TAKE Solutions IPO Details

Issue Open Aug 1, 2007
Issue Close Aug 7, 2007
IPO Price ₹730
Face Value ₹10
IPO Size ₹153.30 Cr
Listing At BSE, NSE
IPO Lot Size 9

TAKE SOLUTIONS LIMITED

(Originally incorporated under the Companies Act, 1966 on December 20,2000 as TAKE Solutions Private Limited and registered with the Registrar of Companies, Tamil Nadu. Pursuant to a Scheme of Amalgamation, a company namely, Millennium Infocomm Limited was merged with the Company w.e.f. January 1,2003 i.e. the Appointed Date; the Scheme of Amalgamation came into effect on February 23,2004 i.e. the Effective Date and the word 'Private' was deleted from the name of the Company by the Registrar of Companies, Tamil Nadu on March 29,2004.)
Registered Office: # 76, Venkatakrishna Road, Raja Annamalaipurum, Chennai 600028, India; 
Tel: (+91 44) 2461 7358; Fax: (+91 44) 2461 73,
Corporate Office: # 80/81, MBC Towers, 6ft Floor, TTK Road, Alwarpet, Chennai 600 018, India;
Tel: (+91 44) 6696 4200, 6696 5555,
Contact Person: Mr. Venkataraman Sundar-Vice President - Finance & Company Secretary;
Tel: (+91 44) 6696 4200, 6696 5555
Email: ipo@takesolutions.com Website: www.takesolutions.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 2,100,000 EQUITY SHARES OF RS. 10 EACH (EQUITY SHARES) OF TAKE SOLUTIONS LIMITED ('TAKE' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 730 PER EQUITY SHARE AGGREGATING RS .1533 MILLION (THE 'ISSUE'). THE ISSUE COMPRISES OF A NET ISSUE TO THE PUBLIC OF 2,000,000 EQUITY SHARES ('NET ISSUE') AND THE RESERVATION OF 100,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE 'EMPLOYEE RESERVATION PORTION') AT THE ISSUE PRICE. THE ISSUE WILL CONSTITUTE 17.50% OFTHE FULLY DILUTED POST ISSUE PAID UP EQUITY CAPITAL OF THE COMPANY. THE NET ISSUE CONSTITUTES 16.67% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF THE COMPANY.

ISSUE PRICE: RS. 730 PER EQUITY SHARE OF FACE VALUE OF Rs. 10 EACH. THE ISSUE PRICE IS 73 TIMES OF THE FACE VALUE

In terms of Rule 19(2)(b) of the Securities Contracts (Regulations) Rules, 1957, the Net Issue being 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 shall be allotted on a proportionate basis io Qualified Institutional Buyers ('QIBs') out of which 5% shall be available for allocation on a propotionate basis to Mutual Funds only. If at least 60% of the Net Issue cannot be allotted to QIBs, then the entire application money will be refunded. Further upto 10% of the Net Issue will be available for allocation to for allocation to Non-Institutional  Bidders on a proportionate basis and up to 30% of the Net Issue will be available for allocation to Retail Individual Bidders on a proportionate basis, subject to valid bids being received at or above the Issue Price. Further 100,000 Equity Shares shall be available for allocation on a proportionate basis to Eligible Employees subject to valid bids being received at or above the Issue Price.

The Board of Directors of TAKE Solutions Limited wishes to thank the investing public for their response to the Issue which opened for subscription on August 1,2007 and closed on August 7,2007. The Issue received 157097 application for 120900366 equity shares resulting In 57.5716 times subscription.

The Basis of Allotment for all the categories namely Retail individual Investors, Non Institutional Investors, Qualified Institutional Buyers and Employees was approved by The Bombay Stock Exchange Limited (Designated Stock Exchange) on Aug 20,2007. The IPO Allotment Committee of the Board of Directors at its Meeting held at Chennai, on Aug 21,2007, allotted the Equity Shares to the successful applicants.

