Edelweiss IPO Details

Issue Open Nov 15, 2007
Issue Close Nov 20, 2007
IPO Price ₹825
Face Value ₹5
IPO Size ₹691.86 Cr
Listing At BSE, NSE
IPO Lot Size 8

Edelweiss

Ideas create, values protect

Registered and Corporate Office: 14th Floor, Express Towers, Nariman Point, Mumbai 400 021, Maharashtra, India. Telephone No: +91 22 2286 4400; Fax No: + 91 22 2286 4278; Email: ecl.ipo@edelcap.com
Contact Person: Ms. Shilpa Soti; Website: www.edelcap.com

BASIS OF ALLOTMENT

PUBLIC ISSUE BY EDELWEISS CAPITAL LIMITED ("COMPANY") OF 8,386,147 EQUITY SHARES OF RS. 5 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS. 825 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 820 PER EQUITY SHARE) AGGREGATING RS. 6,918.57 MILLION (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 8,181,607 EQUITY SHARES OF RS. 5 EACH (THE "NET ISSUE") AND A RESERVATION OF 204,540 EQUITY SHARES OF RS. 5 EACH FOR ELIGIBLE EMPLOYEES OF THE COMPANY (THE "EMPLOYEES RESERVATION PORTION"). THE ISSUE WOULD CONSTITUTE 11.19% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE WOULD CONSTITUTE 10.92% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

THE FACE VALUE OF EQUITY SHARE IS RS. 5/- EACH. THE ISSUE PRICE OF RS 825/- EACH IS 165 TIMES OF THE FACE VALUE

The Book Running Lead Managers are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, and Lehman Brothers Securities Private Limited, 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 trading is expected to start on or around December 12, 2007.

In terms of Rule 19{2)(b) of the Securities Contract Regulation Rules, 1957 this being an Issue for less than 25% of the post-Issue capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated 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 atleast 60% of the Net Issue cannot be Allocated to QIB Bidders, then the entire application money will be refunded forthwith. Further, not less than 10% of the Net Issue shall be available, for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net 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. Further, up to 204,540 Equity Shares shall be available for allocation on a proportionate basis to the Employees, subject to valid Bids being received at or above the Issue Price.

The issue received 4,62,370 applications for 92,47,75,360 Equity Shares resulting in 110.2742 times subscription. The details of the applications received in the Issue from QIBs, Non Institutional Bidders, Retail individual Bidders and Eligible Employees (Before technical rejections) are as under:

Category No. of applications No. of Shares Subscription (No. of times)
Retail Individual Bidders 459520 41496928 16.9066
Non Institutional Bidders 1665 129813768 158.6655
QIBs 412 751413696 153.0697
Eligible Employees 773 2050968 10.0272

Final Demand

A summary of the final demand at various bid price levels as per the electronic book is given below:

Bid Price No. of Applications No. of Shares % to Total Cumulative
no. of Shares
Cumulative % to
Total
725 722 3166744 0.3356 943640368 100.0000
726 8 656 0.0001 940473624 99.6644
727 65 8344 0.0009 940472968 99.6643
728 2 144 0.0000 940464624 99.6635
729 3 152 0.0000 940464480 99.6634
730 28 1104 0.0001 940464328 99.6634
732 2 64 0.0000 940463224 99.6633
733 5 304 0.0000 940463160 99.6633
735 117 14808 0.0016 940462856 99.6633
736 1 72 0.0000 940448048 99.6617
740 11 656 0.0001 940447976 99.6617
743 1 8 0.0000 940447320 99.6616
745 6 80 0.0000 940447312 99.6616
747 1 1104 0.0001 940447232 99.6616
750 223 625736 0.0663 940446128 99.6615
751 2 64 0.0000 939820392 99.5952
755 4 272 0.0000 939820328 99.5952
756 2 104 0.0000 939820056 99.5952
759 3 2487584 0.2636 939819952 99.5951
760 17 1200 0.0001 937332368 99.3315
763 1 72 0.0000 937331168 99.3314
764 1 8 0.0000 937331096 99.3314
766 1 112 0.0000 937331088 99.3314
770 24 2512 0.0003 937330976 99.3314
771 1 16 0.0000 937328464 99.3311
772 2 144 0.0000 937328448 99.3311
773 64 8464 0.0009 937328304 99.3311
774 2 16 0.0000 937319840 99.3302
775 362 2354488 0.2495 937319824 99.3302
776 1 8 0.0000 934965336 99.0807
777 1 16 0.0000 934965328 99.0807
780 45 3856 0.0004 934965312 99.0807
781 109 13864 0.0015 934961456 99.0803
785 8 480 0.0001 934947592 99.0788
790 12 560 0.0001 934947112 99.0788
792 3 2383944 0.2526 934946552 99.0787
795 4 112 0.0000 932562608 98.8261
799 2 24 0.0000 932562496 98.8260
800 336 1288096 0.1365 932562472 98.8260
801 3 88 0.0000 931274376 98.6895
802 1 112 0.0000 931274288 98.6895
803 1 48 0.0000 931274176 98.6895
805 6 12672 0.0013 931274128 98.6895
806 1 64 0.0000 931261456 98.6882
808 1 32 0.0000 931261392 98.6882
810 18 864 0.0001 931261360 98.6882
811 1 16 0.0000 931260496 98.6881
813 3 168 0.0000 931260480 98.6881
815 33 1241864 0.1316 931260312 98.6881
817 1 16 0.0000 930018448 98.5565
818 1 16 0.0000 930018432 98.5564
820 34 2400 0.0003 930018416 98.5564
822 3 240 0.0000 930016016 98.5562
823 5 352 0.0000 930015776 98.5562
824 8 536 0.0001 930015424 98.5561
825 26783 889612896 94.2746 930014888 98.5561
9999 444183 40401992 4.2815 40401992 4.2815
TOTAL 473288 943640368 100.0000

