DLF IPO Basis of Allotment

DLF LIMITED

(Originally incorporated as American Universal Electric (India) Limited on July 4,1963 under the Companies Act, 1956. On June 18,1980, the name was changed to DLF Universal Electric Limited. Subsequently, the name was changed to DLF Universal Limited on May 28,1981, and to DLF Limited on May27, 2006)
Registered Office: Shopping Mall, Third Floor, Arjun Marg, Phase-I, DLF City, Gurgaon, Haryana 122 002, India.
Tel: +91 124 433 4200, Fax: +91 124 235 5581.
Contact Person: Mr. R. Hari Haran, Tel: +91 11 4302 3058,
E-mail: ipo@dlfgroup.in, Website: www.dlf.in
Head Office: DLF Centre,Sansad Marg, New Delhi 110 001, lndia.
Tel: -+91 11  2371  9300, Fax: +91 11 2371 9344

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 17,50,00,000 EQUITY SHARES OF Rs. 2/- EACH FOR CASH AT A PRICE OF Rs. 525/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF Rs. 523/- PER EQUITY SHARE) AGGREGATING Rs. 9,187.50 CRORES REFERRED TO AS 'THE ISSUE'). THE ISSUE COMPRISED A RESERVATION OF 10,00,000 EQUITY SHARES FOR SUBSCRIPTION BY EMPLOYEES AND THE NET ISSUE TO THE PUBLIC OF 17,40,00,000 EQUITY SHARES OF Rs. 2/- EACH FOR Rs. 525/- PER EQUITY SHARE. THE ISSUE CONSTITUTES 10.26% OF THE FULLY DILUTED POST ISSUE CAPITAL OF DLF LIMITED. ('COMPANY' OR 'ISSUER').
The Issue was made through the 100% Book Building Process wherein at least 60% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (including 5% of the QIB portion that was specifically to be allotted to mutual funds), further,  not less than 10% of the net Issue was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue was made 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 5,60,328 applications for 57,82,28,439 Equity Shares resulting in 3.30 times subscription. The details of the applications received in the Issue from QIBs, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections)

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

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 27th June, 2007.

A. Allocation to Employees (After Technical Refections)
The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.79 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 799850 Equity Shares to 941 successful applicants. The unsubscribed portion of 200150 Equity Shares has been added to QIB category. The category-wise details of the Basis of Allocation (Sample) are as under:

B. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at and above the Issue Price-of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.85 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of Equity Shares allotted in this category is 4,47,19,450 Equity Shares to 525,512 successful applicants. The unsubscribed portion of 74,80,550 equity shares has been added to QIB category. The category-wise details of the Basis of Allocation are as under:

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at cut-off or at and above the Issue Price of Rs.525 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.84 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of Equity Shares allotted in this category is 1,46,11,290 Equity Shares to 2,172 successful applicants. The spill over portion of 2,788,710 Equity Shares has been added to QIB category. The category-wise details of the Basis of Allocation (Sample) are as under:

D. Allocation to QIBs
Allocation to QIBs 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 (57,43,471) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (10,91,25,939) on proportionate basis. Total number of Equity Shares allotted in this category is 114869410 Equity Shares to 202 allottees i.e. 100% of valid applicants.

The IPO Committee of the Company at its Meeting held at Hyderabad on 28th June, 2007 has approved the basis of allocation of Equity Shares and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders, allotment advice, intimation regarding refunds through electronic mode (ECS, RTGS, NEFT or Direct Credit) and notices (where applicable) have been dispatched to the address of the investors as registered with the depositories on June 29,2007. 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 have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on June 29,2007. The Company is taking steps to get the equity shares admitted for trading on the BSE and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation. The listing applications have been filed with BSE & NSE on June 28,2007.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of Registrars to the Issue, Karvy Computershare Private Limited at www.karvy.com or http://kcpl.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-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 atthe address given below:

KARVY COMPUTERSHARE PRIVATE LIMITED
Plot No. 17 to 24, Vitharao Nagar, Hitech City Road, Madhapur
Hyderabad - 500081, Fax: 040-23420814
Email: dlfipo@karvy.com or einward.ris@karvy.com

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 DLF LIMITED.