Reliance Power IPO Basis of Allotment

RELlANCE Power
Anil Dhirubhai Ambani Group
Reliance Power Limited

Reliance Power Limited, (Our Company was originally incorporated as Bawana Power Private Limited on January 17, 1995 and subsequently changed as Reliance Delhi Power Private Limited on February 1, 1995 and then changed as Reliance EGen Private Limited on January 23, 2004 and then changed as Reliance Energy Generation Private Limited on March 5, 2004 and then changed as Reliance Energy Generation Limited on March 19, 2004 and then changed as Reliance Power Limited on July 4, 2007.)
Registered Office: H Block, First Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710. www.reliancepower.co.in

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 260,000,000 EQUITY SHARES OF Rs. 10 EACH OF RELIANCE POWER LIMITED ('RELIANCE .POWER' OR THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF Rs. 450* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 440* PER EQUITY SHARE) AGGREGATING TO Rs. 115,632 MILLION (NET OF RETAIL DISCOUNT) (THE 'ISSUE'). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 228,000,000 EQUITY SHARES AGGREGATING TO Rs. 101,232 MILLION (NET OF RETAIL DISCOUNT) ('THE NET ISSUE') AND A PROMOTERS' CONTRIBUTION OF 32,000,000 EQUITY SHARES AGGREGATING Rs. 14,400 MILLION. THE ISSUE CONSTITUTES 11.5% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY AND THE NET ISSUE CONSTITUTES 10.1 % OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

The Issue made through the 100% Book Building  Process wherein at least 60% of the Net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBS') (including 5% of the QIB portion that was to be allocated specifically to mutual funds). Further, at least 10% of the Issue was to be allocated on a proportionate basis to Non-Institutional Bidders and at least 30% of the Net Issue was to be allocated on a proportionate basis to Retail Bidders, subject to valid bids, being received at or above the Issue Price.

The Issue received 48,02,930 applications for 1599,71,29,272 equity shares resulting in 61.52 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)

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 February 1st, 2008.

A. 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 the Issue Price of Rs.450 per Equity Share, was finalized in consultation with BSE. The category was over subscribed 13.572340 times. The total number of shares allotted in this category is 6,84,00,000 Equity Shares to 41,73,929 successful applicants. The category-wise details of the Basis of Allocation are as under:

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.450 per Equity Share, was finalized in consultation with BSE. The category was subscribed 159.556149 times. The total number of shares allotted in this category is 2,28,00,000 Equity Shares to 11,862 successful applicants. The category-wise details of the Basis of Allocation (Sample) are as under:

C. 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 (68,40,000) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (12,99,60,000) on proportionate basis.

The Committee of the Board of Directors of the company at its Meeting held at Murnbai on 1 st February, 2008 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 fully paid-up 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 allocation.

This details of the allocation made would be hosted on the website of Registrar to the Issue, Karvy Computershare Private Limited at http://kcpl.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar 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:

Karvy Computershare Private Limited
(Unit: Reliance Power - IPO)
Plot No. 17 to 24, Vittal Rao Nagar. Madhapur.
Hyderabad - 500081, Tet.: +91 40 234 20815 / 2342 0816
Fax: 040-2342 0859. Email: einward.ris@Karvy.com

TOLL FREE - HELPLINE NUMBER: 1 -800-3454001

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 RELIANCE POWER LIMITED.