Press Releases

Wednesday
April 19, 2006

Rolta successfully lists its GDR on Main Board of the London Stock Exchange

Mumbai, April 19, 2006 :Rolta India Limited (the "Company") raised US$ 103.50 million, through the issue of 18,482,143 Global Depository Receipts ("GDRs"), including a green shoe option of US$ 13.50 million to be exercised within 30 days by the Joint Lead Managers. Each GDR was priced at US$5.60, equivalent to Rs.250 per equity share. This was based on the Bombay Stock Exchange average closing price of Rs.250.89 for the four weeks ending on the pricing date. The issue was priced on April 7, 2006 and closed on April 18, 2006. Lehman Brothers International (Europe) acted as Global Coordinator and Sole Bookrunner on this transaction. Lehman Brothers International (Europe) and Cantor Fitzgerald Europe acted as Joint Lead Managers.

The GDRs were admitted to listing on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc's regulated market for listed securities on April 18, 2006. With this listing on the main board of London Stock Exchange, the company will comply with the European Union directives and disclosure norms such as giving Financial Statements under International Financial Reporting Standards (IFRS) and others showing its commitment to corporate governance internationally.

After this GDR issue the FII holding in the company is about 31%, Domestic Mutual funds /FIs / Banks / Corporate Body holding is about 10%, Public holding is about 21% and Promoters holding is about 38%. The major foreign institutional investors after this issue include Fidelity, GMO, DWS investment (Deutsche Bank Group), Credit Agricole, General Electric Investment Corporation, Invesco, Cominvest (Commerz Bank Group), GLG Asset Management, Polygon Investments, Old Lane and others.

The proceeds from this GDR will be used for expansion of facilities within India and Internationally especially in the Asia Pacific region and for other strategic corporate requirements. The company intends to double its employee strength to 5000 in the next 24 to 30 months.

The company through its joint venture Stone & Webster Rolta Limited is well poised to undertake in India, large nuclear power plant projects from concept to completion and has already taken steps in this direction.

Commenting today, Mr. Kamal K. Singh, Chairman and Managing Director of the Company said, "We are delighted with the success of our inaugural GDR offering. This is the first Indian GDR to be listed on the main board of the London Stock Exchange after implementation new EU norms with effect from 1st July 2005. The deal generated substantial demand from top tier investors in Europe, Asia and the US. We believe that the proceeds raised from this offering will allow Rolta to further develop its strength in key markets, both in India and internationally, and continue the success it has achieved thus far".

Company Background : Rolta India Limited is an Indian company operating in India and overseas. Rolta provides software/information technology based engineering and geospatial solutions and services to customers across the world and has executed projects in more than 35 countries. Rolta is headquartered in Mumbai and operates through a network of twelve regional/branch offices in India and seven subsidiaries located in USA, Canada, UK, The Netherlands, Germany, Saudi Arabia and UAE. It is listed on the Bombay Stock Exchange and National Stock Exchange in India and its GDRs are listed on London Stoke Exchange UK.

Rolta is India's leading provider of GIS/GeoEngineering solutions and services and one of the major AM/FM/GIS Photogrammetry service providers in the world for segments such as Defence, Environment, Electric, Telecom, Gas, Emergency Services, Municipalities and Airports. The Company's customer base for GIS projects is spread across 17 countries with multi million dollar projects executed in various parts of the world.

Rolta is also the leading provider of Plant Design Automation solutions and services in India and one of the major Plant Information Management services providers worldwide. The Company's customer base for such business is spread across 22 countries with over 500 projects executed in various parts of the world. To move up the value chain in the engineering domain, the Company has established a joint venture with Stone & Webster Inc., USA, namely Stone & Webster Rolta Limited ('SWRL'). SWRL has access to Stone & Webster's proprietary technology. This joint venture provides high quality engineering services worldwide through Stone & Webster and undertakes selective refinery, petrochemicals and power projects in India.

The Company provides eSecurity implementation services, rapid application development and software testing services to its customers worldwide. In on-going partnership with CA (Computer Associates) the Company has executed over 350 projects globally in 18 countries.

Rolta enjoys strong business partnerships with international technology leaders like Intergraph, Z/I Imaging, PTC, Computer Associates, IBM, Microsoft, Oracle and others to help the Company move up the value chain. Rolta globally has more than 2,500 employees. Nearly 75 per cent of the Company's workforce has engineering qualifications, including significant numbers with master's degrees or doctorates and Rolta ensures constant ongoing training to its professionals. The annual IDC-DQ Best Employers Survey has consistently ranked the Company as one of the top employers in the IT industry in India. The Company has established world-class infrastructure of around 500,000 sq. ft. that is equipped with sophisticated computing systems, cutting-edge software and dedicated high-speed networking and communication links connecting its offices worldwide.

Rolta's quality standards are benchmarked to world-class levels, with top quality certifications such as ISO 9001:2000, BS 7799, and SEI CMM Level 5. The British Standards Institution (BSI) has awarded Rolta the BS15000 certification for its entire range of IT Service Management Processes. This unique accreditation has been bestowed on handful of companies globally.

Press release by London Stock Exchange

Rolta at London Stock Exchange

For additional information

Mr.V L Ganesh  
Director-Finance & Chief Financial Officer
Telephone: 2832 6666 / 2826 2222 Extn: 1501  

Mr. Hiranya Ashar  
Director-Corporate Affairs and Investor Relations
Telephone: 2832 6666 / 2826 2222 Extn: 1551  

           www.rolta.com