Parsvnath
Developers Ltd
(Our Company was incorporated on July 24,1990 under the
CompaniesAct,1956. The registered office of our Company was changed from G-2, Arunachal
Building, 19, Barakhamba Road, New Delhi 110 001, India to the current registered office
from March 1,2004) Registered and Corporate Office: 6th floor, Arunachal
Building, 19, Barakhamba Road,
New Delhi 110001, India. Tel : + 91-11-23310198, Fax :
+91-11-23315400.
Contact Person: Mr. V. Mohan, Company Secretary and Compliance
Officer: Tel: +91-11-2335 0120.
Email : ipo@parsvnath.com WebSite
: www.parsvnath.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF UP TO 33,238,000 EQUITY SHARES OF Rs. 10/- EACH ('EQUITY
SHARES') FOR CASH AT A PREMIUM OF RS. 290/- PER EQUITY SHARE AND AT A PRICE OF RS.
300/- PER EQUITY SHARE AGGREGATING RS. 9971.4 MILLION (THE 'ISSUE'), BY
PARSVNATH DEVELOPERS LIMITED ('PDL', THE COMPANY' OR 'THE
ISSUER'). THERE WILL ALSO BE A GREEN SHOE OPTION OF UP TO 30,87,800 EQUITY SHARES TO
BE OFFERED BY PARASNATH AND ASSOCIATES PRIVATE LIMITED, ONE OF OUR PROMOTERS, FOR CASH ATA
PREMIUM OF RS. 290/- PER EQUITY SHARE AND AT A PRICE OF RS. 300/- PER EQUITY SHARE
AGGREGATING RS. 926.34 MILLION. THE ISSUE AND THE GREEN SHOE OPTION, IF EXERCISED IN FULL,
WILL AGGREGATE 36,325,800 EQUITY SHARES AMOUNTING TO RS. 10897.74 MILLION. THE ISSUE
COMPRISES A NET ISSUE TO THE PUBLIC OF UP TO 33,038,000 EQUITY SHARES (`THE NET
ISSUE') AND A RESERVATION OF UP TO 200,000 EQUITY SHARES FOR SUBSCRIPTION BY
EMPLOYEES (AS DEFINED HEREIN) (THE 'EMPLOYEE RESERVATION PORTION'), AT THE ISSUE
PRICE. THE ISSUE WILL CONSTITUTE 18.30% OF THE FULLY DILUTED POST-ISSUE EQUITY SHARE
CAPITAL OF OUR COMPANY ASSUMING THAT THE GREEN SHOE OPTION IS NOT EXERCISED AND 19.67%
ASSUMNG THAT THE GREEN SHOE OPTION IS EXERCISED IN FULL
THE FACE VALUE PER EQUITY SHARE IS RS. 10/- AND THE ISSUE PRICE IS THIRTY (30)
TIMES OF THE FACE VALUE
The Issue is made through a 100% Book Building Process, wherein not more than 60% of
the Net Issue to the Public was to be allotted on a discretionary basis to Qualified
Institutional Buyers ('QIBs'). Further, not less than 10% of the Net Issue to the Public
was available for allotment on a proportionate basis to Non-Institutional Bidders /
Investors and not less than 30% of the Net Issue to the Public was available for allotment
on a proportionate basis to the Retail Bidders / Investors, subject to valid bids were
received within the Price Band.
The Issue received 5,82,948 applications for 2,043,909,625
Equity Shares resulting in 56.2661 times subscription. The details of the
applications received in the Issue from Retail Bidders / Investors, NonInstitutional
Bidders / Investors, Employees and Qualified Institutional Buyers' categories (before
technical rejections) are as under:
Category |
No. of
Applications |
No. of Equity Shares
Applied For |
Subscription |
Retail Investors |
579,258 |
107,587,525 |
9.9271 |
Non-Institutional Investors |
2,853 |
322,545,080 |
89.2839 |
Qualified Institutional Buyers |
433 |
1,613,238,080 |
74.4269 |
Employee |
404 |
538,940 |
2.6947 |
Total |
5,82,948 |
2,04,39,09,625 |
56.2661 |
('): Note: Number of times of the respective category.
Final Demand
A sample of the final demand at different bid prices is as under.
