Bookbuilding IPO | ₹78 Cr | Listing at BSE, NSE | Wed, May 9, 2012 - Tue, May 15, 2012
Plastene India IPO is a book build issue of ₹77.74 crores. The issue is entirely a fresh issue of 0.93 crore shares of ₹77.74 crore.
Plastene India IPO bidding started from May 9, 2012 and ended on May 15, 2012.
Plastene India IPO is set issue price band at ₹81 to ₹84 per share. The lot size for an application is 75 shares. The minimum amount of investment required by an individual investor (retail) is ₹6,300 (75 shares) (based on upper price). The lot size investment for sNII is 32 lots (2,400 shares), amounting to ₹2,01,600, and for bNII, it is 159 lots (11,925 shares), amounting to ₹10,01,700.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Plastene India IPO RHP for detailed Information.
IPO Open
Wed, May 9, 2012
IPO Close
Tue, May 15, 2012
Price Band
₹81 to ₹84
Market Cap (Pre-IPO)
₹300.29 Cr
| IPO Date | 9 to 15 May, 2012 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹81 to ₹84 |
| Lot Size | 75 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 92,55,290 shares (agg. up to ₹78 Cr) |
| Fresh Issue | 92,55,290 shares (agg. up to ₹78 Cr) |
| Share Holding Pre Issue | 2,64,93,189 shares |
| Share Holding Post Issue | 3,57,48,479 shares |
Plastene India IPO comprises a total issue size of 92,55,290 shares. Out of which, 46,00,000 are allocated to QIB, 13,80,000 (15.00%) allocated to NII 32,20,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 46,00,000 | NA | |
| − QIB (Ex. Anchor) Shares Offered | 46,00,000 | NA | |
| NII (HNI) Shares Offered | 13,80,000 | 14.91% | NA |
| Retail Shares Offered | 32,20,000 | 34.79% | 42,933 |
| Total Shares Offered | 92,55,290 | 100.00% |
Investors can bid for a minimum of 75 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹6,300 |
| Retail (Max) | 31 | 2,325 | ₹1,95,300 |
| S-HNI (Min) | 32 | 2,400 | ₹2,01,600 |
| S-HNI (Max) | 158 | 11,850 | ₹9,95,400 |
| B-HNI (Min) | 159 | 11,925 | ₹10,01,700 |
Incorporated in 1998, Plastene India Limited is Gujrat based plastics packaging manufacturer. Company is part of Champalal group based in Gandhidham.
Plastene manufactures a variety of transport and storage containers (Jumbo bags/FIBCs) for both dry and liquid (bulk) goods, woven sack product (used in Chemicals, fertilizers, cement, urea, minerals, resin, polymers and rubber industry), variety of laminates (solvent less / solvent based) structures for food and non-food applications and wide range of high tenacity Polypropylene Multifilament yarn – dope dyed.
Plastene has four manufacturing facilities in India located at Gandhidham, Rajpur and Rakanpur in Gujrat. Plastene exports to around 30 countries and derives close to 49% sales from international customers.
| Company | Issue Type | Issue Size | Listing Day Close | Listing Gain/Loss % |
|---|---|---|---|---|
| RDB Rasayans Ltd. | Mainboard | ₹35.55 Cr | ₹26.50 | -66.46% |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of manufacturing facilities and purchase of plant and machinery for manufacturing of new product, block bottom valve bags at Nani Chira | 49.35 |
| 2 | Expansion of manufacturing facilities at Rajpur | 28.07 |
| 3 | General Corporate purposes | |
| 4 | Public Issue Expenses |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 87.32% | 64.74% |
| Market Cap | ₹300.29 Cr. |
The Plastene India IPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | |
|---|---|---|---|---|
| Total | - | - | - | |
ICRA has assigned an IPO Grade 3 to Plastene India Ltd IPO. This means as per ICRA, company has 'Average Fundamentals'. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Plastene India Ltd IPO Grading Report.
Plastene India Limited has withdrawn its IPO due to poor response from investor.
Plastene India public issue subscribed 0.2900 times on its final day of subscription. NII quota of the IPO subscribed most with bids received for 176% shares. The response in QIB and Retail Individual (RII) was worst. IPO didn't recieve a single bid in QIB quota.
Dilip Davda (May 15th, 2012)
Plastene India IPO that opened on 09.05.12 and was to close on 15.05.12 got just 29% subscription till 5.00 pm on the last day and thus remained heavily undersubscribed and stood withdrawn. Surprisingly, the subscription pattern has once again raised eyebrows with QIB (0%), HNI (1.76 times) Retail (0.6%) and Employees (0.75%). For this it is said that with some operators having good HNI clients, the issue was subscribed by 1.76 times with under the table deal and for employees portion, company managed to got 75% subscription with loans given to employees, but as far as QIBs concerned, they stayed away from bidding in this offer. We always see that merchant bankers say that they discover the price band from the feedbacks received from this lot for whom the IPO is reserved upto 50% of the total issue, and they only duped them. Against sheer contrast to this, Samvardhana Motherson (SMFL) IPO that got full subscription from Anchor Investors who applied at a lower price band of Rs. 115 failed to garner further response with ultimate subscription of just 38% (including Anchor portion) till the last day and stood withdrawn. Thus Plastene India is the second casualty in just a week's time indicating situation worsening day by day and secondary as well as primary markets are heading for doom.
Lead Manager Reports
Plastene India IPO is a main-board IPO of 92,55,290 equity shares of the face value of ₹10 aggregating up to ₹78 Crores. The issue is priced at ₹81 to ₹84. The minimum order quantity is 75.
The IPO opens on Wed, May 9, 2012, and closes on Tue, May 15, 2012.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Plastene India IPO using UPI as a payment gateway. Zerodha customers can apply in Plastene India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Plastene India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Plastene India IPO opens on Wed, May 9, 2012 and closes on Tue, May 15, 2012.
Plastene India IPO lot size is 75, and the minimum amount required for application is ₹6,300.
You can apply in Plastene India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Plastene India IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Plastene India IPO allotment status.
The Plastene India IPO listing date is not yet announced. The tentative date of listing is .
