Ramky Infra IPO Details

Issue Open Sep 21, 2010
Issue Close Sep 23, 2010
IPO Price ₹450
Face Value ₹10
IPO Size ₹530.00 Cr
Listing At BSE, NSE
IPO Lot Size 14

Ramky Infrastructure Limited

(Our Company was incorporated on April 13, 1994 under the provisions of the Companies Act, 1956.
Registered and Corporate Office: 6-3-1089/G/10 & 11,1st Floor, Gulmohar Avenue, Raj Bhavan Road, Somajiguda, Hyderabad-500 082.Tel: +91-40-2331 0091, Fax: +91-40-23302353 Email:investors@ramky.com Website:www.ramkyinfrastructure.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 11,777,777 EQUITY SHARES OF FACE VALUE OF RS. 10 ("EQUITY SHARES") EACH OF RAMKY INFRASTRUCTURE LIMITED ("RAMKY", OR THE "COMPANY", OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 450 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 440 PER EQUITY SHARE, AGGREGATING UP TO RS. 5,300 MILLION ("THE ISSUE"), CONSISTING OF A FRESH ISSUE OF UP TO 7,777,777 EQUITY SHARES AGGREGATING UP TO RS. 3,500 MILLION BY THE COMPANY ("FRESH ISSUE") CONSTITUTING A DILUTION OF 13.60% OF THE POST ISSUE PAID UP CAPITAL AND AN OFFER FOR SALE OF 4,000,000 EQUITY SHARES AGGREGATING UP TO RS. 1,800 MILLION ("OFFER FOR SALE") BY MR. ALLAAYODHYA RAMI REDDY, TARA INDIA FUND III TRUST, AND TARA INDIA HOLDINGS A LIMITED (THE "SELLING SHAREHOLDERS") CONSTITUTING A DILUTION OF 6.99 % OF THE POST ISSUE PAID UP CAPITAL. THE ISSUE WILL CONSTITUTE 20.59% OF THE FULLY DILUTED POST-ISSUE PAID-UP SHARE CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 450 PER EQUITY SHARE

THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 AND

THE ISSUE PRICE IS 45 TIMES THE FACE VALUE

Pursuant to first proviso to Rule 19(2)(b) (read with erstwhile Rule 19(2)(b)) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 41 (1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations"), this being an Issue for less than 25% of the post-Issue share capital, is being made through the Book Building Process wherein at least 60% of the Issue shall be Allotted to Qualified Institutional Buyers ("QIBs"). If at least 60% of the Issue cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. In addition, in accordance with first proviso to Rule 19(2)(b) (read with erstwhile Rule 19(2)(b)) of the SCRR, a minimum of two million Equity Shares shall be offered to the public through this Issue and the size of this Issue shall aggregate to at least Rs. 1,000 million. Our Company and the Selling Shareholders may, in consultation with the Book Running Lead Managers, allocate up to 30% of the QIB Portion on a discretionary basis to Anchor Investors at the Anchor Investor Price, out of which at least one-third will be available for allocation to domestic Mutual Funds only. In the event of under-subscription or non-Allotment in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. For further details, see "Issue Procedure" on page 249.5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs, subject to valid Bids being received from them at or above the Issue Price. In the event of under-subscription in the Mutual Fund Portion, the balance Equity Shares in the Mutual Fund Portion will be added to the Net QIB Portion and will be allocated QIBs (including Mutual Funds) on a proportionate basis, subject to valid Bids being received from them at or above the Issue Price. 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 Individual Bidders, subject to valid Bids being received from them at or above the Issue Price. Any Bidder (other than Anchor Investor), may participate in this Issue though the ASBA process by providing the details of the bank accounts in which the corresponding Bid amounts will be blocked by the SCSBs.

The Issue received 31737 applications for 32184236 equity shares resulting in 2.73 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Anchor Investor categories are as under: (Before technical rejections)

Sr.# Category No. of Applications Received No. of Equity Shares No. of times subscribed
A Retail Individual Bidders 31556 3530338 1.00
B Non Institutional Bidders 122 1941744 1.65
C Qualified Institutional Bidders 45 24596866 4.89
D Anchor Investors 14 2115288 1.04
Total 31737 32184236 2.73

Final Demand

A summary of the final demand as per the BSE and the NSE as on the Bid/ Issue Closing Date at different bids is as detailed hereunder