The Basis of allocation was finalized in consultation with the National Stock Exchange of India Limited ("NSE") on December 3, 2007. The IPO Committee of Directors of the Company at its meeting held on December 4, 2007 approved the Basis of allocation of Equity Shares in the Issue and has allotted Equity Shares to various successful applicants. The final demand at different bid prices and allocation of Equity Shares in various categories are as follows:

A) Allocation to Non Institutional Bidders:

This category (net of technical rejections) was subscribed 157.277520 times. The total number of Equity Shares Allotted in this category is 8,18,154 Equity Shares to 1078 successful applicants. The category wise details of the Basis of allocation in this category are as under (Sample):

Category No. of
Applications
% to total No. of
Equity Shares
applied
% to total No. of
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
128 98 6.82 12544 0.01 8 10:98 80
136 27 1.88 3672 0 8 1:9 24
144 17 1.18 2448 0 8 2:17 16
152 3 0.21 456 0 8 1:3 8
160 25 1.74 4000 0 8 3:25 24
1584 1 0.07 1584 0.00 10 FIRM 10
1800 4 0.28 7200 0.01 12 FIRM 48
2056 1 0.07 2056 0.00 13 FIRM 13
2480 4 0.28 9920 0.01 16 FIRM 64
2920 1 0.07 2920 0.00 19 FIRM 19
3184 1 0.07 3184 0.00 20 FIRM 20
4088 1 0.07 4088 0.00 26 FIRM 26
4856 2 0.14 9712 0.01 31 FIRM 62
6032 1 0.07 6032 0.00 38 FIRM 38
6664 1 0.07 6664 0.01 42 FIRM 42
8400 1 0.07 8400 0.01 53 FIRM 53
10176 1 0.07 10176 0.01 65 FIRM 65
12056 1 0.07 12056 0.01 77 FIRM 77
16968 1 0.07 16968 0.01 108 FIRM 108
24320 1 0.07 24320 0.02 155 FIRM 155
28488 1 0.07 28488 0.02 181 FIRM 181
33848 1 0.07 33848 0.03 215 FIRM 215
36376 2 0.14 72752 0.06 232 FIRM 464
40480 1 0.07 40480 0.03 257 FIRM 257
124200 1 0.07 124200 0.10 790 FIRM 790
130000 1 0.07 130000 0.10 827 FIRM 827
158360 1 0.07 158360 0.12 1007 FIRM 1007
183000 1 0.07 183000 0.14 1164 FIRM 1164
202000 2 0.14 404000 0.31 1285 FIRM 2570
239880 2 0.14 479760 0.37 1525 FIRM 3050
276000 1 0.07 276000 0.21 1755 FIRM 1755
304000 2 0.14 608000 0.47 1933 FIRM 3866
424000 1 0.07 424000 0.33 2696 FIRM 2696
515176 1 0.07 515176 0.40 3276 FIRM 3276
630296 1 0.07 630296 0.49 4008 FIRM 4008
793000 1 0.07 793000 0.62 5042 FIRM 5042
945360 1 0.07 945360 0.73 6011 FIRM 6011
1212000 1 0.07 1212000 0.94 7706 FIRM 7706
1820000 1 0.07 1820000 1.41 11572 FIRM 11572

