ILFS Transportation IPO Basis of Allotment

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)

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:

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:

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:

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.

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.

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