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LT Overseas IPO Details

Issue Open Nov 27, 2006
Issue Close Nov 30, 2006
IPO Price ₹56
Face Value ₹10
IPO Size ₹39.40 Cr
Listing At BSE, NSE
IPO Lot Size 125

L .T Overseas Ltd.

(Originally Incorporated as LTOverseas Private Limited on 16th October 1990  with registered office at532/4, Naya Bazaar, Delhi, our Company was converted into a  Public limited Company on 03rd May 1894. The Registered office was shifted from 533/4,Naya Bazaar, Delhi to107,1st floor, Indra Prakash Building, Barakhamba Road, New Delhi, with effect from 10th October 1992. The registered Office was further shifted from 107, 1st floor, Indra Prakash Building,
Barakhamba Road, New Delhi to its current address on 01st April 1996.)

Registered Office:A-21, Green Park, Main Aurobindo Marg, New Delhi-110 016
Tel no:91-11-2685 9244; Fax No: 91-11-2685-9344; Email: Ipo@itoverseas.com; Website: www.Itoverseas.com;
Contact Person:Ms.Monika Chawla Jaggla, Company Secretary and Compliance Officer


BASIS OF ALLOTMENT

PUBLIC ISSUE OF 70,36,714 EQUITY SHARES OF RS. 10/- EACH ISSUED FOR CASH AT A PREMIUM OF RS.46/- PER EQUITY SHARE AND AT A PRICE OF RS. 56/- PER EQURY SHARE AGGREGATING TO RS.394.00 MLLION (HEREINAFTER REFERRED TO AS 'THE ISSUE') INCLUDING EMPLOYEES RESERVATION OF 3,90,000 EQUITY SHARES OF FACE VALUE RS.10/- EACH AT A PRICE OF RS. 56/- FOR CASH AGGREGATING RS. 21.84 MILLION AND NET ISSUE TO THE PUBLIC OF 66,45,714 EQUITY SHARES OF FACE VALUE OF RS10/-EACH AT A PREMUM OF RS. 46/- PER EQUITY SHARE AND AT A PRICE OF RS.56/- PER EQUITY SHARE FOR CASH  AGGREGATING Rs.372.16 MILLION (HERE IN AFTER REFERRED TO AS THE'NET ISSUE TO THE PUBLIC'). THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE 29.84% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY
THE FACE VALUE PER EQUITY SHARE IS RS.10/- AND THE ISSUE PRICE IS 8.8 TIMES OF THE FACE VALUE.

The issue made through the 100% Book Building Process wherein not more than 50% of the Issue to the public 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, not less than 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue to the public 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 gross 27,609 applications for 48,814,880 equity shares resulting In 6.94 times subscription.
The Basis of Allotment for all the categories namely Employees, Retail Individual Investors, Non Institutional Investors and Qualified Institutional Buyers was approved by Bombay Stock Exchange Limited (Designated Stock Exchange) on December 11, 2006. The Board of Directors of the Company at its Meeting held at the Registered Office of the company at A-21, Green Park, Main Aurobindo Marg, New Delhi on December 12, 2008 allotted the Equity Shares to the successful applicants. Details of valid applications received are as under.

Public Issue

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 23 27792750 8.38
Non Institutional Investors 278 3289825 3.31
Employees 74 430975 1.10
Retail Individual Investors 26679 16887125 7.26

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

Bid Price
(As / Shares
No.of Equity
Shares
% to Total Bids Cumulative
Total-Bids
Cumulative
% to Total Bids
60.00 384625 0.76178 60490260 100.00000
51.00 4750 0.00941 50105625 99.23822
52.00 6625 0.01312 50100875 99.22881
53.00 42000 0.08319 50094250 99.21569
54.00 3750 0.00743 50052250 99.13251
55.00 7000 0.01386 50048500 99.12508
56.00 33108000 65.57306 50041500 99.11121
Cut -off 16933500 33.53816 16933500 33.53816
Total 50490250 100.00000

A. Allotment to Employees (After Technical Rejections)
All the bidders in the Employees category, who have bid' at cut-oft or at the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was subscribed 1.10 times. The total number of shares allotted in this category Is 3;90,000 Equity Shares.
All the applicants in this category have been given firm allotment on proportionate basis inverse to the over subscription ratio.

