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MBL Infra IPO Details

Issue Open Nov 27, 2009
Issue Close Dec 1, 2009
IPO Price ₹180
Face Value ₹10
IPO Size ₹102.60 Cr
Listing At BSE, NSE
IPO Lot Size 35

MBL Infrastructures Limited

(Our Company was originally incorporated as Maheshwari Brothers Limited on August 25,1995 at Registrar of Companies, West Bengal, under the Companies Act 1956. The name of our Company was changed to MBL Infrastructures Limited with effect from July 05,2006. For details of incorporation and change of name please refer to the section titled 'History and Certain Corporate Matters' beginning on page 90 of the Prospectus.)

Registered Office and Corporate Office: 23A, Netaji Subhas Road, 3rd Floor, Suite 14, Kolkata 700 001.
Tel No: + 91 33 2230 1671/2353; Fax No:+91 33 2230 8807
Corporate Office: SU 2-3, Bhikaji Cama Bhawan, Bhikaji Cama Place, Ground Floor, New Delhi-110 066,
Tel
No: +91 11 2618 3937; Fax No: +91 11 2616 7547  Saket Estates, 2 Floor, Premises No. 2C, 2, Ho Chi Minh Sarani Kolkata 700 071, Tel No: + 91 33 2282-0404/05/08/07/08/09; Fax No: + 91 33 2282 0405
Website: www.mblinfra.com; E-mail: cs@mblinfra.com;
Contact Person: Mr, Nitin Bagaria, Company Secretary and Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 57, 00,000 EQUITY SHARES OF RS.10 EACH FOR CASH AT A PRICE OF RS. 180/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 170/- PER EQUITY SHARE) AGGREGATING TO RS. 10,260 LACS, (THE ISSUE'), BY MBL INFRASTRUCTURES LIMITED ('OUR COMPANY', OR THE ISSUER'): THE ISSUE INCLUDES NET ISSUE TO THE PUBLIC OF 56,00,000 EQUITY SHARES AND A RESERVATION OF UPTO 1,00,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE EMPLOYEE RESERVATION PORTION') AT THE ISSUE PRICE. THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE 'NET ISSUE'.THE ISSUE WILL CONSTITUTE 32.55% AND THE NET ISSUE WILL CONSTITUTE 31.97% OF THE FULLY DILUTED POST-ISSUE PAID-UP CAPITAL OF OUR COMPANY.

BID/ISSUE OPENED ON NOVEMBER 27,2009. CLOSED ON DECEMBER 01,2009.

The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading is expected to commence on or about January 14,2010.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS.180/- AND IT IS 18 TIMES THE FACE VALUE. THE ANCHOR INVESTOR ISSUE PRICE IS RS. 180/-PER EQUITY SHARE.

The Issue was made through the 100% Book Building Process wherein not more than 50% of the Net Issue was to be available for allocation 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 then 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less then 35% 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. Further upto 1,00,000 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 Company has allocated 8,40,000 Equity Shares of the QIB Portion to Anchor Investors on a discretionary basis at Rs. 180/- per equity share in accordance with the SEBI Regulation. The Issue received 3,688 applications for 96,01,060 equity shares resulting in 1.68 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under (Before technical rejections)

Category No. of Applications No. of Shares No. of times Subscription
Qualified Institutional Buyers 15 65,64,705 3.35
Non Institutional Investors 29 11,98,820 1.43
Retail Individual Investors 3,616 7,14,035 0.36
Employees 26 12,320 0.12
Anchor Investors 2 11,11,180 1.32

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

Bid Price No. of
Shares
% to
Total
Cumulative
Total
Cumulative %
to total
165 10,18,220 8.8640 1,14,87,175 100.0000
166 175 0.0015 1,04,68,955 91.1360
167 35 0.0003 1,04,68,780 91.1345
168 770 0.0067 1,04,68,745 91.1342
169 35 0.0003 1,04,67,975 91.1275
170 12,69,765 11.0538 1,04,67,940 91.1272
172 210 0.0018 91,98,175 80.0734
173 70 0.0006 91,97,965 80.0716
175 6,580 0.0573 91,97,895 80.0710
176 35 0.0003 91,91,315 80.0137
178 560 0.0049 91,91,280 80.0134
180 85,05,700 74.0452 91,90,720 80.0085
9999 6,85,020 5.9633 6,85,020 5.9633
TOTAL 1,147,175 100.0000

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ('BSE') on January 05,2010.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs.180/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.12 times. As per the Red Herring Prospectus, the spill over portion to the extent of 87,680 equity shares has been added to the QIB, Non Institutional Investors & Retail category. The total number of shares allotted in this category is 12,320 Equity Shares to 26 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under

