|
CREDIT ANALYSIS AND RESEARCH LIMITED
(Our company was incorporated as Credit Analysis and Research
Limited on April 21, 1993 at Mumbai, Maharashtra as a public limited company under the
companies act, 1956, as a amended. For Details of change in the registered office of our
company. See "History and certain Corporate matters- Changes in Registered
Office" on page 118 of the prospectus dated December 13,2012(the
"Prospectus")).
Registered Office: 4th floor, Godrej Coliseum, Somaiya Hospital Road, Off
Eastern Express Highway sion(East) Mumbai 400 022; Contact Person: Navin
K. Jain, Company Secretary and Compliane Officer: Tel: (91 22) 6754 3456;
Fax: (91 22) 6754 3457; Email:investor.relations@careratings.com; Website:
http://www.careratings.com
Our Company is Professionally managed and does not have an identifiable promoter
in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009, as amended (the "SEBI Regulations")
BASIS OF ALLOTMENT
PUBLIC OFFER OF 7,199,700 EQUITY SHARES OF A FACE VALUE OF RS.10 EACH (THE "EQUITY
SHARES") OF CREDIT ANALYSIS AND RESEARCH LIMITED (THE "COMPANY") THROUGH AN
OFFER FOR SALE BY THE SELLING SHAREHOLDERS FOR CASH AT A PRICE OF RS. 750 PER EQUITY SHARE
(INCLUDING A SHARE PREMIUM OF RS. 740 PER EQUITY SHARE) AGGREGATING TO RS. 5,399.78
MILLION (THE "OFFER"). THE OFFER CONSTITUTES 25.22% OF THE POST-OFFER PAID-UP
EQUITY SHARE CAPITAL OF OUR COMPANY.
THE FACE VALUE OF EQUITY SHARES IS RS. 10 EACH. THE OFFER PRICE IS RS. 750 PER EQUITY
SHARE AND IS 75 TIMES THE FACE VALUE OF THE EQUITY SHARE.
BID/OFFER: OPENED ON DECEMBER 7,2012 and CLOSED ON DECEMBER
11,2012
(Except for Anchor Investors for whom the Bid/ Offer Period was one Working Day prior
to the Bid/ Offer Opening Date).
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as
amended, this was an Offer for more then 25% of the post-Offer paid-up Equity Share
Capital of our company.This offer was through the book Building Process wherein 50% of the
Offer was allocated on a proportionate basis to QIBs and our Company and the Selling
Shareholders have allocated 1,079,954 Equity Shares of the QIB Portion to Anchor Investors
on a discretionary basis. 5% of the QIB Portion (excluding Anchor Investor Portion) was
available for allocation on a proportionate basis to Mutual Funds only, and the remainder
of the QIB Portion was available for allocation on a proportionate basis to all QIB
Bidders, including Mutual Funds, subject to valid Bids being received at or above the
Offer Price. Further, not less than 15% of the Offer was available for allocation on a
proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer was
available for allocation to Retail Individual Bidders in accordance with the SEBI
Regulations, subject to valid Bids being received at or above the Offer Price. For
details, see the section "Offer Procedure" on page 257 of the Prospectus.
