Listing of Securities

26

Listing of Securities

NSE plays an important role in helping Indian companies access equity capital, by providing a liquid and well-regulated market. As of March 2010, there were 1,470 companies listed on NSE. The companies listed on the Exchange are from various sectors of the economy such as - heavy industry, software, refinery, public sector units, infrastructure, and financial services. Wide range of securities such as stocks, bonds and other securities can be listed in the Capital Market (Equities) segment and its Wholesale Debt Market segment. Listing means formal admission of a security to the trading platform of the Exchange. It provides liquidity to investors without compromising the need of the issuer for capital and ensures effective monitoring of conduct of the issuer and trading of the securities in the interest of investors. The issuer wishing to have trading privileges for its securities satisfies listing requirements prescribed in the relevant statutes and in the listing regulations of the Exchange. It also agrees to pay the listing fees and comply with listing requirements on a continuous basis. All the issuers who list their securities have to satisfy the corporate governance requirement framed by regulators.

Listing Criteria
The Exchange has laid down criteria for listing of new issues by companies through IPOs, companies listed on other exchanges etc. in conformity with the Securities Contracts (Regulation) Rules, 1957, SEBI Guidelines and other relevant guidelines/acts. The criteria include minimum paid-up capital and market capitalisation, company/promoters track record, etc. The listing criteria for companies in the CM Segment are presented in Table 3-1. The issuers of securities are required to adhere to provisions of the Securities Contracts (Regulation) Act, 1956, the Companies Act, 1956, the Securities and Exchange Board of India Act, 1992 and the rules, circulars, notifications, guidelines, etc. prescribed there under.

Listing Agreement
All companies seeking listing of their securities on the Exchange are required to enter into a formal listing agreement with the Exchange. The agreement specifies all the quantitative and qualitative requirements to be continuously complied with by the issuer for continued listing. The Exchange monitors such compliance and companies who do not comply with the provisions of the listing agreement may be suspended from trading on the Exchange. The agreement is being increasingly used as a means to improve corporate governance.

Compliance by Listed Companies

NSE has institutionalised a process of verifying compliance of various conditions of the listing agreement. It conducts a periodic review for compliance on account of announcement of book closure/record date, announcement of quarterly results, submission of shareholding pattern, annual reports, appointment of compliance officer, corporate governance report, investor grievances and various disclosures etc.

27

Disclosures by Listed Companies

It is essential that all critical price sensitive/material information relating to securities is made available to the market participants and the investors immediately to enable them to take informed decisions in respect of their investments in securities. The Exchange therefore ensures certain important timely disclosures by listed companies and disseminates them to market through the NEAT terminals and through its website. These disclosures include corporate actions, quarterly/ half yearly results, decisions at board meeting, non-promoters holding, announcements / press releases etc.

De-listing
There are two kinds of delisting which can be done from the Exchanges as per the SEBI (Delisting of Securities) Guidelines, 2003 in the following manner: Voluntary De-listing of Companies Any promoter or acquirer desirous of delisting securities of the company under the provisions of these guidelines shall obtain the prior approval of shareholders of the company by a special resolution passed through postal ballot, make a public announcement in the manner provided in these guidelines, make an application to the delisting exchange for seeking in-principle approval in the form specified by the exchange, and comply with such other additional conditions as may be specified by the concerned stock exchanges from where securities are to be de-listed. Any promoter of a company which desires to de-list from the stock exchange shall also determine an exit price for delisting of securities in accordance with the book building process as stated in the guidelines. The stock exchanges shall provide the infrastructure facility for display of the price at the terminal of the trading members to enable the investors to access the price on the screen to bring transparency to the delisting process.

Compulsory De-listing of Companies

The stock exchanges may de-list companies which have been suspended for a minimum period of six months for non-compliance with the listing agreement. The stock exchanges have to give adequate and wide public notice through newspapers and also give a show cause notice to a company. The exchange shall provide a time period of 15 days within which representation may be made to the exchange by any person who may be aggrieved by the proposed delisting. The Stock Exchanges may, after consideration of the representation received from the aggrieved persons, delist the securities of such companies. The stock exchange shall ensure that adequate and wide public notice is given through newspaper and on the notice boards/trading systems of the stock exchanges and shall ensure disclosure in all such notices of the fair value of such securities. The stock exchange shall display the name of such company on its website. Where the securities of the company are de-listed by an exchange, the promoter of the company shall be liable to compensate the security holders of the company by paying them the fair value of the securities held by them and acquiring their securities, subject to their option to remain security-holders with the company.

28

The companies delisted during 2009-10 are mentioned in the table below.
Name of the Company The Madras Aluminium Company Limited* Lotte India Corporation Limited* Matrix Laboratories Limited* Pearl Global Limited* SI Group - India Limited* PHIL Corporation Limited^ Date of Delisting 19-Jun-09 31-Jul-09 21-Aug-09 21-Aug-09 23-Sep-09 9-Feb-10

* Delisting of equity shares of the company on account of Voluntary delisting pursuant to SEBI Delisting Guidelines-2003. ^ Delisting of equity shares of the company on account of Voluntary delisting pursuant to Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009.