Category No. of Applications % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
105 5 19.23 525 4.26 105 1:1 525
210 4 15.38 840 6.82 210 1:1 840
525 3 11.54 1,575 12.78 525 1:1 1,575
1,155 1 3.85 1,155 9.38 1,155 1:1 1,155
1,330 1 3.85 1,330 10.8 1,330 1:1 1,330

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investois, who have bid at cut-off or at the issue Price of Rs. 180/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.33 times. As per the Red Herring Prospectus, the spill over portion to the extent of 13,31,008 equity shares has been added to the QIB & Non Institutional Investors category, after adding the spill over portion from Employee Category to the extent of 30688 equity shares. The total number of shares allotted in this category is 6,59,680 Equity Shares to 3138 successful applicants. The category-wise details of the Basis of Allocation are as under

Category No. of Applications % to total Total Shares applied % to total No. of No. of Shares allocated Ratio Total No. of Shares allocated
35 1201 38.57 42,035 6.37 35.00 1:1 42,035
70 227 7.23 15,890 2.41 70.00 1:1 15,890
105 177 5.64 18,585 2.82 105.00 1:1 18,585
140 73 2.33 10,220 1.55 140.00 1:1 10,220
175 33 1.05 5,775 0.88 175.00 1:1 5,775
210 229 7.30 48,090 7.29 210.00 1:1 48,090
245 253 8.06 61,985 9.40 245.00 1:1 61,985
280 133 4.24 37,540 5.65 280.00 1:1 37,240
315 6 0.19 1,890 0.29 315.00 1:1 1,890
350 23 0.73 8,050 1.22 350.00 1:1 8,050
385 3 0.10 1,155 0.18 385.00 1:1 1,155
420 3 0.10 1,260 0.19 420.00 1:1 1,260
455 4 0.13 1,820 0.28 455.00 1:1 1,820
490 4 0.13 1,960 0.30 490.00 1:1 1,960
525 769 24.51 4,03,725 61.20 525.00 1:1 4,03,725

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non Institutional Investors, who have bid at cut-off or at the Issue Price of Rs. 180/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 0.67 times. As per the Red Herring Prospectus, the spill over portion to the extent of 4,08,534 equity shares has been added to the QIB category, after adding the spill over portion from Employee Category to the extent of 13,152 equity shares and from Retail Category to the extent of 3,99,302 equity shares. The total number of shares allotted in this category is 8,43,920 Equity Shares to 26 successful applicants. The category-wise details of the Basis of Allocation are (Sample) under:

Category No. of Applications % to total Total Shares applied % to total No. of No. of Shares allocated Ratio Total No. of Shares allocated
1,400 1 3.85 1,400 0.17 1,400 1:1 1,400
11,095 1 3.85 11,095 1.31 11,095 1:1 11,095
28,000 1 3.85 28,000 3.32 28,000 1:1 28,000
55,545 2 7.69 1,11,090 13.16 55,545 1:1 1,11,090
69,440 2 7.69 1,38,880 16.46 69,440 1:1 1,38,880
2,80,000 1 3.85 2,80,000 33.18 2,80,000 1:1 2,80,000

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, Mutual Funds were initially allotted 5% of the quantum of shares available (1,67,204), including Spill over from Employee Category to the extent of 2,192 Equity Shares, Retail Category to the extent of 46,585 Equity Shares and Non Institutional Investors to the extent of 20,427 Equity Shares, and other QIBs were allotted the remaining available shares (31,76,876) on proportionate basis, including Spill over from Employee Category to the extent of 41,648 Equity Shares, Retail Category to the extent of 8,85,121 Equity Shares and Non Institutional Investors to the extent of 3,88,107 Equity Shares, was allotted to other QIBs on proportionate basis

Flls Fls/Banks MFs VCs Total
52,623 - 32,91,457 - 33,44,080

E. Allocation to Anchor Investors
Allocation to Anchor Investors has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, 30% of QIB Reservation (28,00,000 Equity Shares) was allotted to Anchor Investors (8,40,000 Equity Shares).

Flls Fls/Banks MFs VCs Total
420,000 - 420,000 - 8,40,000

The Board of Directors of the company at its Meeting held at Kolkotta on January 05,2010 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and notices will be dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact 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 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 Bombay Stock Exchange Limited and the National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them to the prospectus dated December 23,2009 ('Prospectus').

INVESTORS PLEASE NOTE

These details of the allocation made would be hosted on the website of Registrars to the Issue, Link Intime India Private Limited at http://www.linkintime.co.in

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:

Link Intime India Private limited
C-13, Pannalal Silk Mills Compound,
L.B.S Marg, Bhandup (West), Mumbai-400078
Email: mbl.ipo@linkintime.co.in

Place : Mumbai
Date  : January 05,2010
For MBL Infrastructures Limited
sd/-
Nitin Bagaria

Company Secretary and Compliance Officer

MBL Infra IPO Basis of Allotment FAQs

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

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

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