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Redington IPO Details

Issue Open Jan 22, 2007
Issue Close Jan 25, 2007
IPO Price ₹113
Face Value ₹10
IPO Size ₹149.51 Cr
Listing At BSE, NSE
IPO Lot Size 60

REDINGTON (INDIA) LIMITED

(The Company was incorporated as G. Kewalram Private Limited on May 2,1961 with the Registrar of Companies, Maharashtra. On December 9,1981, the name of the Company was changed to Kewalram Private Limited and subsequently to Redington (India) Private Limited on April 28,1987. The registered office of the Company was transferred to Chennai, Tamil Nadu by the Company Law Board's order dated July 13,1994. The name was changed to Redington (India) Limited with effect from October 01,1996 with the Registrar of Companies, Tamil Nadu on which date the Company became a public limited company. Subsequently, on January 10,2002. the word 'Private* was inserted in the name of the Company pursuant to Section 43A (2A). The word 'private' was deleted from the name of the Company pursuant to Section 44 (a) of the Companies Act, 1956, and the Company became a public company with effect from March 15,2002)

Registered Office: SPL Guindy House, 95, Mount Road, Guindy, Chennai 600 032. Tel: +91 44 2235 3313/4224 3535; Fax: +9144 2235 2790, Website: www.redingtonindia.com. Corporate office: SPL Guindy House, 95, Mount Road, Guindy, Chennai 600 032. Tel: +9144 22353313/ 42243535, Fax: +9144 22352790.
Contact person and compliance officer: Mr. M. Muthukumarasamy,
Tel: + 91 44 39181300, Fax: + 91 44 39181333, Email: investors@redington.co.in

BASIS OF ALLOTMENT

PUBLIC ISSUE 0F 13,231,000 EQUITY SHARE8 OF RS. 10 EACH ('EQUITY SHARES') FOR CASH AT A PRICE OF R8.113/-PER EQUITY SHARE, AGGREGATING RS. 1,495.10 MILLION. THE ISSUE SHALL CONSTITUTE 16.99% OF THE FULLY DILUTED POST-ISSUE CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 113/- PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH.
THE ISSUE PRICE IS 11.3 TIMES OF THE FACE VALUE

In terms of Rule 19 (2)(b) of the Securities Contract Regulation Rules, 1957 this being an Issue for less than 25% of the post-Issue capital, the Issue was being made through the 100% Book Building Process wherein at least 60% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'), out of which 5% shall be available for aBocatlon on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QiBs and Mutual Funds, subject to valid bids being received from them at or above the Issue Price, if at least 60% of the Net Issue cannot be allocated to QIBs, then the entire application money will be refunded forthwith. Further, up to 10% of the Net Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 30% of the Net Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price. The Issue received 107262 appplications for 574987260 equity shares resulting In 43.46 times subscription. The details of the applications received In the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under (Before technical rejections):

Category No. of Applications No. of Shares bid Subscription
Retail Bidders 106839 47011940 11.84
Hon Institutional Bidders 260 54444040 41.15
Qualified Institutional Bidders 163 473531280 59.65
TOTAL 107262 574967260

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
95 3778020 0.65 580576860 100.00
96 12780 0.00 576798840 99.35
97 1140 0.00 576786060 99.35
98 306720 0.05 576784920 99.35
99 1380 0.00 576478200 9929
100 991620 0.17 576476820 99.29
101 31860 0.01 575485200 99.12
102 9540 0.00 575453340 99.12
103 12660 0.00 575443800 99.12
104 53640 0.01 575431140 99.11
105 2701200 0.47 575377500 99.10
106 11460 0.00 572676300 98.64
107 160920 0.03 572664840 98.64
108 720 0.00 572503920 98.61
109 900 0.00 572503200 98.61
110 218100 0.04 572502300 98.61
111 28380 0.00 572284200 9857
112 300 0.00 572255820 98.57
113 & CUTOFF PRICE 572255520 98.57 572255520 98.57

The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited ('NSE') on February 6,2007.

