KNR Constructions IPO Basis of Allotment

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

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)

*-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:

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

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:

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:

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.

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

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.