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EIL FPO Details

Issue Open Feb 6, 2014
Issue Close Feb 12, 2014
IPO Price ₹150
Face Value ₹5
IPO Size ₹505.40 Cr
Listing At BSE, NSE
IPO Lot Size 100

ENGINEERS INDIA LIMITED

The Company is a Government Company and was originally incorporated in New Delhi on March, 15, 1965 under the Companies Act, 1956, as a private Limited company under the name 'Engineers India Private Limited' pursuant to a formation agreement dated Novemter 20, 1964 and in  accordance with a memorandum of agreement dated June 27, 1964 between the Government of India and Bechtel International Corporation.

Registered and Corporate Office:
Engineers India Bhawan, 1, Bhikaji Cama Place, New Delhi 110 066, India; Telephone: +91 11 2676 2121; Facsimile:+91 11 2619 8210. For details of changes in our name and registered office, please see 'History and Certain Corporate Matters - Change in our Registered Office' on page 150 of the Prosperous. Company Secretary and Compliance Officer: Mr. Rajan Kapur; Telephone: +91 11 2610 0253; Facsimile: +91 11 26191690; E-mail:company.secretary@eil.co.in; Website: www.engineersindia.com.

BASIS OF ALLOTMENT

FURTHER PUBLIC OFFER OF 33,693,660 EQUITY SHARES OF RS 5 EACH ('EQUITY SHARES') OF ENGINEERS INDIA LIMITED ('EIL' OR 'THE COMPANY') THROUGH AN OFFER FOR SALE BY THE PRESIDENT OF INDIA,  ACTING THROUGH THE MINISTRY OF PETROLEUM AND NATURAL GAS, GOVERNMENT OF INDIA (THE 'SELLING SHAREHOLDER') FOR CASH AT A PRICE OF RS 150* PER EQUITY SHARE AGGREGATING TO  4,973.21** MILLION (THE 'OFFER'). THE OFFER COMPRISES A NET OFFER TO PUBLIC OF 33,191,660 EQUITY SHARES (THE 'NET OFFER') AND A RESERVATION OF 500,00 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION'). THE OFFER SHALL CONSTITUTE 10% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY AND THE NET OFFER SHALL CONSTITUTE 9.85% OF THE POST OFFER PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARES IS RS 5 EACH.

*Price Band of Rs 45 - 150 per equity sheres and a discount of Rs 6 to the Offer Price was offered to Retail Individual Investors ('Retail Discount') and Eligible Employees bidding in the Employee Reservation Portion (the 'Employee Discount'). Pursuant to finalization of the basis of allotment, the Offer Size stands revised to Rs 4,973.21 million mentioned in the Porspectus.

Bid/Offer Opened on February 6, 2014 and Closed on February 12, 2014
The Equity Shares of the Company are listed on the BSE Limited and the National Stock Exchange of India Limited and the trading is expected lo commence on February 28, 2014.

This Offer was made through the Book Building Process where not more than 50% of the Net Offer was allocated on a proportionate basis to Qualified Institutional Buyers Further, subject to valid Bids, 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only. The remainder was available for allocation on a proportionate basis to QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. In addition, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was available for allocation to Retail Individual Bidders, subject to valid Bids being received at or above the Offer Price. Further, 500,00 Equity Shares were available for allocation on a proportionate basis to the Eligible Employees, subject to valid Bids being received from them at or above the Offer Price.

PROMOTER: THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF PETROLEUM AND NATURAL GAS ('MoPNG'), GOVERNMENT OF INDIA

The Offer received 71897 aoolications for 94807084 equity shares resulting in 2.31 times subscriptions. The details of the applications received in the Offer from various categories are as under:

Category No. of
Applications
Shares Amount (Rs.) No. of Times
A Retail Individual Bidders 71555 28287784 4083203902 2.43
B Non Institutional Bidders 31 1126300 168925000 0.23
C Qualified Institutional Bidders 34 65281500 9781505000 3.93
D Employees 277 111500 16112500 0.22
TOTAL 71897 94807084 14049746402 2.81

Final Demand
A summary of the final demand as per the BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') as on the Bid/Offer Closing date at different bid price is as under:

PRICE WISE BIDS REGD.