The details of valid appllications received and allotments are as under:

Category No. of applications No. of shares applied for No. of shares allocated
Qualified Institutional Buyers 164 90164763 1200000
Non Institutional Investors 320 16699077 199997
Retail Individual Investors 154000 13274604 600003
Employees 85 103797 100000

Note: 3 excess equity shares have been allotted in Retail category due to rounding off.

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
675 1648089 1.2960 127166967 100.0000
676 162 0.0001 125518878 98.7040
677 126 0.0001 125518716 98.7039
678 9 0.0000 125518590 967038
679 9 0.0000 125518581 98.7038
680 531 0.0004 125518572 98.7038
681 270 0.0002 125518041 98.7033
684 2871 0.0023 125517771 98.7031
685 162 0.0001 125514900 98.7009
688 144 0.0001 125514738 98.7007
690 945 0.0007 125514594 98.7006
692 9 0.0000 125513649 98,6999
693 18 0.0000 125513640 98.6999
694 8064 0.0063 125513622 98.6999
700 1299267 1.0217 125505558 98.6835
701 189 0.0001 124206291 97.6718
702 54 0.0000 124206102 97.6717
703 36 0.0000 124206048 97.6716
704 135 0.0001 124206012 97.6716
705 324 0.0003 124205877 97.6715
710 52632 0.0414 124205553 97.6712
714 135 0.0001 124152921 97.6299
715 189 0.0001 124152786 97.6297
720 51831 0.0408 124152597 97.6296
725 855 0.0007 124100766 975888
728 18 0.0000 124099911 975882
729 144 0.0001 124099893 97.5862
730 110532681 86.9193 124099749 97.5880
9999 13567068 10.6687 13567068 10.6687
TOTAL 127166967

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange-Bombay Stock Exchange Limited('BSE') on Aug 20,2007.

A. Allotment to Retail Individual Investors (After Technical Rejections)
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs 730/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 22.124340 times. The total number of shares allotted in this category is 600003 Equity Shares. The category-wise details of the Basis of Allotment (sample) are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
9 15351 9.97 138159 1.04 9 4:89 6228
18 10667 6.93 192006 1.45 9 9:100 8658
27 8476 5.50 228852 1.72 9 12:89 10305
36 6604 4.29 237744 1.79 9 9:50 10701
45 5761 3.74 259245 1.95 9 23:102 11691
54 3564 2.31 192456 1.45 9 7:25 8982
63 19179 12.45 1208277 9.10 9 32:101 54693
72 3931 2.55 283032 2.13 9 9:25 12744
61 1566 1.02 126646 0.96 9 41:101 5724
90 2535 1.65 228150 1.72 9 23:51 10287
99 1564 1.02 154836 1.17 9 50:101 6975
108 1331 0.86 143748 1.08 9 27:50 6471
117 1003 0.65 117351 0.88 9 59:100 5328
126 2142 1.39 269892 2.03 9 63:100 12159
135 70326 45.67 9494010 71.52 9 61:90 429057

B. Allotment to Non Institutional Investors (After Technical Rejections)
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price of Rs,730/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 82.865295 times. The total number of shares allotted in this category Is 199997 Equity Shares. The category-wise details of the Basis of Allotment (Sample) are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
198 5 1.56 990 0.01 9 15 9
207 4 1.25 828 0.01 9 1:4 9
216 1 0.31 216 0.00 9 FIRM 9
270 14 4.38 3780 0.02 9 5:14 45
279 1 0.31 279 0.00 9 FIRM 9
405 1 0.31 405 0.00 9 FIRM 9
459 1 0.31 459 0.00 9 FIRM 9
495 2 0.63 990 0.01 9 12 9
594 1 0.31 594 0.00 9 FIRM 9
675 4 1.25 2700 0.02 9 3:4 27
1449 1 0.31 1449 0.01 17 FIRM 17
2700 1 0.31 2700 0.02 33 FIRM 33
3699 1 0.31 3699 0.02 45 FIRM 45
6984 1 0.31 6984 0.04 84 FIRM 84
9585 1 0.31 9585 0.06 116 FIRM 116
13230 1 0.31 13230 0.08 160 FIRM 160
16434 1 0.31 16434 0.10 198 FIRM 198
27000 5 1.56 135000 0.81 326 FIRM 1630
36000 2 0.63 72000 0.43 435 FIRM 870
52740 1 0.31 52740 0.32 636 FIRM 636
39993 3 0.94 299997 1.81 1207 FIRM 3621
116442 2 0.63 232884 1.41 1405 FIRM 2810

