Constructions IPO Details

Issue Open Feb 5, 2007
Issue Close Feb 9, 2007
IPO Price ₹291
Face Value ₹10
IPO Size ₹124.24 Cr
Listing At BSE, NSE
IPO Lot Size 20

C & C CONSTRUCTIONS LIMITED

Incorporated on July 16,1996 under the Companies Act, 1956 as a private limited company. Our Company became a public limited company with effect from August 28,2006 and our name was changed to 'C&C Constructions Limited'. For details in changes of our registered office, see the section titled 'History and Certain Corporate Matters' beginning on page 89 of the Prospectus.
Registered Office: Flat No; G-11, Hemkunt Chamber, Nehru Place, New Delhi 110 019, India.
Corporate Office: Jay Plaza-Clearview Building, C-1/B, Old DLF Colony, Gurgaon 122 001, India.
Tel: +91 124 4080661. Fax: +91 124 4080663.
Contact Person and Compliance Officer: Mr. Santosh Kumar Pradhan, Company Secretary.
Tel: +91124 4080661. Fax: +91 124 4080663.
E-mail: ipo@candcinfrastructure.com. Website: www.candcinfrastructure.com .

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 4,269,451 EQUITY SHARES OF RS. 10 EACH ('EQUITY SHARES'*) FOR CASH AT A PRICE OF RS. 291 PER EQUITY SHARE AGGREGATING RS. 1242.41 MILLION ('THE 'ISSUE') BY C&C CONSTRUCTIONS LIMITED ('C&C', 'THE COMPANY' OR 'THE ISSUER'). THE ISSUE SHALL CONSTITUTE 23.38% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF C&C CONSTRUCTIONS LIMITED.

THE ISSUE PRICE OF THE EQUITY SHARES IS RS. 29.1 PER EQUITY SHARE WHICH IS 29.1 TIMES THE FACE VALUE OF THE EQUITY SHARES.

In terms of Rule 19(2)(b) of the SCRR, this being an Issue for less than 25% of the post-Issue capital, the Issue was made through the 100% Book Building Process wherein at least 60% of the Issue shall be allotted on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above issue price, if at least 60% of the Issue cannot be allotted to QIB Bidders, then the entire application money will be refunded forthwith. Further, up to 10% of the Issue shall be available for allocation on a proportionate basis to Non-institutional Bidders and up to 30% of the Issue shall 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 Board of Directors of C&C Constructions Limited wish to thank the investing public for their response to the Issue which opened for subscription on February 05, 2007 and closed on February 09,2007. The Issue received 47,227 applications for 84,241,200 Equity Shares resulting in 19.73 times subscription. The details of the valid applications received in the Issue from Qualified Institutional Buyers ('QIBs'), Non-Institutional Bidders and Retail Individual Bidders categories are as under:

Category No. of Applications No. of shares bid Subscription
Qualified Institutional Buyers 94 76,815,100 29.98
Non-Institutional Bidders 150 1,606,020 3.76
Retail Individual Bidders 45,983 5,820,080 4.54

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
270 7880 0.00911 16420 0.01899
271 320 0.00037 820 0.00095
272 260 0.00030 500 0.00058
273 0 0.00000 0 0.00000
274 60 0.00007 100 0.00012
275 560 0.00065 2540 0.00294
276 20 0.00002 20 0.00002
277 360 0.00042 1500 0.00173
278 320 0.00037 1140 0.00132
280 1920 0.00222 5680 0.00657
281 23940 0.02769 40360 0.04668
282 80 0.00009 240 0.00028
283 40 0.00005 60 0.00007
284 60 0.00007 160 0.00019
285 33620 0.03888 73980 0.08556
286 1220 0.00141 3760 0.00435
287 480 0.00056 1980 0.00229
288 40 0.00005 40 0.00005
289 0 0.00000 0 0.00000
290 2860 0.00331 8540 0.00988
291 80302500 92.86861 86468880 99.99993
Cutoff 6092400 7.04577 6166380 7.13132
TOTAL 86468940

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited ('NSE') on Wednesday, February 21, 2007.

