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KNR Constructions IPO Details

Issue Open Jan 24, 2008
Issue Close Jan 29, 2008
IPO Price ₹180
Face Value ₹10
IPO Size ₹133.87 Cr
Listing At BSE, NSE
IPO Lot Size 35

K N R Constructions Limited

(Our company was incorporated as KNR Construction limited vide certification of incorporation on july 11,1655 beeing number 01-21016 under the companies act, 1956 and has been allotted CIN U74210AP1995PLC021016. Our registered office was shifted from Plot No. D-26, Madhuranagar, Hyderabad to Plot No. 609, Aditya Enclave, Nilgiri Block, Ameerpet, Hyderabad w.e.f. May 21,1998 and thereafter to our present registered office at 6-3-635,3rd Floor, Akash Ganga, Khairatabad, Hyderabad w.e.f. August 25,2000.)
Registered Office: KNRConstrunctions Limited, 6-3-635,3rd floor, AkashGanga, Khairatabad Hyderabad 500 004, Andhra Pradesh. Tel: +91 40 66669379 Fax:+91 40 66669349;
Corporate Office: KNR Constructions Limited, 12th sqaure building, 3rd floor, Road no.12, Banjara Hills, Hyderabad-500034: +91-40-23323435/36/37 Fax: +91-40-23323439
Contact Person: Mr.M.V.Venkata Rao, Company Secretary and compliance officer Tel:+91-40-23323435/36/37 Fax:+91-40-23323439. Email:ipo@knrcl.com   Website:www.knrcl.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 7,874,570 EQUITY SHARES OF RS.10/- EACH FOR CASH AT A PRICE OF RS.170 PER EQUITY SHARE AGGREGATING RS. 1338.68 MILLION (THE 'ISSUE'), INCLUDING A RESERVATION FOR ELIGIBLE EMPLOYEES OF 140,000 EQUITY SHARES (THE 'EMPLOYEE RESERVATION PORTION') AND A NET ISSUE TO THE PUBLIC OF 7,734,570 EQUITY SHARES (THE 'NET ISSUE') BY KNR CONSTRUCTIONS LIMITED ('COMPANY'/'ISSUER'). THE ISSUE WOULD CONSTITUTE 28.00% OF THE FULLY DILUTED POST ISSUE PAID UP CAPITAL OF OUR COMPANY. THE NET ISSUE WOULD CONSTITUTE 27.50% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF OUR COMPANY.
ISSUE PRICE: RS. 170 PER EQUITY SHARE OF FACE VALUE RS.10 EACH
THE ISSUE PRICE IS 17 TIMES OF THE FACE VALUE

The Issue is being made through the 100% Book Building Process wherein up to 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIB Bidders), of which 5% shall be available for Allocation on a proportionate basis to Mutual Funds only. Further, not less than 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders and not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders, subject to valid Bids being received at or above the Issue Price. Further, 140,000 Equity Shares shall be available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 5948 bids/applications for 9729195 equity shares resulting in 1.2355 times subscription. The details of the valid bids/ applications received in the Issue from Retail Bidders, Non- Institutional Bidders, Qualified Institutional Buyers and Eligible Employees are as under: (Before technical rejections)

Category No. of Bids/Applications No. of Equity Shares Subscription (no. of times)
Retail Individual bidders 5847 644910 0.2382
Non-Institutional bidders 28* 3683995 3.1754
Qualified Institutional Buyers 22 5317445 1.3750
Employee bidders 51 82845 0.5918

*-Including 2 (two) applications which were revised.
Final Demand
A summary of the final demand at various price levels as per the electronic book is given below:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to Total
170 259420 2.6212 9897090 100.0000
171 140 0.0014 9637670 97.3788
172 525 0.0053 9637530 97.3774
173 105 0.0011 9637005 97.3721
174 35 0.0004 9636900 97.3710
175 7035 0.0711 9636865 97.3707
176 245 0.0025 9629830 97.2996
179 35 0.0004 9629585 97.2971
180 8944600 90.3761 9629550 97.2968
CUTOFF 684950 6.9207 684950 6.9207
TOTAL 9897090

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited (BSE) on Friday, February 08, 2008
A) Allocation to Retail investors: (After technical rejections)
The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue price of Rs.170/- Equity Share, was finalized in consultation with BSE. The category was subscribed 0.234841 times. The total number of equity shares allotted in this category is 635740. The sample of category-wise details of the Basis of Allocation are as unders

Category No. of Applications % to Total Total No. of Shares applied % to Total Proportional Allocation Ratio Total No. of
Shares allocated
35 2903 50.53 101605 15.98 35 FIRM 101605
70 928 16.15 64960 10.22 70 FIRM 64960
105 536 9.33 56280 8.85 105 FIRM 56280
140 333 5.80 46620 7.33 140 FIRM 46620
175 126 2.19 22050 3.47 175 FIRM 22050
210 106 1.85 22260 3.50 210 FIRM 22260
245 188 3.27 46060 7.25 245 FIRM 46060
260 120 2.09 33600 5.29 280 FIRM 33600
315 31 0.54 9765 1.54 315 FIRM 9765
350 82 1.43 28700 4.51 350 FIRM 28700
385 6 0.10 2310 0.36 385 FIRM 2310
420 6 0.10 2520 0.40 420 FIRM 2520
455 6 0.10 2730 0.43 455 FIRM 2730
490 6 0.10 2940 0.46 490 FIRM 2940
525 364 6.34 191100 30.06 525 FIRM 191100
560 4 0.07 2240 0.35 560 FIRM 2240