CM Segment
Two categories, namely listed and permitted to trade categories of securities (equity shares, preference shares and debentures) are available for trading in the CM segment. At the end of March 2010, 1,470 companies were listed, 37 companies were permitted for trading and 1,359 were available for trading. These securities had a market capitalisation of ` 6,009,173 crore (US $ 1,331,230 million). The growth of companies listed on the CM segment is presented in Table 3-1.

Chart 3-1 : Companies Listed at end of March

29

Listing Fees
The listing fees charged by the Exchange are presented in the following table:

Listing Fees in the CM Segment

Sr. No. 1 2 Initial Listing Fees Annual Listing Fees (based on paid up share, bond and/ or debenture and/or debt capital, etc.) a) b) c) d) e) f) g) h) i) j) k) l) n) o) p) Upto ` 1 Crore Above ` 1 Crore and upto ` 5 Crores Above ` 5 Crore and upto ` 10 Crores Above ` 10 Crore and upto ` 20 Crores Above ` 20 Crore and upto ` 30 Crores Above ` 30 Crore and upto ` 40 Crores Above ` 40 Crore and upto ` 50 Crores Above ` 50 Crores and upto ` 100 Crores Above ` 100 Crore and upto ` 150 Crores Above ` 150 Crore and upto ` 200 Crores Above ` 200 Crore and upto ` 250 Crores Above ` 250 Crore and upto ` 300 Crores Above ` 350 Crore and upto ` 400 Crores Above ` 400 Crore and upto ` 450 Crores Above ` 450 Crore and upto ` 500 Crores 10,000 15,000 25,000 45,000 70,000 75,000 80,000 1,30,000 1,50,000 1,80,000 2,05,000 2,30,000 2,55,000 2,80,000 3,25,000 3,75,000 Listing Fees Amount (`) 25,000

m) Above ` 300 Crore and upto ` 350 Crores

Companies which have a paid up share, bond and/ or debenture and/or debt capital, etc. of more than ` 500 crores will have to pay minimum fees of ` 3,75,000 and an additional listing fees of ` 2,500 for every increase of ` 5 crores or part thereof in the paid up share, bond and/ or debenture and/or debt capital, etc. Companies which have a paid up share, bond and/ or debenture and/or debt capital, etc. of more than ` 1,000 crores will have to pay minimum fees of ` 6,30,000 and an additional listing fees of ` 2,750 for every increase of ` 5 crores or part thereof in the paid up share, bond and/ or debenture and/or debt capital, etc.

Shareholding Pattern
In the interest of transparency, the issuers are required to disclose shareholding pattern on a quarterly basis. Table 3-3 a presents the sector-wise shareholding pattern at end-March 2010 of companies listed on NSE. On an average, the promoters hold more than 57.83% of total shares. Though the public shareholding is nearly 39.86%, Indian public held only 12.03% and the institutional holdings by (Financial Institutions, Banks, Central and State governments, Insurance companies, FIIs , MFs, VCFs and FVCFs) accounted for 18.37 %. Table 3-3 b shows that around 9.13% of the total shares held by promoters are pledged.

WDM Segment
In the WDM segment, all government securities, state development loans and treasury bills are deemed listed as and when they are issued. Other than those mentioned above, all eligible debt securities whether publicly issued or privately placed can be made available for trading in the

30

WDM segment. Amongst other requirements, privately placed debt paper of banks, institutions and corporates require an investment grade credit rating to be eligible for listing. The listing requirements for securities on the WDM segment are presented in Table 3-4. The growth of securities available for trading on the WDM segment is presented in Table 3-5. As at end March 2010, 4,140 securities with issued capital of ` 3,150,880 crore (US $ 698,024 million) and a market capitalisation of ` 3,165,929 crore (US $ 701,358 million) were available for trading on the WDM segment.

Funds Mobilisation on the Exchange

During the year 2009-10, the resources raised through Public Issues, Rights Issues, QIP and Preferential Allotments is summarized in the table below and Chart 3-2.
Particulars No. of Issues ( ` cr) Equity Public Issues IPOs FPOs Rights Issues QIP Preferential Allotment Non-Convertible Debentures Initial Public Offer Further Issue Total 36 33 3 16 64 134 3 1 2 253 45,624 23,684 21,941 4,893 42,484 15,530 2,500 1,000 1,500 111,032 Amount (US $ mn) 10,107 5,247 4,861 1,084 9,412 3,440 554 443 111 24,597

Chart 3-2 : No. of issues through various instruments during 2009-10

31

Public Issues
Initial Public Offerings (IPOs) Equity Shares During the year 2009-10, 33 companies were listed through IPO mobilizing an amount of ` 23,684 crore (US $ 5,247 million). NHPC Limited was the largest IPO raising ` 6,038.55 crore (US $ 1,337.74 million) followed by Adani Power Limited raising ` 3,016.52 crore (US $ 668.26 million). The details of IPOs listed on NSE during 2009-10 is presented in Table 3-6. Non Convertible Debentures (NCDs) During 2009-10, there were three NCD issues. L&T Finance came out with its initial public offer in form of non-convertible debentures in September 2010. In March 2010, Shriram Transport Finance Co. ltd. and L&T Finance came out with further issue in the form of non-convertible debentures. Details about the resource mobilisation through NCDs is given in the table below:
S.No. 1 2 3 Name of Company Shriram Transport Finance Co. Ltd.** L&T Finance Limited* L&T Finance Limited** Date 4-Sep-09 24-Sep-09 16-Mar-10 Amount Mobilised ( ` crs) 1000 1000 500

* The NCD issue is Initial Public Offer. ** The NCD issue is a further public offer.