Bid Price
Rs. / Share |
No. of
Equity Shares |
% to
Total Bids |
Cumulative
Total Bids |
Cumulative %
to Total Bids |
250 |
9912740 |
0.4505 |
2200174900 |
100.0000 |
251 |
880 |
0.0000 |
2190262160 |
99.5495 |
252 |
14420 |
0.0007 |
2190261280 |
99.5494 |
253 |
280 |
0.0000 |
2190246860 |
99.5488 |
254 |
60 |
0.0000 |
2190246580 |
99.5487 |
255 |
25860 |
0.0012 |
2190246520 |
99.5487 |
256 |
620 |
0.0000 |
2190220660 |
99.5476 |
257 |
1420 |
0.0001 |
2190220040 |
99.5475 |
258 |
20 |
0.0000 |
2190218620 |
99.5475 |
260 |
85220 |
0.0039 |
2190218600 |
99.5475 |
261 |
280 |
0.0000 |
2190133380 |
99.5436 |
262 |
1120 |
0.0001 |
2190133100 |
99.5436 |
263 |
9140 |
0.0004 |
2190131980 |
99.5435 |
264 |
20 |
0.0000 |
2190122840 |
99.5431 |
265 |
864080 |
0.0393 |
2190122820 |
99.5431 |
266 |
1625820 |
0.0739 |
2189258740 |
99.5039 |
267 |
280 |
0.0000 |
2187632920 |
99.4300 |
268 |
120 |
0.0000 |
2187632640 |
99.4299 |
269 |
360 |
0.0000 |
2187632520 |
99.4299 |
270 |
70800 |
0.0032 |
2187632160 |
99.4299 |
271 |
300 |
0.0000 |
2187561360 |
99.4267 |
272 |
8600 |
0.0004 |
2187561060 |
99.4267 |
273 |
360 |
0.0000 |
2187552460 |
99.4263 |
274 |
180 |
0.0000 |
2187552100 |
99.4263 |
275 |
63108640 |
2.8683 |
2187551920 |
99.4263 |
276 |
4900 |
0.0002 |
2124443280 |
96.5579 |
277 |
71140 |
0.0032 |
2124438380 |
96.5577 |
278 |
940 |
0.0000 |
2124367240 |
96.5545 |
279 |
980 |
0.0000 |
2124366300 |
96.5544 |
280 |
8533940 |
0.3879 |
2124365320 |
96.5544 |
281 |
2540 |
0.0001 |
2115831380 |
96.1665 |
282 |
48980 |
0.0022 |
2115828840 |
96.1664 |
283 |
1490600 |
0.0677 |
2115779860 |
96.1642 |
284 |
560 |
0.0000 |
2114289260 |
96.0964 |
285 |
655200 |
0.0298 |
2114288700 |
96.0964 |
286 |
1880 |
0.0001 |
2113633500 |
96.0666 |
287 |
320 |
0.0000 |
2113631620 |
96.0665 |
288 |
840 |
0.0000 |
2113631300 |
96.0665 |
290 |
63890520 |
2.9039 |
2113630460 |
96.0665 |
291 |
7520 |
0.0003 |
2049739940 |
93.1626 |
292 |
4380 |
0.0002 |
049732420 |
93.1622 |
293 |
3360 |
0.0002 |
2049728040 |
93.1620 |
294 |
55860 |
0.0025 |
2049724680 |
93.1619 |
295 |
2401920 |
0.1092 |
2049668820 |
93.1594 |
297 |
100 |
0.0000 |
2047266900 |
93.0502 |
298 |
7460 |
0.0003 |
2047266800 |
93.0502 |
299 |
9160 |
0.0004 |
2047259340 |
93.0498 |
300 |
1944686920 |
88.3878 |
2047250180 |
93.0494 |
CUT-OFF |
102563260 |
4.6616 |
102563260 |
4.6616 |
TOTAL |
2200174900 |
100.0000 |
|
|
The Basis of Allotment was finalized in consultation with National Stock Exchange
of India Limited ('NSE') on Thursday, November 23, 2006.
A. Allotment to Employees
The Basis of Allotment to the Employees, who have bid at cut-off or at the Issue Price of
Rs. 300/-per Equity Share, was finalized in consultation with NSE. The category was over
subscribed 2.69470 times. The total number of Equity Shares allotted in
this category is 200,000. The category-wise details of the Basis of Allotment are as under
(SAMPLE):
Category |
No. of
Appins. |
% to
Total |
Total No.
of Equity
Shares
Applied |
% to
Total |
No. of
Equity
Shares
Allotted |
Ratio |
Total No.
of Equity
Shares
Allotted |
20 |
8 |
1.98 |
160 |
0.03 |
20 |
3: 8 |
60 |
40 |
8 |
1.98 |
320 |
0.06 |
20 |
3: 4 |
120 |
60 |
9 |
2.23 |
540 |
0.1 |
22 |
FIRM |
198 |
80 |
3 |
0.74 |
240 |
0.04 |
30 |
FIRM |
90 |
100 |
26 |
6.44 |
2600 |
0.48 |
37 |
FIRM |
962 |
15000 |
1 |
0.25 |
15000 |
2.78 |
5566 |
FIRM |
5566 |
23500 |
1 |
0.25 |
23500 |
4.36 |
8721 |
FIRM |
8721 |
25000 |
1 |
0.25 |
25000 |
4.64 |
9277 |
FIRM |
9277 |
30000 |
2 |
0.5 |
60000 |
11.13 |
11133 |
FIRM |
22266 |
136000 |
1 |
0.25 |
136000 |
25.23 |
50461 |
FIRM |
50461 |
B. Allotment to Retail Investors
The Basis of Allotment to the Retail Investors, who have bid at cut-off or at the Issue
Price of Rs. 300/ per Equity Share, was finalized in consultation with NSE. The category
was over subscribed 9.83159 times. The total number of Equity Shares
allotted in this category is 10,837,746. The category-wise details of the
Basis of Allotment are as under
Category |
No. of
Applns. |
% to
Total |
Total No.
