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XL Telecom IPO Details

Issue Open Dec 4, 2006
Issue Close Dec 7, 2006
IPO Price ₹150
Face Value ₹10
IPO Size ₹59.35 Cr
Listing At BSE, NSE
IPO Lot Size 45

XL TELECOM LIMITED
[Registration Number 01-5844]

[The Company was originally incorporated as a Private Limited company under the provisions of the Companies Act, 1956 on October 3,1985 under the name and style of 'XL Cable Splices Private Limited' with The Registrar of Companies, Andhra Pradesh at Hyderabad and subsequently the name of the company was changed to 'XL Telecom Private Limited' on December 18, 1985. Later, by virtue of Special Resolution passed on October 29,1990, the Company was converted into a Public Limited Company. Consequent on its conversion, The Registrar of Companies, Andhra Pradesh, Hyderabad has issued a fresh certificate of incorporation dated December 31,1990.]

Registered Office- 335, Chandralok Complex, Sarojini Devi Road, Secunderabad - 500 003

(On incorporation the Registered Office was located at A1/3, Chandralok Complex, Sarojini Devi Road, Secunderabad-500 003, Andhra Pradesh and was shifted to 335, Chandralok Complex, Sarojini Devi Road, Secunderabad - 500 003 w.e.f. May 18, 1987)
Tel.: +91 40 2784 9094, 2784 0109, 2784 7287 Fax: +91 40 2784 0081. Website. www.xltelecom.net
Contact Person: Ch. Bhavani, Company Secretary & Compliance Officer, Email : chbhavani@xltelecom.net,

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 39,56,808 EQUITY SHARES OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 150/- PER EQUITY SHARE AGGREGATING TO RS. 5,935.21 LAKHS (HEREINAFTER REFERRED TO AS 'THE ISSUE') BY XL TELECOM LIMITED ('THE COMPANY' OR 'THE ISSUER'). THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH. THE ISSUE INCLUDES A RESERVATION OF 1,76,808 EQUITY SHARES OF RS. 10/- EACH AGGREGATING TO RS. 265.21 LAKHS FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES OFTHE COMPANY.THE NET ISSUE TO THE PUBLIC SHALL BE OF 37,80,000 EQUITY SHARES OF RS. 10/ EACH AGGREGATING TO RS.5,670.00 LAKHS. THE NET ISSUE WOULD CONSTITUTE 26.07% OF THE POST ISSUE PAID UP CAPITAL OF THE COMPANY.

The Issue was made through the 100% book building process wherein upto 50% of the Issue to the public was to be allocated on a proportionate basis to Qualified Institutional Buyers (out of which 5% of the QIB portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining QIB portion shall be available for allocation on a proportionate basis to all Qualified Institutional buyer, including Mutual Funds, subject to valid bids being received at or above Issue price. Further, atleast 15% of the Net Issue to the public shall be available for allocation on a proportionate basis to Non- Institutional Bidders and atleast 35% of the Net Issue to the public shall 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 31792 applications for 31797855 equity shares (including reserved category for Employees & Shareholders of Group Company) resulting in 8.036 times subscription. The details of the valid applications received in the Issue from Retail, Non Institutional Investor, Qualified Institutional Investor and Employee categories are as under:

Qualified Institutional Investorr and Employee categories are as under

Category (times) No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 24 18602190 9.84
Non Institutional investor 67 4298625 7.58
Retail Investors 31681 8719560 6.59
Employees 20 177480 1.004

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
125 26370 0.07684 34320150 100.00000
126 9990 0.02911 34293780 99.92316
127 1260 0.00367 34283790 99.89406
128 45 0.00013 34282530 99.89039
130 90315 0.26315 34282485 99.89025
131 5310 0.01547 34192170 99.62710
132 45 0.00013 34186860 99.61163
133 90 0.00026 34186815 99.61150
135 2070 0.00026 34186725 99.61123
137 270 0.00603 34184655 99.60520
138 585 0.00079 34184385 99.60442
139 0 0.00170 34183800 99.60271
140 88470 0.00000 34183800 99.60271
142 45 0.25778 34095330 99.34493
143 0 0.00013 34095285 99.34480
145 11250 0.00000 34095285 99.34480
146 45 0.03278 34095285 99.31202
147 0 0.00000 34083990 99.31189
148 630 0.00184 34083890 99.31189
149 0 0.00000 34083360 99.31006
150 25776000 75.10457 34083360 99.31006
CUT OFF 8307360 24.20549 8307360 24.20549
TOTAL 34320150 100.0000