The Offer received 326,829 applications for 245,557,300 Equity Shares (including Anchor
Investors) resulting in 34.11 times subscription. The details of the applications received
in the Offer from Qualified Institutional Buyers, Non-Institutional Bidders, Retail
Individual Bidders and Anchor Investors are as under: (Before technical rejections)
| Sr. |
Category |
No. of applications |
No. of Equity Shares |
No. of times subscription |
| A |
Retail Individual Bidders |
326,157 |
15,401,140 |
6.11 |
| B |
Non Institutional Bidders |
476 |
119,049,900 |
110.24 |
| C |
Qualified Institutional Buyers |
173 |
109,146,320 |
43.31 |
| D |
Anchor Investors |
23 |
1,959,940 |
1.81 |
|
Total |
326,829 |
245,557,300 |
34.11 |
Final Demand
A summary of the final demand as per BSE Limited ("BSE") and The National Stock
Exchange of India Limited ("NSE") at different bid prices is as under:
Bid
Price |
No. Of
Equity Shares |
% to
Total |
Cumulative
Total |
Cumulative %
of Total |
| 700 |
1600660 |
0.62 |
1600660 |
0.62 |
| 701 |
980 |
0.00 |
1601640 |
0.62 |
| 702 |
120 |
0.00 |
1601760 |
0.62 |
| 703 |
100 |
0.00 |
1601860 |
0.62 |
| 705 |
4360 |
0.00 |
1606220 |
0.63 |
| 706 |
20 |
0.00 |
1606240 |
0.63 |
| 707 |
40 |
0.00 |
1606280 |
0.63 |
| 708 |
20 |
0.00 |
1606300 |
0.63 |
| 710 |
9240 |
0.00 |
1615540 |
0.63 |
| 711 |
320 |
0.00 |
1615860 |
0.63 |
| 712 |
1020 |
0.00 |
1616880 |
0.63 |
| 713 |
100 |
0.00 |
1616980 |
0.63 |
| 714 |
9860 |
0.00 |
1626840 |
0.63 |
Bid
Price |
No. Of
Equity Shares |
% to
Total |
Cumulative
Total |
Cumulative %
of Total |
| 715 |
940 |
0.00 |
1627780 |
0.63 |
| 716 |
40 |
0.00 |
1627820 |
0.63 |
| 718 |
20 |
0.00 |
1627840 |
0.63 |
| 719 |
40 |
0.00 |
1627880 |
0.63 |
| 720 |
5560 |
0.00 |
1633440 |
0.64 |
| 721 |
40 |
0.00 |
1633480 |
0.64 |
| 722 |
140 |
0.00 |
1633620 |
0.64 |
| 723 |
40 |
0.00 |
1633660 |
0.64 |
| 725 |
1494000 |
0.58 |
3127660 |
1.22 |
| 726 |
80 |
0.00 |
3127740 |
1.22 |
| 729 |
20 |
0.00 |
3127760 |
1.22 |
| 730 |
14180 |
0.01 |
3141940 |
1.22 |
| 731 |
20 |
0.00 |
3141960 |
1.22 |
Bid
Price |
No. Of
Equity Shares |
% to
Total |
Cumulative
Total |
Cumulative %
of Total |
| 732 |
160 |
0.00 |
3142120 |
1.22 |
| 733 |
100 |
0.00 |
3142220 |
1.22 |
| 734 |
20 |
0.00 |
3142240 |
1.22 |
| 735 |
1200 |
0.00 |
3143440 |
1.22 |
| 737 |
20 |
0.00 |
3143460 |
1.22 |
| 740 |
16520 |
0.01 |
3159980 |
1.23 |
| 741 |
20 |
0.00 |
3160000 |
1.23 |
| 744 |
20 |
0.00 |
3160020 |
1.23 |
| 745 |
12520 |
0.00 |
3172540 |
1.23 |
| 746 |
80 |
0.00 |
3172620 |
1.23 |
| 748 |
220 |
0.00 |
3172840 |
1.23 |
| 749 |
160 |
0.00 |
3173000 |
1.24 |
| 750 |
239673220 |
93.29 |
242846220 |
94.52 |
| 99999 |
14076620 |
5.48 |
256922840 |
100.00 |
The Basis of Allotment was finalized in consultation with BSE, being
the Designated Stock Exchange, on December 20, 2012 and was taken on record by the Board
of Directors in their meeting on December 21, 2012.
A. Allocation to Retail Individual Bidders (after technical rejections)
(Including ASBA applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at Cut-off Price or
at the Offer Price of Rs. 750 per Equity Share, was finalized in consultation with BSE.
This category has been subscribed to the extent of 5.98 times. The total number of Equity
Shares allocated in the Retail Individual Bidder category is 2,519,895 Equity Shares
allocated to 125,994 successful applicants. The category-wise details of the Basis of
Allotment are as under:
Category
(No. of Equity Shares applied for) |
No. Of applications received |
% to total |
Total No.
