ILFS Transportation IPO Basis of Allotment

ILFS Transportation IPO Details

Issue Open Mar 11, 2010
Issue Close Mar 15, 2010
IPO Price ₹258
Face Value ₹10
IPO Size ₹700.00 Cr
Listing At BSE, NSE
IPO Lot Size 25

IL&FS Transportation Networks Limited

Our company was incorporated under the companies Act 1956 on November 29, 2000 at Mumbai. Presently, the name of our company is 'IL&FS Transportation Networks Limited'  pursuant to a special resolution of the shareholders of our Company dated September 29,2005 and a fresh Certificate of incorporation granted to our Company on October 18,2005 by the Registrar of Companies, Maharashtra, situated at Murnbai. For further details in relation to the change in name of our Company, see the section titled 'History and Certain Corporate Matters' on page 145 of the Prospectus.Registered and Corporate Office: The IL&FS Financial Centre', Plot No. C 22, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051, India Tel: + 91 22 2653 3333. Fax: +91 22 2652 3979. Contact Person and Compliance officer Mr. Krishna Ghag: Tel.:+ 91 22 2653 3333: Fax:+ 91 22 2652 3979: Email: itnlinvestor@ilfsindia.com ; Websit: www.itnlindia.com
Promoter of the Company: Infrastructure Leasing & Financial Services Limited

PUBLIC ISSUE OF 27,131,782 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ('EQUITY SHARES') OF IL&FS TRANSPORTATION NETWORKS LIMITED (THE 'COMPANY') FOR CASH AT A PRICE OF RS. 258 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 248 PER EQUITY SHARE) AGGREGATING UP TO RS. 7,000 MILLION (THE 'ISSUE') CONSISTING OF A FRESH ISSUE OF 22,852,938 EQUITY SHARES BY THE COMPANY AND AN OFFER FOR SALE OF 4,278,844 EQUITY SHARES BY TRINITY CAPITAL (TWO) LIMITED. THE ISSUE WILL CONSTITUTE 13.97 % OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

BID/ISSUE OPENED, THURSDAY, MARCH 11, 2010 CLOSED, MONDAY, MARCH 15, 2010
The Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and Bombay Stock Exchange Limited ('BSE').

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 258/- AND IS 25.8 TIMES THE FACE VALUE

In terms of Rule 19(2)(b) of the SCRR read with Regulation 41(1) ot the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 ('SEBI Regulations'), this being an Issue for less than 25% of the post-Issue equity share capital of our Company, is being made through the 100% Book Building Process wherein at least 60% of the Issue shall be Allotted to QIBs. The Company may allocate up to 30% of the QIB Portion to Anchor Investors at the Anchor Investor Price on a discretionary basis, out of which at least one-third will be available for allocation to domestic Mutual Funds only. In the event of under-subscripiion or non-Allotment in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. 5% of the Net QIB Portion shall be available for allocation to Mutual Funds on a proportionate basis. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price. If at least 60% of the Issue cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Further, not less than 10% of the Issue shall be available for allocation on a proportionate basis to Non- Institutional Bidders and not less than 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 Issue received 150,578 applications for 791,674,825 Equity Shares. As per the bid data, the Issue was subscribed 35.62 times (after removing multiple and duplicate bids). The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares No. of times subscription
Qualified Institutional Buyers 179 650,735,100 57.11
Non Institutional Bidders 483 101,988,075 37.59
Retail individual Bidders 149,916 38,951,650 4.79
Total 150,578 791,674,825 35.62

Further 17 applications for 8,702,000 Equity Shares were received from Anchor Investors, the Issue Period for which opened and closed on March 10,2010.

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

Bid Price No. of Shares % to total Cumulative Total Cumulative % to total
242 3675125 0.4609 797308850 100.0000
243 4150 0.0005 793633725 99.5391
244 1675 0.0002 793629575 99.5385
245 12625 0.0016 793627900 99.5383
246 2525 0.0003 793615275 99.5367
247 725 0.0001 793612750 99.5364
248 13450 0.0017 793612025 99.5363
249 14650 0.0018 793598575 99.5347
250 2101550 0 2636 793583925 99.5328
251 625 0.0001 791482375 99.2692
252 222375 0.0279 791481750 99.2692
253 7725 0.0010 791259375 99.2413
254 21025 0.0026 791251650 99.2403
255 82925 0.0104 791230625 99.2377
256 1875 0.0002 791147700 99.2273
257 1675 0.0002 791145825 99.2270
258 755367025 94.7396 791144150 99.2268
9999 35777125 4.4872 35777125 4.4872
TOTAL 797308850 100.0000

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the NSE on March 24, 2010.

