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HDIL IPO Details

Issue Open Jun 28, 2007
Issue Close Jul 3, 2007
IPO Price ₹500
Face Value ₹10
IPO Size ₹1,485.00 Cr
Listing At BSE, NSE
IPO Lot Size 14

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED

(We were incorporated as Housing Development and Improvement India Private Limited on July 25,1996. Our status was subsequently changed to a public limited company by a special resolution of the members passed at the extraordinary general meeting on January 12,2005. The fresh certificate of incorporation consequent to the change of the name was granted to us on february 3,2005 by the Assistant Registrar of companies, Maharashtra, Mumbai. Our name was further changed to Housing Development and Infrastructure Limited by a special resolution of the members passed at the extraordinary general meeting on August 7,2006. The fresh certificate of incorporation consequent to the change of name was granted on August 29,2006, by the Deputy Registrar of Companies, Maharashtra, Mumbai.)
Regd. Office: 9-101, Dheeraj Arma, Anant Kanekar Marg, Bandra (East), Mumbai 400 051. Maharashtra, India.
Tel: +91-22- 2658 3500, Fax: +91-22- 2658 3535,
Email: compliance.officer@hdil.in. Website: www.hdil.in

BASIS OF ALLOCATION

PUBLIC ISSUE OF 29,700,000 EQUITY SHARES OF Rs. 10 EACH OF HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED ('HDIL' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF Rs. 500 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 490 PER EQUITY SHARE) AGGREGATING TO Rs. 14,850 MILLION (THE 'ISSUE'). THE ISSUE COMPRISES A RESERVATION OF UP TO 600,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION') AND AN ISSUE TO THE PUBLIC OF 29,100,000 EQUITY SHARES ('THE NET ISSUE'). THERE WILL ALSO BE A GREEN SHOE OPTION OF UP TO 4,455,000 EQUITY SHARES FOR CASH AT A PRICE,OF RS. 500 PER EQUITY SHARE AGGREGATING TO RS. 2,228 MILLION (THE 'GREEN SHOE OPTION'). THE ISSUE AND THE GREEN SHOE OPTION, IF EXERCISED IN FULL, WILL AGGREGATE TO 34,155,000 EQUITY SHARES AMOUNTING TO RS. 17,078 MILLION. THE NET ISSUE WILL CONSTITUTE 13.86% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY ASSUMING THAT THE GREEN SHOE OPTION IS NOT EXERCISED AND 15.65% ASSUMING THAT THE GREEN SHOE OPTION IS EXERCISED IN FULL.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-

THE ISSUE PRICE PER EQUITY SHARE IS RS. 500/- AND IT IS 50 TIMES OF THE FACE VALUE.
The Issue made through the 100% Book Building Process wherein at least 60% of the net issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was to specifically be allotted to mutual funds), further, 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 Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 1,48,844 applications for 19,06,23,174 equity shares resulting in 5.58 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: (Before technical rejections)

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 98 172448136 8.565
Non Institutional Investors 606 4921078 1.466
Retail Individual Investors 148003 13224084 1.313
Employees 137 29876 0.049

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

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
430 219506 0.11 196013412 100.00
431 210 0.00 195793906 99.89
432 168 0.00 195793696 99.89
433 56 0.00 195793528 99.89
435 1232 0.00 195793472 99.89
436 196 0.00 195792240 99.89
437 1372 0.00 195792044 99.89
438 14 0.00 195790672 99.89
439 14 0.00 195790658 99.89
440 1582 0.00 195790644 99.89
441 98 0.00 195789062 99.89
445 3360 0.00 195788964 99.89
446 1526 0.00 195785604 99.88
448 14 0.00 195784078 99.88
450 1840972 0.94 195784064 99.88
451 28 0.00 193943092 98.94
454 42 0.00 193943064 98.94
455 70 0.00 193943022 98.94
456 84 0.00 193942952 98.94
457 14 0.00 193942868 98.94
460 969206 0.49 193942854 98.94
462 28 0.00 192973648 98.45
465 2184 0.00 192973620 98.45
466 2548 0.00 192971436 98.45
468 14 0.00 192968888 98.45
469 14 0.00 192968874 98.45
470 4970 0.00 192968860 98.45
471 294 0.00 192963890 98.44
475 4421858 2.26 192963596 98.44
476 1694 0.00 188541738 96.19
480 54208 0.03 188540044 96.19
481 56 0.00 188485836 96.16
482 14 0.00 188485780 96.16
485 868 0.00 188485766 96.16
486 196 0.00 188484898 96.16
488 14 0.00 188484702 96.16
490 9268 0.00 188484688 96.16
492 28 0.00 188475420 96.15
493 14 0.00 188475392 96.15
494 0 0.00 188475378 96.15
495 168 0.00 188475378 96.15
499 3010 0.00 188475210 96.15
Cut Off Price Rs.500 188472200 96.15 188472200 96.15
196013412 100.00 0.00

