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Omaxe IPO Details

Issue Open Jul 17, 2007
Issue Close Jul 20, 2007
IPO Price ₹310
Face Value ₹10
IPO Size ₹551.69 Cr
Listing At BSE, NSE
IPO Lot Size 20

OMAXE LIMITED

(Incorporated on March 8, 1989 as Omaxe Builders Private Limited under the Companies Act, 1956. We changed our name to Omaxe Construction Private Limited, which was approved by the Registrar of Companies, National Capital Territory of Delhi and Haryana through their approval letter dated March 4,1997. We converted to a public company with the name of Omaxe Construction Limited by passing a special resolution in terms of section 31/21 read with section 44 of the Companies Act, 1956, which was approved by the Registrar of Companies, National Capital Territory of Delhi and Haryana through their approval letter dated August 10, 1999. We changed our name to Omaxe Limited with effect from June 6, 2006.) Registered Office: 7, Local Shopping Centre, Kalkaji, New Delhi 110 019, India.
Tel:+91 11 41893100 / 41896680-85 Fax: +91 41896653 / 41896655 / 41896799
Contact Person: Mr. Venkat Rao, Company Secretary
Email: ipo@omaxe.com. Website: www.omaxe.com

BASIS OF ALLOTMENT

PUBUC ISSUE OF UP T0 17,796,520 EQUITY SHARES OF Rs. 10 EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF RS. 310 PER EQUITY SHARE AGGREGATING RS, 5,51652 MILLION BY OMAXE LIMITED ('OMAXE', 'THE COMPANY' OR 'THE ISSUER'). ADDITIONALLY, THERE IS A GREEN SHOE OPTION OF UP T0 1,750,000 EQUITY SHARES TO BE OFFERRED FOR CASH AT A PRICE OF RS. 310 PER EQUITY SHARE, AGGREGATING RS. 54250 MILLION. THE ISSUE SHALL CONSTITUTE 11.20% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY, ASSUMING THE GREEN SHOE OPTION IS EXERCISED AND SHALL CONSTITUTE 10.30% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY, ASSUMING THE GREEN SHOE OPTION IS NOT EXERCISED. THE FRESH ISSUE AND THE GREEN SHOE OPTION ARE JOINTLY REFERRED TO AS THE 'ISSUE'. 296520 EQUITY SHARES OF RS. 310 EACH WILL BE RESERVED IN THE ISSUE FOR SUBSCRIPTION BY EMPLOYEES (AS DEFINED HEREIN) (THE 'EMPLOYEE RESERVATION PORTION'). THE ISSUE OTHER THAN THE EMPLOYEE RESERVATION PORTION SHALL BE CALLED THE 'NET ISSUE'.

THE FACE VALUE OF EQUITY SHARE IS RS. 10/- EACH. THE ISSUE PRICE OF RS 310/- EACH IS 31 TIMES OF THE FACE VALUE

Global Coordinators and  joint Book running Lead Managers are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited and UBS Securities India Private Limited, Book Running Lead Manager is JM Financial Consultants Private Limited, and Co-Book Running Lead Manager is ICICI Securities Primary Dealership Limited, the Equity Shares of the Company are proposed to be listed on The Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and trading is expected to start on or around August 10,2007. In terms of Rule 19(2)(b) of the SCRR, this being an Issue for less than 25% of the post-lssue capital, the Issue is being made through the 100% Book Building Process wherein at least 60% of the Net Issue shall be allocated on a proportionate basis to QIB Bidders, out of which 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above Issue price. If at least 60% of the Net Issue cannot be allocated to QIB Bidders, then the entire application money will be refunded forthwith. Further, not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Instltutional Bidders and not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, up to 296,520 Equity Shares shall be available for allocation on a proportionate basis to the Employees, 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 Net Issue shall aggregate to at least Rs. 100.00 crores. The Company has not, opted for grading of the Issue.
The issue received 4,58,544 applications for 1,21,18,96,980 Equity Shares resulting in 62. times subscription. The details of the applications received in the Issue from QIBs, Non Institutional Bidders, Retail Individual Bidders and Eligible Employees (Before technical rejections) are as under:

Category No. of applications No. of shares Subscription
(No. of times)
Retail Individual Bidders 456086 71586860 12.3960
Non Institutional Bidders 1642 138656620 72.0294
QIBs 287 1001317120 86.6941
Eligible Employees 529 336380 1.1344

Final Demand
A summary of the final demand at various price levels as per the electronic book is given below:

