The delivery of the first phase buying will begin next month. The selection was made through a random computerised process, the company said.
'Tata Motors once again places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano, as also to all its preferred financiers, dealers and partner companies for their stupendous effort in helping the company launch the Tata Nano,' a company statement read.
The booking process which started om Apr 9 closed on Apr 25. The booking were made across Tata Motors dealerships and State Bank of India (SBI) branches. The numbers just added up to 2 lakhs which was much lower than expected.
The company said that 55,021 applicants out of the 106,703 not selected in the first phase had opted to retain their booking. For the second phase, they will be given preferential allotment.
Those who do not get the delivery by two years are entitled to an interest rate of 8.5 per cent on the booking amount. The company has also promised to offer 'an exciting offer on the Tata Indica range' to the unsuccessful applicants.