The Basis of Allocation was finalized In consultation with the Bombay Stock Exchange Limited ('BSE') on 16th July, 2007.

A. Allocation to Employees (After Technical Reactions)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.049 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 29,568 Equity Shares to 136 successful applicants. The unsubscribed portion of 5,70,432 equity shares has been added to Retail and Non-Institutional categories in the ratio of 50:50.

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 and above the Issue Price of Rs.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 1.244 times. The total number of shares allotted In this category is 1,03,51,716 Equity Shares (including 285,216 equity shares spilled over from employees category) to 1,37,687 successful applicants. 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
14 28173 19.71 394422 3.06 14 13:16 320474
28 18466 12.92 517048 4.02 23 FIRM 424718
42 12394 8.67 520548 4.04 34 .FIRM 421396
56 8745 6.12 489720 3.80 45 FIRM 393525
70 6871 4.81 480970 3.73 56 FIRM 384776
84 3219 2.25 270396 2.10 68 FIRM 218892
98 22448 15.70 2199904 17.08 79 FIRM 1773392
112 2019 1.41 226128 1.76 90 FIRM 181710
126 591 0.41 74466 0.58 101 FIRM 59691
140 1793 1.25 251020 1.95 112 FIRM 200816
ADDITIONAL 1 17:18 1693
154 476 0.33 73304 0.57 124 FIRM 59024
168 513 0.36 86184 0.67 135 FIRM 69255
182 693 0.48 126126 0.98 146 FIRM 101178
196 36568 25.58 7167328 55.66 157 FIRM 5741176

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 1.33 times. The total number of shares allotted in this-category is 36,40,716 Equity Shares (including 2,85,216 equity shares spilled over from employee category) to 495 successful applicants. 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
210 44 8.89 9240 0.19 158 FIRM 6952
504 36 7.27 18144 0.37 379 FIRM 13644
3010 6 1.21 18060 0.37 2263 FIRM 13578
20006 7 1.41 140042 2.89 15041 RRM 106287
70000 2 0.40 140000 2.89 52627 FIRM 105254
99988 2 0.40 199976 4.13 75173 FIRM 150346
100002 1 0.20 100002 2.07 75183 RRM 75183
149996 2 0.40 299992 6.19 112770 FIRM 225540
199500 1 020 199500 4.12 149987 FIRM 149987
199990 1 0.20 199990 4.13 150356 RRM 150356
200130 1 0.20 200130 4.13 150461 RRM 150461
299600 1 0.20 299600 6.19 225244 RRM 225244
301000 1 020 301000 6.22 226297 RRM 226297
490000 1 0.20 490000 10.12 368340 FIRM 368340

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 (10,06,650) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1,91,26,350) on proportionate basis.

Category Fls/Banks MFs Flls ICs Total
No.of Shares 1191330 1737175 14091079 3113416 20133000

The Committee of Directors of the company at it's meeting held at Hyderabad on 17th July, 2007 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices (where applicable) have 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 company is taking steps to get the equity shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India 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, Karvy Computershare Private Limited at www.karvy.com or http://kcpl.karvy.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:

Karvy Computershare Private Limited
Unit: HDIL, Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur,
Hyderabad - 500081, Fax: 040-23420814
Email: einward.ris@karvy.com

TOLL FREE - HELPLINE NUMBER: 1-800-3454001

 

Place : Mumbai
Date : 18th July, 2007

For HOUSING DEVELOPMENT AND INFRASTRUCTURE LTD
Sd/-
Amitabh Verma
Compliance Officer & 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 HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED.

HDIL IPO Basis of Allotment FAQs

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

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

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