A) Allocation to Retail Investors
The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price or at the Issue Price of Rs. 291 per Equity Share, was finalized in consultation with NSE. The Company received 45,983 valid applications for 5,820,080 Equity Shares in this category resulting in 4.54 times subscription. The total number of Equity Shares allotted in this category is 1,282,030. The category wide details of the Basis of Allotment are oiven below:

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
20 9997 21.74 199940 3.44 44001 2:9 44360
40 6607 14.37 264280 4.54 58161 4:9 58660
60 3945 8.58 236700 4.07 52091 2:3 52480
80 2277 4.95 182160 3.13 40088 8:9 40460
100 4205 9.14 420500 7.22 92540 1:1 92510
120 1096 2.38 131520 2.26 28944 1:1 28496
140 817 1.78 114380 1.97 25172 1:1 25327
160 6967 15.15 1114720 19.15 245318 1:1 243845
180 517 1.12 93060 1.60 20480 1:1 20680
200 851 1.85 170200 2.92 37456 1:1 37444
220 130 0.28 28600 0.49 6294 1:1 6240
240 150 0.33 36000 0.62 7923 1:1 7950
260 146 0.32 37960 0.65 8354 1:1 8322
280 72 0.16 20160 0.35 4437 1:1 4464
300 377 0.82 113100 1.94 24890 1:1 24882
320 253 0.55 80960 1.39 17817 1:1 17710
340 7576 16.48 2575840 44.26 566870 1:1 568200

B) Allocation to Non Institutional Bidders
The Basis of Allotment to the Non Institutional Bidders, who bid at the cut-off price or at the Issue Price of Rs. 291 per Equity Share, was finalized in consultation with NSE. The Company received 150 valid , applications for 1,606,020 Equity Shares in this category resulting in 3.76 times subscription. The number of shares allotted to Non-Institutional Bidders is 426,946. The category wide details of the Basis of Allotment are given below:

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
360 5 3.33 1800 0.11 479 1:1 480
380 1 0.67 380 0.02 101 1:1 101
400 6 4.00 2400 0.15 638 1:1 636
420 2 1.33 840 0.05 223 1:1 224
460 1 0.67 460 0.03 122 1:1 122
500 6 4.00 3000 0.19 798 1:1 798
520 1 0.67 520 0.03 138 1:1 138
580 1 0.67 580 0.04 154 1:1 154
680 2 1.33 1360 0.08 362 1:1 362
700 6 4.00 4200 0.26 1117 1:1 1116
800 2 1.33 1600 0.10 425 1:1 426
860 1 0.67 860 0.05 229 1:1 229
940 1 0.67 940 0.06 250 1:1 250
980 1 0.67 980 0.06 261 1:1 261
1000 19 12.67 19000 1.18 5051 1:1 5054
1020 1 0.67 1020 0.06 271 1:1 271
1040 1 0.67 1040 0.06 276 1:1 276
1100 3 2.00 3300 0.21 877 1:1 876
1200 1 0.67 1200 0.07 319 1:1 319
1300 1 0.67 1300 0.08 346 1:1 346
1320 1 0.67 1320 0.08 351 1:1 351
1400 1 0.67 1400 0.09 372 1:1 372
1420 1 0.67 1420 0.09 377 1:1 377
1500 1 0.67 1500 0.09 399 1:1 399
1560 1 0.67 1560 0.10 415 1:1 415
1600 1 0.67 1600 0.10 425 1:1 425
1620 1 0.67 1620 0.10 431 1:1 431
1660 1 0.67 1660 0.10 441 1:1 441
1700 6 4.00 10200 0.64 2712 1:1 2712
1760 1 0.67 1760 0.11 468 1:1 468
1800 1 0.67 1800 0.11 479 1:1 479
1840 1 0.67 1840 0.11 489 1:1 489
2000 6 4.00 12000 0.75 3190 1:1 3192
2060 1 0.67 2060 0.13 548 1:1 548
2080 1 0.67 2080 0.13 553 1:1 553
2100 1 0.67 2100 0.13 558 1:1 558
2740 1 0.67 2740 0.17 728 1:1 728
2940 1 0.67 2940 0.18 782 1:1 782
2960 1 0.67 2960 0.18 787 1:1 787
3000 3 2.00 9000 0.56 2393 1:1 2394
3420 6 4.00 20520 1.28 5455 1:1 5454
3440 2 1.33 6880 0.43 1829 1:1 1828
3600 1 0.67 3600 0.22 957 1:1 957
3920 1 0.67 3920 0.24 1042 1:1 1042
4060 1 0.67 4060 0.25 1079 1:1 1079
4100 1 0.67 4100 0.26 1090 1:1 1090
4120 1 0.67 4120 0.26 1095 1:1 1095
4700 1 0.67 4700 0.29 1249 1:1 1249
4740 1 0.67 4740 0.30 1260 1:1 1260
5160 1 0.67 5160 0.32 1372 1:1 1372
6080 1 0.67 6080 0.38 1616 1:1 1616
6860 3 2.0 20580 1.28 5471 1:1 5472
7400 1 0.67 7400 0.46 1967 1:1 1967
8500 1 0.67 8500 0.53 2260 1:1 2260
8600 2 1.33 17200 1.07 4572 1:1 4572
10000 3 2.00 30000 1.87 7975 1:1 7974
13740 1 0.67 13740 0.86 3653 1:1 3653
14420 1 0.67 14420 0.90 3833 1:1 3833
15300 1 0.67 15300 0.95 4067 1:1 4067
15400 1 0.67 15400 0.96 4094 1:1 4094
15800 1 0.67 15800 0.98 4200 1:1 4200
17180 7 4.67 120260 7.49 31970 1:1 31969
20700 1 0.67 2700 1.29 5503 1:1 5503
24040 1 0.67 24040 1.50 6391 1:1 6391
25500 1 0.67 25500 1.59 6779 1:1 6779
34380 2 1.33 68760 4.28 18279 1:1 18280
35000 6 4.00 210000 13.08 5526 1:1 55824
44000 1 0.67 44000 2.74 11697 1:1 11697
68700 2 1.33 137400 8.56 36526 1:1 36526
69000 1 0.67 69000 4.30 18343 1:1 18343
274900 2 1.33 549800 34.23 146159 1:1 146160