A Allotment to Retail Individual Investors (After Technical Rejections) Including ASBA applications
The Basis ol Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 258/- per Equity Share was finalized in consultation with NSE. The category was over subscribed 4.75 times The total number of shares allocated in this category is 81,39,534 Equity Shares to 1,26,853 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of Applications % to total Total No. of Shares applied % of total No. of Shares allocated Ratio Total No. of Shares allocated
25 15554 10.51 388850 1.01 25 4:19 81900
50 9747 6.58 487350 1.26 25 8:19 102600
75 4961 3.35 372075 0.96 25 12:19 78325
100 9146 6.18 914600 2.36 25 16:19 192550
125 2913 1.97 364125 0.94 26 1:1 75738
150 2955 2 443250 1.15 32 1:1 94560
175 5299 3.58 927325 2.4 37 1:1 196063
200 6148 4.15 1229600 3.18 42 1:1 258216
225 1157 0.78 260325 0.67 47 1:1 54379
250 2097 1.42 524250 1.36 53 1:1 111141
275 688 0.46 189200 0.49 58 1:1 39904
300 1643 1.11 492900 1.27 63 1:1 103609
325 742 0.5 241150 0.62 68 1:1 50456
350 1395 0.94 488250 1.26 74 1:1 103230
375 83601 56.47 31350375 81.06 78 1:1 6620878
1 81:89 76085

B. Allotment to Non Institutional Investors (After Technical Rejections) including ASBA applications
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price of Rs. 258/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 37.56 times. The total number of shares allocated in this category is 27,13,178 Equity Shares to 431 successful applicants. The category-wise details of the Basis of Allocation are (Sample) under:

Category No. of
samples
% to Total Total No. of Shares applied % of Total No. of Shares allocated Ratio Total No. of Shares allocated
400 9 1.97 3600 0.00 25 4:9 100
425 2 0.44 850 0.00 25 1:2 25
450 1 0.22 450 0.00 25 1:1 25
475 1 0.22 475 0.00 25 1:1 25
500 29 6.36 14500 0.01 25 15:29 375
525 4 0.88 2100 0.00 25 1:2 50
575 1 0.22 575 0.00 25 1:1 25
600 3 0.66 1800 0.00 25 2:3 50
650 1 0.22 650 0.00 25 1:1 25
700 2 0.44 1400 0.00 25 1:2 25
775 3 0.66 2325 0.00 25 2:2 50
800 2 0.44 1600 0.00 25 1:1 50
950 1 0.22 950 0.00 25 1:1 25
975 1 0.22 975 0.00 26 1:1 26
10000 4 0.88 40000 0.04 266 1:1 1064
10400 1 0.22 10400 0.01 277 1:1 277
18100 1 0.22 18100 0.02 482 1:1 482
124800 1 0.22 124800 0.12 3322 1:1 3322
410000 3 0.66 1230000 1.21 10915 1:1 32745
600000 2 0.44 1200000 1.18 15973 1:1 31946
1996100 1 0 22 1996100 1.96 53139 1:1 53139
2000000 1 0.22 2000000 1.96 53243 1:1 53243
5038000 1 0.22 5038000 4.94 134109 1:1 134109
13566000 1 0.22 13566000 13.31 361130 1:1 361130

C. Allotment to QIBs
Allotment to QIBs in the Net QIB portion has been done on a proportionate basis in consultation with NSE. As per the SEBI Regulations. Mutual Funds were initially allotted 5% of the quantum of shares available (5,69,767 Equity Shares to 78 successful applicants), and other QIBs were allotted the remaining available shares (1,08,25,583 Equity Shares to 178 successful applicants) on proportionate basis.

Flls Fls/Banks MFs INC/VCFs Total
64,11,335 11,43,720 28,13,220 10,27,075 1,13,95,350

D. Allocation to Anchor Investors
Allocation to Anchor Investors has been done on a discretionary basis in consultation with the BRLMs. As per SEBI Regulations, 30% of QIB Portion (48,83,720 Equity Shares) was allotted to Anchor Investors.

Flls Fls/Banks MFs VCs Total
28,29,458 - 18,02,324 2,51,938 48,83,720

The Board of Directors of the Company has approved by circulation the basis of allocation of shares of the Issue vide the Resolution dated March 25, 2010 and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched on March 26, 2010 to the address 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 allotted 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 Bombay Stock Exchange Limited and the National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the prospectus dated March 18, 2010 ('Prospectus')

INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of Registrar to the Issue, Link Intime India Private Limited at http://www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar 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:

LINK INTIME INDIA PVT LTD
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West),
Mumbai 400 078, India. Tel: +91 22 2596 0320 Fax: +91 22 2596 0329
Email:itnl.ipo@linkintime.co.in Website: www.linkintime.co.in
Contact Person: Mr. Sachin Achar

Place Murnbai
Date: March 26, 2010
For IL&FS Transportation Networks Limited
On behalf of the Board of Directors
Sd/-
Managing Director

ILFS Transportation IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in ILFS Transportation IPO?

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

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

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

  3. 3. What is ILFS Transportation IPO allotment process?

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