Rights Issue
There were 16 Rights issues during 2009-10, out of which Religare Enterprises Ltd. was the largest in terms of issue size of ` 1,814.31 crore (US $ 401.93 million). The details of Rights Issues listed on NSE during 2009-10 is presented in Table 3-7.

Preferential Allotment / Private Placement

During 2009-10, there were 134 preferential allotments that raised ` 15,530.30 crore (US $ 3,440.47 million). The details of Preferential Allotment listed on NSE during 2009-10 are presented in Table 3-8.

QIPs
The amount raised through 64 QIPs during 2009-10, was ` 42,484.45 crore (US $ 9411.71 million). The details of QIPs are presented in Table 3-9.

32

Table 3-1 : Listing Criteria for Companies on the CM Segment of NSE

Criteria Paid-up Equity Capital (PUEC)/Market Capitalisation (MC) /Net Worth Initial Public Offerings (IPOs) PUEC ` 10 cr. and MC ` 25 cr. Companies listed on other exchanges PUEC ` 10 cr. and MC ` 25 cr. OR PUEC ` 25 cr. OR MC ` 50 cr. OR The company shall have a net worth of not less than ` 50 crores in each of the preceding financial years. Atleast three years track record of either a) the applicant seeking listing; OR b) the promoters/promoting company, incorporated in or outside India.

Company/ Promoters Track Record

Atleast 3 years track record of either a) the applicant seeking listing OR b) the promoters/promoting company incorporated in or outside India OR c) Partnership firm and subsequently converted into Company not in existence as a Company for three years) and approaches the Exchange for listing. The Company subsequently formed would be considered for listing only on fulfillment of conditions stipulated by SEBI in this regard. --

Dividend Record / Net worth / Distributable Profits

Dividend paid in at least 2 out of the last 3 financial years immediately preceding the year in which the application has been made OR The networth of the applicants atleast ` 50 crores OR The applicant has distributable profits in at least two out of the last three financial years. Listed on any other stock exchange for at least last three years OR listed on the exchange having nationwide trading terminals for at least one year.

Listing

Other Requirements

(a) No disciplinary action by other stock exchanges/regulatory authority in past 3 yrs. (b) Satisfactory redressal mechanism for investor grievances, (c) distribution of shareholding (d) details of llitigation record in past 3 years. (e) Track record of Directors of the Company

(a) No disciplinary action by other stock exchanges/regulatory authority in past 3 yrs. (b) Satisfactory redressal mechanism for investor grievances, (c) distribution of shareholding and (d) details of llitigation record in past 3 years. (e) Track record of Directors of the Company (f) Change in control of a Company/ Utilisation of funds raised from public

33

Note: 1. (a) In case of IPOs, Paid up Equity Capital means post issue paid up equity capital. (b) In case of Existing companies listed on other exchanges, the existing paid up equity capital as well as the paid up equity capital after the proposed issue for which listing is sought shall be taken into account. 2. (a) In case of IPOs, market capitalisation is the product of the issue price and the post-issue number of equity shares. (b) In case of existing companies listed on other stock exchanges the market capitalisation shall be calculated by using a 12 month moving average of the market capitalisation over a period of six months immediately preceding the date of application. For the purpose of calculating the market capitalisation over a 12 month period, the average of the weekly high and low of the closing prices of the shares as quoted on the National Stock Exchange during the last twelve months and if the shares are not traded on the National Stock Exchange such average price on any of the recognised Stock Exchanges where those shares are frequently traded shall be taken into account while determining market capitalisation after making necessary adjustments for Corporate Action such as Rights / Bonus Issue/Split. 3. In case of Existing companies listed on other stock exchanges, the requirement of ` 25 crores market capital shall not be applicable to listing of securities issued by Government Companies, Public Sector Undertakings, Financial Institutions, Nationalised Banks, Statutory Corporations and Banking Companies who are otherwise bound to adhere to all the relevant statutes, guidelines, circulars, clarications etc. that may be issued by various regulatory authorities from time to time 4. Net worth means paid-up equity capital + reserves excluding revaluation reserve - miscellaneous expenses not written off - negative balance in prot and loss account to the extent not set off. 5. Promoters mean one or more persons with minimum 3 years of experience of each of them in the same line of business and shall be holding at least 20 % of the post issue equity share capital individually or severally. 6. In case a company approaches the Exchange for listing within six months of an IPO, the securities may be considered as eligible for listing if they were otherwise eligible for listing at the time of the IPO. If the company approaches the Exchange for listing after six months of an IPO, the norms for existing listed companies may be applied and market capitalisation be computed based on the period from the IPO to the time of listing.

