Kaushalya IPO Details

Issue Open Nov 20, 2007
Issue Close Nov 23, 2007
IPO Price ₹60
Face Value ₹10
IPO Size ₹51.00 Cr
Listing At BSE, NSE
IPO Lot Size 100

KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED

(TheCompany was originally incorporated on 4th June 1992 as R.M.S. Exim Private Limited with the Registrar of Companies, West Bengal, Kolkata under the Companies Act 1956. The name of the Company was changed to Kaushalya Infrastructure Development Corporation Private Limited and a fresh Certificate of Incorporation was obtained on 5th November 2001 from the Registrar of Companies, West Bengal, Kolkata. The Company was subsequently converted into a public limited company under section 44 of the Companies Act, 1956 and received a fresh certificate of incorporation on 7th February 2002 and the name of the Company was changed to Kaushalya Infrastructure Development Corporation Limited).

Registered Office: HB170, Sector III, Salt Lake Kolkata - 700106 India
Telephone: +91 33 2358 3694,2334 4166 Fax: +9133 2334 4148
Email: info@kaushalyainfrastructure.com Website: www.kaushalyainfrastructure.com
Contact Person /Compliance Officer: Mr A B Chakrabartty,Company Secretary

PUBLIC ISSUE OF 85,00,000 EQUITY SHARES OF Rs. 10 EACH ("EQUITY SHARES") FOR CASH AT A PRICE OF RS. 60/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 50/- PER EQUITY SHARE) AGGREGATING RS. 5100 LAKHS. THE ISSUE COMPRISED A RESERVATION FOR ELIGIBLE EMPLOYEES OF UPTO 4,75,000 EQUITY SHARES OF RS. 10 EACH (THE "EMPLOYEE RESERVATION PORTION") AND THE NET ISSUE TO THE PUBLIC OF 80,25,000 EQUITY SHARES OF RS.10/- EACH (THE "NET ISSUE"). THE ISSUE CONSTITUTED 43.35% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY. THE NET ISSUE TO THE PUBLIC CONSTITUTED 40.93% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF THE COMPANY

THE ISSUE PRICE OF THE EQUITY SHARES IS RS. 60/- PER EQUITY SHARE WHICH IS 6.0 TIMES THE FACE VALUE OF THE EQUITY SHARES

The Issue was made through the 100% Book Building Process wherein upto 50% of the Net Issue to the public was to be allocated on a proportionale basis to Qualified Institutional Buyers ("QIBs") (including 5% of the QIB portion that would be specifically reserved for Mutual Funds). Further, not less than 15% of the Net Issue was to be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% ol the Net Issue was to 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 opened for subscription on November 20,2007 and closed on November 23,2007. The Issue received 39115 applications for 5,00,13,800 Equity Shares resulting in 5.8840 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional Bidders, Retail Individual Bidders and Eligible Employee categories are as under: Before Technical & Multiple Rejections)

Category No. of Applications No. of Shares bid Subscription
Qualified Institutional Buyers 9 11405400 2.8425
Non-Institutional Bidders 92 11635500 9.6660
Retail Individual Bidders 39002 26495800 9.4333
Employees 12 477100 1.0044

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
50 161100 0.2619 61521800 100.0000
51 21700 0.0353 61360700 99.7381
52 8800 0.0143 61339000 99.7029
53 1500 0.0024 61330200 99.6886
54 3100 0.0050 61328700 99.6861
55 151700 0.2466 61325600 99.6811
56 3700 0.0060 61173900 99.4345
57 5800 0.0094 61170200 99.4285
58 24600 0.0400 61164400 99.4191
59 4800 0.0078 61139800 99.3791
60 34206500 55.6006 61135000 99.3713
9999 2692S500 43.7707 26928500 43.7707
TOTAL 61521800