The Basis of Allotment was finalized in consultation with The Bombay Stock Exchange Limited on December 20 2006

A. Allocation to Retail Investors

The Basis of Allocation to the Retail Investors, who have bid at cut-off or at and above the Issue Price of Rs.150/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 6.59 times.The total number of shares allotted in this category is 1324416 Equity Shares. The category-wise details of the Basis of Allocation are as under:

Category No. of Applications % to total Total No. of Shares Applied % to Total Proportional Allocation Ratio Total No. of Shares Allotted
45 6578 .20.76 296010 3.39 44913 12:79 45000
90 4929 15.56 443610 5.09 67308 7:23 67500
135 2356 7.44 318060 3.65 48259 5:11 48240
180 2268 7.16 408240 4.68 61941 17:28 61965
225 942 2.97 211950 2.43 32159 72:95 32130
270 778 2.46 210060 2.41 31872 62:67 32400
315 5429 17.13 1710135 19.61 259475 91:92 257760
360 372 1.17 133920 1.54 20319 92:93 20240
405 78 0.25 31590 0.36 4793 77:78 4697
450 202 0.64 90900 1.04 13792 66:67 13532
495 68 0.21 33660 0.39 5107 67:68 5025
540 81 0.26 43740 0.50 6637 80:81 6560
585 49 0.15 28665 0.33 4349 47:49 4183
630 7554 23.84 4759020 54.58 722076 1:1 725184

B. Allocation to Non Institutional Investors
The Basis of Allocation to the Non-Institutional investors, who have bid at cut-off or at and above the Issue Price of Rs.150/- per Equity Share, was finalized in consultation with BSE. The category was subscribed 7.5 times. The total number of shares allotted in this category is 567000 Equity Shares.The category-wise details of the Basis of Allocation area as under (Sample):

Category No. of Applications % to Total Total No. of Shares % to Total Proportional Allocation Ratio Total No. of Shares Allotted
675 4 5.97 2700 0.06 356 FIRM 356
1035 1 1.49 1035 0.02 137 FIRM 137
1710 1 1.49 1710 0.04 226 FIRM 226
3960 1 1.49 3960 0.09 522 FIRM 522
4050 3 4.48 12150 0.28 1603 FIRM 1602
6660 6 8.96 39960 0.93 5271 FIRM 5268
7020 1 1.49 7020 0.16 926 FIRM 926
9000 1 1.49 9000 0.21 1187 FIRM 1187
13320 2 2.99 26640 0.62 3514 FIRM 3514
15030 1 1.49 15030 0.35 1982 FIRM 1982
22005 1 1.49 22005 0.51 2903 FIRM 2903
31500 1 1.49 31500 0.73 4155 FIRM 4155
63000 1 1.49 63000 1.47 8310 FIRM 8310
93150 1 1.49 93150 2.17 12287 FIRM 12287
126000 1 1.49 126000 2.93 16620 FIRM 16620
140040 1 1.49 140040 3.26 18472 FIRM 18472
300060 1 1.49 300060 6.98 39579 FIRM 39579
666630 2 2.99 1333260 31.02 175861 FIRM 175860
999990 1 1.49 999990 23.26 131900 FIRM 131900

C.Allocation to QIBs

Category FIs/Banks MFs FIIs Insurance Companies VCs Total
No. of Shares 670358 115018 1104624 - - 1890000

The Committee of Directors(IPO) of the Company at its Meeting held at Secunderabad on December 21, 2006 has approved the basis of allocation.

The Refund of Orders due to 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. 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 has been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. XLTelecom Limited 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

This details of the allocation made are being hosted on the Website of Registrars to the Issue, Bigshare Services Private Limited at www.bigshareonline.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:

Bigshare Services Pvt. Ltd.
E/2, Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E), Mumbai 400 072.
Tel: +91-22-2847 3747, Fax: +91-22-2847 5207
E-mail: bighshare@bom7.vsnl.net.in   Website: www.bigshareonline.com

Place: Secunderabad
Date : December 22, 2006

For XL Telecom Limited
Sd/-
Ch. Bhavani
Company Secretary

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING ORTHE BUSINESS PROSPECTS OF XL TELECOM LIMITED.

XL Telecom IPO Basis of Allotment FAQs

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

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

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