Issue Open | Nov 23, 2006 |
Issue Close | Nov 29, 2006 |
IPO Price | ₹640 |
Face Value | ₹10 |
IPO Size | ₹569.17 Cr |
Listing At | BSE, NSE |
IPO Lot Size |
SOBHA
DEVELOPERS LIMITED
(The Company was incorporated as Sobha Developers Private Limited on
August 7,1995. The Status of the Company was subsequently changed to a public limited
company by a special resolution of the members passed of an extraordinary general meeting
held on May 8, 2006. The fresh certificate of incorporation consequent on change of name
was granted to the Company on June 2, 2006 by the Registrar of Companies, Karnataka
Registered Office: E-106, Sunrise Chambers, 22, Ulsoor Road, Bangalore - 560042, India) BASIS OF ALLOCATION PUBLIC ISSUE OF 8,893,332 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 640 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 630 PER EQUITY SHARE, AGGREGATING RS. 5,691.73 MILLION (THE "ISSUE") BY SOBHA DEVELOPERS LIMITED (THE "COMPANY"OR'THE ISSUER'). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 8,004,032 SHARES OF RS. 10 EACH (THE "NET ISSUE") AND A RESERVATION OF UP TO 889,300 SHARES OF RS. 10 EACH FOR THE PERMANENT EMPLOYEES OF THE COMPANY (THE "EMPLOYEE RESERVATION PORTION'). THE ISSUE WOULD CONSTITUTE 12.20% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY THE NET ISSUE WILL CONSTITUTE 10.98% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY ISSUE PRICE: RS. 640/- PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH. THE ISSUE PRICE IS 64 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 allocation 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. Further, up to 889,300 Equity Shares shall be available for allocation on a proportionate basis to the Eligible Employees, subject to valid Bids being received at or above the Issue Price. The Issue received 493238 applications for 1013204575 equity shares resulting in 113:9286 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors, Employee categories are as under (Before technical rejections):
Final Demand The final demand at different bid prices is as under:
The Basis of Allocation was finalized in consultation with the National Stock Exchange of India Limited("NSE") on December 11, 2006. A.Allocation to Employees
B. Allocation to Retail investors The Basis of Allocation to the Retail Investors, who have bid at cut-off or at the Issue Price of Rs.640/- per Equity Share, was finalized in consultation with NSE. The category was over subscribed 20.12689 times. The total number of shares allotted in this category is 2408490 Equity Shares (Including 3715 Shares spill over from Employee Category). The category-wise details of the Basis of Allocation are as under:
C.Allocation to Non Institutional Investors The Basis of Allocation to the Non institutional, who have bid at the Issue Price of Rs. 640/- per Equity Share, was finalized in consultation with NSE. The category was subscribed 189.45564 times. The total number of shares allotted in this category, is 804015 Equity Shares (Including 3715 Shares spill over from Employee Category). The category-wise details of the Basis of Allocation (Sample) are as under:
D. 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 shores available (240123) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (4562327) on proportionate basis. The sectoral cap and other limits applicable to the holding of shares in company have been taken into account while allotting shares. Mutual Funds were allotted 16.6296% for QIB segment and other QIB applicants were allotted 83.3704% of the shares for QIB segment.
The Board of Directors of the company of its Meeting held at Bangalore on December 12, 2006 has approved the basis of allocation 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 with 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. INTIME SPECTRUM REGISTRY LIMITED
|
The Sobha IPO basis of allotment (published above) tells you how shares are allocated to you in Sobha IPO and category wise demand of IPO share.
Visit the Sobha IPO allotment status page to check the number of shares allocated to your application.
Useful Articles
Best of
Top Stock Brokers in India Top 10 Discount Brokers Top 10 Full-Service Brokers Lifetime Free Demat Account Best Broker for Beginners More Reports...Reviews (Discount Broker)
Zerodha (₹20/trade) Edelweiss (₹10/trade) Upstox (₹20/trade) 5paisa (₹20/trade) ProStocks (₹899 Unlimited) More Brokers...Reviews (Full-service)
ICICI Direct Motilal Oswal HDFC Sec Sharekhan IIFL Securities More Brokers...Compare Brokers
Broker Articles / Tutorials Compare Share Brokers Side-by-Side Comparison Broker Complaints Monitor Broker Glossary Special OffersTrading Platform Reviews
Zerodha Kite Review Sharekhan TradeTiger Omnesys NEST Review ODIN Review NSE NOW Review More Reviews...Options Basics
Options Trading HomepageBroker Reviews
Zerodha Review 5paisa Review ProStocks Review Sharekhan Review Angel Broking Review ICICI DirectOptions Trading Platform
Kite Zerodha Trade Tiger Sharekhan Omnisys NEST Upstox RKSV Fyers One Fyers ScalperT FinvasiaBest of
NRI HomepageNRI Trading Guide
Trading Account Basics Trading Requirements Demat Account Explained USA NRI Trading Account Trading in Derivatives More Articles...History of Chittorgarh
History of Chittorgarh Maharana Pratap Meera Bai Panna Dhai Rani Padmini Jainism & Chittor (Hindi)Chittorgarh City Info
Chittorgarh City Map Hotels / Resorts Sainik School Chittorgarh Cement Industry Hindustan Zinc