1 TATA STEEL LIMITED (Originally incorporated on August 26,1907 under the Indian Companies Act, 1882 as' The Tata Iran and Steel Company Limited',; the name of the Company was changed into 'Tata Steel Limited' with effect from August ) for the detail on change in the name of company,see the section-'history and certain Corporate Matters' beginning on page 96 of the prospectus.. Registered office:bombay House,24,Homi Modi Street,Fort, Mumbai Tel:(9122) ,FAX: (9122) Promoter: Tata Sons Limited BASIS OF ALLOTMENT FURTHER PUBLIC ISSUE OF 57,000,000 EQUITY SHARES OF FACE VALUE RS.10EACH ("EQUITY SHARES") FOR CASH ATA PRICE OF RS.610 PER EQUITY SHARE OF TATA STEEL LIMITED ("TATA STEELOR "THE COMPANY ) AGGREGATING TO RS. 34,770 MILLION (THE"ISSUE").THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 55,500,000 EQUITY SHARES ("THE NET ISSUE") AND A RESERVATION OF 1,500,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE"EMPLOYEE RESERVATION PORTION").THE ISSUE WOULD CONSTITUTE5.94% OF THE POST-ISSUE PAID- UP EQUITY SHARE CAPITAL OF THE COMPANY AND THE NET ISSUE TO THE PUBLIC WOULD CONSTITUTE5.79% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY. PRICE BAND WAS Rs. 594 (FLOOR PRICE) TO Rs. 610 (CAP PRICE) PER EQUITY SHARE AND WAS ADVERTISED IN FINANCIAL EXPRESS (ALL EDITIONS), JANASATTA (ALL EDITIONS) AND NAVSHAKTI (ALL EDITIONS) ONE WORKING DAY PRIOR TO THE BID OPENING DATE. THE FACE VALUE OFTHE EQUITY SHARES IS Rs. 10 EACH.THE ISSUE PRICE IS Rs. 610 AND IS 61 TIMES THE FACE VALUE OFTHE EQUITY SHARES. ISSUE OPENED AND CLOSED ON JANUARY 18,2011 FOR ANCHOR INVESTORS. ISSUE OPENED ON JANUARY 19,2011 AND CLOSED ON JANUARY 21,2011 (FOR ALL OTHER INVESTORS). THE COMPANY IS TAKING STEPS TO GET THE EQUITY SHARES ADMITTED FOR TRADING ON THE BOMBAY STOCK EXCHANGE LIMITED ("BSE") AND NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") ON FEBRUARY 02,2011. This Issue has been made through the Book Building Process where not more than 50% of the Net Issue will be on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion") provided that the Company may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion^, out of which at least one-third will be available for Allotment to domestic Mutual Funds only. For details, see the section "Issue Procedure" beginning on page 249 of the Prospectus. Further, 5% of the QIB Portion, excluding the Anchor Investor Portion, will be available for Allotment on a proportionate basis to Mutual Funds only. The remainder will be available for Allotment on a
2 proportionate basis to QIBsincluding Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. In addition, not less than 15% of the Net Issue will be available for Allotment on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue will be available for Allotment on a proportionate basis to Retail Bidders, subject to valid Bids being received at or above the Issue Price. Any Bidder (other than Anchor Investors) may participate in this Issue through the ASBA process by providing the details of their ASBA Accounts in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks ("SCSBs"). For more information, specific attention is invited to the section "Issue Procedure" beginning on page 249 of the Prospectus. The Company has 8,325,000 of the QIB Portion to 33 Anchor Investors in consultation with the BRLMs on a discretionary basis. The issue received 187,035 applications for 292,957,150 (including applications received through ASBA) resulting in 6.02 times subscription excluding Anchor Investor Portion. The details of the applications received in the Issue from Retail Individual Bidders, Non-Institutional Bidders, Qualified Institutional Buyers (excluding Anchor Investors), Eligbile Employees and Anchor Investor categories are as under: (After technical rejections) times Applications subscription A Retail Individual Bidders 185,711 30,289, B Non Institutional Bidders ,819, Qualified Institutional Buyers C (excluding Anchor Investors) ,756, D Eligible Employees , E Anchor Investors 33 9,659, Total 187, ,616, Final Demand The final demand at different bid prices is as under: Bid Price Total shares Cumulative Total Cumulative 594 1,219, ,219, , ,239, , ,241,670 0, , ,250, , ,252, ,253,
3 600 1,114, ,367, , ,378, , ,556, , ,559, , ,561, , ,712, , ,128, ,129, , , ,500, , ,502, ,192, ,694, CUTOFF 26,521, ,215, TOTAL 297,215, The Basis of Allotment was finalized in consultation with the BSE on January 29,2011. A. Allotment to Eligible Employees (After Technical Rejections) The Basis of Allotment to the Eligible Employees, who have bid at cut-off or at the Issue Price of Rs. 610 per Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.06 times resulting in a spill over to QIBs (Mutual Funds - 35,205 and Other QIBs 668,900 ), Retail Individual Bidders (492,874 ), and Non Institutional Bidders (211,231- ) in the ratio of 50:35:15 respectively. The number of allotted in this category is 91,790 to 680 successful applicants. All bidders in this category received firm and full allotment. B Allotment to Retail Individual Investors (After Technical Rejection's) The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 610 per Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.52 times. The number of allotted In Retail Individual Investor category is 19,917,874 to 181,496 successful applicants. The categorv-wise details of the Basis of Allotment are as under: Applications No.of Ratio 10 12, , :38 81, , , :1 167, , , :1 170,960