B. Allotment to Retail Investors (After Technical Rejections)
All the bidders in the Retail Investors, who have bid at cut-pff'or at, the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was over subscribed 7.26 times. The total number of shares allotted in this category is 23,26,829 Equity Shares. The category-wise detak of the Basis of allotment are as under

Category No.of
Applns.
% to
Total
Total No.
of Shares
applied
% to
Total
No. of
Shares
allotted
Ratio Total No.
of Shares
alloted
125 6520 24.44 815000 4.83 125 4:29 112250
250 4855 18.20 1213750 7.19 125 8:29 167375
375 1878 7.04 704250 4.17 125 12:29 97125
500 2896 10.85 1448000 8.57 125 27:49 199500
625 684 2.66 1 427500 2 .53 125 42:61 58875
750 854 3.20 I 640500 3.79 125 44:53 88625
875 3939 14.76 3446625 20.41 125 27:28 474750

From category 1000 to 1750 the retail investors have been given firm allotment on a proportionate basis Inverse to the over subscription ratio.

C. Allotment to Non Institutional Investors (After Technical Rejections)
All the bidders in the Non Institutional Category, who have bid at the Issue Price of Rs.56/- per Equity Share, have been considered while preparing the basis of allotment. The category was subscribed 3.31 times. The total number of shares allotted in this category Is 9,96,857 Equity Shares. All the applicants In this category have been given Firm Allotment on a proportionate basis Inverse to the oversubscription ratio.

D. Allotment to QIBs
The total number of Equity Shares allotted in this category are 3,322,857 Equity Shares (50% of total Equity Shares allotted). This category was oversubscribed by 8.36 times. All the applicants in this category have been given Firm Allotment on a proportionate basis. Out of 3322867 Equity Shares offered to QIBs as per the terms of the issue, 166143 Equity Shares (I.e 5% of 3322857 Equity Shares) has been allotted proportionately to mutual funds. Mutual funds applicants have also been considered eligible for proportionate allotment for the balance Equity shares in 018e category i.e 3156714 Equity shares.

Dates of despatch of Refund Orders, Credit to beneficiary Accounts, Refund Instructions and Listing details
Activity Date of Completion
Approval of Basis of Allotment b BSE December 11, 2006
Despatch of Allotment Advices, Refund Orders and ECS Intimation Note December 13, 2006
Refund Instructions to the Clearing System
In case of Refunds through ECS system)

December 13,2006
Listing Application to BSE A NSE December 13, 2006
Credit to beneficiary Accounts December 13, 2006

Refunds have been made through ECS, Direct credit, RTGS and NEFT, Into the Bank Accounts of the applicants, as registered with the depositories, for applicants residing at any of the 15 centres specified by SERI. For other applicants Refund Orders have been despatched to their address as registered with the depositories. In case the same is not received within ten days, applicants may contact at the address given below. ECS Intimation Note and Refund Orders have been over-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 beneficiary accounts.

The company Is taking steps to get the equity shares admitted for trading on 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 allotment made would be hosted on the website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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:

Bigshare Services Private Limited
E-2/3, Ansa Industrial Estate, Saki Vihar Road, Saki Naka,
Andheri (East), Mumbai - 400 072.
Tel: 9122 2847 0652/0653, Fax: 9122 2847 5207
Webelts: www.bigsharsonline.com, Email: Ipo@bigshare.com
Contact Person: Mr. N.V.K Mohan



Place : New Delhi
Date : December 12, 2006

For L T Overseas Limited
Sd/-
Vijay Kumar Arora
Chairman & 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 L T OVERSEAS LIMITED.

LT Overseas IPO Basis of Allotment FAQs

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

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

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