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IVR Prime IPO Details

Issue Open Jul 23, 2007
Issue Close Jul 26, 2007
IPO Price ₹550
Face Value ₹10
IPO Size ₹778.25 Cr
Listing At BSE, NSE
IPO Lot Size 10

IVR Prime Urban Developers Limited

(Incorporated as IVR Realtors Limited on June 28,1996. The name of the company changed to IVR-Prime Urban Developers Limited on January 16, 2001. Subsequently, the name was changed to IVR Prime Urban Developers Limited
on June 12, 2006)
Regd. Office: M-22/3RT, Vijayanagar Colony, Hyderabad 500 057.
Contact Person: S. Srinivas Rao Tel:+91-40- 2349 5000, Fax:+91-40- 2349 5215.
email: investors@ivrprime.com: Website: www.ivrprime.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,41,50,000 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 550/- PER EQUITY- SHARE (INCLUDING SHARE PREMIUM OF RS. 540/- PER EQUITY SHARE) AGGREGATING TO RS. 7,782.50 MILLION (REFERRED TO AS 'THE ISSUE') BY IVR PRIME URBAN DEVELOPERS LIMITED (THE 'COMPANY' OR THE 'ISSUER'). THE ISSUE COMPRISED A NET ISSUE TO THE PUBLIC OF 14,000,000 SHARES AND RESERVATION OF 1,50,000 SHARES FOR SUBSCRIPTION BY EMPLOYEES. THE ISSUE CONSTITUTES 22.06% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY. THE NET ISSUE CONSTITUTES 21.82% OF THE FULLY DILUTED POST ISSUE CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS. 10/-.
THE ISSUE PRICE PER EQUITY SHARE IS RS. 550/- AND IT IS 55 TIMES 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, up to 10% of the net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 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 85745 applications for 7,77,02,563 equity shares resulting in 5.49 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 75 70214990 8.3589
Non Institutional Investors 238 1737350 1.2410
Retail Individual Investors 85345 5642508 1.3435
Employees 87 107715 0.7181

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
510 12111680 14.88 81387910 100.00
511 30 0.00 69276230 85.12
512 30 0.00 69276200 85.12
513 4870 0.01 69276170 85.12
514 10 0.00 69271300 85.11
515 10170 0.01 69271290 85.11
520 280 0.00 69261120 85.10
525 3810220 4.68 69260840 85.10
526 410 0.00 65450620 80.42
528 500 0.00 65450210 80.42
530 570 0.00 65449710 80.42
531 20 0.00 65449140 80.42
533 120 0.00 65449120 80.42
540 25450 0.03 65449000 80.42
545 40 0.00 65423550 80.38
549 10 0.00 65423510 80.38
550 11134360 13.68 65423500 80.38
553 10 0.00 54289140 66.70
555 1303540 1.60 54289130 66.70
556 10 0.00 52985590 65.10
560 6535790 8.03 52985580 65.10
564 190 0.00 46449790 57.07
565 40 0.00 46449600 57.07
570 1940 0.00 46449560 57.07
575 21520 0.03 46447620 57.07
580 3210 0.00 46426100 57.04
585 340 0.00 46422890 57.04
588 570 0.00 46422550 57.04
590 1260 0.00 46421980 57.04
595 850 0.00 46420720 57.04
599 20 0.00 46419870 57.04
Cut Off Price Rs. 600 46419850 57.04 46419850 57.04
81387910 100.00

The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited ('NSE') on 7th August, 2007.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 0.7173 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allottedin this category is 1,07,600 Equity Shares to 86 successful applicants. The unsubscribed portion of 42,400 equity shares has been added to QIBs, Retail and Non-Institutional categories. 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
20 4 4.65 80 0.07 20 FIRM 80
300 4 4.65 1200 1.12 300 FIRM 1200
500 1 1.16 500 0.46 500 FIRM 500
600 1 1.16 600 0.56 600 FIRM 600
700 1 1.16 700 0.65 700 FIRM 700
850 1 1.16 850 0.79 850 FIRM 850
900 1 1.16 900 0.84 900 FIRM 900
1000 7 8.14 7000 6.51 1000 FIRM 7000
1200 1 1.16 1200 1.12 1200 FIRM 1200
1600 1 1.16 1600 1.49 1600 FIRM 1600
1700 1 1.16 1700 1.58 1700 FIRM 1700
3600 1 1.16 3600 3.35 3600 FIRM 3600
20000 1 1.16 20000 18.59 20000 FIRM 20000
50000 1 1.16 50000 46.47 50000 FIRM 50000

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. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 1.3153 times. The total number of shares allotted in this category is 42,00,390 Equity Shares (including 390 equity shares spilled over from employees category) to 78348 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
10 19396 23.22 193960 3.51 10 11:15 142240
20 12084 14.47 241680 4.37 15 FIRM 181260
ADDITIONAL 1 1:66 184
30 6744 8.07 202320 3.66 23 FIRM 155112
40 4153 4.97 166120 3.01 30 FIRM 124590
50 5747 6.88 287350 5.20 38 FIRM 218386
60 1862 2.23 111720 2.02 46 FIRM 85652
70 1100 1.32 77000 1.39 53 FIRM 58300
\80 8282 9.92 662560 11.99 61 FIRM 505202
90 731 0.88 65790 1.19 68 FIRM 49708.
100 3167 3.79 316700 5.73 76 FIRM 240692
110 284 0.34 31240 0.57 84 FIRM 23856
120 414 0.50 49680 0.90 91 FIRM 37674
130 141 0.17 18330 0.33 99 FIRM 13959
140 ' 132 0.16 18480 0.33 106 FIRM 13992
150 701 0.84 105150 1.90 114 FIRM 79914
160 18343 21.96 2934880 53.12 122 FIRM 2237846
170 115 0.14 19550 0.35 129 FIRM 14835
180 124 0.15 22320 0.40 137 FIRM 16988

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. 550 per Equity Share, was finalized in consultation with NSE. The category was subscribed to the extent of 1.0511 times. The total number of shares allotted in this category is 1400390 Equity Shares (including 390 equity shares spilled over from employee category) to 188 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
200 26 13.83 5200 0.35 190 FIRM 4940
700 2 1.06 1400 0.10 666 FIRM 1332
4000 3 1.60 12000 0.82 3806 FIRM 11418
10000 10 5.32 100000 6.79 9514 FIRM 95140
20000 1 0.53 20000 1.36 19028 FIRM 19028
20830 1 0.53 20830 1.42 19818 FIRM 19818
33330 2 1.06 66660 4.53 31711 FIRM 63422
40000 1 0.53 40000 2.72 38056 FIRM 38056
50000 4 2.13 200000 13.59 47570 FIRM 190280
54540 1 0.53 54540 3.71 51891 FIRM 51891
83350 1 0.53 83350 5.66 79300 FIRM 79300
90910 2 1.06 181820 12.35 86493 FIRM 172986
100000 1 0.53 100000 6.79 95142 FIRM 95142

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with NSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (4,22,081) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (80,19,539) on proportionate basis.

Category Fls/Banks MFs Flls Total
No.of Shares 509603 1420590 6511427 8441620

The Committee of Directors of the company at it's meeting held at Hyderabad on 8th August, 2007 has approved the basis of allocation of shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) are in the process of being 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 allotment.

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: IVR Prime
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: Hyderabad
Date:  August 8, 2007

For IVR PRIME URBAN DEVELOPERS LTD
Sd/-
S Srinvasa Rao
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 IVR PRIME URBAN DEVELOPERS LIMITED.

IVR Prime IPO Basis of Allotment FAQs

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

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

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