Bid Price No. of
Applications
No. of Shares % to Total Cumulative
no. of Shares
Cumulative % to
Total
265 1678 4965460 0.4043 1228143340 100.0000
266 25 1500 0.0001 1223177880 99.5957
267 7 680 0.0001 1223176380 99.5956
268 11 1360 0.0001 1223175700 99.5955
269 3 100 0.0000 1223174340 99.5954
270 242 1363980 0.1111 1223174240 99.5954
271 4 680 0.0001 1221810260 99.4843
272 3 260 0.0000 1221809580 99.4843
273 5 620 0.0001 1221809320 99.4843
275 391 80440 0.0065 1221808700 99.4842
276 7 1560 0.0001 1221728260 99.4777
277 110 38820 0.0032 1221726700 99.4775
278 3 480 0.0000 1221687880 99.4744
279 3 440 0.0000 1221687400 99.4743
2B0 310 54540 0.0044 1221686960 99.4743
281 3 460 0.0000 1221632420 99.4699
282 5 220 0.0000 1221631960 99.4698
283 1 60 0,0000 1221631740 99.4698
284 3 660 0.0001 1221631680 99.4698
285 269 46960 0.0038 1221631020 99.4697
286 3 540 0.0000 1221584060 99.4659
287 18 3400 0.0003 1221583520 99.4659
288 26 5900 0.0005 1221580120 99,4656
289 2 620 0.0001 1221574220 99.4651
290 1194 5867020 0.4777 1221573600 99.4651
291 58 18220 0.0015 1215706580 98,9874
292 6 1160 0.0001 1215688360 98.9859
293 27 8560 0.0007 1215687200 98.9858
294 98 34660 0.0028 1215678640 98.9851
295 148 16080 0.0013 1215643980 98.9823
296 4 380 0.0000 1215627900 98.9809
297 3 100 0.0000 1215627520 98.9809
298 6 340 0.0000 1215627420 98.9809
299 2 140 0.0000 1215627080 98.9809
300 745 355640 0.0290 1215626940 98.9809
301 8 5160 0.0004 1215271300 98.9519
302 4 420 0.0000 1215266140 98.9515
303 1 20 0.0000 1215265720 98.9515
304 1 100 0.0000 1215265700 98.9515
305 101 29180 0.0024 1215265600 98.9514
306 3 100 0.0000 1215236420 98.9491
307 4 200 0.0000 1215236320 98.9491
308 19 27460 0.0022 1215236120 98.9490
309 19 28820 0.0023 1215208660 96.9468
310 23863 1144944580 93.2256 1215179840 98.9445
9999 440560 70235260 5.7188 70235260 5.7188
TOTAL 1228143340

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange ('BSE') on August 1,2007. The IPO Committee of Directors of the Company at its meeting held on August 2, 2007 approved the Basis of Allocation of Equity Shares in the Issue and has allotted equity Shares to various successful applicants.

A) Allocation to Non Institutional Bidders:
This category (net of technical rejections) was over subscribed 71.6437 times. The total number of shares allotted in this category Is 1924992 Equity Shares. The category wise details of the Basis of Allocation in this category are as under (Sample):

Category No. of
Applications
% to total No. of Equity
Shares applied
% to total No. of
Equity Shares
allocated
Ratio Total No. of
Equity Shares
allocated
340 55 4.41 18700 0.01 20 13:55 260
440 2 0.16 880 0 20 1:2 20
600. 32 2.57 19200 0.01 20 13:32 260
740 2 0.16 1480 0 20 1:2 20
960 11 0.88 10560 0.01 20 7:11 140
1140 4 0.32 4560 0 20 3:4 60
1420 2 0.16 2840 0 20 FIRM 40
1660 1 0.08 1660 0 23 FIRM 23
2260 4 0.32 9040 0.01 32 FIRM 128
3420 1 0.08 3420 0 48 FIRM 48
4500 3 0.24 13500 0.01 63 FIRM 189
6000 5 0.4 30000 0.02 84 FIRM 420
6760 1 0.08 6760 0 94 FIRM 94
8700 1 0.08 8700 0.01 121 FIRM 121
12900 2 0.16 25800 0.02 180 FIRM 360
16360 1 0.08 16360 0.01 228 FIRM 228
19300 1 0.08 19300 0.01 269 FIRM 269
23000 1 0.08 23000 0.02 321 FIRM 321
31000 1 0.08 31000 0.02 433 FIRM 433
45000 3 0.24 135000 0.1 628 FIRM 1884
64600 2 0.16 129200 0.09 902 FIRM 1804
70000 1 0.08 70000 0.05 977 FIRM 977
88000 1 0.08 88000 0.06 1228 FIRM 1228
112900 1 0.08 112900 0.08 1576 FIRM 1576
161180 1 0.08 161180 0.12 2250 FIRM 2250
175800 1 0,08 175800 0.13 2454 FIRM 2454
300000 2 0.16 600000 0.44 4188 FIRM 8376
325000 1 0.08 325000 0.24 4536 FIRM 4536
400000 2 0.16 800000 0.58 5583 FIRM 11166
483860 1 0.08 483860 0.35 6754 FIRM 6754
600000 2 0.16 1200000 0.87 8375 FIRM 16750
770000 2 0.16 1540000 1.12 10748 FIRM 21496
834000 2 0.16 1668000 1.21 11641 FIRM 23282
1075200 1 0.08 1075200 0.78 15008 FIRM 15008
1300000 1 0.08 1300000 0.94 . 18145 FIRM 18145
1698000 2 0.16 3396000 2.46 23701 FIRM 47402
2350000 1 0.08 2350000 1.7 32801 FIRM 32801