of Equity Shares applied |
% to total |
No. of Equity Shares
allocated per
applicant |
Ratio of allottees to
applicants |
Total No. of Equity Shares allocated |
| 20 |
245680 |
76.93 |
4913600 |
32.58 |
20 |
101:256 |
1938580 |
| 40 |
15853 |
4.96 |
634120 |
4.20 |
20 |
101:256 |
125100 |
| 60 |
9199 |
2.88 |
551940 |
3.66 |
20 |
101:256 |
72580 |
| 80 |
4505 |
1.41 |
360400 |
2.39 |
20 |
101:256 |
35540 |
| 100 |
5832 |
1.83 |
583200 |
3.87 |
20 |
101:256 |
46020 |
| 120 |
7892 |
2.47 |
947040 |
6.28 |
20 |
101:256 |
62280 |
| 140 |
3831 |
1.20 |
536340 |
3.56 |
20 |
101:256 |
30220 |
Category
(No. of Equity Shares applied for) |
No. Of applications received |
% to total |
Total No.
of Equity Shares applied |
% to total |
No. of Equity Shares
allocated per
applicant |
Ratio of allottees to
applicants |
Total No. of Equity Shares allocated |
| 160 |
1223 |
0.38 |
195680 |
1.30 |
20 |
101:256 |
9660 |
| 180 |
657 |
0.21 |
118260 |
0.78 |
20 |
101:256 |
5180 |
| 200 |
2324 |
0.73 |
464800 |
3.08 |
20 |
101:256 |
18340 |
| 220 |
480 |
0.15 |
105600 |
0.70 |
20 |
101:256 |
3780 |
| 240 |
843 |
0.26 |
202320 |
1.34 |
20 |
101:256 |
6660 |
| 260 |
21031 |
6.59 |
5468060 |
36.26 |
20 |
101:256 |
165940 |
Please note: 1 additional Equity Share has been allocated to 15
applicants from amongst 29065 successful applicants from the categories 40-260 (i.e.
except successful applicants for category 20) in the ratio of 15:29065.
B. Allocation to Non-Institutional Bidders (after technical rejections)
(Including ASB Aapplications)
The Basis of Alloment to the Non-Institutional Bidders, who have bid at the Offer Price of
Rs.750 per Equity Share was finalized in consultation with BSE. This category has been
subscribed to the extent of 110.12 times. The total number of Equity Shares allocated in
the Non Institutional Bidder category is 1,079,955 Equity Shares, allocated to 361
successful applicants. The category-wise details of the Basis of Allotment (on sample
basis) are as under:
Category
(No. of Equity Shares applied for) |
No. of applications received |
% to total |
Total No.
of Equity Shares applied |
% to total |
No. of Equity Shares
allocated per
applicant |
Ratio of allottees to
applicants |
Total No. of Equity Shares allocated |
| 280 |
17 |
3.79 |
4760 |
0.00 |
20 |
2:17 |
40 |
| 300 |
6 |
1.34 |
1800 |
0.00 |
20 |
1:6 |
20 |
| 320 |
1 |
0.22 |
320 |
0.00 |
20 |
1:1 |
20 |
| 340 |
1 |
0.22 |
340 |
0.00 |
20 |
1:1 |
20 |
| 360 |
1 |
0.22 |
360 |
0.00 |
20 |
1:1 |
20 |
| 400 |
16 |
3.56 |
6400 |
0.01 |
20 |
3:16 |
60 |
| 440 |
2 |
0.45 |
880 |
0.00 |
20 |
1:2 |
20 |
| 460 |
2 |
0.45 |
920 |
0.00 |
20 |
1:2 |
20 |
| 500 |
5 |
1.11 |
2500 |
0.00 |
20 |
1:5 |
20 |
| 520 |
2 |
0.45 |
1040 |
0.00 |
20 |
1:2 |
20 |
| 540 |
3 |
0.67 |
1620 |
0.00 |
20 |
1:3 |
20 |
| 580 |
1 |
0.22 |
580 |
0.00 |
20 |
1:1 |
20 |
| 600 |
4 |
0.89 |
2400 |
0.00 |
20 |
1:4 |
20 |
| 620 |
1 |
0.22 |
620 |
0.00 |
20 |
1:1 |
20 |
| 640 |
1 |
0.22 |
640 |
0.00 |
20 |
1:1 |
20 |
| 660 |
17 |
3.79 |
11220 |
0.01 |
20 |
5:17 |
100 |
| 720 |
1 |
0.22 |