C. Allotment to Employees
The Basis of Allotment to the Employees category, who have bid at cut-off or at the Issue Price of Rs. 730/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 1.037970 times. The total number of shares allotted in this category is 100000 Equity Shares. The category-wise details of the Basis of Allotment (Sample) are as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Snares allocated
9 13 15.29 117 0.11 9 FIRM 117
54 4 4.71 216 0.21 52 FIRM 208
108 3 3.53 324 0.31 104 FIRM 312
225 2 2.35 450 0.43 217 FIRM 434
999 1 1.18 999 0.96 962 FIRM 962
1062 1 1.18 1062 1.02 1023 FIRM 1023
1350 1 1.18 1350 1.30 1301 FIRM 1301
1638 1 1.18 1638 1.58 1578 FIRM 1578
2754 1 1.18 2754 2.65 2653 FIRM 2653
5004 1 1.18 5004 4.82 4821 FIRM 4821
17001 1 1.18 17001 16.38 16379 FIRM 16379
19993 1 1.18 19998 19.27 19266 FIRM 19266
20007 1 1.18 20007 1928 19275 FIRM 19275

D. Allotment to QIBs
Allotment to QIBs have been done on a proportionate basis in consultation with the Bombay Stock Exchange Limited. The total numbers equity Shares allotted in this category are 1200000 Equity shares (60% of total equity shares alloted).Out of 1200000 Equity Shares offered to QIBs as per the terms of the Issue, 60000 Equity Shares (i.e 5% of 1200000 Equity Shares) has been allotted proportionately to mutual funds. Mutual funds applicants have also been considered eligible for proportionate allotment for the balance Equity shares in QIBs category i.e 1140000. The category was over subscribed 75.1373 times. The category-wise details of the Basis of Allotment are as under:

Category Insurance Companies MFs Flls Fls/Banks VC Total
No. of Shares 56120 196662 739451 194518 13249 1200000

The IPO Allotment Committee of the Board of Directors at Its Meeting held at Chennai on August 21,2007 has adopted the Basis of allotment of Equty shares in the Issue, approved by BSE and allotted 2100000 Equity Shares to the successful applicants.

Dates of dispatch of Refund Orders, Credit to beneficiary Accounts, Refund Instructions and Listing details
Activity Date of Completion
Approval of Basis of Allotment by BSE August 20,2007
Dispatch of Allotment Advices, Refund Orders and ECS Intimation Note August 22,2007
Refund Instructions to the Clearing System (in case of Refunds through ECS system) August 22,2007
Listing Application to BSE & NSE August 22.2007
Credit to beneficiary Accounts August 22,2007

The Refund Orders have been made through ECS, Direct Credit, RTGS and NEFT into the Bank Account of the applicants, as registered with the depositories, for applicants residing at any of the 15 centers specified by SEBI. In respect of refunds due to other applicants has been dispatched to the addresses 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. ECS Intimation Note and 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 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 seven working days from the date of approval of the Basis of Allotment.

INVESTORS PLEASE NOTE
The details of the allotment made would be 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 Registrars to the Issue quoting full name of the First/ Sole applicant, Serial number of the Bid-cum-Application form, 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:

Intime Spectrum Registry Limited
C-13 Pannalal Silk Mills Compound, L B S Marg, Bhandup (W), Mumbal 400 078
Tel: +912225960320; Fax:+912225960328/29,
E-mail: take.ipo@intimespectrum.com Website: www.intimespectrum.com
Contact Person: Mr, Sachin Achar

Place: Chennai
Date : August 21, 2007

For TAKE Solutions Limited
Sd/-
Managing Director

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 TAKE SOLUTIONS LIMITED.

TAKE Solutions IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in TAKE Solutions IPO?

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

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

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

  3. 3. What is TAKE Solutions IPO allotment process?

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