Tanla IPO Details

Issue Open Dec 11, 2006
Issue Close Dec 14, 2006
IPO Price ₹265
Face Value ₹2
IPO Size ₹378.86 Cr
Listing At BSE, NSE
IPO Lot Size 25

TANLA SOLUTIONS LIMITED

(Incorporated underthe Companies Act, 1956 as a public limited company in the name of Maruti Dairy Products Limited on 28th July, 1995 in Hyderabad. The name of the Company was changed to Prism Foods Limited on 18th March, 1996. Subsequently, the name of the Company was changed to Tanla Solutions Limited on 18th March, 2000.)

REGISTERED OFFICE: Regd. Office: Tanla Technology Centre, Hitech City Road, Madhapur, Hyderabad 500 081. Tel:+91-40-40099999, Fax:+91-40-23122999.
email: fpo@tanlasolutions.com Website: www.tanlasolutions.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 1,58,85,000 EQUITY SHARES OF RS. 2/- EACH FOR CASH AT A PRICE OF RS. 265/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 263/ - PER EQUITY SHARE) AGGREGATING TO RS 4,209.53 MILLION (REFERRED TO AS "THE ISSUE"). THE ISSUE COMPRISED A PROMOTER CONTRIBUTION OF 15,88,500 EQUITY SHARES OF RS. 2/- EACH FOR CASH AT A PRICE OF RS.265/- PER EQUITY SHARES AGGREGATING TO RS. 420.95 MILLION. AND THE NET OFFER TO THE PUBLIC OF 1,42,96,500 EQUITY SHARES OF RS.2/- EACH FOR CASH ATA PRICE OF RS.265/- PER EQUITY SHARES AGGREGATING TO RS. 37,88.57 MILLION. THE NET ISSUE CONSTITUTES 28.59% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF TANLA SOLUTIONS LIMITED. ("COMPANY" OR "ISSUER").

THE FACE VALUE PER EQUITY SHARE IS RS.2/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 265/- AND IT IS 26.5 TIMES THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein at least 50% of the net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ("OIBs") (including 5% of the QIB portion that was to specifically be allotted to mutual funds), further, up to 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and up to 35% of the Issue shall be 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 2,41,900 applications for 55,14,27,249 equity shares resulting in 34.71 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 Shares bid Subscrlpdon
Qualified Institutional Buyers 205 407380025 56.99.
Non Institutional Investors 744 88022660 41.04
Retail Individual Investors 240949 54436064 10.88

Final Demand
A sample of the final demand at different bid prices is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
230 383500 0.07 552494125 100.00
231 800 0.00 552110625 99.93
232 150 0.00 552109825 99.93
233 10600 0.00 552109675 99.93
234 150 0.00 552099075 99.93
235 4525 0.00 552098925 99.93
236 0 0.00 552094400 99.93
237 0 0.00 552094400 99.93
238 75 0.00 552094400 99.93
239 50 0.00 552094325 99.93
240 37225 0.01 552094275 99.93
241 0 .0.00 552057050 99.92
242 175 0.00 552057050 99.92
243 0 0.00 552056875 99.92
244 150 0.00 552056875 99.92
245 69750 0.01 552056725 99.92
246 0 0.00 551986975 99.91
247 150 0.00 551986975 99.91
248 11950 0.00 551986825 99.91
249 800 0.00 551974875 99.91
250 321525 0.06 551974075 99.91
251 275 0.00 551652550 99.85
252 25 0.00 551652275 99.85
253 50 0.00 551652250 99.85
254 0 0.00 551652200 99.85
255 11075 0.00 551652200 99.85
256 75 0.00 551641125 99.85
257 100 0.00 551641050 99.85
258 0 0.00 551640950 99.85
259 25 0.00 551640950 99.85
260 15825 0.00 551640925 99.85
261 25 0.00 551625100 99.84
262 50 0.00 551625075 99.84
263 125 0.00 551625025 99.84
264 2075 0.00 551624900 99.84
265 & Cut off price 551622825 99.84 551622825 99.84
TOTAL 552494125 100.00

The Basis of Allocation was finalized in consultation with Bombay Stock Exchange Limited ("BSE") on 27th December, 2006.
A Allocation to Retail Individual Investors (After Technical Rejections)
The Basis Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs.265/- per Equity Share, was finalized in consultation with BSE. The Category was  over subscribed 10.66 times. The  total number of shares allotted in this in is category is 5003775 Equity Shares to 161854 successful applicants: The category-wise details of the Basis of Allocation are as under:

