 14.34 12523440 3.61 60 12:91 825720
180 61267 8.42 11028060 3.18 60 18:91 727140
240 47738 6.56 11457120 3.31 60 24:91 755400
300 51738 7.11 15521400 4.48 60 30:91 1023360
360 18789 2.58 6764040 1.95 60 36:91 445980
420 14643 2.01 6150060 1.77 60 42:91 405480
480 90139 12.39 43266720 12.49 60 48:91 2852760
540 10674 1.47 5763960 1.66 60 54:91 380040
600 17769 2.44 10661400 3.08 60 60:91 702960
660 3496 0,48 2307360 0.67 60 66:91 152160
720 4809 0.66 3462480 1.00 60 72:91 228300
780 2725 0.37 2125500 0.61 60 78:91 140160
840 2654 0.36 2229360 0.64 60 84:91 147000
900 9693 1.33 8723700 2.52 60 90:91 575160
960 208092 28.60 199768320 57.65 63 FIRM 13109796

B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non institutional, who have bid at and above the Issue Price of Rs. 102/- per Equity Share, was finalized in consultation with NSE, The category was subscribed 0.8143 times. The total number of shares allotted in this category is 671825 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
1020 257 11.94 262140 0.05 60 13:50 4080
1320 5 0.23 6600 0.00 60 2:5 120
2040 18 0.84 36720 0.01 60 12 540
2400 29 1.35 69600 0.01 60 18:29 1080
3420 1 0.05 3420 0.00 60 FIRM 60
4020 4 0.19 16080 0.00 63 FIRM 252
6060 2 0.09 12120 0.00 94 FIRM 188
7260 1 0.05 7260 0.00 113 FIRM 113
8640 2 0.09 17280 0.00 135 FIRM 270
10020 14 0.65 140280 0.03 156 FIRM 2184
13500 2 0.09 27000 0.01 210 FIRM 420
15780 1 0.05 15780 0.00 245 FIRM 245
19020 1 0.05 19020 0.00 296 FIRM 296
20160 1 0.05 20160 0.00 313 FIRM 313
23520 1 0.05 23520 0.00 366 FIRM 366
24960 4 0.19 99840 0.02 388 FIRM 1552
32100 1 0.05 32100 0.01 499 FIRM 499
48960 19 0.88 930240 0.19 761 FIRM 14459
57600 1 Q.05 57600 0.01 895 FIRM 895
66000 1 0.05 66000 0.01 1026 FIRM 1026
78600 1 0.05 78600 0.02 1222 FIRM 1222
97800 1 0.05 97800 0.02 1520 FIRM 1520
108000 25 1.16 2700000 0.55 1679 FIRM 41975
126720 1 0.05 126720 0.03 1970 FIRM 1970
169980 4 0.19 679920 0.14 2642 FIRM 10568
195900 1 0.05 195900 0.04 3045 FIRM 3045
229800 1 0.05 229800 0.05 3572 FIRM 3572
270000 1 0.05 270000 0.06 4196 FIRM 4196
343080 3 0.14 1029240 0.21 5332 FIRM 15996
420000 1 0.05 420000 0.09 6528 FIRM 6528
500100 3 0.14 1500300 0.31 7773 FIRM 23319
729960 1 0.05 729960 0.15 11345 FIRM 11345
979980 1 0.05 979980 0.20 15231 FIRM 15231
1470600 2 0.09 2941200 0.60 22857 FIRM 45714
2451000 2 0.09 4902000 1.00 38095 FIRM 76190
4901940 4 0.19 19607760 4.01 76189 FIRM 304756
7843080 1 0.05 7843080 1.60 121902 FIRM 121902
10784280 1 0.05 10784280 2.21 167616 FIRM 167616
19608000 1 0.05 19608000 4.01 304759 FIRM 304759

C Allocation to QIBs
Allocation to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (2280000) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (43320000) on proportionate basis. The sectoral cap and other limits applicable to the holding of shares in Bank have been taken into account while allotting shares. Mutual Funds were allotted 5% for QIB seament and other Ql B applicants were allotted 95% of the shares for QIB segment.

Category Fls/Banks MFs Flls Insurance Companies VCs Total
No.of Shares 6243239 7114634 27773123 4436584 32420 45600000

D. Allocation to Employees
The Basis of Allocation to the Employees category, who have bid at cut-off or at and above the Issue Price of Rs. 102/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 2.249790 times. The total number of shares allotted in this category is 4000000 Equity Shares. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
60 648 3.61 38880 0.43 60 11:25 17220
180 1391 7.76 250380 2.78 80 FIRM 111280
360 634 3.54 228240 2.54 160 FIRM 101440
540 545 3.60 348300 3.87 240 FIRM 154800
840 111 0.62 93240 1.04 373 FIRM 41403
1080 40 0.22 43200 0.48 480 FIRM 19200
1380 1 0.01 1380 0.02 613 FIRM 613
1680 3 0.02 5040 0.06 747 FIRM 2241
2100 17 0.09 35700 0.40 933 FIRM 15861
2220 4 0.02 8880 0.10 987 FIRM 3948
2460 4 0.02 9840 0.11 1094 FIRM 4376
2880 9 0.05 25920 0.29 1280 FIRM 11520
3120 3 0.02 9360 0.10 1387 FIRM 4161
3420 1 0.01 3420 0.04 1520 FIRM 1520
3840 1 0.01 3840 0.04 1707 FIRM 1707
4200 5 0.03 21000 0.23 1867 FIRM 9335
4800 6 0.03 28800 0.32 2134 FIRM 12804
5400 37 0.21 199800 2.22 2400 FIRM 88800
6000 7 0.04 42000 0.47 2667 FIRM 18669
9900 1 0.01 9900 0.11 4400 FIRM 4400
10800 1 0.01 10800 0.12 4800 FIRM 4800
58980 1 0.01 58980 0.66 26203 FIRM 26203

The IPO Committee of the Bank at its Meeting held at Mumbai on August 10,2007 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The Refund Orders and allotment advice and notice has been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the bank mandate details as registered, if any, with the depositories. The shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Bank is taking steps to get the equity shares admitted for trading on the National Stock Exchange of India Limited and 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, Intime Spectrum Registry Limited at www.intimespectrum.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 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:

INTIME SPECTRUM REGISTRY LIMITED
Unit: Central Bank of India,
C-13, Pannalal Silk Mills Compound,
L.B.S.Marg,Bhandup(West),
Mumbai-400 078
Tel. No.: (9122)25960320,
Fax. No.: (9122)25960328/29


Place: Mumbai
Date : August 13,2007

For Central Bank of India
Sd/-
Company Secretary

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 CENTRAL BANK OF INDIA.

Central Bank of India IPO Basis of Allotment FAQs

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

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

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