Religare IPO Details

Issue Open Oct 29, 2007
Issue Close Nov 1, 2007
IPO Price ₹185
Face Value ₹10
IPO Size ₹140.16 Cr
Listing At BSE, NSE
IPO Lot Size 35

Religare Enterprises Limited

(The Company was incorporated as Vajreshwari Cosmetics Private limited on January 30,1984. The name of the Company was subsequent changed to "Religare Enterprises Private Limited" pursuant to a special resolution of the members of the Company dated January 10,2006. The fresh certificate of incorporation consequent to the change of name was granted to the Company on January 31,2006, by the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh at Jalandhar. The status was subsequently changed to a public limited company and the word "private" has been deleted from the nameof the Company by a special resolution of the members of the Company passed at the annual general meeting held on July 14,2006, The fresh certificate of incorporation consequent to change of name was granted to the Company on August 11,2006 by the Registrar of Companies, NCT at New Delhi.)
Registered and Corporate Office: 19, Nehru Place, New Delhi - 110 019, India, Telephone: +91 11 3081 5100 / 6655 2200; Facsimile: +911130815288; Company Secretary and Compliance Officer: Mr. Ravi Batra; Email: investorservices@religare.in, Website: www.religare.in

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 75,76,102 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 185/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 175/- PER EQUITY SHARE) AGGREGATING TO RS 1401.58 MILLON (REFERRED TO AS "THE ISSUE"). THE ISSUE CONSTITUTED 10% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF RELIGARE ENTERPRISES LIMITED ("COMPANY" OR "ISSUER").
THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 185/- AND IS 18.5 TIMES THE FACE VALUE.

The Equity Shares of the Company are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and Bombay Stock Exchange Limited ("BSE") and trading is expected to commence on or about November 21, 2007.
The Issue made through the 100% Book Building Process wherein at least 60% of the 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 was made available for allocation on a proportionate basis to Non-lnstitutional Bidders and up to 30% of the Issue was made 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 6,42,513 applications for 120,76,51,396 equity shares resulting in 159.40 times subscription. The details of the Applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual investor categories are as under (Before technical rejections)

Category No. of Applications No. of Equity Shares Subscription
Qualified Institutional Buyers 285 84,13,71,545 185.09
Non Institutional Investors 2,465 15,99,91,320 211.17
Retail Individual Investors 6,39,763 20,62,88,531 90.76

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

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
160 84175 0.01 1216340055 100.00
161 735 0.00 1216255880 99.99
162 1155 0.00 1216255145 99.99
163 1505 0.00 1216253990 99.99
164 350 0.00 1216252485 99.99
165 14420 0.00 1216252135 99.99
166 315 0.00 1216237715 99.99
167 735 0.00 1216237400 99.99
168 5040 0.00 1216236665 99.99
169 245 0.00 1216231625 99.99
170 30170 0.00 1216231380 99.99
171 455 0.00 1216201210 99.99
172 1050 0.00 1216200755 99.99
173 12075 0.00 1216199705 99.99
174 105 0.00 1216187630 99.99
175 79485 0.01 1216187525 99.99
176 770 0.00 1216108040 99.98
177 385 0.00 1216107270 99.98
178 9135 0.00 1216106885 99.98
179 665 0.00 1216097750 99.98
180 81725 0.01 1216097085 99.98
181 560 0.00 1216015360 99.97
182 1120 0.00 1216014800 99.97
183 1715 0.00 1216013680 99.97
184 3710 0.00 1216011965 99.97
Rs. 185 & at Cut Off 1216008255 99.97 1216008255 99.97
1216340055 100.00

The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, the NSE on 13th November, 2007.
The final demand at different bid prices and allocation of shares in following 3 categories is as under:

A. Allocation to Retail individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.185/- per Equity Share, was finalized in consultation with the NSE. The category was over subscribed 89.137661 times. The total number of Equity Shares Allotted in this category is 22,72,831 Equity Shares to 64,938 successful 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
35 48481 7.75 1696835 0.84 35 1:89 19075
70 49554 7.92 3468780 1.71 35 2:89 38990
105 48955 7.82 5140275 2.54 35 3:89 57750
140 36601 5.85 5124140 2.53 35 4:89 57575
175 22965 3.67 4018875 1.98 35 5:89 45150
210 24652 3.94 5176920 2.56 35 6:89 58170
245 54655 8.73 13390475 6.61 35 7:89 150465
280 28325 4.53 7931000 3.91 35 8:89 89110
315 8242 1.32 2596230 1.28 35 1:10 28840
350 19945 . 3.19 6980750 3.45 35 1:9 77560
385 4715 0.75 1815275 0.90 35 4:33 20020
420 5633 0.90 2365860 1.17 35 2:15 26285
455 3218 0.51 1464190 0.72 35 13:90 16275
490 6519 1.04 3194310 1.58 35 7:45 35490
525* 263297 42.08 138230925 68.23 35 16:95 1552076

* One additional Equity Share was alloted to one amongst the 44345 successful! allottees on a random basis.

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non institutional investors, who have bid at the Issue Price of Rs.185/- per Equity Share, was finalized in consultation with the NSE. The category was subscribed 209.212925 times. The total number of Equity Shares Allotted in this category is 7,57,609 Equity Shares to 788 successful applicants. A sample of 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
560 192 11.33 107520 0.07 35 1:14 490
1015 31 1.83 31465 0.02 35 1:7 140
5005 6 0.35 30030 0.02 35 2:3 140
10010 4 0.24 40040 0.03 48 FIRM 192
15120 1 0.06 15120 0.01 72 FIRM 72
20020 1 0.06 20020 0.01 96 FIRM 96
52500 1 0.06 52500 0.03 251 FIRM 251
100030 2 0.12 200060 0.13 478 FIRM 956
200025 1 0.06 200025 0.13 956 FIRM 956
500500 1 0.06 500500 0.32 2392 FIRM 2392
1000020 1 0.06 1000020 0.63 4780 FIRM 4780
1514100 1 0.06 1514100 0.96 7237 FIRM 7237
2702700 5 0.30 13513500 8.53 12918 FIRM 64590
2703050 1 0.06 2703050 1.71 12920 FIRM 12920
3243240 1 0.06 3243240 2.05 15502 FIRM 15502
3783780 2 0.12 7567560 4.77 18086 FIRM 36172
7525000 1 0.06 7525000 4.75 35960 FIRM 35960

C. Allocation to QIBs (After Technical Rejections)
Allocation to QIBs has been done on a proportionate basis in consultation with the NSE. As per the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, Mutual Funds were initially Allotted 5% of the quantum of Equity Shares available (2,27,284) and other QIBs and unsatisfied demands of Mutual Funds were Allotted the remaining available Equity Shares (43,18,378) on proportionate basis.

Category Fls/Banks MFs Flls ICs Total
No.of Equity Shares 7,81,087 8,39,803 26,51,636 2,73,136 45,45,662

The Board of Directors of the Company at their meeting held at Hyderabad on 14th November, 2007 have approved the basis of allocation of Equity Shares pursuant to the Issue and have allotted the Equity Shares to various successful applicants. The CAN/Refund Orders, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or direct credit) and allotment advice and notices have been dispatched to the address of the investors as registered with the depositories by November 16,2007. 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 allocated to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned by November 16,2007. The listing applications has been filed with the NSE and the BSE on November 16,2007, and the Company is taking steps to get the Equity Shares admitted for trading on the BSE and the NSE within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of the Registrar to the Issue, Karvy Computershare Private Limited at http://kcpl.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 and place where the Bid was submitted and payment details at the address given below:

KARVY COMPUTERSHARE PRIVATE UMITED
Unit: Religare, Plot No. 17 to 24, Vithalrao Nagar, Hitech City Road, Madhapur
Hyderabad-500081, Fax: 040-23420814
Email: einward.ris@Karvy.com
TOLL FREE - HELPLINE NUMBER 1 -800-3454001

Place: New Delhi
Date: November 19, 2007
For Religare Enterprises Limited
Sd/-
Ravi Batra
Company Secretary and Compliance Officer

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 RELIGARE ENTERPRISES LIMITED.

Religare IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Religare IPO?

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

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

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

  3. 3. What is Religare IPO allotment process?

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