Category No. of
Applications
% to
total
No. of Shares
applied
% to
total
No. of Shares
allocated
Ratio Total No. of
Shares allocated
25 17917 7.63 447925 0.84 25 3:28 48000
50 17360 7.39 868000 1.63 25 4:21 82675
75 8288 3.53 621600 1.17 25 2:7 59200
100 19538 8.32 1953800 3.66 25 8:21 186075
125 4848 2.06 606000 1.14 25 10:21 57725
150 6963 2.97 1044450 1.96 25 4:7 99475
175 51882 22.09 9079350 17.03 25 19:29 849800
200 5776 2.46 1155200 2.17 25 16:21 110025
225 1107 0.47 249075 0.47 25 9:10 24900
250 1874 0.80 468500. 0.88 25 FIRM 46850
275 769 0.33 211475 0.40 26 FIRM 19994
ADDITIONAL 1 1:55 14
300 2258 0.96 677400 1.27 28 FIRM 63224
325 1331 0.57 432575 0.81 31 FIRM 41261
350 3594 1.53 1257900 2.36 33 FIRM 118602
375 91313 38.89 34242375 64.23 35 FIRM 3195955

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.265/- per Equity Share, was finalized in Consultation with BSE. The Category was subscribed 40.97 times. The total number of shares allotted in this Category is 2144475 Equity Shares to 592 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

Category No. of
Applications
% to
total
No. of Shares
applied
% to
total
No. of Shares
allocated
Ratio Total No. of
Shares allocated
400 57 8.70 22800 0.03 25 2:5 575
800 3 0.46 2400 0.00 25 2:3 50
1000 24 3.66 24000 0.03 25 FIRM 600
5000 7 1.07 35000 0.04 122 FIRM 854
10000 15 2.29 150000 0.17 244 FIRM 3660
20000 4 0.61 80000 0.09 488 FIRM 1952
30000 11 1.68 330000 0.38 732 FIRM 8052
40000 11 1.68 440000 0.50 976 FIRM 10736
50000 3 0.46 150000 0.17 1220 FIRM 3660
80000 1 0.15 80000 0.09 1953 FIRM 1953
100000 11 1.68 1100000 1.25 2441 FIRM 26851
150000 3 0.46 450000 0.51 3661 FIRM 10983
200000 3 0.46 600000 0.68 4882 FIRM 14646
500000 1 0.15 500000 0.57 12204 FIRM 12204
1000000 3 0.46 3000000 3.41 24408 FIRM 73224
2500000 2 0.31 5000000 5.69 61021 FIRM 122042
3018850 1 0.15 3018850 3.44 73685 FIRM 73685
3773500 2 0.31 7547000 8.59 92105 FIRM 184210
14295000 1 0.15 14295000 16.27 348904 FIRM 348904

C. Allocation to QIBs
Allocation to OIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI guidelines, Mutual Funds were initially allotted 5% of the quantum of shares available (3,57,413) and other OIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (67,90,837) on proportionate basis.

Category Fls/ Banks MFs FIIS ICs Total
No.of Shares 974686 1151524 4930110 91930 7148250

The Committee of Directors of the Company at it's Meeting held at Hyderabad on 28th December, 2006 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.

The CAN-Cum-Refund Orders and allotment advice and notices have 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 Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS, PLEASE NOTE
Investors may Please note that new equity shares of the company allotted under Public Issue shall have the same ISIN as the existing equity shares Had on Hyderabad Stock Exchange, Ahmedabad Stock Exchange and Madras Stock Exchange. Investors should note that though new equity shares will be credited to their demat accounts, they can trade In the new equity shares only after ascertaining that trading approvals have been Issued and notified by Bombay Stock Exchange, National Stock Exchange, Hyderabad Stock Exchange, Ahmedabad Stock Exchange and Madras Stock Exchange.

This details all the allocation made would be head on the website of Registrars to the Issue, Karvy Computer Share Private Limited at www.karvy.com or http://karisma.karvy.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-cumapplication 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:

Kervy Computershare Private Limited
Unit: Tanla Solutions, Plot No. 17 to 24, Vitharao Nagar, Hitech City Road,
Madhapur Hyderabad-500081, Fax: 040-23420814, Email: mailmanager@karvy.com

TOLL FREE -HELPLINE NUMBER 1-800-3454001

 

Place : Hyderabad
Date : 29-12-2006

For Tanla Solutions Limited
Sd/
Ch Seshanuradha
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 TANLA SOLUTIONS LIMITED.

Tanla IPO Basis of Allotment FAQs

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

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

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

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

  3. 3. What is Tanla IPO allotment process?

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