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Maytas IPO Details

Issue Open Sep 27, 2007
Issue Close Oct 4, 2007
IPO Price ₹370
Face Value ₹10
IPO Size ₹327.45 Cr
Listing At BSE, NSE
IPO Lot Size 18

MAYTAS INFRA LIMITED

(The company was incorporated as Satyam Constructions Private Limited on May 6, 1988 under the Companies Act, 1956. It became a deemed public company with effect from July 1, 1993 and the word 'Private' was deleted from its name. The name of the company was changed to Maytas Infra Limited on May 6, 1998.)
Registered Office: 6-3-1186/5/A, IIIrd Floor, Amogh Plaza, Bagumpet, Hyderabad - 500 016.
Tel:+91-40- 2340 8100, 4040 9333 ; Fax:+91-40-2340 1107;
email: cs@maytasinfra.com; Website: www.maytasinfra.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 88,50,000 EQUITY SHARES OF RS. 10/- EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF RS. 370/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 360/- PER EQUITY SHARE) AGGREGATING TO RS 3,274.50 MILLION (REFERRED TO AS 'THE ISSUE'). THE ISSUE CONSTITUTES 15.04% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF MAYTAS INFRA LIMITED. ('COMPANY' OR 'ISSUER').
THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 370/- AND IT IS 37 TIMES THE FACE VALUE.

DSP Merrill Lynch Limited and JM Financial Consultants Private Limited are the Book Running Lead Managers and Kotak Mahindra Capital Company Limited are the Co-Book Ruining Lead Manager.
The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE') and trading is expected to commence on October 25, 2007.
In terms of Rule 19(2)(b) of the SCRR, this being an Issue for less than 25% of the post issue capital, the Issue is being 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 be specifically allotted to mutual funds), further, not less than 10% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the 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. In addition, in accordance with Rule 19(2)(b) of the SCRR, a minimum of two million securities are being offered to the public and the size of the Issue shall aggregate to at least Rs.1,000 million. The Company has not opted for the grading of the Issue.
The Issue received 2,25,248 applications for 59,59,10,364 equity shares resulting in 67.33 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual investor categories are as under: (Before technical rejections)

Category No. of Applications No. of Equity Shares Subscription
Qualified Institutional Buyers 256 51,31,55,484 96.63945
Non Institutional Investors 672 4,28,85,702 48.45842
Retail Individual Investors 2,24,320 3,98,69,178 15.01663

Final Demand
A summary of-the final demand at various price-levels as per the electronic book is as under

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
320 780354 0.13 600368562 100.00
321 252 0.00 599588208 99.87
322 36 0.00 599587956 99.87
323 18 0.00 599587920 99.87
324 18 0.00 599587902 99.87
325 1080 0.00 599587884 99.87
326 1116 0.00 599586804 99.87
327 144 0.00 599585688 99.87
328 36 0.00 599585544 99.87
329 0 0.00 599585508 99.87
330 1818 0.00 599585508 99.87
331 126 0.00 599583690 99.87
332 18 0.00 599583564 99.87
333 360 0.00 599583546 99.87
334 0 0.00 599583186 99.87
335 126 0.00 599583186 99.87
336 90 0.00 599583060 99.87
337 0 0.00 599582970 99.87
338 18 0.00 599582970 99.87
339 0 0.00 599582952 99.87
340 2430 0.00 599582952 99.87
341 36 0.00 599580522 99.87
342 36 0.00 599580486 99.87
343 36 0.00 599580450 99.87
344 0 0.00 599580414 99.87
345 191268 0.03 599580414 99.87
346 792 0.00 599389146 99.84
347 648 0.00 599388354 99.84
348 0 0.00 599387706 99.84
349 0 0.00 599387706 99.84
350 300690 0.05 599387706 99.84
351 72 0.00 599087016 99.79
352 180 0.00 599086944 99.79
353 72 0.00 599086764 99.79
354 0 0.00 599086692 99.79
355 432 0.00 599086692 99.79
356 108 0.00 599086260 99.79
357 0 0.00 599086152 99.79
358 0 0.00 599086152 99.79
359 0 0.00 599086152 9979
360 4644 0.00 599086152 99.79
361 0 0.00 599081508 99.79
362 0 0.00 599081508 99.79
363 0 0.00 599081508 99.79
364 0 0.00 599081508 99.79
365 1764 0.00 599081508 99.79
366 18 0.00 599079744 99.79
367 36 0.00 599079726 99.79
368 18 0.00 599079690 99.79
369 18 0.00 599079672 99.79
Rs. 370 Cut Off Price 599079654 99.79 599079654 99.79
600368562 100.00 0.00

The Basis of Allocation was finalized in consultation with.the BSE on 16th October, 2007.