B) Allocation to Retail Individual Bidders:

This category (net of technical rejections) was subscribed 16.694374 times. The total number of Equity Shares Allotted In this category is 2,454,488 Equity Shares to 306811 successful applicants. The category wise details of the Basis of allocation in this category are as under:

Category No. of Applications % to total No. of
Equity Shares
applied
% to total No. of
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
8 29104 6.42 232832 0.57 8 3:50 14000
16 21082 4.65 337312 0.82 8 3:25 20248
24 16906 3.73 405744 0.99 8 9:50 24352
32 12569 2.77 402208 0.98 8 6:25 24136
40 14153 3.12 566120 1.38 8 3:10 33984
48 8495 1.88 407760 1.00 8 9:25 24464
56 29648 6.54 1660288 4.05 8 21:50 99616
64 13043 2.88 834752 2.04 8 12:25 50088
72 3990 0.88 287280 0.70 8 27:50 17248
80 8872 1.96 709760 1.73 8 3:5 42584
88 2726 0.60 239888 0.59 8 33:50 14392
96 4203 0.93 403488 0.98 8 18:25 24208
104 3703 0.82 385112 0.94 8 39:50 23104
112 4788 1.06 536256 1.31 8 21:25 32176
120 279727 61.75 33567240 81.92 8 97:108 2009888

C) Allocation to Eligible Employees

This category (net of technical rejections) was subscribed 10.027222 times. The total number of Equity Shares Allotted in this category is 20,45,40 Equity Shares to 773 successful applicants. The category wise details of the Basis of allocation in this category are as under (Sample):

Category No. of
Applications
% to total No. of
Equity Shares
applied
% to total No. of
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
120 52 6.73 6240 0.30 11 FIRM 572
128 1 0.13 128 0.01 13 FIRM 13
208 1 0.13 208 0.01 21 FIRM 21
224 3 0.39 672 0.03 22 FIRM 66
320 3 0.39 960 0.05 32 FIRM 96
496 4 0.52 1984 0.10 50 FIRM 200
648 3 0.39 1944 0.09 65 FIRM 195
848 3 0.39 2544 0.12 85 FIRM 255
1128 1 0.13 1128 0.06 112 FIRM 112
1440 1 0.13 1440 0.07 144 FIRM 144
1880 1 0.13 1880 0.09 187 FIRM 187
2504 2 0.26 5008 0.24 250 FIRM 500
3000 5 0.65 15000 0.73 299 FIRM 1495
3696 1 0.13 3696 0.18 369 FIRM 369
4320 1 0.13 4320 0.21 431 FIRM 431
4800 4 0.52 19200 0.94 479 FIRM 1916
4880 1 0.13 4880 0.24 487 FIRM 487
4944 1 0.13 4944 0.24 493 FIRM 493
5000 283 36.61 1415000 68.99 498 FIRM 140934

D) Allocation to Qualified Institutional Buyers:

Category Financial Institutional/Banks Mutual Funds Foreign Institutional Investors Insurance Companies VCs
No. of Equity Shares 714159 836213 3041084 307988 9521

The CAN/Refund Orders, intimation regarding refund through electronic mode (ECS, RTGS, NEFT or direct credit) and Allotment advice and notices due to applicants have been dispatched to the address of the investors as registered with the depositories on December 5, 2007. 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, Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on December 5, 2007. The listing applications have been filed with the BSE and NSE on December 5, 2007 and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within seven working days from the date of approval of the Basis of allocation.

Investors Please Note:

The details of allocation made would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at www.lntimespectrum.com

Further correspondence in respect of allotment of Equity Shares pertaining to the Issue may be addressed to the Registrar to the issue, Intime Spectrum Registry Limited, 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, Place where the Bid was submitted and payment details at the address given below:

Intime Spectrum Registry Ltd.,
C-13, Pannalal Silk Mills Compound,
L.B.S. Road, Bhandup West,
Mumbai - 400 078.
Tel.: (022) 2596 0320 Fax: (022) 2596 0329
E-mail: rjlipoipo@intimespectrum.com
Contact Person: Mr. Sachin Achar

For Edelweiss Capital Limited
On Behalf of the Board of Directors
Sd/-
Authorized Signatory

Place : Mumbai
Date : December 7, 2007

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OFTHE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF EDELWEISS CAPITAL LIMITED

Edelweiss IPO Basis of Allotment FAQs

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

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

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

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

  3. 3. What is Edelweiss IPO allotment process?

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