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  • Olympic Cards Ltd IPO Basis of Allotment

      

    OLYMPIC CARDS LIMITED

    (Originally incorporated as 'Olympic Business Credits (Madras) Private Limited' on April 21,1992 under the Companies Act, 1956 at Chennai vide Certificate of Incorporation bearing Corporate Identification Number U65993TN1992PLC022521 issued by the Registrar of Companies, Tamil Nadu at Chennai ('ROC'). Subsequently, the Company became a Public Limited Company and the name was changed to 'Olympic Business Credits (Madras) Limited' vide fresh Certificate of Incorporation dated October 31,1996. Further, the name of the Company was changed to 'Olympic Cards Limited' and a fresh Certificate of Incorporation was obtained from ROC on June 2, 1998. For details of changes in the registered office of our Company, please refer the section titled 'History and Corporate Structure' beginning on page 102 of the Prospectus.)

    Registered Office: 195, N.S.C. Bose Road, Chennai - 600 001, Tel: +91-44-42921000, +91-44-25380652;
    Fax: +91-44-25390300
    Website: www.olympicweddingcards.com; Email: ipo@oclwed.com
    Contact Person: Mr. N. Gopalswamy, Company Secretary & Compliance Officer;E-mail: complianceofficer@oclwed.com

    The Promoters of our Company are Mr. H. Noor Mohamed and Mrs. S. Jarina

    BASIS OF ALLOTMENT

    PUBLIC ISSUE OF 83,33,333 EQUITY SHARES OF RS. 10 EACH OF OLYMPIC CARDS LIMITED (THE 'COMPANY' OR THE ISSUER) FOR CASH AT A PRICE OF RS. 30 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 20 PER EQUITY SHARE, AGGREGATING UPTO RS. 2500.00 LACS (THE ISSUE). THE ISSUE WOULD CONSTITUTE 49.45 % OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.

    ISSUE PRICE: RS. 30/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH. THE ISSUE PRICE IS 3 TIMES THE FACE VALUE

    BID/ISSUE OPENED ON MARCH 09, 2012 AND CLOSED ON MARCH 13, 2012.

    This Issue is being made through the , 100% Book Building Process wherein up to 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs"), out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds. The balance shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price. Qualified Institutional Buyers and Non-Institutional Investors should mandatorily required to apply through ASBA.

    The Issue received 1697 applications for 8247000 equity shares resulting in 0.99 times subscription. The details of the applications (including ASBA applications) received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories are as detailed hereunder: (before technical rejections)

    Sr.No. Category No. of Applications No. of Equity Shares No. of times subscription
    A Retail Individual Bidders 1636 3949200 1.35
    B Non Institutional Bidders 61 4297800 3.44
    C Qualified Institutional Bidders Nil Nil Nil
    Total 1697 8247000

    Final Demand
    The final demand at different bid prices is as under:

    Bid Priced) No. of Equity Shares % to Total Cumulative Total Cumulative % to total
    30 4016800 48.27 8322000 100.00
    31 600 0.01 4305200 51.73
    32 1403200 16.86 4304600 51.73
    Cut-off 2901400 34.86 2901400 34.86

    The Basis of Allocation was finalized in consultation with the Designated Stock Exchange, being BSE Limited ("BSE") on March 22,2012.

    A. Allocation to Retail Individual Bidders (After Technical Rejections)
    The Basis of Allocation to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs.30 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.6554 times. The total number of shares allotted in Retail Individual Bidders category is 3823000 Equity Shares to 1580 successful applicants which includes the spill over portion from QIB category of 2916666 Equity Shares and spill over to Non Institutional Investor category of 2010333 Equity Shares. The category-wise details of the Basis of Allotment are as under:

    Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allotted Ratio Total Number of Equity Shares allotted
    200 786 49.75 157200 4.11 200 FIRM 157200
    400 56 3.54 22400 0.59 400 FIRM 22400
    600 43 2.72 25800 0.67 600 FIRM 25800
    800 18 1.14 14400 0.38 800 FIRM 14400
    1000 41 2.59 41000 1.07 1000 FIRM 41000
    1200 4 0.25 4800 0.13 1200 FIRM 4800
    1400 2 0.13 2800 0.07 1400 FIRM 2800
    1600 10 0.63 16000 0.42 1600 FIRM 16000
    2000 5 0.32 10000 0.26 2000 FIRM 10000
    2400 2 0.13 4800 0.13 2400 FIRM 4800
    2600 1 0.06 2600 0.07 2600 FIRM 2600
    2800 2 0.13 5600 0.15 2800 FIRM 5600
    3000 75 4.75 225000 5.89 3000 FIRM 225000
    3200 1 0.06 3200 0.08 3200 FIRM 3200
    3400 2 0.13 6800 0.18 3400 FIRM 6800
    3600 3 0.19 10800 0.28 3600 FIRM 10800
    4000 4 0.25 16000 0.42 4000 FIRM 16000
    4600 2 0.13 9200 0.24 4600 FIRM 9200
    5000 22 1.39 110000 2.88 5000 FIRM 110000
    5200 1 0.06 5200 0.14 5200 FIRM 5200
    5400 1 0.06 5400 0.14 5400 FIRM 5400
    5800 5 0.32 29000 0.76 5800 FIRM 29000
    6000 33 2.09 198000 5.18 6000 FIRM 198000
    6200 361 22.85 2238200 58.55 6200 FIRM 2238200
    6400 6 0.38 38400 1.00 6400 FIRM 38400
    6600 94 5.95 620400 16.23 6600 FIRM 620400