34

Table 3-2 : Companies Listed, Permitted to Trade, Available for Trading on the CM Segment
Month/Year (end of period) No. of Companies Listed* 0 135 422 550 612 648 720 785 793 818 909 970 1,069 1,228 1,381 1,390 1,398 1,407 1,417 1,422 1,424 1,431 1,430 1,428 1,427 1,425 1,432 1,420 1,425 1,426 1,430 1,431 1,434 1,439 1,443 1,453 1,457 1,461 1470 1,470 No. of Companies Permitted to Trade* 300 543 847 934 745 609 479 320 197 107 18 1 -------------------------------------10 10 31 31 37 37 No. of Companies Available for Trading *@ 300 678 1,269 1,484 1,357 1,254 1,152 1,029 890 788 787 839 929 1,084 1,236 1,244 1,252 1,262 1,272 1,278 1,278 1,282 1,286 1,283 1,286 1,284 1,291 1,279 1,280 1,282 1,287 1,288 1,287 1,291 1,292 1,303 1,338 1,342 1359 1,359 Market Capitalisation * ( ` crore) 292,637 363,350 401,459 419,367 481,503 491,175 1,020,426 657,847 636,861 537,133 1,120,976 1,585,585 2,813,201 3,367,350 4,858,122 5,442,780 5,098,873 4,103,651 4,432,427 4,472,461 3,900,185 2,820,388 2,653,281 2,916,768 2,798,707 2,675,622 2,896,194 3,375,025 4,564,572 4,432,596 4,816,459 4,975,800 5,353,880 5,024,830 5,430,088 5,699,637 5,782,965 5,755,305 6,009,173 6,009,173 (US $ mn) 93,108 115,606 116,873 116,880 121,807 115,761 240,496 141,048 130,504 113,081 258,349 362,419 630,621 772,505 1,215,442 1,068,259 1,000,760 805,427 869,956 877,814 765,493 553,560 520,762 572,477 549,305 525,147 568,439 747,679 1,011,203 981,966 1,067,005 1,102,304 1,186,061 1,113,166 1,202,944 1,262,658 1,281,118 1,274,990 1,331,230 1,331,230

Nov-94 Mar-95 Mar-96 Mar-97 Mar-98 Mar-99 Mar-00 Mar-01 Mar-02 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 2009-10

* At the end of the period @ Excludes suspended companies.

35

36
(in percent) Public Institutional Venture Financial Institu- Foreign Institu- Mutual Funds tional Investors Capital Funds tions/ including Banks/Central Government/ Foreign Venture Capital State Government(s)/ Funds Insurance Companies 9.85 10.84 8.15 11.90 2.47 3.89 6.43 1.57 4.92 4.25 5.49 5.29 1.98 8.10 8.64 8.05 3.90 1.57 2.92 8.78 3.85 6.08 2.47 7.06 4.72 0.16 0.00 0.12 0.60 0.00 0.00 363,160,395 9.58 3.07 0.15 8.79 3.44 0.02 8.90 2.03 0.45 11.68 2.32 0.15 0.17 0.00 0.30 0.00 0.31 0.40 0.00 0.00 0.04 456,187,691 0.19 14.09 7.18 0.00 0.00 16.53 3.35 0.00 0.67 8.28 10.82 0.00 0.61 16.02 3.50 0.00 0.40 5.75 10.98 6.76 5.63 6.87 3.19 6.68 9.66 6.15 7.43 7.97 3.98 9.46 13,789,878,538 5.74 12.68 20.84 15.55 12.71 16.71 5.87 15.03 12.63 10.64 20.32 12.35 9.48 18.92 Any other Bodies Corporate Individuals Non- Institutional Any Other Shares held by Custodians and against which Depository Receipts have been issued 0.86 7.49 4.02 13.02 4.74 1.87 2.33 2.10 3.26 3.17 4.09 10.05 5.62 28,876,284,061 8,495,555,436 12.03 3.54 3.92 1.00 0.24 0.28 6.75 0.06 3.21 9.28 4.64 1.63 0.71 0.64 0.48 5,536,759,300 2.31 13,365,229,286 22,993,197,680 7,379,382,003 5.57

Table 3-3 a : Shareholding Pattern at the end of March 2010 of companies Listed on NSE

Sectors

Promoters

Indian Promoters

Foreign Promoters

Banks

45.94

1.08

Engineering

27.36

1.76

Finance

42.90

1.82

FMCG

20.24

14.94

Information Technology

41.77

6.38

Infrastructure

71.18

2.55

Manufacturing

44.98

8.82

Media & Entertainment

49.28

3.54

Petrochemicals

54.73

6.78

Pharmaceuticals

39.29

10.75

Services

45.27

11.58

Telecommunication

52.55

7.80

Miscellaneous

50.21

2.26

Number of Shares

123,995,584,268 14,869,503,195

% to Total Number of Shares

51.64

6.19

Table 3-3 b : Sectorwise Pledged Shares of Promoters of Companies Listed at NSE ar the end of March 2010.
Sectors Indian Promoters (No.) 6,108,864,413 443,448,622 4,337,315,551 2,079,925,510 5,412,785,833 43,003,555,153 30,510,730,999 2,730,830,464 12,408,195,923 2,782,337,615 3,432,491,991 7,490,950,815 3,254,151,379 123,995,584,268 Foreign Promoters (No.) 143,446,889 28,590,809 184,031,799 1,535,216,594 826,972,951 1,540,126,582 5,979,738,065 196,254,541 1,537,897,877 761,540,572 877,784,737 1,111,238,881 146,662,898 14,869,503,195 Shares pledged (No.) %age of pledged shares