A) Allocation to Retail Investors
The Basis at Allocation to the Retal Investors, who have bid at cut-off or at the Issue Price of Rs.113/-par Equity Share, was finalized in consultant with NSE. The category was subscribed 11.40 times. The total numbe of snares allotted in this category is 3969310 Equity Shares. The category-wise Basis of Allocation (Sample) are as under:

Category No. of Applications %to
total
No. of Equity Shares applied %to total No. of
Equity Shares allocated
Ratio Total No. ofEquity Shares allocated
60 14712 14.33 882720 1.95 60 5:57 77400
120 11415 11.12 1369800 3.03 60 10:57 120180
180 7816 7.62 1406880 3.11 60 5:19 123360
240 5220 5.09 1252800 2.77 60 20:57 109920
300 4470 4.36 1341000 2.98 60 25:57 117660
360 2685 2.62 966600 2.14 60 10:19 84600
420 19253 18.76 8086260 17.88 60 32:52 710880
480 1721 1.68 826080 1.83 60 33:47 72480
540 666 0.65 359640 0.80 60 26:33 31500
600 1000 0.97 600000 1.33 60 7:8 52500
660 414 0.40 273240 0.60 60 26:27 23880
720 407 0.40 293040 0.65 63 FIRM 25641
780 421 0.41 328380 0.73 68 FIRM 28628
840 32438 31.60 27247920 6054 73 FIRM 2367974
840Addln 1 70:100 22707
Total 102638 100.00 45234360 100.00 3969310

B) Allocation to Non Institutional investors
The Basis of Allocation to the Non institutional, who have bid at the Issue Price of Rs 113/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 41.12 times. The total number of shares allotted in this category is 1323090 Equity Shares. The category-wise details of the Basis of Allocation (Sample) 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
900 27 11.69 24300 0.04 60 10:27 600
960 9 3.90 8640 0.02 60 4:9 240
1020 4 1.73 4080 0.01 60 1:2 120
1080 1 0.43 1080 0.00 60 FIRM 60
1200 1 0.43 1200 0.00 60 FIRM 60
1260 2 0.87 2520 0.00 60 1:2 60
1320 5 2.16 6600 0.01 60 3:5 180
1740 1 0.43 1740 0.00 60 FIRM 60
1800 2 0.87 3600 0.01 60 FIRM 120
1980 1 0.43 1930 0.00 60 FIRM 60
2040 1 0.43 2040 0.00 60 FIRM 60
2100 3 1.30 6300 0.01 60 FIRM 180
2160 2 0.87 4320 0.01 60 FIRM 120
2220 6 2.60 13320 0.02 60 FIRM 360
2400 3 1.30 7200 0.01 60 FIRM 180
2700 1 0.43 2700 0.00 66 FIRM 66
3000 4 1.73 12000 0.02 73 FIRM 292
3120 1 0.43 3120 0.01 76 FIRM 76

C) Allocation to Qualified Institutional Buyers
Allocation to QIBs have been done on a proportionate basis in consultation with the National Stock Exchange Limited. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (396930) and other QIBs and unsatisfied demands of Mutual funds were allotted the remaining available shares (7541670) on proportionate basis. Mutual Funds were allotted 19.32% for QIB segment and other OIB applicants were allotted 80.68% of the shares for QIB segment.

Category FIs/ Barries MFs FilS Insurance Companies VCs Total
No. of Shares 916417 1534084 5073372 411166 3561 7938600

The IPO committee at its Meeting held at Chennai on February 6,2007 has approved the basis of alocation of shares of the Issue and has allotted the shares to various successful applicants.

The Refund Orders and allotment advice and notice has 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 over-printed wit 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 National Stock Exchange of India Limited and Bombay Stock Exchange Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
This details of the allocation mads would be hosted on the website of Registrars to the Issue, Cameo Corporate Service Limited at www.cameoindia.com

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, DPID, Client ID, 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:

CAMEO CORPORATE SERVICES LIMITED
'Subramanian Building', No. 1, Club House Road, Chennai 600 002, India
Tel: +91 44 28460390, Fax: +91 4428460129, Email: redington@cameoindia.com, Website: www.cameoindia.com


Place : Mumbai
Date : February 12,2007

For Redington (India) Limited
sd/-
Company Secretary

THE LEVEL OF SUBCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF REDINTON(INDIA) LIMITED

Redington IPO Basis of Allotment FAQs

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

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

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