Acropetal IPO Details

Issue Open Feb 21, 2011
Issue Close Feb 24, 2011
IPO Price ₹90
Face Value ₹10
IPO Size ₹170.00 Cr
Listing At BSE, NSE
IPO Lot Size 60

ACROPETAL TECHNOLOGIES LIMITED
INNOVATING A BETTER WORLD

Our Company was incorporated on April 25,2001 as a public limited company under the Companies Act, 1956 and obtained Certificate of Commencement of Business on May 02,2001. The Corporate Identification Number of our Company is U72900KA2001PLC028944.Registered Office: #2/10,3rd floor, Ajay Plaza, 1st Main, N.S. Palya, Bannerghatta Road, Bangalore - 560 076, Karnataka, India. Tel No : + 91-80-4155 9501/02; Fax No: + 91-80-2678 9553;
E-mail: ipo@acropetal.com; Website: www.acropetal.com; Contact Person: Mr. Jamili Jalaiah, Compliance Officer. Promoter: Mr. D. Ravi Kumar.

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 1,88,88,889 EQUITY SHARES OF RS.10/- EACH AT A PRICE OF RS. 90 PER EQUITY SHARE (INCLUDING A PREMIUM OF RS. 80 PER EQUITY SHARE) FOR CASH AGGREGATING RS. 17,000 LACS (THE "ISSUE"), BY ACROPETAL TECHNOLOGIES LIMITED (THE "COMPANY" OR THE "ISSUER"). THE ISSUE WILL CONSTITUTE 48.57% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY. THE NET ISSUE TO PUBLIC WILL CONSTITUTE 48.57% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF OUR COMPANY.

BID/ISSUE: OPENED ON FEBRUARY 21,2011, CLOSED ON FEBRUARY 24,2011

The Equity Shares of the Company are proposed to be listed on Bombay Stock Exchange Limited ("BSE") and The National Stock Exchange of India ("NSE").

ISSUE PRICE: RS. 90/- PER EQUITY SHARE OF FACE VALUE OF RS. 10/- EACH

THE ISSUE PRICE IS 9 TIMES OF THE FACE VALUE

This Issue was made through a 100% Book Building Process wherein not more than 50% of the Net Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"), subject to valid bids being received at or above the issue price. Further, not less than 15% of the Net Issue was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price.
The Issue received 5,616 applications for 2,23,92,300 equity shares resulting in 1.19 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investor categories (Before technical rejections) are as under:

Category No. of Applications No. of Shares No. of times Subscription
Qualified Institutional Investors 5 1,06,58,520 1.13
Non Institutional Investors 28 36,89,460 1.30
Retail Individual Investors 5,583 80,44,320 1.22

Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date at different bid prices is as under:

Bid Price No. of Shares % to Total Cumulative Total Cumulative % to Total
88 2,62,020 1.04 262020 1.038
89 2,280 0.01 264300 1.047
90 1,73,24,280 68.64 17588580 69.690
CUTOFF 76,49,700 30.31 25238280 100.00
Total 2,52,38,280 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on March 04,2011. The Board of Directors of the Company at its Meeting held at Bangalore, on March 06,2011 has taken on record the Basis of Allotment of Equity Shares approved by BSE and has allotted the Equity Shares to the successful applicants. Details of valid applications received and allotments done are as under:

A. Allotment to Retail Individual Investors (After Technical Rejections) including ASBA Applications
The Basis of Allotment to the Retail Individual Investors, who bid at cut-off or at the Issue Price of Rs. 90/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.20 times. The total number of equity shares allotted in this category is 6611520 Equity Shares to 5,495 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applns.
% to
total
Total No. of
Shares applied
% to
total
No. of
Shares allotted
Ratio Total No. of
Shares allotted
60 524 9.536 31,440 0.393 60 5:6 26,220
120 253 4.604 30,360 0.380 99 1:1 25,047
180 121 2.202 21,780 0.272 149 1:1 18,029
240 71 1.292 17,040 0.213 198 1:1 14,058
300 83 1.510 24,900 0.311 248 1:1 20,584
360 23 0.419 8,280 0.104 298 1:1 6,854
420 16 0.291 6,720 0.084 347 1:1 5,552
480 14 0.255 6,720 0.084 397 1:1 5,558
540 35 0.637 18,900 0.236 446 1:1 15,610
600 42 0.764 25,200 0.315 496 1:1 20,832
660 5 0.091 3,300 0.041 546 1:1 2,730
720 5 0.091 3,600 0.045 595 1:1 2,975
780 3 0.055 2,340 0.029 645 1:1 1,935
840 5 0.091 4,200 0.053 694 1:1 3,470
900 2 0.036 1,800 0.023 744 1:1 1,488
960 6 0.109 5,760 0.072 794 1:1 4,764
1020 13 0.237 13,260 0.166 843 1:1 10,959
1080 1,465 26.661 15,82,200 19.783 893 1:1 13,08,245
1140 12 0.218 13,680 0.171 942 1:1 11,304
1200 10 0.182 12,000 0.150 992 1:1 9,920
1320 1 0.018 1,320 0.017 1091 1:1 1,091
1440 3 0.055 4,320 0.054 1190 1:1 3,570
1500 6 0.109 9,000 0.113 1240 1:1 7,440
1560 1 0.018 1,560 0.020 1289 1:1 1,289
1620 13 0.237 21,060 0.263 1339 1:1 17,407
1680 1 0.018 1,680 0.021 1389 1:1 1,389
1740 2 0.036 3,480 0.044 1439 1:1 2,878
1800 3 0.055 5,400 0.068 1488 1:1 4,464
1860 3 0.055 5,580 0.070 1537 1:1 4,611
1980 2 0.036 3,960 0.050 1637 1:1 3,274
2040 1 0.018 2,040 0.026 1686 1:1 1,686
2100 2 0.036 4,200 0.053 1736 1:1 3,472
2160 32 0.582 69,120 0.864 1785 1:1 57,120
2220 2,717 49.445 60,31,740 75.416 1835 1:1 49,85,695

B. Allotment to Non Institutional Investors (After Technical Rejections) including ASBA Applications
The basis of allotment to Non Institutional Investors, who bid at the Issue Price of Rs. 90/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 1.30 times.
The total number of equity shares allotted in this category is 28,34,394 Equity Shares to 28 successful applicants. All the applicants in this category have been given firm allotment on proportionate basis inverse to the oversubscription ratio.

C. Allotment to QIBs (After Technical Rejections) including ASBA Applications
The Basis of Allotment to QIBs was done on a proportionate basis in consultation with BSE. No Mutual Funds applications were received in the issue. The total number of equity shares allotted in this category is 94,44,444 Equity Shares to 5 successful applicants.

Category Flls Others Total
No. of Shares 9,44,44,444 - 9,44,44,444

Dates of dispatch of Refund Orders, Credit to beneficiary Accounts, Refund instructions and Listing details

Activity Date of Completion
Approval of Basis of Allotment by BSE March04,2011
Instructions to the Self Certified Syndicate Banks (SCSBs) by the registrar March 05,2011
Dispatch of Allotment Advices, Refund Orders and ECS Intimation Note March 07,2011
Refund Instructions to the Clearing System (in case of Refunds through ECS system) March07,2011
Listing Application to BSE & NSE March 07,2011
Credit to beneficiary Accounts March07,2011
Listing and Trading of equity shares on BSE and NSE March 10,2011

Refunds have been made through NECS, Direct credit, RTGS and NEFT, into the Bank Accounts of the applicants, as registered with the depositories. For other applicants Refund Orders have been dispatched to their address 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 are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned.

Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated February 25,2011 ("Prospectus") filed with the Registrar of Companies, Karnataka, India.

INVESTORS PLEASE NOTE
This details of the allotment made would be hosted on the website of Registrars to the Issue, Sharex Dynamic (India) Private Limited at www.sharexindia.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 and Place where the bid was submitted and payment details at the address given below:

Sharex Dynamic (India) Private Limited
SEBI Registration No: INR000002102
Unit 1, Luthra Industrial Premises, Andheri Kuria Road, Safed Pool, Andheri (East), Mumbai - 400 072.
Tel No: +91 22 91 22 2851 5606. Fax No: +91 22 2851 2885, Email: atl.ipo@sharexindia.com,
Contact Person: Mr. B.S. Baliga

Place: Bangalore
Date: March 8,2011
For ACROPETAL TECHNOLOGIES LIMITED
Sd/-
D.RAVI KUMAR
(Chairman & Managing Director)

Acropetal IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Acropetal IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Acropetal 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 Acropetal IPO basis of allotment status?

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

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

  3. 3. What is Acropetal IPO allotment process?

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

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