Bid Price No. Of shares % to Toal Cumulative Total Cumulative % of Total
405 1578234 4.28 1578234 4.275
406 476 0.00 1578710 4.276
407 2254 0.01 1580964 4.282
408 70 0.00 1581034 4.283
409 546 0.00 1581580 4.284
410 16366 0.04 1597946 4.328
411 168 0.00 1598114 4.329
412 7028 0.02 1605142 4.348
414 42 0.00 1605184 4.348
415 5866 0.02 1611050 4.364
416 140 0.00 1611190 4.364
418 14 0.00 1611204 4.364
420 12992 0.04 1624196 4.400
421 196 0.00 1624392 4.400
423 28 0.00 1624420 4.406
424 14 0.00 1624434 4.400
425 2128504 5.77 3752938 10.166
426 70 0.00 3753008 10.166
428 56 0.00 3753064 10.166
429 532 0.00 3753596 10.168
430 3668 0.01 3757264 10.178
432 434 0.00 3757698 10.179
434 126 0.00 3757824 10.179
435 634144 1.72 4391968 11.897
436 31038 0.08 4423006 11.981
437 1288 0.00 4424294 11.984
438 7630 0.02 4431924 12.005
440 5796 0.02 4437720 12.021
441 70 0.00 4437790 12.021
444 42 0.00 4437832 12.021
445 4452 0.01 4442284 12.033
446 10304 0.03 4452588 12.061
447 14 0.00 4452602 12.061
449 14 0.00 4452616 12.061
450 3247384 8.80 7700000 20.858
451 252 0.00 7700252 20.858
452 98 0.00 7700350 20.858
455 1204 0.00 7701554 20.862
456 154 0.00 7701708 20.862
457 14 0.00 7701722 20.862
459 56 0.00 7701778 20.862
460 1694 0.00 7703472 20.867
461 14 0.00 7703486 20.867
462 28 0.00 7703514 20.867
464 42 0.00 7703556 20.867
465 490 0.00 7704046 20.868
466 112 0.00 7704158 20.869
467 294 0.00 7704452 20.870
468 26099780 70.70 33804232 91.568
Cutoff Price 3112928 8.43 36917160 100.000

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being the National Stock Exchange Limited ("NSE") on October 04,2010.

A. Allocation to Retail Individual Investors (Including Applications Supported by Blocked Amount ("ASBA") (After Technical Rejections)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or above the Issue Price of Rs.450/- per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.97 times and hence allotment was done on full and firm basis to all valid applicants. There were 10339 applications for 13903932 equity shares made under ASBA process. Of these 9892 applications for 3690679 equity shares were found valid and they were considered for allotment on full and firm basis. Unsubscribed portion in retail category was allocated to QIB and Non Institutional Investor in the ratio of 6:1. The total number of shares allotted in Retail Individual Investor category is 3432464 Equity Shares which were allotted to 30522 successful applicants.

B. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non-Institutional Investors, who have bid at or above the Issue Price of Rs.450/- per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 1.43 times. Overall 70 applications for 1192187 equity shares were found valid and they were considered for allotment on full and firm basis.

C. Allocation to QIBs

The Basis of Allocation to the Qualified Institutional Bidders, who have bid above the Issue price of Rs.450/- per Equity Share was finalized on the price priority basis. Overall 38 applications for 23847866 Equity Shares were found valid and the quantum of shares allotted to this category is 5114665 and on proportionate basis.

CATEGORY Fls/Banks Flls MFs ICs PFs Others Total
No.of equity Shares allocated 606066 2870442 533138 1102955 2064 - 5114665

D. Anchor Investors

The Company allotted 2,038,461 equity shares to 14 Anchor Investors in consultation with the Lead Managers.

The IPO Committee of the Board of Directors of the Company at its Meeting held at Hyderabad on 5th October, 2010 has approved the basis of allocation of Equity Shares of the Issue and has accordingly allotted the Equity Shares to the Bidders.
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the Bidders as registered with the depositories on or prior to 06.10.2010. Further, the instructions to Serf Certified Syndicate Banks have been dispatched on or prior to 05.10.2010. In case the same is not received within 10 days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account 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 twelve working days from the date of closure of the Issue.

INVESTORS PLEASE NOTE
On page no 28 of the Prospectus dated September 28,2010, please read the Paid Up Share Capital after the Issue as 57,197,791 instead of 57,197,790.

This 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 correspondence in this regard may kindly be addressed to the Registrar 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, place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited
Unit: Ramky Infrastructure Limited 7 to24 Vithalrao Nagar, Hitech City Road, Madhapur
Hyderabad - 500 081, Fax: 040-23420814, Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER - 1-800-3454001

Place: Mumbai
Date : October 06,2010
For Ramky Infrastructure Limited
Sd/-
V.Phani Bhushan
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF RAMKY INFRASTRUCTURE LIMITED.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

Ramky Infrastructure Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Prospectus with the Registrar of Companies (ROC). The Prospectus is available on the website of SEBI at www.sebi.gov.in and the websites of the BRLMs at www.enam.com, www.db.com/lndia

Ramky Infra IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Ramky Infra IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Ramky Infra 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 Ramky Infra IPO basis of allotment status?

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

    Visit the Ramky Infra IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Ramky Infra IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Ramky Infra 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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