    B. Allocation to Non Institutional Bidders (After Technical Rejections)
    The Basis of Allocation to the Non-Institutional Bidders, who have bid at the Issue Price of Rs. 30 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.8795 times. The total number of equity shares allotted in this category is 3966800 equity shares to 60 successful applicants which includes the spill over portion from QIB category of 1250000 Equity Shares and Retail Individual category of 2010333 Equity Shares. The category wise details of the Basis of Allotment are as under:

    Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allotted Ratio Total Number of Equity Shares allotted
    10000 3 5.00 30000 0.76 10000 FIRM 30000
    15000 1 1.67 15000 0.38 15000 FIRM 15000
    15400 4 6.67 61600 1.55 15400 FIRM 61600
    15600 6 10.00 93600 2.36 15600 FIRM 93600
    16600 11 18.33 182600 4.60 16600 FIRM 182600
    16800 2 3.33 33600 0.85 16800 FIRM 33600
    18600 1 1.67 18600 0.47 18600 FIRM 18600
    19400 1 1.67 19400 0.49 19400 FIRM 19400
    20000 1 1.67 20000 0.50 20000 FIRM 20000
    23000 1 1.67 23000 0.58 23000 FIRM 23000
    24000 2 3.33 48000 1.21 24000 FIRM 48000
    25000 4 6.67 100000 2.52 25000 FIRM 100000
    26000 2 3.33 52000 1.31 26000 FIRM 52000
    31200 1 1.67 31200 0.79 31200 FIRM 31200
    32600 1 1.67 32600 0.82 32600 FIRM 32600
    40000 1 1.67 40000 1.01 40000 FIRM 40000
    43400 1 1.67 43400 1.09 43400 FIRM 43400
    57800 1 1.67 57800 1.46 57800 FIRM 57800
    61800 1 1.67 61800 1.56 61800 FIRM 61800
    62400 3 5.00 187200 4.72 62400 FIRM 187200
    63000 2 3.33 126000 3.18 63000 FIRM 126000
    66600 1 1.67 66600 1.68 66600 FIRM 66600
    100000 2 3.33 200000 5.04 100000 FIRM 200000
    133200 3 5.00 399600 10.07 133200 FIRM 399600
    156200 1 1.67 156200 3.94 156200 FIRM 156200
    200000 1 1.67 200000 5.04 200000 FIRM 200000
    667000 1 1.67 667000 16.81 667000 FIRM 667000
    1000000 1 1.67 1000000 25.21 1000000 FIRM 1000000

    The Board of Directors of the Company at it's Meeting held on March 22, 2012, has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., BSE Limited ("BSE") and has authorized the Corporate Action for the transfer of the shares to various successful applicants.

    The CAN-cum-Refund Orders and allotment advice and/or notices have been dispatched to the address of the bidders as registered with the depositories. Further the instructions to SCSBs have been dispatched/mailed on March 24,2012. 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 Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. Commencement of Trading:

    The Company is taking steps to get the Equity Shares admitted for trading on BSE Limited on or before March 28,2012.

    INVESTORS PLEASE NOTE
    This details of the allocation made would be hosted on the website of Registrars to the Issue, Cameo Corporate Services Limited at Website: www.cameoindia.com

    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 shares bid for, name of the Member of the Syndicate, Place where the bid was submitted and payment details at the address given below:

    Cameo Corporate Services Limited
    'Subramanian Building', No. 1 Club House Road,
    Chennai - 600 002; Tel.: +91-44-2846 0390, +91-44-2846 0425
    Fax: 91-44-2846 0129
    Email: olympic@cameoindia.com; Website: www.cameoindia.com
    SEBI Regn. No.: INR 000003753; Contact Person: Mr. R.D. Ramasamy

    Place: Chennai
    Date : March 27,2012
    For OLYMPIC CARDS LTD
    On behalf of Board of Directors
    Sd/-
    Managing Director