Real Estate Developer Housing Development and Infrastructure (HDIL) had come out with a public issue of 29.70 million shares and subscribed 6.6 times. The company has raised around Rs 14.85 billion. The issue also has a greenshoe option of 4.45 million shares.

The face value per equity share is Rs 10. The issue price per equity share is Rs 500 and it is 50 times of the face value.

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 specifically be allotted to mutual funds), further, 10% of the net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the net Issue shall be 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 1,48,844 applications for 19,06,23,174 equity shares resulting in 5.58 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers', 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 16th July, 2007.

A. Allocation to Employees (After Technical Reactions)

The Basis of Allocation to the Employees, who have bid at cut-off or at and above the Issue Price of Rs.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 0.049 times. Hence FULL and FIRM allotments have been made against all valid applications. The total number of shares allotted in this category is 29,568 Equity Shares to 136 successful applicants. The unsubscribed portion of 5,70,432 equity shares has been added to Retail and Non-Institutional categories in the ratio of 50:50.

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.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 1.244 times. The total number of shares allotted In this category is 1,03,51,716 Equity Shares (including 285,216 equity shares spilled over from employees category) to 1,37,687 successful applicants. The category-wise details of the Basis of Allocation (Sample) 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.500 per Equity Share, was finalized in consultation with BSE. The category was subscribed to the extent of 1.33 times. The total number of shares allotted in this-category is 36,40,716 Equity Shares (including 2,85,216 equity shares spilled over from employee category) to 495 successful applicants. 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 (10,06,650) and other QIBs and unsatisfied demands of Mutual Funds were allotted the remaining available shares (1,91,26,350) on proportionate basis.