Banks Engineering Finance FMCG Information Technology Infrastructure Manufacturing Media & Entertainment Petrochemicals Pharmaceuticals Services Telecommunication Miscellaneous Total

5,924,955 17,793,262 75,975,376 242,927,311 394,413,453 5,531,874,706 3,289,368,642 575,236,403 637,863,199 156,201,607 631,782,904 580,510,998 545,277,625 12,685,150,441

0.09 3.77 1.68 6.72 6.32 12.42 9.01 19.65 4.57 4.41 14.66 6.75 16.03 9.13

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Table 3-4 : Eligibility Criteria for Securities on WDM Segment

Issuer Eligibility Criteria for listing Public Issue /Private Placement Corporates (Public limited companies and Private limited companies) Public Sector Undertaking, Statutory Corporation established/ constituted under Special Act of Parliament /State Legislature, Local bodies/ authorities Mutual Funds: Units of any SEBI registered Mutual Fund/scheme : Investment objective to invest predominantly in debt or Scheme is traded in secondary market as debt instrument Paid-up capital of ` 10 crores; or Market capitalisation of ` 25 crores (In case of unlisted companies Networth more than ` 25 crores) Credit rating Credit rating

Qualies for listing under SEBIs Regulations

Infrastructure companies Tax exemption and recognition as infrastructure company under related statutes/regulations Financial Institutions u/s. 4A of Companies Act, 1956 including Industrial Development Corporations

Qualies for listing under the respective Acts, Rules or Regulations under which the securities are issued. Credit rating

Public Issue

Private Placement

Qualies for listing under the Credit rating respective Acts, Rules or Regulations under which the securities are issued. Scheduled banks Networth of ` 50 crores or above Qualies for listing under the respective Acts, Rules or Regulations under which the securities are issued. Scheduled Banks Networth of ` 50 crores or above Credit rating

Banks

Table 3-5 : Securities Available for Trading on WDM Segment (as on March 31)
Securities Number 2009 Amount ( ` cr) Government Securities T-Bills PSU Bonds Institutional. Bonds Bank Bonds Corporate Bonds Others Total 1,391 52 783 263 459 1,000 6 3,954 2,272,333 147,617 129,499 57,628 132,662 107,782 795 2,848,315 Amount (US $ mn) 445,993 28,973 25,417 11,311 26,038 21,154 156 559,041 1,461 54 795 299 518 992 21 4,140 Number 2010 Amount ( ` cr) 2,472,978 137,500 161,904 77,568 164,385 133,428 3,117 3,150,880 Amount (US $ mn) 547,846 30,461 35,867 17,184 36,417 29,559 690 698,024

38

Table 3-6 : Initial Public Offerings (IPOs) during 2009-10

Sector Issue size Date of Listing No. of Securities issued Issue Price Close Price on rst day of trading / Listing Price (`) 317.45 95.85 119.25 100.10 36.75 87.30 91.00 1,141.20 56.70 75.00 125.00 45.00 195.00 7,500,150 18,496,640 267,326,604 9,429,750 6-Jan-10 18,175,000 5,700,000 82.00 330.00 100.00 490.00 212.00 180.00 53.55 164.40 39.50 163.40 84.00 425.40 100.85 537.25 265.90 206.55 39.55 59.75 116.00 30.45 81.00 135.35 1,154.75 70.20 24.10 189.55 30.75 195.75 49.15 481.35 111.85 511.55 239.90 226.20 544.70 (`) (in %) 5.82 12.76 -0.63 0.10 2.08 16.40 -9.00 8.69 -2.24 -28.60 31.52 -12.22 -16.21 2.44 28.91 0.85 9.64 25.42 14.75 Close Price at end of March 2010 Price Appreciation/ Depreciation on the rst day of trading with the issue price Price Appreciation/ Depreciation at end March 2009 with the issue price (in %) 81.57 -53.47 -50.21 16.00 -15.42 8.00 35.35 9.98 21.03 -67.87 51.64 -31.67 0.38 -40.06 45.86 11.85 4.40 13.16 25.67 Contd...

Sr. No.

Company Name

( ` cr) 277.96 48.17 114.00 12-Aug-09 3016.52 20-Aug-09 6038.55 93.43 22-Sep-09 75.00 23-Sep-09 2777.25 30-Sep-09 498.66 66.00 15-Oct-09 45.58 26-Oct-09 1529.10 30-Oct-09 364.45 24-Nov-09 61.50 25-Nov-09 610.39 11-Dec-09 2657.73 468.85 384.22 4-Jan-10 5-Jan-10 3,646,000 339,800,000 18,567,240 8,800,049 9-Oct-09 85,450,225 26,449,982 1050.00 58.00 7,500,000 100.00 12,457,034 75.00 1-Sep-09 1,677,374,015 36.00 301,652,031 100.00 9,500,008 120.00 3-Aug-09 5,667,079 85.00 16-Jul-09 9,265,275 300.00

(`)