A. 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 the Issue Price of Rs. 370/- par Equity Share, was finalized in consultation with BSE. The category was over subscribed 14.880788 times. The total number of Equity Shares allotted in this category is 26,55,000 Equity Shares to 1,47,500 successful applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to total Total No. of
Equity Shares
applied
% to total No. of Equity
Shares
allocated
Ratio Total No. of
Equity Shares
allocated
18 16681 7.53 300258 0.76 18 1:13 23094
36 13633 6.15 490788 1.24 18 1:7 35064
54 11057 4.99 597078 1.51 18 6:29 41184
72 7956 3.59 572832 1.45 18 3:11 39060
90 10243 4.62 921870 2.33 18 9.26 63828
108 7620 3.44 822960 2.08 18 7:17 56484
126 25694 11.59 3237444 8.19 18 8:17 217638
144 6256 2.82 900864 2.28 18 6:11 61416
162 2057 0.93 333234 0.84 18 5:8 23148
180 5753 2.60 1035540 2.62 18 11:16 71190
198 1916 0.86 379368 0.96 18 3:4 25866
216 7239 3.27 1563624 3.96 18 13:16 105876
234 2486 1.12 581724 1.47 18 7:8 39150
252 2427 1.10 611604 1.55 18 18:19 41382
270 100590 45.39 27159300 68.74 18 FIRM 1810620

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non institutional Investors, who have bid at the Issue Price of Rs. 370/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 48.386868 times. The total number of Equity Shares allotted in this category is 8,85,000 Equity Shares to 557 successful applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of Applns. % to total Total No. of
Equity Shares
applied
% to total No. of Equity
Shares allocated
Ratio Total No. of
Equity Shares
allocated
288 18 2.96 5184 0.01 18 1:3 108
450 2 0.33 900 0.00 18 1:2 18
1080 5 0.82 5400 0.01 22 FIRM 110
5076 1 0.16 5076 0.01 105 FIRM 105
10800 1 0.16 10800 0.03 223 FIRM 223
34200 1 0.16 34200 0.08 707 FIRM 707
45000 6 0.99 270000 0.63 930 FIRM 5580
100008 5 0.82 500040 1.17 2067 FIRM 10335
160200 1 0.16 160200 0.37 3311 FIRM 3311
360000 1 0.16 360000 0.84 7440 FIRM 7440
855000 1 0.16 855000 2.00 17670 FIRM 17670
1013490 1 0.16 1013490 2.37 20943 FIRM 20943
1216206 1 0.16 1216206 2.84 25132 FIRM 25132
2133702 1 0.16 2133702 4.98 44094 FIRM 44094
2162160 1 0.16 2162160 5.05 44682 FIRM 44682
2702700 1 0.16 2702700 6.31 55853 FIRM 55853

C. Allocation to OIBs
Allocation to OIBs 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 equity shares available (2,65,500) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available equity shares (50,44,500) on proportionate basis.

Category Financial Institutions/Banks Mutual Funds Foreign Institutianal Investors VCs Insurance Companies Total
No.of Equity Shares 8,00,563 8,37,154 33,85,254 18,608 2,68,421 53,10,000

The IPO Committee of the directors of the Company at its meeting held at Hyderabad on 17th October, 2007 has approved the Basis of Allocation of Equity Shares of the Issue and has allotted the Equity Shares to various successful applicants.
The CAN cum-Refund Orders, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or direct credit) and allotment advice and notices are being despatched to the address of the investors as registered with the depositories by October 19, 2007. In case the same is 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 Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by October 18, 2007. The listing applications will be filed with the BSE and the NSE on or before October 19,2007. and the Company is taking steps to get the equity shares admitted for trading on the NSE and BSE within seven working days from the date of approval of the Basis Of Allocation by the IPO Committee of Maytas Infra Limited.

INVESTORS PLEASE NOTE
No action has been taken to register or qualify the Equity Shares or otherwise permit a public offering of the Equity Shares in any jurisdiction other than India. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the 'Securities Act') or any state securities laws in the United States and may not be offered or sold within the Unitad States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares are being offered and sold only (1) in the United States to 'qualified institutional buyers' (as defined in Rule 144A under the Securities Act; such term does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the Red Herring prospectus and the prospectus as 'QIBs') in transactions exempt from the registration requirement of the Securities Act, and (2) outside the United States in compliance with Regulation S and the applicable laws of each jurisdiction where those offers and sales occur. The Issue will also be made in compliance with the applicable Securities and Exchange Board of India Guidelines.
The details of the allocation made would be hosted on the website of Registrar to the issue, Karvy Computershare Private Limited at http://kcpl.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Soto 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:

Karvy Computershare Private Limited
Unit: Maytas Infra
Plot No. 17 to 24, Vitharao Nagar,
Hitech City Road, Madhapur,
Hyderabad-500 081.
Fax: 040-23420814,
Email: einward.ris@Karvy.com

TOLL FREE- HELPLINE NUMBER: 1-800-3454001



Place: Hyderabad
Date : October 18, 2007

For Maytas Infra Ltd
Sd/-
B.Teja Raju
Vice 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 MAYTAS INFRA LIMITED.

Maytas IPO Basis of Allotment FAQs

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

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

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