20 Microns IPO Details

Issue Open Sep 8, 2008
Issue Close Sep 11, 2008
IPO Price ₹55
Face Value ₹10
IPO Size ₹23.93 Cr
Listing At BSE, NSE
IPO Lot Size 100

20 MICRONS LIMITED

[incorporated as a Private Limited Company on June 29,1987 under the Companies Act, 1956 as 20 Microns Private Limited vide Certificate of Incorporation issued by the Registrar of Companies, Gujarat. The name of the Company was changed to 20 Microns Ltd. upon conversion into Public Limited Company with effect from January 17,1994 and a fresh Certificate of Incorporation was obtained from Registrar of Companies, Gujarat. Our Company has been allotted CIN No U99999GJ1987PLC009768]
Registered Office: 9/10,GIDC Industrial Estate, Waghodia-391760, Vadodara, Gujarat, India. Tel: +91-2668-262001; Fax: +91-2668-262447; Email: co_secretary@20microns.com;
Website: www.20microns.com Contact Person: Mr. Nikunj Savaliya, Company Secretary & compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 43,50,632 EQUITY SHARES OF RS. 10/- EACH ('EQUITY SHARES') OF 20 MICRONS LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 55/- PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF RS. 45/- PER EQUITY SHARE), CONSISTING OF A FRESH ISSUE OF 16,75 ,000 EQUITY SHARES ('FRESH ISSUE') AND AN OFFER FOR SALE OF 26,75,632 EQUITY SHARES BY GUJARAT VENTURE CAPITAL FUND 1995 (THE 'SELLING SHAREHOLDER'), AGGREGATING TO RS. 2392.85 lacs (THE 'ISSUE'). UPTO 2,17,532 EQUITY SHARES WILL BE RESERVED IN THE ISSUE FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE'EMPLOYEE RESERVATION PORTION'). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS REFERRED TO AS THE 'NET ISSUE'. THE ISSUE WOULD CONSTITUTE 30.81% OF THE POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 55/- AND IT IS 5.5 TIMES THE FACE VALUE.

The Issue made through the 100% Book Building Process wherein upto 50% of the net Issue was to be allocated on a proportionate basis to Qualified Institutional Buyers ('QlBs') (including 5% of the QIB portion that was to specifically be allotted to mutual funds), 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 Bidders, subject to valid bids being received at or above the Issue Price. Further upto 2,17,532 equity shares shall be available for allocation on a proportionate basis to eligible employees, subject to valid bids being received at or above the issue price.
The Issue received 24,122 applications for 1,74,23,800 shares resulting in 4 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investor and Employee categories are as under: (Before technical rejections).

Category No. of Applications No. of Shares Subscription
Qualified Institutional Buyers 6 1869800 0.90
Non Institutional Investors 100 992200 1.60
Retail Individual Investors 23936 14301700 9.89
Employee 80 260100 1,20

Final Demand
A sample of the final demand at different bid prices is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to total
50 189200 1.0047 18831300 100.0000
51 3000 0.0159 18642100 98.9953
52 69800 0.3707 18639100 98.9794
53 62600 0.3324 18569300 98.6087
54 5200 0.0276 18506700 98.2763
55 5376000 28.5482 18501500 98.2487
CUTOFF 13125500 69.7004 13125500 69.7004
TOTAL 18831300 100.0000

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ('BSE') on 25th September, 2008.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs. 557- per Share was finalized in consultation with BSE. The category was over subscribed 1.195686 times. The total number of Shares allotted in this category is 2,17,532 Shares to 78 successful applicants. The category wise details of the Basis of Allocation are as under (Sample):

Category No. of
Applns.
% to
total
Total No. of
Shares applied
% to
total
No. of Shares
allocated
Ratio Total No. of
Shares allocated
100 17 21.25 1700 0.65 100 15:17 1500
200 4 5 800 0.31 167 FIRM 668
300 6 7.5 1800 0.69 250 FIRM 1500
400 5 6.25 2000 0.77 334 FIRM 1670
800 2 2.5 1600 0.62 669 FIRM 1336
900 3 3.75 2700 1.04 752 FIRM 2256
1000 3 3.75 3000 1.15 836 FIRM 2508
2900 1 1.25 2900 1.11 2425 FIRM 2425
3400 1 1.25 3400 1.31 2844 FIRM 2844
5700 1 1.25 5700 2.19 4767 FIRM 4767
13800 1 1.25 13800 5.31 11541 FIRM 11541
14000 1 1.25 14000 5.38 11709 FIRM 11709
14500 2 2.5 29000 11.15 12127 FIRM 24254
15500 1 1.25 15500 5.96 12963 FIRM 12963
21000 2 2.5 42000 16.15 17563 FIRM 35126
22000 1 1.25 22000 8.46 18381 FIRM 18381
23000 1 1.25 23000 8.84 19217 FIRM 19217
25000 1 1.25 25000 9.61 20887 FIRM 20887