Equity Issues 1 Mahindra Holidays & Resorts India Limited

Services

Excel Infoways Limited

Services

Raj Oil Mills Limited

Manufacturing

Adani Power Limited

Infrastructure

NHPC Limited

Infrastructure

Jindal Cotex Limited

Manufacturing

Globus Spirits Limited

FMCG

Oil India Limited

Petrochemicals

Pipavav Shipyard Limited

Services

10

Euro Multivision Limited

Information Technology

11

Thinksoft Global Services Limited

Information Technology

12

Indiabulls Power Limited

Infrastructure

13

Den Networks Limited

Media & Entertainment

14

Astec LifeSciences Limited

Petrochemicals

15

Cox And Kings (India) Limited

Services

16

JSW Energy Limited

Infrastructure

17

Godrej Properties Limited

Infrastructure

18

D. B. Corp Limited

Services

19

MBL Infrastructures Limited

Infrastructure

102.60 11-Jan-10

39

40
Sector Issue size Date of Listing No. of Securities issued Issue Price Close Price on rst day of trading / Listing Price (`) 191.80 229.10 87.75 148.05 71.05 244.60 456.20 28.75 207.65 737.45 137.15 252.00 66.00 258.00 349.85 68.65 274.65 120.60 154.90 81.55 271.05 453.85 20.65 207.50 928.10 91.95 358.75 68.80 278.35 313.60 190.70 (`) (in %) 16.24 58.00 17.00 -10.27 -5.27 11.18 -2.52 -36.11 -13.48 63.88 52.39 38.83 4.02 6.45 Close Price at end of March 2010 Price Appreciation/ Depreciation on the rst day of trading with the issue price Price Appreciation/ Depreciation at end March 2009 with the issue price (in %) 15.58 116.28 60.80 -6.12 8.73 23.20 -3.02 -54.11 -13.54 106.24 2.17 42.36 4.24 7.89 ( ` cr) 189.8383 328.72 8-Feb-10 7,500,000 10,800,000 3,833,667 6,916,225 32,051,282 8,657,700 27,750,000 2,289,230 5,000,000 5,625,204 50,000,000 27,131,782 450.00 90.00 240.00 45.00 468.00 220.00 75.00 165.00 75.00 22,670,452 145.00 56.25 15-Feb-10 178.20 15-Feb-10 28.75 19-Feb-10 152.16 23-Feb-10 1500.00 24-Feb-10 38.96 24-Feb-10 666.00 25-Feb-10 103.02 45.00 10-Mar-10 141.76 11-Mar-10 324.98 18-Mar-10 700.00 30-Mar-10 23,684 3-Mar-10 3-Feb-10 11,505,352 165.00 (`) 106.64 24-Sep-09 Finance 296.35 24-Sep-09 126.32 24-Sep-09 470.69 24-Sep-09 1066381 1000.00 2963483 1000.00 1263197 1000.00 4706939 1000.00 1,029.90 1,030.00 1,044.00 1,038.00 1036 1034 1111 1054.01 2.99 3 4.4 3.8 3.6 3.4 11.1 5.401

Contd...

Sr. No.

Company Name

20

Innite Computer Sol Ltd

Information Technology

21

Jubilant Foodworks Limited

Manufacturing

22

Syncom Healthcare Limited

Pharmaceuticals

23

Vascon Engineers Ltd

Manufacturing

24

Thangamayil Jewellery Ltd

Miscellaneous

25

Aqua Logistics Ltd

Services

26

D B Realty Limited

Infrastructure

27

Emmbi Polyarns Ltd

Miscellaneous

28

Hathway Cable & Datacom

Media & Entertainment

29

ARSS Infrastructure Projects Limited

Infrastructure

30

Texmo Pipes and Products Limited

Manufacturing

31

Man Infraconstruction Limited

Infrastructure

32

United Bank of India

Bank

33

IL&FS Transportation Networks Limited

Services

Total

Non Convertible Debenture - Initial Public Offer during 2009-10

1 L&T Finance Limited

L&TFINANCE-Series N1

L&TFINANCE-Series N2

L&TFINANCE-Series N3

L&TFINANCE-Series N4

Table 3-7 : Rights Issues during 2009-10

S. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Company Name Amount Mobilised ( ` Crore) 159.94 449.59 14.85 187.36 39.91 374.13 45.89 27.24 126.01 997.12 212.60 39.95 263.14 40.86 99.90 1814.31 4892.81 Amount Mobilised (US $ mn) 35.43 99.60 3.29 41.51 8.84 82.88 10.17 6.04 27.92 220.89 47.10 8.85 58.29 9.05 22.13 401.93 1,083.92 Date of Listing

Chemplast Sanmar Limited Alok Industries Limited Sundaram Brake Linings Limited Piramal Glass Limited JMC Projects (India) Limited The Tinplate Company of India Limited Greenply Industries Limited Morarjee Textiles Limited Television Eighteen India Limited Fortis Healthcare Limited Wire and Wireless (India) Limited Impex Ferro Tech Limited Lakshmi Vilas Bank Limited City Union Bank Limited Infomedia 18 Limited Religare Enterprises Limited Total

7-May-2009 11-May-2009 3-Jul-2009 25-Sep-2009 8-Oct-2009 21-Oct-2009 26-Oct-2009 29-Oct-2009 30-Oct-2009 3-Nov-2009 9-Nov-2009 17-Nov-2009 30-Dec-2009 5-Jan-2010 29-Jan-2010 2-Mar-2010