720 |
0.00 |
20 |
1:1 |
20 |
| 740 |
1 |
0.22 |
740 |
0.00 |
20 |
1:1 |
20 |
| 800 |
6 |
1.34 |
4800 |
0.00 |
20 |
1:3 |
40 |
| 920 |
4 |
0.89 |
3680 |
0.00 |
20 |
1:4 |
20 |
| 1000 |
11 |
2.45 |
11000 |
0.01 |
20 |
5:11 |
100 |
| 1060 |
1 |
0.22 |
1060 |
0.00 |
20 |
1:1 |
20 |
| 1140 |
1 |
0.22 |
1140 |
0.00 |
20 |
1:1 |
20 |
| 1200 |
1 |
0.22 |
1200 |
0.00 |
20 |
1:1 |
20 |
| 1300 |
2 |
0.45 |
2600 |
0.00 |
20 |
1:2 |
20 |
| 1320 |
10 |
2.23 |
13200 |
0.01 |
20 |
3:5 |
120 |
| 1340 |
1 |
0.22 |
1340 |
0.00 |
20 |
1:1 |
20 |
| 1380 |
1 |
0.22 |
1380 |
0.00 |
20 |
1:1 |
20 |
| 1400 |
2 |
0.45 |
2800 |
0.00 |
20 |
1:2 |
20 |
| 1500 |
2 |
0.45 |
3000 |
0.00 |
20 |
1:2 |
20 |
| 1600 |
1 |
0.22 |
1600 |
0.00 |
20 |
1:1 |
20 |
| 1820 |
1 |
0.22 |
1820 |
0.00 |
20 |
1:1 |
20 |
| 1840 |
1 |
0.22 |
1840 |
0.00 |
20 |
1:1 |
20 |
| 1860 |
2 |
0.45 |
3720 |
0.00 |
20 |
1:2 |
20 |
| 2000 |
16 |
3.56 |
32000 |
0.03 |
20 |
1:2 |
160 |
| Category (No. of Equity Shares
applied for) |
No. of applications received |
% to total |
Total No.
of Equity Shares applied |
% to total |
No. of Equity Shares
allocated per
applicant |
Ratio of allottees to
applicants |
Total No. of Equity Shares
allocated |
| 2020 |
2 |
0.45 |
4040 |
0.00 |
20 |
1:2 |
20 |
| 2100 |
2 |
0.45 |
4200 |
0.00 |
20 |
1:2 |
20 |
| 2160 |
1 |
0.22 |
2160 |
0.00 |
20 |
1:1 |
20 |
| 2200 |
3 |
0.67 |
6600 |
0.01 |
20 |
1:1 |
60 |
| 2340 |
1 |
0.22 |
2340 |
0.00 |
21 |
1:1 |
21 |
| 2400 |
2 |
0.45 |
4800 |
0.00 |
22 |
1:1 |
44 |
| 2600 |
2 |
0.45 |
5200 |
0.00 |
24 |
1:1 |
48 |
| 2660 |
3 |
0.67 |
7980 |
0.01 |
24 |
1:1 |
72 |
| 4000 |
4 |
0.89 |
16000 |
0.01 |
36 |
1:1 |
144 |
| 4100 |
1 |
0.22 |
4100 |
0.00 |
37 |
1:1 |
37 |
| 14660 |
1 |
0.22 |
14660 |
0.01 |
133 |
1:1 |
133 |
| 15600 |
1 |
0.22 |
15600 |
0.01 |
142 |
1:1 |
142 |
| 16660 |
1 |
0.22 |
16660 |
0.01 |
151 |
1:1 |
151 |
| 20000 |
6 |
1.34 |
120000 |
0.10 |
182 |
1:1 |
1092 |
| 21200 |
1 |
0.22 |
21200 |
0.02 |
193 |
1:1 |
193 |
| 22000 |
1 |
0.22 |
22000 |
0.02 |
200 |
1:1 |
200 |
| 60000 |
3 |
0.67 |
180000 |
0.15 |
545 |
1:1 |
1635 |
| 63000 |
1 |
0.22 |
63000 |
0.05 |
572 |
1:1 |
572 |
| 66800 |
3 |
0.67 |
200400 |
0.17 |
607 |
1:1 |
1821 |
| 67000 |
1 |
0.22 |
67000 |
0.06 |
608 |
1:1 |
608 |
| 200000 |
2 |
0.45 |
400000 |
0.34 |
1816 |
1:1 |
3632 |
| 225720 |
1 |
0.22 |
225720 |
0.19 |
2050 |
1:1 |
2050 |
| 266400 |
1 |
0.22 |
266400 |
0.22 |
2419 |
1:1 |
2419 |
| 266660 |
3 |
0.67 |
799980 |
0.67 |
2422 |
1:1 |
7266 |
| 300000 |
3 |
0.67 |
900000 |
0.76 |
2724 |
1:1 |
8172 |
| 595920 |
1 |
0.22 |
595920 |
0.50 |
5411 |
1:1 |
5411 |
| 1442000 |
1 |
0.22 |
1442000 |
1.21 |
13095 |
1:1 |
13095 |
| 1993000 |
1 |
0.22 |
1993000 |
1.68 |
18098 |
1:1 |
18098 |
| 1993120 |
2 |
0.45 |
3986240 |
3.35 |
18099 |
1:1 |
36198 |
| 2000000 |
3 |
0.67 |
6000000 |
5.05 |
18162 |
1:1 |
54486 |
| 5866660 |
1 |
0.22 |
5866660 |
4.93 |
53274 |
1:1 |
53274 |
| 6000000 |
1 |
0.22 |
6000000 |
5.05 |
54481 |
1:1 |
54481 |
C. Allocation to QIBs (after technical rejections)
(Including ASBA applications) excluding allocation to Anchor Investors