The Basis of Allotment was finalised in consultation with the Designated Stock Exchange Bombay Stock Exchange Limited
("BSE") on Thursday 6,2007.
A) Allocation to Employees
The Basis of Allotment to the Employees in the Firm Allotment category, who bid at the cut-off price or at the Issue Price of Rs. 60 per Equity Share, was finalized in consultation with the BSE. The Company received 12 valid applications for 4,77,100 Equity Shares as against a Firm Allotment portion of 4,75,000 Equity Shares resulting in 1.004421 times subscription. The category wise details of the Basis of Allotment are given below

Category No.of Applns. % to Total No. of Equity Shares Applied % to Total No. of Equity Shares Allocated Ratio Total No. of Equity Shares Allocated
1200 1 8.33 1200 0.25 1195 FIRM 1195
2000 2 16.67 4000 0.84 1991 FIRM 3982
2400 1 8.33 2400 0.50 2389 FIRM 2389
9100 1 8.33 9100 1.91 9060 FIRM 9060
10000 1 8.33 10000 2.10 9956 FIRM 9956
45600 1 8.33 45600 9.56 45399 FIRM 45399
48800 1 8.33 48800 10.23 48585 FIRM 48585
51000 1 8.33 51000 10.69 50776 FIRM 50776
90000 1 8.33 90000 18.86 89604 FIRM 89604
105000 1 8.33 105000 22.01 104538 FIRM 104538
110000 1 8.33 110000 23.06 109516 FIRM 109516

B) Allocation to Retail Investors
The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price or at the Issue Price of Rs. 60 per Equity Share, was finalized in consultation with the BSE. The Company received 38,164 valid applications for 2,61,22,100 Equity Shares in this category resulting in 9.300258 times subscription. The total number of Equity Shares allotted in this category is 28,08,754. Thecategory wise details ol the Basis of Allotment are given below.

Category No.of Applns. % to total Total No. of
Equity Shares
applied
% to total No. of Shares
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
100 9284 24.33 928400 3.55 100 10:93 99800
200 5324 13.95 1064800 4.08 100 20:93 114500
300 3053 8.00 915900 3.51 100 10:31 98500
400 1782 4.67 712800 2.73 100 40:93 76600
500 2468 6.47 1234000 4.72 100 50:93 132700
600 893 2.35 538800 2.06 100 20:31 57900
700 535 1.40 374500 1.43 100 70:93 40300
800 2606 6.83 2084800 7.98 100 80:93 224200
900 527 1.38 474300 1.82 100 30:31 51000
1000 1123 2.94 1123000 4.30 108 FIRM 121284
1100 194 0.51 213400 0.82 118 FIRM 22892
1200 169 0.44 202800 0.78 129 FIRM 21801
1300 75 0.20 97500 0.37 140 FIRM 10500
1400 71 0.19 99400 0.38 150 FIRM 10650
1500 303 0.79 454500 1.74 161 FIRM 48783
1600 9752 25.55 15603200 59.73 172 FIRM 167734

C) Allocation to Non-Institutional Investors
The Basis of Allotment to the Non Institutional Bidders, who bid at the cut-price or at the Issue price of Rs. 60 per Equity Share, was finilized in consultation with the BSE. The company received 90 valid applications for 1,16,15,300 equity shares in this category is 12,03,746. The category wise details of the Basis of Allotment are given below