Table 3-8 : Preferential Allotments by NSE Listed Companies during 2009-10

S.No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Company Name GTL Infrastructure Limited Geojit BNP Paribas Financial Services Limited JIK Industries Limited NCL Industries Limited Jain Irrigation Systems Limited West Coast Paper Mills Limited Talbros Automotive Components Limited Cranes Software International Limited Satyam Computer Services Limited Suryajyoti Spinning Mills Limited JIK Industries Limited Opto Circuits (India) Limited Opto Circuits (India) Limited Opto Circuits (India) Limited Rane Brake Lining Limited Apollo Hospitals Enterprise Limited Bombay Rayon Fashions Limited Banswara Syntex Limited Amount Raised US $ mn 6.00 36.17 0.51 3.60 72.00 13.50 2.67 38.74 1756.03 1.12 2.47 0.00 0.00 19.44 3.50 77.10 333.00 0.00 1.33 8.01 0.11 0.80 15.95 2.99 0.59 8.58 389.02 0.25 0.55 4.31 0.78 17.08 73.77 -

` Crore

Contd...

41

Contd... S.No. 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 Company Name Softpro Systems Limited GTL Infrastructure Limited Rana Sugars Limited GMR Infrastructure Limited Shree Renuka Sugars Limited R. S. Software (India) Limited Dewan Housing Finance Corporation Limited Max India Limited Raj Rayon Limited IFB Industries Limited IFB Industries Limited Network18 Media & Investments Limited Satyam Computer Services Limited Shri Lakshmi Cotsyn Limited Gallantt Metal Limited Radha Madhav Corporation Limited Dewan Housing Finance Corporation Limited West Coast Paper Mills Limited Adhunik Metaliks Limited Adhunik Metaliks Limited Himadri Chemicals and Industries Limited Arvind Limited Delta Corporation Limited Delta Corporation Limited Delta Corporation Limited Simbhaoli Sugars Limited Jai Balaji Industries Limited OnMobile Global Limited TIL Limited Karuturi Global Limited Sesa Goa Limited Kohinoor Foods Limited MVL Limited Shriram Transport Finance Company Limited Motilal Oswal Financial Services Limited J.Kumar Infraprojects Limited Axis Bank Limited JIK Industries Limited JIK Industries Limited ING Vysya Bank Limited Ind-Swift Laboratories Limited ` Crore Amount Raised US $ mn 6.53 481.98 4.37 149.72 25.03 0.43 25.01 150.00 0.08 6.80 2.94 90.00 1152.22 7.79 15.50 21.82 75.44 11.50 100.00 72.22 17.55 11.25 24.86 35.08 0.81 6.83 273.26 3.30 9.78 5.06 537.24 5.64 5.00 240.00 13.72 24.00 360.56 0.38 0.62 185.91 3.50 1.45 106.77 0.97 33.17 5.54 0.10 5.54 33.23 0.02 1.51 0.65 19.94 255.25 1.72 3.43 4.83 16.71 2.55 22.15 16.00 3.89 2.49 5.51 7.77 0.18 1.51 60.54 0.73 2.17 1.12 119.02 1.25 1.11 53.17 3.04 5.32 79.88 0.08 0.14 41.19 0.78 Contd...

42

Contd... S.No. 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 Company Name Ind-Swift Laboratories Limited MVL Limited Celebrity Fashions Limited Gujarat NRE Coke Limited NCL Industries Limited Simplex Projects Limited Mawana Sugars Limited Allcargo Global Logistics Limited HCL Infosystems Limited Era Infra Engineering Limited Era Infra Engineering Limited Abhishek Industries Limited Radha Madhav Corporation Limited ibn18 Broadcast Limited Pantaloon Retail (India) Limited Network18 Media & Investments Limited Network18 Media & Investments Limited Aditya Birla Nuvo Limited Allcargo Global Logistics Limited Jindal Saw Limited FCS Software Solutions Limited Electrosteel Castings Limited HBL Power Systems Limited Sujana Tower Limited Ruchi Soya Industries Limited Ucal Fuel Systems Limited Lloyds Steel Industries Limited The Dhampur Sugar Mills Limited Rallis India Limited Su-Raj Diamonds and Jewellery Limited Videocon Industries Limited Berger Paints (I) Limited Electrosteel Castings Limited HDFC Bank Limited Maral Overseas Limited Websol Energy Systems Limited Berger Paints (I) Limited LT Foods Limited Raj Rayon Limited S. Kumars Nationwide Limited Shreyans Industries Limited ` Crore Amount Raised US $ mn 4.90 1.00 0.50 20.00 5.03 8.10 16.00 100.97 251.35 178.50 119.00 59.64 12.86 25.50 276.33 119.63 99.00 432.95 141.36 213.01 18.20 73.13 34.70 4.00 105.00 29.87 20.00 22.84 89.03 77.62 45.00 36.36 23.58 4008.97 19.75 3.72 99.00 25.40 0.90 15.00 8.94 1.09 0.22 0.11 4.43 1.11 1.79 3.54 22.37 55.68 39.54 26.36 13.21 2.85 5.65 61.22 26.50 21.93 95.91 31.32 47.19 4.03 16.20 7.69 0.89 23.26 6.62 4.43 5.06 19.72 17.19 9.97 8.05 5.22 888.12 4.38 0.82 21.93 5.63 0.20 3.32 1.98 Contd...