Sl.No. Bid Price Bids Bids Quantity (%) to Total
1 145 954 2513200 2.537
2 146 137 46200 0.047
3 147 177 68800 0.069
4 148 172 1791300 1.808
5 149 31 1677700 1.694
6 150 4376 66243200 66.874
7 CUTOFF 67871 26717000 26.971
TOTAL 73718 99057400 100.000

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on February 21, 2014

A. Allotment to Eligible Employees (After Technical Rejection) (Including ASBA Applications)
The Basis of Allotment to the Eligible Employees of the Company, who have bid at Cut-off Price or at the Offer Price of Rs 150 per Equity Share was finalized in consultation with BSE. The category was subscribed to the extent of 0.20 times. The total number of shares Allotted in this category is 104200 equity shares to 255 successful applicants. The under subscription in the Employee Reservation Portion was added back to the Net Offer.

B. Allotment to Retail Individual Bidders (After Technieal Rejection) (Including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at Cut-off Price or at the Offer Price of Rs 150 per Equity Share, was finalized on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 2.07 times. The total number of Equity Shares Allotted in the Retail Individual Bidder category is 13368831 Equity Shares, including spillover from Eligible Employee Reservation Category to the extent of 39,081 Equity Shares, Allotted in 70155 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of applications % to total received Total no. of Equity % of total Shares applied No. of Equity Shares Allocated Ratio Total no. of Equity Shares Allocated
100 38,244 54.51 3,824,400 13.79 100 1:1 3,324,400
200 6,335 9.03 1,267,000 4.57 131 1:1 829,885
300 3,430 4.89 1,029,000 3.71 161 1:1 552,230
400 1,748 2 49 699,200 2.52 192 1:1 335,616
500 2,464 3.51 1,232,000 4.44 222 1:1 547,008
600 2242 3.20 1,345,200 4.85 253 1:1 567,226
700 2098 2.99 1,468,600 5.29 284 1:1 595,832
800 463 0.66 370,400 1.34 314 1:1 145,382
900 297 0.42 267,300 0.96 345 1:1 102,465
1000 1211 1.73 1,211,000 4.37 376 1:1 455,336
1100 248 0.35 272,800 0.98 406 1:1 100,688
1200 366 0.52 439,200 1.58 437 1:1 159,942
1300 11009 15.69 14,311,700 51.60 468 1:1 5,152,212
1 5:262 609
Total 70,155 100,00 27,737,800 100,00 13,368,831

C. Allolment to Non Institutional Bidders (AfterTechnical Rejection)

The Basis of Allotment to the Non Institutional Bidders, who have bid at the Offer Price of Rs 150 per Equity share was finalized in consultation with BSE. This category has been subscribed to the extent of 0.222748 times. The total number of equity shares allotted in the Non-Institutional bidder category is 11,22,300 Equity Shares, including spillover from Eligible Employee Category to the extent of 16,749 Equity Shares. Allotted to 29 successful applicants. The category wise details of the Basis of Allolment are as under:

Category No. of
applications
% to total received Total no of Equity % of total Shares applied No. of Equity Shares Allocated Ratio Total no. of Equity Shares Allocated
1400 3 10.34 4,200 0.37 1400 1:1 4,200
1500 1 3.45 1,500 0.13 1500 1:1 1,500
1700 2 6.90 3,400 0.30 1700 1:1 3,400
2000 3 10.34 6,000 0.53 2000 1:1 6,000
3000 1 3.45 3,000 0.27 3000 1:1 3,000
3300 2 6.90 6,600 0.59 3300 1:1 6,600
5000 2 6.90 10,000 0.89 5000 1:1 10,000
6000 1 3.45 6,000 0.53 6000 1:1 6,000
6600 1 3.45 6,600 0.59 6000 1:1 6,600
6700 2 6.90 13,400 1.19 6700 1:1 13,400
7000 1 3.45 7,000 0.62 7000 1:1 7,000
10000 2 6.90 20,000 1.78 10000 1:1 20,000
25000 1 3.45 25,000 2.23 25000 1:1 25,000
50000 1 3.45 50,000 4.46 50000 1:1 50,000
55000 1 3.45 55,000 4.90 55000 1:1 55,000
58000 1 3.45 58,000 5.17 58000 1:1 53,000
80000 1 3.45 80,000 7.13 80000 1:1 80,000
100000 1 3.45 100,000 8.91 100000 1:1 100,000
333300 2 6.90 666,600 59.40 333300 1:1 666,600
Total 29 100.00 1,22,300 100.00 1,122,300