B. Allocation to Non-institutional Investors: (After Technical Rejections)
The Basis of Allocatiori to the Non-Institutional Investors, who have bid at cut-off or at the Issue Price of Rs.170/- per Equity Share, was finalized in consultation with BSE. The category was subscribed.1.430179 times. The total number of equity shares allotted in this category is 2561340 including Spill over from Employee Category (37620 Equity Shares) and Retail Category (1363535 Equity Shares) to successful applicants. A sample of category-wise details of the Basis of Allocation are as under:

Category No. of
Applications
% to
Total
Total No. of
Shares applied
% to
Total
Proportional
Allocation
Ratio Total No. of
Shares allocated
560 1 5.56 560 0.02 392 FIRM 392
1680 1 5.56 1680 0.05 1175 FIRM 1175
1925 1 5.56 1925 0.05 1346 FIRM 1346
2765 4 22.22 11060 030 1934 FIRM 7736
3255 1 5.56 3255 0.09 2276 FIRM 2276
4410 1 5.56 4410 0.12 3084 FIRM 3084
5950 1 5.56 5950 0.16 4161 FIRM 4161
8050 1 5.56 8050 0.22 5630 FIRM 5630
10010 1 5.56 10010 0.27 7000 FIRM 7000
14000 2 11.11 28000 0.76 9790 FIRM 19580
27650 1 5.56 27650 0.75 19336 FIRM 19336
391125 2 11.11 782250 21.36 273525 FIRM 547050
2777775 1 5.56 2777775 75.84 1942574 FIRM 1942574

C) Allocation to Employees:
The Basis of Allocation to the Employee Category, who have bid at cut-off or at and above the Issue price of Rs.170/- Equity Share, was finalized in consultation with BSE. The category was subscribed 0.5917 times. The total number of equity shares allotted in this category is 82,845. The unsubscribed portion (57,155 shares) of Employee Category is added to QIB and HNI Category Respectively. The Category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to Total Total No. of
Shares applied
% to Total Proportional Allocation Ratio Total No. of
Shares allocated
35 1 1.96 35 0.04 35 FIRM 35
385 1 1.96 385 0.46 385 FIRM 385
420 1 1.96 420 0.51 420 FIRM 420
665 1 1.96 665 0.80 665 FIRM 665
1365 1 1.96 1365 1.65 1365 FIRM 1365
1610 1 1.96 1610 1.94 1610 FIRM 1610
2135 1 1.96 2135 2.58 2135 FIRM 2135
2590 2 3.92 5180 6.25 2590 FIRM 5180
2625 1 1.96 2625 3.17 2625 FIRM 2625
4515 1 1.96 4515 5.45 4515 FIRM 4515
6405 1 1.96 6405 7.73 6405 FIRM 6405
7280 1 1.96 7280 8.79 7280 FIRM 7280

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 (193,365) other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (4401280) on proportionate basis. The total number of equity shares allotted In this category is 4594645 including spill over from Employee Category (19535 Equity Shares) and Retail Category (707830 Equity Shares) to successful applicants.

Category Fls/Banks MFs FIIs Foreign Company Insurance Companies VCs Total
No. of Shares 190616 2717197 1686832 - - - 4594645

The IPO Committee of the Company at it's Meeting held in Hyderabad on Saturday February 09, 2008 has approved the Basis of Allocation and has allotted the equity shares to the successful bidders/applicants.
The CAN-cum-Refund Orders have been dispatched on Saturday, February 09, 2008 to the address of the investors as registered with the depositories. In case the same is not received within 10 (ten) days. Investors may contact at the address given below. The Refund Orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The Equity Shares allotted to successful applicants have been credited to their respective beneficiary accounts subject to validation of the account details with the depositories concerned. KNR Constructions Limited is taking steps to get the Equity Shares admitted for trading on Bombay Stock Exchange Limited and National Stock Exchange Limited within seven working days from the date of approval of the Basis of Allocation.
INVESTORS MAY PLEASE NOTE
These details of the allocation / allotment made are being hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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 equity 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:

INTIME SPECTRUM REGISTRY LIMITED
Unit: KNR Constructions Limited:
C-13, Pannalal Silk Mills Compound
LBS Marg, Bhandup (W), Mumbai -400 078 Tel: 91 22 2596 0320, Fax: 91 22 2596 0329
Contact: Person: Mr. Vishwas Attawar E-mail: knr.ipo@intimespectrum.com ; Website: www.intimespectrum.com


Place: Hyderabad
Date: February 11, 2008
For KNR Constructions Limited
On behalf of the Board of Directors
sd/-
K. Narasimha Reddy
Managing Director

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 KNR CONSTRUCTIONS LIMITED.

KNR Constructions IPO Basis of Allotment FAQs

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

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

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