The Basis of Allotment to QIBs who have bid at the Offer Price of Rs.750 per Equity Share
has been done on a proportionate basis in consultation with BSE. This category has been
subscribed to the extent of 43.31 times. As per the SEBI Regulations, Mutual Funds were
initially allocated 5% of the Equity Shares available i.e. 125,995 Equity Shares and other
QIBs and unsatisfied demands of Mutual Funds were allocated the remaining available Equity
Shares i.e. 2,393,901 Equity Shares. The total number of Equity Shares allocated in the
QIB category is 2,519,896 Equity Shares, which were allocated to 173 successful
applicants. The category-wise details of the Basis of Allotment are as under:
| Category |
Fls/Banks |
Flls |
MFs |
ICs |
VCs |
Total |
| No. of Equity Shares |
996,805 |
949,409 |
335,114 |
230,883 |
7,685 |
2,519,896 |
D. Allocation to Anchor lnvestors
The Company and the Selling Shareholders have Allotted 1,079,954 Equity Shares to 23
Anchor Investors (Of which 5 Mutual Funds have applied through various schemes) in
consultation with the BRLMs at Rs. 750 per Equity Share. This represents upto 30% of the
QIB Portion.
The Board of Directors of the Company at its meeting held at Mumbai on December 21,2012
has taken on record the Basis of Allotment of Equity Shares in the Offer, as approved by
BSE, and has Allotted the Equity Shares to various successful applicants.
The CAN-cum-Refund Orders and Allotment Advice and/ or notices have been dispatched to
the address of the investors as registered with the Depositories on December 24,2012.
Further the instructions to the SCSBs have been dispatched/ mailed on December21,2012. The
refund orders have been over-printed with the bank account details as registered, if any,
with the Depositories.
Commencement of Trading: The Equity Shares Allotted to successful
applicants have been credited on December 21,2012 to the beneficiary accounts of such
applicants, subject to validation of the account details with the Depositories concerned.
The Equity Shares are proposed to be listed on the BSE and NSE and the trading will
commence on December 26,2012.
Note: All capitalized terms used and not defined herein shall have the
respective meaning assigned to them in the Prospectus.
INVESTORS PLEASE NOTE
The Basis of Allotment made would be published on the website of the Registrar to the
Offer, Karvy Computershare Private Limited at http://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to
the Offer 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-Cum Application Form was submitted and payment details at the address
given below:
Karvy Computershare private Limited
Plot Nos. 17 - 24,Vittal Rao Nagar, Madhapur.Hyderabad 500 081
Tel: (91 40) 4465 5000; Fax: (91 40) 2343 1551;
Email: care.ipo@karvy.com; Website: http://karisma.karvy.com |
Date: December 25,2012
Place: Mumbai |
For CREDIT ANALYSIS AND RESEARCH LIMITED
on behalf of the Board of Directors
Sd/-
Managing Director & Chief Executive Officer |
|
Zerodha (Trading Account)
RHP