4 40 5, , :1 146, , , :1 418, , , :1 103, , ' 133, :1 87, , , :1 275, , , :1 78, , ,412, :1 932, , :1 70, , , :1 94, , :1 56, , :1 61, , , :1 364, , ,755, :1 3,777,165 Applications Ratio 170 1, , :1 201, , :1 79, , :1 29, , , :1 498, , :1 36, , :1 33, , :1 30, , :1 62, , , :1 165, , :1 37, , :1 33, , :1 34, , :1 28, , , :1 294, , :1 64, , ,333, :1 11,375, Additional 1 31:68 24,678 C Alloiment to Non Institutional investors (AfterTechnical Rejections)
5 The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 610 per Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 7.01 times. The number of allotted in this category is 8,536,231 to 475 successful applicants. The categorv-wise details of the Basis of Allotment are (Sample) under: Applications %to Ratio , : , :1 1, , :1 4, , :1 5,130 8, , ,170 1:1 9,360 10, , :1 21,405 16, , :1 11,700 20, , ,854 1:1 17,124 50, , :1 49, , , ,394 1:1 116,970 1,400, ,800, ,779 1:1 399,558 8,196, ,393, ,169,666 1:1 2,339,332 D. Allotment to QIBs (excluding Anchor Investors) Allotment to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, Mutual Funds were initially 1,006,455 being 5% of the quantum of available. This category has been over subscribed to the extent of times. The number of allotted in this category is 20,129,105 to 169 successful applicants. The category-wise details of the Basis nf Allotmentl are as under Fls/Banks Flls MFs ICs VCs Total 2,935,496 5,322,860 4,920,842 6,949,907-20,129,105 E. Allotment to Anchor Investors Allotment to Anchor Investors has been done by the Company on a discretionary basis in consultation with BRLMs. As per the SEBI regulations, upto 30% of QIB Portion (8,325,000 ) was allotted to Anchor Investors of which one third was to domestic Mutual Funds.
6 Fls/Banks Flls MFs ICs VCs Total - I 4,777,400 2,775, , ,325,000 The "Committee of Directors" of the Company at its meeting held on January 29,2011 has taken on record the basis of allotment of approved by the Designated Stock Exchange viz., BSE and has authorized the allotment of the to successful applicants.. The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched on January 31,2011 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 Account details as registered, if any, with the depositories. The allotted to successful applicants shall be credited to their beneficiary accounts on February 01,2011 subject to validation of the account details with the depositories concerned. INVESTORS PLEASE NOTE The details of the Allotment made would be hosted on the website of Registrars to the Issue, Link Intime India Private Limited at their website: INVESTORS CAN GET STATUS OF THE APPLICATION ON SMS (Rs. 31- per SMS) SMS LIIPL (space) TSL (space) PAN TO For example:-liipl TSL AABPH0999K To 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 bid for, name of the member of the Syndicate and Place where the bid was submitted and payment details at the address given below: LINK INTIME Link Intime India Private Limited C-13, Pannalal Silk Mills Compound, LBS marg Bhandup (West), Mumbai Tel.: , Fax: Place: Mumbai Date January 31,2011 ForTata Steel Limited sd/- A. Anjeneyan Company Secretary and Compliance Officer Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.
7 THE LEVELOF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING ORTHE BUSINESS PROSPECTS OF TATA STEEL LIMITED. The equity shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws In the United States and may not be offered or sold within the United States except pursuant to an exemption from or in a transaction not subject to, registration requirements of the US Securities Act and in accordance with any applicable US state securities laws. Accordingly, the equity shares are being offered and sold (i) In the United States only to "Qualified Institutional buyers" (as defined In Rule 144A under the U.S. Securities Act ("Rule 144A") and referred to in the Red Herring Prospectus as "U.S. QIBs"), in reliance on the exemption from registration under the U.S. Securities Act provided by Rule 144 A or other available exemption and (ii)outside the United States only in compliance with Regulation S under the US Securities Act and the applicable laws of each jurisdiction where such offers and sales occur.