of Equity
Shares
Applied |
% to Total |
No. of
Equity
Shares
Allotted |
Ratio |
Total No.
of Equity
Shares
Allotted |
20 |
39793 |
6.94 |
795860 |
0.75 |
20 |
7:50 |
111280 |
40 |
40058 |
6.99 |
1602320 |
1.5 |
20 |
5:20 |
200200 |
60 |
30063 |
5.24 |
1803780 |
1.69 |
20 |
2: 5 |
240460 |
80 |
18462 |
3.22 |
1476960 |
1.39 |
20 |
41:100 |
151380 |
100 |
53511 |
9.33 |
5351100 |
5.02 |
20 |
51:100 |
545820 |
120 |
13384 |
2.33 |
1606080 |
1.51 |
20 |
61:100 |
163280 |
140 |
11914 |
2.08 |
1667960 |
1.57 |
20 |
71:100 |
169180 |
160 |
137999 |
24.07 |
22079840 |
20.72 |
20 |
81:100 |
2235580 |
180 |
3738 |
0.65 |
672840 |
0.63 |
20 |
95:100 |
71020 |
200 |
12911 |
2.25 |
258220 |
2.42 |
20 |
FIRM |
258220 |
220 |
1996 |
0.35 |
439120 |
0.41 |
22 |
FIRM |
43912 |
240 |
2845 |
0.5 |
682800 |
0.64 |
24 |
FIRM |
68280 |
260 |
1831 |
0.32 |
476060 |
0.45 |
26 |
FIRM |
47606 |
280 |
1219 |
0.21 |
341320 |
0.32 |
28 |
FIRM |
34132 |
300 |
9222 |
1.61 |
2786600 |
2.6 |
30 |
FIRM |
276660 |
320 |
194398 |
33.91 . |
62207360 |
58.38 |
32 |
FIRM |
6220736 |
C. Allotment to Non-institutional Investors
The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price
of Rs. 300/- per Equity Share, was finalized in consultation with BSE. The category was
subscribed 89.13101 times. The total number of Equity Shares allotted in
this category is 3,612,574. The category-wise details of the Basis of
Allotment are as under (SAMPLE):
Category |
No. of
Applns. |
% to
Total |
Total No.
of Equity
Shares
Applied |
% to
Total |
No. of
Equity
Shares
Allotted |
Ratio |
Total No.
of Equity
Shares
Allotted |
340 |
142 |
6.2 |
48280 |
0.01 |
20 |
1: 5 |
560 |
360 |
28 |
1.22 |
10080 |
0 |
20 |
3:14 |
120 |
380 |
2 |
0.09 |
760 |
0 |
20 |
1: 2 |
20 |
400 |
99 |
4.32 |
39600 |
0.01 |
20 |
2: 9 |
440 |
420 |
2 |
0.09 |
840 |
0 |
20 |
1: 2 |
20 |
440 |
6 |
0.26 |
2640 |
0 |
20 |
1: 3 |
40 |
460 |
2 |
0.09 |
920 |
0 |
20 |
1: 2 |
20 |
480 |
10 |
0.44 |
4800 |
0 |
20 |
3:10 |
60 |
500 |
149 |
6.5 |
74500 |
0.02 |
20 |
7:25 |
840 |
520 |
5 |
0.22 |
2600 |
0 |
20 |
1: 5 |
20 |
540 |
4 |
0.17 |
2160 |
0 |
20 |
1: 4 |
20 |
560 |
5 |
0.22 |
2800 |
0 |
20 |
2: 5 |
40 |
580 |
1 |
0.04 |
580 |
0 |
20 |
FIRM |
20 |
600 |
38 |
1.66 |
22800 |
0.01 |
20 |
6:19 |
240 |
620 |
4 |
0.17 |
2480 |
0 |
20 |
1: 4 |
20 |
640 |
17 |
0.74 |
10880 |
0 |
20 |
6:17 |
120 |
660 |
24 |
1.05 |
15840 |
0 |
20 |
3: 8 |
180 |
680 |
4 |
0.17 |
2720 |
0 |
20 |
1 : 2 |
40, |
700 |
26 |
1.13 |
18200 |
0.01 |
20 |
5:13 |
200 |
720 |
2 |
0.09 |
1440 |
0 |
20 |
1: 2 |
20 |
740 |
1 |
0.04 |
740 |
0 |
20 |
FIRM |
20 |
760 |
2 |
0.09 |
1520 |
0 |
20 |
1:: 2 |
20 |
780 |
2 |
0.09 |
1560 |
0 |
20 |
1: 2 |
20 |
800 |
21 |
0.92 |
16800 |
0.01 |
20 |
3: 7 |
180 |
820 |
7 |
0.31 |
5740 |
0 |
20 |
3: 7 |
60 |
840 |
3 |
0.13 |
2520 |
0 |
20 |
1 : 3 |
. 20 |
860 |
1 |
0.04 |
860 |
0 |
20 |
FIRM |
20 |
900 |
10 |
0.44 |
9000 |
0 |
20 |
1: 2 |
100 |
920 |
1 |
0.04 |
920 |
0 |
20 |
FIRM |
20 |
960 |
1 |
0.04 |
960 |
0 |
20 |
FIRM |
20 |