B) Allocation to Retail Individual Bidders:

This category (net of technical rejections) was over subscribed 12.144457 times. The total number of shares allotted In this category Is 5775008 Equity Shares. The category wise details of the Basis of Allocation in this category are as under:

Category No. of
Applications
% to
total
No. of Equity
Shares applied
% to
total
No. of Equity
Shares
allocated
Ratio Total No. of
Equity Shares
allocated
20 56274 12.66 1125480 1.60 20 8:97 92820
40 46772 10.52 1870880 2.67 20 16:97 154300
60 34775 7.82 2086500 2.98 20 12:49 170640
80 19588 4.41 1567040 2.23 20 33:100 129280
100 54373 12.23 5437300 7.75 20 41:100 446280
120 10561 2.38 1267320 1.81 20 49:100 103840
140 10052 2.26 1407280 2.01 20 60:101 119420
160 58253 13.11 9320480 13.29 20 67:101 772860
180 4494 1.01 808920 1.15 20 4:5 71900
200 14884 3.35 2976800 4.24 20 9:10 267920
220 1976 0.44 434720 0.62 20 FIRM 39520
240 2629 0.59 630960 0.90 20 FIRM 52580
260 1784 0.40 463840 0.66 21 FIRM 37464
280 1212 0.27 339360 0.48 23 FIRM 27876
300 9636 2.17 2890800 4.12 25 FIRM 240900
320 117208 26.37 37506560 53.48 26 FIRM 3047408

C) Allocation to Eligible Employees

This category (net of technical rejections) was over subscribed 1.109133 times. The total number of shares . allotted in this category is 296520 Equity Shares. The category wise details of the Basis of Allocation in this category are as under (Sample):

Category No. of
Applications
% to total No. of Equity
Shares
applied
% to total

No. of
Equity Shares
allocated

 

Ratio Total No. of
Equity Shares
allocated
20 2 0.4 40 0.01 20 FIRM 40
100 30 6.04 3000 0.91 90 FIRM 2700
200 22 4.43 4400 1.34 180 FIRM 3960
320 18 3.62 5760 1.75 289 FIRM 5202
400 6 1.21 2400 0.73 361 FIRM 2166
520 2 0.4 1040 0.32 469 FIRM 938
620 1 0.2 620 0.19 559 FIRM 559
780 5 1.01 3900 1.19 703 FIRM 3515
920 2 0.4 1840 0.56 830 FIRM 1660
1060 2 0.4 2120 0.64 956 FIRM 1912
1260 2 0.4 2520 0.77 1136 FIRM 2272
1460 4 0.8 5840 1.78 1316 FIRM 5264
1680 1 0.2 1680 0.51 1515 FIRM 1515
2260 1 0.2 2260 0.69 2038 FIRM 2038
3220 1 0.2 3220 0.98 2903 FIRM 2903
4900 1 0.2 4900 1.49 4418 FIRM 4418
16120 1 0.2 16120 4.9 14540 FIRM 14540

D) Allocation to Qualified  Institutional Buyers

Category Financial Institutional/Banks Mutual Funds Foreign Institutional Investors Insurance Companies Vcs
No.of Equity.Shares 1087933 2335151 7389428 681587 55901

The Refund Orders due to applicants will be dispatched to the address of the investors as registered with the depositories on August 3,2007. 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 Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on August 3,20O7. The listing will be filed with the BSE and NSE on August 3,2007 and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within seven working days from the date of approval of the Basis of Allocation.

Investors Please Note:

The details of allocation made would be hosted on the website of the Registrar to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.com
Further correspondence in respect of allotment of Equity Shares pertaining to the Issue may be addressed to the Registrar to the Issue, Intime Spectrum Registry Limited, 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, Place where the bid was submitted and payment details at the address given below:

Intime Spectrum Registry Ltd.
C-13, Pannalal Silk Mils Compound,
L.B.S. Road, Bhandup West, Mumbai - 400 078,
Tel.: (022) 2596 0320 Fax: (022) 2596 0329,
E-mail: gbn-ipo@intimespectrum.com
Contact Person: Mr. Salim Shaikh

Place: New Delhi
Date: August 4,2007

For Omaxe Limited
On Behalf of the Board of Directors
Sd/-
Authorized Signatory

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 OMAXE LIMITED.

'This communication is intended for release solely in India and may not be released in the United States. This communication is not an offer of securities for sale in any jurisdiction, including the United States. The securities have not been and will not be registered under the U .S. Securities Act of 1933, as amended, and may not be offered or sold to the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended.'

Omaxe IPO Basis of Allotment FAQs

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

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

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