Tarapur Transformers IPO Basis of Allotment

TARAPUR TRANSFORMERS LIMITED

(Originally incorporated as 'Tarapur Transformers Private Limrted' on 9th May, 1988 under the Companies Act, 1956
Our Company was subsequently converted to a Public Limrted Company and consequently the name was changed to 'Tarapur Transformers Limited' vide fresh certificate of incorporation dated 27th March, 2007).
Registered Office: J-20, MIDC,Tarapur Industrial Area, Boisar, Thane-401506, Maharashtra, India.
Tel.: +91 2525 - 272996; Fax: +91 2525 - 271181;
Corporate Office: 201, Vikas Chamber, Junction of Link & Marve Road, Malad (West), Mumbai-400 064, Maharashtra, India. Tel.: +9122-40897777; Fax: +9122-28811225 Website: www.tarapurtransformers.com; Emall:complianceofficer@tarapurtransformers.com

(For details of changes in our registered office, see the section titled 'Our History and Corporate Structure' on Page 91 of the Prospectus)
Works-Boisar: J-20, MIDC, Tarapur Industrial Area, Boisar, Dist- Thane, Pin- 401506,
Tel.:+91 2525-272996; Fax: +91 2525-271181
Works-Pali: 141, Manor Road, Village Pali, PO-Posheri,Taluka-Wada, Dist-Thane,Tel.&Fax: +91 2526-271154;
Works-Vadodara: L/25/5, GIDC Industrial Estate, Por- Ramnagamdi, Vadodara,
Tel.: +91 265-2830290; Fax: +91 265-2339629
Contact Person & Compliance Officer: Ms. Astha Rathi, Compliance Officer/Company Secretary;
Email: complianceofficer@tarapurtransformers.com
Our Promoter is BILPOWER LIMITED presently located at Vikas Chambers, 2nd Floor, Junction of Link & Marve Road, Malad (West), Mumbai- 400 064. Email: investors@bilpower.com

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 85,00,000 EQUITY SHARES OF Rs. 10 EACH AT A PRICE OF RS. 75 PER EQUITY SHARE FOR CASH (INCLUDING SHARE PREMIUM OF RS. 65 PER SHARE) AGGREGATING RS. 6375 LACS (HEREIN REFERRED TO AS THE ISSUE). THE ISSUE SHALL CONSTITUTE 43.59 % OF THE FULLY DILUTED POST ISSUE CAPITAL OF OUR COMPANY.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited ('BSE') and National Stock Exchange of India Limited ('NSE').

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS.75/- AND IS 7.5 TIMES THE FACE VALUE.

This Issue is being made through a 100% Book Building Process wherein up to 50% of the Issue shall be allocated on a proportionate basis to eligible Qualified Institutional Buyers ('QIBs'), out of which 5% of the Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all eligible Qualified Institutional Buyers, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be made 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 7703 applications for 14000860 Equity Shares resulting in 1.65 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Investors and Retail Individual Investors are as under: (Before technical rejections)

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

The Basis of Allotment was finalized In consultation with Designated Stock Exchange, Being the Bombay Stock Exchange Limited ('BSE') on 10th May 2010

A. Allotment to Retail Individual Investors (After Technical Rejections) Including ASBA applications
The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs 75/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 2.56 times. The spill over portion from QIB Category was 2881697 Equity Shares. The total number of shares allotted in this category is 5856707 Equity Shares to 7359 successful applicants. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections) Including ASBA applications.
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price of 75/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 4.77 times. The spill over portion from QIB Category was 1235013 equity shares. The total number of shares allotted in this category is 2510014 Equity Shares to 33 successful applicants. The category-wise details of the Basis of Allotment are as under:

C. Allotment to QIBs
The Basis of Allotment to the QIBs, who have bid at the Issue Price of Rs. 75/- per Equity Share, was finalized in consultation with BSE. As per SEBI (ICDR) Regulations, 2009 Mutual Funds were to be allocated 5% of the quantum of shares available i.e. 212500 Equity Shares, there were no applications from Mutual Funds. The category was subscribed 0.03 times. One (1) application for 133290 Equity Share was received. Un-subscribed portion of QIB Category i.e. 4116710 Equity Shares has been added to the Non Institutional Investors category & the Retail Individual Investors category in the ratio of 15:35. The category wise details of the Basis of allotment are as under:

The Board of Directors of the company at its Meeting held on 11th May 2010 has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have 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 the Registrar 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 allotted 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 the National Stock Exchange of India Limited within seven working days from the date of approval of the Basis of Allotment.

Note: Terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus.

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 PRIVATE LIMITED
E-2/3, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri (E), Mumbai 400 072
Tel: +91 - 22 2847 0652 Fax: +91 -22 2847 5207
Contact Person: Mr. Ashok Shetty, Email: ashok@bigshareonline.com