Oil india IPO Details

Issue Open Sep 7, 2009
Issue Close Sep 10, 2009
IPO Price ₹1050
Face Value ₹10
IPO Size ₹2,777.25 Cr
Listing At BSE, NSE
IPO Lot Size 6

OIL INDIA LIMITED

(Our Company was incorporated on February 18,1959 under the Companies Act, 1956 ('Companies Art') as a private limited company.The Name of our Company was changed from Oil india Private Limited to Oil india Limited with effect From May 4,1661).
Registered Office: P.O. Duliajan, District Dibrugarh, Assam 786 602, India.
Corporate Office: OIL House, Plot Number 19, Sector 16A, Noida, District Gautam Budh Nagar, Uttar Pradesh 201301, India, www.oil-india.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 26,449,982 EQUITY SHARES OF RS.10 EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF RS.1,050 PER EQUITY SHARE OF OIL INDIA LIMITED ('THE COMPANY') AGGREGATING RS. 27,772.48 MILLION ('ISSUE'). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 24,045,438 EQUITY SHARES ('NET ISSUE') AND A RESERVATION OF 2,404,544 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES ('EMPLOYEE RESERVATION PORTION'), AT THE ISSUE PRICE. THE ISSUE SHALL CONSTITUTE 11% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY.

Capitalized terms used but not defined herein shall have the meaning assigned to them in the Company's Prospectus dated September 15,2009 (the 'Prospectus')

THE FACE VALUE PER EQUITY SHARE IS RS.10 THE ISSUE PRICE PER EQUITY SHARE IS RS.1,050/- AND IT IS 105 TIMES THE FACE VALUE.

In terms of Rule 19 (2) (b) of the SCRR, this being an Issue for less than 25% of the post Issue capital of the Company, the Issue is 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, up to 10% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 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.

The Issue received 238,901 applications for 817,438,404 Equity Shares resulting in 30.90 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional and Retail Individual Investors categories and Employees are as under: (Before technical rejections)

Category No. of
Applications
No. of Equity
Shares
No. of times
subscription
A Retail Individual Bidders 232,983 12,344,201 1.71
B Non Institutional Bidders 1,560 24,020,781 9.99
C Qualified Institutional Bidders 472 780,394,824 54.09
D Employees 3,886 678,598 0.28
Total 238,901 817,438,404 30.90

Final Demand
Asummary of the final demand at different bid prices is as under:

Bid Price No. of
Equity Shares
% to total Cumulative
Total
Cumulative%
of Total
950 1,655,178 0.20 815,054,316 100.00
951 750 0.00 813,399,138 99.80
952 204 0.00 813,398,388 99.80
953 6 0.00 813,398,184 99.80
954 126 0.00 813,398,178 99.80
955 396 0.00 813,398,052 99.80
956 6 0.00 813,397,656 99.80
959 144 0.00 813,397,650 99.80
960 2,322 0.00 813,397,506 99.80
961 114 0.00 813,395,184 99.80
962 204 0.00 813,395,070 99.80
963 114 0.00 813,394,866 99.80
965 498 0.00 813,394,752 99.80
966 6 0.00 813,394,254 99.80
968 24 0.00 813,394,248 99.80
969 12 0.00 813,394,224 99.80
970 1,008 0.00 813,394,212 99.80
972 6 0.00 813,393,204 99.80
975 5,370 0.00 813,393,198 99.80
978 66 0.00 813,387,828 99.80
980 4,950 0.00 813,387,762 99.80
984 378 0.00 813,382,812 99.79
985 90 0.00 813,382,434 99.79
987 6 0.00 813,382,344 99.79
990 474 0.00 813,382,338 99.79
991 42 0.00 813,381,864 99.79
995 96 0.00 813,381,822 99.79
997 96 0.00 813,381,726 99.79
999 510 0.00 813,381,630 99.79
1,000 1,665,096 0.20 813,381,120 99.79
1,001 246 0.00 811,716,024 99.59
1,002 192 0.00 811,715,778 99.59
1,004 96 0.00 811,715,586 99.59
1,005 66 0.00 811,715,490 99.59
1,006 30 0.00 811,715,424 99.59
1,009 72 0.00 811,715,394 99.59
1,010 444 0.00 811,715,322 99.59
1,011 504 0.00 811,714,878 99.59
1,012 12 0.00 811,714,374 99.59
1,014 54 0.00 811,714,362 99.59
1,015 54 0.00 811,714,308 99.59
1,016 12 0.00 811,714,254 99.59
1,020 882 0.00 811,714,242 99.59
1,022 126 0.00 811,713,360 99.59
1,025 7,254 0.00 811,713,234 99.59
1,026 312 0.00 811,705,980 99.59
1,027 30 0.00 811,705,668 99.59
1,029 6 0.00 811,705,638 99.59
1,030 306 0.00 811,705,632 99.59
1,031 6 0.00 811,705,326 99.59
1,033 6 0.00 811,705,320 99.59
1,035 30 0.00 811,705,314 99.59
1,038 12 0.00 811,705,284 99.59
1,039 24 0.00 811,705,272 99.59
1,040 2,940 0.00 811,705,248 99.59
1,041 1,740 0.00 811,702,308 99.59
1,043 12 0.00 811,700,568 99.59
1,045 234 0.00 811,700,556 99.59
1,049 54 0.00 811,700,322 99.59
1,050 811,700,268 99.59 811,700,268 99.59

The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited ('NSE') on September22,2009.