980 |
4 |
0.17 |
3920 |
0 |
20 |
1: 2 |
40 |
1000 |
162 |
7.07 |
162000 |
0.05 |
20 |
14:25 |
1820 |
2000 |
45 |
1.96 |
90000 |
0.03 |
22 |
FIRM |
990 |
2060 |
1 |
0.04 |
2060 |
0 |
23 |
FIRM |
23 |
2100 |
3 |
0.13 |
6300 |
0 |
24 |
FIRM |
72 |
2200 |
3 |
0.13 |
6600 |
0 |
25 |
FIRM |
75 |
2300 |
1 |
0.04 |
2300 |
0 |
26 |
FIRM |
26 |
2440 |
1 |
0.04 |
2440 |
0 |
27 |
FIRM |
27 |
2500 |
12 |
0.52 |
30000 |
0.01 |
28 |
FIRM |
336 |
5600000 |
1 |
0.04 |
5600000 |
1.74 |
62829 |
FIRM |
62829 |
6680000 |
1 |
0.04 |
6680000 |
2.07 |
74946 |
FIRM |
74946 |
24200000 |
1 |
0.04 |
24200000 |
7.52 |
271465 |
FIRM |
271465 |
26700000 |
1 |
0.04 |
26700000 |
8.29 |
299511 |
FIRM |
299511 |
31320000 |
1 |
0.04 |
31320000 |
9.73 |
351317 |
FIRM |
351317 |
The total number of Equity Shares allotted to QIBs is 49,38,271 Equity Shares as
follows:
Category |
Fls/Banks |
MFs |
File |
Insurance
Companies |
Foreign
Bank |
Venture
Capitals |
Total |
No. of Shares |
115,290,560 |
151,987,520 |
1,225,635,020 |
116,,691,660 |
333320 |
3,300,000 |
1,613,238,080 |
Pursuant to Clause 6.8.3.2 (g) of the SEBI (Disclosure and Investor Protection)
Guidelines, 2000 and under chapter Issue Procedure (Section Method of Proportionate Basis
of allocation in the Issue Page No.326) of the Prospectus dated November 15, 2006, the
Company has rounded-off fractional Equity Shares to the nearest one (1) Equity Share.
The Committee of Directors for Initial Public Offering ('IPO') of the Company at its
Meeting held at Gurgaon on November 23, 2006 has approved the basis of allocation of
shares and allotted the shares to various successful applicants.
The Refund Orders are being dispatched to the address of the investors as registered
with the depositories. In case the same is not received within ten (10) 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 respective 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 National Stock Exchange of India Limited within seven (7) working
days from the date of approval of the Basis of Allotment.
INVESTORS MAY PLEASE NOTE
On November 16, 2006 Mr.Madhur Narain resigned from the post of CFO of the Company on
account of personal reasons.
The company has accepted his resignation and appointed Mr.Ravi S Pan! as CFO of the
Company on November 20, 2006.
These details of allotment made, has been hosted on the website of the Registrar to the
Issue, Intime Spectrum Registry Limited at www.intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrar to
the Issue, Intime Spectrum Registry Limited, quoting full name of the First / Sole
Applicant, Serial Number of the Bidcum-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 Limited
Unit : PARSVNATH DEVELOPERS LIMITED
C-13, Pannalal Silk Mills Compound,
LBS Marg, Bhandup (West), Mumbai - 400 078 ,
Telephone No.: +91 - 22 - 2596 0320 - 28;
Fax No.: +91 - 22 - 2596 0329; Email: pdl-ipo@intimespectrum.com
Place : New Delhi
Date : November 25, 2006 |
For PARSVNATH DEVELOPERS LIMITED
Sd/-
COMPANY SECRETARY |
|