C) Allocation to QlBs
Allocation to QIBs was done on a proportionate basis. As per the SEBI guidelines, Mutual Funds were initially allotted 5% (128,083 Equity Shares) of the quantum of shares available (2,561,671 Equity Shares) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining 2,433,588 Equity Shares on a proportionate basis.

Category FIs/ Banks MFs Flls Insurance Companies Venture Capital Fund Total
No. of Shares 346450 365251 1759478 88856 1636 2561671

The Board of Directors of the Company at a meeting held at New Delhi on February 21,2007 approved the Basis of Allotment of Equity Shares in the Issue and recommended the allotment of 4,270,647 Equity Shares (including an over allotment of 1,196 Equity Shares constituting 0.03% of the Issue, for the purpose of rounding off to the nearest integer) to successful applicants.

The Refund Orders / allotment advice in respect of refunds due to applicants has been dispatched to the addresses 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 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 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date approval of Basis of Allotment.

INVESTORS PLEASE NOTE
These details of the allocation will also be available on the website of the Registrar to the Issue, Bigshare Services Private Limited, at http:// www.bigshareonline.com.

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting the full name of the First/Sole applicants, 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 :

BIGSHARE SERVICES PRIVATE LIMITED
E-2/3, Ansa Industrial Estate, Saki Vihar Road,
Saki Naka, Andheri (East), Mumbai - 400 072.
Tel: +91 22 2847 3747/3474/0652/0653. Fax: +91 22 2847 5207
Email: ipo@bigshareonline.com; Website: www.bigshareonline.com
Contact Person: Mr. N. V. K. Mohan


Place : New Delhi
Data :
February 22,2007

For C& C Constructions Limited
Sd/-
Gurjeet Singh Johar
Chairman

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE PROSPECTUS OF C & C CONSTRUCTIONS LIMITED.

Constructions IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Constructions IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Constructions 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 Constructions IPO basis of allotment status?

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

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

  3. 3. What is Constructions IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Constructions 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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