D. Allotment to QIBs (After Technical Rejection)

Allolment to QIBs who have bid at the Offer Price of Rs150 per Equity Share has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 3.427282 times. As per the SEBI Regulations. Mutual Funds were initially Allotted 5% of the quantum of shares available i .a. 954917 Equity Shares including spill over from the Eligible employee Reservation Category and Non- institutional investors to the extent of 125075 Equity Shares and other QIBs were Allotted the remaining available shares i.e. 18143412 Equity Shares including spillover from the Eligible Employee Reservation Category and Non Institutional Investors to the extent of 2376424 Equity Shares. The total number of Equity Shares Allotted In tne QIBCategory is 10093329 Equity Shares which were Allotted 33 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category Fls'Banks Flls MFs ICs VCs Total
QIB 2,236,875 3,428,082 1,992,179 11,441,193 - 19,098,329

The Committee for Further Public Offering of equity shares of the Board of Directors of the Company at its meeting held at Delhi on February 22,2014 has approved the Allotment of Equity Shares of the Offer and has allotted the Equity Shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices have been dispatched on February 24, 2014 to the address of the Bidders as registered with ihe depositories. Further the instructions to the SCSBs have been dispatched / mailed on February 21, 2014. In case the same is not received within ten day,. investors may contact the Registrar at the address given below. The Refund Orders have been over-printed wiih the Bank Account details as registered, if any, with the depositories. The Equity Shares Alloted to successful applicants has been credited on February 24, 2014 to the beneficiary accounts subject to validation of the account details wiih the depositories concerned.

INVESTORS PLEASE NOTE
These details of the allotment made would be hosted on the website of Registrar to the Offer, Karvy Computershare Private Limited at www.karvycomputershare.com

All future correspondence in this regard may kindly be addressed to the Registrar to the offer quoting full name of the First/ Sole applicant. Serial number of the Application-cum-Bidding form, number of shares bid for, name of the Member of the Syndicate and place where the bid was submntcd a 'd payment details at the address given below.

Karvy Computershare Private Limited
SEBI Registration No: INR000001385
Reliance Cyber Villa
Plot 17-24, Vithalrao Nagar Madhapur Hyderabad - 500 018
Tel No: +91 40 44655000, Fax No: +91 40 2343 1551.
Website: www.karvycomputershare.com , Email: www.engineersindia.com

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ENGINEERS INDIA LIMITED
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated February 13, 2014 filed with the Registrar of Companies. NCT of Delhi & Haryara (Prospectus)

Date: February 25, 2014 For ENGINEERS INDIA LIMITED
Sd/-
Director Finance
(Ram Singh)

Engineers. India limited is proposing, subject to market conditions and other considerations, a further public offer for sale by government of India through the Ministry of petrolium and Natural Gas and has filed a Prospectus with the Registrar of Companies at National Capital Territory of Delhi and Haryana. The Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Bank Running Lead Managers at www.icicisecurities.com. www.idfccapital.com and www.investmentbank.kotak.com . Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same. see the section titled 'Risk factors' of the Prospectus. The Equity Shares have not been and will not be registered under the U.S. Securitied Act of 1933, as amended (Ihe 'U.S. Securities Act') and may not be offered or sold within the United Slates or to, or for the account or benefit of U.S. persons (as defined in Regulation S underlhe U.S. Securities Act ('Regulation S') except pursuant to an exemption from, or in a transaction not subject  to, the registration (equipments of the U.S. Securities. Act and applicable state securities laws. The Equity Shares are being offered and sold (i) in the United States only to U.S. persons that are 'qualified institutional buyers' (as defined in Rule 144A under the U. S. Securities Act ('Rule 144 A'). in reliance on the exemption from registration under the U.S. Securities Act provided by Rule 144 A or other available examption and (ii) outside the United Stales, in offshore transactions in reliance on regulations s. No public offering of secuiriies is contemplated in the United States or any jurisdiction outside India.

EIL FPO Basis of Allotment FAQs

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

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

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