A. Eligible Employees (After Technical Rejections)
The Basis of Allocation to the Eligible Employees of the Company, who have bid at cut-off where applicable or at the Issue Price of Rs. 1,050/- per Equity Share, was finalized in consultation with NSE. The total number of Equity Shares Allotted in this category is 637,872. The undersubscribed portion of 1,766,672 Equity Shares has been spilled over to QIB, Non-Institutional and Retail Individual lnvestorCategories in the ratio of 60:10:30.

B. Allocation to Retail Individual Investors (After Technical Rejections) (Including ASBA Applications)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.1,050 per Equity Share, was finalized in consultation with NSE. This category has been over-subscribed to the extent of 1.57 times. Overall 2,27,681 applications for 12,147,522 Equity Shares were found valid and they were considered for Allotment. The above includes 41,442 valid applications for 1,911,120 equity shares made under the ASBA process. The total number of shares allotted in Retail Individual Investor category is 7,743,633 Equity Shares (including spill over of 530,002 equity shares being 30% of the unsubscribed portion of the employee reservation) to 22,5133 applicants. The category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
6 23,777 10.44 142,662 1.17 6 25:28 127,374
12 24,052 10.56 288,624 2.38 8 FIRM 192,416
18 16,170 7.10 291,060 2.40 11 FIRM 177,870
24 14,205 6.24 340,920 2.81 15 FIRM 213,075
30 12,735 5.59 382,050 3.15 19 FIRM 241,965
36 5,634 2.47 202,824 1.67 23 FIRM 129,582
42 9,469 4.16 397,698 3.27 27 FIRM 255,663
48 9,960 4.37 478,080 3.94 31 FIRM 308,760
54 2,838 1.25 153,252 1.26 34 FIRM 96,492
Additional 1 4:73 156
60 7,522 3.30 451,320 3.72 38 FIRM 285,836
66 2,038 0.90 134,508 1.11 42 FIRM 85,596
72 1,990 0.87 143,280 1.18 46 FIRM 91,540
78 806 0.35 62,868 0.52 50 FIRM 40,300
84 879 0.39 73,836 0.61 54 FIRM 47,466
90 95,606 41.99 8,604,540 70.83 57 FIRM 5,449,542

C. Allocation to QIBs (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. 1,050/- per Equity Share, was finalized in consultation with NSE. This category has been over-subscribed to the extent of 9.07 times. Overall 1,008 applications for 23,419,428 equity shares were found valid and they were considered for allotment. The total number of equity shares allotted in this category is 2,581,211 (including spill over of 176,667 equity shares being 10% of the unsubscribed portion of the employee reservation) to 1,008 applicants. The category-wise details of the Basis of Allocation (sample) are as under:

Category No. of
Applications
% to
total
Total No.
of Equity
Shares applied
% to
total
No. of
Equity
Shares allocated
Ratio Total No.
of Equity
Shares allocated
96 83 8.23 7,968 0.03 11 FIRM 913
246 1 0.10 246 0.00 27 FIRM 27
570 2 0.20 1,140 0.00 63 FIRM 126
2004 4 040 8,016 0.03 221 FIRM 884
5040 3 0.30 15,120 0.06 555 FIRM 1,665
10020 2 0.20 20,040 0.09 1,105 FIRM 2,210
19998 2 0.20 39,996 0.17 2,204 FIRM 4,408
60000 1 0.10 60,000 0.26 6,613 FIRM 6,613
100002 1 0.10 100,002 0.43 11,022 FIRM 11,022
1047618 1 0.10 1,047,618 4.47 115,451 FIRM 115,451
1178148 1 0.10 1,178,148 5.03 129,838 FIRM 129,838
1904760 1 0.10 1,904,760 8.13 209,912 FIRM 209,912
2142858 1 0.10 2,142,858 9.15 236,151 FIRM 236,151

D. Allocation to QIBs (After Technical Rejections)
The Basis of Allocation to the Qualified Institutional Investors, who have bid at the Issue Price of Rs. 1,050/- per Equity Share, was finalized in consultation with NSE. Overall 469 applications for 877,663,389 equity shares were found valid and they were considered for allotment. 1,060,003 Equity Shares being 60% of the unsubscribed portion of the employee reservation were added to the QIB category. Allocation to QIBs has been done on a proportionate basis in consultation with NSE. Mutual Funds were initially Allotted 5% of the quantum of shares available i.e. 774,363 and other QIBs and balance demand of Mutual Funds were Allotted the remaining available shares i.e. 14,712,903.

Category Fls/Banks Flls MFs ICs VCs Others Total
No. of Equity Shares 1,468,687 9,085,517 2,741,646 2,187,578 2,751 10,963,803 26,449,982

The Board of Directors of the Company at it's meeting held at Hyderabad on September 23,2009 has approved the basis of allocation of Equity Shares of the Issue and has Allotted the Shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/ or notices have been 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 overprinted with the BankAccount 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. The Company is taking steps to get the Equity Shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of Allocation i.e., on or before October 3,2009. ISIN Number is INE274J01014.

INVESTORS PLEASE NOTE

These details of the Allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://karisma.karvy.com

All future correspondences 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:

Karvy Computershare Private Limited
Unit: OIL INDIA LIMITED
Plot No. 17 to 24, Vithlarao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814 Email: einward.ris@karvy.com

TOLL FREE - HELPLINE NUMBER 1-800-3454001

Place: Assam
Date : 28.09.2009
For Oil India Limited
Sd/-
S.R.Krishnan
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUTY SHARES ON LISTING  OR THE BUSINESS PROSPECTS OF OIL INDIA LIMITED

Oil india IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Oil india IPO?

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

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

    Visit the Oil india IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Oil india IPO allotment process?

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








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