B. Allocation to Retail Individual investors (After Technical Rejections)
The Basis of Allocation to Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 55/- per Share, was finalized in consultation with BSE. The category was over subscribed 8.77 times. The total number of shares allotted in this category is 15,91,929 to 11,312 successful applicants including spill over from QIB Category (1,44,725, Shares) 619 additional shares were allotted due to rounding off in this category. The category-wise details of Basis of Allocation are as under

Category No. of
Applns.
% to
total
Total No. of
Shares applied
% to
total
No. of shares
allocated
Ratio Total No. of
Shares allocated
100 7587 32.37 758700 5.43 100 4:35 86700
200 3712 16.84 742400 5.32 100 8:35 84800
300 1391 5.94 417300 2.99 100 17:50 47300
400 1194 5.09 477600 3.42 100 16:35 54600
500 1704 7.27 852000 6.10 100 57:100 97100
600 540 2.30 324000 2.32 100 17:25 36700
700 215 0.92 150500 1.08 100 4:5 17200
800 289 1.23 231200 1.66 100 91:100 26300
900 1336 5.7 1202400 8.61 103 FIRM 137608
1000 1029 4.39 1029000 7.37 114 FIRM 117306
1100 105 0.45 115500 0.83 125 FIRM 13125
1200 94 0.4 112800 0.81 137 FIRM 12878
1300 45 0.19 58500 0.42 148 FIRM 6660
1400 40 0.17 56000 0.4 160 FIRM 6400
1500 96 0.41 144000 1.03 171 FIRM 16416
1600 45 0.19 72000 0.52 182 FIRM 8190
1700 39 0.17 66300 0.47 194 FIRM 7566
1800 3976 16.96 7156800 51.24 205 FIRM 815080

C. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to Non-Institutional Investors, who have bid at the Issue Price of Rs. 55/- per Share, was finalized in consultation with BSE. The category was over subscribed 1.071423 times. The total number of Shares allotted in this category is 6,81,990 Shares to 78 successful applicants including spill over from QIB Category (62,025 Shares). The category-wise details of Basis of Allocation are as under (Sample):

Category No. of
Applns.
% to
total
Total No. of
Shares applied
% to
total
No. of Shares
allocated
Ratio Total No. of
Shares allocated
1900 1 1.28 1900 0.26 1773 FIRM 1773
2000 19 24.36 38000 5.2 1867 FIRM 35473
2500 4 5.13 10000 1.37 2333 FIRM 9332
3700 1 1.28 3700 0.51 3453 FIRM 3453
5000 11 14.1 55000 7.53 4667 FIRM 51337
7200 2 2.56 14400 1.97 6720 FIRM 13440
8600 1 1.28 8600 1.18 8027 FIRM 8027
9000 6 7.69 54000 7.39 8400 FIRM 50400
10000 3 3.85 30000 4.11 9333 FIRM 27999
11000 1 1.28 11000 1.51 10267 FIRM 10267
12500 4 5.13 50000 6.84 11667 FIRM 46668
18000 1 1.28 18000 2.46 16800 FIRM 16800
20000 1 1.28 20000 2.74 16667 FIRM 18667
35500 1 1.28 35500 4.86 33133 FIRM 33133
45500 1 1.28 45500 6.23 42467 FIRM 42467
50000 1 1.28 50000 6.84 46667 FIRM 46667
54000 1 1.28 54000 7.39 50399 FIRM 50399
90900 1 1.28 90900 12.44 84838 FIRM 84838

D. Allocation to QIBs
Allocation to QIBs has been done on a firm allotment basis in consultation with BSE. The category was unsubscribed to the extent of 2,06,750 shares I which has been added to Retail category (1,44,725 shares) and Non Institutional Investors (62,025 Shares). The category-wise details are as under:

Category Fls/Banks MFs FIIs VCs Total
No.of Shares 454500 - 1405300 - 1 1859800

The Board of Directors of the company at it's meeting held at Vadodara on September 25,2008 has approved the basis of allocation of shares of the Issue and has allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched to the address of the investors as registered with the depositories. 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 Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants has been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The company has taken steps to get the shares admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within seven working days from the date of approval of the basis of allocation.

INVESTORS PLEASE NOTE

The details of the allocation made would be hosted on the website of Registrars to the Issue, Intime Spectrum Registry Limited at www.intimespectrum.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 tfie Syndicate and Place where the bid was submitted and payment details at the address given below:

INTIME SPECTRUM REGISTRY LIMITED
C-13, Pannalal Silk Mills Compound, LBS Marg,
Bhandup West, Mumbai - 400 078.
Tel: 91 22 2596 0320, Fax: 91 22 2596 0329
Email:20microns.ipo@intimespectrum.com

Place : Vadodara
Date : 29th September, 2008
For 20 Microns Limited
Sd/-
Mr. Nikunj Savaliya
Company Secretary and Compliance Officer

20 Microns IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in 20 Microns IPO?

    Check the basis of allotment document above to know about how the shares are allocated in 20 Microns IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is 20 Microns IPO basis of allotment status?

    The 20 Microns IPO basis of allotment (published above) tells you how shares are allocated to you in 20 Microns IPO and category wise demand of IPO share.

    Visit the 20 Microns IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is 20 Microns IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in 20 Microns IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App