43

Contd... S.No. 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 K S Oils Limited Bajaj Hindusthan Limited S. Kumars Nationwide Limited K Sera Sera Productions Limited Amtek Auto Limited Amtek India Limited Sujana Tower Limited Karuturi Global Limited Asian Electronics Limited Ind-Swift Laboratories Limited Ind-Swift Laboratories Limited Escorts Limited Mahindra & Mahindra Limited Sree Rayalaseema Hi-Strength Hypo Limited Ahmednagar Forgings Limited Ansal Properties & Infrastructure Limited Himadri Chemicals and Industries Limited Punjab Chemicals & Crop Protection Limited S. Kumars Nationwide Limited SEL Manufacturing Company Limited Asian Electronics Limited Softpro Systems Limited LG Balakrishnan & Bros Limited B.A.G Films and Media Limited JHS Svendgaard Laboratories Limited Nagarjuna Fertilizer & Chemicals Limited India Foils Limited Gujarat NRE Coke Limited Supreme Tex Mart Limited Aarti Industries Limited SEL Manufacturing Company Limited Nectar Lifesciences Limited Shree Renuka Sugars Limited Nitin Spinners Limited Total Company Name Amount Raised US $ mn 135.22 75.60 5.00 8.65 101.08 24.19 17.60 27.36 14.40 4.20 4.46 44.80 700.00 0.82 8.60 67.39 252.40 8.16 108.26 34.98 3.33 1.80 0.00 12.35 7.13 1.26 13.60 98.67 20.19 10.78 39.90 91.00 205.87 5.00 15530.30 29.96 16.75 1.11 1.92 22.39 5.36 3.90 6.06 3.19 0.93 0.99 9.93 155.07 0.18 1.91 14.93 55.91 1.81 23.98 7.75 0.74 0.40 0.00 2.74 1.58 0.28 3.01 21.86 4.47 2.39 8.84 20.16 45.61 1.11 3,440.47

` Crore

44

Table 3-9 : Amount raised through QIP during 2009-10

Sr.No Name of the company Amount Raised ( ` cr) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 3i Infotech Limited Aban Offshore Limited Ackruti City Limited Adhunik Metaliks Limited Allied Digital Services Limited Axis Bank Limited Bajaj Electricals Limited Bajaj Hindusthan Limited Cipla Limited Development Credit Bank Limited Delta Corp Limited Dewan Housing Finance Corporation Limited Educomp Solutions Limited Electrosteel Castings Limited Electrosteel Castings Limited Emami Limited Exide Industries Limited Gammon India Limited Glenmark Pharmaceuticals Limited GVK Power & Infrastructure Limited Hindustan Construction Company Limited HCL Infosystems Limited Housing Development Finance Corporation Limited Housing Development Finance Corporation Limited Housing Development and Infrastructure Limited Hindalco Industries Limited Indiabulls Real Estate Limited Indiabulls Financial Services Limited The India Cements Limited Indusind Bank Limited ING Vysya Bank Limited Jai Balaji Industries Limited J.Kumar Infraprojects Limited KSK Energy Ventures Limited The Karnataka Bank Limited LIC Housing Finance Limited Lanco Infratech Limited 317.81 697.50 302.40 137.13 231.42 2,996.14 160.79 723.18 675.99 81.00 83.26 225.77 606.69 10.07 200.00 310.00 539.50 304.16 413.56 716.85 480.11 472.67 301.23 4,000.00 1,688.40 2,790.10 2,656.50 960.00 295.62 480.35 230.00 198.51 55.46 515.93 160.83 658.00 727.35 (US $ mn) 70.41 154.52 66.99 30.38 51.27 663.74 35.62 160.21 149.75 17.94 18.45 50.02 134.40 2.23 44.31 68.68 119.52 67.38 91.62 158.81 106.36 104.71 66.73 886.13 374.04 618.10 588.50 212.67 65.49 106.41 50.95 43.98 12.29 114.29 35.63 145.77 161.13 Contd...

45

Contd... Sr.No Name of the company Amount Raised ( ` cr) 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 Larsen & Toubro Limited Mahindra Forgings Limited United Spirits Limited Nagarjuna Construction Company Limited Network18 Media & Investments Limited Opto Circuits (India) Limited Orbit Corporation Limited Pantaloon Retail (India) Limited Parsvnath Developers Limited Patel Engineering Limited PSL Limited PTC India Limited Punj Lloyd Limited Radico Khaitan Limited Rei Agro Limited Shree Renuka Sugars Limited Sobha Developers Limited Shriram Transport Finance Company Limited Sunteck Realty Limited Texmaco Limited Unitech Limited Unitech Limited Unity Infraprojects Limited Usha Martin Limited Websol Energy Systems Limited Welspun Corp Limited Yes Bank Limited Total 1,872.80 175.00 1,615.60 367.35 204.92 400.00 145.05 499.98 168.01 344.32 149.32 499.99 670.18 341.79 182.67 506.03 526.90 583.86 158.44 170.56 1,621.10 2,789.33 73.34 468.16 45.40 466.20 1,033.88 42,484.45 (US $ mn) 414.89 38.77 357.91 81.38 45.40 88.61 32.13 110.76 37.22 76.28 33.08 110.76 148.47 75.72 40.47 112.10 116.72 129.34 35.10 37.78 359.13 617.93 16.25 103.71 10.06 103.28 229.04 9,411.71

46