Category No.of Applns. % to total Total No. of
Equity Shares
applied
% to total No. of Shares
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
1700 8 8.89 13600 0.12 176 FIRM 1408
1800 2 2.22 3600 0.03 186 FIRM 372
2000 6 6.67 12000 0.10 207 FIRM 1242
2100 1 1.11 2100 0.02 218 FIRM 218
3000 2 2.22 6000 0.05 311 FIRM 622
3200 1 1.11 3200 0.03 332 FIRM 332
3300 1 1.11 3300 0.03 342 FIRM 342
4200 1 1.11 4200 0.04 435 HRM 435
4600 1 1.11 4600 0.04 477 FIRM 477
7900 1 1.11 7900 0.07 819 FIRM 819
8300 4 4.44 33200 0.29 860 FIRM 3440
10000 1 1.11 10000 0.09 1036 FIRM 1036
15000 2 2.22 30000 0.26 1555 FIRM 3110
16600 2 2.22 33200 0.29 1721 FfRM 3442
16700 2 2.22 33400 0.29 1731 FIRM 3462
17700 1 1.11 17700 0.15 1834 FIRM 1834
20000 1 1.11 20000 0.17 2073 FIRM 2073
20700 1 1.11 20700 0.18 2145 FIRM 2145
23500 1 1.11 23500 0.20 2435 FIRM 2435
25000 2 2.22 50000 0.43 2591 FIRM 5182
27700 1 1.11 27700 0.24 2871 FIRM 2871
31000 1 1.11 31000 0.27 3213 FIRM 3213
33300 4 4.44 133200 1.15 3451 FIRM 13804
41600 3 333 124800 1.07 4311 FIRM 12933
41700 3 3.33 125100 1.08 4322 FIRM 12966
44100 1 1.11 44100 0.38 4570 FIRM 4570
47000 1 1.11 47000 0.40 4871 FIRM 4871
50000 1 1.11 50000 0.43 5182 FIRM 5182
66700 1 1.11 66700 0.57 6912 FIRM 6912
83300 2 2.22 166600 1.43 8633 FIRM 17266
83400 1 1.11 83400 0.72 8643 FIRM 8643
90000 1 1.11 90000 0.77 9327 HRM 9327
100000 1 1,11 100000 0.86 10363 FIRM 10363
116000 1 1.11 116000 1.00 12022 FIRM 12022
150000 1 1.11 150000 1.29 15545 FIRM 15545
166600 5 5.56 833000 7.17 17266 FIRM 86330
250000 4 4.44 1000000 8.61 25909 FIRM 103636
266600 1 1.11 266600 2.30 27629 FIRM 27629
283300 1 1.11 283300 2.44 29360 FfRM 29360
300000 1 1.11 300000 2.58 31090 FIRM 31090
333000 1 1.11 333000 2.87 34510 FIRM 34510
333200 1 1.11 333200 2.87 34531 FIRM 34531
333300 3 3.33 999900 8,61 34541 FIRM 103623
350000 1 1.11 350000 3.01 36272 FIRM 36272
410000 3 3.33 1230000 10.59 42490 FIRM 127470
666000 1 1.11 666000 5.73 69021 FIRM 69021
833000 3 3.33 2499000 21.51 86327 FIRM 258981
833500 1 1.11 833500 7.18 86379 FIRM 86379

D)Allocation to QIBs
AlkxatontoQIBs was dorfflonaproportcrate basis. As pertteSE Over From Mutual Funds and other unsatisfied demands is included in this category(200625 Equity Shares). So the Total Allotment done in this category is 40,12,500 Equity Snares.

Category Fls/NB's MFs Flls Insurance Companies VC's Total
No. of Shares 293126 - 3596242 - 123132 4012500

The meeting held In Kolkata, on December 6,2007 approved the Basis of Allotment of Equity Shares In the Issue and recommended the allotment of Equity Shares to successful applicants.
The CAN-cum-Refund orders and ECS/RTGS/NEFT/Direct credit intimation and notices (wherever applicable) have been dispatched to the addresses of the Investors as registered with the depositories. In case the same are 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 allocated to the 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of Basis of Allotment.

INVESTORSPLEASEHOTE

These details of the allocation will also be available on the website of the Regjstrart to the Issue, IntimeSpectrum Registry limited, at http://wvw.intimespectrum.com.
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting the full name of the First/Sole applicants, 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:

Intlme Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup (West), Mumbai 400078
Phone: (91-22) 2596 0320; Fax: (91 -22) 2596 0329 Email: kdcl.ipo@intimespectrum.com, Website:www.intimespectrum.com

Place: Kolkata
Date: December 7,2007
For Kaushatya Infrastructure Development Corporation Limited
Sd/
Chairman

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 KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED

Kaushalya IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Kaushalya IPO?

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

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

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

  3. 3. What is Kaushalya IPO allotment process?

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